EX-10.(A)2 4 ale3-31x2018exx10a2.htm EXHIBIT 10.(A)2
Exhibit 10(a)2
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2018
[Eligible Superior Water, Light and Power 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 | 0% | $

Goals

|  |  |  |  |  |  | Goal
|  |  |  |  |  |  | Weighting
| Financial Goals |  |  |  |  |
|  | ALLETE Net Income | 15%
|  | Superior Water Light & Power Net Income |  | 55%
| Strategic & Operational Positioning Goals |  |  |  | 30%
|  |  |  |  |  |  | 100%

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