Item 1.01 Entry into a Material Definitive Agreement

Independent Contractor Agreement

On May 30, 2012, Great American Energy, Inc. (the "Company") entered into the Independent Contractor Agreement (the "Independent Contractor Agreement") with Mr. Felipe Pimienta Barrios ("Mr. Pimienta"). Pursuant to the terms of the Independent Contractor Agreement, Mr. Pimienta will assist the Company with business development projects outside of the United States and will be compensated at a rate of $7,000 per month. Additionally, Mr. Pimienta will be reimbursed for reasonable expenses incurred while providing services to the Company under the Independent Contractor Agreement. The Independent Contractor Agreement has a term of one year and is automatically renewable for subsequent one year terms. Mr. Pimienta also serves as a director and the chief executive officer of the Company.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

The information under Item 1.01 of this Current Report on Form 8-K is hereby incorporated by reference into this Item 5.02.

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