PERFORMANCE OBJECTIVES Clause Samples

PERFORMANCE OBJECTIVES. The Performance Objectives for the applicable Performance Period pursuant to the Agreement, and the applicable weighting of each Performance Objective expressed as a percentage of the Target shares, shall be as stated in Schedule B, attached hereto, the terms of which shall be incorporated in and constitute a part of the Agreement.

PERFORMANCE OBJECTIVES. 4.1 The Performance Plan (Annexure A) sets out- 4.1.1 the performance objectives and targets that must be met by the Employee; and 4.1.2 the time frames within which those performance objectives and targets must be met. 4.2 The performance objectives and targets reflected in Annexure A are set by the Employer in consultation with the Employee and based on the Integrated Development Plan, Service Delivery and Budget Implementation Plan (SDBIP) and the Budget of the Employer, and shall include key objectives; key performance indicators; target dates and weightings. 4.2.1 The key objectives describe the main tasks that need to be done. 4.2.2 The key performance indicators provide the details of the evidence that must be provided to show that a key objective has been achieved. 4.2.3 The target dates describe the timeframe in which the work must be achieved. 4.2.4 The weightings show the relative importance of the key objectives to each other. 4.3 The Employee’s performance will, in addition, be measured in terms of contributions to the goals and strategies set out in the Employer’s Integrated Development Plan.

PERFORMANCE OBJECTIVES. 4.1 The Performance Plan (Annexure “A” ) sets out: 4.1.1 the performance objectives and targets that must be met by the Employee; and 4.1.2 the time frames within which those performance objectives and targets must be met. 4.1.3 The performance objectives and targets reflected in Annexure A are set by the Employer in the consultation with the Employee and based on the Integrated Development Plan and the Budget of the Employer, and shall include key objectives; key performance indicators; target dates and weightings. 4.2 The key objectives describe the main tasks that need to be done. The key performance indicators provide the details of the evidence that must be provided to show that a key objective has been achieved. The target dates describe the timeframe in which the work must be achieved. The weightings show the relative importance of the key objectives to each other. 4.3 The Employee performance will, in addition, be measured in terms of contributions to the goals and strategies set out in the Employer’s Integrated Development Plan. 4.4 The Employer will make available to the Employee such employees as the Employee may reasonably require from time to time to assist him to meet the performance objectives and targets established in terms of this Agreement; provided that it will at all times remain the responsibility of the Employee to ensure that he complies with those performance obligations and targets. 4.5 The Employee will at his request be delegated such powers by the Employee as may in the discretion of the Employer be reasonably required from time to time to enable him to meet the performance objectives and targets established in terms of this Agreement. 4.6 The Employer will be entitled to review and make reasonable changes to the provisions of Annexure “A” from time to time for operational reasons. The Employee will be fully consulted before any such change is made. 4.7 The provisions of Annexure “A” may be amended by the Employer when the Employer’s performance management system is adopted, implemented and/or amended as the case may be.

PERFORMANCE OBJECTIVES. Subject to the terms of this Agreement, the Participant’s interest in the Stock Award shall vest and become transferable in accordance with paragraphs 3, 4 and 5 and Exhibit I based on the Company’s Compounded Annual Growth Rate TSR for the applicable measurement period relative to the Compounded Annual Growth Rate TSR for the applicable measurement period for the companies (other than the Company) listed in the NAREIT Hotel Index.

PERFORMANCE OBJECTIVES. 4.1 The Performance Plan (Annexure A) sets out- 4.1.1 the performance objectives and targets that must be met by the Employee; and 4.1.2 the time frames within which those performance objectives and targets must be met. 4.2 The performance objectives and targets reflected in Annexure A are set by the Employer in consultation with the Employee and based on the Integrated Development Plan and the Budget of the Employer, and shall include key objectives; key performance indicators; target dates and weightings. 4.3 The key objectives describe the main tasks that need to be done. The key performance indicators provide the details of the evidence that must be provided to show that a key objective has been achieved. The target dates describe the timeframe in which the work must be achieved. The weightings show the relative importance of the key objectives to each other. 4.4 The Employee’s performance will, in addition, be measured in terms of contributions to the goals and strategies set out in the Employer’s Integrated Development Plan.

PERFORMANCE OBJECTIVES. 4.1 The Performance Plan (Annexure A) sets out – 4.1.1 The performance objectives and targets that must be met by the Employee; 4.1.2 The timeframes within which those performance objectives and targets must be met; and 4.1.3 The competencies (Annexure B – definitions in terms of Regulation 21 of 17 January 2014) required to operate effectively as senior managers in the local government environment. 4.2 The performance objectives and targets reflected in Annexure A are set by the Employer in consultation with the Employee and based on the Integrated Development Plan, Service Delivery and Budget Implementation Plan (SDBIP) and the Budget of the Employer, and shall include: 4.2.1 Key objectives that describe the main tasks that need to be done; 4.2.2 Key performance indicators that provide the details of the evidence that must be provided to show that a key objective has been achieved by the employee; 4.2.3 Target dates that describe the timeframe in which the targets must be achieved; and 4.2.4 Weightings showing the relative importance of the key objectives to each other. 4.3 The Personal Development Plan (Annexure C) sets out the Employee’s personal development requirements in line with the objectives and targets of the Employer; and 4.4 The Employee’s performance will, in addition, be measured in terms of contributions to the goals and strategies set out in the Employer’s Integrated Development Plan.

PERFORMANCE OBJECTIVES. 4.1 The Performance Plan (Annexure A) sets out – 4.1.1 The performance objectives and targets that must be met by the Employee; and 4.1.2 The time frames within which those performance objectives and targets must be met. 4.2 The performance objectives and targets reflected in Annexure A are set by the Employer in consultation with the Employee and based on the Integrated Development Plan, Service Delivery and Budget Implementation Plan (SDBIP) and the Budget of the Employer, and shall include key objectives; key performance indicator target dates and weightings. . 4.3 The Employee’s performance will, in addition, be measured in terms of contributions to the goals and strategies set out in the Employer’s Integrated Development Plan.

PERFORMANCE OBJECTIVES. 4.1. The Performance Plan (Annexure A) sets out- 4.1.1. Key Performance Areas that the employee should focus on 4.1.2. Core competencies required from employees 4.1.3. The performance objectives, key performance indicators, projects and targets that must be met by the Employee 4.1.4. The time frames within which those performance objectives and targets must be met 4.2. The performance objectives, key performance indicators and targets reflected in Annexure A are set by the Employer in consultation with the Employee and based on the Integrated Development Plan, Service Delivery and Budget Implementation Plan (SDBIP) and the Budget of the Employer, and shall include strategic objectives; key performance indicators, targets, projects and activities that may include dates and weightings. A description of these elements follows: 4.2.1. The strategic objectives describe the strategic intent of the organisation that needs to be achieved 4.2.2. The performance indicators provide the measurement on how a strategic objective needs to be achieved 4.2.3. The target dates describe the timeframe in which the work must be achieved 4.2.4. The weightings show the relative importance of the key performance areas, key objectives, key performance indicators to each other 4.2.5. The activities are the actions to be achieved within a project

PERFORMANCE OBJECTIVES. 5.1 The performance plan contained in ANNEXURE A to this agreement sets out- (a) the performance objectives and targets which the Employee shall achieve during the current financial year; (b) the time frames within which those performance objectives and targets shall be met; and (c) the core competency requirements the Employee must acquire or possess and demonstrate. 5.2 The performance objectives and targets contained in ANNEXURE A are based on the Employer’s current integrated development plan, current service delivery and budget implementation plan and current budget. 5.3 Consistent with section 57(4A) of the Systems Act, the provisions of the Local Government: Municipal Finance Management ▇▇▇ ▇▇▇▇ (Act No 56 of 2003), including any regulations issued in terms of that Act, conferring responsibilities on the accounting officer of a municipality must be regarded as forming part of this agreement and the Employee’s performance plan contained in ANNEXURE A. 5.4 The mere fact that a particular function, power or duty conferred upon or assigned or delegated to the Employee is not contained in ANNEXURE A, does not release the Employee from the responsibility to perform such function, exercise such power and discharge such duty, as the case may be, to the best of his ability. The inclusion of a specific performance objective or performance target in the Employee’s performance plan does not replace, reduce, substitute or in any other manner interfere with the Employee’s obligation to perform the functions, exercise the powers and discharge the duties, as the case may be, which may have been conferred upon or assigned or delegated to him in any other manner. Nothing in this agreement diminishes the Employee’s obligations, duties or accountability in terms of his employment contract or existing or new regulations, circulars, policies, directives or other instruments.