ALLETE Executive Annual Incentive Plan Form of Award Superior Water, Light and Power Effective 2018
EX-10.(A)2 4 ale3-31x2018exx10a2.htm EXHIBIT 10.(A)2 Exhibit
Exhibit 10(a)2
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2018
[Eligible Superior Water, Light and Power 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 | 37.5% | $ |
Below Threshold | 0% | $ |
Goals
Goal | ||||||||
Weighting | ||||||||
Financial Goals | ||||||||
ALLETE Net Income | 15% | |||||||
Superior Water Light & Power Net Income | 55% | |||||||
Strategic & Operational Positioning Goals | 30% | |||||||
100% |
Compensation Subject to Compensation Recovery Policy
Annual Incentive Plan Compensation is subject to recoupment as defined in the Compensation Recovery policy.