THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Calpine Corporation (CPNLQ.PK)

4/14/2005 Proxy Information

In June 1999, the Company made an interest-free, five-year loan to Thomas R. Mason, Executive Vice President of the Company, in a principal amount of $500,000, secured by a deed of trust on Mr. MasonÕs residence. The loan was made to assist Mr. Mason on purchasing a new residence in connection with his relocation to a new principal place of work upon his beginning his employment with the Company. This loan has been repaid in full by Mr. Mason.

Since January 2000, the Company has entered into an annual Consulting Agreement with George J. Stathakis, who is a member of the Board of Directors, to provide advice and guidance on various management issues to the Chief Executive Officer and members of the Chief Executive OfficerÕs senior staff. Pursuant to the terms of the Consulting Agreement, in 2004 the Company paid Mr. Stathakis a consulting fee of $5,000 per month and issued Mr. Stathakis a stock option grant in January 2004 under the Discretionary Option Grant Program for 10,000 shares of Common Stock at an exercise price of $4.97 per share. Such options were fully vested at the end of 2004. Mr. Stathakis, who is a former employee of the Company, also receives an annual stock option grant from the Company under the Discretionary Option Grant Program in an amount equal to and on similar terms as the grants issued to the other non-employee directors of the Company. Accordingly, in May 2004, Mr. Stathakis received a stock option grant to purchase 3,500 shares of Common Stock at an exercise price of $3.67 per share and such options were fully vested at the end of 2004.

4/16/2004 Proxy Information

In June 1999, the Company made an interest-free, five-year loan to Thomas R. Mason, Executive Vice President of the Company, in a principal amount of $500,000, secured by a deed of trust on Mr. MasonÕs residence. The loan was made to assist Mr. Mason on purchasing a new residence in connection with his relocation to a new principal place of work upon his beginning his employment with the Company. The entire balance of this loan is currently outstanding.

Since January 2000, the Company has entered into an annual Consulting Agreement with George J. Stathakis, who is a member of the Board of Directors, to provide advice and guidance on various management issues to the Chief Executive Officer and members of the Chief Executive OfficerÕs senior staff. Pursuant to the terms of the Consulting Agreement, in 2003, the Company paid Mr. Stathakis a consulting fee of $5,000 per month and issued Mr. Stathakis a stock option grant in January 2003 under the Discretionary Option Grant Program for 10,000 shares of Common Stock at an exercise price of $3.96 per share. Such options were fully vested at the end of 2003. Mr. Stathakis, who is a former employee of the Company, also receives an annual stock option grant from the Company under the Discretionary Option Grant Program in an amount equal to and on similar terms as the grants issued under the Automatic Option Grant Program to the other non-employee directors of the Company. Accordingly, in 2003, Mr. Stathakis received a stock option grant to purchase 5,013 shares of Common Stock and such options were fully vested at the end of 2003.

4/18/2003 Proxy Information

In June 1999, the Company made an interest-free, five-year loan to Thomas R. Mason, Executive Vice President of the Company, in a principal amount of $500,000, secured by a deed of trust on Mr. MasonÕs residence. The loan was made to assist Mr. Mason on purchasing a new residence in connection with his relocation to a new principal place of work upon his beginning his employment with the Company. The entire balance of this loan is currently outstanding.