Form of ALLETE Executive Long-Term Incentive Compensation Plan Cash Award Effective 2018

EX-10.(B) 5 ale3-31x2018exx10b.htm EXHIBIT 10.(B) Exhibit
Exhibit 10(b)



ALLETE Executive Long-Term Incentive Plan
Form of Cash Award
Effective 2018
[CEO and CFO]

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
45%
$
Below Threshold
0%
$

Goals

 
 
 
 
 
 
 
Goal
 
 
 
 
 
 
 
Weighting
 
Financial Goals
 
 
 
 
 
 
 
Net Income
50%
 
 
Cash from Operating Activities
 
25%
 
 
 
 
 
 
 
 
 
Strategic & Operational Positioning Goals
 
 
 
  25% 
 
 
 
 
 
 
 
100%


Compensation Subject to Compensation Recovery Policy

Long-Term Incentive Plan compensation is subject to recoupment as defined in the Compensation Recovery policy.