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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	September 27, 2006
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  	Woodward Governor Company
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	0-8408
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  	36-1984010
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	5001 North Second Street, Rockford, Illinois
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  	61111
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	815-877-7441
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On September 27, 2006, at the recommendation of the Nominating and Governance Committee, the Board of Directors (the "Board") of Woodward Governor Company (the "Company") adjusted non-employee director compensation effective October 1, 2006, as follows:  <br><br>1.	Increase the annual retainer fee from $24,000 to $36,000; and<br>2.	Increase the fee payable for each Board and committee meeting attended from $1,500 to $2,000.<br><br>A summary of the terms of total non-employee director compensation is attached hereto as Exhibit 99.1, which is incorporated by reference. <br><br>Additionally, at meetings of the Compensation Committee (the "Committee") of the Board of the Company and the Board held on September 26, 2006 and September 27, 2006, respectively, the Committee and the Board approved annual salaries effective October 1, 2007, to the Company&#x2019;s named executive officers, as set forth below:<br><br>1.	T.A. Gendron - $575,000<br>2.	R.W. Weber Jr. - $312,000   <br>
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  	Item 9.01 Financial Statements and Exhibits.
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  (d)	Exhibits<br><br>Exhibit No.	Description<br><br>99.1		Non-employee Director Compensation FY2007<br>
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	Woodward Governor Company
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  	&nbsp;&nbsp;
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  <I>
  	November 3, 2006
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  	&nbsp;
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  	By:
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  <I>
  	Robert F. Weber, Jr.
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  	&nbsp;
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  <I>
  	Name: Robert F. Weber, Jr.
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  <I>
  	Title: Chief Financial Officer and Treasurer
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  	Exhibit&nbsp;Index
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  	Exhibit No.
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  	Description
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  	99.1
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  	&nbsp;
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  Non-employee Director Compensation FY2007
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_16058.htm", "description": "LIVE FILING", "secsgml_size_bytes": 10755}]
metadata_filer: {"company-data": {"conformed-name": "WOODWARD GOVERNOR CO", "cik": "0000108312", "assigned-sic": "3620", "irs-number": "361984010", "state-of-incorporation": "DE", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-08408", "film-number": "061186662"}, "business-address": {"street1": "5001 N SECOND ST", "street2": "P O BOX 7001", "city": "ROCKFORD", "state": "IL", "zip": "61125-7001", "phone": "8158777441"}, "mail-address": {"street1": "5001 N SECOND ST", "street2": "PO BOX 7001", "city": "ROCKFORD", "state": "IL", "zip": "61125-7001"}}
text: Woodward Governor Company (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  September 27, 2006
  Woodward Governor Company
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  0-8408
  36-1984010
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  5001 North Second Street, Rockford, Illinois
  61111
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  815-877-7441
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On September 27, 2006, at the recommendation of the Nominating and Governance Committee, the Board of Directors (the "Board") of Woodward Governor Company (the "Company") adjusted non-employee director compensation effective October 1, 2006, as follows:
  1.	Increase the annual retainer fee from $24,000 to $36,000; and
  2.	Increase the fee payable for each Board and committee meeting attended from $1,500 to $2,000.
  A summary of the terms of total non-employee director compensation is attached hereto as Exhibit 99.1, which is incorporated by reference.
  Additionally, at meetings of the Compensation Committee (the "Committee") of the Board of the Company and the Board held on September 26, 2006 and September 27, 2006, respectively, the Committee and the Board approved annual salaries effective October 1, 2007, to the Company's named executive officers, as set forth below:
  1.	T.A. Gendron - $575,000
  2.	R.W. Weber Jr. - $312,000
  Item 9.01 Financial Statements and Exhibits.
  (d)	Exhibits
  Exhibit No.	Description
  99.1		Non-employee Director Compensation FY2007
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  Woodward Governor Company
  November 3, 2006
  By:
  Robert F. Weber, Jr.
  Name: Robert F. Weber, Jr.
  Title: Chief Financial Officer and Treasurer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  99.1
  Non-employee Director Compensation FY2007