ALLETE Executive Annual Incentive Plan Form of Award Effective 2012 [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 Income Attributable to ALLETE50%Cash from Operating Activities25%Strategic & Operational Positioning Goals25%100% Compensation Subject to Compensation Recovery Policy
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.(H)4 2 exhibit10h412-31x2011.htm ALLETE EXECUTIVE ANNUAL INCENTIVE PLAN FORM OF AWARDS EFFECTIVE 2012 Exhibit 10(h)4 12-31-2011
Exhibit 10(h)4
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2012
[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 Attributable to ALLETE | 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.
