Torino have started the season in good form, having lost just one of their seven Serie A matches, and they are currently sitting sixth in the table, four points behind Lazio who hold the final Champions League spot.
Reports have suggested Mihajlovic, whose current deal runs out at the end of the 2017/18 campaign, is set for a renewal following his performance as manager since taking charge last year.
However, Cairo has rubbished these claims and revealed the only way the 48-year-old, who has previously managed Serbia and Milan amongst others, would get an early extension was if he managed to hit one of the pre-agreed goals.
"We have a contract with him until 2018, with a series of performance-related clauses," he explained to Tuttomercatoweb. "If we reach Europe, the renewal will be automatic, we’ll talk but right now he’s focused on the European goal."