------------------------------------------------------------------------------
Total of
Shares
Acquired by
Shares Optionee
Optionee Total Shares Shares Exchanged After
Name Under Option Exercised With Company Exchange
------------------- ---------------- -------------- -------------- -----------
Terry C. Turner 25,000,000 13,586,957 3,586,957 10,000,000
Mary A. Erickson 20,000,000 10,869,566 2,869,566 8,000,000
------------------------------------------------------------------------------
The option price was set at $0.075 per share by the Board on March 20, 2002
and was exercised by written notice to Golden Eagle by Mr. Turner and Ms.
Erickson, and by surrendering to Golden Eagle, on a like-kind, share-for-share
exchange, on a rolling basis as those shares were exercised, 26.4% of the
shares so acquired based on a closing share price on Friday, December 27, 2002
of $0.284.
The common shares of Golden Eagle acquired by Mr. Turner and Ms. Erickson
are restricted shares and may only be traded pursuant to the provisions of
Rule 144, promulgated by the Securities and Exchange Commission under the
Securities Act of 1933.
The option term runs through March 20, 2003. Mr. Turner has 11,413,043
shares remaining under option, and Ms. Erickson has 9,130,434 remaining under
option. |
