Board of Directors

William J. Patterson
Chairman of the Board

Mr. Patterson is a managing director of SPO Partners & Co., a private investment partnership that he joined in 1989. SPO may initially hold more than 10 percent of the Company's common stock and may be considered an affiliate of the Company. From 1985 to 1987, Mr. Patterson was a financial analyst at Goldman, Sachs & Co., where he was involved in structuring and arranging financing for leveraged buyouts and in privately placing debt and equity securities. He also served as a director of Plum Creek Timber Company, the largest private timberland owner in the United States, from December 1992 to May 2003. Mr. Patterson earned his M.B.A. in 1989 from the Stanford Graduate School of Business and received his A.B. from Harvard College in 1984. He is Board Chair of the California Academy of Sciences, Chair of the Investment Committee of the Marin Community Foundation, Vice Chair of the Stanford Business School Trust and a former trustee and board president of the Bay Area Discovery Museum. Mr. Patterson is also a Henry Crown Fellow of the Aspen Institute. In addition to serving as Chairman of the Board, he is a member of the Nominating and Governance Committee.

Frank Cassidy
Chair, Compensation Committee

Prior to his retirement in 2007, Mr. Cassidy was employed at Public Service Enterprise Group, Inc., an energy and energy services company headquartered in New Jersey, since 1969. From 1999-2007, Mr. Cassidy served as President and Chief Operating Officer of PSEG Power LLC, the wholesale energy subsidiary of PSEG, which includes PSEG Nuclear, PSEG Fossil and PSEG Energy Resources & Trade. From 1996-1999, Mr. Cassidy was President and Chief Executive Officer of PSEG Energy Technologies, Inc. Prior to such time, Mr. Cassidy held various positions of increasing responsibility at the Public Service Electric and Gas Company. Mr. Cassidy earned an M.B.A. from Rutgers University in 1974 and has an electrical engineering degree from the New Jersey Institute of Technology. He serves as chair of the Compensation Committee.

Jack A. Fusco
President and Chief Executive Officer

Mr. Fusco joined Calpine as President and Chief Executive Officer and a member of its Board of Directors in August 2008. He recently served as Chairman and Chief Executive Officer of Texas Genco Inc. until 2006. From 2002 until July 2004, Mr. Fusco was the exclusive energy investment advisor to Texas Pacific Group. Earlier in his career, Mr. Fusco helped to found Orion Power, an independent power producer, serving as a Board member and the Company’s Chief Executive Officer until 2002. Prior to the establishment of Orion Power, Mr. Fusco was a vice president in Goldman, Sachs & Co., where he focused on wholesale electric commodity trading and marketing. Before joining Goldman Sachs, Mr. Fusco was executive director for International Development and Operations for Pacific Gas & Electric's nonregulated subsidiary. In that role, Mr. Fusco was responsible for the development and implementation of PG&E's international business strategy and the launching of International Generating Company (InterGen), an international independent power producer focused on emerging markets. Mr. Fusco, who started his career as an operator at power plants in California, has nearly 25 years of experience in the power industry.

Robert C. Hinckley
Member, Audit Committee & Member, Nominating and Governance Committee

Mr. Hinckley previously served as Vice President, Strategic Plans and Programs, General Counsel and Secretary, and Chief Operating Officer for Xilinx, Inc., a supplier of programmable logic solutions in San Jose, CA. From 1988 to 1990, Mr. Hinckley was Senior Vice President and Chief Financial Officer of Spectra Physics, Inc., a supplier of laser products. Mr. Hinckley serves on the boards of directors of several private companies and holds a B.S. in engineering from the U.S. Naval Academy and a J.D. from Tulane University Law School. He serves on the Audit Committee and the Nominating and Governance Committee.

David C. Merritt
Chair, Audit Committee

Since October 2007 Mr. Merritt has served as Senior Vice President and Chief Financial Officer at iCRETE LLC, a technology company in the building materials industry. He served as Managing Director of Salem Partners, LLC, an investment-banking firm, from October 2003 until September 2007. He has been on the boards of Charter Communications and Outdoor Channel Holdings, Inc. since 2003. He also served as a director of Laser-Pacific Media Corporation from January 2001 through October 2003, and served as chairman of its audit committee. He was with KPMG LLP for 24 years, serving in a variety of capacities during his years with the firm, including 14 years as a partner. Mr. Merritt earned a Bachelor of Science degree in business and accounting from California State University - Northridge. Mr. Merritt is chair of the Audit Committee.

W. Benjamin Moreland
Member, Audit Committee

Mr. Moreland has served since July 2008 as President and Chief Executive Officer of Crown Castle International Corporation, which provides broadcast, data and wireless communications infrastructure services in Australia, Puerto Rico and the United States. Prior to that, he had served in other senior executive roles at Crown Castle since starting there in 1999. From 1984 to 1999, Mr. Moreland was employed by Chase Manhattan Bank, serving in various roles of increasing responsibility in corporate finance and real estate investment banking. Mr. Moreland earned an M.B.A. from the University of Houston in 1988 and has a finance degree from the University of Texas, Austin. Mr. Moreland was appointed to the board of directors of Crown Castle International Corporation in 2006. He serves on the Audit Committee.

Robert A. Mosbacher, Jr.
Member, Nominating and Governance Committee

In 2005, President George W. Bush appointed Mr. Mosbacher as President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC), where he served until January 2009. From 1986 to 2005, he was President and CEO of Mosbacher Energy Company in Houston, an independent oil and gas exploration and production company. He was Vice Chairman of Mosbacher Power Group, an independent electric power developer, from 1995 to 2003. Prior to that, Mr. Mosbacher had a distinguished public service career that included serving as Chairman of the Board of the Texas Department of Human Services and as a staff member in the office of Senator Howard Baker of Tennessee. He also has served on the Board of Directors of Devon Energy and Texas Commerce Bank. Mr. Mosbacher also has been active in the Houston community where he served as Chairman of the Board of the Greater Houston Partnership, the Methodist Hospital, the Salvation Army, Trust for an Early Education and the Greater Houston Area Chapter of the American Red Cross. He is founder and Co-Chairman of Rebuilding Together Houston, which helps repair homes for qualified low-income, elderly or disabled Houstonians. He also served on the boards of South Texas College of Law, the Society for the Performing Arts in Houston and as chairman of Preschool for All. Mr. Mosbacher serves on the Nominating and Governance Committee.

Denise M. O'Leary
Chair, Nominating and Governance Committee & Member, Compensation Committee

Since 1996, Ms. O'Leary has been a private venture capital investor in Woodside, California. From 1983 to 1996, Ms. O'Leary was an associate, then general partner, at Menlo Ventures, a venture capital firm that provides long-term capital and management services primarily to development-stage companies in such industries as Internet infrastructure, semiconductors, software, financial services, and computer hardware. Prior to 1983, Ms. O'Leary held various positions of increasing responsibility in manufacturing engineering and management positions at Spectra Physics, Inc. Ms. O'Leary earned an M.B.A. from Harvard Business School in 1983 and has an industrial engineering degree from Stanford University. She is also a director at Medtronic, Inc. and US Airways Group, Inc. She serves as chair of the Nominating and Governance Committee and is also a member of the Compensation Committee.

J. Stuart Ryan
Member, Compensation Committee

Mr. Ryan has been the owner and President of Rydout LLC, an investment firm focused on the energy sector, since February 2003. He also has been a venture partner with SPO Partners & Co., a private investment partnership, since 2003. SPO may initially hold more than 10 percent of the Company's common stock and may be considered an affiliate of the Company. From 1986 through 2003, Mr. Ryan held various management positions with The AES Corporation, a global power company, including Executive Vice President from February 2000 and Chief Operating Officer from February 2002. He also served as Chairman of the Board of Directors of Indianapolis Power & Light, and as a director of AES Gener, a publicly listed company in Chile. Mr. Ryan is a graduate of the Harvard Business School and has a Chemical Engineering degree from Lehigh University. He currently serves on Lehigh's Global Council and is Chairman of its Asa Packer Society and is also a director of O&M Solutions, a company based in Mauritius that provides technical services to companies developing, constructing and operating power plants in Asia, the Middle East and Africa. He serves on the Compensation Committee.