ALLETE, Inc. Non-Management Director Compensation Summary Effective February 15, 2007

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-management directors of ALLETE, Inc. as of February 15, 2007. Directors receive annual retainers in both stock and cash, with additional cash retainers for serving on or chairing specific committees. The Lead Director receives higher compensation but is not eligible for other committee or chair retainers. Directors may defer cash payments or elect to receive them in company stock under the Director Compensation Deferral Plan.

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EX-10.N.6 12 rexhibit10n6.txt NON-MGMT DIRECTOR COMP SUMMARY EFFECTIVE 02-15-07 EXHIBIT 10(n)6 ALLETE 2006 FORM 10-K ALLETE, INC. NON-MANAGEMENT DIRECTOR COMPENSATION EFFECTIVE FEBRUARY 15, 2007
- -------------------------------------------------------------------------------- ----------------------------------------------------------------------- BOARD RETAINERS Stock $60,000 Cash $30,000 ----------------------------------------------------------------------- COMMITTEE CASH RETAINERS Audit $9,000 Executive Compensation $7,500 Corporate Governance & Nominating $7,500 ----------------------------------------------------------------------- CHAIR CASH RETAINERS Audit $8,500 Executive Compensation $5,500 Corporate Governance & Nominating $4,500 ----------------------------------------------------------------------- ----------------------------------------------------------------------- LEAD DIRECTOR Board Stock Retainer $60,000 Board Cash Retainer $30,000 Lead Director Cash Retainer $25,000 ----------------------------------------------------------------------- Cash retainers may be deferred under the Director Compensation Deferral Plan. Cash retainers may be elected to be received in ALLETE stock. Lead Director is not eligible for other committee or chair retainers.