APEX SILVER MINES LTD
EX-10.2
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<DESCRIPTION>EX-10.2
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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
10.2</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Change of Control
Agreement</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Change of
Control Agreement dated July 10 between Apex Silver Mines Limited and Deborah.
Friedman, Senior Vice President and General Counsel of the Company, is in the
form of the Change of Control Agreement previously filed with the Company&#146;s Form
10-Q for the quarter ended September 30, 2006 which is incorporated by
reference hereto.&#160; The salary and bonus
multiple for the purpose of Section 4(iii)(B) of Ms. Friedman&#146;s agreement is
two.&#160; The benefit period for the purpose
of Sections 4(iv) and (v) of Ms. Friedman&#146;s agreement is twenty-four months.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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