Is linking student feedback forms to individual lecturers' pay a means of enhancing teaching excellence or a disastrous prospect?

I think if we put ourselves in the shoes of the teachers, our answers will differ from if we were outsiders, research in this area shows that students judge lecturing and teacher’s performances not just based on content and academic values but also based on personal feelings, race, grudges and gender.
In my opinion, it’s a disastrous choice to put the teachers’ pay in the hands of the students, because students don’t really understand the value and the impact of their feedback, specially spoiled kids, who has protective powerful parents.
Teachers will start losing jobs at this point because their destiny is in the hands of their students. Most teachers would agree to have less salaries with more job security, better benefits, adequate materials and facilities, and being legalized to do what they were trained to do and teach, using up to date, proven methods, instead of being under the pressure of having some kid control their pay check.

a. Specify realistic and measurable performance criteria or performance indicators.

1. To me the biggest performance indicator is what have the students learned from the class, however am not talking about the entire student but the majority of them, because some students, no matter how much effort you put into teaching them, still they don’t learn anything.
2. Teacher’s preparation and knowledge.
3. Students attendance and motivation during the class
4. Students’ interaction and communication.

b. Identify who should measure performance against the criteria/indicators you have specified and how this should be done.

1. I found out that after every lecture a small; quiz or test can measure what the students have learned, these test will be given by their teachers and can be