EX-10 2 rexhibit10.txt DIRECTOR COMPENSATION SUMMARY EXHIBIT 10 ALLETE, INC. Director Compensation
-------------------------------------------------------------------------------- EFFECTIVE MAY 1, 2005 ---------------------------------------------------------------------- BOARD RETAINERS Cash $23,500 Stock $47,500 ---------------------------------------------------------------------- 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/NON-EMPLOYEE CHAIRMAN RETAINER Cash $73,000 Stock $47,500 ---------------------------------------------------------------------- Cash retainers may be deferred under the Director Compensation Deferral Plan. Cash retainers may be elected to be received in ALLETE stock. Represents total compensation for Lead Director/Non-Employee Chairman. Not eligible for other committee or chair retainers.