Calpine Battles Employee's Bid For Incentive Bonus

Law360, New York (June 27, 2008, 12:00 AM EDT) -- Recently reorganized power company Calpine Corp. is fighting efforts by a high-level employee to get his hands on an $870,000 end-of-year bonus, saying the company is well within its rights to deny such perks.

Calpine, which emerged from Chapter 11 in January, said in a brief filed Thursday with the U.S. District Court for the Southern District of New York that its sole discretion to award or withhold bonuses was explicit in its 2003 marketing and sales incentive plan.

The brief is a response to an...
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