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Exhibit 10.1

        The Compensation Package in this memorandum has been submitted to and
approved by the Compensation Committee of the Board of Directors of Evolving
Systems, Inc. This Compensation Plan (the "Plan") is effective during calendar
year 2005, and is provided to you to give you information regarding compensation
offered to you as [Insert Title]. This Plan supersedes all prior Compensation
plans or other compensation agreements, oral or written, you have with the
Company, other than stock options previously granted to you, the Management
Change in Control Agreement, as amended, and the Indemnification Agreement which
shall continue in full force and effect. Your Plan includes a base salary paid
in accordance with the normal payroll practices of Evolving Systems, as well as
eligibility for quarterly and annual incentive compensation.

        This Plan is not a contract of employment and shall not be construed to
guarantee employment for any particular period of time. All Evolving Systems'
employees are employed at will. You, or Evolving Systems, may terminate the
employment relationship at any time, with or without notice, for any reason or
no reason. The Plan may be changed or discontinued by the Company at any time
with or without prior notice.

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I.     Compensation

Annual Base Salary   [Insert Amount] Target Incentive Compensation   [Insert
applicable percentage] of Base Salary, paid as described below

B.    Incentive Compensation

        Incentive Compensation will be paid in five (5) equal payments, based
upon attainment of defined Company quarterly results and annual results.
Quarterly Incentive Compensation is computed and earned at the end of each
quarter in which you work; the Annual Incentive compensation is computed and
earned at the end of the calendar year. Three measurement categories will be
used as the basis for Incentive Compensation—Revenue, Profitability and Cash
Balance. The following criteria will apply:

Period

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  • Measure

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  • Combined Payout

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1st Quarter   Attainment of 1st Quarter Results, weighted 1/3rd on Revenue,
1/3rd on Profitability and 1/3rd on Cash Balance   20% of Target Incentive
Compensation 2nd Quarter   Attainment of 2nd Quarter Results, weighted 1/3rd on
Revenue, 1/3rd on Profitability and 1/3rd on Cash Balance   20% of Target
Incentive Compensation 3rd Quarter   Attainment of 3rd Quarter Results, weighted
1/3rd on Revenue, 1/3rd on Profitability and 1/3rd on Cash Balance   20% of
Target Incentive Compensation 4th Quarter   Attainment of 4th Quarter Results,
weighted 1/3rd on Revenue, 1/3rd on Profitability and 1/3rd on Cash Balance  
20% of Target Incentive Compensation Full Year   Attainment of Annual Results,
weighted 1/3rd on Revenue, 1/3rd on Profitability and 1/3rd on Cash Balance  
20% of Target Incentive Compensation

        Attainment of Quarterly and Annual Results, and the percentage payout
attributable to such attainment, will be determined based upon the Company
Targets established by the Board of Directors.

        In the event your employment terminates prior to the end of any calendar
quarter, for reasons other than Cause (as described below), the Quarterly
Incentive Compensation that would have been paid at the end of the calendar
quarter will be pro-rated to the date of termination of your employment. There
will be no pro-ration for the Annual Incentive Compensation; you must be
employed by the Company on December 31, 2005, to be eligible for the Annual
Incentive Compensation amount.

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I.     Severance

1)In the event your employment is terminated by the Company other than for
(a) Cause; (b) Disability; or (c) death, you will be paid severance compensation
in an amount equal to [insert applicable amount: three (3)(6) months] of your
then current Base Salary.

2)"Cause" and "Disability" for purposes of the severance provisions described in
this Section II shall mean:

(a)"Cause" shall mean:

(i)Willful action or failure to act by you that in the reasonable opinion of the
Board of Directors materially injures the reputation, business or business
relationships of the Company or any of its officers, directors or executives and
such action or failure is not remedied or reasonable steps to effect such remedy
are not commenced within ten (10) days following receipt of written notice;

(ii)Your failure to perform your duties or to follow the reasonable directions
of the Board of Directors of the Company within ten (10) business days after
receipt by you of written notice of such failure;

(iii)Any act involving moral turpitude or a crime, other than a vehicle offense
(excepting vehicular manslaughter), which could reflect in some material fashion
unfavorably upon the business or business relationships of the Company or any of
its officers, directors or executives.

(b)"Disability" shall mean a physical or mental impairment that substantially
limits a major life activity, other than on a temporary basis, which prevents
you from performing the essential functions of your job for any period, and for
which no reasonable accommodation can be made. As an officer of the Company, you
are considered a "key employee" under the Family and Medical Leave Act ("FMLA").
As such, you will be provided a reasonable opportunity to return to work from
any FMLA leave. However, the possibility exits that restoration to employment
may be denied following FMLA leave if the Company, in its sole discretion,
determines that your position is critical and must be filled.

3)In exchange for the severance payment described in this Section II, the
Company will require that you execute a Separation Agreement, in which you
release all claims against the Company arising out of your employment or
termination of your employment. In addition, the Separation Agreement will
provide that during the period of time during which you receive severance
payments you will refrain from (a) soliciting Evolving Systems' employees to
leave the employ of the Company; (b) interfering with the relationship of the
Company with any such employees, including, but not limited to, hiring such
employees; (c) targeting or soliciting customers of the Company to purchase
products or services in competition with the Company's products or services or
to terminate a relationship with the Company and (d) competing directly or
indirectly with the Company as is described in the Management Change in Control
Agreement.

4)Severance payments will be paid in equal installments, in the Company's normal
payroll cycle, over the applicable severance period. (The Company reserves the
right to modify this provision to comply with the provisions of the American
Jobs Creation Act.) Under no circumstances will the Company be obligated to pay
any amounts to you under this Section II if your employment has been terminated
by the Company for Cause, Disability or death.

5)The severance provisions of this 2005 Compensation Plan are not intended to
apply in the event of a Change in Control, as defined in the Management Change
in Control Agreement.

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Accordingly, if severance described in this Plan is paid, and the Management
Change in Control Agreement is subsequently triggered, payments made under this
Plan shall be credited against, and shall NOT be in addition to, amounts paid
under the Change In Control Agreement.

III.  Benefits

        You will receive benefits in accordance with the Company's standard
benefits plan and policies, with the following modifications:

        1.    Paid Time Off:    Your Paid Time Off (PTO) will be set at one
level above the "standard" rates for employees, as follows:

Years of Service

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  Hours Accrued per Pay Period

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  Annual # of Days of PTO

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0-2   6.16   20 3-5   7.69   25 6+   9.23   30

You will be expected to record your PTO in accordance with standard Company
policy and all other provisions of the Company's PTO policy will apply.

        2.    Life Insurance Benefits:    In addition to the standard life
insurance benefits payable to employees of the Company, the Company will provide
life insurance to you in the amount of $300,000, subject to your insurability.
The Company pays the premium, but the premium attributable to insurance over
$50,000 is taxable to you.

        3.    Disability Benefits:    The Company will provide you with short
term and long term disability insurance coverage per the Company's general plan
for all employees. The general plan for employees pays benefits at the rate of
662/3% of your base pay, with a base pay cap of $8,501 per month (resulting in
total monthly benefit payable to you under the Company plan of $5,667). This
benefit, if payable, terminates at age 65. In addition, the Company will make
available to you, at your expense, additional long term disability coverage that
will pay the lesser of the difference between 662/3% of your monthly base salary
and the benefit provided under the general Company plan or $6,000 per month.
(For example, if your monthly base salary is $15,000, the additional long-term
disability policy will provide $4,334, the difference between the general
Company plan benefit ($5,667) and 662/3% of your base salary.) This additional
benefit is payable until age 65, or, in some cases has a 5 year payout. If you
have any questions about the disability benefits, please see the HR Director.

        4.    Upgrade to First Class/Business Travel.    Upgrades to first class
domestic travel/business class international travel will be made available to
you using airline upgrade certificates. However, the Company expects that you
not use this privilege when traveling with another employee unless that employee
has the ability to upgrade (i.e. because of frequent flyer miles). This benefit
does NOT imply that you are authorized to buy first class tickets.

        5.    Miscellaneous Benefits.    The Company will provide you with a
cell phone and cell phone service and reimburse you for the cost (basic service)
of a second phone line to your home. You will also be provided with a laptop
computer and a second docking station to be used in your home.

IV.    SEC Filing Requirements.

        You will be considered an "Executive Officer" for purposes of the SEC
rules relating to trading of stock and reporting your stock trading. You are
required to pre-clear your trading in Company stock with the Company's General
Counsel prior to buying or selling Company stock. You are expected to
familiarize yourself with the Insider trading regulations and to comply with
those regulations, in

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particular, to abide by Company trading-blackout rules and to advise the
Company's General Counsel in advance of all stock trades so that appropriate SEC
forms can be timely filed.

•Acknowledgment

        I have received and read my 2005 Compensation Plan. I understand the
details of the Plan and how it applies to me. I acknowledge that the Plan
represents Confidential and Proprietary Information of Evolving Systems. I
understand that the Plan may be changed or discontinued by the Company at any
time with or without notice, and that no representations or promises, either
express or implied, have been made to me about my continued employment, about my
compensation or about the Plan other than what is written here or in any
Management Change in Control Agreement that may be executed. I understand the
responsibilities of my position and the critical nature of the performance of
this position on the success of Evolving Systems. I understand that I am
employed on an at-will basis, and that this Plan does not alter or modify the
at-will nature of my employment. I understand that I can resign my position at
any time, or Evolving Systems can terminate my employment at any time, with or
without prior written notice. I agree that the compensation I receive under the
Plan is fair and adequate compensation for my services.

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[Name of Executive Officer]
 

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Date
 
 

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Exhibit 10.1