Form of ALLETE Executive Annual Incentive Plan Form of Awards Effective 2010
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.H3 5 exhibit_10h3.htm ALLETE EXECUTIVE ANNUAL INCENTIVE PLAN exhibit_10h3.htm
Exhibit 10(h)3
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2010
[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% | |||||||
