ALLETEExecutive Annual Incentive Plan Formof Award Effective2009 [EligibleExecutive Employees] Target AwardOpportunity Base Salary $ Times Award Opportunity (percent of base salary) % Equals Target Award $ Performance Levels and AwardAmounts
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.H7 5 exhibit_10h7.htm ALLETE EXECUTIVE ANNUAL INCENTIVE PLAN exhibit_10h7.htm
Exhibit 10(h)7
ALLETE 2008 Form 10-K
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2009
[Eligible Executive Employees]
Target Award Opportunity
| Base Salary | $ |
| Times | |
| Award Opportunity (percent of base salary) | % |
| Equals | |
| Target Award | $ |
Performance Levels and Award Amounts
| If Threshold Net Income Achieved | If Threshold Net Income Not Achieved | ||||||||
| Below Threshold | Threshold | Target | Superior | Below Threshold | Threshold | Target | Superior | ||
| Net Income | 0% | 25% | 50% | 100% | 0% | 0% | 0% | 0% | |
| Cash Flow | 0% | 12.5% | 25% | 50% | 0% | 12.5% | 25% | 50% | |
| Strategic Goals | 0% | 0% | 25% | 50% | 0% | 0% | 0% | 0% | |
| Payout as Percent of Target Award Opportunity | 0% | 37.5% | 100% | 200% | 0% | 12.5% | 25% | 50% | |
Goals
| Goal | ||||||
| Weighting | ||||||
| Financial Goals | ||||||
| Net Income | 50% | |||||
| Cash from Operating Activities | 25% | |||||
| Strategic Goals | 25% | |||||
| 100% | ||||||
