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Exhibit 10.1

Execution Copy

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TELETECH HOLDINGS, INC.

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FIRST AMENDMENT
Dated as of February 1, 2003

to

NOTE PURCHASE AGREEMENT
Dated as of October 1, 2001

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Re:        $60,000,000 7.00% Senior Notes, Series A, due October 31, 2008
              $15,000,000 7.40% Senior Notes, Series B, due October 31, 2011

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FIRST AMENDMENT TO NOTE PURCHASE AGREEMENT

        THIS FIRST AMENDMENT dated as of February 1, 2003 (the or this "First
Amendment") to that certain Note Purchase Agreement dated as of October 1, 2001
is between TeleTech Holdings, Inc., a Delaware corporation (the "Company"), and
each of the institutional investors listed on the signature pages hereto
(collectively, the "Noteholders")

RECITALS:

        A.    The Company and each of the Noteholders have heretofore entered
into that certain Note Purchase Agreement dated as of October 1, 2001 (the "Note
Purchase Agreement"). The Company has heretofore issued (i) $60,000,000
aggregate principal amount of its 7.00% Senior Notes, Series A, due October 31,
2008 (the "Series A Notes") and (ii) $15,000,000 aggregate principal amount of
its 7.40% Senior Notes, Series B, due October 31, 2011 (the "Series B Notes";
said Series B Notes together with the Series A Notes are hereinafter
collectively referred to as the "Notes") pursuant to the Note Purchase
Agreement. The Noteholders are the holders of 100% of the outstanding principal
amount of the Notes.

        B.    The Company and the Noteholders now desire to amend the Note
Purchase Agreement in the respects, but only in the respects, hereinafter set
forth.

        C.    Capitalized terms used herein shall have the respective meanings
ascribed thereto in the Note Purchase Agreement unless herein defined or the
context shall otherwise require.

        D.    All requirements of law have been fully complied with and all
other acts and things necessary to make this First Amendment a valid, legal and
binding instrument according to its terms for the purposes herein expressed have
been done or performed.

        Now, THEREFORE, upon the full and complete satisfaction of the
conditions precedent to the effectiveness of this First Amendment set forth in
Section 3.1 hereof, and in consideration of good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the Company and the
Noteholders do hereby agree as follows:

SECTION 1.    AMENDMENTS.

        1.1.  The definition of "Consolidated EBITDA" contained in Schedule B to
the Note Purchase Agreement shall be and is hereby amended by (a) deleting the
word "and" at the end of clause (2) thereof and inserting a comma "," in lieu
thereof, (b) inserting the following ", and (4) all non-cash charges resulting
from the expensing of stock options by the Company or any of its Restricted
Subsidiaries during such period" at the end of clause (3) thereof and
(c) amending the second paragraph thereof in its entirety and restating such
paragraph as follows:

        "For purposes of determining "Consolidated EBITDA," there shall be added
back to Consolidated Net Income for the fiscal quarter ended December 31, 2002,
non-cash charges arising from the application of SFAS 144 by the Company and its
Restricted Subsidiaries during such fiscal quarter in an amount equal to the
lesser of (x) the actual amount of such non-cash charges included in calculating
Consolidated Net Income for such fiscal quarter and (y) $35,000,000."

SECTION 2.    REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

        2.1.  To induce the Noteholders to execute and deliver this First
Amendment (which representations shall survive the execution and delivery of
this First Amendment), the Company represents and warrants to the Noteholders
that:

        (a)   this First Amendment has been duly authorized, executed and
delivered by it and this First Amendment constitutes the legal, valid and
binding obligation, contract and agreement of the Company enforceable against it
in accordance with its terms, except as enforcement may be limited by
bankruptcy, insolvency, reorganization, moratorium or similar laws or equitable
principles relating to or limiting creditors' rights generally;

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        (b)   the Note Purchase Agreement, as amended by this First Amendment,
constitutes the legal, valid and binding obligation, contract and agreement of
the Company enforceable against it in accordance with its terms, except as
enforcement may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws or equitable principles relating to or limiting creditors'
rights generally;

        (c)   the execution, delivery and performance by the Company of this
First Amendment (i) has been duly authorized by all requisite corporate action
and, if required, shareholder action, (ii) does not require the consent or
approval of any governmental or regulatory body or agency, and (iii) will not
(A) violate (1) any provision of law, statute, rule or regulation or its
certificate of incorporation or bylaws, (2) any order of any court or any rule,
regulation or order of any other agency or government binding upon it, or
(3) any provision of any indenture, agreement or other instrument to which it is
a party or by which its properties or assets are or may be bound, or (B) result
in a breach or constitute (alone or with due notice or lapse of time or both) a
default under any indenture, agreement or other instrument referred to in
clause (iii)(A)(3) of this Section 2.1(c);

        (d)   as of the date hereof and after giving effect to this First
Amendment, no Default or Event of Default has occurred which is continuing; and

        (e)   all the representations and warranties contained in Section 5 of
the Note Purchase Agreement are true and correct in all material respects with
the same force and effect as if made by the Company on and as of the date
hereof.

SECTION 3.    CONDITIONS TO EFFECTIVENESS OF THIS FIRST AMENDMENT.

        3.1.  Upon satisfaction of each and every one of the following
conditions, this First Amendment shall become effective as of December 31, 2002:

        (a)   executed counterparts of this First Amendment, duly executed by
the Company and the holders of at least 50% of the outstanding principal of the
Notes, shall have been delivered to the Noteholders;

        (b)   each Subsidiary Guarantor shall have duly executed the
reaffirmation of Subsidiary Guaranty Agreement attached hereto;

        (c)   the representations and warranties of the Company set forth in
Section 2 hereof are true and correct on and with respect to the date hereof;

        (d)   each holder of a Note shall have received evidence satisfactory to
it that the Credit Agreement dated as of October 29, 2002 among the Company,
each lender from time to time party thereto and Bank of America, N.A., as
Administrative Agent, Swing Line Lender and L/C Issuer, has been amended in
substantially the same manner as the Note Purchase Agreement has been amended by
this First Amendment and otherwise in form and substance reasonably satisfactory
to the holders of Notes;

        (e)   each holder of a Note shall have received, by payment in
immediately available funds to the account of such holder set forth in
Schedule A to the Note Purchase Agreement the amount set forth opposite such
holder's name in Schedule 1 attached hereto; and

        (f)    the Company shall have paid the fees and expenses of Schiff
Hardin & Waite, special counsel to the Noteholders, in connection with the
negotiation, preparation, approval, execution and delivery of this First
Amendment.

Upon receipt of all of the foregoing, this First Amendment shall become
effective.

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SECTION 4.    MISCELLANEOUS.

        4.1.  This First Amendment shall be construed in connection with and as
part of the Note Purchase Agreement, and except as modified and expressly
amended by this First Amendment, all terms, conditions and covenants contained
in the Note Purchase Agreement and the Notes are hereby ratified and shall be
and remain in full force and effect.

        4.2.  Any and all notices, requests, certificates and other instruments
executed and delivered after the execution and delivery of this First Amendment
may refer to the Note Purchase Agreement without making specific reference to
this First Amendment but nevertheless all such references shall include this
First Amendment unless the context otherwise requires.

        4.3.  The descriptive headings of the various Sections or parts of this
First Amendment are for convenience only and shall not affect the meaning or
construction of any of the provisions hereof.

        4.4.  This First Amendment shall he governed by and construed in
accordance with the laws of the State of New York.

[Remainder of page intentionally left blank.]

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        4.5.  The execution hereof by you shall constitute a contract between us
for the uses and purposes hereinabove set forth, and this First Amendment may be
executed in any number of counterparts, each executed counterpart constituting
an original, but all together only one agreement.

 
 
TELETECH HOLDINGS, INC.
 
 
By
 

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Its
Accepted and Agreed to:
 
 
 
 
 
 
 
 
THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
 
 
By
 

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Name:
Its Authorized Representative
 
 
CONNECTICUT GENERAL LIFE INSURANCE COMPANY
 
 
By:
 
CIGNA Investments, Inc.
 
 
 
 
By
 

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Name:
Title:
 
 
LIFE INSURANCE COMPANY OF NORTH AMERICA
 
 
By:
 
CIGNA Investments, Inc.
 
 
 
 
By
 

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Name:
Title:
 
 
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
 
 
By
 

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Name:
Title:              

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THE GUARDIAN INSURANCE & ANNUITY COMPANY, INC.
 
 
By
 

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Name:
Title:
 
 
FORT DEARBORN LIFE INSURANCE COMPANY
 
 
By:
 
Guardian Investor Services LLC
 
 
 
 
By
 

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Name:
Title:
 
 
NATIONWIDE LIFE INSURANCE COMPANY
 
 
By
 

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Name:
Title:
 
 
NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY
 
 
By
 

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Name:
Title:

5

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Fee Schedule

The Northwestern Mutual Life Insurance Company   $ 27,000 Connecticut General
Life Insurance Company   $ 3,000 Connecticut General Life Insurance Company   $
3,000 Connecticut General Life Insurance Company   $ 3,000 Connecticut General
Life Insurance Company   $ 3,000 Connecticut General Life Insurance Company   $
3,000 Connecticut General Life Insurance Company   $ 1,000 Connecticut General
Life Insurance Company   $ 1,000 Life Insurance Company of North America   $
3,000 The Guardian Life Insurance Company of America   $ 5,000 The Guardian Life
Insurance Company of America   $ 5,000 The Guardian Life Insurance Company of
America   $ 5,000 The Guardian Insurance & Annuity Company, Inc.   $ 1,500 Fort
Dearborn Life Insurance Company   $ 1,000 Fort Dearborn Life Insurance Company  
$ 500 Nationwide Life Insurance Company   $ 7,000 Nationwide Life and Annuity
Insurance Company   $ 3,000   Total:   $ 75,000

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Reaffirmation of Subsidiary Guaranty Agreement

The undersigned Subsidiary Guarantors hereby acknowledge and agree to the
foregoing First Amendment to Note Purchase Agreement and reaffirm the Subsidiary
Guaranty Agreement dated as of October 1, 2001 given in favor of each Noteholder
and their respective successors and assigns:

 
 
TTEC NEVADA, INC.
TELETECH CUSTOMER SERVICES, INC.
 
 
By
 

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Christy O'Connor
President
 
 
NEWGEN RESULTS CORP.
CARABUNGA.COM, INC.
NEWGEN MANAGEMENT SERVICES, INC.
NEWGEN DEALER PRICING CENTER, INC.
 
 
By
 

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Christy O'Connor
Assistant Secretary              

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TELETECH SERVICES CORPORATION
TELETECH CUSTOMER CARE MANAGEMENT (COLORADO), INC.
TELETECH CUSTOMER CARE MANAGEMENT (NEW YORK), INC.
TELETECH FACILITIES MANAGEMENT (PARCEL CUSTOMER SUPPORT), INC.
TELETECH FACILITIES MANAGEMENT (POSTAL CUSTOMER SUPPORT), INC.
TELETECH CUSTOMER CARE MANAGEMENT (CALIFORNIA), INC.
T-TEC LABS, INC.
TELETECH CUSTOMER CARE MANAGEMENT (TELECOMMUNICATIONS), INC.
TELETECH CUSTOMER CARE MANAGEMENT, INC.
TELETECH CUSTOMER CARE MANAGEMENT (WEST VIRGINIA), INC.
TELETECH CUSTOMER CARE MANAGEMENT (SOUTH AMERICA), INC.
TELETECH CUSTOMER CARE MANAGEMENT (TEXAS), INC.
TELETECH CUSTOMER CARE MANAGEMENT (GENERAL), INC.
TELETECH CUSTOMER CARE SOLUTIONS (JAPAN), INC.
TELETECH SOUTH AMERICA HOLDINGS, INC.
TELETECH INTERNATIONAL HOLDINGS, INC.
EDM INTERNATIONAL, INC.
 
 
By
 

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Margot O'Dell
Chief Financial Officer and Executive Vice President, International Operations

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QuickLinks

Exhibit 10.1

FIRST AMENDMENT TO NOTE PURCHASE AGREEMENT
RECITALS
Fee Schedule
Reaffirmation of Subsidiary Guaranty Agreement