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Exhibit 10(e)9
ALLETE Executive Annual Incentive Plan
Form of Award
Effective 2023
[Eligible ALLETE Clean Energy 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 | 50% | $ | ||||||
Below Threshold | 0% | $ |
Goals
Goal | ||||||||||||||||||||||||||
Weighting | ||||||||||||||||||||||||||
Financial Goals | ||||||||||||||||||||||||||
ALLETE Net Income | 15% | |||||||||||||||||||||||||
ALLETE Clean Energy Net Income | 45% | |||||||||||||||||||||||||
Strategic and Operational & Values Goals | 40% | |||||||||||||||||||||||||
100% |
Compensation Subject to Compensation Recovery Policy
Annual Incentive Plan Compensation is subject to recoupment as defined in the Compensation Recovery policy.