<SUBMISSION>
<ACCESSION-NUMBER>0001193125-12-515511
<TYPE>8-K/A
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20121221
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20121227
<DATE-OF-FILING-DATE-CHANGE>20121227
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>CALPINE CORP
<CIK>0000916457
<ASSIGNED-SIC>4911
<IRS-NUMBER>770212977
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K/A
<ACT>34
<FILE-NUMBER>001-12079
<FILM-NUMBER>121286234
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>717 TEXAS AVENUE
<STREET2>SUITE 1000
<CITY>HOUSTON
<STATE>TX
<ZIP>77002
<PHONE>7138302000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>717 TEXAS AVENUE
<STREET2>SUITE 1000
<CITY>HOUSTON
<STATE>TX
<ZIP>77002
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>8-K/A
<SEQUENCE>1
<FILENAME>d459185d8ka.htm
<DESCRIPTION>FORM 8-K/A
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K/A</TITLE>
</HEAD>
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 <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
<P STYLE="line-height:3px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000">&nbsp;</P> <P STYLE="margin-top:4px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>UNITED STATES </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Washington, D.C. 20549 </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="5"><B>FORM 8-K/A
</B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="4"><B>CURRENT REPORT </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="3"><B>Pursuant to Section&nbsp;13 or 15(d) of The </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Securities Exchange Act of
1934 </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="3"><B>Date of Report (Date of earliest event reported): December&nbsp;21, 2012 </B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center> <P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="margin-top:6px;margin-bottom:0px" ALIGN="center">


<IMG SRC="g459185g60x91.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="6"><B>CALPINE CORPORATION </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>(Exact name of registrant as specified in its charter) </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Delaware</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>1-12079</B></FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>77-0212977</B></FONT></TD></TR>
<TR>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(State or other jurisdiction</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>of incorporation)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Commission</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>File Number)</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(IRS Employer</B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:1px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>Identification No.)</B></FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>717 Texas Avenue, Suite 1000, Houston, Texas&nbsp;77002 </B></FONT></P>
<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>(Addresses of principal executive offices and zip codes) </B></FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B>Registrant&#146;s telephone number, including area code: (713)&nbsp;830-2000 </B></FONT></P>
<P STYLE="margin-top:24px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Not applicable </B></FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT
STYLE="font-family:Times New Roman" SIZE="1"><B>(Former name or former address if changed since last report) </B></FONT></P> <P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P><center>
<P STYLE="line-height:6px;margin-top:0px;margin-bottom:2px;border-bottom:1pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">Check the appropriate box below
if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<U>see </U>General Instruction A.2. below): </FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Written communications pursuant to Rule 425 under the Securities Act (17&nbsp;CFR&nbsp;230.425) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17&nbsp;CFR&nbsp;240.14a-12) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17&nbsp;CFR&nbsp;240.14d-2(b)) </FONT></TD></TR></TABLE>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17&nbsp;CFR&nbsp;240.13e-4(c)) </FONT></TD></TR></TABLE>
<P STYLE="font-size:8px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="line-height:0px;margin-top:0px;margin-bottom:0px;border-bottom:0.5pt solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
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<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">ITEM&nbsp;5.02&nbsp;-</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#tx459185_1">DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN
OFFICERS</A></FONT></TD></TR>
<TR>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">ITEM&nbsp;9.01&nbsp;-</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#tx459185_2">FINANCIAL STATEMENTS AND EXHIBITS</A></FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#tx459185_3">SIGNATURES</A></FONT></TD></TR>
<TR>
<TD VALIGN="top" COLSPAN="3"><FONT STYLE="font-family:Times New Roman" SIZE="2"><A HREF="#tx459185_4">EXHIBIT INDEX</A></FONT></TD></TR>
</TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">1 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>Explanatory Note </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Following the original filing of the Form 8-K on December&nbsp;26, 2012, the Company discovered that it had inadvertently checked the incorrect item tag in the submission (item 5.01 rather than 5.02). The
Company is filing this Form 8-K/A to include the correct item tag. No disclosure was changed as a result of this error. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="tx459185_1">
</A>ITEM&nbsp;5.02&nbsp;-&nbsp;DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS </B></FONT></P> <P STYLE="margin-top:6px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Amendment to the Executive Employment Agreement with Jack A. Fusco, His Resignation as President and His Restricted Stock Award </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;21, 2012, the Board of Directors (the &#147;Board&#148;) of Calpine Corporation (the &#147;Company&#148;) approved an
amendment, effective December&nbsp;21, 2012 (the &#147;Fusco Amendment&#148;), to the executive employment agreement, dated August&nbsp;10, 2008, by and between the Company and Jack A. Fusco (the &#147;Fusco Agreement&#148;). The Fusco Amendment
extends the current term of the Fusco Agreement through December&nbsp;31, 2015 (the &#147;Extended Term&#148;). Mr.&nbsp;Fusco has served as the Company&#146;s President and Chief Executive Officer since August 2008 when he joined the Company.
Effective December&nbsp;21, 2012, and pursuant to the Fusco Amendment, Mr.&nbsp;Fusco resigned as the Company&#146;s President, and will continue to serve as the Company&#146;s Chief Executive Officer and a member of the Board through the
Company&#146;s annual meeting of shareholders in May 2014 (the &#147;Initial Term&#148;). Immediately following the Initial Term, Mr.&nbsp;Fusco will resign as the Company&#146;s Chief Executive Officer and continue to be employed as the
Company&#146;s Executive Chairman through the remainder of the Extended Term. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the Fusco Amendment, Mr.&nbsp;Fusco is
entitled to receive an annual base salary during the Initial Term of $1,300,000 and an annual base salary during the remainder of the Extended Term of 50% of his base salary in effect at the end of the Initial Term. The Fusco Amendment also provides
that Mr.&nbsp;Fusco is entitled during the Extended Term to receive the annual cash target performance bonus that was provided for under the Fusco Agreement, and that for the 2015 fiscal year, he is entitled to receive a prorated bonus based on
actual achievement of 2015 performance targets, provided that he remains employed through the end of the Extended Term. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the Fusco Amendment, Mr.&nbsp;Fusco is entitled to receive the following equity-based awards under the Company&#146;s 2008
Amended and Restated Equity Incentive Plan: (i)&nbsp;no later than December&nbsp;31, 2012, restricted stock equal to $5,000,000 divided by the fair market value of a share of the Company&#146;s common stock as of the grant date, which award will
vest ratably on each of the first three anniversaries of the grant date; (ii)&nbsp;no later than each of February&nbsp;28, 2013 and February&nbsp;28, 2014, performance shares equal to $2,500,000 divided by the fair market value of a share of the
Company&#146;s common stock as of the grant date, which awards will vest on the third anniversary of the grant date and be settled within ten days of the applicable vesting date in shares of the Company&#146;s common stock, ranging from 0% to 200%
of the number of performance shares granted, based on actual performance against predetermined threshold, target and maximum performance goals, as set forth in the applicable award agreements; (iii)&nbsp;no later than each of February&nbsp;28, 2013
and February&nbsp;28, 2014, restricted stock units equal to $2,500,000 divided by the fair market value of a share of the Company&#146;s common stock as of the grant date, which awards will vest ratably on each of the first three anniversaries of
the grant date and be settled within ten days of the applicable vesting date in shares of the Company&#146;s common stock; and (iv)&nbsp;following the Company&#146;s 2015 annual meeting of shareholders but no later than May&nbsp;31, 2015, an equity
award provided for under the directors&#146; compensation program then in effect, which award will vest upon expiration of the Extended Term. The Fusco Amendment provides that any grant or vesting of the foregoing equity awards is conditioned upon
Mr.&nbsp;Fusco&#146;s remaining employed by the Company on such grant or vesting date, respectively, except as described below. In the event of a change in control of the Company, the restricted stock will immediately become fully vested. In the
event that Mr.&nbsp;Fusco&#146;s employment is terminated by the Company without &#147;cause&#148; or by him for &#147;good reason&#148; within twenty-four months following a change in control, the restricted stock units and performance shares will
immediately become fully vested and settled within ten days of the termination date in shares of the Company&#146;s common stock, with the performance shares settled based on performance at 100% target level. In the event that Mr.&nbsp;Fusco&#146;s
employment is otherwise terminated by the Company without &#147;cause&#148; or by him for &#147;good reason,&#148; (i)&nbsp;the restricted stock will immediately become fully vested, and (ii)&nbsp;the restricted stock units and performance shares
will </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">2 </FONT></P>


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no longer be subject to continued service conditions and will be settled on their original payment dates in shares of the Company&#146;s common stock, with the performance shares settled based on
actual performance, in each case subject to Mr.&nbsp;Fusco&#146;s compliance with the restrictive covenants in the Fusco Agreement through the original payment dates. If Mr.&nbsp;Fusco&#146;s employment terminates by reason of disability or death,
all of the equity awards will immediately become fully vested, and the restricted stock units and performance shares will be settled within ten days of the termination date in shares of the Company&#146;s common stock, with the performance shares
settled based on performance at 100% target level. If Mr.&nbsp;Fusco remains employed through the end of the Extended Term, the restricted stock units and performance shares will no longer be subject to continued service conditions and will be
settled on their original payment dates in shares of the Company&#146;s common stock, with the performance shares settled based on actual performance, in each case subject to Mr.&nbsp;Fusco&#146;s compliance with the restrictive covenants in the
Fusco Agreement through the original payment dates. In the event that Mr.&nbsp;Fusco&#146;s employment is terminated by the Company for &#147;cause&#148; or by Mr.&nbsp;Fusco without &#147;good reason,&#148; all of his unvested equity awards will be
forfeited. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the Fusco Amendment, Mr.&nbsp;Fusco will no longer be entitled to a gross up payment in the event that
any amounts under the Fusco Agreement (or any other plan, program, policy or arrangement with the Company) become subject to the excise tax imposed by Section&nbsp;4999 of the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), or the
interest and additional tax imposed by Code Section&nbsp;409A(a)(1)(B). If any amounts will become subject to the excise tax imposed by Code Section&nbsp;4999, then such amounts will be reduced so as not to become subject to such excise tax, but
only if the net amount of such payments as so reduced is greater than or equal to the net amount of such payments without such reduction. Additionally, pursuant to the Fusco Amendment, Mr.&nbsp;Fusco is no longer entitled to an annual car allowance
of $30,000. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;21, 2012, the Board approved an award of 276,395 shares of restricted stock under the
Company&#146;s 2008 Amended and Restated Equity Incentive Plan to Mr.&nbsp;Fusco in connection with his extended term. Pursuant to the terms of the Restricted Stock Agreement between the Company and Mr.&nbsp;Fusco, dated December&nbsp;21, 2012, such
restricted stock award will vest ratably on each of the first three anniversaries of the grant date, provided that Mr.&nbsp;Fusco remains employed by the Company on such vesting dates, except as described below. In the event of a change in control
of the Company or termination of Mr.&nbsp;Fusco&#146;s employment due to death, any outstanding restricted stock will immediately become fully vested. If Mr.&nbsp;Fusco becomes eligible to retire, any outstanding restricted stock will immediately
become fully vested on the later of the date of such eligibility and the one-year anniversary of the grant date. In the event that Mr.&nbsp;Fusco&#146;s employment terminates for any reason other than death or retirement, any outstanding restricted
stock will be forfeited. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">There were no other changes to Mr.&nbsp;Fusco&#146;s compensation arrangements. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The foregoing description is not complete and is qualified in its entirety by reference to the full text of the Fusco Amendment, filed
herewith as Exhibit 10.1, and the Restricted Stock Agreement between the Company and Mr.&nbsp;Fusco, filed herewith as Exhibit 10.2, each of which are incorporated herein by reference. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Amendment to the Letter Agreement with John B. (Thad) Hill, His Appointment as President, and His Restricted Stock Award </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;21, 2012, the Board appointed John B. (Thad) Hill, 45, as the Company&#146;s President, effective December&nbsp;21, 2012,
and approved an amendment, effective December&nbsp;21, 2012 (the &#147;Hill Amendment&#148;), to the letter agreement, dated September&nbsp;1, 2008, by and between the Company and Mr.&nbsp;Hill (the &#147;Hill Agreement&#148;) to reflect such
appointment. Mr.&nbsp;Hill has served as the Company&#146;s Executive Vice President and Chief Commercial Officer since joining the Company on September&nbsp;1, 2008, and became Chief Operating Officer in October 2010. Pursuant to the Hill
Amendment, Mr.&nbsp;Hill will continue to serve as the Company&#146;s Chief Operating Officer. Additionally, Mr.&nbsp;Hill will no longer be entitled to a gross up payment in the event that any amounts under the Hill Agreement (or any other plan,
program, policy or arrangement with the Company) become subject to the excise tax imposed by Code Section&nbsp;4999, or the interest and additional tax imposed by Code Section&nbsp;409A(a)(1)(B). The Hill Amendment further provides that
Mr.&nbsp;Hill will be treated as a Tier 2 participant in the Calpine Corporation Change in Control and Severance Benefits Plan. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;21, 2012, the Board approved an award of 74,018 shares of restricted stock under the Company&#146;s 2008 Amended and
Restated Equity Incentive Plan to Mr.&nbsp;Hill in connection with his appointment as the </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">3 </FONT></P>


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 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
Company&#146;s President. Pursuant to the terms of the Restricted Stock Agreement between the Company and Mr.&nbsp;Hill, dated December&nbsp;21, 2012, such restricted stock award will vest
ratably on each of the first three anniversaries of the grant date, provided that Mr.&nbsp;Hill remains employed by the Company on such vesting dates, except as described below. In the event of a change in control of the Company or termination of
Mr.&nbsp;Hill&#146;s employment due to death, any outstanding restricted stock will immediately become fully vested. If Mr.&nbsp;Hill becomes eligible to retire, any outstanding restricted stock will immediately become fully vested on the later of
the date of such eligibility and the one-year anniversary of the grant date. In the event that Mr.&nbsp;Hill&#146;s employment terminates for any reason other than death or retirement, any outstanding restricted stock will be forfeited. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">There were no other changes to Mr.&nbsp;Hill&#146;s compensation arrangements. There were no arrangements or understandings by which
Mr.&nbsp;Hill was appointed President. Neither the Company nor any of its subsidiaries was involved in any transactions, and there are no currently proposed transactions, with Mr.&nbsp;Hill or his immediate family that are reportable pursuant to
Item&nbsp;404(a) of Regulation S-K. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The foregoing description is not complete and is qualified in its entirety by reference
to the full text of the Hill Amendment, filed herewith as Exhibit 10.3, and the Restricted Stock Agreement between the Company and Mr.&nbsp;Hill, filed herewith as Exhibit 10.4, each of which are incorporated herein by reference. </FONT></P>
<P STYLE="margin-top:18px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><I>Amendment to the Executive Employment Agreement with W. Thaddeus Miller and His Restricted Stock Award </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;21, 2012, the Board approved an amendment, effective December&nbsp;21, 2012 (the &#147;Miller Amendment&#148;) to the
executive employment agreement, dated August&nbsp;11, 2008, by and between the Company and W.&nbsp;Thaddeus Miller (the &#147;Miller Agreement&#148;). The Miller Amendment extends the current term of the Miller Agreement through December&nbsp;31,
2015 (the &#147;Extended Term&#148;). Mr.&nbsp;Miller has served as the Company&#146;s Executive Vice President, Chief Legal Officer and Secretary since August 2008 when he joined the Company, and will continue to be employed in such positions
during the Extended Term. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Under the Miller Amendment, Mr.&nbsp;Miller is entitled to receive an annual base salary during the
Extended Term of $762,200. The Miller Amendment also provides that Mr.&nbsp;Miller is entitled during the Extended Term to receive the annual cash target performance bonus that was provided for under the Miller Agreement, and that for the 2015
fiscal year, he is entitled to receive a prorated bonus based on actual achievement of 2015 performance targets, provided that he remains employed through the end of the Extended Term. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the Miller Amendment, Mr.&nbsp;Miller is entitled to receive the following equity-based awards under the Company&#146;s 2008
Amended and Restated Equity Incentive Plan: (i)&nbsp;no later than December&nbsp;31, 2012, restricted stock equal to 200% of Mr.&nbsp;Miller&#146;s annual base salary on the grant date divided by the fair market value of a share of the
Company&#146;s common stock as of the grant date, which award will vest ratably on each of the first three anniversaries of the grant date; (ii)&nbsp;no later than February&nbsp;28 of each of 2013, 2014 and 2015, performance shares in a number to be
determined by the Compensation Committee of the Board, which awards will vest on the third anniversary of the grant date and be settled within ten days of the applicable vesting date in shares of the Company&#146;s common stock, ranging from 0% to
200% of the number of performance shares granted, based on actual performance against predetermined threshold, target and maximum performance goals, as set forth in the applicable award agreements; and (iii)&nbsp;no later than February&nbsp;28 of
each of 2013, 2014 and 2015, restricted stock units in a number to be determined by the Compensation Committee of the Board, which awards will vest ratably on each of the first three anniversaries of the grant date and be settled within ten days of
the applicable vesting date in shares of the Company&#146;s common stock. The Miller Amendment provides that any grant or vesting of the foregoing equity awards is conditioned upon Mr.&nbsp;Miller&#146;s remaining employed by the Company on such
grant or vesting date, respectively, except as described below. In the event of a change in control of the Company, the restricted stock will immediately become fully vested. In the event that Mr.&nbsp;Miller&#146;s employment is terminated by the
Company without &#147;cause&#148; or by him for &#147;good reason&#148; within twenty-four months following a change in control, the restricted stock units and performance shares will immediately become fully vested and settled within ten days of
the termination date in shares of the Company&#146;s common stock, with the performance shares settled based on performance at 100% target level. In the event that Mr.&nbsp;Miller&#146;s employment is otherwise terminated by the Company without
&#147;cause&#148; or by him for &#147;good reason,&#148; (i)&nbsp;the restricted stock will immediately become fully vested, and (ii)&nbsp;the restricted stock units and performance shares will no longer be subject to continued service conditions
and will be settled on their original payment dates in shares of the Company&#146;s common stock, with the performance shares settled based on </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">4 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2">
actual performance, in each case subject to Mr.&nbsp;Miller&#146;s compliance with the restrictive covenants in the Miller Agreement through the original payment dates. If Mr.&nbsp;Miller&#146;s
employment terminates by reason of disability or death, all of the equity awards will immediately become fully vested, and the restricted stock units and performance shares will be settled within ten days of the termination date in shares of the
Company&#146;s common stock, with the performance shares settled based on performance at 100% target level. If Mr.&nbsp;Miller remains employed through the end of the Extended Term, the restricted stock units and performance shares will no longer be
subject to continued service conditions and will be settled on their original payment dates in shares of the Company&#146;s common stock, with the performance shares settled based on actual performance, in each case subject to Mr.&nbsp;Miller&#146;s
compliance with the restrictive covenants in the Miller Agreement through the original payment dates. In the event that Mr.&nbsp;Miller&#146;s employment is terminated by the Company for &#147;cause&#148; or by Mr.&nbsp;Miller without &#147;good
reason,&#148; all of his unvested equity awards will be forfeited. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the Miller Amendment, Mr.&nbsp;Miller will no
longer be entitled to a gross up payment in the event that any amounts under the Miller Agreement (or any other plan, program, policy or arrangement with the Company) become subject to the excise tax imposed by Code Section&nbsp;4999, or the
interest and additional tax imposed by Code Section&nbsp;409A(a)(1)(B). If any amounts will become subject to the excise tax imposed by Code Section&nbsp;4999, then such amounts will be reduced so as not to become subject to such excise tax, but
only if the net amount of such payments as so reduced is greater than or equal to the net amount of such payments without such reduction. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT
STYLE="font-family:Times New Roman" SIZE="2">On December&nbsp;21, 2012, the Board approved an award of 84,267 shares of restricted stock under the Company&#146;s 2008 Amended and Restated Equity Incentive Plan to Mr.&nbsp;Miller in connection with
his extended term. Pursuant to the terms of the Restricted Stock Agreement between the Company and Mr.&nbsp;Miller, dated December&nbsp;21, 2012, such restricted stock award will vest ratably on each of the first three anniversaries of the grant
date, provided that Mr.&nbsp;Miller remains employed by the Company on such vesting dates, except as described below. In the event of a change in control of the Company or termination of Mr.&nbsp;Miller&#146;s employment due to death, any
outstanding restricted stock will immediately become fully vested. If Mr.&nbsp;Miller becomes eligible to retire, any outstanding restricted stock will immediately become fully vested on the later of the date of such eligibility and the one-year
anniversary of the grant date. In the event that Mr.&nbsp;Miller&#146;s employment terminates for any reason other than death or retirement, any outstanding restricted stock will be forfeited. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">There were no other changes to Mr.&nbsp;Miller&#146;s compensation arrangements. </FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The foregoing description is not complete and is qualified in its entirety by reference to the full text of the Miller Amendment, filed
herewith as Exhibit 10.5, and the Restricted Stock Agreement between the Company and Mr.&nbsp;Miller, filed herewith as Exhibit 10.6, each of which are incorporated herein by reference. </FONT></P> <P STYLE="margin-top:18px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2"><B><I>Amendment to the Change in Control and Severance Benefits Plan </I></B></FONT></P>
<P STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Effective December&nbsp;21, 2012, the Board approved an amendment (the &#147;Plan Amendment&#148;) to the Calpine Corporation Change in
Control and Severance Benefits Plan, as amended (the &#147;Plan&#148;). Pursuant to the Plan Amendment, Tier 1, Tier 2 and Tier 3 participants will no longer be entitled to a gross up payment in the event that any benefit or payment by the Company
(whether paid or payable or distributed or distributable pursuant to the terms of the Plan or otherwise, including any acceleration of vesting or payment) is determined to be subject to the excise tax imposed by Code Section&nbsp;4999. If any
amounts will become subject to the excise tax imposed by Code Section&nbsp;4999, then such amounts will be reduced so as not to become subject to such excise tax, but only if the net amount of such payments as so reduced is greater than or equal to
the net amount of such payments without such reduction. </FONT></P> <P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">The foregoing description is not complete and is qualified in its
entirety by reference to the full text of the Calpine Corporation Change in Control and Severance Benefits Plan, as amended, filed herewith as Exhibit 10.7 and incorporated herein by reference. </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">5 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="tx459185_2"></A>ITEM&nbsp;9.01&nbsp;-&nbsp;FINANCIAL STATEMENTS AND EXHIBITS </B></FONT></P>
<P STYLE="font-size:6px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">(d)</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2"><I>Exhibits</I> </FONT></TD></TR></TABLE> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit&nbsp;No.</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Executive Employment Agreement between the Company and Jack A. Fusco, dated December&nbsp;21,&nbsp;2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Restricted Stock Award Agreement between the Company and Jack A. Fusco, dated December 21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.3</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Letter Agreement between the Company and John B. (Thad) Hill, dated December&nbsp;21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.4</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Restricted Stock Award Agreement between the Company and John B. (Thad) Hill, dated December&nbsp;21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.5</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Executive Employment Agreement between the Company and W. Thaddeus Miller, dated December 21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.6</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Restricted Stock Award Agreement between the Company and W. Thaddeus Miller, dated December&nbsp;21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.7</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Calpine Corporation Change in Control and Severance Benefits Plan.*</FONT></TD></TR>
</TABLE> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Previously filed as an exhibit to the Company&#146;s Current Report on Form 8-K filed with the Securities and Exchange Commission on December&nbsp;26, 2012.
</FONT></TD></TR></TABLE>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">6 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="tx459185_3"></A>SIGNATURES </B></FONT></P>
<P STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%"><FONT STYLE="font-family:Times New Roman" SIZE="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized. </FONT></P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P> <P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="76%"></TD></TR>


<TR>
<TD VALIGN="top" COLSPAN="7"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B>CALPINE CORPORATION</B></FONT></TD></TR>
<TR>
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;</FONT></TD>
<TD VALIGN="bottom" ALIGN="right"><FONT STYLE="font-family:Times New Roman" SIZE="2">By:</FONT></TD>
<TD NOWRAP VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0px;margin-bottom:1px;border-bottom:1px solid #000000"><FONT STYLE="font-family:Times New Roman" SIZE="2">&nbsp;&nbsp;/s/ ZAMIR RAUF</FONT></P></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Zamir Rauf</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Executive Vice President and</FONT></TD></TR>
<TR>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"><FONT STYLE="font-family:Times New Roman" SIZE="2">Chief Financial Officer</FONT></TD></TR></TABLE></DIV> <P STYLE="margin-top:12px;margin-bottom:0px"><FONT
STYLE="font-family:Times New Roman" SIZE="2">Date: December 27, 2012 </FONT></P>
 <p STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P> <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2">7 </FONT></P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
 <P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="center"><FONT STYLE="font-family:Times New Roman" SIZE="2"><B><A NAME="tx459185_4"></A>EXHIBIT INDEX </B></FONT></P>
<P STYLE="font-size:12px;margin-top:0px;margin-bottom:0px">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR>
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Exhibit&nbsp;No.</B></FONT></P></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="bottom"> <P STYLE="border-bottom:1px solid #000000;width:39pt"><FONT STYLE="font-family:Times New Roman" SIZE="1"><B>Description</B></FONT></P></TD></TR>


<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.1</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Executive Employment Agreement between the Company and Jack A. Fusco, dated December 21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.2</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Restricted Stock Award Agreement between the Company and Jack A. Fusco, dated December 21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.3</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Letter Agreement between the Company and John B. (Thad) Hill, dated December&nbsp;21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.4</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Restricted Stock Award Agreement between the Company and John B. (Thad) Hill, dated December&nbsp;21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.5</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Amendment to the Executive Employment Agreement between the Company and W. Thaddeus Miller, dated December 21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.6</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Restricted Stock Award Agreement between the Company and W. Thaddeus Miller, dated December&nbsp;21, 2012.*</FONT></TD></TR>
<TR>
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR>
<TD VALIGN="top" NOWRAP><FONT STYLE="font-family:Times New Roman" SIZE="2">10.7</FONT></TD>
<TD VALIGN="bottom"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Calpine Corporation Change in Control and Severance Benefits Plan.*</FONT></TD></TR>
</TABLE> <P STYLE="line-height:8px;margin-top:0px;margin-bottom:2px;border-bottom:0.5pt solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT STYLE="font-family:Times New Roman" SIZE="2">*</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="font-family:Times New Roman" SIZE="2">Previously filed as an exhibit to the Company&#146;s Current Report on Form 8-K filed with the Securities and Exchange Commission on December&nbsp;26, 2012.
</FONT></TD></TR></TABLE>
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end
</TEXT>
</DOCUMENT>
</SUBMISSION>
