Document:

EXHIBIT 10u.

                                [WINNEBAGO LOGO]

                        OFFICERS LONG-TERM INCENTIVE PLAN

                            FISCAL THREE-YEAR PERIOD

                               2004, 2005 AND 2006

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                           WINNEBAGO INDUSTRIES, INC.
                        OFFICERS LONG-TERM INCENTIVE PLAN
                  FISCAL THREE-YEAR PERIOD 2004, 2005 AND 2006

1.   PURPOSE. The purpose of the Winnebago Industries, Inc. Officers Long-Term
     Incentive Plan (the "Plan") is to promote the long-term growth and
     profitability of Winnebago Industries, Inc. (the "Company") by providing
     its officers with an incentive to achieve long-term corporate profit
     objectives and to attract and retain officers who will contribute to the
     achievement of growth and profitability of the Company.

2.   ADMINISTRATION.

          a.   HUMAN RESOURCES COMMITTEE. The Plan shall be administered by a
               Committee (the "Committee") appointed by the Board of Directors.

          b.   POWERS AND DUTIES. The Committee shall have sole discretion and
               authority to make any and all determinations necessary or
               advisable for administration of the Plan and may amend or revoke
               any rule or regulation so established for the proper
               administration of the Plan. All interpretations, decisions, or
               determinations made by the Committee pursuant to the Plan shall
               be final and conclusive.

          c.   ANNUAL APPROVAL. The Committee must approve the Plan prior to the
               beginning of each new fiscal three (3) year plan period. Each
               year a new plan will be established for a new three-year period.

3.   PARTICIPATION ELIGIBILITY.

          a.   Participants must be an officer of the Company with
               responsibilities that can have a real impact on the Corporation's
               end results.

          b.   The Committee will approve all initial participation prior to the
               beginning of each new program except as provided for in section
               c. below.

          c.   The President of Winnebago Industries, Inc. will make the
               determination on participation for new participants, for partial
               awards due to retirement, disability or death. Unless otherwise
               specified, participants must be employed as of the end of the
               three (3) year fiscal period to be eligible for any incentive
               award.

4.   NATURE OF THE PLAN. The long-term incentive award is based upon financial
     performance of the Corporation. The Plan is a three (3) year (fiscal)
     program that provides for an opportunity for an incentive award based on
     the achievement of long-term financial performance results as measured at
     the end of the three (3) year fiscal period.

     The financial performance measurements for this Plan will be based upon one
     or more pre-established financial criteria. These financial performance
     measurements will provide an appropriate balance between quality and
     quantity of earnings. The Board establishes the financial measurements
     including a Target, a minimum threshold below which an incentive will not
     be paid and a maximum incentive level.

5.   METHOD OF PAYMENT. The amount of the participants' long-term incentive
     award for the three (3) year fiscal period shall be in direct proportion to
     the financial performance expressed as a percentage (Financial Factor)
     against predetermined award targets for each participant. The results for
     the fiscal three (3) year period will be used in identifying the

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     Financial Factor to be used for that plan period when calculating the
     participants long-term incentive awards.

     The long-term incentive for the officers provides for an opportunity of 25%
     of the annualized base salary (Target) to be awarded in cash at 100%
     achievement of the financial long-term objectives. The annualized base
     salary figure used shall be the salary in place for each participant as of
     January 2004. The resultant cash award opportunity (at 100% of Plan) will
     be adjusted up or down as determined by actual financial performance
     expressed as a percentage (Financial Factor) at the end of the three (3)
     year fiscal period.

     A participant must be employed by Winnebago Industries, Inc. at the end of
     the fiscal three (3) year period to be eligible for any long-term incentive
     award except as waived by the President of Winnebago Industries, Inc. for
     normal retirement and disability.

6.   CHANGE IN CONTROL. In the event the Company undergoes a change in control
     during the fiscal three (3) year plan period including, without limitation,
     an acquisition or merger involving the Corporation ("Change in Control"),
     the Committee shall, prior to the effective date of the Change in Control
     (the "Effective Date"), make a good faith estimate with respect to the
     achievement of the financial performance through the end of the Plan three
     (3) year period. In making such estimate, the Committee may compare the
     achievement of the financial performance against the forecast through the
     Plan three (3) year period and may consider such other factors as it deems
     appropriate. The Committee shall exclude from any such estimate any and all
     costs and expenses arising out of or in connection with the Change in
     Control. Based on such estimate, the Committee shall make a full three (3)
     year Plan award within 15 days after the Effective date to all
     participants.

     "CHANGE IN CONTROL" for the purposes of the Officers Long-Term Incentive
     Plan shall mean the time when (i) any Person becomes an Acquiring Person,
     or (ii) individuals who shall qualify as Continuing Directors of the
     Company shall have ceased for any reason to constitute at least a majority
     of the Board of Directors of the Company, provided however, that in the
     case of either clause (i) or (ii) a Change of Control shall not be deemed
     to have occurred if the event shall have been approved prior to the
     occurrence thereof by a majority of the Continuing Directors who shall then
     be members of such Board of Directors, and in the case of clause (i) a
     Change of Control shall not be deemed to have occurred upon the acquisition
     of stock of the Company by a pension, profit-sharing, stock bonus, employee
     stock ownership plan or other retirement plan intended to be qualified
     under Section 401(a) of the Internal Revenue Code of 1986, as amended,
     established by the Company or any subsidiary of the Company. (In addition,
     stock held by such a plan shall not be treated as outstanding in
     determining ownership percentages for purposes of this definition.)

     For the purpose of the definition "Change of Control:"

          (a)  "Continuing Director" means (i) any member of the Board of
               Directors of the Company, while such person is a member of the
               Board, who is not an Affiliate or Associate of any Acquiring
               Person or of any such Acquiring Person's Affiliate or Associate
               and was a member of the Board prior to the time when such
               Acquiring Person shall have become an Acquiring Person, and (ii)
               any successor of a Continuing Director, while such successor is a
               member of the Board, who is not an Acquiring Person or any
               Affiliate or Associate of any Acquiring Person or a
               representative or nominee of an Acquiring Person or of any
               affiliate or associate of such Acquiring Person and is
               recommended or elected to succeed the Continuing Director by a
               majority of the Continuing Directors.

          (b)  "Acquiring Person" means any Person or any individual or group of
               Affiliates

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               or Associates of such Person who acquires beneficial ownership,
               directly or indirectly, of 20% or more of the outstanding stock
               of the Company if such acquisition occurs in whole or in part,
               except that the term "Acquiring Person" shall not include a
               Hanson Family Member or an Affiliate or Associate of a Hanson
               Family Member.

          (c)  "Affiliate" means a Person that directly or indirectly through
               one or more intermediaries, controls, or is controlled by, or is
               under common control with, the person specified.

          (d)  "Associate" means (1) any corporate, partnership, limited
               liability company, entity or organization (other than the Company
               or a majority-owned subsidiary of the Company) of which such a
               Person is an officer, director, member, or partner or is,
               directly or indirectly the beneficial owner of ten percent (10%)
               or more of the class of equity securities, (2) any trust or fund
               in which such person has a substantial beneficial interest or as
               to which such person serves as trustee or in a similar fiduciary
               capacity, (3) any relative or spouse of such person, or any
               relative of such spouse, or (4) any investment company for which
               such person or any Affiliate of such person serves as investment
               advisor.

          (e)  "Hanson Family Member" means John K. Hanson and Luise V. Hanson
               (and the executors or administrators of their estates), their
               lineal descendants (and the executors or administrators of their
               estates), the spouses of their lineal descendants (and the
               executors or administrators of their estates) and the John K. and
               Luise V. Hanson Foundation.

          (f)  "Company" means Winnebago Industries, Inc., an Iowa corporation.

          (g)  "Person" means an individual, corporation, limited liability
               company, partnership, association, joint stock company, trust,
               unincorporated organization or government or political
               subdivision thereof.

7.   GOVERNING LAW. Except to the extent preempted by federal law, the
     consideration and operation of the Plan shall be governed by the laws of
     the State of Iowa.

8.   EMPLOYMENT RIGHTS. Nothing in this Plan shall confer upon any employee the
     right to continue in the employ of the Company, or affect the right of the
     Company to terminate an employee's employment at any time, with or without
     cause.

Approved by:

/s/ Bruce D. Hertzke                                October 15, 2003
-----------------------------------------           --------------------------
Bruce D. Hertzke                                    Dated
Chairman of the Board, CEO and President

/s/ Frederick M. Zimmerman                          October 15, 2003
-----------------------------------------           --------------------------
Frederick M. Zimmerman                              Dated
Human Resources Committee ChairmanExhibit - Real Estate Sales Purchase Agreement

Exhibit 10.1

REAL ESTATE SALES PURCHASE AGREEMENT 

        This
Real Estate Sales Purchase Agreement, made and entered
into this 21st day of November, 2003, by and between THE KELLER
MANUFACTURING COMPANY, INC., hereinafter referred to as SELLER, and YOUNG
MEN’S CHRISTIAN ASSOCIATION OF HARRISON COUNTY, INC., a/k/a YMCA,
hereinafter referred to as BUYER.

        For and in consideration of the
mutual obligations herein contained, Seller agrees to sell, convey, transfer and
assign to Buyer, and Buyer agrees to purchase from Seller, certain property
located in Corydon, IN 47112, Harrison County, Indiana and more particularly
described as follows:

	 	
All that part of a 44.3 acre tract of land owned by the Seller in Section 30, Township 3
South, Range 4 East and Section 25, Township 3 South, Range 3 East, in Harrison County,
Indiana.
	 

        
(1)        
PURCHASE PRICE–The total purchase price for the real
estate agreed to be sold and being the amount Seller is willing to accept and
Buyer to pay is the sum of FIVE HUNDRED THOUSAND DOLLARS and ZERO CENTS,
($500,000.00).

        
(2)        
EARNEST MONEY-Buyer shall pay the sum of TEN THOUSAND DOLLARS
and ZERO CENTS ($10,000.00) as earnest money.

        
(3)         MANNER OF
PAYMENT-Buyer shall pay the remaining principal balance of the purchase
price of FOUR HUNDRED NINETY THOUSAND DOLLARS and ZERO CENTS
($490,000.00) on date of closing. Buyer shall pay all fees associated with
any financing they obtain.

        
(4)        
CLOSING-The closing of the sale shall be on or before
January 31, 2004. If Buyer fails to close within said time, Seller may elect to
terminate this agreement and keep earnest money.

        
(5)        
POSSESSION-The possession of the property shall be
delivered to Buyer upon closing.

        
(6)        
TITLE APPROVAL- Seller shall provide the Corporate Warranty
Deed. The Buyer shall pay all title examination costs, closing costs, inspection
fees and all recording fees.

        
(7)        
TAXES-Taxes shall be prorated to the date of closing. Buyer
shall assume real estate taxes commencing at closing and thereafter.

        
(8)        
ATTORNEY’S FEES-Any party to this agreement who is the prevailing party in
any legal or equitable proceeding against any other party brought under or with
relation to the agreement or transaction shall be additionally entitled to
recover court costs and reasonable attorney’s fees from the non-prevailing
party.

        
(9)        
CASUALTY LOSS-Risk of loss by damage or destruction to the property prior
to the closing shall be borne by Seller. In the event any such damage or
destruction is not fully repaired prior to closing, Buyer, at Buyer’s
option, may either terminate this agreement or elect to close the transaction,
in which event Seller’s right to all insurance proceeds resulting from such
damage or destruction shall be assigned in writing by Seller to Buyer. Buyer
shall bear risk of loss after closing. Buyer is responsible for obtaining hazard
insurance after closing.

        
(10)        
MISCELLANEOUS-

	 	
        (a)        
Conveyance of this property shall be by Corporate Warranty Deed, subject to taxes, easements, restrictive
covenants and encumbrances or record, unless otherwise agreed.

	 	
        (b)        
Any notice required or
permitted to be delivered hereunder, shall be deemed received when personally
delivered, transmitted by facsimile or sent by express courier or United States
mail, postage prepaid, certified and return receipt requested, addressed to
Seller or Buyer or the designated agent of either party, as the case may be, at
the following addresses.

        
        
        
SELLER:    P.O. Box 8, Corydon, IN 47112

        
        
        
BUYER:    P.O. Box 156, Corydon, IN 47112

	 	
        (c)        
This agreement shall be
construed under and in accordance with the laws of the State of Indiana and is
binding upon the parties’ respective heirs, executors, administrators,
legal representatives, successors, and assigns.

	 	
        (d)        
In case any provision
contained in this agreement is held invalid, illegal, or unenforceable in any
respect, such invalidity, illegality, or unenforceability shall not affect any
other provision of this agreement.

	 	
        (e)        
This agreement constitutes
the sale and only agreement of the parties and supercedes any prior
understandings or written or oral agreements between the parties respecting the
transaction and cannot be changed except by their written consent.

	 	
        (f)        
All rights, duties and
obligations of the parties shall survive the passing of title to, or an interest
in the property.

	 	
        (g)        
This Agreement shall be
subject to a Phase I Environmental Assessment to be performed at the expense of
the YMCA.

	 	
        (h)        
The name “Keller” will be included in the name of the park on the
acquired property, except under the circumstance where a significant
contribution is made contingent upon having naming rights. The buyer will make
all reasonable efforts to keep “Keller” in the name of the
park.

        (11)        
TIME-Time is of the essence.

        This Agreement shall be binding
on each of the parties, their heirs, representatives, successors and assigns.

        Dated this 21st day of November,
2003.

	
Date:  11/21/03

Date:  11/21/03	
By:  /s/ David T. Richardson

Name Printed:  David T. Richardson

Title:  CFO

THE KELLER MANUFACTURING COMPANY, INC., Seller

By:  /s/ Jerry Reinhardt

Name Printed:  Jerry Reinhardt

Title:  President-Board of Directors

YOUNG MEN'S CHRISTIAN ASSOCIATION OF

HARRISON COUNTY, INC., Buyer

	
STATE OF INDIANA

COUNTY OF HARRISON
	
)

) SS:

)

        
Before me a Notary Public in and for said County and State, personally appeared
THE KELLER MANUFACTURING COMPANY, INC. by David Richardson its CFO and
acknowledged the execution of the foregoing purchase agreement. Witness by hand
and Notary Seal this 21st day of November, 2003.

	
My Commission expires:

May 9, 2007
	
/s/  Paula L. Smith

Name Printed:

Notary Public

	
STATE OF INDIANA

COUNTY OF HARRISON
	
)

) SS:

)

         Before me a Notary Public in
and for said County and State, personally appeared YOUNG MEN‘S CHRISTIAN
ASSOCIATION OF HARRISON COUNTY, INC. by Jerry Reinhardt its President, Bd of
Dir. and acknowledged the execution of the foregoing purchase agreement. Witness
by hand and Notary Seal this 21st day of November, 2003.

	
My Commission expires:

May 9, 2007
	
/s/  Paula L. Smith

Name Printed:

Notary Public

THIS INSTRUMENT PREPARED BY:

Christopher L. Byrd, Attorney #23526-49

HAROLD E. DILLMAN, Attorneys at Law

219 N. Capitol Avenue, Suite 200

P.O. Box 640

Corydon, IN 47112

(812) 738-2100

ACCEPTANCE OF OFFER AND RECEIPT OF EARNEST MONEY 

        The Undersigned, Seller,
hereby accepts such offer and acknowledges receipt of TEN THOUSAND DOLLARS and
ZERO CENTS ($10,000.00) as Earnest Money to be held for Buyer’s benefit and
either applied or forfeited according to the terms of this Contract for Purchase
of Real Estate. 

         THIS
OFFER ACCEPTED THIS 21st DAY OF NOVEMBER, 2003, at 9:00, ____.m.

	
Date:  11/21/03

Date:  11/21/03	
By:  /s/ David T. Richardson

THE KELLER MANUFACTURING COMPANY, INC., Seller

By:  /s/ Jerry Reinhardt

YOUNG MEN'S CHRISTIAN ASSOCIATION OF

HARRISON COUNTY, INC., Buyer

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