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<SEC-DOCUMENT>0000950152-08-003541.txt : 20080506
<SEC-HEADER>0000950152-08-003541.hdr.sgml : 20080506
<ACCEPTANCE-DATETIME>20080506170525
ACCESSION NUMBER:		0000950152-08-003541
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		10
CONFORMED PERIOD OF REPORT:	20080501
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080506
DATE AS OF CHANGE:		20080506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			THOR INDUSTRIES INC
		CENTRAL INDEX KEY:			0000730263
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR HOMES [3716]
		IRS NUMBER:				930768752
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09235
		FILM NUMBER:		08807144

	BUSINESS ADDRESS:	
		STREET 1:		419 W PIKE ST
		CITY:			JACKSON CENTER
		STATE:			OH
		ZIP:			45334
		BUSINESS PHONE:		9375966849

	MAIL ADDRESS:	
		STREET 1:		419 W PIKE STREET
		CITY:			JACKSON CENTER
		STATE:			OH
		ZIP:			45334
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>l31479ae8vk.htm
<DESCRIPTION>THOR INDUSTRIES, INC. 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Thor Industries, Inc. 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>








<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8&#150;K</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Pursuant to Section&nbsp;13 or 15 (d)&nbsp;of the<BR>
Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>
Date of Report (Date of Earliest Event Reported): May&nbsp;1, 2008</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>Thor Industries, Inc.</B>
</DIV>

<DIV align="center" style="font-size: 10pt">
(Exact Name of Registrant as Specified in Charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>Delaware</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>1-9235</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>93-0768752</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer Identification</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">No.)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><B>419 West Pike Street,</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>45334-0629</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>Jackson Center, Ohio</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Registrant&#146;s telephone number, including area code: <B>(937)&nbsp;596-6849</B></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
<B>N/A</B><BR>

(Former Name or Former Address, if Changed Since Last Report)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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:</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
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    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD><FONT face="Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
</TD>
</TR>
</TABLE>
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<!--TOC-->
<!--/TOC-->






<!-- link1 "Item&nbsp;2.02 Results of Operations and Financial Condition" -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;2.02</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Results of Operations and Financial Condition.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;2, 2008, Thor Industries, Inc. (the &#147;Company&#148;) issued a press release announcing
certain preliminary financial results and other information for the quarter and nine months ended
April&nbsp;30, 2008. A copy of the Company&#146;s press release is attached hereto as Exhibit&nbsp;99.1 and is
incorporated by reference herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with general instruction B.2 to Form 8-K, the information set forth in Item&nbsp;2.02
of this Form 8-K (including Exhibit&nbsp;99.1) shall be deemed &#147;furnished&#148; and not &#147;filed&#148; with the
Securities and Exchange Commission for the purposes of Section&nbsp;18 of the Securities Exchange Act of
1934, as amended, and shall not be incorporated by reference into any filing thereunder or under
the Securities Act of 1933, as amended.
</DIV>
<!-- link1 "Item&nbsp;5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain Officers; Compensatory Arrangements of Certain Officers" -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;5.02</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain Officers.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Appointment of Executive Officer</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;5, 2008, the Company issued a press release announcing that it has hired Christian G.
Farman as its Senior Vice President and Chief Financial Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to joining the Company, Mr.&nbsp;Farman, age 49, served as Chief Financial Officer of
Deutsch, a leading manufacturer of electrical connectors, from May&nbsp;2006 to May&nbsp;2007. From December
2003 to December&nbsp;2005, Mr.&nbsp;Farman served as Chief Financial Officer of Insituform Technologies,
Inc., a NASDAQ listed infrastructure company, first as Vice President, from December&nbsp;2003 to
January&nbsp;2005, and then as Senior Vice President, from January&nbsp;2005 to December&nbsp;2005. From February
2003 to April&nbsp;2003, Mr.&nbsp;Farman served as Chief Operating Officer of the National Audubon Society.
Prior to that, from 1989 to 2001, Mr.&nbsp;Farman was employed by Vivendi North America (previously
Anjou International), a water treatment and environmental services company, which he joined as
Controller and was ultimately promoted to Executive Vice President and Chief Financial Officer.
Prior to Vivendi North America, he was employed as a senior audit manager at Price Waterhouse (now
known as PricewaterhouseCoopers LLP), where he worked from 1979 to 1989. Mr.&nbsp;Farman is a Certified
Public Accountant and holds a BBA in accounting from the University of Massachusetts at Amherst.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walter L. Bennett, the Company&#146;s current Executive Vice President and Chief Financial Officer,
continues with the Company as Executive Vice President and Chief Administrative Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A copy of the Company&#146;s press release is attached hereto as Exhibit&nbsp;99.2 and is incorporated
by reference herein.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Compensatory Arrangements with Mr.&nbsp;Farman</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company entered into a letter of employment with Mr.&nbsp;Farman in connection with his
appointment as Senior Vice President and Chief Financial Officer (the &#147;Offer Letter&#148;). A copy of
the Offer Letter is attached hereto as Exhibit&nbsp;10.1 to this Form 8-K and is incorporated herein by
reference. The following summary of the Offer Letter does not purport to be complete and is
subject to and qualified in its entirety by reference to the attached agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The material terms of the Offer Letter are as follows:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mr.&nbsp;Farman&#146;s annual base salary will be $500,000.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Mr.&nbsp;Farman will be eligible for an annual bonus of up to $300,000 for fiscal 2009
based on Mr.&nbsp;Farman&#146;s performance and the performance of the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company has agreed to grant Mr.&nbsp;Farman options to purchase 100,000 shares of the
Company&#146;s common stock pursuant to the Company&#146;s 2006 Equity Incentive Plan. The stock
options will vest over a three year period in one-third increments on the first, second
and third anniversaries of the date of grant. The stock options were priced on May&nbsp;5,
2008, the date Mr.&nbsp;Farman commenced employment with the Company.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company has agreed to reimburse Mr.&nbsp;Farman for (i)&nbsp;reasonable temporary living
expenses in the Elkhart, Indiana area for up to six months from the date Mr.&nbsp;Farman
commences employment with the Company and (ii)&nbsp;reasonable moving expenses.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company has agreed to pay Mr.&nbsp;Farman severance equal to nine months of Mr.
Farman&#146;s base salary in the event Mr.&nbsp;Farman is terminated for reasons other than cause
(as such term is defined in the Company&#146;s 2006 Equity Incentive Plan).</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr.&nbsp;Farman will also participate in the compensation and benefit programs generally available
to the Company&#146;s executive officers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition to the Offer Letter, on May&nbsp;5, 2008, the Company and Mr.&nbsp;Farman entered into the
Company&#146;s standard form indemnification agreement for executive officers and directors of the
Company (the &#147;Indemnification Agreement&#148;). These agreements generally obligate the Company to
indemnify executive officers and directors for liability incurred by them as a result of their
services as directors or officers, subject to limited exceptions. The following executive officers
and directors are party to Indemnification Agreements: Wade F. B. Thompson, Peter B. Orthwein,
Walter L. Bennett, Neil D. Chrisman, H. Coleman Davis, III, Alan Siegel, Jan H. Suwinski, William
C. Tomson and Geoffrey Thompson. A copy of the form of Indemnification Agreement for executive
officers and directors is attached hereto as Exhibit&nbsp;10.2 to this Form 8-K and is incorporated
herein by reference. The foregoing summary of the Indemnification Agreement does not purport to be
complete and is subject to and qualified in its entirety by reference to the attached agreement.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>Award Agreements Under 2006 Equity Incentive Plan</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;1, 2008, the Compensation Committee of the Board of Directors of the Company approved
forms of the following equity grant documents to be used for grants of stock options and restricted
stock under the Company&#146;s 2006 Equity Incentive Plan: (i)&nbsp;Stock Option Agreement; (ii)&nbsp;Restricted
Stock Award Certificate and Restricted Stock Award Agreement &#150; for grants to directors; and (iii)
Restricted Stock Award Certificate and Restricted Stock Award Agreement &#150; for grants to employees
and consultants (collectively, the &#147;Award Agreements&#148;). Copies of the forms of Award Agreements
are attached hereto as Exhibits 10.3, 10.4 and 10.5 to this Form 8-K and are incorporated herein by
reference.
</DIV>
<!-- link1 "Item&nbsp;9.01 Financial Statements and Exhibits" -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits.</B></TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;<I>Exhibits</I>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Offer Letter, dated May&nbsp;2, 2008</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Indemnification Agreement</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Award Certificate and Restricted Stock
Award Agreement &#150; for grants to directors</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Award Certificate and Restricted Stock
Award Agreement &#150; for grants to employees and consultants</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Copy of press release, dated May&nbsp;2, 2008, issued by the Company</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Copy of press release, dated May&nbsp;5, 2008, issued by the Company</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 " SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Thor Industries, Inc.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date:      May 6, 2008&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Walter L. Bennett
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>


    <TD colspan="3" align="left">Name: Walter L. Bennett&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>

    <TD colspan="3" align="left">Title: Executive Vice President</TD>

    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "EXHIBIT INDEX" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="91%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Offer Letter, dated May&nbsp;2, 2008</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Indemnification Agreement</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.3
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Stock Option Agreement</TD>
</TR>
<tr style="font-size: 10pt">
<TD>&nbsp;</TD>
</tr>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.4
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Award Certificate and Restricted Stock Award Agreement
&#150; for grants to directors</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10.5
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Form of Restricted Stock Award Certificate and Restricted Stock Award Agreement
&#150; for grants to employees and consultants</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Copy of press release, dated May&nbsp;2, 2008, issued by the Company</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.2
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Copy of press release, dated May&nbsp;5, 2008, issued by the Company</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>l31479aexv10w1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-10.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.1
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">THOR INDUSTRIES, INC.<BR>
9 Benedict Place, 2<SUP style="font-size: 85%; vertical-align: text-top">nd</SUP> Floor<BR>
Greenwich, CT 06830<BR>
(203)&nbsp;661-1333<BR>
Fax (203)&nbsp;661-1396<BR>
Email: porthwein@thorindustries.com

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="80%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="white-space: nowrap"> <B>PETER G. ORTHWEIN</B></FONT></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Vice Chairman</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">May&nbsp;2, 2008

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Christian G. Farman<BR>
245 East 93rd Street, Apt. 32B<BR>
New York, NY 10128

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Re: <u><B>SENIOR VICE PRESIDENT &#038; CHIEF FINANCIAL OFFICER, THOR</B></u>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Chris:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This letter summarizes the terms of the offer to you for the position of Senior Vice President and
Chief Financial Officer of Thor Industries, Inc. Accounting, Internal Audit, IT, and all Vice
Presidents, Finance of Thor subsidiaries will report to you. You will report directly to Wade F.B.
Thompson, Chairman.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The following are the details of the offer for this critical position in the organization:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Your base salary will be $500,000 annually.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You will be eligible for an annual cash bonus of up to $300,000 based on your
performance and the performance of the corporation in fiscal 2009. A guideline for the amount of this cash
bonus is .15% of Thor&#146;s net income before tax in fiscal 2009.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You will be granted an option to purchase 100,000 shares of Thor common stock
under the Thor Industries, Inc. 2006 Stock Equity Incentive Plan (the &#147;2006 Plan&#148;) at
the closing price on the day you start employment, May&nbsp;5, 2008. The options will vest
over a 3&nbsp;year period at the rate of 33,333 shares on each anniversary of the date of
grant.</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Christian G. Farman<BR>
May&nbsp;2, 2008<BR>
Page 2

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You will receive the Thor major medical and related benefits as set forth in
the booklet being sent to you by Walter L. Bennett, Thor&#146;s current Chief Financial
Officer.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The position will be located at Thor&#146;s corporate office in Elkhart, IN.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You will be reimbursed for reasonable temporary living expenses in the Elkhart
area for up to six months from the start of your employment while you seek the purchase
of a house. You will also be reimbursed for reasonable moving expenses from New York
to Elkhart.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>You, like other executive officers, will be covered under the company&#146;s D&#038;O
policy and will be indemnified by Thor in accordance with Thor&#146;s standard form
indemnification agreement for executive officers.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We do not have a severance policy. However, if you are terminated for reasons
other than cause (as such term is defined in the 2006 Plan), we will pay you severance
of nine months of your base salary.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In brief, your responsibilities will be to ensure continuous improvement of, and strict adherence
to, Thor&#146;s accounting, financial reporting, internal controls and corporate compliance policies,
procedures and practices.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As I am sure you understand this letter is an outline of the terms of your employment but is not a
contract. All Thor employees are employees-at-will.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I expect you will find the position challenging and rewarding.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="60%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Sincerely,</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
</TR>


<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Peter B. Orthwein</TD>
</TR>

<TR valign="bottom">
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Peter B. Orthwein</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">PBO/pat

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Agreed to and accepted:

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Mr.&nbsp;Christian G. Farman<BR>
May&nbsp;2, 2008<BR>
Page 3

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">/s/ Christian G. Farman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5/2/2008</TD>
</TR>


<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>





<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Christian G. Farman
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>l31479aexv10w2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-10.2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.2
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>INDEMNIFICATION AGREEMENT</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Indemnification Agreement (this <B><I>&#147;Agreement&#148;</I></B>) is made as of this &#95;&#95;&#95;day of &#95;&#95;&#95;,
200&#95;&#95;&#95;, by and between Thor Industries, Inc., a Delaware corporation (the <B><I>&#147;Company&#148;</I></B>), and
&#95;&#95;&#95;, an individual (<B><I>&#147;Indemnitee&#148;</I></B>).
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>RECITALS</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS, </B>the Certificate of Incorporation (the <B><I>&#147;Certificate</I></B>&#148;) and the bylaws (the <B><I>&#147;Bylaws&#148;</I></B>) of
the Company provide for the indemnification of the officers and directors of the Company to the
maximum extent permitted by the Delaware General Corporation Law, as amended (the <B><I>&#147;DGCL&#148;</I></B>);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS, </B>the Certificate, the Bylaws and the DGCL permit contracts between the Company and the
officers and directors of the Company with respect to indemnification of such officers and
directors;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS, </B>in accordance with the DGCL, the Company may purchase and maintain a policy or
policies of directors&#146; and officers&#146; liability insurance covering certain liabilities that may be
incurred by its officers or directors in the performance of their obligations to the Company;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>WHEREAS, </B>in order to induce Indemnitee to serve and/or continue to serve as an officer and/or
director of the Company, the Company desires that the Indemnitee shall be indemnified and advanced
expenses as set forth herein.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>AGREEMENT</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>NOW, THEREFORE, </B>in consideration of Indemnitee&#146;s service as an officer and/or director of the
Company after the date hereof, the Company and Indemnitee hereby agree as follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.&nbsp;Certain Definitions </B>Capitalized terms used but not otherwise defined in this Agreement
shall have the meanings set forth below:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B><I>&#147;Corporate Status&#148; </I></B>means the fact that a person is or was a director, officer, employee or
agent of the Company or an Enterprise. A Proceeding shall be deemed to have been brought by
reason of a person&#146;s &#147;Corporate Status&#148; if it brought because of the status described in the
preceding sentence or because of any action or inaction on the part of such person in
connection with such status.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B><I>&#147;Disinterested Director&#148; </I></B>means a director of the Company who is not and was not a party to
the Proceeding in respect of which indemnification is sought by Indemnitee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B><I>&#147;Enterprise&#148; </I></B>means the Company and any other corporation, partnership, joint venture, trust,
employee benefit plan or other enterprise in which Indemnitee is or was serving at the
request of the Company as a director, officer, employee, agent or fiduciary.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B><I>&#147;Expenses&#148; </I></B>shall include all attorney&#146;s fees, disbursements and retainers, court costs,
transcript costs, fees of experts, witness fees, travel and deposition costs, printing and
binding costs, telephone charges, postage, delivery service fees, judgments, fines,
penalties, amounts paid in settlement and all other disbursements or expenses of the types
customarily incurred in connection with prosecuting, defending, preparing to prosecute or
defend, investigating, settling, or appealing a Proceeding, or being prepared to be a
witness or otherwise participating in a Proceeding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B><I>&#147;Independent Counsel&#148; </I></B>means a law firm, or a member of a law firm, that is experienced in
matters of corporation law and neither currently is, nor in the past five (5)&nbsp;years has
been, retained to represent: (i)&nbsp;the Company or Indemnitee in any matter material to either
such party (other than with respect to matters concerning the Indemnitee under this
Agreement, or of other indemnitees under similar indemnification agreements), or (ii)&nbsp;any
other party to the Proceeding giving rise to a claim for indemnification hereunder.
Notwithstanding the foregoing, the term &#147;Independent Counsel&#148; shall not include any person
who, under the applicable standards of professional conduct then prevailing, would have a
conflict of interest in representing either the Company or Indemnitee in an action to
determine Indemnitee&#146;s rights under this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B><I>&#147;Proceeding&#148; </I></B>includes any threatened, pending or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or
any other actual, threatened or completed proceeding, whether brought by or in the right of
the Company or otherwise and whether civil, criminal, administrative or investigative, in
which Indemnitee was, is or will be involved as a party or otherwise, including one pending
on or before the date of this Agreement. For purposes of this definition, the term
&#147;threatened&#148; shall be deemed to include, but not be limited to, Indemnitee&#146;s good faith
belief that a claim or other assertion may lead to institution of a Proceeding.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B><I>&#147;Reviewing Party&#148; </I></B>means the person or persons selected to make the determination of the
availability of indemnification pursuant to <U>Section&nbsp;5.3</U> hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>2. Indemnification.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">2.1 <B>Proceedings Not By or In The Right Of the Company</B>. If Indemnitee was or is a party or
is threatened to be made a party to any Proceeding, other than a Proceeding by or in the
right of the Company, by reason of Indemnitee&#146;s Corporate Status, the Company shall hold
harmless and indemnify Indemnitee to the fullest extent authorized or permitted by the
provisions of the DGCL, the Certificate and the Bylaws, as such may be amended from time to
time (but in the case of such amendment, only to the extent that such amendment permits the
Company to provide broader indemnification rights than the law permitted the Company to
provide prior to such amendment). against all Expenses to the extent actually and
reasonably incurred by Indemnitee or on his or her behalf in connection with such
Proceeding, but only if Indemnitee acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the best interests of the Company and, that with respect
to any criminal Proceeding, he or she had no reasonable cause to believe his or her conduct
was unlawful.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">2.2 <B>Proceedings By or In Right of the Company</B>. If Indemnitee was or is a party or is
threatened to be made a party to any Proceeding by or in the right of the Company, by reason
of Indemnitee&#146;s Corporate Status, the Company shall hold harmless and indemnify Indemnitee
to the fullest extent authorized or permitted by the provisions of the DGCL, the Certificate
and the Bylaws, as such may be amended from time to time (but in the case of such amendment,
only to the extent that such amendment permits the Company to provide broader
indemnification rights than the law permitted the Company to provide prior to such
amendment), against all Expenses to the extent actually and reasonably incurred by
Indemnitee or on his or her behalf in connection with such Proceeding, but only if
Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not
opposed to the best interests of the Company; provided, however, that, if applicable law so
provides, no indemnification against such Expenses shall be made in respect of any claim in
such Proceeding as to which Indemnitee shall have been adjudged to be liable to the Company
unless, and only to the extent that, the Court of Chancery of the State of Delaware, or the
court in which such Proceeding was brought, shall determine that, despite the adjudication
of liability Indemnitee is fairly and reasonably entitled to indemnity for such Expenses.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>3. Advancement of Expenses.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">3.1 The Company shall advance all Expenses incurred by or on behalf of Indemnitee in
connection with any Proceeding prior to the final disposition of such Proceeding upon
receipt of an undertaking by or on behalf of Indemnitee to repay such amount if it shall
ultimately be determined that such person is not entitled to be indemnified by the Company.
Any advances and undertakings to repay pursuant to this <U>Section&nbsp;3.1</U> shall be
unsecured and interest free and shall provide that, if Indemnitee has commenced or
thereafter commences legal proceedings in a court of competent jurisdiction to secure a
determination that Indemnitee should be indemnified under applicable law with respect to
such Proceeding, Indemnitee shall not be required to reimburse the Company for any advance
of Expenses in respect of such Proceeding until a final judicial determination is made with
respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">3.2 Advances of Expenses pursuant to <U>Section&nbsp;3</U> hereof shall be made within two (2)
business days after the receipt by the Company of a written statement or statements from
Indemnitee requesting such advance or advances from time to time, whether prior to or after
final disposition of such Proceeding, and accompanied by or preceded by the undertaking
referred to in <U>Section&nbsp;3.1</U> above.<SUP style="font-size: 85%; vertical-align: text-top"> </SUP>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>4. Contribution in the Event of Joint Liability.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">4.1 Whether or not the indemnification provided in <U>Section&nbsp;2</U> hereof is available, in
respect of any Proceeding in which the Company is jointly liable with Indemnitee (or
would be if joined in such Proceeding), the Company shall pay, in the first instance, the
entire amount of any judgment or settlement of such Proceeding without requiring Indemnitee
to contribute to such payment and the Company hereby waives and relinquishes any right of
contribution it may have against Indemnitee. The Company
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">shall not enter into any
settlement of any action, suit or proceeding in which the Company is jointly liable with
Indemnitee (or would be if joined in such Proceeding) unless such settlement provides for a
full and final release of all claims and Proceedings asserted against Indemnitee.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">4.2 Without diminishing or impairing the obligations of the Company set forth in the
preceding subparagraph, if, for any reason, Indemnitee shall elect or be required to pay all
or any portion of any judgment or settlement in any Proceeding in which the Company is
jointly liable with Indemnitee (or would be if joined in such Proceeding), the Company shall
contribute to the amount of Expenses actually and reasonably incurred and paid or payable by
Indemnitee in proportion to the relative benefits received by the Company and all officers,
directors or employees of the Company other than Indemnitee who are jointly liable with
Indemnitee (or would be if joined in such Proceeding), on the one hand, and Indemnitee, on
the other hand, from the transaction from which such Proceeding arose; <U>provided</U>,
<U>however</U>, that the proportion determined on the basis of relative benefit may, to the
extent necessary to conform to law, be further adjusted by reference to the relative fault
of the Company and all officers, directors or employees of the Company other than Indemnitee
who are jointly liable with Indemnitee (or would be if joined in such Proceeding), on the
one hand, and Indemnitee, on the other hand, in connection with the events that resulted in
such Expenses, as well as any other equitable considerations which applicable law may
require to be considered. The relative fault of the Company and all officers, directors or
employees of the Company other than Indemnitee who are jointly liable with Indemnitee (or
would be if joined in such Proceeding), on the one hand, and Indemnitee, on the other hand,
shall be determined by reference to, among other things, the degree to which their actions
were motivated by intent to gain personal profit or advantage, the degree to which their
liability is primary or secondary, and the degree to which their conduct was active or
passive.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">4.3 The Company shall fully indemnify and hold Indemnitee harmless from any claims of
contribution which may be brought by other officers, directors or employees of the Company
who may be jointly liable with Indemnitee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.&nbsp;Procedures and Presumptions for the Determination of Entitlement to Indemnification.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5.1 <B>Timing of Payments</B>. All payments of Expenses and other amounts by the Company to the
Indemnitee pursuant to this Agreement shall be made as soon as practicable after a written
demand therefor by Indemnitee is presented to the Company, but in no event later than (i)
thirty (30)&nbsp;days after such demand is presented or (ii)&nbsp;such later date as may be permitted
for the determination of entitlement to indemnification pursuant to <U>Section&nbsp;5.7</U>
hereof, if applicable; <U>provided</U>, <U>however</U>, that advances of Expenses shall be
made within the time provided in <U>Section&nbsp;3.2</U> hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5.2 <B>Request for Indemnification</B>. Whenever Indemnitee believes that he or she is entitled to
indemnification pursuant to this Agreement, Indemnitee shall submit to the Company a written
request, including therein or therewith such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">determine whether and to what extent
Indemnitee is entitled to indemnification. Indemnitee shall submit his or her claim for
Indemnification within a reasonable time, not to exceed two (2)&nbsp;years after any judgment,
order, settlement, dismissal, arbitration award, conviction, acceptance of a plea of nolo
contendere (or its equivalent) or other full or partial final determination or disposition
of the Proceeding (with the latest date of the occurrence of any such event to be considered
the commencement of the two (2)&nbsp;year period. The Secretary of the Company shall, promptly
upon receipt of such a request for indemnification, advise the board of directors of the
Company (the <B><I>&#147;Board of Directors&#148;</I></B>) in writing that Indemnitee has requested indemnification.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5.3 <B>Reviewing Party</B>. Upon written request by Indemnitee for indemnification pursuant to the
first sentence of <U>Section&nbsp;5.2</U> hereof, a determination, if required by applicable
law, with respect to Indemnitee&#146;s entitlement thereto shall be made in the specific case by
one of the following three methods, which shall be at the election of Indemnitee: (1)&nbsp;by a
majority vote of the Disinterested Directors, even though less than a quorum, (2)&nbsp;by
Independent Counsel in a written opinion, or (3)&nbsp;by vote of the majority of the stockholders
of the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5.4 <B>Determination by Independent Counsel</B>. If the determination of entitlement to
indemnification is to be made by Independent Counsel pursuant to <U>Section&nbsp;5.3</U> hereof,
the Independent Counsel shall be selected as provided in this <U>Section&nbsp;5.4</U>. The
Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that
such selection be made by the Board of Directors). Indemnitee or the Company, as the case
may be, may, within ten (10)&nbsp;days after such written notice of selection shall have been
given, deliver to the Company or to Indemnitee, as the case may be, a written objection to
such selection; provided, however, that such objection may be asserted only on the ground
that the Independent Counsel so selected does not meet the requirements of &#147;Independent
Counsel&#148; as defined in this Agreement, and the objection shall set forth with particularity
the factual basis of such assertion. Absent a proper and timely objection, the person so
selected shall act as Independent Counsel. If a written objection is made and substantiated,
the Independent Counsel selected may not serve as Independent Counsel unless and until such
objection is withdrawn or a court has determined that such objection is without merit. If,
within thirty (30)&nbsp;days after submission by Indemnitee of a written request for
indemnification pursuant to <U>Section&nbsp;5.2</U> hereof, no Independent Counsel shall have
been selected or an Independent Counsel shall have been selected but an objection thereto
shall have been properly made and remained unresolved, either the Company or Indemnitee may
petition the Court of Chancery of the State of Delaware or other court of competent
jurisdiction for resolution of any objection which shall have been made by the Company or
Indemnitee to the other&#146;s selection of Independent Counsel and/or for the appointment as
Independent Counsel of a person selected by the court or by such other person as the court
shall designate, and the person with respect to whom all objections are so resolved or the
person so appointed shall act as Independent Counsel under <U>Section&nbsp;5.3</U> hereof. The
Company shall pay any and all fees
and expenses incurred by such Independent Counsel in connection with acting pursuant to
<U>Section&nbsp;5.3</U> hereof, and the Company shall pay all fees and expenses incident to the
procedures of this <U>Section&nbsp;5.4</U>, regardless of the manner in which such Independent
Counsel was selected or appointed.
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5.5 <B>Burden of Proof</B>. In making a determination with respect to entitlement to
indemnification hereunder, the Reviewing Party shall presume that Indemnitee is entitled to
indemnification under this Agreement. Anyone seeking to overcome this presumption shall have
the burden of proof and the burden of persuasion, by clear and convincing evidence. In
making a determination with respect to entitlement to indemnification hereunder which under
this Agreement or applicable law requires a determination of Indemnitee&#146;s good faith and/or
whether Indemnitee acted in a manner which he or she reasonably believed to be in or not
opposed to the best interests of the Company, the Reviewing Party shall presume that
Indemnitee has at all times acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the best interests of the Company. Anyone seeking to
overcome this presumption shall have the burden of proof and the burden of persuasion, by
clear and convincing evidence. Indemnitee shall be deemed to have acted in good faith if
Indemnitee&#146;s action is based on the records or books of account of the Enterprise, including
financial statements, or on information supplied to Indemnitee by the officers of the
Enterprise in the course of their duties, or on the advice of legal counsel for the
Enterprise or on information or records given or reports made to the Enterprise by an
independent certified public accountant or by an appraiser or other expert selected with
reasonable care by the Enterprise. In addition, the knowledge and/or actions, or failure to
act, of any other director, officer, agent or employee of the Enterprise shall not be
imputed to Indemnitee for purposes of determining the right to indemnification under this
Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5.6 <B>No Presumption in Absence of a Determination or As Result of an Adverse Determination;
Presumption Regarding Success. </B>Neither the failure of any Reviewing Party to have made a
determination as to whether Indemnitee has met any particular standard of conduct or had any
particular belief, nor an actual determination by any Reviewing Party that Indemnitee has
not met such standard of conduct or did not have such belief, prior to the commencement of
legal proceedings by Indemnitee to secure a judicial determination that Indemnitee should be
indemnified under this Agreement under applicable law, shall be a defense to Indemnitee&#146;s
claim or create a presumption that Indemnitee has not met any particular standard of conduct
or did not have any particular belief. In addition, the termination of any Proceeding by
judgment, order, settlement (whether with or without court approval) or conviction, or upon
a plea of nolo contendere, or its equivalent, shall not create a presumption that Indemnitee
did not meet any particular standard of conduct or have any particular belief or that a
court has determined that indemnification is not permitted by this Agreement or applicable
law. In the event that any Proceeding to which Indemnitee is a party is resolved in any
manner other than by final adverse judgment (as to which all rights of appeal therefrom have
been exhausted or lapsed) against Indemnitee (including, without limitation, settlement of
such Proceeding with or without payment of money or other consideration) it shall be
presumed that Indemnitee has been successful on the merits or otherwise in such
Proceeding. Anyone seeking to overcome this presumption shall have the burden of proof and
the burden of persuasion, by clear and convincing evidence.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5.7 <B>Timing of Determination</B>. If the Reviewing Party shall not have made a determination
within thirty (30)&nbsp;days after the date of Indemnitee&#146;s request for indemnification pursuant
to <U>Section&nbsp;5.2</U> hereof, the requisite determination of entitlement
</DIV>

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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">to indemnification
shall be deemed to have been made and Indemnitee shall be entitled to such indemnification,
absent (i)&nbsp;a misstatement by Indemnitee of a material fact, or an omission of a material
fact necessary to make Indemnitee&#146;s statement not materially misleading, in connection with
the request for indemnification, or (ii)&nbsp;a prohibition of such indemnification under
applicable law; provided, however, that such 30&nbsp;day period may be extended for a reasonable
time, not to exceed an additional fifteen (15)&nbsp;days, if the person, persons or entity making
the determination with respect to entitlement to indemnification in good faith requires such
additional time for the obtaining of or evaluating of documentation and/or information
relating thereto; and provided, further, that the foregoing provisions of this <U>Section
5.7</U> shall not apply if the determination of entitlement to indemnification is to be made
by the stockholders pursuant to <U>Section&nbsp;5.3</U> of this Agreement and if (A)&nbsp;within
fifteen (15)&nbsp;days after the date of Indemnitee&#146;s request for indemnification pursuant to
<U>Section&nbsp;5.2</U> hereof the Board of Directors or the Disinterested Directors, if
appropriate, resolve to submit such determination to the stockholders for their
consideration at an annual meeting thereof to be held within seventy-five (75)&nbsp;days after
such request and such determination is made thereat, or (B)&nbsp;a special meeting of
stockholders is called within fifteen (15)&nbsp;days after such request for the purpose of making
a determination of entitlement to indemnification, such meeting is held for such purpose
within sixty (60)&nbsp;days after having been so called and such determination is made thereat.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">5.8 <B>Cooperation</B>. Indemnitee shall cooperate with the person, persons or entity making such
determination with respect to Indemnitee&#146;s entitlement to indemnification, including
providing to such person, persons or entity upon reasonable advance request any
documentation or information which is not privileged or otherwise protected from disclosure
and which is reasonably available to Indemnitee and reasonably necessary to such
determination. Any Independent Counsel, member of the Board of Directors, or stockholder of
the Company shall act reasonably and in good faith in making a determination under this
Agreement of the Indemnitee&#146;s entitlement to indemnification. Any costs or expenses
(including attorneys&#146; fees and disbursements) incurred by Indemnitee in so cooperating with
the person, persons or entity making such determination shall be borne by the Company
(irrespective of the determination as to Indemnitee&#146;s entitlement to indemnification) and
the Company shall indemnify Indemnitee therefor and shall hold Indemnitee harmless
therefrom.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>6. Liability Insurance. </B>The Company shall obtain and maintain a policy or policies of insurance
with a reputable insurance company providing the Indemnitee with coverage in such amount as shall
be determined by the Board of Directors for losses from acts or omissions of Indemnitee, and to
ensure the Company&#146;s performance of its indemnification obligations under this Agreement. In all
policies of director and officer liability insurance obtained by the Company, Indemnitee shall be
named as an insured party in such manner as to provide
Indemnitee with the same rights and benefits as are afforded to the most favorably insured
directors or officers, as applicable, of the Company. Any reductions to the amount of director and
officer liability insurance coverage maintained by the Company as of the date hereof shall be
subject to the approval of the Board of Directors. Notwithstanding the foregoing, the Company
shall have no obligation to obtain or maintain such insurance if the Board of Directors determines
in good faith that such insurance is not reasonably available, if the premium costs for
</DIV>
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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"> such
insurance are disproportionately high compared to the amount of coverage provided, or if the
coverage provided by such insurance is limited by exclusions so as to provide an insufficient
benefit. The Company shall promptly notify Indemnitee of any such determination not to provide
insurance coverage. In the event that the Company does maintain such insurance for the benefit of
Indemnitee, the right to indemnification and advancement of Expenses as provided herein shall only
apply to the extent that Indemnitee has not been indemnified and actually reimbursed pursuant to
such insurance.
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><B>7. Remedies of Indemnitee.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">7.1 In the event that (i)&nbsp;a determination is made pursuant to <U>Section&nbsp;5</U> of this
Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii)
advancement of Expenses is not timely made pursuant to <U>Section&nbsp;3.2</U> of this
Agreement, (iii)&nbsp;no determination of entitlement to indemnification shall have been made
within the time period specified in <U>Section&nbsp;5.7</U> of this Agreement, or (iv)&nbsp;payment
of indemnified amounts is not made within the applicable time periods specified in
<U>Section&nbsp;5.1</U> of this Agreement, Indemnitee shall be entitled to an adjudication in an
appropriate court of the State of Delaware, or in any other court of competent jurisdiction,
of his or her entitlement to such indemnification. The Company shall not oppose
Indemnitee&#146;s right to seek any such adjudication.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">7.2 In the event that a determination shall have been made pursuant to <U>Section&nbsp;5.3</U>
of this Agreement that Indemnitee is not entitled to indemnification, any judicial
proceeding commenced pursuant to this <U>Section&nbsp;7</U> shall be conducted in all respects
as a <I>de novo </I>review on the merits and Indemnitee shall not be prejudiced by reason of that
adverse determination under <U>Section&nbsp;5.3</U> hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">7.3 If a determination shall have been made pursuant to <U>Section&nbsp;5.3</U> of this
Agreement that Indemnitee is entitled to indemnification, the Company shall be bound by such
determination in any judicial proceeding commenced pursuant to this <U>Section&nbsp;7</U>,
absent a prohibition of such indemnification under applicable law.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">7.4 In the event that Indemnitee, pursuant to this <U>Section 7</U>, seeks a judicial
adjudication of his or her rights under, or to recover damages for breach of, this
Agreement, or to recover under any directors&#146; and officers&#146; liability insurance policies
maintained by the Company, the Company shall pay on his behalf, in advance, any and all
Expenses actually and reasonably incurred by him in such judicial adjudication, regardless
of whether Indemnitee ultimately is determined to be entitled to such indemnification,
advancement of expenses or insurance recovery.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">7.5 The Company shall be precluded from asserting in any judicial proceeding commenced
pursuant to this <U>Section&nbsp;7</U> that the procedures and presumptions of this Agreement
are not valid, binding and enforceable and shall stipulate in any such court that the
Company is bound by all the provisions of this Agreement.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.&nbsp;Non-Exclusivity, Survival of Rights, Subrogation; No Duplicative Payments; Certain
Amendments.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">8.1 The rights of indemnification as provided by this Agreement shall not be deemed
exclusive of any other rights to which Indemnitee may at any time be entitled under
applicable law, the Certificate, the Bylaws, any agreement, a vote of stockholders or a
resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement
or of any provision hereof shall limit or restrict any right of Indemnitee under this
Agreement in respect of any action taken or omitted by such Indemnitee in his Corporate
Status prior to such amendment, alteration or repeal. To the extent that a change in the
DGCL, whether by statute or judicial decision, permits greater indemnification than would be
afforded currently under the Bylaws and this Agreement, it is the intent of the parties
hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by
such change. No right or remedy herein conferred is intended to be exclusive of any other
right or remedy, and every other right and remedy shall be cumulative and in addition to
every other right and remedy given hereunder or now or hereafter existing at law or in
equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any other right or
remedy.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">8.2 In the event of any payment by the Company under this Agreement, the Company shall be
subrogated to the extent of such payment to all of the rights of recovery of Indemnitee with
respect thereto and Indemnitee, shall execute all papers required and take all action
necessary to secure such rights, including execution of such documents as are necessary to
enable the Company to bring suit to enforce such rights.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">8.3 The Company shall not be liable under this Agreement to make any payment of amounts
otherwise indemnifiable hereunder if and to the extent that Indemnitee has otherwise
actually received such payment under any insurance policy, contract, agreement or otherwise.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">8.4 In the event the Company enters into an indemnification agreement with another officer
or director, as the case may be, containing terms more favorable to the indemnitee than the
terms contained herein (and absent special circumstances justifying such more favorable
terms), Indemnitee shall be afforded the benefit of such more favorable terms and such more
favorable terms shall be deemed incorporated by reference herein as if set forth in full
herein. As promptly as practicable following the execution thereof, the Company shall (a)
send a copy of the agreement containing more favorable terms to Indemnitee, and (b)&nbsp;prepare,
execute and deliver to Indemnitee an amendment to this Agreement containing such more
favorable terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.&nbsp;Exceptions to Right of Indemnification. </B>Notwithstanding any other provision of this
Agreement, Indemnitee shall not be entitled to indemnification under this Agreement:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">9.1 with respect to any Proceeding brought by Indemnitee, or any claim therein, unless (a)
the bringing of such Proceeding or making of such claim shall have been
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">approved by the
Board of Directors or (b)&nbsp;such Proceeding is being brought by the Indemnitee to assert,
interpret or enforce his or her rights under this Agreement or any other agreement or
insurance policy or under the Company&#146;s Certificate or Bylaws now or hereafter in effect.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">9.2 for Expenses incurred by Indemnitee with respect to any action instituted (i)&nbsp;by
Indemnitee to enforce or interpret this Agreement, if a court having jurisdiction over such
action finally determines (and all rights of appeal therefrom have been exhausted or lapsed)
that necessary assertions made by Indemnitee as a basis for such action were not made in
good faith or were frivolous, or (ii)&nbsp;by or in the name of the Company to enforce or
interpret this Agreement, if a court having jurisdiction over such action finally determines
(and all rights of appeal therefrom have been exhausted or lapsed) that such each of the
material defenses asserted by Indemnitee was made in bad faith or was frivolous.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">9.3 for Expenses and other liabilities arising from the purchase and sale by Indemnitee of
securities in violation of Section 16(b) of the Securities Exchange Act of 1934, or any
similar state or successor statute.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.&nbsp;Duration of Agreement</B>. All agreements and obligations of the Company contained herein
shall continue during the period Indemnitee is an officer or director of the Company (or is or was
serving at the request of the Company as a director, officer, employee or agent of another
Enterprise) and shall continue thereafter so long as Indemnitee shall be subject to any Proceeding
(or any proceeding commenced under <U>Section&nbsp;7</U> hereof) by reason of his Corporate Status,
whether or not Indemnitee is acting or serving in any such capacity at the time any liability or
expense is incurred for which indemnification can be provided under this Agreement. This Agreement
shall continue in effect regardless of whether Indemnitee continues to serve as an officer or
director of the Company or any other Enterprise at the Company&#146;s request.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.&nbsp;Miscellaneous.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.1 <B>Notice by Indemnitee. </B>Indemnitee agrees promptly to notify the Company in writing upon
being served with any summons, citation, subpoena, complaint, indictment, information or
other document relating to any Proceeding or matter which may be subject to indemnification
covered hereunder. The failure to so notify the Company shall not relieve the Company of
any obligation which it may have to Indemnitee under this Agreement or otherwise, unless and
only to the extent that such failure or delay materially prejudices the Company.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.2 <B>No Employment Agreement. </B>Nothing contained in this Agreement shall be construed as
giving Indemnitee any right to be retained in the employment of the Company or any of its
subsidiaries or affiliated entities.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.3 <B>Entire Agreement. </B>This Agreement and the certificates, documents, instruments and
writings that are delivered pursuant hereto constitutes the entire agreement and
understanding of the Company and Indemnitee in respect of its subject matters and
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">supersedes
all prior understandings, agreements, or representations by or among the Company and
Indemnitee, written or oral, to the extent they relate in any way to the subject matter
hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.4 <B>Successors. </B>All of the terms, agreements, covenants, representations, warranties, and
conditions of this Agreement are binding upon, and inure to the benefit of and are
enforceable by, the Company and the Indemnitee and their respective successors and permitted
assigns.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.5 <B>Assignment. </B>Neither the Company nor Indemnitee may assign either this Agreement or any
of its rights, interests, or obligations hereunder without the prior written approval of the
other; provided, however, that the Company shall assign all (but not less than all) of its
rights, obligations and interests hereunder to any direct or indirect successor to all or
substantially all of the business or assets of the Company by purchase, merger,
consolidation or otherwise and shall cause such successor to be bound by and expressly
assume the terms and provisions hereof. Notwithstanding anything to the contrary contained
herein, this Agreement will inure to the benefit of and be enforceable by Indemnitee&#146;s
personal or legal representatives, executors, administrators, successors, heirs, distributes
and legatees.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.6 <B>Notices. </B>All notices, requests, demands, claims and other communications hereunder will
be in writing. Any notice, request, demand, claim or other communication hereunder will be
deemed duly given if (and then three business days after) it is sent by registered or
certified mail, return receipt requested, postage prepaid, and addressed to the intended
recipient as set forth below:
</DIV>
<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">If to Company:<BR><BR>

Thor Industries, Inc.<BR><BR>

Attn: Walter Bennett
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 0pt">419 West Pike Street<BR>
Jackson Center, Ohio 45334
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 0pt">Tel: (937)&nbsp;596-6111<BR>
Fax: (937)&nbsp;596-6539
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">Copy to (which will not constitute notice):
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">Akin Gump Strauss Hauer &#038; Feld LLP
</DIV>

<DIV align="left" style="font-size: 10pt; margin-left: 9%; margin-top: 6pt">Attn: Alan Siegel, Esq.<BR>
590 Madison Avenue<BR>
New York, New York 10022<BR>
Tel: (212) 872-1000<BR>
Fax: (212) 872-1002
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->11<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">If to Indemnitee:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">Attn:</TD>

    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#091;<I>Insert address</I>&#093;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tel:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(&nbsp;&nbsp;&nbsp;&nbsp;)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fax:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(&nbsp;&nbsp;&nbsp;&nbsp;)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">Copy to (which will not constitute notice):</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#091;<I>Insert name of Indemnitee&#146;s law firm</I>&#093;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top">Attn:</TD>

    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">&#091;<I>Insert address</I>&#093;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Tel:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(&nbsp;&nbsp;&nbsp;&nbsp;)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Fax:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(&nbsp;&nbsp;&nbsp;&nbsp;)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">Either party may send any notice, request, demand, claim, or other communication hereunder
to the intended recipient at the address set forth above using any other means (including
personal delivery, expedited courier, messenger service, telecopy, telex, ordinary mail, or
electronic mail), but no such notice, request, demand, claim, or other communication will be
deemed to have been duly given unless and until it actually is received by the intended
recipient. Either party may change the address to which notices, requests, demands, claims,
and other communications hereunder are to be delivered by giving the other Parties notice in
the manner herein set forth.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.7 <B>Specific Performance. </B>The Company and Indemnitee each acknowledges and agrees that the
other would be damaged irreparably if any provision of this Agreement is not performed in
accordance with its specific terms or is otherwise breached. Accordingly, each party agrees
that the other party will be entitled to an injunction or injunctions to prevent beaches of
the provisions of this Agreement and to enforce specifically this Agreement and its terms
and provisions in any action instituted in any
court of the United States or any state thereof having jurisdiction over the parties and
the matter, in addition to any other remedy to which they may be entitled at law or in
equity.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.8 <B>Counterparts. </B>This Agreement may be executed in one or more counterparts, each of
which will be deemed an original but all of which together will constitute one and the same
instrument.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.9 <B>Headings. </B>The article and section headings contained in this Agreement are inserted
for convenience only and will not affect in any way the meaning or interpretation of this
Agreement.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->12<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.10 <B>Governing Law. </B>This Agreement and the performance of the parties&#146; obligations
hereunder will be governed by and construed in accordance with the laws of the State of
Delaware, without giving effect to any choice of law principles thereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.11 <B>Amendments and Waivers. </B>No amendment, modification, replacement, termination,
cancellation or waiver of any provision of this Agreement will be valid, unless the same
will be in writing and signed by each of the parties hereto. No waiver by either party of
any default, misrepresentation, or breach of warranty or covenant hereunder, whether
intentional or not, may be deemed to extend to any prior or subsequent default,
misrepresentation, or breach of warranty or covenant hereunder or affect in any way any
rights arising because of any prior or subsequent such occurrence.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.12 <B>Severability. </B>The provisions of this Agreement will be deemed severable and the
invalidity or unenforceability of any provision will not affect the validity or
enforceability of the other provisions hereof; provided that if any provision of this
Agreement, as applied to any party or to any circumstance, is adjudged by a court,
arbitrator, or mediator of competent jurisdiction not to be enforceable in accordance with
its terms, the parties agree that the court, arbitrator, or mediator making such
determination will have the power to modify the provision in a manner consistent with its
objectives such that it is enforceable, and/or to delete specific words or phrases, and in
its reduced form, such provision will then be enforceable and will be enforced.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.13 <B>Expenses. </B>Except as otherwise expressly provided in this Agreement, each party will
bear its own costs and expenses incurred in connection with the preparation, execution and
performance of this Agreement, including all fees and expenses of agents, representatives,
financial advisors, legal counsel and accountants.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.14 <B>Construction. </B>The parties have participated jointly in the negotiation and drafting
of this Agreement. If an ambiguity or question of intent or interpretation arises, this
Agreement will be construed as if drafted jointly by the parties and no presumption or
burden of proof will arise favoring or disfavoring either party because of the authorship of
any provision of this Agreement. Any reference to any federal, state, local, or foreign law
will be deemed also to refer to such law as amended and all rules and regulations
promulgated thereunder, unless the context requires otherwise. The words &#147;include,&#148;
&#147;includes,&#148; and &#147;including&#148; will be deemed to be followed by &#147;without limitation.&#148; Pronouns
in masculine, feminine, and neuter genders will be construed to
include any other gender, and words in the singular form will be construed to include the
plural and vice versa, unless the context otherwise requires. The words &#147;this Agreement,&#148;
&#147;herein,&#148; &#147;hereof,&#148; &#147;hereby,&#148; &#147;hereunder,&#148; and words of similar import refer to this
Agreement as a whole and not to any particular subdivision unless expressly so limited. The
parties hereto intend that each representation, warranty, and covenant contained herein will
have independent significance. If either party has breached any representation, warranty,
or covenant contained herein in any respect, the fact that there exists another
representation, warranty or covenant relating to the same subject matter (regardless of the
relative levels of specificity) which the party has not breached will not detract from or
mitigate the fact that the party is in breach of the first representation, warranty, or
covenant.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->13<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.15 <B>Remedies. </B>Except as expressly provided herein, the rights, obligations and remedies
created by this Agreement are cumulative and in addition to any other rights, obligations,
or remedies otherwise available at law or in equity. Except as expressly provided herein,
nothing herein will be considered an election of remedies.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">11.16 <B>Electronic Signatures.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;Notwithstanding the Electronic Signatures in Global and National Commerce Act (15
U.S.C. Sec. 7001 <U>et</U>. <U>seq</U>.), the Uniform Electronic Transactions Act, or any
other law relating to or enabling the creation, execution, delivery, or recordation of any
contract or signature by electronic means, and notwithstanding any course of conduct engaged
in by the parties, no party will be deemed to have executed this Agreement or other document
contemplated thereby (including any amendment or other change thereto) unless and until such
party shall have executed this Agreement or other document on paper by a handwritten
original signature or any other symbol executed or adopted by such party with current
intention to authenticate this Agreement or such other document contemplated.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b)&nbsp;Delivery of a copy of this Agreement or such other document bearing an original
signature by facsimile transmission (whether directly from one facsimile device to another
by means of a dial-up connection or whether mediated by the worldwide web), by electronic
mail in &#147;portable document format&#148; (&#147;.pdf&#148;) form, or by any other electronic means intended
to preserve the original graphic and pictorial appearance of a document, will have the same
effect as physical delivery of the paper document bearing the original signature, provided
a copy bearing an original signature on paper is subsequently physically delivered.
&#147;Originally signed&#148; or &#147;original signature&#148; means or refers to a signature that has not been
mechanically or electronically reproduced.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">&#091;REMAINDER OF PAGE LEFT INTENTIONALLY BLANK&#093;

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->14<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
hereinabove written.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>THOR INDUSTRIES, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:&nbsp;&nbsp;</TD>
    <TD align="left">Walter Bennett&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <Td>&nbsp;</TD>
    <TD valign="top">Title:&nbsp;&nbsp;</TD>
    <TD align="left">Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>Indemnitee</B><BR>
<BR>
<BR>
<BR>
<div style="border-top: 1px solid #000000">Name:<BR>
&nbsp;</div></TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>l31479aexv10w3.htm
<DESCRIPTION>EX-10.3
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-10.3</TITLE>
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<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.3
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THOR INDUSTRIES, INC.<BR>
2006 EQUITY INCENTIVE PLAN</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>STOCK OPTION AGREEMENT</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Stock Option Agreement (the &#147;<B><I>Agreement</I></B>&#148;) is made and entered into as of the date of grant
set forth below (the &#147;<B><I>Date of Grant</I></B>&#148;) by and between Thor Industries, Inc., a Delaware corporation
(the &#147;<B><I>Company</I></B>&#148;), and the participant named below (&#147;<B><I>Participant</I></B>&#148;). Capitalized terms not defined
herein shall have the meaning ascribed to them in the Company&#146;s 2006 Equity Incentive Plan (the
&#147;<B><I>Plan</I></B>&#148;).
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Participant:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Address:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Total Option Shares:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Exercise Price Per Share:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Date of Grant:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Expiration Date:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
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</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="70%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Type of Stock Option</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>(Check One):</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><FONT style="font-family: Wingdings">&#111;</FONT> Incentive Stock Option</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B><FONT style="font-family: Wingdings">&#111;</FONT>  Nonstatutory Stock Option</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.&nbsp;</B><U><B>Grant of Option</B></U>. The Company hereby grants to Participant an option (this
&#147;<B><I>Option</I></B>&#148;) to purchase the total number of shares of Common Stock of the Company set forth above as
Total Option Shares (the &#147;<B><I>Shares</I></B>&#148;) at the Exercise Price Per Share set forth above (the &#147;<B><I>Exercise
Price</I></B>&#148;), subject to all of the terms and conditions of this Agreement and the Plan. If designated
as an Incentive Stock Option above, the Option is intended to qualify as an &#147;incentive stock
option&#148; (an &#147;<B><I>ISO</I></B>&#148;) within the meaning of Section&nbsp;422 of the Internal Revenue Code of 1986, as
amended (the &#147;<B><I>Code</I></B>&#148;), although the Company makes no representation or guarantee that such Option
will qualify as an ISO. To the extent that the aggregate Fair Market Value (determined at the
time of grant) of Common Stock with respect to which Incentive Stock Options are exercisable for
the first time by Participant during any calendar year (under all plans of the Company and its
Affiliates) exceeds $100,000, the Options or portions thereof which exceed such limit (according to
the order in which they were granted) shall be treated as Nonstatutory Stock Options.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.&nbsp;</B><U><B>Exercise Period; Vesting</B></U>. Unless expired as provided in Section&nbsp;3 of this
Agreement, this Option may be exercised from time to time after the Date of Grant set forth above
to the extent the Option has vested in accordance with the vesting schedule set forth herein. The
Shares issued upon exercise of the Option will be subject to the restrictions on transfer set forth
in Section&nbsp;10 below. Provided Participant continues to provide Continuous Service to the Company or
any Affiliate, the Option will become vested and exercisable with
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">respect to 33 1/3% of the Shares subject thereto on each of the next three anniversaries of
the Date of Grant until the Option is 100% vested.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A vested Option may not be exercised for less than a full share. If application of the vesting
percentage causes a fractional Share to otherwise become exercisable, such Share shall be rounded
down to the nearest whole Share for each year except for the last year in such vesting period, at
the end of which vesting period this Option shall become exercisable for the full remainder of the
unexercised Shares subject to the Option. Except as provided in the Plan, upon the occurrence of a
Change in Control, the Option shall become 100% vested and exercisable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.&nbsp;</B><U><B>Expiration</B></U>. The Option shall expire on the Expiration Date set forth above or
earlier as provided in Section&nbsp;4 below or under the terms of the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.&nbsp;</B><U><B>Termination of Continuous Service</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 <U>Forfeiture of Unvested Options</U>. If Participant&#146;s Continuous Service is terminated
for any reason other than Cause, the unvested portion of the Option shall terminate at the close of
business on the date of such termination, and Participant may exercise the vested portion as
provided in this Section&nbsp;4. If Participant&#146;s Continuous Service terminates for Cause, outstanding
Options (whether or not vested) shall terminate at the beginning of business on the date of such
termination.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 <U>Termination for Any Reason Except Death, Disability or Cause</U>. If Participant&#146;s
Continuous Service is terminated for any reason, except death, Disability or Cause, the Option, to
the extent (and only to the extent) that it would have been exercisable by Participant immediately
prior to termination of Continuous Service, may be exercised by Participant until the earlier of
the Expiration Date or, except as set forth in Section&nbsp;4.4 below, the date that is three (3)&nbsp;months
following the termination of Participant&#146;s Continuous Service and the Option shall thereafter
terminate and cease to be exercisable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 <U>Termination Because of Death or Disability</U>. Except as provided in Section&nbsp;4.4
below, if Participant&#146;s Continuous Service is terminated because of death or Disability of
Participant, the Option, to the extent that it is exercisable by Participant on the date of
termination, may be exercised by Participant (by Participant&#146;s estate, by a person who acquired the
right to exercise the Option by bequest or inheritance, or by a person designated to exercise the
Option upon Participant&#146;s death) no later than twelve (12)&nbsp;months after the date of termination,
but in any event no later than the Expiration Date.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4 <U>Extension of Termination Date</U>. If the exercise of the Option following the
termination of Participant&#146;s Continuous Service would be prohibited at any time solely because the
issuance of Shares of Common Stock would violate the registration requirements under the Securities
Act or any other state or federal securities law, or the rules of any securities exchange or
interdealer quotation system on which the Company&#146;s shares are listed or traded, then the Option
shall terminate on the earlier of (a)&nbsp;the Expiration Date or (b)&nbsp;the expiration of a period after
termination of Participant&#146;s Continuous Service that is three (3)&nbsp;months after the end of the
period during which the exercise of the Option would be in violation of such registration or other
securities law requirements or rules. If permitted by this Section&nbsp;4.4, any exercise of an ISO
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">beyond (a)&nbsp;three (3)&nbsp;months after the date of termination when the termination is for any
reason other than Participant&#146;s death or Disability or (b)&nbsp;twelve (12)&nbsp;months after the date of
termination when the termination is for Participant&#146;s Disability will cause the Option to be deemed
a Nonstatutory Stock Option and not an ISO.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 <U>No Obligation to Employ</U>. Nothing in the Plan or this Agreement shall confer on
Participant any right to provide Continuous Service, or limit in any way the right of the Company
or any Affiliate to terminate Participant&#146;s employment or other relationship at any time, with or
without Cause.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.&nbsp;</B><U><B>Manner of Exercise</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 <U>Stock Option Exercise Agreement</U>. To exercise this Option, Participant (or in the
case of exercise after Participant&#146;s death or incapacity, Participant&#146;s executor, administrator,
heir or legatee, as the case may be) must deliver to the Company an executed stock option exercise
agreement in the form attached hereto as Exhibit&nbsp;A, or in such other form as may be approved by the
Administrator from time to time (the &#147;<B><I>Exercise Agreement</I></B>&#148;), which shall set forth, inter alia, (a)
Participant&#146;s election to exercise the Option, (b)&nbsp;the number of Shares being purchased, (c)&nbsp;any
restrictions imposed on the Shares and (d)&nbsp;any representations, warranties and agreements regarding
Participant&#146;s investment intent and access to information as may be required by the Company to
comply with applicable securities laws. If someone other than Participant exercises the Option,
then such person must submit documentation reasonably acceptable to the Company verifying that such
person has the legal right to exercise the Option. The entire Exercise Price of this Option to
purchase Shares of Common Stock issued under the Plan shall be payable in full, to the extent
permitted by applicable statutes and regulations, in cash or by certified or bank check at the time
of exercise for an amount equal to the aggregate Exercise Price Per Share for the number of Shares
being purchased or any other form of legal consideration that may be acceptable to the
Administrator.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 <U>Tax Withholding</U>. Prior to the issuance of the Shares upon exercise of the Option,
Participant must pay or provide for any applicable federal, state and local withholding obligations
of the Company. The Company has the right to withhold from any compensation paid to Participant.
If the Administrator permits, Participant also may provide for payment of withholding taxes upon
exercise of the Option by tendering a cash payment.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.3 <U>Issuance of Shares</U>. Provided that the Exercise Agreement and payment are in form
and substance satisfactory to counsel for the Company, the Company shall issue the Shares
registered in the name of Participant, Participant&#146;s authorized assignee, or Participant&#146;s legal
representative, and shall deliver certificates representing the Shares with the appropriate legends
affixed thereto.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.&nbsp;</B><U><B>Notice Of Disqualifying Disposition Of ISO Shares</B></U>. If the Option is an ISO, and if
Participant sells or otherwise disposes of any of the Shares acquired pursuant to the ISO on or
before the later of (a)&nbsp;the date two (2)&nbsp;years after the Date of Grant, and (b)&nbsp;the date one (1)
year after transfer of such Shares to Participant upon exercise of the Option, Participant shall
immediately notify the Company in writing of such disposition. In the event any such disposition
causes the Company to incur additional federal, state, or local tax withholding
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">obligations, Participant will satisfy any such obligations in cash or out of the current wages
or other compensation payable to Participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.&nbsp;</B><U><B>Compliance With Laws And Regulations</B></U>. The exercise of the Option and the issuance
and transfer of Shares shall be subject to compliance by the Company and Participant with all
applicable requirements of federal and state securities laws and with all applicable requirements
of any stock exchange on which the Company&#146;s Common Stock may be listed at the time of such
issuance or transfer. Participant understands that the Company is under no obligation to register
or qualify the Shares with the SEC, any state securities commission or any stock exchange to effect
such compliance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>8.&nbsp;</B><U><B>Nontransferability of Option</B></U>. If the Option is an ISO, the Option may not be
transferred in any manner other than by will or by the laws of descent and distribution and may be
exercised during the lifetime of Participant only by Participant. If the Option is not an ISO,
upon written approval by the Administrator in its sole discretion, it may be transferred (a)&nbsp;by
gift or domestic relations order to a member of Participant&#146;s immediate family (child, stepchild,
grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law,
including adoptive relationships), any person sharing Participant&#146;s household (other than a tenant
or employee), a trust in which these persons have more than 50% of the beneficial interest, a
foundation in which these persons (or Participant) control the management of assets, and any other
entity in which these persons (or Participant) own more than 50% of the voting interests; (b)&nbsp;to
third parties designated by the Administrator in connection with a program established and approved
by the Administrator pursuant to which Participants may receive a cash payment or other
consideration in consideration for the transfer of such Option; or (c)&nbsp;to such other transferee as
permitted by the Administrator in its sole discretion. Notwithstanding the foregoing, Participant
may, by delivering written notice to the Company, in a form satisfactory to the Company, designate
a third party who, in the event of Participant&#146;s death, shall be entitled to exercise the Option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>9.&nbsp;</B><U><B>Privileges of Stock Ownership</B></U>. Participant shall not have any of the rights of a
Stockholder with respect to any Shares unless and until the Shares are issued to Participant.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>10.&nbsp;</B><U><B>Securities Law Restrictions on Transfer</B></U>. Regardless of whether the offering and
sale of Shares under the Plan have been registered under the Securities Act or have been registered
or qualified under the securities laws of any state, the Company at its discretion may impose
restrictions upon the sale, pledge or other transfer of such Shares (including the placement of
appropriate legends on stock certificates or the imposition of stop-transfer instructions) if, in
the judgment of the Company, such restrictions are necessary or desirable in order to achieve
compliance with the Securities Act, the securities laws of any state or any other law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.&nbsp;</B><U><B>Adjustments Upon Changes in Stock</B></U><B><I>. </I></B>This Award is subject to the adjustment
provisions set forth in the Plan.
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>12.&nbsp;</B><U><B>Restrictive Covenants</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.1 <U>Confidentiality</U>. In consideration of the Option, Participant agrees to keep
confidential all information of a proprietary or confidential nature belonging to the Company or
any of its Affiliates, including but not limited to, business plans, files, records, data,
documents, plans, research, development, policies, customer or client lists, price lists, the name
and address of suppliers, customers or representatives, or any other matters of any kind or
description, relating to the products, devices, suppliers, customers, clientele, sales or business
of the Company or any of its Affiliates (i)&nbsp;&nbsp;obtained by Participant during Continuous Service and
(ii)&nbsp;&nbsp;not otherwise public knowledge (other than by reason of an unauthorized act by Participant).
After termination of Continuous Service, Participant shall not, without the prior written consent
of the Company, unless compelled pursuant to an order of a court or other body having jurisdiction
over such matter, communicate or divulge any such information, knowledge or data to anyone other
than the Company and those designated by it.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.2 <U>Non-solicitation and Non-competition</U>. In consideration of the Option,
Participant agrees not to (i)&nbsp;directly or indirectly, solicit or recruit any individual employed by
the Company or its Affiliates for the purpose of being employed directly or indirectly by
Participant or by any competitor of the Company on whose behalf Participant is acting as an agent,
representative or employee, or convey any confidential information or trade secrets regarding other
employees of the Company or its Affiliates to any other person during Continuous Service and for a
period of eighteen (18)&nbsp;months thereafter; or (ii)&nbsp;directly or indirectly, influence or attempt to
influence customers of the Company or any of its Affiliates to direct their business to any
competitor of the Company during Continuous Service and for a period of eighteen (18)&nbsp;months
thereafter; or (iii)&nbsp;compete with the Company in the recreational vehicle business or the bus
business while Participant is in Continuous Service and for a period of eighteen (18)&nbsp;months
thereafter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>13.&nbsp;</B><U><B>General</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.1 <U>Interpretation</U>. Any dispute regarding the interpretation of this Agreement shall
be submitted by Participant or the Company to the Administrator for review. The resolution of such
a dispute by the Administrator shall be final and binding on the Company and Participant.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.2 <U>Entire Agreement</U>. The Plan is incorporated herein by reference. This Agreement
and the Plan constitute the entire agreement of the parties and supersede all prior undertakings
and agreements with respect to the subject matter hereof. If any inconsistency should exist between
the nondiscretionary terms and conditions of this Agreement and the Plan, the Plan shall govern and
control.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.3 <U>Notices</U>. Any notice required to be given or delivered to the Company under the
terms of this Agreement shall be in writing and addressed to the Corporate Secretary of the Company
at its principal corporate offices. Any notice required to be given or delivered to Participant
shall be in writing and addressed to Participant at the address indicated above or to
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">such other address as such party may designate in writing from time to time to the Company.
All notices shall be deemed to have been given or delivered upon: (a)&nbsp;personal delivery; (b)&nbsp;five
(5)&nbsp;days after deposit in the United States mail by certified or registered mail (return receipt
requested); (c)&nbsp;two (2)&nbsp;business days after deposit with any return receipt express courier
(prepaid); or (d)&nbsp;one (1)&nbsp;business day after transmission by facsimile.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.4 <U>Successors and Assigns</U>. The Company may assign any of its rights under this
Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and
assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement
shall be binding upon and shall inure to the benefit of Participant and Participant&#146;s heirs,
executors, administrators, legal representatives, successors and assigns.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.5 <U>Governing Law</U>. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware without giving effect to its conflict of law principles. If
any provision of this Agreement is determined by a court of law to be illegal or unenforceable,
then such provision will be enforced to the maximum extent possible and the other provisions will
remain fully effective and enforceable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>14.&nbsp;</B><U><B>Acceptance</B></U>. Participant hereby acknowledges receipt of a copy of the Plan and this
Agreement. Participant has read and understands the terms and provisions thereof, and accepts the
Option subject to all the terms and conditions of the Plan and this Agreement. Participant
acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition
of the Shares and that Participant should consult a tax advisor prior to such exercise or
disposition.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>15.&nbsp;</B><U><B>Section&nbsp;409A Limitation</B></U>. In the event the Administrator determines at any time
that this Option has been granted with an exercise price less than Fair Market Value of the Shares
subject to the Option on the date the Option is granted (regardless of whether or not such exercise
price is intentionally or unintentionally priced at less than Fair Market Value, or is materially
modified at a time when the Fair Market Value exceeds the exercise price), or is otherwise
determined to constitute &#147;nonqualified deferred compensation&#148; within the meaning of Section&nbsp;409A of
the Code, notwithstanding any provision of the Plan or this Agreement to the contrary, the Option
shall satisfy the additional conditions applicable to nonqualified deferred compensation under
Section&nbsp;409A of the Code, in accordance with Section&nbsp;8 of the Plan. The specified exercise date and
term shall be the default date and term specified in Section&nbsp;8 of the Plan. Notwithstanding the
foregoing, the Company shall have no liability to any Participant or any other person if an Option
designated as an Incentive Stock Option fails to qualify as such at any time or if an Option is
determined to constitute &#147;nonqualified deferred compensation&#148; within the meaning of Section&nbsp;409A of
the Code and the terms of such Option do not satisfy the additional conditions applicable to
nonqualified deferred compensation under Section&nbsp;409A of the Code and Section&nbsp;8 of the Plan.
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">&#091;signature page follows&#093;

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly
authorized representative and Participant has executed this Agreement, effective as of the Date of
Grant.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>THOR INDUSTRIES, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>PARTICIPANT</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">By:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Signature)</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(Please print name)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT A</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>FORM OF STOCK OPTION EXERCISE AGREEMENT</B>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="70%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings">&#111;</FONT> Incentive Stock Option
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Optionee: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings">&#111;</FONT> Nonstatutory Stock Option
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Date: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>STOCK OPTION EXERCISE NOTICE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thor Industries, Inc.<BR>
419 W. Pike Street<BR>
Jackson Center, Ohio 45334-0629<BR>
Attention: Chief Financial Officer

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Ladies and Gentlemen:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>1.&nbsp;</B><U><B>Option</B></U>. I was granted an option (the &#147;<B><I>Option</I></B>&#148;) to purchase shares of the common
stock (the &#147;<B><I>Shares</I></B>&#148;) of Thor Industries, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), pursuant to
the Company&#146;s 2006 Equity Incentive Plan (the &#147;<B><I>Plan</I></B>&#148;) and my Stock Option Agreement (the &#147;<B><I>Stock
Option Agreement</I></B>&#148;) as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date of Option Grant:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Number of Option Shares:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Exercise Price per Share:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$ <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>2.&nbsp;</B><U><B>Exercise of Option</B></U>. I hereby elect to exercise the Option to purchase the following
number of Shares, all of which are vested Shares in accordance with the Stock Option Agreement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Shares Purchased: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Exercise Price &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Total Shares X Price per Share) $ <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>3.&nbsp;</B><U><B>Payments</B></U>. I enclose payment in full of the total exercise price for the Shares in
the following form(s), as authorized by my Stock Option Agreement:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$ <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>4.&nbsp;</B><U><B>Tax Withholding</B></U>. I authorize payroll withholding and otherwise will make adequate
provision for the federal, state, local and foreign tax withholding obligations of the Company, if
any, in connection with the Option.</DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>5.&nbsp;</B><U><B>Optionee Information</B></U>.</DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;My address is:</DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;My Social Security Number is:</DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>6.&nbsp;</B><U><B>Notice of Disqualifying Disposition</B></U>. If the Option is an Incentive Stock Option, I
agree that I will promptly notify the Treasurer of the Company if I transfer any of the Shares
within one (1)&nbsp;year from the date I exercise all or part of the Option or within two (2)&nbsp;years of
the Date of Option Grant.</DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>7.&nbsp;</B><U><B>Binding Effect</B></U>. I agree that the Shares are being acquired in accordance with and
subject to the terms, provisions and conditions of the Stock Option Agreement to all of which I
hereby expressly assent. This letter shall inure to the benefit of and be binding upon my heirs,
executors, administrators, successors and assigns.</DIV>

<DIV style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I understand that I am purchasing the Shares pursuant to the terms of the Plan and my Stock
Option Agreement, copies of which I have received and carefully read and understand.</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Very truly yours,</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">(Signature)
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top">Receipt of the above is hereby acknowledged.</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="3" valign="top">THOR INDUSTRIES, INC.</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">Dated:</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio --></DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>l31479aexv10w4.htm
<DESCRIPTION>EX-10.4
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-10.4</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 6pt">Exhibit 10.4

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 12pt"><B>DIRECTOR
RESTRICTED STOCK AWARD AGREEMENT<BR>RESTRICTED STOCK AWARD (#)</B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THOR INDUSTRIES, INC.<BR>
2006 EQUITY INCENTIVE PLAN<BR>
RESTRICTED STOCK AWARD CERTIFICATE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS IS TO CERTIFY that Thor Industries, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), has
offered you (&#147;<B><I>Grantee</I></B>&#148;) the right to receive Common Stock (the &#147;<B><I>Stock</I></B>&#148; or &#147;<B><I>Shares</I></B>&#148;) of the Company
under its 2006 Equity Incentive Plan (the &#147;<B><I>Plan</I></B>&#148;), as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="50%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name of Grantee:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Address of Grantee:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Number of Shares:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Grant Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Vesting Schedule<SUP style="font-size: 85%; vertical-align: text-top">1</SUP>:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Percentage of the</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Award Vested</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By your signature and the signature of the Company&#146;s representative below, you and the Company
agree to be bound by all of the terms and conditions of the Restricted Stock Award Agreement, which
is attached hereto as Annex I (the &#147;<B><I>Award Agreement</I></B>&#148;) and the Plan (both incorporated herein by
this reference as if set forth in full in this document). By executing this Certificate, you hereby
irrevocably elect to accept the Restricted Stock Award rights granted pursuant to this Certificate
and the related Award Agreement and to receive the shares of Restricted Stock of Thor Industries,
Inc. designated above subject to the terms of the Plan, this Certificate and the Award Agreement.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><B>GRANTEE:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>THOR INDUSTRIES, INC.</B></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" style="border-top: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dated:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dated:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>As determined by the Administrator under the Plan.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>ANNEX I</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THOR INDUSTRIES, INC.<BR>
2006 EQUITY INCENTIVE PLAN<BR>
RESTRICTED STOCK AWARD AGREEMENT</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Restricted Stock Award Agreement (this &#147;<B><I>Agreement</I></B>&#148;), is made and entered into on the
Grant Date of the Restricted Stock Award Certificate to which it is attached (the &#147;<B><I>Certificate</I></B>&#148;),
by and between Thor Industries, Inc., a Delaware corporation (the &#147;<B><I>Company&#148;</I></B>), and the Director
(&#147;<B><I>Grantee</I></B>&#148;) named in the Certificate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Thor Industries, Inc. 2006 Equity Incentive Plan (the &#147;<B><I>Plan</I></B>&#148;), the
Administrator of the Plan has authorized the grant to Grantee of the right to receive shares of the
Company&#146;s Common Stock (the &#147;<B><I>Award</I></B>&#148;), upon the terms and subject to the conditions set forth in
this Agreement and in the Plan. Except as otherwise provided herein, or unless the context clearly
indicates otherwise, capitalized terms not otherwise defined herein shall have the same definitions
as provided in the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the premises and the benefits to be derived from the
mutual observance of the covenants and promises contained herein and other good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;<U><B>Basis for Award</B></U>. This Award is made pursuant to the Plan for valid consideration
provided to the Company by Grantee. By your execution of the Certificate, you agree to accept the
Restricted Stock Award rights granted pursuant to the Certificate and this Agreement and to receive
the shares of Restricted Stock of the Company designated in the Certificate subject to the terms of
the Plan, the Certificate and this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;<U><B>Restricted Stock Award</B></U>. The Company hereby awards and grants to Grantee, for valid
consideration with a value in excess of the aggregate par value of the Common Stock awarded to
Grantee, the number of shares of Common Stock of the Company set forth in the Certificate, which
shall be subject to the restrictions and conditions set forth in the Plan, the Certificate and this
Agreement (the &#147;<B><I>Restricted Stock</I></B>&#148;). One or more stock certificates representing the number of
Shares specified in the Certificate shall hereby be registered in Grantee&#146;s name (the &#147;<B><I>Stock
Certificate</I></B>&#148;), but shall be deposited and held in the custody of the Company for Grantee&#146;s account
as provided in Section&nbsp;8 hereof until such Restricted Stock becomes vested.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;<U><B>Vesting and Termination of Continuous Service</B></U>. The Restricted Stock shall vest and
restrictions on transfer shall lapse subject to the Vesting Schedule set forth in the Certificate.
Upon the occurrence of a Change in Control, the Restricted Stock shall become 100% vested on such
event and the restrictions on transfer shall lapse. The shares of Restricted Stock which have not
vested in accordance with the Certificate (the &#147;<B><I>Unvested Shares</I></B>&#148;) shall become vested and the
restrictions on transfer shall lapse upon the earlier to occur of Grantee&#146;s death or Disability.
If Grantee ceases Continuous Service for any other reason (including termination by the Company or
its Affiliates for Cause),<SUP style="font-size: 85%; vertical-align: text-top"> </SUP>the Unvested Shares shall be forfeited
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">immediately and cancelled as outstanding shares of Common Stock. Prior to vesting, all
Unvested Shares shall be subject to the restrictions set forth in this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;<U><B>Compliance with Laws and Regulations</B></U>. The issuance, transfer, vesting, and
ownership of Common Stock shall be subject to compliance by the Company and Grantee with all
applicable requirements of federal and state securities laws and with all applicable requirements
of any stock exchange on which the Company&#146;s Common Stock may be listed at the time of such
issuance or transfer. Grantee agrees to cooperate with the Company to ensure compliance with such
laws and requirements. Prior to issuance or transfer of Common Stock, the Company may require
Grantee to execute and deliver a letter of investment intent in such form and containing such
provisions as requested by the Administrator.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;<U><B>Section&nbsp;</B><B>83(b)</B><B> Election</B></U>. Grantee may elect, within thirty (30)&nbsp;days of the Grant
Date, to include in gross income for federal income tax purposes an amount equal to the Fair Market
Value of the Restricted Stock less the amount, if any, paid by Grantee (other than by prior
services) for the Restricted Stock granted hereunder pursuant to Section 83(b) of the Internal
Revenue Code of 1986, as amended.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;<U><B>No Right to Continued Service</B></U>. Nothing in this Agreement shall be deemed by
implication or otherwise to impose any limitation on any right of the Company to terminate
Grantee&#146;s service as a director at any time and for any reason.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;<U><B>Representations and Warranties of Grantee</B></U>. Grantee represents and warrants to the
Company that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Agrees to Terms of the Plan and the Agreement</U>. Grantee has received a copy of the
Plan, the Certificate, and this Agreement and has read and understands the terms thereof. Grantee
acknowledges that there may be adverse tax consequences upon the vesting of Restricted Stock or
disposition of the shares of Common Stock once vested, and that Grantee should consult a tax
advisor prior to such time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Stock Ownership</U>. Grantee is the record and beneficial owner of the shares of
Restricted Stock with full right and power to vote and receive dividends on such shares;
<U>provided</U>, <U>that</U>, Grantee understands that the stock certificates evidencing the
Restricted Stock will bear a legend referencing this Agreement. Any dividends which are paid in
cash shall be distributed to Grantee as soon as practicable. If any dividends are paid in Common
Stock during an applicable period of restriction, Grantee shall receive such shares subject to the
same restrictions as the Restricted Stock with respect to which they were issued.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;<U><B>Restrictions on Unvested Shares</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Deposit of the Unvested Shares</U>. Grantee shall deposit all of the Unvested Shares
with the Company to hold until the Unvested Shares become vested, at which time such vested shares
shall no longer constitute Unvested Shares. Grantee shall execute and deliver to the Company,
concurrently with the execution of this Agreement blank stock powers for use in connection with the
transfer to the Company or its designee of Unvested Shares that do not become vested. The Company
will deliver to Grantee the Stock Certificate for the shares of Common Stock that become vested
upon vesting of such shares.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Restriction on Transfer of Unvested Shares</U>. Grantee shall not sell, transfer,
assign, grant a lien or security interest in, pledge, hypothecate as collateral for a loan or as
security for the performance of any obligation or for any other purpose, encumber or otherwise
dispose of any of the Unvested Shares, except as permitted by this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;<U><B>Adjustments</B></U>. This Award is subject to the adjustment provisions set forth in the
Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;<U><B>Restrictive Legends and Stop-Transfer Orders</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Legends</U>. Grantee understands and agrees that the Company will place the legends
set forth below or similar legends on any stock certificate(s) evidencing the Common Stock,
together with any other legends that may be required by state or U.S. Federal securities laws, the
Company&#146;s Certificate of Incorporation or Bylaws, any other agreement between Grantee and the
Company or any agreement between Grantee and any third party:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON PUBLIC RESALE AND
TRANSFER, AS SET FORTH IN A RESTRICTED STOCK AWARD AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL
HOLDER OF THESE SHARES. SUCH PUBLIC SALE AND TRANSFER RESTRICTIONS ARE BINDING ON TRANSFEREES OF
THESE SHARES.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Stop-Transfer Instructions</U>. Grantee agrees that, to ensure compliance with the
restrictions imposed by this Agreement, the Company may issue appropriate &#147;stop-transfer&#148;
instructions to its transfer agent, if any, and if the Company transfers its own securities, it may
make appropriate notations to the same effect in its own records.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Refusal to Transfer</U>. The Company will not be required (i)&nbsp;to transfer on its books
any shares of Common Stock that have been sold or otherwise transferred in violation of any of the
provisions of this Agreement or (ii)&nbsp;to treat as owner of such shares, or to accord the right to
vote or pay dividends to any purchaser or other transferee to whom such shares have been so
transferred.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>11.&nbsp;</B><U><B>Restrictive Covenants</B></U><B>.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Confidentiality</U>. In consideration of the Award, Grantee agrees to keep
confidential all information of a proprietary or confidential nature belonging to the Company or
any of its Affiliates, including but not limited to, business plans, files, records, data,
documents, plans, research, development, policies, customer or client lists, price lists, the name
and address of suppliers, customers or representatives, or any other matters of any kind or
description, relating to the products, devices, suppliers, customers, clientele, sales or business
of the Company or any of its Affiliates (i)&nbsp;&nbsp;obtained by Grantee during Continuous Service and
(ii)&nbsp;&nbsp;not otherwise public knowledge (other than by reason of an unauthorized act by Grantee).
After termination of Continuous Service, Grantee shall not, without the prior written consent of
the Company, unless compelled pursuant to an order of a court or other body having jurisdiction
over such matter, communicate or divulge any such information, knowledge or data to anyone other
than the Company and those designated by it.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Non-solicitation and Non-competition</U>. In consideration of the Award, Grantee
agrees not to (i)&nbsp;directly or indirectly, solicit or recruit any individual employed by the Company
or its Affiliates for the purpose of being employed directly or indirectly by Grantee or by any
competitor of the Company on whose behalf Grantee is acting as an agent, representative or
employee, or convey any confidential information or trade secrets regarding other employees of the
Company or its Affiliates to any other person during Continuous Service and for a period of
eighteen (18)&nbsp;months thereafter; or (ii)&nbsp;directly or indirectly, influence or attempt to influence
customers of the Company or any of its Affiliates to direct their business to any competitor of the
Company during Continuous Service and for a period of eighteen (18)&nbsp;months thereafter; or (iii)
compete with the Company in the recreational vehicle business or the bus business while Grantee is
in Continuous Service and for a period of eighteen (18)&nbsp;months thereafter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;<U><B>Modification</B></U>. Except as specifically provided in the Plan, the Agreement may not
be modified except in writing signed by both parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;<U><B>Interpretation</B></U>. Any dispute regarding the interpretation of this Agreement shall
be submitted by Grantee or the Company to the Administrator for review. The resolution of such a
dispute by the Administrator shall be final and binding on the Company and Grantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;<U><B>Entire Agreement</B></U>. The terms and provisions of the Plan are incorporated herein by
reference. In the event of a conflict or inconsistency between the terms and provisions of the
Plan, the Certificate, and this Agreement, the Plan shall govern and control. This Agreement, the
Certificate and the Plan constitute the entire agreement of the parties and supersede all prior
undertakings and agreements with respect to the subject matter hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;<U><B>Notices</B></U>. Any notice required to be given or delivered to the Company under the
terms of this Agreement shall be in writing and addressed to the Corporate Secretary of the Company
at its principal corporate offices. Any notice required to be given or delivered to Grantee shall
be in writing and addressed to Grantee at the address indicated on the signature page hereof or to
such other address as such party may designate in writing from time to time to the Company. All
notices shall be deemed to have been given or delivered upon: (a)&nbsp;personal delivery; (b)&nbsp;five (5)
days after deposit in the United States mail by certified or registered mail (return receipt
requested); (c)&nbsp;two (2)&nbsp;business days after deposit with any return receipt express courier
(prepaid); or (d)&nbsp;one (1)&nbsp;business day after transmission by facsimile.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;<U><B>Successors and Assigns</B></U>. The Company may assign any of its rights under this
Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and
assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement
shall be binding upon Grantee and Grantee&#146;s heirs, executors, administrators, legal
representatives, successors and assigns.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;<U><B>Governing Law</B></U>. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware without giving effect to its conflict of law principles. If
any provision of this Agreement is determined by a court of law to be illegal or unenforceable,
then such provision will be enforced to the maximum extent possible and the other provisions will
remain fully effective and enforceable.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT A</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THOR INDUSTRIES, INC. 2006 EQUITY INCENTIVE PLAN</B>

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT B</B></DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>STOCK POWER</B><BR></DIV>
<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">
(To be left blank except for signature)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For value received, the undersigned does hereby sell, assign and transfer unto Thor Industries,
Inc. &#95;&#95;&#95;shares of Common Stock of Thor Industries, Inc. represented by</DIV>


<DIV style="font-size: 10pt; margin-top: 6pt; margin-left:150pt">(#)</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: -3pt">certificate number <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">standing in the name of the undersigned.</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">The undersigned does hereby irrevocably constitute and appoint <U>&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></DIV>

<DIV style="font-size: 3pt; margin-top: 12pt; width: 100%; border-top: 1px solid #000000">&nbsp;</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">attorney to transfer the foregoing on the books of the within named company, with full power of
substitution in the premises.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This stock power may only be used in accordance with the Restricted Stock Agreement by and between
Thor Industries, Inc. and the undersigned dated as of &#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;, and any amendments
thereto.</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top">Dated:&nbsp;<DIV style="border-bottom: 1px solid #000000; margin-left:14%"></DIV></TD>


    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 0px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="2" valign="top"><DIV style="margin-left:0px; text-indent:-0px">Signature:&nbsp;</DIV></TD>

    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">Signature must correspond EXACTLY to the name shown in the certificate.</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio --></DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>EXHIBIT C</B></U>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Section&nbsp;83(b) Election Form</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Attached is an Internal Revenue Code Section 83(b) Election Form. <B>IF YOU WISH TO MAKE A SECTION
83(B) ELECTION, YOU MUST DO SO WITHIN 30 DAYS AFTER THE GRANT DATE</B>. In order to make the election,
you must completely fill out the attached form and file one copy with the Internal Revenue Service
office where you file your tax return. In addition, one copy of the statement also must be
submitted with your income tax return for the taxable year in which you make this election.
Finally, you also must submit a copy of the election form to the Company within ten (10)&nbsp;days after
filing that election with the Internal Revenue Service. A Section 83(b) election normally cannot
be revoked.<U> </U>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THOR INDUSTRIES, INC. 2006 EQUITY INCENTIVE PLAN</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 47%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Election to Include Value of Restricted Stock in Gross Income<BR>
in Year of Transfer Under Internal Revenue Code Section&nbsp;83(b)</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 47%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Section 83(b) of the Internal Revenue Code, I hereby elect within 30&nbsp;days after
receiving the property described herein to be taxed immediately on its value specified in item 5
below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;My General Information:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="15%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Address:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">S.S.N.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">or T.I.N.:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">2. Description of the property with respect to which I am making this election:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> shares of Restricted Stock of Thor Industries, Inc.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The shares of Restricted Stock were transferred to me on <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 20<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>. This
election relates to the 20&#95;&#95;&#95;calendar taxable year.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The shares of Restricted Stock are subject to the following restrictions:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">The shares of Restricted Stock are forfeitable until they are vested in accordance
with Section&nbsp;7.1 of the Thor Industries, Inc. 2006 Equity Incentive Plan (the
&#147;<B><I>Plan</I></B>&#148;) and the Restricted Stock Award Agreement (the &#147;<B><I>Award Agreement</I></B>&#148;) entered
into between me and Thor Industries, Inc. on <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 20<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>. The shares of
Restricted Stock are not transferable until my interest becomes vested and
nonforfeitable, pursuant to the Award Agreement and the Plan.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fair market value:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">The fair market value at the time of transfer (determined without regard to any
restrictions other than restrictions which by their terms will never lapse) of the shares of Restricted Stock with respect to which I am making this election is $<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
per share.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amount paid for Restricted Stock:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">The amount I paid for the Restricted Stock is $<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> per share.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Furnishing statement to the transferor:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">I serve as a director on the board of directors of the transferor, Thor Industries,
Inc., and a copy of this statement has been furnished to the transferor.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Award Agreement or Plan not affected:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 4%">Nothing contained herein shall be held to change any of the terms or conditions of
the Award Agreement or the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dated: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;</U>, 200<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>.
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>l31479aexv10w5.htm
<DESCRIPTION>EX-10.5
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-10.5</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.5
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EMPLOYEE/CONSULTANT
RESTRICTED STOCK AWARD AGREEMENT<BR>RESTRICTED
STOCK AWARD (#)</B> _______________
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THOR INDUSTRIES, INC.<BR>
2006 EQUITY INCENTIVE PLAN<BR>
RESTRICTED STOCK AWARD CERTIFICATE</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS IS TO CERTIFY that Thor Industries, Inc., a Delaware corporation (the &#147;<B><I>Company</I></B>&#148;), has
offered you (&#147;<B><I>Grantee</I></B>&#148;) the right to receive Common Stock (the &#147;<B><I>Stock</I></B>&#148; or &#147;<B><I>Shares</I></B>&#148;) of the Company
under its 2006 Equity Incentive Plan (the &#147;<B><I>Plan</I></B>&#148;), as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="17%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Name of Grantee:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Address of Grantee:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Number of Shares:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Grant Date:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Vesting Schedule<SUP style="font-size: 85%; vertical-align: text-top">1</SUP>:
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center">Anniversary of the</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">Percentage of the</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Grant Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Award Vested</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By your signature and the signature of the Company&#146;s representative below, you and the Company
agree to be bound by all of the terms and conditions of the Restricted Stock Award Agreement, which
is attached hereto as Annex I and the Plan (both incorporated herein by this reference as if set
forth in full in this document). By executing this Certificate, you hereby irrevocably elect to
accept the Restricted Stock Award rights granted pursuant to this Certificate and the related
Restricted Stock Award Agreement and to receive the shares of Restricted Stock of Thor Industries,
Inc. designated above subject to the terms of the Plan, this Certificate and the Restricted Stock
Award Agreement.
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD colspan="3" valign="top" align="left"><B>GRANTEE:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>THOR INDUSTRIES, INC.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="3" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000; border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dated:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Dated:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="font-size: 85%; vertical-align: text-top">1</SUP></TD>
    <TD>&nbsp;</TD>
    <TD>As determined by the Administrator under the Plan.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>ANNEX I</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THOR INDUSTRIES, INC.<BR>
2006 EQUITY INCENTIVE PLAN<BR>
RESTRICTED STOCK AWARD AGREEMENT</B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Restricted Stock Award Agreement (this &#147;<B><I>Agreement</I></B>&#148;), is made and entered into on the
Grant Date of the Restricted Stock Award Certificate to which it is attached (the &#147;<B><I>Certificate</I></B>&#148;),
by and between Thor Industries, Inc., a Delaware corporation (the &#147;<B><I>Company&#148;</I></B>), and the Director,
Employee or Consultant (&#147;<B><I>Grantee</I></B>&#148;) named in the Certificate.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Thor Industries, Inc. 2006 Equity Incentive Plan (the &#147;<B><I>Plan</I></B>&#148;), the
Administrator of the Plan has authorized the grant to Grantee of the right to receive shares of the
Company&#146;s Common Stock (the &#147;<B><I>Award</I></B>&#148;), upon the terms and subject to the conditions set forth in
this Agreement and in the Plan. Except as otherwise provided herein, or unless the context clearly
indicates otherwise, capitalized terms not otherwise defined herein shall have the same definitions
as provided in the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW, THEREFORE, in consideration of the premises and the benefits to be derived from the
mutual observance of the covenants and promises contained herein and other good and valuable
consideration, the sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;<U><B>Basis for Award</B></U>. This Award is made pursuant to the Plan for valid consideration
provided to the Company by Grantee. By your execution of the Certificate, you agree to accept the
Restricted Stock Award rights granted pursuant to the Certificate and this Agreement and to receive
the shares of Restricted Stock of the Company designated in the Certificate subject to the terms of
the Plan, the Certificate and this Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;<U><B>Restricted Stock Award</B></U>. The Company hereby awards and grants to Grantee, for valid
consideration with a value in excess of the aggregate par value of the Common Stock awarded to
Grantee, the number of shares of Common Stock of the Company set forth in the Certificate, which
shall be subject to the restrictions and conditions set forth in the Plan, the Certificate and this
Agreement (the &#147;<B><I>Restricted Stock</I></B>&#148;). One or more stock certificates representing the number of
Shares specified in the Certificate shall hereby be registered in Grantee&#146;s name (the &#147;<B><I>Stock
Certificate</I></B>&#148;), but shall be deposited and held in the custody of the Company for Grantee&#146;s account
as provided in Section&nbsp;8 hereof until such Restricted Stock becomes vested.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;<U><B>Vesting and Termination of Continuous Service</B></U>. The Restricted Stock shall vest and
restrictions on transfer shall lapse subject to the Vesting Schedule set forth in the Certificate.
Upon the occurrence of a Change in Control, the Restricted Stock shall become 100% vested on such
event and the restrictions on transfer shall lapse. The shares of Restricted Stock which have not
vested in accordance with the Certificate (the &#147;<B><I>Unvested Shares</I></B>&#148;) shall become vested and the
restrictions on transfer shall lapse upon the earliest to occur of Grantee&#146;s death, Disability,
attainment of Retirement Age while still in Continuous Service, or termination of Continuous
Service by the Company or its Affiliates without Cause. If Grantee ceases
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->1<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Continuous Service for any other reason (including termination by the Company or its
Affiliates for Cause), the Unvested Shares shall be forfeited immediately and cancelled as
outstanding shares of Common Stock. Prior to vesting, all Unvested Shares shall be subject to the
restrictions set forth in this Agreement. For purposes of this Agreement, Retirement Age shall
mean age 65 or any other age determined by the Committee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;<U><B>Compliance with Laws and Regulations</B></U>. The issuance, transfer, vesting, and
ownership of Common Stock shall be subject to compliance by the Company and Grantee with all
applicable requirements of federal and state securities laws and with all applicable requirements
of any stock exchange on which the Company&#146;s Common Stock may be listed at the time of such
issuance or transfer. Grantee agrees to cooperate with the Company to ensure compliance with such
laws and requirements. Prior to issuance or transfer of Common Stock, the Company may require
Grantee to execute and deliver a letter of investment intent in such form and containing such
provisions as requested by the Administrator.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.&nbsp;<U><B>Tax Withholding</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Grantee agrees that, no later than the first to occur of (i)&nbsp;the date as of which the
restrictions on the Restricted Stock shall lapse with respect to all or any of the Restricted Stock
covered by this Agreement or (ii)&nbsp;the date required by Section 5(b) below, Grantee shall pay to the
Company (in cash) any federal, state, or local taxes of any kind required to be withheld, if any,
with respect to the Restricted Stock for which the restrictions shall lapse. The Company shall, to
the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to
Grantee any federal, state or local taxes of any kind required by law to be withheld with respect
to the shares of such Common Stock.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;Grantee may elect, within thirty (30)&nbsp;days of the Grant Date, to include in gross income
for federal income tax purposes an amount equal to the Fair Market Value of the Restricted Stock
less the amount, if any, paid by Grantee (other than by prior services) for the Restricted Stock
granted hereunder pursuant to Section 83(b) of the Internal Revenue Code of 1986, as amended. In
connection with any such Section 83(b) election, Grantee shall pay to the Company, or make such
other arrangements satisfactory to the Administrator to pay to the Company based on the Fair Market
Value of the Restricted Stock on the Grant Date, any federal, state or local taxes required by law
to be withheld with respect to such Shares at the time of such election. If Grantee fails to make
such payments, the Company shall, to the extent permitted by law, have the right to deduct from any
payment of any kind otherwise due to Grantee any federal, state or local taxes required by law to
be withheld with respect to such Shares.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.&nbsp;<U><B>No Right to Continued Service</B></U>. Nothing in this Agreement shall be deemed by
implication or otherwise to impose any limitation on any right of the Company to terminate
Grantee&#146;s service at any time and for any reason.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.&nbsp;<U><B>Representations and Warranties of Grantee</B></U>. Grantee represents and warrants to the
Company that:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Agrees to Terms of the Plan and the Agreement</U>. Grantee has received a copy of the
Plan, the Certificate, and this Agreement and has read and understands the terms
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">thereof. Grantee acknowledges that there may be adverse tax consequences upon the vesting of
Restricted Stock or disposition of the shares of Common Stock once vested, and that Grantee should
consult a tax advisor prior to such time.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Stock Ownership</U>. Grantee is the record and beneficial owner of the shares of
Restricted Stock with full right and power to vote and receive dividends on such shares;
<U>provided</U>, <U>that</U>, Grantee understands that the stock certificates evidencing the
Restricted Stock will bear a legend referencing this Agreement. Any dividends which are paid in
cash shall be distributed to Grantee as soon as practicable. If any dividends are paid in Common
Stock during an applicable period of restriction, Grantee shall receive such shares subject to the
same restrictions as the Restricted Stock with respect to which they were issued.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.&nbsp;<U><B>Restrictions on Unvested Shares</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Deposit of the Unvested Shares</U>. Grantee shall deposit all of the Unvested Shares
with the Company to hold until the Unvested Shares become vested, at which time such vested shares
shall no longer constitute Unvested Shares. Grantee shall execute and deliver to the Company,
concurrently with the execution of this Agreement blank stock powers for use in connection with the
transfer to the Company or its designee of Unvested Shares that do not become vested. The Company
will deliver to Grantee the Stock Certificate for the shares of Common Stock that become vested
upon vesting of such shares.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Restriction on Transfer of Unvested Shares</U>. Grantee shall not sell, transfer,
assign, grant a lien or security interest in, pledge, hypothecate as collateral for a loan or as
security for the performance of any obligation or for any other purpose, encumber or otherwise
dispose of any of the Unvested Shares, except as permitted by this Agreement.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.&nbsp;<U><B>Adjustments</B></U>. This Award is subject to the adjustment provisions set forth in the
Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.&nbsp;<U><B>Restrictive Legends and Stop-Transfer Orders</B></U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Legends</U>. Grantee understands and agrees that the Company will place the legends
set forth below or similar legends on any stock certificate(s) evidencing the Common Stock,
together with any other legends that may be required by state or U.S. Federal securities laws, the
Company&#146;s Certificate of Incorporation or Bylaws, any other agreement between Grantee and the
Company or any agreement between Grantee and any third party:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON PUBLIC RESALE AND
TRANSFER, AS SET FORTH IN A RESTRICTED STOCK AWARD AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL
HOLDER OF THESE SHARES. SUCH PUBLIC SALE AND TRANSFER RESTRICTIONS ARE BINDING ON TRANSFEREES OF
THESE SHARES.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Stop-Transfer Instructions</U>. Grantee agrees that, to ensure compliance with the
restrictions imposed by this Agreement, the Company may issue appropriate &#147;stop-transfer&#148;
instructions to its transfer agent, if any, and if the Company transfers its own securities, it may
make appropriate notations to the same effect in its own records.
</DIV>


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</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <U>Refusal to Transfer</U>. The Company will not be required (i)&nbsp;to transfer on its books
any shares of Common Stock that have been sold or otherwise transferred in violation of any of the
provisions of this Agreement or (ii)&nbsp;to treat as owner of such shares, or to accord the right to
vote or pay dividends to any purchaser or other transferee to whom such shares have been so
transferred.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.&nbsp;<U><B>Restrictive Covenants</B></U><B>.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <U>Confidentiality</U>. In consideration of the Award, Grantee agrees to keep
confidential all information of a proprietary or confidential nature belonging to the Company or
any of its Affiliates, including but not limited to, business plans, files, records, data,
documents, plans, research, development, policies, customer or client lists, price lists, the name
and address of suppliers, customers or representatives, or any other matters of any kind or
description, relating to the products, devices, suppliers, customers, clientele, sales or business
of the Company or any of its Affiliates (i)&nbsp;&nbsp;obtained by Grantee during Continuous Service and
(ii)&nbsp;&nbsp;not otherwise public knowledge (other than by reason of an unauthorized act by Grantee).
After termination of Continuous Service, Grantee shall not, without the prior written consent of
the Company, unless compelled pursuant to an order of a court or other body having jurisdiction
over such matter, communicate or divulge any such information, knowledge or data to anyone other
than the Company and those designated by it.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <U>Non-solicitation and Non-competition</U>. In consideration of the Award, Grantee
agrees not to (i)&nbsp;directly or indirectly, solicit or recruit any individual employed by the Company
or its Affiliates for the purpose of being employed directly or indirectly by Grantee or by any
competitor of the Company on whose behalf Grantee is acting as an agent, representative or
employee, or convey any confidential information or trade secrets regarding other employees of the
Company or its Affiliates to any other person during Continuous Service and for a period of
eighteen (18)&nbsp;months thereafter; or (ii)&nbsp;directly or indirectly, influence or attempt to influence
customers of the Company or any of its Affiliates to direct their business to any competitor of the
Company during Continuous Service and for a period of eighteen (18)&nbsp;months thereafter; or (iii)
compete with the Company in the recreational vehicle business or the bus business while Grantee is
in Continuous Service and for a period of eighteen (18)&nbsp;months thereafter.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.&nbsp;<U><B>Modification</B></U>. Except as specifically provided in the Plan, the Agreement may not
be modified except in writing signed by both parties.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13.&nbsp;<U><B>Interpretation</B></U>. Any dispute regarding the interpretation of this Agreement shall
be submitted by Grantee or the Company to the Administrator for review. The resolution of such a
dispute by the Administrator shall be final and binding on the Company and Grantee.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14.&nbsp;<U><B>Entire Agreement</B></U>. The terms and provisions of the Plan are incorporated herein by
reference. In the event of a conflict or inconsistency between the terms and provisions of the
Plan, the Certificate, and this Agreement, the Plan shall govern and control. This Agreement, the
Certificate and the Plan constitute the entire agreement of the parties and supersede all prior
undertakings and agreements with respect to the subject matter hereof.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15.&nbsp;<U><B>Notices</B></U>. Any notice required to be given or delivered to the Company under the
terms of this Agreement shall be in writing and addressed to the Corporate Secretary of the Company
at its principal corporate offices. Any notice required to be given or delivered to Grantee shall
be in writing and addressed to Grantee at the address indicated on the signature page hereof or to
such other address as such party may designate in writing from time to time to the Company. All
notices shall be deemed to have been given or delivered upon: (a)&nbsp;personal delivery; (b)&nbsp;five (5)
days after deposit in the United States mail by certified or registered mail (return receipt
requested); (c)&nbsp;two (2)&nbsp;business days after deposit with any return receipt express courier
(prepaid); or (d)&nbsp;one (1)&nbsp;business day after transmission by facsimile.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.&nbsp;<U><B>Successors and Assigns</B></U>. The Company may assign any of its rights under this
Agreement. This Agreement shall be binding upon and inure to the benefit of the successors and
assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement
shall be binding upon Grantee and Grantee&#146;s heirs, executors, administrators, legal
representatives, successors and assigns.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17.&nbsp;<U><B>Governing Law</B></U>. This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware without giving effect to its conflict of law principles. If
any provision of this Agreement is determined by a court of law to be illegal or unenforceable,
then such provision will be enforced to the maximum extent possible and the other provisions will
remain fully effective and enforceable.
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT A</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>THOR INDUSTRIES, INC. 2006 EQUITY INCENTIVE PLAN</B>

</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT B</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>STOCK POWER</B>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">(To be left blank except for signature)

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For value received, the undersigned does hereby sell, assign and transfer unto Thor Industries,
Inc. &#95;&#95;&#95; shares of Common Stock of Thor Industries, Inc. represented by
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">certificate number
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (#)
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">standing in the name of the undersigned.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="39%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">The undersigned does hereby irrevocably constitute and appoint
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">attorney to transfer the foregoing on the books of the within named company, with full power of
substitution in the premises.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This stock power may only be used in accordance with the Restricted Stock Agreement by and between
Thor Industries, Inc. and the undersigned dated as of &#091;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&#093;, and any amendments
thereto.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Dated:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Signature:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Signature must correspond EXACTLY to the name shown in the certificate.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>EXHIBIT C</B></U>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Section&nbsp;83(b) Election Form</B>

</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Attached is an Internal Revenue Code Section 83(b) Election Form. <B>IF YOU WISH TO MAKE A SECTION
83(B) ELECTION, YOU MUST DO SO WITHIN 30 DAYS AFTER THE GRANT DATE</B>. In order to make the election,
you must completely fill out the attached form and file one copy with the Internal Revenue Service
office where you file your tax return. In addition, one copy of the statement also must be
submitted with your income tax return for the taxable year in which you make this election.
Finally, you also must submit a copy of the election form to the Company within ten (10)&nbsp;days after
filing that election with the Internal Revenue Service. A Section 83(b) election normally cannot
be revoked.<U> </U>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THOR INDUSTRIES, INC. 2006 EQUITY INCENTIVE PLAN</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 49%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>Election to Include Value of Restricted Stock in Gross Income<br>
in Year of Transfer Under Internal Revenue Code Section&nbsp;83(b)</B></DIV>


<DIV align="center" style="font-size: 10pt"><DIV align="center"><DIV style="font-size: 3pt; margin-top: 16pt; width: 49%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Section 83(b) of the Internal Revenue Code, I hereby elect within 30&nbsp;days after
receiving the property described herein to be taxed immediately on its value specified in item 5
below.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>My General Information:</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name:
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 6pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Address:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 6px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">S.S.N.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">or T.I.N.:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Description of the property with respect to which I am making this election:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>shares of Restricted Stock of Thor Industries, Inc.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The shares of Restricted Stock were transferred to me on <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> &#95;&#95;&#95;, 20&#95;&#95;&#95;. This
election relates to the 20&#95;&#95;&#95;calendar taxable year.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The shares of Restricted Stock are subject to the following restrictions:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">The shares of Restricted Stock are forfeitable until they are vested in accordance
with Section&nbsp;7.1 of the Thor Industries, Inc. 2006 Equity Incentive Plan (the
&#147;<B><I>Plan</I></B>&#148;) and the Restricted Stock Award Agreement (the &#147;<B><I>Award Agreement</I></B>&#148;) entered
into between me and Thor Industries, Inc. on &#95;&#95;&#95;, 20&#95;&#95;&#95;. The shares of
Restricted Stock are not transferable until my interest becomes vested and
nonforfeitable, pursuant to the Award Agreement and the Plan.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fair market value:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">The fair market value at the time of transfer (determined without regard to any
restrictions other than restrictions which by their terms will never lapse) of the
shares of Restricted Stock with respect to which I am making this election is $&#95;&#95;&#95;
per share.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">6.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amount paid for Restricted Stock:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">The
amount I paid for the Restricted Stock is $ &#95;&#95;per share.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">7.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Furnishing statement to employer:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">A copy of this statement has been furnished to my employer, Thor Industries, Inc.
If the transferor of the Restricted Stock is not my employer, that entity also has
been furnished with a copy of this statement.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">8.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Award Agreement or Plan not affected:</TD>
</TR>

</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 7%">Nothing contained herein shall be held to change any of the terms or conditions of
the Award Agreement or the Plan.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dated: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> __, 200_.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>7
<FILENAME>l31479aexv99w1.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;99.1
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="l31479al3147900.gif" alt="(THOR LOGO)">
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">419 WEST PIKE STREET <B>&#149;</B> P.O. BOX 629 <B>&#149;</B> JACKSON CENTER, OHIO 45334-0629<BR>
PHONE 937-596-6849 <B>&#149;</B> FAX 937-596-6539

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>NEWS RELEASE</B></U>

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="85%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Date:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">May&nbsp;2, 2008</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Contact:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Wade F. B. Thompson or Peter B. Orthwein</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>THOR ANNOUNCES PRELIMINARY SALES FOR QUARTER, 9 MONTHS; BACKLOG</B></U><B>.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thor Industries (NYSE:THO) announced today preliminary sales for the quarter and 9&nbsp;months ended
April&nbsp;30, 2008.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sales in the quarter were $707&nbsp;million, down 10% from $790&nbsp;million last year. RV sales were $600
million, down 12% from $684&nbsp;million last year. Bus sales were a record $107&nbsp;million, up 1% from
$106&nbsp;million last year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Sales in the 9&nbsp;months were $2.07&nbsp;billion, down 1% from $2.1&nbsp;billion last year. RV sales were $1.77
billion, down 2% from $1.81&nbsp;billion last year. Bus sales were a record $300&nbsp;million, up 3% from
$291&nbsp;million last year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Backlog on April&nbsp;30, 2008 was $526&nbsp;million, down 11% from $593&nbsp;million last year. RV backlog was
$276&nbsp;million, down 27% from $378&nbsp;million last year. Towables backlog was $198&nbsp;million, down from
$267&nbsp;million last year. Motor home backlog was $78&nbsp;million, down from $111&nbsp;million last year. Bus
backlog was $250&nbsp;million, up 16% from $215&nbsp;million last year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thor is the world&#146;s largest manufacturer of recreation vehicles and a major builder of commercial
buses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release includes certain statements that are &#147;forward looking&#148; statements within the meaning
of Section&nbsp;27A of the Securities Act of 1933, as amended, and Section&nbsp;21E of the Securities
Exchange Act of 1934 as amended. These forward looking statements involve uncertainties and risks.
There can be no assurance that actual results will not differ from&nbsp;our&nbsp;expectations. Factors
which could cause materially different results include, among others, additional issues that may
arise in connection with the findings of the completed investigation&nbsp;of the Audit Committee of the
Board of Directors of Thor Industries, Inc.&nbsp;(the &#147;Company&#148;) and the SEC&#146;s requests for additional
information, fuel prices, fuel availability, interest rate increases, increased material costs, the
success of new product introductions, the pace of acquisitions, cost structure improvements, the
impact of the recent auction market failures on our liquidity, competition and general economic
conditions and the other risks and uncertainties discussed more fully in Item&nbsp;1A of&nbsp;the Company&#146;s
Annual Report on Form 10-K for the year ended July&nbsp;31, 2007 and Part&nbsp;II, Item&nbsp;1A of the Company&#146;s
Quarterly Report on Form 10-Q for the quarter ended January&nbsp;31, 2008.&nbsp;&nbsp;The Company disclaims any
obligation or undertaking to disseminate any updates or revisions to any change in expectation of
the Company after the date hereof or any change in events, conditions or circumstances on which any
statement is based except as required by law.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>8
<FILENAME>l31479aexv99w2.htm
<DESCRIPTION>EX-99.2
<TEXT>
<HTML>
<HEAD>
<TITLE>EX-99.2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>EXHIBIT&nbsp;99.2</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="l31479al3147901.gif" alt="(THOR LOGO)">
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><FONT style="font-variant: SMALL-CAPS">419 WEST PIKE STREET <B>&#149;</B> P.O. BOX 629 <B>&#149;</B> JACKSON CENTER, OHIO 45334-0629</FONT><BR>
<FONT style="font-variant: SMALL-CAPS">PHONE 937-596-6849 <B>&#149;</B> FAX 937-596-6539</FONT>

</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>N E W S&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;R E L E A S E</B></U>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; May&nbsp;5, 2008<BR>
Contact: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wade F. B. Thompson or Peter B. Orthwein

</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>THOR APPOINTS NEW CHIEF FINANCIAL OFFICER</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thor Industries, Inc. (NYSE:THO) announced today that it has hired Christian G. Farman as its
Senior Vice President and Chief Financial Officer. Mr.&nbsp;Farman has broad, successful experience as
a chief financial officer of public and private companies. He is a CPA and holds a BBA in
accounting from the University of Massachusetts at Amherst.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">After spending 10&nbsp;years at PricewaterhouseCoopers LLP, where he was a senior audit manager, Mr.
Farman joined Vivendi North America, a $5&nbsp;billion revenue water treatment and environmental
services company, where he rose to become its Executive Vice President and Chief Financial Officer.
He has also served as Chief Financial Officer of Insituform Technologies, Inc., a NASDAQ listed
infrastructure company and of Deutsch, a leading manufacturer of electrical connectors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Walter L. Bennett, Thor&#146;s current Executive Vice President and Chief Financial Officer, becomes
Executive Vice President and Chief Administrative Officer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Thor is the world&#146;s largest manufacturer of recreation vehicles and a major builder of commercial
buses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">This release includes certain statements that are &#147;forward looking&#148; statements within the meaning
of Section&nbsp;27A of the Securities Act of 1933, as amended, and Section&nbsp;21E of the Securities
Exchange Act of 1934 as amended. These forward looking statements involve uncertainties and risks.
There can be no assurance that actual results will not differ from&nbsp;our&nbsp;expectations. Factors
which could cause materially different results include, among others, additional issues that may
arise in connection with the findings of the completed investigation&nbsp;of the Audit Committee of the
Board of Directors of Thor Industries, Inc.&nbsp;(the &#147;Company&#148;) and the SEC&#146;s requests for additional
information, fuel prices, fuel availability, interest rate increases, increased material costs, the
success of new product introductions, the pace of acquisitions, cost structure improvements, the
impact of the recent auction market failures on our liquidity, competition and general economic
conditions and the other risks and uncertainties discussed more fully in Item&nbsp;1A of&nbsp;the Company&#146;s
Annual Report on Form 10-K for the year ended July&nbsp;31, 2007 and Part&nbsp;II, Item&nbsp;1A of the Company&#146;s
Quarterly Report on Form 10-Q for the quarter ended January&nbsp;31, 2008.&nbsp;&nbsp;The Company disclaims any
obligation or undertaking to disseminate any updates or revisions to any change in expectation of
the Company after the date hereof or any change in events, conditions or circumstances on which any
statement is based except as required by law.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
