ALLETE Executive Annual Incentive Plan Form of Award Effective 2011 [Eligible Executive Employees] Target Award Opportunity

Contract Categories: Human Resources - Bonus & Incentive Agreements
EX-10.H4 3 exhibit_10h4.htm ALLETE EXECUTIVE ANNUAL INCENTIVE PLAN FORM OF AWARD EFFECTIVE 2011 exhibit_10h4.htm
Exhibit 10(h)4
 
 
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2011
[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 from Continuing Operations
50%
   
Cash from Operating Activities
  
25%
               
 
Strategic Goals
      
  25% 
             
100%

Compensation Subject to Compensation Recovery Policy

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