<SEC-DOCUMENT>0001144204-17-015627.txt : 20170320
<SEC-HEADER>0001144204-17-015627.hdr.sgml : 20170320
<ACCEPTANCE-DATETIME>20170320161542
ACCESSION NUMBER:		0001144204-17-015627
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170316
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170320
DATE AS OF CHANGE:		20170320

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:		17701584

	BUSINESS ADDRESS:	
		STREET 1:		601 E. BEARDSLEY AVENUE
		CITY:			ELKHART
		STATE:			IN
		ZIP:			46514
		BUSINESS PHONE:		(574) 970-7460

	MAIL ADDRESS:	
		STREET 1:		601 E. BEARDSLEY AVENUE
		CITY:			ELKHART
		STATE:			IN
		ZIP:			46514
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v462207_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1.5pt; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8&ndash;K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15 (d) of the
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of Earliest Event Reported):
March 16, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_002.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Thor Industries, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Delaware</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or Other Jurisdiction of Incorporation)</P></TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>1-9235</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Commission File Number)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P></TD>
    <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>93-0768752</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>601 East Beardsley Avenue, </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Elkhart, Indiana </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of Principal Executive Offices)</P></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>46514-3305</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Zip Code)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(574) 970-7460</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>N/A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1.5pt; border-top: Black 1.5pt solid; border-bottom: Black 1.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 8.01</B></TD><TD><B>Other Events</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As previously reported, in December 2016
the shareholders of Thor Industries, Inc. (the &ldquo;Company&rdquo;) approved the Company&rsquo;s 2016 Equity and Incentive Plan
(the &ldquo;Plan&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Compensation and Development Committee
of the Company&rsquo;s Board of Directors has approved forms of restricted stock unit award agreements under the Plan for employees
and non-employee directors of the Company, copies of which are filed as exhibits to this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify"><I>Exhibits</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 1.25in; font-size: 10pt; text-align: justify">Exhibit Number</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Description</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">99.1</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Restricted Stock Unit Award Agreement (Employees)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">99.2</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">Restricted Stock Unit Award Agreement (Directors)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-indent: -1.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 243pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><B>Thor Industries, Inc.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 43%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">Date: March 20, 2017</TD>
    <TD STYLE="text-align: justify">By: </TD>
    <TD STYLE="text-align: justify; border-bottom: Black 1pt solid">/s/ W. Todd Woelfer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Name:&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: justify">W. Todd Woelfer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: left">Title:&nbsp;&nbsp;</TD>
    <TD STYLE="text-align: left">Senior Vice President, General Counsel and Secretary</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 3.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 3; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v462207_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Annex I</I></B></P>



<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Thor Industries,
Inc.<BR>
2016 Equity and Incentive Plan</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Restricted
Stock UNIT Award Agreement</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Restricted Stock
Unit Award Agreement (this &ldquo;<B><I>Agreement</I></B>&rdquo;) is entered into on the execution date of the Restricted Stock
Unit Award Certificate to which it is attached (the <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Certificate</I></B><FONT STYLE="font-weight: normal">&rdquo;</FONT></FONT>),
between Thor Industries, Inc., a Delaware corporation (the <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Company</I></B><FONT STYLE="font-weight: normal">&rdquo;</FONT></FONT>),
and the <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">Participant </FONT>named in the Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Thor
Industries, Inc. 2016 Equity and Incentive Plan (the <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal">&ldquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Plan</I></B><FONT STYLE="font-weight: normal">&rdquo;</FONT></FONT>),
the Administrator has authorized the grant to Participant of the right to receive restricted stock units that entitle the Participant
to receive shares of the Company&rsquo;s Common Stock (the &ldquo;<B><I>Award</I></B>&rdquo; or &ldquo;<B><I>Restricted Award</I></B>&rdquo;),
upon the terms and subject to the conditions set forth in the Plan, the Certificate, and in this Agreement. Capitalized terms not
otherwise defined herein have the meanings ascribed to them in the Certificate or the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW</B>, <B>THEREFORE</B>,
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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Restricted Stock Unit Award</B>. The Company hereby awards and grants to Participant the number of restricted stock units
set forth in the Certificate, which are subject to the restrictions and conditions set forth in the Plan, the Certificate, and
this Agreement (the &ldquo;<B><I>Restricted Stock Units</I></B><I>&rdquo;)</I>. By Participant&rsquo;s execution of the Certificate,
Participant agrees to accept the Award rights granted pursuant to the Certificate and this Agreement, and to receive the Restricted
Stock Units designated in the Certificate subject to the terms of the Plan, the Certificate, and this Agreement. Each Restricted
Stock Unit shall entitle the Participant to receive one share of the Company&rsquo;s Common Stock subject to the fulfillment of
the vesting conditions set forth in Section 2 hereof (the &ldquo;<B><I>Shares</I></B>&rdquo;). Participant acknowledges and agrees
that the Restricted Stock Units are bookkeeping entries only and no shares of Common Stock shall be issued, either as book entry
with the Company&rsquo;s transfer agent or as physical certificates, unless and until the Restricted Stock Units have vested and
are no longer subject to forfeiture. The Company shall, in accordance with the Plan, establish and maintain an account (the &ldquo;<B><I>Restricted
Stock Unit Account</I></B>&rdquo;) for Participant, and shall credit such account for the number of Restricted Stock Units granted
to Participant. On any given date, the value of each Restricted Stock Unit credited to the Restricted Stock Unit Account will equal
the Fair Market Value on such date of one share of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 9pt; vertical-align: baseline"><B>Thor
                                         Industries, Inc. 2016 Equity and Incentive Plan<BR>
                                         Restricted Stock Unit Award Agreement &ndash; Page 1</B></FONT></P><P STYLE="margin: 0pt"></P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Vesting</B>. Except as otherwise provided in the Plan or an employment agreement or service agreement, the terms of which
have been approved by the Administrator, the Restricted Stock Units will vest pursuant to the Vesting Schedule set forth in the
Certificate. Restricted Stock Units that have vested and are no longer subject to forfeiture according to the Vesting Schedule
are referred to herein as &ldquo;<B><I>Vested Units</I></B>.&rdquo; Restricted Stock Units that have not vested and remain subject
to forfeiture under the Vesting Schedule are referred to herein as &ldquo;<B><I>Unvested Units</I></B>.&rdquo; The Unvested Units
will vest and become payable in accordance with the Vesting Schedule. Subject to Participant&rsquo;s satisfaction of the applicable
withholding requirements pursuant to Section 5 hereof, the Company will settle the Award on the Payment Date or Dates set forth
in the Certificate by issuing to Participant one share of Common Stock for each Restricted Stock Unit payable on that Payment Date
(and upon such settlement, the corresponding Vested Units will cease to be outstanding). If the Certificate does not specify a
Payment Date, the applicable Payment Date will be each vesting date set forth in the Vesting Schedule. The Administrator will cause
a stock certificate to be delivered on the applicable Payment Date to Participant with respect to the shares of Common Stock issued
on that Payment Date free of all restrictions hereunder, except for applicable federal securities laws restrictions, and shall
enter Participant&rsquo;s name as stockholder of record with respect to such shares of Common Stock on the books of the Company.
Settlement of the Award will occur on the Payment Date, but not later than the end of the calendar year within which the Payment
Date occurs. Any securities, other property or amounts nominally credited to the Restricted Stock Unit Account other than Restricted
Stock Units will be paid in kind or, in the Administrator&rsquo;s discretion, in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Forfeiture of Unvested Units</I>. Except as otherwise provided in this Section, in Section 6, or in an employment agreement
or service agreement, the terms of which have been approved by the Administrator, if Participant ceases Continuous Service for
any reason Participant will immediately forfeit the Unvested Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Restriction on Transfer of Restricted Stock Units</I>. Except as provided in Section 6, until the applicable Payment
Date, the Restricted Stock Units and any related securities, other property or amounts nominally credited to the Restricted Stock
Unit Account may not be sold, transferred, or otherwise disposed of, and may not be pledged or otherwise hypothecated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Right to Shares</B>. Participant shall not have any right in, to or with respect to any of the Shares (including any
voting rights or rights with respect to dividends paid on the Common Stock) issuable under the Award until the Award is settled
by the issuance of such Shares to the Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Compliance with Laws and Regulations</B>. The issuance and transfer of Common Stock under this Award is subject to the
Company&rsquo;s and Participant&rsquo;s full compliance, to the satisfaction of the Company and its counsel, with all applicable
requirements of federal, state, and foreign securities laws and with all applicable requirements of any securities exchange on
which the 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 of Common Stock with the Securities Exchange Commission, any state securities commission,
foreign securities regulatory authority, or any securities exchange to effect such compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Tax Withholding</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>As a condition to the issuance of shares of Common Stock pursuant to this Award, no later than&nbsp;the date as of which
all or any of the Restricted Stock Units vest, Participant shall pay to the Company any federal, state, or local taxes required
by law to be withheld with respect to the Common Stock that is issued. Participant shall pay such amount to the Company in cash
or, to the extent permitted by the Administrator, by directing the Company to withhold Common Stock to be issued by the Company
as a result of the vesting of the Restricted Stock Units with a Fair Market Value on the date the Restricted Stock Units vest equal
to the amount of Participant&rsquo;s minimum statutory tax withholding liability, or a combination thereof. The Company may require
Participant to satisfy Participant&rsquo;s minimum statutory tax withholding liability by instructing and authorizing the Company
and a brokerage firm determined acceptable by the Company for such purpose to sell on Participant&rsquo;s behalf Common Stock from
the Common Stock issuable to Participant as settlement of Vested Units as the Company determines to be appropriate to generate
cash proceeds sufficient to satisfy the minimum statutory tax withholding liability. Notwithstanding the foregoing, the Company
will, to the extent permitted by law, have the right to deduct from any payment of any kind otherwise due to Participant, including
any salary, bonus or performance-based award (including any award under the Company&rsquo;s Management Incentive Plan) any federal,
state, or local taxes required by law to be withheld with respect to such shares of Common Stock. Payment of the tax withholding
by a Participant who is an &ldquo;insider&rdquo; within the meaning of Section 16 of the Exchange Act by directing the Company
to withhold Common Stock to be issued by the Company as a result of the vesting of the Restricted Stock Units is subject to pre-approval
by the Administrator, in its sole discretion, which in the case of a Participant who is an Officer or Director will be in a manner
that complies with the specificity requirements of Rule 16b-3, including the name of the Participant involved in the transaction,
the nature of the transaction, the number of shares to be acquired or disposed of by the Participant and the material terms of
the Award involved in the transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Beneficiary. </B>Notwithstanding anything to the contrary contained herein, the 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 the death of the Participant,
shall thereafter be entitled to receive from the Company one share of Common Stock for each outstanding Restricted Stock Unit on
the Payment Date set forth in the Certificate. The third party&rsquo;s rights outlined in the previous sentence shall be subject
to all applicable withholding requirements established by the Company. If the Certificate does not specify a Payment Date, the
applicable Payment Date will be each vesting date set forth in the Vesting Schedule. The Participant&rsquo;s ability to designate
its beneficiary under this Section, and have that beneficiary receive the applicable Common Stock upon the Participant&rsquo;s
death, shall be exempt from the Forfeiture and Transfer provisions of Section 2(a) and 2(b), respectively, of this Agreement. For
the avoidance of doubt, if the Participant ceases Continuous Service prior to his death, Section 2(a) shall apply and the Participant
will immediately forfeit the Unvested Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>No Right to Continued Service</B>. Nothing in this Agreement or in the Plan imposes or may be deemed to impose, by implication
or otherwise, any limitation on any right of the Company or any Affiliate to terminate Participant&rsquo;s Continuous Service at
any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Change in Control</B>. In the event that a Change in Control is consummated, all Unvested Units shall be subject to the
Change in Control provisions set forth in Section 12 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Representations and Warranties of Participant</B>. Participant represents and warrants to the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Agrees to Terms of the Plan</I>. Participant has received a copy of the Plan and has read and understands the terms of
the Plan, the Certificate, and this Agreement, and agrees to be bound by their terms and conditions. Participant acknowledges that
there may be adverse tax consequences upon the vesting of Restricted Stock Units or disposition of the shares of Common Stock received
pursuant to settlement of this Award, and that Participant should consult a tax advisor before such time. Participant agrees to
sign such additional documentation as the Company may reasonably require from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Rule 144</I>. Participant understands that, to the extent Participant wishes to avail himself of Rule 144 promulgated
under the Securities Act in connection with any transfer of Common Stock received pursuant to settlement of this Award, Rule 144
may indefinitely impose transfer restrictions on such transfer if Participant is an &ldquo;affiliate&rdquo; of the Company (as
defined in Rule 144), or for up to one year if Participant is not an &ldquo;affiliate&rdquo; of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Compliance with Securities Laws</B>. Participant understands and acknowledges that, notwithstanding any other provision
of this Agreement to the contrary, the issuance, holding and transfer of the Common Stock received pursuant to settlement of this
Award 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&rsquo;s Common Stock may be listed from time
to time. Participant understands that the Company is under no obligation to register or qualify the Shares with the Securities
and Exchange Commission, any state securities commission or any stock exchange to effect such compliance. Participant agrees to
cooperate with the Company to ensure compliance with such laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Adjustments</B>. The Restricted Stock Units are subject to the adjustment provisions set forth in Section 11 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Modification</B>. The Agreement may be modified only in writing signed by both parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Interpretation</B>. Any dispute regarding the interpretation of this Agreement must be submitted by Participant or the
Company to the Administrator for review. The resolution of such a dispute by the Administrator will be final and binding on the
Company and Participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Entire Agreement</B>. The Plan and the Certificate are incorporated herein by reference, and Participant hereby acknowledges
receiving a copy of the Plan. 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. In the event of a conflict or inconsistency between
the terms and conditions of this Agreement, the Certificate, and the Plan, the Plan will govern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Notices</B>. Any notice required under this Agreement to be given or delivered to the Company must 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 must be in writing and addressed to Participant at the address indicated on the Certificate or to such other address
as Participant designates in writing to the Company. All notices will be deemed to have been given or delivered (a)&nbsp;upon personal
delivery, (b)&nbsp;five days after deposit in the United States mail by certified or registered mail (return receipt requested),
(c)&nbsp;two business days after deposit with any return receipt express courier (prepaid), or (d)&nbsp;one business day after
transmission by facsimile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Successors and Assigns</B>. The Company may assign any of its rights under this Agreement. This Agreement will 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 is binding upon Participant and Participant&rsquo;s heirs, executors, administrators, legal representatives, successors
and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Governing Law</B>. This Agreement will 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>v462207_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.2</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B><I>Annex I</I></B></P>



<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Thor Industries,
Inc.<BR>
2016 Equity and Incentive Plan</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">Restricted
Stock UNIT Award Agreement</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Restricted Stock
Unit Award Agreement (this &ldquo;<B><I>Agreement</I></B>&rdquo;) is entered into on the execution date of the Restricted Stock
Unit Award Certificate to which it is attached (the <FONT STYLE="font-weight: normal">&ldquo;</FONT><B><I>Certificate</I></B><FONT STYLE="font-weight: normal">&rdquo;</FONT>),
between Thor Industries, Inc., a Delaware corporation (the <FONT STYLE="font-weight: normal">&ldquo;</FONT><B><I>Company</I></B><FONT STYLE="font-weight: normal">&rdquo;</FONT>),
and the Director named in the Certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Thor
Industries, Inc. 2016 Equity and Incentive Plan (the <FONT STYLE="font-weight: normal">&ldquo;</FONT><B><I>Plan</I></B><FONT STYLE="font-weight: normal">&rdquo;</FONT>),
the Administrator has authorized the grant to Director of the right to receive restricted stock units that entitle the Director
to receive shares of the Company&rsquo;s Common Stock (the &ldquo;<B><I>Award</I></B>&rdquo; or &ldquo;<B><I>Restricted Award</I></B>&rdquo;),
upon the terms and subject to the conditions set forth in the Plan, the Certificate, and in this Agreement. Capitalized terms not
otherwise defined herein have the meanings ascribed to them in the Certificate or the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW</B>, <B>THEREFORE</B>,
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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Restricted Stock Unit Award</B>. The Company hereby awards and grants to Director the number of restricted stock units
set forth in the Certificate, which are subject to the restrictions and conditions set forth in the Plan, the Certificate, and
this Agreement (the &ldquo;<B><I>Restricted Stock Units</I></B><I>&rdquo;)</I>. By Director&rsquo;s execution of the Certificate,
Director agrees to accept the Award rights granted pursuant to the Certificate and this Agreement, and to receive the Restricted
Stock Units designated in the Certificate subject to the terms of the Plan, the Certificate and this Agreement. Each Restricted
Stock Unit shall entitle the Director to receive one share of the Company&rsquo;s Common Stock subject to the fulfillment of the
vesting conditions set forth in Section 2 hereof (the &ldquo;<B><I>Shares</I></B>&rdquo;). Director acknowledges and agrees that
the Restricted Stock Units are bookkeeping entries only and no shares of Common Stock shall be issued, either as book entry with
the Company&rsquo;s transfer agent or as physical certificates, unless and until the Restricted Stock Units have vested and are
no longer subject to forfeiture. The Company shall in accordance with the Plan, establish and maintain an account (the &ldquo;<B><I>Restricted
Stock Unit Account</I></B>&rdquo;) for Director, and shall credit such account for the number of Restricted Stock Units granted
to Director. On any given date, the value of each Restricted Stock Unit credited to the Restricted Stock Unit Account will equal
the Fair Market Value on such date of one share of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Vesting</B>. Except as otherwise provided in the Plan or an employment agreement or service agreement, the terms of which
have been approved by the Administrator, the Restricted Stock Units will vest pursuant to the Vesting Schedule set forth in the
Certificate. Restricted Stock Units that have vested and are no longer subject to forfeiture according to the Vesting Schedule
are referred to herein as &ldquo;<B><I>Vested Units</I></B>.&rdquo; Restricted Stock Units that have not vested and remain subject
to forfeiture under the Vesting Schedule are referred to herein as &ldquo;<B><I>Unvested Units</I></B>.&rdquo; The Unvested Units
will vest and become payable in accordance with the Vesting Schedule. As soon as practicable after the Unvested Units become Vested
Units, the Company will settle the Vested Units by issuing to Director one share of the Company&rsquo;s Common Stock for each Vested
Unit (the date of such settlement, the &ldquo;Payment Date&rdquo;). No fractional shares shall be issued under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%; text-align: right"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="vertical-align: baseline"><B>Thor Industries, Inc. 2016 Equity and Incentive Plan<BR> Restricted Stock Unit Award Agreement &ndash; Page 1</B></FONT></P></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Forfeiture of Unvested Units</I>. Except as otherwise provided in this Section, Restricted Stock Units previously granted
to Director may be forfeited, unless the Nominating and Governance Committee of the Board shall deem facts sufficient to prevent
forfeiture, if Director:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">i)</TD><TD STYLE="text-align: justify">shall be found guilty of a felony or is found guilty of breach of fiduciary duty to the Company;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">ii)</TD><TD STYLE="text-align: justify">ceases to be a director for reasons other than death, incapacity or retirement from the Board after
at least five (5) years of service as a director of the Company prior to vesting of any Restricted Stock Units awarded (an &ldquo;Involuntary
Termination&rdquo;); or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">iii)</TD><TD STYLE="text-align: justify">elects not to stand for reelection.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No Shares shall be issued or issuable with
respect to any portion of the Award that terminates unvested and is forfeited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Non-retention</I>. In the event that Director shall not be renominated or shall not be reelected by stockholders of the
Company, Unvested Units previously awarded to Director shall vest in the ordinary course of their vesting schedule and shall not
be forfeited.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Restriction on Transfer of Restricted Stock Units</I>. Except as provided in Section 5, until the applicable Payment
Date, Restricted Stock Units and any related securities, other property or amounts nominally credited to the Restricted Stock Unit
Account may not be sold, transferred, or otherwise disposed of, and may not be pledged or otherwise hypothecated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Right to Shares</B>. Until the applicable Payment Date, Director shall not have any right in, to or with respect to any
of the Shares (including any voting rights or rights with respect to dividends paid on the Common Stock) issuable under the Award
until the Award is settled by the issuance of such Shares to the Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Compliance with Laws and Regulations</B>. The issuance and transfer of Common Stock under this Award is subject to the
Company&rsquo;s and Director&rsquo;s full compliance, to the satisfaction of the Company and its counsel, with all applicable requirements
of federal, state, and foreign securities laws and with all applicable requirements of any securities exchange on which the Common
Stock may be listed at the time of such issuance or transfer. Director understands that the Company is under no obligation to register
or qualify the shares of Common Stock with the Securities Exchange Commission, any state securities commission, foreign securities
regulatory authority, or any securities exchange to effect such compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Beneficiary. </B>Notwithstanding anything to the contrary contained herein, Director may, by delivering written notice
to the Company, in a form satisfactory to the Company, designate a third party who, in the event of an Involuntary Termination
of Director, shall thereafter be entitled to receive from the Company one share of Common Stock for each outstanding Restricted
Stock Unit on the Payment Date. The third party&rsquo;s rights outlined in the previous sentence shall be subject to all applicable
withholding requirements established by the Company. Director&rsquo;s ability to designate its beneficiary under this Section,
and have that beneficiary receive the applicable Common Stock upon Director&rsquo;s Involuntary Termination, shall be exempt from
the forfeiture and transfer provisions of Section 2(a) and 2(c), respectively, of this Agreement. For the avoidance of doubt, if
Director ceases Continuous Service prior to his Involuntary Termination, Section 2(a) shall apply and Director will immediately
forfeit the Unvested Units.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Change in Control</B>. In the event that a Change in Control is consummated, all Unvested Units shall immediately vest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Representations and Warranties of Director</B>. Director represents and warrants to the Company as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Agrees to Terms of the Plan</I>. Director has received a copy of the Plan and has read and understands the terms of the
Plan, the Certificate, and this Agreement, and agrees to be bound by their terms and conditions. Director acknowledges that there
may be adverse tax consequences upon the vesting of Restricted Stock Units or disposition of the shares of Common Stock received
pursuant to settlement of this Award, and that Director should consult a tax advisor before such time. Director agrees to sign
such additional documentation as the Company may reasonably require from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><I>Rule 144</I>. Director understands that, to the extent Director wishes to avail himself of Rule 144 promulgated under
the Securities Act in connection with any transfer of Common Stock received pursuant to settlement of this Award, Rule 144 may
indefinitely impose transfer restrictions on such transfer if Director is an &ldquo;affiliate&rdquo; of the Company (as defined
in Rule 144), or for up to one year if Director is not an &ldquo;affiliate&rdquo; of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Compliance with Securities Laws</B>. Director understands and acknowledges that, notwithstanding any other provision
of this Agreement to the contrary, the issuance, holding and transfer of the Common Stock received pursuant to settlement of this
Award shall be subject to compliance by the Company and Director with all applicable requirements of federal and state securities
laws and with all applicable requirements of any stock exchange on which the Company&rsquo;s Common Stock may be listed from time
to time. Director understands that the Company is under no obligation to register or qualify the Shares with the Securities and
Exchange Commission, any state securities commission or any stock exchange to effect such compliance. Director agrees to cooperate
with the Company to ensure compliance with such laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Adjustments</B>. The Restricted Stock Units are subject to the adjustment provisions set forth in Section 11 of the Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Modification</B>. The Agreement may be modified only in writing signed by both parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Interpretation</B>. Any dispute regarding the interpretation of this Agreement must be submitted by Director or the Company
to the Administrator for review. The resolution of such a dispute by the Administrator will be final and binding on the Company
and Director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Entire Agreement</B>. The Plan and the Certificate are incorporated herein by reference, and Director hereby acknowledges
receiving a copy of the Plan. 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. In the event of a conflict or inconsistency between
the terms and conditions of this Agreement, the Certificate, and the Plan, the Plan will govern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Notices</B>. Any notice required under this Agreement to be given or delivered to the Company must 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 Director must be in writing and addressed to Director at the address indicated on the Certificate or to such other address as
Director designates in writing to the Company. All notices will be deemed to have been given or delivered (a)&nbsp;upon personal
delivery, (b)&nbsp;five days after deposit in the United States mail by certified or registered mail (return receipt requested),
(c)&nbsp;two business days after deposit with any return receipt express courier (prepaid), or (d)&nbsp;one business day after
transmission by facsimile.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Successors and Assigns</B>. The Company may assign any of its rights under this Agreement. This Agreement will 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 is binding upon Director and Director&rsquo;s heirs, executors, administrators, legal representatives, successors
and assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B>Governing Law</B>. This Agreement will 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>image_002.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_002.jpg
M_]C_X  02D9)1@ ! 0   0 !  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  W (\# 2(  A$! Q$!_\0
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M1I)0MKZ7_0\)NK4;G?\ &WZG/?\ "5^(O^@]JG_@7)_C1_PE?B+_ *#VJ?\
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M*L:+C:[;1Z*Q-.512O9(7QQH6BZW\2I[:Z\1?V==RQQ*$EM"4)VC W[@,GW
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..J2CR[7-J.$IQES=C_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
