CALPINE CORPORATION EXECUTIVE EMPLOYMENT AGREEMENTRelease Agreement • February 13th, 2014 • Calpine Corp • Electric services • Delaware
THIS AGREEMENT (this “Agreement”) is hereby entered into as of November 6, 2013, by and between Calpine Corporation (the “Company”) and John B. Hill (“Executive”) (hereinafter collectively referred to as “the parties”). This Agreement shall be effective immediately following the Company’s 2014 annual meeting of stockholders (the date of such meeting, the “Effective Date”), provided that Executive is still an employee of the Company at such time. Upon the Effective Date, this Agreement shall replace and supersede that certain Letter Agreement between the Company and Executive dated as of September 1, 2008 and amended as of December 21, 2012 (the “Prior Agreement”). If Executive’s employment with the Company terminates for any reason prior to the Effective Date, this Agreement shall be null and void ab initio.
