Document:

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                                                                     EXHIBIT 4.4

                      REMOVAL AND APPOINTMENT OF TRUSTEES
                          OF CALPINE CAPITAL TRUST III

         This Removal and Appointment of Trustees of Calpine Capital Trust III
(the "Trust") is made as of July 19, 2000 (this "Appointment"), by Calpine
Corporation, a Delaware corporation, as Depositor (the "Depositor"). By this
document, the Depositor removes The Bank of New York as the Trust's Property
Trustee and The Bank of New York (Delaware) as the Trust's Delaware Trustee
(hereafter collectively the "Removed Trustees") and appoints Wilmington Trust
Company as the Trust's Property Trustee and Delaware Trustee.

         WHEREAS, the Trust was created pursuant to the filing of a Certificate
of Trust of the Trust with the Delaware Secretary of State on June 28, 2000, and
by the entering into of a Declaration of Trust of the Trust, dated as of June
28, 2000 (the "Declaration");

         WHEREAS, under the Declaration, the Removed Trustees are trustees of
the Trust;

         WHEREAS, the Depositor desires to remove the Removed Trustees as
trustees of the Trust and to appoint the Wilmington Trust Company as the
Property Trustee and the Delaware Trustee of the Trust; and

         WHEREAS, the Wilmington Trust Company desires to become such trustees
of the Trust and, immediately following such appointment, the Removed Trustees
shall be deemed removed as trustees of the Trust.

         NOW, THEREFORE, in consideration of the mutual promises and obligations
contained herein, the parties, intending to be legally bound, hereby agree as
follows:

         1. Pursuant to Section 3.1 of the Declaration, the Depositor hereby
appoints the Wilmington Trust Company as the Property Trustee and Delaware
Trustee of the Trust. The Wilmington Trust Company hereby accepts such
appointments and agrees to be the Property Trustee and the Delaware Trustee of
the Trust pursuant to the Declaration.
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         2. Immediately following the appointment by the Depositor of the
Wilmington Trust Company as such trustees of the Trust pursuant to Section 1
hereof, the Depositor hereby removes the Removed Trustees as trustees of the
Trust. The Removed Trustee's removal shall be deemed effective immediately
following the appointment by the Depositor of the Wilmington Trust Company as
trustees of the Trust pursuant to Section 1 hereof.

         3. All references in the Declaration to the term Property Trustee and
Delaware Trustee are deemed to refer to the Wilmington Trust Company.

         4. This Appointment may be executed in one or more counterparts.

         5. Except to the extent that it is expressly modified by this
Appointment, the Declaration shall continue in full force and effect.

         6. This Appointment shall be governed by, and construed in accordance
with, the laws of the State of Delaware (without regard to conflict of laws
principles).

                            [SIGNATURE PAGE FOLLOWS]

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         IN WITNESS WHEREOF, the parties hereto have caused this Appointment
to be duly executed as of the date and year first above written.

                                       CALPINE CORPORATION, as Depositor

                                       By:  /s/ ANN B. CURTIS
                                           -------------------------------------
                                           Name: Ann B. Curtis
                                           Title: Executive Vice President

                                       WILMINGTON TRUST COMPANY, as
                                       Property Trustee

                                       By:
                                           -------------------------------------
                                           Name:
                                           Title:

                                       WILMINGTON TRUST COMPANY, as
                                       Delaware Trustee

                                       By:
                                           -------------------------------------
                                           Name:
                                           Title:

                                       3
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         IN WITNESS WHEREOF, the parties hereto have caused this Appointment
to be duly executed as of the date and year first above written.

                                       CALPINE CORPORATION, as Depositor

                                       By:
                                           -------------------------------------
                                           Name:
                                           Title:

                                       WILMINGTON TRUST COMPANY, as
                                       Property Trustee

                                       By:  /s/ DENISE M. GERAN
                                           -------------------------------------
                                           Name: Denise M. Geran
                                           Title: Senior Financial Services
                                                  Officer

                                       WILMINGTON TRUST COMPANY, as
                                       Delaware Trustee

                                       By:  /s/ DENISE M. GERAN
                                           -------------------------------------
                                           Name: Denise M. Geran
                                           Title: Senior Financial Services
                                                  Officer

                                       3<PAGE>   1
                                                                     EXHIBIT 4.5

                                 AMENDMENT NO. 1
                                     TO THE
                              DECLARATION Of TRUST
                                       OF
                            CALPINE CAPITAL TRUST III

      This Amendment No. 1 to the Declaration of Trust of Calpine Capital Trust
III (the "Trust"), dated as of July 19, 2000 (this "Amendment"), is made and
entered into among Calpine Corporation, a Delaware corporation, as depositor
(the "Depositor"), and Wilmington Trust Company, a Delaware banking corporation
("WTC"), as trustee, Peter Cartwright, Ann B. Curtis, and Thomas R. Mason, each
an individual, as trustees (collectively, the "Trustees").

                                   WITNESSETH

      WHEREAS, the Trust is a Delaware business trust that was created under
Chapter 38 of Title 12 of the Delaware Code, 12 Del., C. Section 3801, et seq.
(the "Act") pursuant to (i) the Declaration of Trust of the Trust, dated as of
June 28, 2000 (the "Declaration"), and (ii) the Certificate of Trust of the
Trust, dated June 28, 2000, as filed with the office of the Secretary of State
of the State of Delaware (the "Secretary of State") on June 28, 2000, to be
amended and restated by an Amended and Restated Certificate of Trust of the
Trust; and

      WHEREAS, in accordance with Section 3.1 of the Declaration, the Depositor
removed The Bank of New York, a New York banking corporation ("BNY"), and The
Bank of New York (Delaware), a Delaware banking corporation ("BNY(DE)"), as
trustees of the Trust and appointed WTC, as a trustee of the Trust, pursuant to
a Removal and Appointment of Trustees of the Trust, dated as of July 19, 2000;
and

      WHEREAS, the Depositor and the Trustees desire to amend the Declaration as
set forth herein pursuant to Section 5.1 of the Declaration.

      NOW, THEREFORE, in consideration of the mutual promises and obligations
contained herein, the parties hereto, intending to be legally bound, hereby
agree as follows:

      I. AMENDMENTS.

            A.    Section 1.1 of the Declaration is hereby amended by inserting
                  the following language after the definition of the term
                  Indenture: "Offering Circular" means the offering circular
                  relating to the issuance by the Trust of the Preferred
                  Securities.

            B.    Section 3.3 of the Declaration is hereby amended by replacing
                  "Wilmington Trust Company" for "The Bank of New York
                  (Delaware)."

            C.    Section 3.4 of the Declaration is hereby amended by replacing
                  "Wilmington Trust Company" for "The Bank of New York."
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            D.    Section 2.6 of the Declaration is hereby amended and restated
                  in its entirety as follows:

                  SECTION 2.6 Powers of the Trustees.

                  The Administrative Trustees shall have the exclusive power and
            authority to cause the Trust to engage in the following activities:

                  (a) to issue and sell the Preferred Securities and the Common
            Securities in accordance with this Declaration; provided, however,
            that the Trust may issue no more than one series of Preferred
            Securities and no more than one series of Common Securities, and,
            provided further, that there shall be no interests in the Trust
            other than the Securities and the issuance of the Securities shall
            be limited to a one-time, simultaneous issuance of both Preferred
            Securities and Common Securities;

                  (b) in connection with the issue and sale of the Preferred
            Securities to:

                        (i) assist in the preparation of the Offering Circular
                  and preliminary offering circular, if any, in each case
                  prepared by the Depositor, in relation to the offering and
                  sale of the Preferred Securities to qualified institutional
                  buyers in reliance of Rule 144A under the Securities Act and
                  to execute and file with the Commission, at such time as
                  determined by the Depositor a registration statement under the
                  Securities Act prepared by the Depositor, including any
                  amendments thereto in relation to the Preferred Securities,
                  and all other registrations, applications, statements,
                  certificates, and other instruments;

                        (ii) execute and file any documents prepared by the
                  Depositor, or take any acts as determined by the Depositor to
                  be necessary in order to qualify or register all or part of
                  the Preferred Securities in any state or foreign jurisdiction
                  in which the Depositor has determined to qualify or register
                  such Preferred Securities for sale;

                        (iii) execute and deliver letters, documents, or
                  instruments with The Depository Trust Company relating the
                  Preferred Securities;

                        (iv) execute and enter into a purchase agreement and a
                  registration rights agreement and other related agreements
                  providing for the sale and registration of the Preferred
                  Securities; and

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                        (v) execute and file any agreement, certificate or other
                  document which such Administrative Trustee deems necessary or
                  appropriate in connection with the issuance and sale of the
                  Preferred Securities;

                  (c) to acquire the Debentures with the proceeds of the sale of
            the Preferred Securities and the Common Securities; provided,
            however, that the Administrative Trustees shall cause legal title to
            the Debentures to be held of record in the name of the Property
            Trustee for the benefit of the Holders of the Preferred Securities
            and the Holders of Common Securities;

                  (d) to employ or otherwise engage employees and agents (who
            may be designated as officers with titles) and managers,
            contractors, advisors and consultants and provide for reasonable
            compensation for such services;

                  (e) to incur expenses that are necessary or incidental to
            carry out any of the purposes of this Declaration; and

                  (f) to execute all documents or instruments, perform all
            duties and powers, and do all things for and on behalf of the Trust
            in all matters necessary or incidental to the foregoing.

                  D. Section 2.9 of the Declaration is hereby amended and
            restated in its entirety as follows:

                  SECTION 2.9 Responsibilities of the Depositor

                  In connection with the issue and sale of the Preferred
            Securities, the Depositor shall have the exclusive right and
            responsibility to engage in the following activities:

                  (a) to prepare the Offering Circular and any preliminary
            offering circular, and to prepare for filing by the Trust with the
            Commission the registration statement pursuant to a registration
            rights agreement;

                  (b) to determine the states and foreign jurisdictions in which
            to take appropriate action to qualify or register for sale all or
            part of the Preferred Securities and to do any and all such acts,
            other than actions which must be taken by the Trust, and advise the
            Trust of actions it must take, and prepare for execution and filing
            any documents to be executed and filed by the Trust, as the
            Depositor deems necessary or

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            advisable in order to comply with the applicable laws of any such
            States and foreign jurisdictions;

                  (c) to prepare for filing by the Trust an application to
            PORTAL and to the New York Stock Exchange or any other national
            stock exchange or the NASDAQ National Market for listing or
            quotation of the Preferred Securities (including at the time of the
            Remarketing); and

                  (d) to negotiate the terms of a purchase agreement, a
            registration rights agreement and a remarketing agreement relating
            to a remarketing of the Preferred Securities and other related
            agreements providing for the sale of the Preferred Securities.

II. MISCELLANEOUS.

      A. Successors and Assigns. This Amendment shall be binding upon, and shall
enure to the benefit of, the parties hereto and their respective successors and
assigns.

      B. Full Force and Effect. Except to the extent modified hereby, the
Declaration shall remain in full force and effect.

      C. Counterparts. This Amendment may be executed in counterparts, all of
which together shall constitute one agreement binding on all parties hereto,
notwithstanding that all such parties are not signatories to the original or
same counterpart.

      D. Governing Law. This Amendment shall be interpreted in accordance with
the laws of the State of Delaware (without regard to conflict of laws
principles), all rights and remedies being governed by such laws.

      E. Effectiveness of Amendment. This Amendment shall be effective
immediately upon execution.

      F. Capitalized Terms. Capitalized terms used herein and not otherwise
defined are used as defined in the Declaration.

                            [SIGNATURE PAGES FOLLOW]
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      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the day and year first above written.

                                       CALPINE CORPORATION, as depositor

                                       By:
                                           -------------------------------------
                                           Name:
                                           Title:

                                       WILMINGTON TRUST COMPANY, as Property
                                       Trustee

                                       By:  /s/ DENISE M. GERAN
                                           -------------------------------------
                                           Authorized Signatory

                                       WILMINGTON TRUST COMPANY, as Delaware
                                       Trustee

                                       By:  /s/ DENISE M. GERAN
                                           -------------------------------------
                                           Authorized Signatory
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      IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed as of the day and year first above written.

                                       CALPINE CORPORATION, as depositor

                                       By:  /s/ ANN B. CURTIS
                                           -------------------------------------
                                           Name:
                                           Title:

                                       WILMINGTON TRUST COMPANY, as Property
                                       Trustee

                                       By:
                                           -------------------------------------
                                           Authorized Signatory

                                       WILMINGTON TRUST COMPANY, as Delaware
                                       Trustee

                                       By:
                                           -------------------------------------
                                           Authorized Signatory
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                                        /s/ PETER CARTWRIGHT
                                       -----------------------------------------
                                       Peter Cartwright
                                       Administrative Trustee

                                        /s/ ANN B. CURTIS
                                       -----------------------------------------
                                       Ann B. Curtis
                                       Administrative Trustee

                                       -----------------------------------------
                                       Thomas R. Mason
                                       Administrative Trustee
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                                       -----------------------------------------
                                       Peter Cartwright
                                       Administrative Trustee

                                       -----------------------------------------
                                       Ann B. Curtis
                                       Administrative Trustee

                                        /s/ THOMAS R. MASON
                                       -----------------------------------------
                                       Thomas R. Mason
                                       Administrative Trustee

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