Document:

<PAGE>
                                                                     EXHIBIT 4.1

                          FIRST SUPPLEMENTAL INDENTURE

         This FIRST SUPPLEMENTAL INDENTURE (this "Supplemental Indenture"),
dated as of July 10, 2003, is entered into by and between Coeur d'Alene Mines
Corporation ("Coeur") and The Bank of New York (the "Trustee"), as trustee for
Coeur's 9% Convertible Senior Subordinated Notes Due February 26, 2007 (the
"Notes"). Reference is made to that certain Indenture, dated as of February 26,
2003, between Coeur and the Trustee (the "Indenture"). Capitalized terms not
defined herein shall have the meanings ascribed to such terms in the Indenture.

                                    RECITALS

         WHEREAS, Coeur and the Noteholders have executed a Waiver and Consent,
dated as of the date hereof (the "Waiver");

         WHEREAS, such Waiver approves the amendments to the Indenture as set
forth herein; and

         WHEREAS, the Waiver was executed by 100% of the Noteholders.

                                    AGREEMENT

         NOW, THEREFORE, in consideration of the mutual covenants herein
contained and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:

         1.       The form of the Notes attached as Exhibit A to the Indenture
is amended and restated in its entirety as set forth in Exhibit A attached
hereto.

         2.       Section 4.9 of the Indenture is deleted and is no longer
applicable to Coeur or the Noteholders.

         3.       Section 4.11 is amended and restated in its entirety as
follows:

                  "The Company hereby agrees that it will hold a special meeting
                  of stockholders to seek the Stockholder Approval by no later
                  than June 30, 2004 and further agrees that it will use its
                  commercially reasonable best efforts to obtain such
                  Stockholder Approval."

         4.       Section 5.1 of the Indenture is amended to add the following
immediately after the first paragraph:

                  "Notwithstanding the foregoing, following the issuance of the
                  Shares (as defined in those certain Early Conversion
                  Agreements dated as of July 10, 2003 between the Company and
                  the Holders identified therein (the "Early Conversion
                  Agreements")) upon the conversion of the Securities pursuant
                  to the Early
<PAGE>
                  Conversion Agreements, the Notes will not be convertible
                  pursuant to this Article V until the Amended Conversion Date
                  (as defined in Exhibit A hereto)."

         5.       Section 5.15(a) of the Indenture is amended and restated in
its entirety as follows:

                  The Company may elect to automatically convert all of the
                  Securities into Common Stock at the Conversion Price (an
                  "Automatic Conversion") at any time after the Amended
                  Conversion Date (as defined in Exhibit A hereto) and prior to
                  Maturity if (i) the Daily Market Price of the Company's Common
                  Stock has exceeded 150% of the Conversion Price for at least
                  20 Trading Days during any 30-day Trading Day period (the
                  occurrence of such an event being referred to herein as an
                  "Automatic Conversion Trigger Event"), (ii) the shares of
                  Common Stock issuable upon the Automatic Conversion are freely
                  tradable pursuant to an effective Shelf Registration Statement
                  under the Securities Act, (iii) the Common Stock is, or shall
                  have been, approved for listing on the NYSE, the American
                  Stock Exchange (the "Amex") or for quotation on the NASDAQ
                  Stock Market (the "NASDAQ") prior to the Automatic Conversion
                  Date; and (iv) all shares of Common Stock which may be issued
                  with respect to the payment of interest on the Securities will
                  be issued out of the Company's authorized but unissued Common
                  Stock and will, upon issue, be duly and validly issued and
                  fully paid and non-assessable and free of any preemptive
                  rights.

         6.       Section 5.16(a) of the Indenture is amended and restated in
its entirety as follows:

                  Subject to the last sentence of this Section 5.16(a), if a
                  holder elects to voluntarily convert Securities at any time
                  after the Amended Conversion Date (as defined in Exhibit A
                  hereto) and prior to Maturity, such holder will receive a
                  payment of additional interest equal to Additional Interest
                  (as defined in Section 5.15(b)) ("Additional Voluntary
                  Conversion Interest") in shares of Common Stock, as long as
                  the Company has not previously mailed an Automatic Conversion
                  Notice. The shares of Common Stock will be valued at the VWAP
                  per share of the Company's Common Stock for the five Trading
                  Days immediately prior to the date that the holder has
                  delivered to the Company its notice of election to convert, in
                  substantially in the form attached to the Securities (which
                  such notice may be provided via facsimile).

         7.       Section 5.17 of the Indenture is amended and restated as set
forth on Exhibit B attached hereto.

         8.       The Trustee shall not be responsible in any manner whatsoever
for or in respect of the validity or sufficiency of this Supplemental Indenture,
except with respect to the execution hereof by the Trustee, nor shall the
Trustee be responsible for or in respect of the recitals contained herein, all
of which are made solely by Coeur.

         9.       The internal laws of the state of New York shall govern this
Supplemental Indenture, without regard to the conflict of laws provisions
thereof.

        10.       The Indenture, as amended by this Supplemental Indenture,
shall continue to be and shall remain in full force and effect in accordance
with its terms.

        11.       This Supplemental Indenture may be executed by facsimile in
any number of counterparts, each of which shall be an original, with the same
effect as if the signatures thereto and hereto were upon the same instrument.

                                       2
<PAGE>
         IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed by their respective authorized signatories as of
the date first indicated above.

                                        COEUR D'ALENE MINES CORPORATION

                                        By: ____________________________________
                                            Name:_______________________________
                                            Title:______________________________

                                        THE BANK OF NEW YORK

                                        By: ____________________________________
                                            Name:_______________________________
                                            Title:______________________________
<PAGE>
                                    EXHIBIT A

      Form of Amended and Restated 9% Convertible Senior Subordinated Note.

                             [FORM OF FACE OF NOTE]

                        [ORIGINAL ISSUE DISCOUNT LEGEND]

         FOR THE PURPOSES OF SECTIONS 1272, 1273 AND 1275 OF THE INTERNAL
REVENUE CODE OF 1986, AS AMENDED, THIS SECURITY IS BEING ISSUED WITH ORIGINAL
ISSUE DISCOUNT; FOR EACH $1,000 PRINCIPAL AMOUNT OF THIS SECURITY, THE ISSUE
PRICE IS $908.60, THE AMOUNT OF ORIGINAL ISSUE DISCOUNT IS $91.40, THE ISSUE
DATE IS FEBRUARY 26, 2003 AND THE YIELD TO MATURITY IS 12.2811% PER ANNUM.

                           [GLOBAL SECURITIES LEGEND]

         UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), NEW YORK, NEW
YORK, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN SUCH NAME AS IS REQUESTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO SUCH ENTITY
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC) ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH
AS THE REGISTERED OWNED HEREOF HAS AN INTEREST HEREIN.

         TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN
WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR'S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE
LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE
INDENTURE REFERRED TO ON THE REVERSE HEREOF.

                         [RESTRICTED SECURITIES LEGEND]

         THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR
SOLD WITHIN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S.
PERSONS EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF, THE HOLDER (1)
REPRESENTS THAT (A) IT IS A "QUALIFIED INSTITUTIONAL BUYER" (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT), OR (B) IT IS AN ACCREDITED INVESTOR AS DEFINED
IN RULE 501(a)(1), (2), (3) OR (7) UNDER THE SECURITIES ACT (AN "ACCREDITED
INVESTOR"), (2) AGREES THAT IT WILL NOT WITHIN TWO YEARS AFTER THE ORIGINAL
ISSUANCE OF THIS SECURITY RESELL OR OTHERWISE TRANSFER THIS

                                      A-1
<PAGE>
SECURITY EXCEPT (A) TO THE COMPANY OR ANY SUBSIDIARY THEREOF, (B) TO A QUALIFIED
INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C)
TO AN ACCREDITED INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES (OR HAS
FURNISHED ON ITS BEHALF BY A U.S. BROKER-DEALER) TO THE TRUSTEE A SIGNED LETTER
CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS
ON TRANSFER OF THIS SECURITY (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE
TRUSTEE FOR THIS SECURITY), (D) PURSUANT TO THE EXEMPTION FROM REGISTRATION
PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (E) IN ACCORDANCE
WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
(AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), OR (F)
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (3)
AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A
NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. IN CONNECTION WITH ANY
TRANSFER OF THIS SECURITY WITHIN TWO YEARS AFTER THE ORIGINAL ISSUANCE OF THIS
SECURITY, IF THE PROPOSED TRANSFEREE IS AN ACCREDITED INVESTOR, THE HOLDER MUST,
PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE COMPANY SUCH
CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS EITHER OF THEM MAY
REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT.

                                      A-2
<PAGE>
No. ______________

                                                            Cusip No. __________

                         COEUR D'ALENE MINES CORPORATION
                    9.0% CONVERTIBLE SENIOR SUBORDINATED NOTE
                                    DUE 2007
                         COEUR D'ALENE MINES CORPORATION

         Coeur d'Alene Mines Corporation, an Idaho corporation (the "Company")
promises to pay to ____________________________________________ the principal
amount of $________ on February 26, 2007, and to pay interest thereon in the
manner set forth on the reverse hereof accruing from February 26, 2003 at the
rate of 9.0% per annum.

      Interest Payment Dates:        February 15 and August 15, commencing
                                     August 15, 2003

      Record Dates:                  February 1 and August 1

         Reference is hereby made to the further provisions of this Convertible
Senior Subordinated Note set forth on the reverse hereof which further
provisions shall for all purposes have the same effect as if set forth at this
place.

                                      A-3
<PAGE>
         IN WITNESS WHEREOF, Coeur d'Alene Mines Corporation has caused this
Convertible Senior Subordinated Note to be signed manually or by facsimile by
its duly authorized officers.

Dated:  _______________
                                                 COEUR D'ALENE MINES CORPORATION

                                                 By:____________________________

                                                 By:____________________________

[Seal]

TRUSTEE'S CERTIFICATE OF
AUTHENTICATION

This is one of the 9.0% Convertible Senior Subordinated Notes due February 26,
2007 described in the within-mentioned Indenture.

THE BANK OF NEW YORK,
as Trustee

By: ______________________________
    Authorized Signatory

                                      A-4
<PAGE>
                            [FORM OF REVERSE OF NOTE]

                         COEUR D'ALENE MINES CORPORATION

         9.0% CONVERTIBLE SENIOR SUBORDINATED NOTE DUE FEBRUARY 26, 2007

         1. Interest. This note is one of a series of the 9.0% Convertible
Senior Subordinated Notes due February 26, 2007 (the "Convertible Notes") issued
by Coeur d'Alene Mines Corporation, an Idaho corporation (the "Company"),
pursuant to an indenture dated as of February 26, 2003, as amended by that First
Supplemental Indenture dated as of July 10, 2003 (the "Indenture"), between the
Company and The Bank of New York, as Trustee. The Company promises to pay
interest on the Convertible Notes in cash or, at the option of the Company, in
Common Stock, semiannually on each February 15 and August 15, commencing on
August 15, 2003, to holders of record on the immediately preceding February 1
and August 1; provided, however, that the Company may only elect to pay interest
in shares of Common Stock if such Common Stock has been registered pursuant to
an effective Shelf Registration Statement under the Securities Act and if such
issuance of shares of Common Stock would be permissable pursuant to Section 5.17
of the Indenture.

         In the event that the Company elects to pay interest in the Company's
Common Stock, such Common Stock will be valued at 90% of the VWAP per share for
the five Trading Days immediately preceding the second Trading Day prior to the
interest payment date.

         Interest on the Convertible Notes will accrue from the most recent date
to which interest has been paid, or if no interest has been paid, from the date
of issuance. Interest will be computed on the basis of a 360-day year of twelve
30-day months. To the extent lawful, the Company shall pay interest (including
post-petition interest in any proceeding under any Bankruptcy Law) on overdue
installments of interest (without regard to any applicable grace period) at the
rate borne by the Convertible Notes, compounded annually.

         2. Method of Payment. The Company will pay interest on the Convertible
Notes (except defaulted interest) to the persons who are registered holders of
the Convertible Notes entitled to such payments at the close of business on the
record date for the next interest payment date even if Convertible Notes are
canceled after the record date and on or before the interest payment date. The
holder hereof must surrender Convertible Notes to a Paying Agent to collect
principal payments. The Company will pay principal and interest in money of the
United States that at the time of payment is legal tender for payment of public
and private debts. However, the Company may pay principal and interest by check
payable in such money. It may mail an interest check to a holder's registered
address. Additionally, the Company may, subject to certain conditions, pay
interest (including without limitation, Additional Interest and Additional
Voluntary Conversion Interest) by delivery of shares of Common Stock.

         3. Paying Agent and Registrar. The Trustee will act as Paying Agent,
Registrar and Conversion Agent. The Company may change any Paying Agent,
Registrar, co-registrar or Conversion Agent without prior notice. The Company or
any of its Affiliates may act in any such capacity.
<PAGE>
         4. Indenture. The terms of the Convertible Notes include those stated
in the Indenture (which is incorporated hereby as though fully set forth herein)
and those made part of the Indenture by the Trust Indenture Act of 1939 (15 U.S.
Code Sections 77aaa-77bbbb) as in effect on the date of the Indenture. The
Convertible Notes are subject to, and ratified by, all such terms, certain of
which are summarized hereon, and holders are referred to the Indenture and such
Act for a statement of such terms. The Convertible Notes are unsecured
obligations of the Company limited to (except as otherwise provided in the
Indenture) an aggregate principal amount of $37,185,000 and are subordinated in
right of payment to all existing and future Senior Debt of the Company as
provided in the Indenture. Any holder of this Convertible Note shall be deemed
to have agreed to and be bound by all the terms and conditions contained in the
Indenture applicable to a holder of a Convertible Note. All capitalized terms
herein that are not otherwise defined shall have the meaning ascribed thereto in
the Indenture.

         5. Optional Redemption. The Convertible Notes are not subject to
redemption at the Company's option prior to July 15, 2003. On such date and
until the Amended Conversion Date (as defined in paragraph 10 below) and so long
as (i) either (A) the Company has sufficient money on hand or borrowing
availability to effect the proposed redemption or (B) the Company has put on
deposit with the Trustee or with the Paying Agent money sufficient to effect the
redemption, in either case as of the date that the Company sends the notice of
redemption referred to in paragraph 6 below and (ii) the Common Stock issuable
in connection with the payment of the Optional Redemption Interest referred to
below has been registered pursuant to an effective Shelf Registration Statement
under the Securities Act, the Convertible Notes will be subject to redemption at
the option of the Company, in whole or in part (in any integral multiple of
$1,000), upon not less than 30 nor more than 40 days' prior notice by mail at a
price equal to (the "Redemption Price"), which shall be equal to the greater of
(y) the following redemption price (expressed as a percentage of the principal
amount set forth below):

<TABLE>
<CAPTION>
         DATE                                                                REDEMPTION PRICE
         -----------------------------------------------------------------   ----------------
<S>                                                                          <C>
         Beginning on July 15, 2003 and ending on February 25, 2004          102%

         beginning on February 26, 2004 and ending on February 25, 2007      101%

         February 26, 2007                                                   100%
</TABLE>

in each case together with the Optional Redemption Interest (as defined below)
and accrued and unpaid interest up to but not including the redemption date
(subject to the right of holders of record on the relevant record date to
receive interest due on an interest payment date); or (z) an amount in cash
equal to the fair market value (based on the VWAP for the five Trading Days
preceding the date on which a Notice of Redemption is sent) of the shares of
Common Stock that would have been issuable upon voluntary conversion by the
Holder (as provided in Section 5.16 of the Indenture) of such Convertible Notes
on the Trading Day immediately preceding the date on which the Notice of
Redemption is mailed (and assuming that all accrued interest and Additional
Voluntary Conversion Interest payable upon such conversion would have been paid
through the issuance of additional shares of Common Stock, valued, in each case,
in accordance with the terms hereof (such amount being referred to as the "As
Converted Value")). On or after

                                       2
<PAGE>
the redemption date, interest will cease to accrue on the Convertible Notes, or
portion thereof, called for redemption.

         After the Amended Conversion Date, so long as the Company satisfies the
requirements set forth above in this paragraph 5, the Convertible Notes are
redeemable only at the Redemption Price set forth in clause (y) above.

         In the event the Company elects to redeem the Convertible Notes in
accordance with clause (y) of this paragraph 5, the Company will pay Optional
Redemption Interest on the principal amount of the Convertible Notes so
redeemed. Subject to Section 5.17 of the Indenture, Optional Redemption Interest
shall be payable in shares of Common Stock. The shares of Common Stock issuable
in payment of any Optional Redemption Interest will be valued at the VWAP per
share of the Company's Common Stock for the five Trading Days immediately prior
to the date that the Company sends to the holders of the Convertible Notes the
notices of redemption contemplated by paragraph 6 hereof. "Optional Redemption
Interest" shall be equal to the interest that would have accrued and been
payable in respect of the portion of the principal balance of the Convertible
Notes called for redemption pursuant to this paragraph 5 had such principal
portion of the Convertible Notes remained outstanding for the period commencing
on the optional redemption date through the earlier to occur of (i) the two year
anniversary of the optional redemption date and (ii) February 26, 2007.

         6. Notice of Redemption. Notice of redemption will be mailed at least
30 days but not more than 40 days before the redemption date to each holder of
the Convertible Notes to be redeemed at his address of record. The Convertible
Notes in denominations larger than $1,000 may be redeemed in part but only in
integral multiples of $1,000. In the event of a redemption of less than all of
the Convertible Notes, the Convertible Notes will be chosen for redemption by
the Trustee in accordance with the Indenture. Unless the Company defaults in
making such redemption payment, or the Paying Agent is prohibited from making
such payment pursuant to the Indenture, interest will cease to accrue on the
Convertible Notes or portions of them called for redemption on and after the
redemption date.

         If this Convertible Note is redeemed subsequent to a record date with
respect to any interest payment date specified above and on or prior to such
interest payment date, then any accrued interest payable on such interest
payment date will be paid to the person in whose name this Convertible Note is
registered at the close of business on such record date.

         7. Mandatory Redemption. The Company will not be required to make
mandatory redemption payments with respect to the Convertible Notes. There are
no sinking fund payments with respect to the Convertible Notes.

         8. Repurchase at Option of Holder. If there is a Designated Event, the
Company shall be required to offer to purchase on the Designated Event Payment
Date all outstanding Convertible Notes at a purchase price equal to 100% of the
principal amount thereof on the date of purchase, plus accrued and unpaid
interest to the Designated Event Payment Date, plus an amount payable in cash
equal to the sum of the interest that would have accrued and been payable in
respect of the outstanding principal balance of the Convertible Notes that are
tendered for redemption during the Tender Period following the occurrence of the
Designated Event had

                                       3
<PAGE>
such principal balance of the Convertible Notes remained outstanding for the
period commencing on the Designated Event Payment Date through the earlier to
occur of (i) the two year anniversary of the Designated Event Payment Date and
(ii) February 26, 2007. Holders of Convertible Notes that are subject to such a
Designated Event Offer will be mailed a notice of Designated Event Offer from
the Company prior to any related Designated Event Payment Date and, in
accordance with the procedures and terms set forth in the Indenture, may elect
to have such Convertible Notes or portions thereof in authorized denominations
purchased by completing the form entitled "Option of Holder To Elect Purchase."
Holders have the right to withdraw their election by delivering a written notice
of withdrawal to the Paying Agent in accordance with the terms of the Indenture.

         9. Subordination. The payment of the principal of, premium, if any,
interest on, or any other amounts due on the Convertible Notes is subordinated
in right of payment to all existing and future Senior Debt of the Company, as
described in the Indenture. Each holder, by accepting a Convertible Note, agrees
to such subordination and authorizes and directs the Trustee on its behalf to
take such action as may be necessary or appropriate to effectuate the
subordination so provided and appoints the Trustee as its attorney-in-fact for
such purpose.

         10. Conversion. Following the consummation of the transactions
contemplated by the Early Conversion Agreements, the holder of any Convertible
Note has the right at any time after the earlier of (i) the date the Company
receives the Stockholder Approval (as defined in Section 5.17 of the Indenture)
or (ii) June 30, 2004 (the earlier of such dates, the "Amended Conversion Date")
and prior to the close of business (New York time) on the date of the
Convertible Note's maturity, to convert the principal amount thereof (or any
portion thereof that is an integral multiple of $1,000) into shares of Common
Stock at the initial Conversion Price of $1.6014 per share, subject to
adjustment under certain circumstances as more fully described in Section 5.6 of
the Indenture, except that if a Convertible Note is called for redemption, the
conversion right will terminate at the close of business on the Business Day
immediately preceding the date fixed for redemption. Notwithstanding the
foregoing, however, the Company's obligation to deliver such shares of Common
Stock upon any such conversion shall be subject to the requirements of Section
5.17 of the Indenture. In accordance with the terms of the Early Conversion
Agreement, each Holder which executed an Early Conversion Agreement will be
entitled to receive 845 shares of Common Stock for each $1,000 principal amount
of Convertible Notes tendered for conversion pursuant thereto. Such shares shall
satisfy, as set forth in the Early Conversion Agreement, in full the Company's
obligation to issue Common Stock, accrued interest and Additional Voluntary
Conversion Interest pursuant to the requirements of this paragraph 10.

         To convert a Convertible Note, a holder must (1) complete and sign a
notice of election to convert substantially in the form set forth below (which
such notice may be provided via facsimile), (2) surrender the Convertible Note
to a Conversion Agent, (3) furnish appropriate endorsements or transfer
documents if required by the Registrar or Conversion Agent and (4) pay any
transfer or similar tax, if required. Upon conversion, no adjustment or payment
will be made for interest or dividends (except for any required payment of
Additional Voluntary Conversion Interest); provided, however, that on the date
fixed for conversion, the Company will pay to the holder that has exercised its
conversion rights hereunder an amount equal to all accrued but unpaid interest
on the principal portion of its Convertible Note surrendered for conversion for
the

                                       4
<PAGE>
period through the day prior to the date fixed for conversion. The number of
shares of Common Stock issuable upon conversion of a Convertible Note is
determined by dividing the principal amount of the Convertible Note converted by
the Conversion Price in effect on the Conversion Date and then adding any shares
of Common Stock to be delivered in payment of the Additional Voluntary
Conversion Interest. No fractional shares will be issued upon conversion but a
cash adjustment will be made for any fractional interest.

         A Convertible Note in respect of which a holder has delivered an
"Option of Holder to Elect Purchase" form appearing below exercising the option
of such holder to require the Company to purchase such Convertible Note may be
converted only if the notice of option to elect to purchase is withdrawn as
provided above and in accordance with the terms of the Indenture. The above
description of conversion of the Convertible Notes is qualified by reference to,
and is subject in its entirety by, the more complete description thereof
contained in the Indenture.

         11. Automatic Conversion by Company. If at any time after the Amended
Conversion Date (a) the Daily Market Price of the Company's Common Stock exceeds
150% of the Conversion Price for at least 20 Trading Days during any 30-day
Trading Day period, (b) the shares of Common Stock issuable upon conversion
under this paragraph 11 have been registered pursuant to an effective Shelf
Registration Statement under the Securities Act, (c) the Common Stock is, or
shall have been, approved for listing on the NYSE, the American Stock Exchange
(the "Amex") or for quotation on the NASDAQ Stock Market (the "NASDAQ") prior to
the Automatic Conversion Date; and (d) all shares of Common Stock which may be
issued with respect to the payment of interest on the Securities will be issued
out of the Company's authorized but unissued Common Stock and will, upon issue,
be duly and validly issued and fully paid and non-assessable and free of any
preemptive rights, the Company may elect to automatically convert the
Convertible Notes into Common Stock pursuant to Section 5.15 of the Indenture.
Subject to Section 5.17 of the Indenture, in the event that the date that the
Convertible Notes will be automatically converted occurs on or prior to
Maturity, the Company will pay Additional Interest in Common Stock to the
holders. The shares of Common Stock will be valued at the VWAP per share of the
Company's Common Stock for the five Trading Days immediately prior to the date
that the Company sends to the holders of the Convertible Notes the Automatic
Conversion Notice. On the date fixed for conversion, the Company will pay to
each holder an amount equal to all accrued but unpaid interest on the principal
portion of its Convertible Note subject to the Automatic Conversion Notice for
the period through the day prior to the date fixed for conversion. "Additional
Interest" shall be equal to the interest that would have accrued and been
payable in respect of the outstanding principal balance of the Convertible Notes
that are converted hereunder had such principal balance remained outstanding for
the period commencing on the Automatic Conversion Date through the earlier to
occur of (i) the two year anniversary of the Automatic Conversion Date and (ii)
February 26, 2007.

         12. Voluntary Conversion by Holder. If any holder elects to voluntarily
convert its Convertible Notes at any time after the Amended Conversion Date and
on or prior to Maturity, such holders will receive a payment of Additional
Voluntary Conversion Interest upon conversion so long as the Company has not
previously mailed an automatic conversion notice to holders. For purposes of
paying the Additional Voluntary Conversion Interest on the Convertible Notes in
Common Stock upon a voluntary conversion, (a) the provisions of Section

                                       5
<PAGE>
5.17 of the Indenture shall apply and (b) the shares of Common Stock will be
valued at VWAP per share of the Company's Common Stock for the five Trading Days
immediately prior to the date that the holder has delivered to the Company its
notice of election to convert, as contemplated by clause (1) of the second
paragraph of paragraph 10 above. A Holder which has elected to voluntarily
convert its Convertible Notes pursuant to an Early Conversion Agreement will be
entitled, in accordance with the Early Conversion Agreement, to receive the
Additional Voluntary Conversion Interest specified herein.

         13. Denominations, Transfer, Exchange. The Convertible Notes are in
registered form, without coupons, in denominations of $1,000 and integral
multiples of $1,000. The transfer of Convertible Notes may be registered, and
Convertible Notes may be exchanged, as provided in the Indenture. The Registrar
may require a holder, among other things, to furnish appropriate endorsements
and transfer documents and to pay any taxes and fees required by law or
permitted by the Indenture. The Registrar need not exchange or register the
transfer of any Convertible Note or portion of a Convertible Note selected for
redemption (except the unredeemed portion of any Convertible Note being redeemed
in part). Also, the Registrar need not exchange or register the transfer of any
Convertible Note for a period of 15 days before a selection of Convertible Notes
to be redeemed.

         14. Persons Deemed Owners. Except as provided in paragraph 2 of this
Convertible Note, the registered holder of a Convertible Note may be treated as
its owner for all purposes.

         15. Unclaimed Money. If money for the payment of principal or interest
remains unclaimed for the shorter of two years after such payment was due or a
period ending 10 Business Days prior to the date, such funds would escheat to
the State, the Trustee and the Paying Agent shall pay the money back to the
Company at its request. After that, holders of Convertible Notes entitled to the
money must look to the Company for payment unless an abandoned property law
designates another person and all liability of the Trustee and such Paying Agent
with respect to such money shall cease.

         16. Defaults and Remedies. The Convertible Notes shall have the Events
of Default as set forth in Section 8.1 of the Indenture. Subject to certain
limitations in the Indenture, if an Event of Default occurs and is continuing,
the Trustee by notice to the Company or the holders of at least 25% in aggregate
principal amount of the then outstanding Convertible Notes by notice to the
Company and the Trustee may declare all the Convertible Notes to be due and
payable immediately, except that in the case of an Event of Default arising from
certain events of bankruptcy or insolvency, all unpaid principal and interest
accrued on the Convertible Notes shall become due and payable immediately
without further action or notice. Upon acceleration as described in either of
the preceding sentences, the subordination provisions of the Indenture preclude
any payment being made to holders for at least 5 days except as otherwise
provided in the Indenture and may preclude payment entirely.

         The holders of a majority in principal amount of the Convertible Notes
then outstanding by written notice to the Trustee may rescind an acceleration
and its consequences if the rescission would not conflict with any judgment or
decree and if all existing Events of Default have been cured or waived except
nonpayment of principal or interest that has become due solely because of the
acceleration. Holders may not enforce the Indenture or the Convertible Notes

                                       6
<PAGE>
except as provided in the Indenture. Subject to certain limitations, holders of
a majority in principal amount of the then outstanding Convertible Notes issued
under the Indenture may direct the Trustee in its exercise of any trust or
power. The Company must furnish compliance certificates to the Trustee annually.
The above description of Events of Default and remedies is qualified by
reference to, and subject in its entirety by, the more complete description
thereof contained in the Indenture.

         17. Amendments, Supplements and Waivers. Subject to certain exceptions,
the Indenture or the Convertible Notes may be amended or supplemented with the
consent of the holders of at least a majority in principal amount of the then
outstanding Convertible Notes (including consents obtained in connection with a
tender offer or exchange offer for Convertible Notes), and any existing default
may be waived with the consent of the holders of a majority in principal amount
of the then outstanding Convertible Notes including consents obtained in
connection with a tender offer or exchange offer for Convertible Notes. Without
the consent of any holder, the Indenture or the Convertible Notes may be
amended, among other things, to cure any ambiguity, defect or inconsistency, to
provide for assumption of the Company's obligations to holders, to make any
change that does not adversely affect the rights of any holder, to qualify the
Indenture under the TIA, and to comply with the requirements of the SEC in order
to maintain the qualification of the Indenture under the TIA.

         18. Trustee Dealings with the Company. The Trustee, in its individual
or any other capacity, may become the owner or pledgee of Convertible Notes and
may otherwise deal with the Company or an Affiliate with the same rights it
would have if it were not Trustee, subject to certain limitations provided for
in the Indenture and in the TIA. Any Agent may do the same with like rights.

         19. No Recourse Against Others. A director, officer, employee or
stockholder, as such, of the Company shall not have any liability for any
obligations of the Company under the Convertible Notes or the Indenture or for
any claim based on, in respect of or by reason of such obligations or their
creation. Each holder, by accepting a Convertible Note, waives and releases all
such liability. The waiver and release are part of the consideration for the
issue of the Convertible Notes.

         20. Governing Law. THE INTERNAL LAWS OF THE STATE OF NEW YORK SHALL
GOVERN THE INDENTURE AND THE CONVERTIBLE NOTES WITHOUT REGARD TO CONFLICT OF LAW
PROVISIONS THEREOF.

         21. Authentication. The Convertible Notes shall not be valid until
authenticated by the manual signature of an authorized officer of the Trustee or
an authenticating agent.

         22. Abbreviations. Customary abbreviations may be used in the name of a
holder or an assignee, such as: TEN COM (for tenants in common), TEN ENT (for
tenants by the entireties), JT TEN (for joint tenants with right of survivorship
and not as tenants in common), CUST (for Custodian), and U/G/M/A (for Uniform
Gifts to Minors Act).

         23. Definitions. Capitalized terms not defined in this Convertible Note
have the meaning given to them in the Indenture. The Company will furnish to any
holder of the

                                       7
<PAGE>
Convertible Notes upon written request and without charge a copy of the
Indenture. Request may be made to:

                  Coeur d'Alene Mines Corporation
                  505 Front Avenue
                  Coeur d'Alene, Idaho 83814
                  Attention of:  Investor Relations

                                       8
<PAGE>
                                   SCHEDULE A

         The initial principal amount at maturity of this Global Security shall
be $___________. The following increases or decreases in the principal amount of
this Global Security have been made:

<TABLE>
<CAPTION>
                           Amount of increase                             Principal Amount of       Signature of
                           in Principal Amount   Amount of Decrease in   this Global Security    Authorized Officer
                             of this Global       Principal Amount of       Following such          of Trustee or
       Date Made                Security          this Global Security   Decrease or Increase   Securities Custodian
-----------------------    -------------------   ---------------------   --------------------   --------------------
<S>                        <C>                   <C>                     <C>                    <C>

</TABLE>
<PAGE>
                       OPTION OF HOLDER TO ELECT PURCHASE

         If you want to elect to have this Convertible Note or a portion thereof
repurchased by the Company pursuant to Section 3.8 or 4.7 of the Indenture,
check the box: [ ]

         If the purchase is in part, indicate the portion (in denominations of
$1,000 or any integral multiple thereof) to be purchased: __________

         Your Signature:               _________________________________________
                                       (Sign exactly as your name appears on the
                                       other side of this Convertible Note)

         Date:______________________

         Signature Guarantee:(1)       _________________________________________

__________________

(1) Signature must be guaranteed by a commercial bank, trust company or member
    firm of the New York Stock Exchange.

                                      B-1
<PAGE>
                               ELECTION TO CONVERT

To:      Coeur d'Alene Mines Corporation

         The undersigned owner of $________ in principal of Coeur d'Alene Mines
Corporation's 9.0% Convertible Senior Subordinated Notes due February 26, 2007
(the "Convertible Note") hereby irrevocably exercises the option to convert the
Convertible Note, or the portion below designated, into Common Stock of Coeur
d'Alene Mines Corporation in accordance with the terms of the Indenture referred
to in the Convertible Note, and directs that the shares issuable and deliverable
upon conversion, together with any check in payment for fractional shares, be
issued in the name of and delivered to the undersigned, unless a different name
has been indicated in the assignment below. If shares are to be issued in the
name of a person other than the undersigned, the undersigned will pay all
transfer taxes payable with respect thereto.

Date:
                                      Amount of Convertible Note to be converted
                                      ($1,000 or integral multiples thereof);

                                      $______________________________

                                      Signature (for conversion only)

                                      _______________________________

                                      Please Print or Typewrite
                                      Name and Address, Including
                                      Zip Code, and Social Security
                                      or Other Identifying Number:

                                      _______________________________

                                      _______________________________

                                      _______________________________

                                      _______________________________
                                      Signature Guarantee(2)

__________________

(2) Signature must be guaranteed by a commercial bank, trust company or member
    firm of the New York Stock Exchange.

                                      B-2
<PAGE>
                                                                       EXHIBIT B

               [FORM OF CERTIFICATE TO BE DELIVERED IN CONNECTION
              WITH TRANSFERS TO INSTITUTIONAL ACCREDITED INVESTORS]

Coeur d'Alene Mines Corporation
The Bank of New York
101 Barclay Street
New York, NY 10286

Attention:  Corporate Trust Office - Global Finance Unit

Ladies and Gentlemen:

         This certificate is delivered to request a transfer of $     principal
amount of the 9% Convertible Senior Subordinated Notes due 2007 (the
"Securities") of Coeur d'Alene Mines Corporation (the "Issuer").

         Upon transfer, the Securities would be registered in the name of the
new beneficial owner as follows:

         Name:  ___________________________________

         Address:  ________________________________

         Taxpayer ID Number:  _____________________

         The undersigned represents and warrants to you that:

         1. We are an institutional "accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) under the Securities Act of 1933, as amended (the
"Securities Act")), and we are acquiring the Securities not with a view to, or
for offer or sale in connection with, any distribution in violation of the
Securities Act. We have such knowledge and experience in financial and business
matters as to be capable of evaluating the merits and risk of our investment in
the Securities and invest in or purchase securities similar to the Securities in
the normal course of our business. We and any accounts for which we are acting
are each able to bear the economic risk of our or its investment.

         2. We understand that the Securities have not been registered under the
Securities Act and, unless so registered, may not be sold except as permitted in
the following sentence. We agree on our own behalf and on behalf of any investor
account for which we are purchasing Securities to offer, sell or otherwise
transfer such Securities prior to the later of the date which is two years after
(X) the later of (A) the date of original issue or (B) the date on which this
Security was acquired from an affiliate of the Issuer or (Y) the date that is
three months after the last date on which the Issuer or any affiliate of the
Issuer was the owner of such Securities (or any predecessor thereto) only (a) to
the Issuer or any subsidiary thereof, (b) to a Qualified Institutional Buyer in
compliance with Rule 144A under the Securities Act, (c) to an Accredited

                                      B-3
<PAGE>
Investor that, prior to such transfer, furnishes (or has furnished on its behalf
by a U.S. Broker-Dealer) to the Trustee a signed letter containing certain
representations and agreements relating to the restrictions on transfer of this
security (the form of which letter can be obtained from the Trustee for this
Security), (d) pursuant to the exemption from registration provided by Rule 144
under the Securities Act (if available), (e) in accordance with another
exemption from the registration requirements of the Securities Act (and based
upon an opinion of counsel if the Issuer so requests), or (f) pursuant to an
effective registration statement under the Securities Act, subject in each of
the foregoing cases to any requirement of law that the disposition of our
property or the property of such investor account or accounts be at all times
within our or their control and in compliance with any applicable state
securities laws. In connection with any transfer of this security prior to the
later of the date which is two years after (X) the later of (A) the date of
original issue or (B) the date on which this Security was acquired from an
affiliate of the Issuer or (Y) the date that is three months after the last date
on which the Issuer or any affiliate of the Issuer was the owner of such
Securities (or any predecessor thereto), pursuant to clause (c) or (e) above if
the holder must, prior to such transfer, furnish to the Trustee and the Issuer
such certifications, legal opinions or other information as either of them may
reasonably require to confirm that such transfer is being made pursuant to an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act.

                                            ____________________________________
                                                      [Name of Transferee]

                                            By:_________________________________
                                                      Authorized Signature

                                      B-4

<PAGE>
                                                                       EXHIBIT C

                      [FORM OF CERTIFICATE TO BE DELIVERED
               IN CONNECTION WITH TRANSFERS PURSUANT TO RULE 144A]

Coeur d'Alene Mines Corporation
The Bank of New York
101 Barclay Street
New York, NY 10286
Attention:  Corporate Trust Office - Global Finance Unit

                  Re:      Coeur d'Alene Mines Corporation (the "Issuer")
                           9% Convertible Senior Subordinated Notes due 2007
                           (the "Securities").

Ladies and Gentlemen:

         In connection with our proposed sale of $________ aggregate principal
amount at maturity of the Securities, we hereby certify that such transfer is
being effected pursuant to and in accordance with Rule 144A ("Rule 144A") under
the United States Securities Act of 1933, as amended (the "Securities Act"),
and, accordingly, we hereby further certify that the Securities are being
transferred to a person that we reasonably believe is purchasing the Securities
for its own account, or for one or more accounts with respect to which such
person exercises sole investment discretion, and such person and each such
account is a "qualified institutional buyer" within the meaning of Rule 144A in
a transaction meeting the requirements of Rule 144A and such Securities are
being transferred in compliance with any applicable blue sky securities laws of
any state of the United States.

         You and the Issuer are entitled to rely upon this letter and are
irrevocably authorized to produce this letter or a copy hereof to any interested
party in any administrative or legal proceedings or official inquiry with
respect to the matters covered hereby.

                                            Very truly yours,

                                            ____________________________________
                                                      [Name of Transferee]

                                            By:_________________________________
                                                      Authorized Signature

                                      B-5
<PAGE>
                                    EXHIBIT B

         Section 5.17 Issuance Limitations.

                  (a) The total number of shares of Common Stock issued or
issuable upon conversion of the Securities, as Additional Interest, Additional
Voluntary Conversion Interest or Optional Redemption Interest (as defined in the
Form of Security set forth in Exhibit A attached hereto) in respect of the
Securities or otherwise (including any shares of capital stock or rights to
acquire shares of capital stock issued by the Company pursuant to (i) those
certain Early Conversion Agreements dated as of July 10, 2003 between the
Company and the holders identified therein (the "Early Conversion Agreements")
and (ii) any other transactions which are aggregated or integrated with the
Common Stock issued or issuable upon conversion of the Notes or as Additional
Interest, Additional Voluntary Conversion Interest or Optional Redemption
Interest in respect of the Securities for purposes of any such rule or
regulation) shall not exceed the maximum number of shares of Common Stock which
the Company can so issue pursuant to any rule or regulation of the NYSE (or any
other principal United States securities market on which the Common Stock
trades) (the "Maximum Interest Share Amount"), which as of the Issuance Date was
27,532,042 (19.99% of the total shares of Common Stock outstanding on the
Issuance Date), subject to equitable adjustments from time to time for stock
splits, stock dividends combinations, capital reorganizations and similar events
relating to the Common Stock occurring after the Issuance Date. The limitation
set forth in this Section 5.17(a) shall not apply if the issuances of Common
Stock in lieu of cash are Permitted Issuances (as defined below) or if the
Stockholder Approval (as defined below) has been obtained.

                  (b) In the event that, following the consummation of the
transactions contemplated by the Early Conversion Agreements, the number of
shares of Common Stock issuable upon conversion of the then-outstanding
Securities, when added to the number of shares of Common Stock previously issued
and included in the computation of the Maximum Interest Share Amount, would
exceed the Maximum Interest Share Amount, then, in lieu of receiving shares of
Common Stock upon conversion of the Notes, a holder will be entitled, upon any
such conversion, to receive an amount of cash equal to the As Converted Value
(as defined in paragraph 5 of the Form of Security set forth in Exhibit A
attached hereto and substituting the date on which the election to convert is
delivered to the Conversion Agent for the "date on which a Notice of Redemption
is sent" referred to clause (z) in said paragraph 5), provided that the
limitation set forth in this Section 5.17(b) shall not apply if the issuances of
Common Stock in lieu of cash are Permitted Issuances or the Stockholder Approval
has been obtained.

                  (c) Following the consummation of the transactions
contemplated by the Early Conversion Agreements, interest on the Securities
(including Additional Interest, Additional Voluntary Conversion Interest or
Optional Redemption Interest) shall be paid by the Company in cash unless prior
to the issuance of shares of Common Stock in lieu thereof, the Company (i) is
permitted (or not prohibited) by the applicable rules and regulations of the
principal securities market on which the Common Stock is listed or traded to
issue shares of Common Stock as such interest in respect of the Securities in
excess of the Maximum Interest Share Amount (a "Permitted Issuance") or (ii) has
obtained stockholder approval of the issuance of shares of Common Stock as
interest on the Securities in excess of the Maximum Interest Share
<PAGE>
Amount in accordance with applicable law and the rules and regulations of any
stock exchange, interdealer quotation system or other self-regulatory
organization with jurisdiction over the Company or any of its securities (the
"Stockholder Approval").<PAGE>
                                                                    EXHIBIT 10.1

                           EARLY CONVERSION AGREEMENT

      This EARLY CONVERSION AGREEMENT (this "Agreement"), dated as of July ___,
2003, is made and entered into by and among Coeur d'Alene Mines Corporation, an
Idaho corporation (the "Company"), and each of the persons signatory and listed
on Annex A hereto (each, a "Holder" and collectively, the "Holders").

                                    RECITALS

      WHEREAS, each Holder is a holder of the Company's 9% Convertible Senior
Subordinated Notes due February 26, 2007 (the "Notes"), which Notes were issued
under that certain Indenture, dated as of February 26, 2003 (as amended by the
Amendments (as hereinafter defined), the "Indenture"), between the Company and
The Bank of New York, a New York banking corporation, as trustee (the
"Trustee");

      WHEREAS, the Company and certain holders of the Notes entered into that
certain Waiver and Amendment dated as of May 19, 2003 (the "First Waiver and
Amendment");

      WHEREAS, immediately prior hereto, the Company and the Holders entered
into that certain Waiver and Amendment, attached hereto as Exhibit A (the
"Second Waiver and Amendment" and, together with the First Waiver and Amendment,
the "Amendments"), dated as of the date hereof.

      WHEREAS, the Notes are convertible, at the option of each holder of the
Notes, into shares of common stock, par value $1.00 per share, of the Company
(the "Common Stock"), in accordance with the terms of the Indenture;

      WHEREAS, each Holder desires, on the terms and conditions set forth herein
and in the Indenture, to exercise its option to convert a portion of the
principal amount of the Notes held by such Holder into shares of Common Stock;
and

      WHEREAS, the Second Amendment and Waiver, in part, increased the number of
shares of Common Stock issuable as Additional Voluntary Conversion Interest (as
such term was previously defined in the Indenture prior to the Amendments) upon
the early conversion of a portion of the Notes (such increase in the number of
shares of Common Stock issuable as Additional Voluntary Conversion Interest due
to the effect of the Second Amendment and Waiver, the "Extra Shares"), in
consideration for which the Holders have agreed to enter into this Agreement to
effect the early conversion of a portion of the Notes held by such Holders.

                                    AGREEMENT

      NOW, THEREFORE, in consideration of the mutual covenants herein contained
and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree as follows:

      1. CONVERSION OF NOTES. On the terms and subject to the conditions of this
Agreement and the Indenture, each Holder hereby agrees to convert into Common
Stock the principal amount of Notes set forth with respect to such Holder on
Annex A hereto under the

                                       1
<PAGE>
column entitled "Principal Amount of Notes to be Converted." Each Holder will
effect such conversion under the terms of the Indenture by the delivery to the
Company a properly completed and executed Election To Convert, the form of which
was attached as part of Exhibit A to the Indenture. For information purposes
only, the number of shares of Common Stock to be issued by the Company under the
terms of the Indenture as a result of such Election To Convert is set forth with
respect to such Holder on Annex A hereto under the column entitled "Conversion
Shares" (collectively, the "Conversion Shares").

      2. CLOSING. The Company shall, immediately upon, and subject to, the
receipt of (i) a fully executed copy of this Agreement, (ii) a properly
completed and executed Election To Convert, and (iii) a fully executed Second
Waiver and Amendment, in each case from each Holder and each other holder of
outstanding Notes as of the date hereof, transmit to the Trustee a properly
executed Officers' Certificate of the Company pursuant to the Indenture, a form
of which is attached hereto as Exhibit B. Subject to compliance with the terms
of the Notes, immediately upon confirmation of receipt of the Officers'
Certificate by the Trustee, the Company shall deliver to each Holder the
Conversion Shares. The Company shall deliver all such Conversion Shares
electronically to each such Holder in accordance with written instructions from
each such Holder.

      3. REGISTRATION STATEMENT. Immediately after the issuance of the Shares to
the Holders, the Company shall file a Form S-3 registration statement (the "462
Registration Statement") pursuant to Rule 462(b) and General Instruction IV to
Form S-3, both as promulgated under the Securities Act of 1933, as amended (the
"Securities Act"), relating to the Company's effective, current Form S-3 "shelf"
registration statement (file no. 333-101434) (as amended and supplemented, and
together with the 462 Registration Statement, the "Registration Statement") on
file with the Securities and Exchange Commission, in order to register the
resale by the Holders of the Extra Shares thereunder. Concurrent with such
filing, the Company shall also prepare and file an additional prospectus
supplement (subject to reasonable approval and comment by the Holders and their
counsel) for use by the Holders with respect to the Registration Statement.

      4. LIMITATION ON SALES OF COMMON STOCK BY HOLDERS. Each Holder hereby
agrees not to knowingly sell to a single purchaser or group of affiliated
purchasers more than 2 million shares of Common Stock registered by the
Registration Statement in a single transaction or a series of related
transactions.

      5. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company represents
and warrants to the Holders that:

            (a) Due Organization and Good Standing. The Company has been duly
organized and is validly existing as a corporation in good standing under the
laws of the State of Idaho, with all requisite power and authority under such
laws to own, lease and operate its properties, to conduct its business as now
being conducted and to enter into and perform its obligations under this
Agreement.

                                       2
<PAGE>
            (b) Authorization of Agreement. This Agreement has been duly
authorized, executed and delivered by the Company and constitutes a valid and
legally binding agreement of the Company, enforceable against the Company in
accordance with its terms, except as enforcement is limited by bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer or conveyance or
other similar laws now or hereafter in effect relating to creditors' rights
generally or by general principles of equity (regardless of whether
enforceability is considered in a proceeding at law or in equity) (collectively,
the "Enforceability Exceptions").

            (c) Valid Issuance of Common Stock. The Shares, when issued and
delivered in accordance with the terms of this Agreement for the consideration
expressed herein, will be duly and validly issued, fully paid and nonassessable,
will have the rights, preferences, privileges and restrictions described in the
Company's Certificate of Incorporation, and will be free of restrictions on
transfer other than restrictions on transfer under this Agreement and under
applicable state and federal securities laws. Subject to applicable restrictions
on transfer, the issuance and delivery of the Shares are not subject to any
preemptive or other similar rights or any security interest, mortgage, liens,
encumbrances or equitable right except as specifically set forth in the
Company's Certificate of Incorporation or this Agreement.

            (d) Absence of Conflicts. The execution, delivery and performance of
this Agreement and compliance by the Company with the terms of this Agreement do
not and will not, whether with or without the giving of notice or passage of
time or both, violate, conflict with or constitute a breach of, or default
under, or result in the creation or imposition of any lien upon any properties
or assets of the Company or any of its subsidiaries and the Company need not
give any notice, make any filing, or obtain any authorization, consent or
approval in order to consummate the transactions contemplated herein, except for
the required consent set forth on Schedule 5(d), which such consent has been
received by the Company as of the date hereof.

            (e) Non-public Information. The Company has not disclosed to the
Holders, orally or in writing, any information (including information contained
in this Agreement or any schedule to this Agreement) of which the Company's
directors or officers are aware, that has not been disclosed to the public in
any reports required to be filed by the Company with the Securities and Exchange
Commission under the Securities Exchange Act of 1934, as amended, including
pursuant to Section 13(a) or 15(d) thereof, which the Company considers to be
material to the financial condition, operating results or assets of the Company
or that it considers material to purchasers and sellers of the Company's Common
Stock.

      6. REPRESENTATIONS AND WARRANTIES OF THE HOLDERS. Each Holder represents
and warrants to the Company that:

            (a) Investment Intent. The Holder is acquiring the Shares pursuant
to this Agreement with its own funds or property for its own account and not as
a nominee or agent for the account of any other person. The Holder is acquiring
the Shares for investment purposes and not with a view to the sale or
distribution of any Shares in contravention of the Securities Act.

            (b) No Public Offering. The Holder is able to bear the economic risk
of its investment in the Shares. The Holder is aware that it must be prepared to
hold the Shares for an

                                       3
<PAGE>
indefinite period and that the Shares have not been, and when issued will not
be, registered under the Securities Act or registered or qualified under any
state securities law, on the ground that the Shares are being issued by the
Company without any public offering within the meaning of Section 4(2) of the
Securities Act. The Holder understands that the Company's reliance on such
exemption is predicated on the Holder's representations set forth herein;
provided, however, that by making the representations herein, such Holder does
not agree to hold any of the Shares for any minimum or other specific term and
reserves the right to dispose of the Shares at any time in accordance with or
pursuant to a registration statement or an exemption under the Securities Act.

            (c) Receipt of Information. The Holder has had an opportunity to
discuss the terms and conditions of the offering of the Shares and the Company's
business, management and financial affairs with the Company's management and to
obtain additional information necessary to verify the accuracy of any
information furnished to the Holder or to which the Holder had access. The
Holder is not subscribing for the Shares as a result of any advertisement,
article, notice or other communication published in any newspaper, magazine or
similar media or broadcast over television or radio or any solicitation of a
subscription by any person not previously known to the Holder in connection with
investments in securities generally.

            (d) Securities will be "Restricted Securities". The Holder
understands that the Shares will be "restricted securities" as that term is
defined in Rule 144 promulgated under the Securities Act and, accordingly, that
the Shares may not be sold, transferred or otherwise disposed of unless they are
subsequently registered under the Securities Act or an exemption from such
registration is available. The Holder understands and agrees that, except as
provided herein, the Company is not under any obligation to register the Shares
under the Securities Act. The Holder is aware that the Shares may not be sold
pursuant to Rule 144 promulgated under the Securities Act unless the conditions
of that Rule are met or such rule is no longer applicable.

            (e) Accredited Investor. The Holder has been advised or is aware of
the provisions of Regulation D under the Securities Act relating to the
accreditation of Holders, and the Holder is an "accredited investor" as defined
in Rule 501 of Regulation D promulgated under the Securities Act.

            (f) Sophistication of the Holder. The Holder has such knowledge and
experience in financial and business matters that the Holder is capable of
evaluating the merits and risks of the investment contemplated by this Agreement
and has the capacity to protect its own interests. The Holder acknowledges that
investment in the Shares is highly speculative and involves a substantial and
high degree of risk of loss of the Holder's entire investment. The Holder has
adequate means of providing for current and anticipated financial needs and
contingencies, is able to bear the economic risk of the investment for an
indefinite period of time and could afford complete loss of such investment.

            (g) Brokers' Fees. No broker, finder or investment banker is
entitled to any brokerage, finder's or other fee or commission in connection
with the transactions contemplated hereby based upon arrangements made by or on
behalf of the Holder.

            (h) Due Organization and Good Standing of the Holder. The Holder has
been duly organized and is validly existing as an entity in good standing under
the laws of the state of

                                       4
<PAGE>
its organization, with all requisite power and authority under such laws to
enter into and perform its obligations under this Agreement.

            (i) Authorization of Agreement. This Agreement has been duly
authorized, executed and delivered by the Holder and constitutes a valid and
legally binding agreement of the Holder, enforceable against the Holder in
accordance with its terms, except as enforcement is limited by the
Enforceability Exceptions.

      7. INDEMNIFICATION AND CONTRIBUTION.

            7.1 Indemnification.

            (a) The Company (the "Indemnifying Party") hereby agrees to
indemnify each Holder and its agents and affiliates (collectively, the
"Indemnified Parties") against, and hold them harmless from, all losses, claims,
damages, liabilities, costs (including the costs of preparation and reasonable
attorneys' fees and expenses) (collectively, "Losses") incurred by them and
arising out of or related to the transactions contemplated by this Agreement as
a result of (i) any breach of any representation, warranty, agreement or
covenant of the Company contained herein, (ii) any allegations, claims or
investigations by shareholders or governmental entities of a breach of fiduciary
duty or other misconduct by the Company's officers or directors, and (iii) any
other shareholder derivative actions (it being understood that Losses shall
exclude any monetary loss resulting from the resale, or other decline in value,
of any Common Stock issued pursuant to this Agreement provided that such
exclusion shall not prevent the Indemnified Parties from seeking indemnification
or damages from the Indemnifying Party under any other applicable provision of
this Agreement), other than to the extent, and only to the extent, that any
Losses directly result from action on the part of any Indemnified Party which is
finally judicially determined to constitute either gross negligence or willful
misconduct. The Indemnifying Party agrees to reimburse any Indemnified Party for
all such Losses promptly after such Losses are finally judicially determined to
be subject to indemnification hereunder. The obligations of the Indemnifying
Party to each Indemnified Party hereunder shall be separate obligations and the
Indemnifying Party's liability to any such Indemnified Party hereunder shall not
be extinguished solely because any other Indemnified Party is not entitled to
indemnity hereunder.

            (b) The obligations of the Indemnifying Party under this Section 7.1
shall survive the termination of this Agreement; provided that the warranties
and representations of the Company and each Holder contained in or made pursuant
to this Agreement shall expire and terminate on the date that is eighteen (18)
months following the closing as set forth in Section 2 hereof (the "Closing");
provided further that such representations and warranties shall survive for the
duration of a claim, if any, for indemnification alleging a breach of such
representations or warranties that is made during such eighteen (18) months
following the Closing.

            (c) In case any action shall be brought against any Indemnified
Party with respect to which indemnity may be sought against the Indemnifying
Party hereunder, such Indemnified Party shall promptly notify the Indemnifying
Party in writing and the Indemnifying Party shall, if it so desires, assume the
defense thereof, including the employment of counsel reasonably satisfactory to
such Indemnified Party and payment of all reasonable fees and expenses. The
failure to so notify the Indemnifying Party shall not affect any obligation the

                                       5
<PAGE>
Indemnifying Party may have to any Indemnified Party under this Agreement or
otherwise unless the Indemnifying Party is materially adversely affected by such
failure. Each Indemnified Party shall have the right to employ separate counsel
in such action and participate in the defense thereof, but the fees and expenses
of such counsel shall be at the expense of the Indemnified Party unless: (i) the
Indemnifying Party has agreed in writing (other than pursuant to this Agreement)
to pay such expenses; or (ii) the Indemnifying Party, after timely notice of
such claim, has failed to assume the defense and employ counsel or (iii) the
named parties to any such action (including any impleaded parties) include any
Indemnified Party and the Indemnifying Party, and such Indemnified Party shall
have been reasonably advised by outside counsel that there may be one or more
legal defenses available to it which are inconsistent with or additional to
those available to the Indemnifying Party, provided that, if such Indemnified
Party notifies the Indemnifying Party in writing that it elects to employ
separate counsel in the circumstances described in clauses (i), (ii) or (iii)
above, the Indemnifying Party shall not have the right to assume the defense of
such action or proceeding; provided, however, that the Indemnifying Party shall
not, in connection with any one such action or proceeding or separate but
substantially similar or related actions or proceedings in the same jurisdiction
arising out of the same general allegations or circumstances, be responsible
hereunder for the fees and expenses of more than one such firm of separate
counsel (in addition to any necessary local counsel), which counsel shall be
designated by such Indemnified Party. The Indemnifying Party shall not be liable
for any settlement of any such action effected without its written consent
(which shall not be unreasonably withheld). The Indemnifying Party agrees that
it will not, without the Indemnified Parties' prior written consent (which shall
not be unreasonably withheld) settle or compromise any pending or threatened
claim, action or suit in respect of which indemnification or contribution may be
sought hereunder unless the foregoing contains an unconditional release of the
Indemnified Parties from all liability and obligation arising therefrom.

            7.2 Contribution.

            If the indemnification provided for in Section 7.1 is unavailable to
any Indemnified Party in respect of any Losses referred to therein, then the
Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall have
an obligation to contribute to the amount paid or payable by such Indemnified
Party as a result of such Losses in such proportion as is appropriate to reflect
the relative fault of the Indemnifying Party, its subsidiaries and/or any other
entity or person (other than the Holders and the other Indemnified Parties) and
such Indemnified Party in connection with the actions which resulted in such
Losses as well as any other relevant equitable considerations. The amount paid
or payable as a result of the Losses referred to above shall be deemed to
include, subject to the limitations set forth in Section 7.1, any legal or other
fees or expenses reasonably incurred by such Indemnified Party in connection
with any investigation, lawsuit or legal or administrative action or proceeding.

            The parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 7.2 were determined by pro rata allocation
or by any other method of allocation which does not take account of the
equitable considerations referred to in the immediately preceding paragraph. No
party guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any party
who was not guilty of such fraudulent misrepresentation.

                                       6
<PAGE>
      8. EXPENSES. The Company shall be responsible for all of its expenses
incident to the performance of its obligations under this Agreement, including
(i) the preparation, printing and delivery to the Holders of this Agreement, the
Conversion Shares, the 462 Registration Statement and such other documents as
may be required in connection with this Agreement, (ii) the fees and
disbursements of the Company's counsel, accountants and other advisors and (iii)
the fees and expenses of the Trustee, including the fees and disbursements of
counsel for the Trustee. In addition, the Company agrees to promptly reimburse
each Holder for the reasonable fees and expenses of Latham & Watkins LLP,
counsel for the Holders, in connection with the transactions contemplated
hereby, including all work done prior to the date hereof with respect to the
circumstances surrounding the Waiver and Amendment, upon submission of
reasonable invoices for the services of Latham & Watkins LLP (subject to
maintenance of the attorney-client privilege between Latham & Watkins LLP and
each Holder).

      9. MISCELLANEOUS.

            (a) Notices. All notices and other communications hereunder shall be
in writing and shall be deemed to have been duly given if mailed or transmitted
by any standard form of telecommunication. Notices to any Holder shall be
directed to the name and address of such Holder as set forth on Annex A attached
hereto, with a copy to Latham & Watkins LLP, 633 West Fifth Street, Suite 4000,
Los Angeles, CA 90071, Attention: Thomas C. Sadler, Esq., and notices to the
Company shall be directed to Coeur d'Alene Mines Corporation, 505 Front Avenue,
P.O. Box I, Coeur d'Alene, Idaho 83816-0316, Attention: General Counsel, with a
copy to Gibson, Dunn & Crutcher LLP, 333 South Grand Avenue, Los Angeles,
California 90071, Attention: Andrew E. Bogen, Esq.

            (b) Assignment. Neither the Company nor any Holder may assign or
delegate (whether by contract or operation of law, it being agreed that a merger
(other than a merger that does not constitute a "Change of Control" as defined
in the Indenture) shall be deemed to constitute an assignment) its rights,
duties or obligations under this Agreement without the prior written consent of
the other party hereto. Any attempted or purported assignment or delegation in
violation of the preceding sentence shall be void.

            (c) Amendment. Any term of this Agreement may be amended and the
observance of any term of this Agreement may be waived (either generally or in a
particular instance and either retroactively or prospectively), only with the
written consent of the Company and each of the Holders.

            (d) Counterparts; Facsimile. This Agreement may be executed in any
number of counterparts and by the parties hereto in separate counterparts, and
signature pages may be delivered by facsimile, each of which when so executed
shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement.

            (e) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE INTERNAL LAWS, AND NOT THE LAWS PERTAINING TO CONFLICTS
OR CHOICE OF LAW, OF THE STATE OF NEW YORK.

                                       7
<PAGE>
            (f) Effect of Headings. The Section headings herein are for
convenience only and shall not affect the construction hereof.

            (g) Severability. If any provision of this Agreement is held by a
court of competent jurisdiction to be unenforceable under applicable law, such
provision shall be replaced with a provision that accomplishes, to the extent
possible, the original business purpose of such provision in a valid and
enforceable manner, and the balance of the Agreement shall be interpreted as if
such provision were so modified and shall be enforceable in accordance with its
terms.

                            [SIGNATURE PAGE FOLLOWS]

                                       8
<PAGE>
      IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date above first written.

                                       COEUR D'ALENE MINES CORPORATION

                                       By:
                                           -------------------------------------
                                           Name:
                                           Title:

                                       HOLDERS:

                                       [NAME OF HOLDER]

                                       By:
                                           -------------------------------------
                                           Name:
                                           Title:

                 [signature page to Early Conversion Agreement]
<PAGE>
                                     ANNEX A

<TABLE>
<CAPTION>
HOLDER               Principal Amount
                      of Notes to be                          Total Shares to be
                       Converted        Indenture Shares 1          Received
-------------------------------------------------------------------------------
                      $
<S>                   <C>               <C>                    <C>
[Name of Holder]

Address of Holder:

-------------------

-------------------
Attn:
     --------------
Facsimile:
          ---------
</TABLE>

--------
1 For informational purposes only.

                                       A-1

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