Steve Lovell is playing for his future at Aberdeen.
Lovell felt the wrath of Calderwood following a training ground bust-up with coach Sandy Clark, for which the striker was disciplined.
His contract expires in the summer and the spat with Clark will have done the Englishman no favours in his efforts to earn a new deal.
Calderwood stressed he will only judge Lovell on how the former Dundee frontman plays for the Dons.
Calderwood said: "We have dealt with the situation, but that has nothing to do with Lovell playing or not playing, and nothing to do with his contract.
"We will decide what we are going to do with that, but it is down to the form he has shown, whether it be in the reserves or the first team.
"It is also down to finances.
"We have not made any decision at the moment and I have spoken to him a couple of times.
"I don't think Steve himself knows what he really wants to do though."