EX-10.(E)9 4 exhibit10e912-31x2023.htm EX-10.(E)9
Exhibit 10(e)9
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2024
[Eligible ALLETE Clean Energy 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 | 50% | $
Below Threshold | 0% | $

Goals

|  |  |  |  |  |  | Goal
|  |  |  |  |  |  | Weighting
| Financial Goals |  |  |  |  |
|  | ALLETE Net Income | 15%
|  | ALLETE Clean Energy Net Income |  | 45%
| Strategic and Operational & Values Goals |  |  |  | 40%
|  |  |  |  |  |  | 100%

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