ALLETE Executive Annual Incentive Plan Form of Award Effective 2024
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.(E)8 3 exhibit10e812-31x2023.htm EX-10.(E)8 Document
Exhibit 10(e)8
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2024
[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 and 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.
