EX-10.(E)8 2 exhibit10e812-31x2022.htm EX-10.(E)8 Document
                                                 Exhibit 10(e)8
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2023
[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 LevelPayout as Percent of
Target Award
Award Amount
Superior200% $
Target100% $
Threshold44%$
Below Threshold0% $


Goals
Goal
Weighting
Financial Goals
Net Income 50%
Cash from Operating Activities20%
Strategic & Operational & Values Goals30%
100%

Compensation Subject to Compensation Recovery Policy

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