Document:

Exhibit 10.3

                             PROPOSED AMENDMENTS TO
              CHAPARRAL RESOURCES INC. CERTIFICATE OF INCORPORATION

1.   A new Article ___ shall be added to the Certificate of Incorporation as
follows:

                                   ARTICLE __

     "Any action required or permitted to be taken by the stockholders of the
Corporation must be effected at a duly called annual or special meeting of such
holders and may not be effected by any consent in writing by such stockholders."

2.   A new Article ___ shall be added to the Certificate of Incorporation as
follows:

                                   ARTICLE __

     Section __.1 In anticipation that (a) Central Asian Industrial Holdings NV,
including any person that controls, is controlled by or is under direct or
indirect common control with Central Asian Industrial Holdings NV, and all their
successors by way of merger, consolidation or sale of all or substantially all
of its or their assets, but not including the Corporation and its subsidiaries
(the "Stockholder"), will be and will remain a substantial stockholder of the
Corporation, (b) the Corporation and the Stockholder may engage in the same or
similar activities or lines of business and have an interest in the same areas
of corporate opportunities, (c) the Corporation and the Stockholder may enter
into contracts or otherwise transact business with each other and that the
Corporation may derive benefits therefrom and (d) the Corporation may from time
to time enter into contractual, corporate or business relations with one or more
of its directors or officers or one of more corporations, partnerships, limited
liability companies or other business entities in which one or more of its
directors or officers has a financial interest (collectively, "Related
Entities"), and in recognition of the benefits to be derived by the Corporation
through its continued contractual, corporate and business relations with the
Stockholder (including service of officers and directors of the Stockholder as
officers and directors of the Corporation), the provisions of this Article __
are set forth to regulate and define the conduct of certain affairs, contractual
relationships and other business relations of the Corporation as they may
involve the Stockholder, Related Entities and their respective officers and
directors, and the powers, rights, duties and liabilities of the Corporation and
its officers, directors and the Stockholders in connection therewith. The
following provisions of this Article __ are in addition to, and not in
limitation of, the provisions of the Delaware General Corporation Law and the
other provisions of this [Restated] Certificate of Incorporation.

     Section __.2 The Stockholder will have no duty to refrain from (a) engaging
the same or similar activities or lines of business as the Corporation, (b)
doing business with any customer of the Corporation or (c) employing or
otherwise engaging any officer, director or employee of the Corporation, and
neither the Stockholder nor any officer or director thereof (except as provided
in Section __.3) will be liable to the Corporation or its stockholders for
breach of any fiduciary duty by reason of any such activities of the Stockholder
or of such person's participation therein. If the Stockholder acquires knowledge
of a potential transaction or matter which may be a corporate opportunity for
both the Stockholder and the Corporation, the Stockholder will have no duty to
communicate or offer such corporate opportunity to the Corporation and will not
be liable to the Corporation or its stockholders for breach of any fiduciary
duty as a stockholder of the Corporation by reason of the fact that the

<PAGE>

Stockholder pursues or acquires such corporate opportunity for itself, directs
such corporate opportunity to another person, or does not communicate
information regarding such corporate opportunity to the Corporation.

     Section _.3 In the event that a director or officer of the Corporation, who
is also a director or officer of the Stockholder, acquires knowledge of a
potential transaction or matter which may be a corporate opportunity for both
the Corporation and the Stockholder, such director or officer of the Corporation
(a) will be deemed to have fully satisfied and fulfilled the fiduciary duty of
such director or officer to the Corporation and its stockholders with respect to
such corporate opportunity, (b) will not be liable to the Corporation or its
stockholders for breach of any fiduciary duty by reason of the fact that the
Stockholder pursues or acquires such corporate opportunity for itself or directs
such corporate opportunity to another person or does not communicate information
regarding such corporate opportunity to the Corporation, (c) will be deemed to
have acted in good faith and in a manner such person reasonably believes to be
in and not opposed to the best interests of the Corporation and (d) will be
deemed not to have breached his or her duty of loyalty to the Corporation or its
stockholders and not to have derived an improper personal benefit therefrom, if
such director or officer acts in a manner consistent with the following policy:

          When a corporate opportunity is offered in writing to an
     officer and/or director of the Corporation who is also an officer
     and/or director of the Stockholder, solely in his or her
     designated capacity with one of the two companies, such
     opportunity will belong to whichever corporation was so
     designated. Otherwise, (i) a corporate opportunity offered to any
     person who is an officer or officer and director of the
     Corporation, and who is also a director of the Stockholder will
     belong to the Corporation, (ii) a corporate opportunity offered
     to any person who is a director of the Corporation and who is
     also an officer and/or director of the Stockholder will belong to
     the Stockholder, (iii) a corporate opportunity offered to any
     person who is an officer, but not a director, of both the
     Corporation and the Stockholder will belong to the Stockholder,
     (iv) a corporate opportunity offered to any person who is an
     officer and director of both the Corporation and the Stockholder
     will belong to the Stockholder, and (v) a corporate opportunity
     offered to any person who is an officer or an officer and
     director of the Corporation and who is also an officer or an
     officer and director of the Stockholder will belong to the
     Stockholder.

     Section __.4 If any contract, agreement, arrangement or transaction between
the Corporation and the Stockholder involves a corporate opportunity and is
approved in accordance with the procedures set forth in Section __.5, the
Stockholder and its officers and directors will have fully satisfied and
fulfilled their fiduciary duties to the Corporation and its stockholders with
respect thereto under this Article ___. Any such contract, agreement,
arrangement or transaction involving a corporate opportunity not so approved
will not by reason thereof result in any breach of any fiduciary duty, but will
be governed by the other provisions of this Article ___, this [Restated]
Certificate of Incorporation, the Bylaws of the Corporation, the Delaware
General Corporation Law and applicable law.

     Section ___.5 No contract, agreement, arrangement or transaction between
the Corporation and the Stockholder or between the Corporation and one or more
of the directors or officers of the Corporation, the Stockholder or any Related
Entity or between the Corporation and any Related Entity will be void or
voidable for the reason that the Stockholder, any Related Entity or one or more
of the officers or directors of the Corporation, the Stockholder or any Related
Entities are parties thereto, or because any such directors or officers are
present at or participate in the meeting of the Board of Directors of the
Corporation or committee thereof which authorizes the contract, agreement,
arrangement or transaction, or because his, her or their votes are counted for
such purpose, and the Stockholder, any Related Entity and such directors and

<PAGE>

officers (a) will be deemed to have fully satisfied and fulfilled their
fiduciary duties to the Corporation and its the Stockholders with respect
thereto, (b) will not be liable to the Corporation or its stockholders for any
breach of fiduciary duty by reason of any entering into, performance or
consummation of any such contract, agreement, arrangement or transaction, (c)
will, in the case of officers and directors of the Corporation, be deemed to
have acted in good faith and in a manner such person reasonably believes to be
in and not opposed to the best interests of the Corporation and (d) will, in the
case of officers and directors of the Corporation, be deemed not to have
breached their duties of loyalty to the Corporation and its stockholders and not
to have derived an improper personal benefit therefrom, if:

          (i) the material facts as to the contract, agreement,
     arrangement or transaction are disclosed or are known to the
     Board of Directors of the Corporation or the committee thereof
     which authorizes the contract, agreement, arrangement or
     transaction, and the Board of Directors or such committee in good
     faith authorizes the contract, agreement, arrangement or
     transaction by the affirmative vote of a majority of the
     disinterested directors, even though the disinterested directors
     be less than a quorum; or

          (ii) the material facts as to the contract, agreement,
     arrangement or transaction are disclosed or are known to the
     holders of capital stock entitled to vote, and the contract,
     agreement, arrangement or transaction is specifically approved in
     good faith by vote of the holders of a majority of the combined
     voting power of the then outstanding shares of capital stock of
     the Corporation entitled to vote generally in the election of
     directors.

     Directors of the Corporation who are also directors or officers of the
Stockholder or any Related Entity may be counted in determining the presence of
a quorum at a meeting of the Board of Directors or of a committee which
authorizes the contract, agreement, arrangement or transaction.

     Section ___.6 Any person purchasing or otherwise acquiring any interest in
shares of the capital stock of the Corporation will be deemed to have notice of
and to have consented to the provisions of this Article ----.

     Section ___.7 For the purposes of this Article ___:

     (a) a director of the Corporation who is Chairman or Vice
Chairman of the Board of Directors of the Corporation or chairman of a
committee thereof will not be deemed to be an officer of the
Corporation by reason of holding such position (without regard to
whether such position is deemed an office of the Corporation under the
Bylaws of the Corporation), unless such person is a full-time employee
of the Corporation;

     (b) the "Corporation" will include all subsidiary corporations
and all partnerships, limited liability companies, joint ventures,
associations and other business entities in which the Corporation owns
(directly or indirectly) fifty percent or more of the outstanding
voting stock, voting power, partnership interests or similar ownership
interest; and any contract, agreement, arrangement or transaction with
any such entity, or with any officer or director thereof, will be
deemed to be a contract, agreement, arrangement or transaction with
the Corporation; and

     (c) "Corporate opportunities" will include, but not be limited
to, business opportunities which the Corporation is financially able
to undertake, which are, by their nature, in the line of the

<PAGE>

Corporation's business and are of practical advantage to it, which are
opportunities in which the Corporation has an interest or a reasonable
expectancy, and as to which, by embracing the opportunity, the
self-interest of the Stockholder or the officer or director, as the
case may be, will be brought into conflict with that of the
Corporation.

     Section __.8 Any contract or business relation which does not comply with
the rules set forth in this Article ___ will not by reason thereof be deemed
void or voidable or result in any breach of any fiduciary duty, but will be
governed by the provisions of this [Restated] Certificate of Incorporation, the
Bylaws of the Corporation, the Delaware General Corporation Law and applicable
law.Exhibit 10.4

                             PROPOSED AMENDMENTS TO
                             ----------------------
                         CHAPARRAL RESOURCES INC. BYLAWS
                         -------------------------------

1.   Section 2.2 of Article II shall be replaced with the following:

     "Section 2.2 Special Meetings. Special meetings of the stockholders, for
any purpose or purposes, unless otherwise prescribed by law or by the
certificate of incorporation, (i) may be called by the chairman of the board or
the president and (ii) shall be called by the president or secretary at the
request in writing of a majority of the Board or by stockholders owning capital
stock of the Company representing at least 50% of all capital stock of the
Company entitled to vote thereat. Such request of the Board or the stockholders
shall state the purpose or purposes of the proposed meeting."

2.   Section 2.5.4 of Article II shall be replaced with the following:

     "Section 2.5.4 Required Vote. Except as otherwise required by law, the
certificate of incorporation, or these bylaws, when a quorum is present at a
meeting: (a) the affirmative vote of a majority of shares present in person or
represented by proxy and entitled to vote on the subject matter shall be the act
of the stockholders; and (b) where a separate vote by class or series is
required, the affirmative vote of the majority of shares of such class or series
present in person or represented by proxy shall be the act of such class or
series."

3.   Section 2.5.5 of Article II shall be replaced with the following:

     "Section 2.5.5 Restrictions on Action by Written Consent. Any action
required or permitted to be taken by the stockholders of the Corporation must be
effected at a duly called annual or special meeting of such holders and may not
be effected by any consent in writing by such stockholders."

4.   The following new Section 2.6 shall be added to Article II of the Bylaws

     Section 2.6 Nomination of Directors. Only persons who are nominated in
accordance with the procedures set forth in these Bylaws shall be eligible to
serve as directors of the Company. Nominations of persons for election to the
Board of Directors may be made at a meeting of stockholders (a) by or at the
direction of the Board of Directors or (b) by any stockholder of the Company who
is a stockholder of record at the time of giving of notice provided for in this
Section 2.6, who shall be entitled to vote for the election of directors at the
meeting and who complies with the notice procedures set forth in this Section
2.6. Such nominations, other than those made by or at the direction of the Board
of Directors, shall be made pursuant to timely notice in writing to the
Secretary of the Company. To be timely, a stockholder's notice shall be
delivered to or mailed and received at the principal executive offices of the
Company not less than 60 days nor more than 90 days prior to the meeting;
provided that in the event that less than 70 days' notice or prior public
disclosure of the date of the meeting is given or made to stockholders of the
Company, notice by the stockholder to be timely must be so received not later
than the close of business on the 10th day following the day on which such of
the date of the meeting or such public disclosure was made. Such stockholder's
notice shall set for (a) as to each person whom the stockholder proposes to
nominate for election or reelection as required to be disclosed in solicitations
of proxies for election of directors, or is otherwise required, in each case
pursuant to Regulation 14A under the Securities Exchange Act of 1934, as amended
(including such person's written consent to being named in the proxy statement
as a nominee and to serving as a director if elected) and (b) as to the
stockholder giving the notice (i) the name and address, as they appear on the

<PAGE>

Company's books, of such stockholder and (ii) the class and number of shares of
the Company's capital stock which are beneficially owned by such stockholder. At
the request of the Board of Directors, any person nominated by the Board of
Directors for election as a director shall furnish to the Secretary of the
Company that information required to be set forth in a stockholder's notice of
nomination which pertains to the nominee. The chairman of the meeting shall have
the power and the duty to (a) determine whether a nomination was made in
accordance with the procedures prescribed by this Section 2.6 and, (b) if any
nomination was not made in compliance with this Section 2.6, to declare to the
meeting that the defective nomination shall be disregarded. Notwithstanding the
foregoing provisions of this Section 2.6, a stockholder shall also comply with
all applicable requirements of the Securities Exchange Act of 1934, as amended,
and the rules and regulations thereunder with respect to the matters set forth
in this Section 2.6.

5.   The following new Section 2.7 shall be added to Article II of the Bylaws

     Section 2.7 Notice of Business. At any meeting of the stockholders, only
such business shall be conducted as shall have been brought before the meeting
(a) by or at the direction of the Board of Directors or (b) by any stockholder
of the Company who is a stockholder of record at the time of giving of the
notice provided for in this Section 2.7, who shall be entitled to vote at such
meeting and who complies with the notice procedures set forth in this Section
2.7. For business to be properly brought before a stockholder meeting by a
stockholder, the stockholder must have given timely notice thereof in writing to
the Secretary of the Company. To be timely, a stockholder's notice must be
delivered to or mailed and received at the principal executive offices of the
Company not less than 60 days nor more than 90 days prior to the meeting;
provided that in the event that less than 70 days' notices or prior public
disclosure of the date of the meeting is given or made to stockholders of the
Company, notice by the stockholder to be timely must be received no later than
the close of business on the tenth day following the day on which such notice of
the date of the meeting was mailed or such public disclosure was made. A
stockholder's notice to the Secretary shall set forth as to each matter the
stockholder proposes to bring before the meeting (a) a brief description of the
business desired to be brought before the meeting and the reasons for conducting
such business at the meeting, (b) the name and address, as they appear on the
Company's books, of the stockholder proposing such business, (c) the class and
number of shares of the Company's capital stock which are beneficially owned by
the stockholder and (d) any material interest of the stockholder in such
business. The chairman of the meeting shall have the power and the duty to (a)
determine whether any business was proposed in accordance with the procedures
prescribed by this Section 2.7 and, (b) if any business was not proposed in
compliance with this Section 2.7, to declare to the meeting that such business
shall not be transacted. Notwithstanding the foregoing provision of this Section
2.7, a stockholder shall also comply with all applicable requirements of the
Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder with respect to the matters set forth in this Section 2.7.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00039-of-00352.parquet"}]]