ALLETE Executive Annual Incentive Plan Form of Award Effective 2017 [Eligible Superior Water, Light and Power Executive Employees] Target Award Opportunity Base Salary$TimesAward Opportunity (percent of base salary)%EqualsTarget Award $ Performance Levels and Award Amounts Goal Performance LevelPayout as Percent of Target AwardAward Amount Superior200% $Target100% $Threshold37.5% $Below Threshold0% $ Goals GoalWeightingFinancial GoalsALLETE Net Income20%Superior Water Light & Power Net Income55%Strategic & Operational Positioning Goals25%100% Compensation Subject to Compensation Recovery Policy

EX-10.E7 3 exhibit10e712-31x2016.htm EXHIBIT 10.E7 Exhibit
Exhibit 10(e)7


ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2017
[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
20%
 
 
Superior Water Light & Power Net Income
 
55%
 
 
 
 
 
 
 
 
 
Strategic & Operational Positioning Goals
 
 
 
25%
 
 
 
 
 
 
 
100%

Compensation Subject to Compensation Recovery Policy

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