Provides electricity from natural gas and geothermal power plants.

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50 West San Fernando Street
San Jose, CA 95113
Employees: 3,500
CEO: Robert May
Stock Symbol: CPNLQ.PK


Career Site

Calpine Corporation supplies customers and communities with electricity from clean, efficient, natural gas-fired and geothermal power plants. Calpine owns, leases and operates integrated systems of plants in 21 U.S. states and in three Canadian provinces. Its customized products and services include wholesale and retail electricity, gas turbine components and services, energy management and a wide range of power plant engineering, construction and maintenance and operational services.

The company was founded in 1984.

Calpine filed for Chapter 11 bankruptcy in December, 2005 to restructure its debts and protect assets.

Calpine has received commitments for up to $2 billion of secured debtor-in-possession (DIP) financing from Deutsche Bank and Credit Suisse First Boston.

In 2004, Calpine had revenues of $8.7 billion and a net loss of $242 million.


Medical Plan
· Choice of Preferred Provider Organization (PPO) or Point of Service (POS) plans, both with a wide
network of providers and low or no deductibles
· Coverage includes preventative care, inpatient charges, mental health, substance abuse, and prescription
drugs for you, your spouse or domestic partner, and eligible dependent children
Dental plan
· Coverage includes preventative care, basic and major dental work, as well as orthodontia for you, your
spouse or domestic partner, and eligible dependent children
Vision Plan
· Coverage includes annual examinations, lenses and frames, and contact lenses for you, your spouse or
domestic partner, and eligible dependent children
Life Insurance
· Includes Basic Life and Accidental Death & Dismemberment at three times annual base salary (up to
$1,100,000), Basic Dependent Life at $5,000 for spouse and eligible children, and available Supplemental
Life insurance for you, your spouse, and your eligible children (at your cost)
Calpine Retirement Savings 401(k)
· Calpine automatically contributes 4% of your pre-tax earnings, which is immediately vested, regardless or
your contribution
· You can contribute up to 60% of your pre-tax annual earnings up to $13,000 for 2004
Employee Investment Services
· Professionally managed investment opportunities designed to complement your general investing, as well
as retirement plan savings, college planning or managing substantial assets
529 College Savings Plan
· The 529 College Savings Plan provides college savers with tax-advantaged investment portfolios designed
to meet tuition and other higher-education expenses at any eligible education institution in the country

Paid Time Off Programs
· Calpine observes 72 hours paid holiday per year (schedule varies by location). You will also
hours of holiday time for your birthday
- For a milestone birthday ending in a "0", you will receive an additional 32 hours of
- Part-time employees will receive prorated holiday pay based on their standard schedule
· Vacation is accrued on a per-period basis based on your length of service
- Full Time employees receive 120 hours for 0-9 years, 160 hours for 10-14 years, and
for 15+ years
- You may purchase up to 40 hours of additional vacation time per year (based on your
- One per year, you may cash out up to 80 hours of your unused vacation hours, provided
balance after the payment is at least 40 hours
· Sick time is available as needed and may also be used for doctor and dental appointments

Calpine Cash
· Calpine provides $600 per employee per year to offset employee paid premiums for medical and
dental/vision coverages (any excess Calpine Cash is placed in your Health Care Spending Account)

Employee Stock Purchase Plan
· Allows you to purchase Calpine stock at a 15% discount at six-month intervals through after-tax payroll

Updated January 18, 2006

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