FURTHER REPORT - TOURISM NOOSA FUNDING AND PERFORMANCE DEED 2026–2029 · Attachment 1 - 29-05-2026_TN Funding Deed_FINAL

5.       Party obligations

5.1      Insurance

         (a)       TN must, at its own cost, take out and maintain during the Term of this Deed the
                   following insurances with a reputable insurer licensed in the jurisdiction:

                         (i)       Public Liability Insurance for an amount not less than $20 million
                                   per occurrence, covering claims in respect of personal injury,
                                   death, or property damage arising out of or in connection with the
                                   performance of this Deed;

                         (ii)      Professional Indemnity Insurance (if applicable) for an amount
                                   not less than $2 million per claim and in the aggregate, covering
                                   liability for any negligent acts, errors, or omissions in the provision
                                   of services under this Deed;

                         (iii)     Workers Compensation Insurance as required by law for its
                                   employees; and

                         (iv)      Any other insurance that a reasonable and prudent business in the
                                   same industry would maintain or that is reasonably necessary to
                                   protect against the risks associated with the performance of this
                                   Deed.

         (b)       TN must, upon request, provide the other party with certificates of currency
                   evidencing the above insurances and must notify the other party of any
                   cancellation or material change to the policies.


5.2      Governance

         (a)       TN may review and make appropriate changes to its Annual Operational and/or
                   Business Plan upon reasonable request by Council.

         (b)       Both Parties will conduct themselves in accordance with best practice standards
                   of internal governance.

         (c)       TN will cooperate with Council and take appropriate action to address any
                   reasonable corporate governance concerns raised by Council.

         (d)       Council's appointed Observer will be invited to and included in all TN Board
                   meetings.

         (e)       TN may present material to Council at any time where they have requested in
                   writing to do so, and the request has been approved by Council.




 Tourism Noosa Funding Deed, 2026-29                                                               Page 11