SEC Contract Filing

Filing Date: 2017-04-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>4
<FILENAME>calpine2017nqoptionmiller.htm
<DESCRIPTION>FORM OF NON-QUALIFIED OPTION AGREEMENT THAD MILLER
<TEXT>
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<div><a name="s2802cdae6f4a4227b272098c4d0bbe12"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXHIBIT 10.4</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">CALPINE CORPORATION</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NON-QUALIFIED STOCK OPTION AGREEMENT </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Pursuant to the 2008 Equity Incentive Plan</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">OPTION</font><font style="font-family:inherit;font-size:12pt;">&#32;granted on </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_____________</font><font style="font-family:inherit;font-size:12pt;">&#32;(the "Grant Date") by Calpine Corporation, a Delaware corporation (the "Corporation"), to Thaddeus Miller (the "Grantee") pursuant to this Non-Qualified Stock Option Agreement ("Stock Option Agreement").</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:0px;padding-bottom:12px;text-align:justify;text-indent:48px;"><font style="padding-bottom:12px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">GRANT OF OPTION.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The Corporation hereby grants to the Grantee the right and option (the &#8220;Option&#8221;) to purchase, on the terms and subject to the conditions set forth herein and in the Plan (as defined below), up to </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">_________</font><font style="font-family:inherit;font-size:12pt;">&#32;fully paid and nonassessable shares ("Total Shares") of the Corporation's Common Stock, par value $.001 per share, at the option price of $______ per share, being not less than 100% of the Fair Market Value of such Common Stock on the Grant Date (the &#8220;Exercise Price&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Option is granted pursuant to the Corporation's 2008 Equity Incentive Plan (the "Plan"), a copy of which is attached hereto. The Option is subject in its entirety to all the applicable provisions of the Plan as in effect from time to time, which are hereby incorporated herein by reference. The Option is not intended to qualify as an &#8220;incentive stock option&#8221; within the meaning of Section 422 of the Code. Except as otherwise provided herein, or unless the context clearly indicates otherwise, capitalized terms not otherwise defined herein shall have the same definitions as provided in the Plan.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">PERIOD OF OPTION. </font><font style="font-family:inherit;font-size:12pt;">&#32;The period of the Option shall commence on the Grant Date and expire on the tenth (10</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">) anniversary of the Grant Date, subject to earlier termination as set forth in the Plan and this Stock Option Agreement ("Option Period"). The Option (or any lesser amount thereof) may be exercised from time to time during the Option Period as to the number of Total Shares allowable under Section 3 below and the Plan.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">3.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">EXERCISE OF OPTION. </font><font style="font-family:inherit;font-size:12pt;">The Option shall becom