EX-10.(H)4 2 exhibit10h412-31x2011.htm ALLETE EXECUTIVE ANNUAL INCENTIVE PLAN FORM OF AWARDS EFFECTIVE 2012
Exhibit 10(h)4
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2012
[Eligible Executive Employees]
Target Award Opportunity

Base Salary | $
Times |
Award Opportunity (percent of base salary) | %
Equals |
Target Award | $

Performance Levels and Award Amounts

Goal Performance Level | Payout as Percent of Target Award | Award Amount
Superior | 200% | $
Target | 100% | $
Threshold | 37.5% | $
Below Threshold | —% | $

Goals

|  |  |  |  |  |  | Goal
|  |  |  |  |  |  | Weighting
| Financial Goals |  |  |  |  |
|  | Net Income Attributable to ALLETE | 50%
|  | Cash from Operating Activities |  | 25%
| Strategic & Operational Positioning Goals |  |  |  | 25%
|  |  |  |  |  |  | 100%

Compensation Subject to Compensation Recovery Policy
Annual Incentive Plan Compensation is subject to recoupment as defined in the Compensation Recovery policy.