Cap. 10:31 23 PuBuc E"<11TIES CoRPORATE GovERt·<ANcE No. 4/2018 Performance contracts with senior staff of public entities (1) Upon the appointment of a person as chief executive officer or senior staff member of a public entity, the board of the entity shall require him or her to enter into a written performance contract with the board, in accordance with this section. (2) A perfonnance contract shall(a) if applicable, contain provisions relating to any matter affecting the efficient performance of the person's duties respecting the public entity concerned; and (b) contain provisions(i) specifying key performance indicators by which the person's performance will be measured; and (ii) prescribing the penalties, including dismissal, suspension and forfeiture of remuneration or other benefits, to be incurred if the person fails to perfonn his or her duties efficiently in accordance with the contract; and (iii) requiring the person's performance to be evaluated by the board of the entity concemed- A. at least once every six months, in the case of a chief executive officer; B. at such intervals as may be prescribed, in the case of any other senior staff member. (3) Notwithstanding any other enactment, a person shall not assume office as chief executive officer or senior staff member of a public entity unless he or she has entered into a performance contract in terms of this section. (4) The board of a public entity must without delay transm.it(a) to the head of the line :Ministry a copy of the performance contract with the chief executive officer and a copy of every performance contract with a senior staff member; (b) to the Unit a copy of the performance contract with the chief executive officer. (5) Nothing in this section shall be constmed as preventing the board of a public entity from entering into perfonnance contracts with employees who are not senior staff members. 24 Review and monitoring of compliance with strategic plans and performance contracts (l) In this section "review", in relation to- (a) a strategic plan, means an evaluation of the degree of compliance and progress (if any) achieved towards attaining the objectives of its strategic plan during the previous year; (b) a perfiJnnance contract, means an annual appraisal of the perfonnance of an individual senior staff member who is a party to such contract, as measured against specified key perfommnce indicators and any other benchmarks approved by the Unit. (2) The board of every public entity shall annually review its current strategic plan and every current performance contract with senior staff members of such entity, and report the results of its review to the line Minister and the Minister. 95