EX-10.E7 3 exhibit10e712-31x2018.htm EXHIBIT 10.E7
Exhibit 10(e)7
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2019
[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 | 45% | $
Below Threshold | 0% | $

Goals

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

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