TOURISM NOOSA FUNDING AND PERFORMANCE DEED 2026–2029 · ATTACHMENT 1_Tourism Noosa Funding and Performance Deed 2026-2029

                   (Performance Review Meeting) with the purpose to identify the causes of
                   underperformance and agree on any required remediation actions.

         (b)       Council and TN must meet to conduct the Performance Review Meeting within
                   30 days of the notice issued under clause 2.5(a).

         (c)       If TN achieves less than 50% of the KPIs and Target Metrics for two (2)
                   consecutive Financial Years, Council will have an immediate right to terminate
                   this Deed by written notice to TN. This right is exercisable at Councils sole
                   discretion and is in addition to any other rights Council may under this Deed or
                   at law.

         (d)       The conduct of a Performance Review Meeting under clause 2.5(a) does not
                   limit Council’s rights under clause 2.4(b) and does not prevent Council from
                   applying any Performance Adjustment in accordance with clause 2.4.

2.6      TN must use the Funding, to carry out its obligations under this Deed, including
         achieving the Agreed Priorities, KPIs and Target Metrics in Schedule 1 for the duration
         of the Term. This may include reasonable operational and administrative expenses
         necessary for delivering those obligations. TN must not use the Funding, for any
         unrelated purpose, unless otherwise approved in writing by Council, otherwise clause
         2.12 applies.

2.7      Subject to the terms of this Deed:

         (a)       the Funding is for the Term or balance of the Term remaining; and

         (b)       the Funding must be spent by TN within the Term or such other period as
                   approved in writing by Council.

2.8      Any portion of the Funding not spent by TN in accordance with clause 2.7(b) must be
         repaid to Council within 60 days of the expiry of the Term.

2.9      The Funding is the total amount of funding which will be provided by Council to TN each
         year during the Term.

2.10     If, despite clause 2.9 above, TN seeks additional funding from Council, the additional
         funding must be for a purpose which aligns with the DMP and other relevant Council
         strategies and TN must make a request in writing to Council for that funding, and
         Council may, in its sole discretion, approve or decline that request for additional funding.

2.11     On the anniversary of the commencement date of the Term (Adjustment Date), the
         amount of the First Instalment, Second Instalment and Third Instalment that comprise
         the Funding will increase by the lesser of:

         (a)       The percentage change in the Consumer Price Index (All Groups Brisbane) as
                   published by the Australian Bureau of Statistics, for the most recent published
                   quarterly CPI rate (March quarter) preceding the Adjustment Date; and

         (b)       3.5%.


 Tourism Noosa Funding Deed, 2026-29                                                          Page 8