1. A method executed by a computer for evaluating noncompliance of a computing system with a service level agreement (SLA) for computing services, comprising: storing in a memory a model of the service level agreement, the model to include an SLA objective and a limitation on the SLA objective; generating an exemption rule based on the SLA objective and on the limitation on the SLA objective, the exemption rule to be generated before the computing system is monitored for an indicator of noncompliance with the SLA objective; identifying an SLA violation in the computing system that occurs while providing computing services under the SLA; and automatically applying the exemption rule to determine whether the SLA violation corresponds with the limitation on the SLA objective such that the SLA violation is exempted from a penalty.