EX-10.L4 7 exhibit10l412-31x2013.htm EXHIBIT 10L4
Exhibit 10(l)4
ALLETE, INC.
Non-Employee Director Compensation
Effective January 1, 2014

Board Retainers (1) (2) Stock Cash | $65,000 $50,000
Committee Cash Retainers (1) (2) Audit Executive Compensation Corporate Governance & Nominating | $9,000 $7,500 $7,500
Chair Cash Retainers (1) (2) Audit Executive Compensation Corporate Governance & Nominating | $10,000 $7,500 $5,000

Lead Director (1) (2) (3) Board Stock Retainer Board Cash Retainer Lead Director Cash Retainer | $65,000 $50,000 $25,000

Board Chairman (1) (2) (3) Board Stock Retainer Board Cash Retainer | $90,000 $85,000

(1) | Cash and stock retainers may be deferred under the Director Compensation Deferral Plan II.

(2) | Cash retainers may be elected to be received in ALLETE stock.

(3) | Lead Director and Board Chairman are not eligible for other committee or chair retainers.