This article studies the performance guaranteed tracking control problem for one-sided Lipschitz (OSL) multiagent systems (MASs) with unknown actuator faults under jointly observable condition (JOC). Unlike the recent results where the state or output information of the leader should be known to its neighbors, only partial output information of the leader can be obtained by its neighbors under JOC in this article. One challenge focuses on the distributed observer design with OSL dynamics under JOC. The studied problem is proceeded in two steps. Firstly, to deal with the difficulty caused by OSL dynamics, an error decomposition technique is used to design the distributed observer. Secondly, based on this observer, a distributed adaptive fault-tolerant protocol with guaranteed performance is designed to realize tracking task. Note that unlike the existing ideas, actuator faults of an agent will not have effect on the dynamics of its neighbors over the communication graph in this article. Simulation results illustrate the developed algorithm.