Meeting papers

Page 330 of 518

HWL
                                                                                 EBSWORTH

     3.      Further Term

     3.1     Subject to the parties being in compliance with their obligations under this Deed, the
             parties will commence discussions from 1 July 2024 regarding the potential Further
             Term, including further funding for the Further Term and the terms on which that funding
             will be provided, and will conclude those discussions by 31 December 2024.
     3.2     The parties may, but are not obliged to, agree to the Further Term.

     4.      __TN's obligations                 .

     4.4     Governance

                                     (a)    By 30 September 2023, TN will develop a 4 year
                                            strategic plan which incorporates the priorities,
                                            obligations and performance measures set out at
                                            Schedule 1 of this Deed.

                                     (b)    Within 10 business days of the end of each quarter, or
                                            upon request for Council, TN will provide Council with
                                            financial and other reports in relation to the expenditure
                                            of the Funding and the financial and other benefits
                                            attributable to the Funding.
                                     (c)    TN will review and make appropriate changes to its
                                            strategy and expenditure upon reasonable request by
                                            Council.

                                     (d)    TN will conduct itself in accordance with best practice
                                            standards of internal governance.
:                                    (e)    Council's appointed Observer will be invited to and
                                            included in all TN Board meetings.
                                     (f)    TN will perform annual performance reviews of its key
                                            staff and directors.

                                     (g)    TN will cooperate with Council and take appropriate
                                            action to address any corporate governance concerns
                                            raised by Council:
                    (i)      Firstly, by liaison between TN and the Council appointed Observer; and
                    (ii)     Secondly, if requested by Council, by liaison between TN and Council's
                             CEO and/or Mayor.

      Tourism Noosa Funding Deed                                                             Page 5
      Endorsed Ordinary Meeting- 20 April 2023
      ECM: 22408732

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