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EXHIBIT 10p.

                                     [LOGO]

                      OFFICERS INCENTIVE COMPENSATION PLAN

                               GROUP A - OFFICERS

                               FISCAL PERIOD 2005

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                           WINNEBAGO INDUSTRIES, INC.
                      OFFICERS INCENTIVE COMPENSATION PLAN

                               FISCAL PERIOD 2005

1.       PURPOSE. The purpose of the Winnebago Industries, Inc. Officers
         Incentive Compensation Plan (the "Plan") is to promote the growth and
         profitability of Winnebago Industries, Inc. (the "Company") by
         providing its officers with an incentive to achieve 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 year.

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 and for
                  payment of earned holdback allocations due to retirement,
                  disability or death. Unless otherwise specified, participants
                  must be employed as of the end of the fiscal period for any
                  quarterly incentive payment and employed as of the end of the
                  fiscal year to be eligible for any holdback.

4.       NATURE OF THE PLAN. The incentive award is based upon financial
         performance of the Corporation. The Plan is an annual program that
         provides for quarterly cumulative measurements of financial performance
         and an opportunity for quarterly incentive payment based on performance
         results.

         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 annually 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' incentive
         compensation for the quarter shall be in direct proportion to the
         financial performance expressed as a percentage (Financial Factor)
         against predetermined compensation targets for each participant. Upon
         completion of the first quarter of the fiscal year, quarterly results
         thereafter shall be combined to form cumulative fiscal year-to-date
         results. The results for the respective period will be used in
         identifying the Financial Factor to be used for that period when
         calculating the participants incentive compensation.

         50% of the quarterly calculated incentive will be paid within 45 days
         after the close of the fiscal quarter. The remaining 50% of the
         quarterly calculated incentive will be held back and carried forward
         into the next cumulative quarter. At the end of the fourth fiscal
         quarter (fiscal year end), a final year-end accounting will be made
         prior to the payment of any remaining incentive holdback for the year.

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         The incentive for the officers except for the Chief Executive Officer,
         provides for a 60% bonus (Target) comprised of (2/3) cash and (1/3)
         stock (or in cash at the participants election pursuant to Section 7)
         at 100% achievement of the financial objectives. The incentive for the
         Chief Executive Officer provides for a 105% bonus (Target) comprised of
         (2/3) cash and (1/3) stock (or in cash at the participants election
         pursuant to Section 7) at 100% achievement of the financial objectives.

         A participant must be employed by Winnebago Industries, Inc. at the end
         of the fiscal year to be eligible for any previous quarterly holdback
         allocations except as waived by the President of Winnebago Industries,
         Inc. for normal retirement and disability.

6.       STRATEGIC PERFORMANCE. The Human Resources Committee reserves the right
         to modify the core incentive eligibility by plus/minus 20% (of the
         calculated Financial Factor) based upon strategic organizational
         priorities. Strategic performance will be measured at the end of the
         fiscal year only. Strategic measurements may focus on one or more of
         the following strategic factors but are not limited to those stated.

                  Revenue Growth                Customer Satisfaction
                  Market Share                  Inventory Management
                  Product Quality               Technical Innovation
                  Product Introductions         Ethical Business Practices

7.       ANNUAL SUPPLEMENTARY MATCH. Fifty percent (50%) of a participant's cash
         incentive compensation earned for the year, pursuant to Paragraph 5 of
         the Plan will be matched annually by the Company in the form of
         restricted company stock (or in cash if elected by the participant).
         The annual supplementary Company match shall be paid as soon as
         practical after the final year-end compensation accounting and payment
         of any remaining incentive compensation holdback for the year.
         Participants shall elect in writing within 45 days following the end of
         the fiscal year whether to receive the total of any annual
         supplementary company match in the form of restricted company stock or
         in the form of cash. A participant shall be eligible for the
         supplementary match only if such participant is actively employed at
         the end of the fiscal year.

8.       CHANGE IN CONTROL. In the event the Company undergoes a change in
         control during the Plan year 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 year immediately preceding the Effective Date. In making such
         estimate, the Committee may compare the achievement of the finance
         performance against forecast through the Plan period and may consider
         such 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 Plan year award within 15 days after the
         Effective Date to all participants. Any holdback for previous period(s)
         will be released and paid to the participant together with the annual
         supplementary cash match payment earned.

         "CHANGE IN CONTROL" for the purposes of the Officers Incentive
         Compensation 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.)

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         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 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.

9.       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.

10.      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                                          June 18, 2004
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Bruce D. Hertzke                                              Dated
Chairman of the Board, CEO and President

/s/ Frederick M. Zimmerman                                    June 30, 2004
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Frederick M. Zimmerman                                        Dated
Human Resources Committee ChairmanEXHIBIT 10v.

                                     [LOGO]

                        OFFICERS LONG-TERM INCENTIVE PLAN

                            FISCAL THREE-YEAR PERIOD

                               2005, 2006 AND 2007

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                           WINNEBAGO INDUSTRIES, INC.
                        OFFICERS LONG-TERM INCENTIVE PLAN
                  FISCAL THREE-YEAR PERIOD 2005, 2006 AND 2007

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 long-term incentive award will be a performance
         stock grant made in restricted shares of the common stock of Winnebago
         Industries, Inc. or in cash if elected by the participant. 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 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 restricted
         stock or 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 2005. The resultant stock
         unit share opportunity or 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.

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         Participants shall elect in writing within 45 days following the end of
         the three (3) year fiscal period whether to receive the total of any
         such long-term incentive award in the form of restricted company stock
         or in the form of cash.

         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 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.

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                  (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.

11.      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.

12.      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                                          June 18, 2004
--------------------------------------------                  ------------------
Bruce D. Hertzke                                              Dated
Chairman of the Board, CEO and President

/s/ Frederick M. Zimmerman                                    June 30, 2004
--------------------------------------------                  ------------------
Frederick M. Zimmerman                                        Dated
Human Resources Committee Chairman

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