AMENDMENT
TO
PURCHASE AGREEMENT
This Amendment to the Purchase Agreement is made effective this 6th day of
December, 1996, between Chaparral Resources, Inc. ("Chaparral") and Guntekin
Koksal ("Shareholder").
WHEREAS, Chaparral and Shareholder entered into the Purchase Agreement
("Agreement") dated January 12, 1996 for the purchase by Chaparral of certain
shares of Central Asian Petroleum (Guernsey) Limited ["CAP(G)"] stock owned by
Shareholder;
WHEREAS, Chaparral and Shareholder desire to amend the first sentence of
Section 1.c. of the Agreement;
NOW, THEREFORE, Chaparral and Shareholder agree that the first sentence of
Section 1.c. of the Agreement is deleted in its entirety and replaced by the
following revised first sentence for Section 1.c.:
1.c. Following the Closing A, Chaparral paid to Shareholder $306,250
on June 11, 1996 and $175,000 on September 11, 1996. On December 11,
1996 Chaparral shall pay the balance of the September 11, 1996
payment of $131,250 and $68,750 of the $306,250 payment due to
Shareholder. The balance of the December payment of $237,500 will be
paid to Shareholder on the fifth business day following completion of
interim financing by Chaparral, if so directed by Chaparral's Board
of Directors, but in any event no later than March 11, 1997. On March
11, 1997, Chaparral shall pay Shareholder the regular installment of
$306,250 due on that date and additionally, the payment of $237,500
(should said payment still be outstanding as of that date); (each
such payment referred to here as "Installment Payment").
This Amendment may be executed in one or more counterparts each or which
shall be deemed an original, but all of which together shall constitute one and
the same instrument; and shall only be binding upon the full execution by the
parties.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the day
and year first set forth above.
CHAPARRAL RESOURCES, INC.
/s/Xxxx X. Xxxxxxx
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Xxxx X. Xxxxxxx, President
SHAREHOLDER
/s/Guntekin Koksal
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Guntekin Koksal