ALLETE Executive Long-Term Incentive Plan Form of Cash Award Effective 2017 [CEO] 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 GoalsNet Income 25%Cash from Operating Activities25%Strategic & Operational Positioning Goals50%100% Portions Subject to 162(m)

EX-10.I4 4 exhibit10i412-31x2016.htm EXHIBIT 10.I4 Exhibit
Exhibit 10(i)4


ALLETE Executive Long-Term Incentive Plan
Form of Cash Award
Effective 2017
[CEO]

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
 
 
 
 
 
 
 
Net Income
25%
 
 
Cash from Operating Activities
 
25%
 
 
 
 
 
 
 
 
 
Strategic & Operational Positioning Goals
 
 
 
50%
 
 
 
 
 
 
 
100%
Portions Subject to 162(m)

Portions of this award are intended to qualify as performance-based compensation within the meaning of I.R.S. Code Section 162(m), namely , all amounts related to the Financial Goals and the objective Strategic & Operational Positioning Goals. Accordingly, those portions will be interpreted and administered consistent with Section 9.2 of the Long-Term Incentive Plan.

Compensation Subject to Compensation Recovery Policy

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