ALLETE, Inc. Non-Management Director Compensation Schedule Effective January 1, 2012

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-management directors of ALLETE, Inc. effective January 1, 2012. It specifies annual retainers paid in cash and stock for board and committee service, as well as additional compensation for committee chairs, the Lead Director, and the Board Chairman. Directors may defer compensation or elect to receive cash retainers in company stock. The Lead Director and Board Chairman are not eligible for other committee or chair retainers.

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EX-10.(N)10 5 exhibit10n1012-31x2011.htm ALLETE NON-MANAGEMENT DIRECTOR COMPENSATION EFFECTIVE JANUARY 2012 Exhibit 10(n)10 12-31-2011


Exhibit 10(n)10




ALLETE, INC.
Non-Management Director Compensation
Effective January 1, 2012
    
             
Board Retainers (1) (2)
Stock
Cash

$60,000
$45,000
Committee Cash Retainers (1) (2)
Audit
Executive Compensation
Corporate Governance & Nominating

$9,000
$7,500
$7,500
Chair Cash Retainers (1) (2)
Audit
Executive Compensation
Corporate Governance & Nominating

$8,500
$5,500
$4,500

Lead Director (1) (2) (3)
Board Stock Retainer
Board Cash Retainer
Lead Director Cash Retainer

$60,000
$45,000
$25,000

Board Chairman (1) (2) (3)
Board Stock Retainer
Board Cash Retainer

$90,000
$85,000

(1) Cash and stock retainers may be deferred under the Director Compensation Deferral Plan II.
(2) Cash retainers may be elected to be received in ALLETE stock.
(3) Lead Director and Board Chairman are not eligible for other committee or chair retainers.