THOR INDUSTRIES, INC.
2006 EQUITY INCENTIVE PLAN
STOCK OPTION AGREEMENT
This Stock Option Agreement (the “ Agreement ”) is made and entered into as of the date of
grant set forth below (the “ Date of Grant” ) by and between Thor Industries, Inc., a Delaware
corporation (the “ Company ”), and the participant named below (“ Participant ”). Capitalized
terms not defined herein shall have the meaning ascribed to them in the Company’s 2006 Equity
Incentive Plan (the “ Plan ”).
1. Grant of Option . The Company hereby grants to Participant an option (this “ Option ”) to
purchase the total number of shares of Common Stock of the Company set forth above as Total
Option Shares (the “ Shares ”) at the Exercise Price Per Share set forth above (the “ Exercise
Price ”), subject to all of the terms and conditions of this Agreement and the Plan.
2. Exercise Period; Vesting . Unless expired as provided in Section 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 9
below. Provided Participant continues to provide Continuous Service to the Company or any
Affiliate, the Option will become vested and exercisable with respect to the 20% of the Shares on
each of the first five anniversaries of the Date of Grant; provided, that 50,000 of the Shares to vest
on each of the vesting dates specified in the foregoing clause will not vest on a given scheduled
vesting date and will automatically be forfeited, regardless of the Participant’s Continuous Service,
if William Fenech remains in Continuous Service from the Grant Date through such vesting, or if
earlier, through the occurrence of a Change in Control.
A vested Option may not be exercised for less than a full share. If application of the vesting