PetroChina Co. Ltd. Contracts
Sample Business Contracts
Performance Contract - PetroChina Co. Ltd. and Guoliang Wang
Employment Forms
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YEAR 2003 PERFORMANCE CONTRACT WITH CFO OF PETROCHINA COMPANY LIMITED
<TABLE>
<S> <C> <C>
Offeree: Name: WANG, Guoliang Offeror: Name: CHEN, Geng Term of the Contract: January 1, 2003 to
December 31, 2003
Title: Vice President of PetroChina Company Limited Title: President of PetroChina
("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 invested 30% % 8.38
capital of PetroChina (ROIC)
Net income of PetroChina (NI) 15% In million RMB 34,280
Free cash flow of PetroChina 15% In million RMB 3,880
(FCF)
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Operating Indices Cost for capital raising 10% In million RMB 5% or more lower
than the base
interest rate as
stipulated by
the State
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Receivables 15% % Per Shiyoucaizi
[2001] 311
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Balance of RMB deposits 5% In million RMB 14,000
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Performance rate of the 10% % 100
financial Budget indices
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Indices to Be Put under Safety rate of capital No case involving capital loss exceeding Comprehensive
Control operation RMB500,000 performance expressed
in marks to be reduced
by 5 marks if
exceeding target of
the index put under
control.
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</TABLE>
Signature of Offeree: /s/ WANG GUOLIANG Signature of Offeror: /s/ CHEN GENG
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