ALLETE Executive Annual Incentive Plan Form of Award (Effective 2015)

Summary

This agreement outlines the terms of the ALLETE Executive Annual Incentive Plan for eligible executive employees, effective in 2015. It specifies how annual incentive awards are calculated based on a percentage of base salary and performance against set financial and strategic goals. Award payouts vary depending on performance levels, with specific percentages for superior, target, threshold, and below-threshold results. The plan also states that any compensation awarded is subject to the company's Compensation Recovery policy, allowing for recoupment under certain conditions.

EX-10.E6 2 exhibit10e612-31x2014.htm EXHIBIT 10.E6 Exhibit 10(e)6 12-31-2014

Exhibit 10(e)6

ALLETE Executive Annual Incentive Plan

Form of Award

Effective 2015

[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	37.5%	$
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

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