0001104659-06-012085 Sample Contracts

RESTRICTED SHARES AWARD AGREEMENT
Restricted Shares Award Agreement • February 27th, 2006 • Apex Silver Mines LTD • Gold and silver ores • Colorado

This Restricted Shares Award Agreement (the “Award Agreement”), made as of the 21st day of February, 2006 (the “Grant Date”), between Apex Silver Mines Limited, a Cayman Islands corporation (“Apex”), and Keith R. Hulley (“Mr. Hulley”).

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RETIREMENT AGREEMENT AND RELEASE
Retirement Agreement and Release • February 27th, 2006 • Apex Silver Mines LTD • Gold and silver ores • Colorado

This Retirement Agreement and Release (“Agreement”) is made between (i) Keith R. Hulley (“Mr. Hulley”), (ii) Apex Silver Mines Corporation, a Delaware corporation (the “Company”), and (iii) Apex Silver Mines Limited, a Cayman Islands company (“Apex”), of which the Company is an indirect wholly owned subsidiary. Mr. Hulley, the Company and Apex are referred to collectively as the “Parties” and each individually as a “Party.” The Effective Date of this Agreement will be as set forth in Section 1.

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