PetroChina Co. Ltd. Contracts
Sample Business Contracts
Performance Contract - PetroChina Co. Ltd. and Geng Chen
Employment Forms
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YEAR 2003 PERFORMANCE CONTRACT WITH PRESIDENT OF PETROCHINA COMPANY LIMITED
<TABLE>
<S> <C> <C>
Offeree: Name: CHEN, Geng Offeror: Name: MA, Fucai Term of the Contract: January 1, 2003 to
December 31, 2003
Title: President of PetroChina Company Limited Title: Chairman of the Board of
("PetroChina") Directors of PetroChina Date of Execution: January 18, 2003
</TABLE>
<TABLE>
<CAPTION>
INDICES KEY PERFORMANCE INDICES WEIGHT MEASUREMENT TARGET ACTUAL
(KPI) PERFORMANCE
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<S> <C> <C> <C> <C> <C>
Profits Indices Rate of return of the 40% % 8.38
invested capital of
PetroChina (ROIC)
Net income of PetroChina 20% In million RMB 34,280
(NI)
Free cash flow of 15% In million RMB 3,880
PetroChina (FCF)
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Operating Indices Sales revenue per capita 10% In thousand RMB/person 501,9
Rate of reserves 10% % 102
replacement
Performance indices
fulfillment rate for HR, 5% % 100
supervision and audit
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Indices to Be Put Total number of employees < or = 420,000 Comprehensive
under Control performance
expressed in marks
to be reduced
Safety Accidents involving death by 10 marks if
< or = 0.05 persons/million man-hours exceeding target of
the index put
under control.
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