Document:

Letter dated February 11, 2008 (Mr. May)

 Exhibit 10.6.14.3 
 February 11, 2008 
 Thomas May 
 717 Texas Ave 
 Houston, TX 77002 
 Dear Mr. May:

 As you are aware, on May 15, 2006, Calpine Corporation (“Calpine”) and its debtor affiliates (collectively, the
“Debtors”) received Bankruptcy Court approval of the Emergence Incentive Plan (the “EIP”), which provides variable cash awards to approximately select senior employees. Pursuant to the terms of the EIP, an incentive pool will be
created according to certain metrics related to the valuation of Calpine both under the Debtors’ plan of reorganization and based on market value during a certain period after the effective date of the plan (the “EIP Pool”), which,
once created will be distributed to eligible employees solely at my discretion as chief executive of Calpine. 
 As communicated to you
earlier, you have been chosen to be a participant in the EIP. This letter confirms my final intentions regarding distribution under the EIP. Accordingly, as of the date hereof, you are eligible to receive 3.50% of the EIP Pool once the EIP Pool is
funded. 
 This proposed distribution percentage is a final and binding decision and cannot be altered except in the event that you are
terminated by Calpine for “Cause” or you voluntarily terminate without “Good Reason”, in which case you will forfeit any right to any distribution from the EIP Pool. You will remain eligible to receive the proposed distribution
set forth herein if you resign for “Good Cause” or are terminated without “Cause”. The distribution out of the EIP Pool is expected to be made around May 9, 2008. 
 I believe the Emergence Incentive plan recognizes and rewards our efforts toward a successful exit from bankruptcy. Fortunately for all of us, our
combined efforts created a higher than expected adjusted enterprise value which will result in payments from the EIP that are more than competitive. 
 I look forward to our continued shared success. Should you have any questions regarding the foregoing, please do not hesitate to contact me. 
 Sincerely, 
 /s/ Robert P. May 
 Robert P. May 
 Chief Executive OfficerLetter dated February 11, 2008 (Mr. Doody)

 Exhibit 10.6.15.3 
  

					
	 

	  		  	717 Texas Avenue Suite 1000
 Houston, Texas 77002
 713-830-2000

 February 11, 2008 
 Mr. Gregory Doody 
 717 Texas Avenue 
 Houston,
Texas 77002 
 Dear: Mr. Doody 
 As you are
aware, on May 15, 2006, Calpine Corporation (“Calpine”) and its debtor affiliates (collectively, the “Debtors”) received Bankruptcy Court approval of the Emergence Incentive Plan (the “EIP”), which provides
variable cash awards to approximately select senior employees. Pursuant to the terms of the EIP, an incentive pool will be created according to certain metrics related to the valuation of Calpine both under the Debtors’ plan of reorganization
and based on market value during a certain period after the effective date of the plan (the “EIP Pool”), which, once created will be distributed to eligible employees solely at my discretion as chief executive of Calpine. 
 As communicated to you earlier, you have been chosen to be a participant in the EIP. This letter confirms my final intentions regarding distribution
under the EIP. Accordingly, as of the date hereof, you are eligible to receive 8.6% of the Executive EIP Pool and 75.4% of the Chief Risk Officer Pool once the EIP Pools are funded. 
 This proposed distribution percentage is a final and binding decision and cannot be altered except in the event that you are terminated by Calpine for
“Cause” or you voluntarily terminate without “Good Reason”, in which case you will forfeit any right to any distribution from the EIP Pool. You will remain eligible to receive the proposed distribution set forth herein if you
resign for “Good Cause” or are terminated without “Cause”. The distribution out of the EIP Pool is expected to be made around May 9, 2008. 
 I believe the Emergence Incentive plan recognizes and rewards our efforts toward a successful exit from bankruptcy. Fortunately for all of us, our combined efforts created a higher than expected adjusted enterprise
value which will result in payments from the EIP that are more than competitive. 
 I look forward to our continued shared success. Should
you have any questions regarding the foregoing, please do not hesitate to contact me. 
 Sincerely, 
 /s/ Robert P. May 
 Robert P. May 
 Chief Executive OfficerLetter dated September 20, 2007 (Mr. Rogers)

 Exhibit 10.6.16.1 
 September 20, 2007 
 Mr. Michael Rogers 
 Calpine Corporation 
 717 Texas Avenue 
 Houston, TX 77002 
 Re: Calpine Emergence Compensation 
 Dear Mike: 
 As you may be aware, on May 15, 2006, Calpine Corporation (“Calpine”) and its debtor affiliates
(collectively, the “Debtors”) received Bankruptcy Court approval of the Emergence Incentive Plan (the “EIP”), which provides variable cash awards to approximately twenty select senior employees. Pursuant to the terms of the EIP,
an incentive pool will be created according to certain metrics related to the valuation of Calpine both under the Debtors’ plan of reorganization and based on market value during a certain period after the effective date of the plan (the
“EIP Pool”), which, once created, will be distributed to eligible employees solely at my discretion as chief executive officer of Calpine. 
 This letter is intended to serve as notice to you that you have been chosen to be a participant in the EIP. This letter is further intended to set forth my intentions regarding distributions under the EIP.
Accordingly, as of the date hereof, you are eligible to receive a minimum of 6% of the EIP Pool so long as the EIP Pool is funded. The actual percentage of the EIP Pool that is ultimately paid out could be greater. 
 This proposed distribution percentage is a final and binding decision and cannot be altered except in the event that you are terminated by Calpine for
“Cause” or you voluntarily terminate without “Good Reason” (as each of such terms are defined on Exhibit A attached hereto), in which case you will forfeit any right to any distribution from the EIP Pool. You will
remain eligible to receive the proposed distribution set forth herein if you resign for “Good Cause” or are terminated without “Cause,” as those terms are defined in your employment agreement, to the extent you have an employment
agreement. Any distribution out of the EIP Pool will be made during the 2008 calendar year. 
 Additionally, we have recommended that you
participate in two equity grants that we intend to make upon our emergence from bankruptcy – assuming of course that we emerge from bankruptcy as a publicly traded company. The first grant will be a normal annual grant and the second grant will
be a one-time emergence grant. The specific terms and conditions of the grants – vesting criteria, treatment of unvested equity in various termination scenarios, etc. remain subject to the consent of our Official Committee of Unsecured
Creditors (the “OCUC”). 

 
Therefore, your participation is not yet finalized and is contingent upon approval of our overall management equity plan by the OCUC. With that said, the
amounts below have been approved by the Board of Directors; however, they remain subject to the consent of the OCUC. 
  

							
	 Annual Grant Shares
	  	16,500 = 70% Stock Options/30% Restricted Stock	  		  	
				
	 Emergence Grant Shares
	  	36,300 = 25% Stock Options/75% Restricted Stock	  		  	

 I believe the Emergence Incentive Plan allows Calpine to recognize and reward your efforts toward
a successful exit from bankruptcy in amounts that are more than competitive. I also believe the equity grants upon our emergence appropriately positions you to significantly share in the future success of the company. 
 I look forward to our continued shared success. Should you have any questions regarding the foregoing, please do not hesitate to contact me. 

Sincerely, 
 /s/ Robert P. May 
 Robert P. May 
 Chief Executive OfficerLetter dated February 11, 2008 (Mr. Rogers)

 Exhibit 10.6.16.2 
 February 11, 2008 
 Mike Rogers 
 717 Texas Ave 
 Houston, TX 77002 
 Dear
Mr. Rogers: 
 As you are aware, on May 15, 2006, Calpine Corporation (“Calpine”) and its debtor affiliates
(collectively, the “Debtors”) received Bankruptcy Court approval of the Emergence Incentive Plan (the “EIP”), which provides variable cash awards to approximately select senior employees. Pursuant to the terms of the EIP, an
incentive pool will be created according to certain metrics related to the valuation of Calpine both under the Debtors’ plan of reorganization and based on market value during a certain period after the effective date of the plan (the “EIP
Pool”), which, once created will be distributed to eligible employees solely at my discretion as chief executive of Calpine. 
 As
communicated to you earlier, you have been chosen to be a participant in the EIP. This letter confirms my final intentions regarding distribution under the EIP. Accordingly, as of the date hereof, you are eligible to receive 6.50% of the EIP Pool
once the EIP Pool is funded. 
 This proposed distribution percentage is a final and binding decision and cannot be altered except in the
event that you are terminated by Calpine for “Cause” or you voluntarily terminate without “Good Reason”, in which case you will forfeit any right to any distribution from the EIP Pool. You will remain eligible to receive the
proposed distribution set forth herein if you resign for “Good Cause” or are terminated without “Cause”. The distribution out of the EIP Pool is expected to be made around May 9, 2008. 
 I believe the Emergence Incentive plan recognizes and rewards our efforts toward a successful exit from bankruptcy. Fortunately for all of us, our
combined efforts created a higher than expected adjusted enterprise value which will result in payments from the EIP that are more than competitive. 
 I look forward to our continued shared success. Should you have any questions regarding the foregoing, please do not hesitate to contact me. 
 Sincerely, 
 /s/ Robert P. May 
 Robert P. May 
 Chief Executive Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00137-of-00352.parquet"}]]