11. Other Benefit Plans

The Company has a WD-40 Company Profit Sharing/401(k) Plan and Trust (the Profit Sharing/401(k) Plan) whereby regular U.S. full-time employees who have completed certain minimum service requirements can defer a portion of their income through contributions to a trust. The Profit Sharing/401(k) Plan provides for Company contributions to the trust, as approved by the Board of Directors, as follows: 1) matching contributions to each participant up to 50% of the first 6.6% of compensation contributed by the participant; 2) fixed non-elective contributions in the amount equal to 10% of eligible compensation; and 3) a discretionary non-elective contribution in an amount to be determined by the Board of Directors up to 5% of eligible compensation. The Company’s contributions are subject to overall employer contribution limits and may not exceed the amount deductible for income tax purposes. The Profit Sharing/401(k) Plan may be amended or discontinued at any time by the Company.

Total Company contribution expense for the WD-40 Company Profit Sharing/401(k) Plan during the fiscal years ended August 31, 2007, 2006 and 2005 was approximately $2,219,000, $2,117,000 and $1,781,000, respectively.

The Company’s international subsidiaries have similar benefit plan arrangements, dependent upon the local applicable laws and regulations. The plans provide for Company contributions to an appropriate third party plan, as approved by the subsidiary’s Board of Directors. Company contribution expense related to the international plans during the fiscal years ended August 31, 2007, 2006 and 2005 was approximately $967,000, $833,000 and $754,000, respectively.

The Company provides fixed retirement benefits to certain of its key executives under a supplemental employee retirement plan. The accumulated benefit obligation was $2,030,000 and $1,794,000 at August 31, 2007 and 2006, respectively, which is recorded as a component of deferred employee benefits and other long-term liabilities on the Company’s consolidated balance sheets. The Company has historically recorded this benefit obligation as a long-term liability on its consolidated balance sheets. As a result, the implementation of SFAS No. 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans-an amendment of FASB Statements No. 87, 88, 106, and 132R,” did not have a material impact on the Company’s consolidated financial statements. The service and interest costs amounted to approximately $235,000, $215,000 and $205,000 for the fiscal years ended August 31, 2007, 2006 and 2005, respectively. During each of the fiscal years ended August 31, 2007, 2006 and 2005, the plan paid benefits of approximately $141,000. A weighted-average discount rate of 6.5% and a weighted-average rate of compensation increase of 4.0% were used to calculate the accumulated benefit obligation and service costs for each of the fiscal years ended August 31, 2007, 2006 and 2005.