ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2022
[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 | 44% | $ |
| Below Threshold | 0% | $ |
Goals
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | Goal |
| | | | | | | Weighting |
| Financial Goals | | | | | |
| | Net Income | 50% |
| | Cash from Operating Activities | | 20% |
| | | | | | | |
| Strategic & Operational & Values Goals | | | | 30% |
| | | | | | | 100% |
Compensation Subject to Compensation Recovery Policy
Annual Incentive Plan Compensation is subject to recoupment as defined in the Compensation Recovery policy.