0000916457-07-000134 Sample Contracts

August 31, 2007
Severance Agreement • November 7th, 2007 • Calpine Corp • Electric services • California

As you are aware, your employment with Calpine will end effective August 31, 2007 as a result of restructuring activities (“Qualifying Event”). This letter agreement (the “Agreement”) confirms the terms of your separation from employment with Calpine Corporation, a Delaware corporation or one or more of its subsidiaries (collectively, “Calpine”) and offers you the following benefits in exchange for a release of all claims.

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AMENDED AND RESTATED EMPLOYMENT AGREEMENT
Employment Agreement • November 7th, 2007 • Calpine Corp • Electric services • New York

This Amended and Restated Employment Agreement (the “Agreement”) is entered into effective as of October 10, 2007, between CALPINE CORPORATION, a Delaware corporation (the “Company”), and ROBERT P. MAY (“Executive”) to provide the terms and conditions for Executive’s employment with the Company and its affiliates from time to time (together, the “Group”).

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