ALLETE Executive Annual Incentive Plan Form of Award Effective 2013 [Eligible 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 AmountSuperior200%$Target100%$Threshold37.5%$Below Threshold%$ Goals GoalWeightingFinancial GoalsNet Income50%Cash from Operating Activities25%Strategic & Operational Positioning Goals25%100% Compensation Subject to Compensation Recovery Policy
EX-10.(F)5 2 ex10f512-31x2012.htm EXEC ANNUAL INCENTIVE PLAN FORM OF AWARD Exhibit 10(f)5 12-31-2012
Exhibit 10(f)5
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2013
[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 | —% | $ |
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.
