EX-10.K3 7 exhibit10k312-31x2018.htm EXHIBIT 10.K3
Exhibit 10(k)3
ALLETE, INC.
Non-Employee Director Compensation
Effective January 1, 2019

Board Retainers (1) (2) Stock Cash | $80,850 $65,100
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 | $80,850 $65,100 $40,000

(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 is not eligible for other committee or chair retainers.