<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<!-- MARKER FORMAT-SHEET="Page Rule Double" FSL="Default" -->
<HR ALIGN=LEFT WIDTH=100% SIZE=4 NOSHADE>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<A NAME=A001></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>UNITED STATES <BR>SECURITIES AND
EXCHANGE COMMISSION <BR>WASHINGTON, D.C. 20549 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Center Rule" FSL="Default" -->
     <P ALIGN=CENTER>_________________ </P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<A NAME=A004></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FORM 8-K </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<A NAME=A005></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CURRENT REPORT <BR>Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<A NAME=A007></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Date of Report: March 23,
2010 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold 1-TNR" FSL="Workstation" -->
<A NAME=A008></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Golden Eagle
International, Inc.</U><BR>(Name of small business
issuer as specified in its charter) </FONT></H1>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="600" ALIGN="Center">
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=38% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;<U><B>Colorado</B></U></FONT></TD>
     <TD WIDTH=30% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>0-23726</B></U></FONT></TD>
     <TD WIDTH=32% ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>84-1116515</B></U></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or Other</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Commission</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(I.R.S. Employer</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Jurisdiction of</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>File Number)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Identification</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;Incorporation)</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>No.)</FONT></TD></TR>

</TABLE>

<!-- MARKER FORMAT-SHEET="Head Center Underline-TNR" FSL="Workstation" -->

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>9661 South 700 East, Salt Lake City, Utah 84070</B> </U><BR>(Address of Principal
Executive Offices) (Zip Code) </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Center Underline-TNR" FSL="Workstation" -->
<A NAME=A010></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>(801) 619-9320</B> </U><BR>(Registrant&#146;s
Telephone Number, Including Area Code) </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Left-TNR" FSL="Workstation" -->
<A NAME=A012></A>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U><B>Not applicable</B></U>  <BR>(Former Name or Former
Address, If Changed Since Last Report.) </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[ ] Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425) </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[ ] Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[ ] Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P ALIGN="Left"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>[ ] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </FONT></P>

<HR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<A NAME=A017></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 1.01 Entry into a
Material Definitive Agreement </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
a special meeting of shareholders of Golden Eagle International, Inc. (the
&#147;Company&#148;) held on March 23, 2010 (the &#147;Special Meeting&#148;) among the
proposals approved by the Company&#146;s shareholders were the terms of the employment
agreements between the Company and: (i) Terry Turner, the Company&#146;s Chief Executive
Officer, President and Chairman (the &#147;Turner Agreement&#148;); and (ii) Tracy Madsen,
the Company&#146;s Chief Financial Officer and Vice President &#150; U.S. Operations (the
&#147;Madsen Agreement&#148;). A description of the other matters submitted to the
shareholders at the Special Meeting and how the shareholders cast their votes with respect
to those proposals are further described in Item 5.07 below. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
October 7, 2009 the parties executed and delivered both the Turner Agreement and the
Madsen Agreement. However, both the Turner Agreement and the Madsen Agreement were subject
to the receipt of shareholder approval on or before October 7, 2010. In a Current Report
on Form 8-K dated October 7, 2009 the Company initially disclosed that the Turner
Agreement and the Madsen Agreement were executed and also described the general terms of
the agreements. Additionally, both the Turner Agreement and the Madsen Agreement were
filed as exhibits to that same Form 8-K. After receiving shareholder approval of the
Turner Agreement and the Madsen Agreement at the Special Meeting both agreements became
binding, and enforceable against the Company. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<A NAME=A018></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 3.03 &#151;
Material Modification to Rights of Security Holders </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the
Special Meeting the Company&#146;s shareholders approved a one-for-five hundred
combination of the Company&#146;s common stock (the &#147;reverse stock split&#148;). The
Company expects to file an amendment to its Articles of Incorporation to cause the reverse
stock split to be effected and to notify the Financial Industry Regulatory Authority of
its intent to effect the reverse stock split. The reverse stock split will not be
effective until the Company takes the actions required under Colorado law and by the
regulatory agencies. The Company believes that the reverse stock split will be effected on
or about April 15, 2010, but will definitively disclose the effective date of the reverse
stock split at a future date by appropriate announcement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Once
the reverse stock split is effected every five hundred shares of the Company&#146;s common
stock that are issued and outstanding, will automatically be combined into one issued and
outstanding share without any change in the par value of such shares. No fractional shares
will be issued in connection with the reverse stock split. Shareholders who are entitled
to a fractional share will instead receive a whole share. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
reverse split will affect all holders of the Company&#146;s common stock uniformly and
will not affect any shareholder&#146;s percentage ownership interest in the Company,
except to the extent the reverse split will result in any holder being granted a whole
share for any fractional share that resulted from the reverse split. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Item 5.02 &#151; Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.</B> </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
described in Item 1.01 above on March 23, 2010 the Turner Agreement and the Madsen
Agreement became binding and enforceable against the Company. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additionally,
at the Special Meeting the Company&#146;s shareholders approved the Golden Eagle
International, Inc. Revised 2009 Equity Incentive Plan (the &#147;Plan&#148;). On October
7, 2009 Company&#146;s Board of Directors adopted the Plan and granted stock options
pursuant to it, which included option grants to the Company&#146;s directors and executive
officers. The Plan and the options granted on October 7, 2009 are described in the
Company&#146;s Current Report on Form 8-K filed dated October 7, 2009. Additionally, the
Plan was filed as an exhibit to that Form 8-K. The adoption of the Plan, as well as all
options granted under the Plan, was subject to approval by the Company&#146;s
shareholders. As such, after receiving shareholder approval at the Special meeting the
Plan and the options granted pursuant to it became effective. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Workstation" -->
<A NAME=A019></A>
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 5.07 &#150;
Submission of Matters to a Vote of Security Holders. </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At the
Special Meeting of shareholders, four proposals were submitted to the shareholders for
approval as set forth in the Company&#146;s definitive proxy statement dated February 16,
2010. As of the record date, February 5, 2010, the Company had outstanding shares of
common and preferred stock entitled to cast a total of 4,330,844,694 votes. In total the
holders of record of shares of common stock and preferred stock entitled to 3,290,043,327
votes were present in person or represented by proxy at the Special Meeting, which
represented approximately 76% of the votes attributable to shares of voting stock
outstanding and entitled to vote at the meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At
the meeting, the shareholders approved all four of the proposals, with the votes being
cast as follows: </FONT></P>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="1" WIDTH="600" ALIGN="Center">
<TR VALIGN=Bottom>
     <TH><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH><FONT FACE="Times New Roman" SIZE=2></FONT></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2><B>For</B></FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2><B>Against</B></FONT></TD>
     <TD WIDTH=20% ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2><B>Abstain</B></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Amendment to effect a 1-for-500 reverse stock split</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2,960,514,841&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>328,376,945&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>1,151,541&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Approval of the  Golden Eagle International, Inc. 2009 Revised Equity Incentive Plan</FONT></TD>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2>2,455,616,447&nbsp;</FONT></TD>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2>142,607,073&nbsp;</FONT></TD>

     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>8,959,368&nbsp;</FONT></TD></TR>


<TR VALIGN=Bottom>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2>Approval of the Turner Employment Agreement</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>2,976,970,186&nbsp;</FONT></TD>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2>173,292,576&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>8,501,565&nbsp;</FONT></TD></TR>

<TR VALIGN=Bottom>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2>Approval of the Madsen Employment Agreement</FONT></TD>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2>2,975,744,883&nbsp;</FONT></TD>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2>172,937,135&nbsp;</FONT></TD>
     <TD ALIGN=LEFT ><FONT FACE="Times New Roman" SIZE=2>8,685,310&nbsp;</FONT></TD></TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" -->
<A NAME=A020></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>SIGNATURES</B> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Workstation" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized, on the
26th day of March, 2010. </FONT></P>



<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Workstation" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Golden
Eagle International, Inc.</B><BR><BR>
<BR>By: /s/ Terry C. Turner<BR>&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;&#151;<BR>
 Terry C. Turner<BR>President and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>
<BR>


</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "ge_8k-march2310.htm", "secsgml_size_bytes": 16356}]
{"company-data": {"conformed-name": "GOLDEN EAGLE INTERNATIONAL INC", "cik": "0000869531", "assigned-sic": "1000", "irs-number": "841116515", "state-of-incorporation": "CO", "fiscal-year-end": "1208"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23726", "film-number": "10708652"}, "business-address": {"street1": "9661 SOUTH 700 EAST", "city": "SALT LAKE CITY", "state": "UT", "zip": "84070", "phone": "8016199320"}, "mail-address": {"street1": "9661 SOUTH 700 EAST", "city": "SALT LAKE CITY", "state": "UT", "zip": "84070"}, "former-company": {"former-conformed-name": "BENEFICIAL CAPITAL FINANCIAL SERVICES CORP", "date-changed": "19940329"}}
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13
or 15(d) of the Securities Exchange Act of 1934
Date of Report: March 23,
2010
Golden Eagle
International, Inc.
(Name of small business
issuer as specified in its charter)
Colorado
0-23726
84-1116515
(State or Other
(Commission
(I.R.S. Employer
Jurisdiction of
File Number)
Identification
Incorporation)
No.)
9661 South 700 East, Salt Lake City, Utah 84070
(Address of Principal
Executive Offices) (Zip Code)
(801) 619-9320
(Registrant's
Telephone Number, Including Area Code)
Not applicable
(Former Name or Former
Address, If Changed Since Last Report.)
Check the appropriate box below if
the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions:
[ ] Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a
Material Definitive Agreement
At
a special meeting of shareholders of Golden Eagle International, Inc. (the
"Company") held on March 23, 2010 (the "Special Meeting") among the
proposals approved by the Company's shareholders were the terms of the employment
agreements between the Company and: (i) Terry Turner, the Company's Chief Executive
Officer, President and Chairman (the "Turner Agreement"); and (ii) Tracy Madsen,
the Company's Chief Financial Officer and Vice President – U.S. Operations (the
"Madsen Agreement"). A description of the other matters submitted to the
shareholders at the Special Meeting and how the shareholders cast their votes with respect
to those proposals are further described in Item 5.07 below.
On
October 7, 2009 the parties executed and delivered both the Turner Agreement and the
Madsen Agreement. However, both the Turner Agreement and the Madsen Agreement were subject
to the receipt of shareholder approval on or before October 7, 2010. In a Current Report
on Form 8-K dated October 7, 2009 the Company initially disclosed that the Turner
Agreement and the Madsen Agreement were executed and also described the general terms of
the agreements. Additionally, both the Turner Agreement and the Madsen Agreement were
filed as exhibits to that same Form 8-K. After receiving shareholder approval of the
Turner Agreement and the Madsen Agreement at the Special Meeting both agreements became
binding, and enforceable against the Company.
Item 3.03 —
Material Modification to Rights of Security Holders
At the
Special Meeting the Company's shareholders approved a one-for-five hundred
combination of the Company's common stock (the "reverse stock split"). The
Company expects to file an amendment to its Articles of Incorporation to cause the reverse
stock split to be effected and to notify the Financial Industry Regulatory Authority of
its intent to effect the reverse stock split. The reverse stock split will not be
effective until the Company takes the actions required under Colorado law and by the
regulatory agencies. The Company believes that the reverse stock split will be effected on
or about April 15, 2010, but will definitively disclose the effective date of the reverse
stock split at a future date by appropriate announcement.
Once
the reverse stock split is effected every five hundred shares of the Company's common
stock that are issued and outstanding, will automatically be combined into one issued and
outstanding share without any change in the par value of such shares. No fractional shares
will be issued in connection with the reverse stock split. Shareholders who are entitled
to a fractional share will instead receive a whole share.
The
reverse split will affect all holders of the Company's common stock uniformly and
will not affect any shareholder's percentage ownership interest in the Company,
except to the extent the reverse split will result in any holder being granted a whole
share for any fractional share that resulted from the reverse split.
Item 5.02 — Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
As
described in Item 1.01 above on March 23, 2010 the Turner Agreement and the Madsen
Agreement became binding and enforceable against the Company.
Additionally,
at the Special Meeting the Company's shareholders approved the Golden Eagle
International, Inc. Revised 2009 Equity Incentive Plan (the "Plan"). On October
7, 2009 Company's Board of Directors adopted the Plan and granted stock options
pursuant to it, which included option grants to the Company's directors and executive
officers. The Plan and the options granted on October 7, 2009 are described in the
Company's Current Report on Form 8-K filed dated October 7, 2009. Additionally, the
Plan was filed as an exhibit to that Form 8-K. The adoption of the Plan, as well as all
options granted under the Plan, was subject to approval by the Company's
shareholders. As such, after receiving shareholder approval at the Special meeting the
Plan and the options granted pursuant to it became effective.
Item 5.07 –
Submission of Matters to a Vote of Security Holders.
At the
Special Meeting of shareholders, four proposals were submitted to the shareholders for
approval as set forth in the Company's definitive proxy statement dated February 16,
2010. As of the record date, February 5, 2010, the Company had outstanding shares of
common and preferred stock entitled to cast a total of 4,330,844,694 votes. In total the
holders of record of shares of common stock and preferred stock entitled to 3,290,043,327
votes were present in person or represented by proxy at the Special Meeting, which
represented approximately 76% of the votes attributable to shares of voting stock
outstanding and entitled to vote at the meeting.
At
the meeting, the shareholders approved all four of the proposals, with the votes being
cast as follows:
For
Against
Abstain
Amendment to effect a 1-for-500 reverse stock split
2,960,514,841
328,376,945
1,151,541
Approval of the  Golden Eagle International, Inc. 2009 Revised Equity Incentive Plan
2,455,616,447
142,607,073
8,959,368
Approval of the Turner Employment Agreement
2,976,970,186
173,292,576
8,501,565
Approval of the Madsen Employment Agreement
2,975,744,883
172,937,135
8,685,310
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant caused this
report to be signed on its behalf by the undersigned, thereunto duly authorized, on the
26th day of March, 2010.
Golden
Eagle International, Inc.
By: /s/ Terry C. Turner
——————————————
Terry C. Turner
President and Chief Executive Officer