EX-10.(B) 5 ale3-31x2018exx10b.htm EXHIBIT 10.(B)
Exhibit 10(b)
ALLETE Executive Long-Term Incentive Plan
Form of Cash Award
Effective 2018
[CEO and CFO]
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 | 45% | $
Below Threshold | 0% | $

Goals

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

Compensation Subject to Compensation Recovery Policy
Long-Term Incentive Plan compensation is subject to recoupment as defined in the Compensation Recovery policy.