TOURISM NOOSA FUNDING AGREEMENT (REFERRED FROM S&O 11 APRIL 2023) · Attachment 1 - Deed - Funding Agreement Final

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

4.1      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

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