Document:

<PAGE>   1
                                                                   EXHIBIT 10.33

            AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT

         THIS AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT (this
"Amendment"), dated as of June 22, 2001, is by and among SYKES ENTERPRISES,
INCORPORATED, a Florida corporation (the "Borrower"), certain Subsidiaries of
the Borrower, as Guarantors (the "Guarantors"), the various lending institutions
parties hereto and BANK OF AMERICA, N.A., a national banking association, as
agent for the Lenders (in such capacity, the "Agent").

                              W I T N E S S E T H:

         WHEREAS, the Borrower, the Guarantors, the various lending institutions
parties hereto and the Agent are parties to that certain Amended and Restated
Credit Agreement, dated as of May 2, 2000, (the "Existing Credit Agreement");
and

         WHEREAS, the Borrower, the Guarantors, the Required Lenders (as defined
in the Existing Credit Agreement) and the Agent have agreed to amend the
Existing Credit Agreement as set forth herein.

         NOW, THEREFORE, in consideration of the agreements herein contained,
the parties hereby agree as follows:

                                        I
                                   DEFINITIONS

         SECTION 1.1. Certain Definitions. Unless otherwise defined herein or
the context otherwise requires, terms used in this Amendment, including its
preamble and recitals, have the following meanings (such meanings to be equally
applicable to the singular and plural forms thereof):

         "Amended Credit Agreement" means the Existing Credit Agreement as
amended hereby.

         "Amendment No. 1 Effective Date" is defined in Section 3.1.

         SECTION 1.2. Other Definitions. Unless otherwise defined herein or the
context otherwise requires, terms used in this Amendment, including its preamble
and recitals, have the meanings provided in the Amended Credit Agreement.

                                       II
                     AMENDMENTS TO EXISTING CREDIT AGREEMENT

         Effective as of the Amendment No. 1 Effective Date, the Existing Credit
Agreement is hereby amended in accordance with these Sections 2.1 through 2.5.
Except as so amended, the Existing Credit Agreement, the Notes and the other
Credit Documents shall continue in full force and effect.

         SECTION 2.1.  Amendments to Section 1.

                  (a)      Section 1.1 of the Existing Credit Agreement is
         hereby amended by inserting, in the alphabetically appropriate place,
         the following definition:

                           "Amendment No. 1" means Amendment No. 1 to Credit
                  Agreement, dated as of June 22, 2001, among the Borrower, the
                  Guarantors, the Required Lenders and the Agent, amending this
                  Credit Agreement as then in effect.

<PAGE>   2
                  (b)      Section 1.1 of the Existing Credit Agreement is
         hereby amended by amending in their entirety the definitions for
         "Aggregate Revolving Committed Amount" and "Applicable Percentage" to
         read as follows:

                           "Aggregate Revolving Committed Amount" means the
                  aggregate amount of Revolving Commitments in effect from time
                  to time, being currently ONE HUNDRED MILLION DOLLARS
                  ($100,000,000).

                           "Applicable Percentage" means for any day, the rate
                  per annum set forth below opposite the applicable Consolidated
                  Leverage Ratio then in effect, it being understood that the
                  Applicable Percentage for (i) Base Rate Loans shall be the
                  percentage set forth under the column "Base Rate Margin", (ii)
                  Eurocurrency Loans and the Letter of Credit Fee shall be the
                  percentage set forth under the column "Eurocurrency Margin and
                  Letter of Credit Fee" and (iii) the Commitment Fee shall be
                  the percentage set forth under the column "Commitment Fee".

<TABLE>
<CAPTION>
                     Pricing         Consolidated          Base Rate          Eurocurrency         Commitment
                      Level            Leverage              Margin       Margin and Letter of        Fee
                                         Ratio                                 Credit Fee
                   ------------- ---------------------- ----------------- ---------------------- ---------------
                   <S>           <C>                    <C>               <C>                    <C>
                        I               > 1.75               0.50%                2.25%              0.40 %
                        II        > 1.25 but <= 1.75         0.25%                2.00%              0.375%
                       III        > 0.75 but <= 1.25            0%                1.75%              0.35 %
                        IV        > 0.25 but <= 0.75            0%                1.50%              0.325%
                        V               <= 0.25                 0%                1.25%              0.30 %
</TABLE>

                  The Applicable Percentage shall be determined and adjusted
                  quarterly on the date five (5) Business Days after the date by
                  which the annual and quarterly compliance certificates and
                  related financial statements and information are required in
                  accordance with the provisions of Sections 7.1(a) and (b) and
                  Section 7.2(b), as appropriate (each date of a rate change as
                  described in the sentence hereafter referred to as a "Rate
                  Determination Date"); provided that (i) the current Applicable
                  Percentages shall be based on Pricing Level V, shall be
                  effective on the Amendment No. 1 Effective Date and shall be
                  adjusted as shown above based on the Consolidated Leverage
                  Ratio; and (ii) in the event an annual or quarterly compliance
                  certificate and the related financial statements and
                  information are not delivered timely by the date required by
                  the provisions of Sections 7.1(a) and (b) and Section 7.2(b),
                  as appropriate, the Applicable Percentages shall be based on
                  Pricing Level I until such time as an appropriate compliance
                  certificate and the related financial statements and
                  information are delivered, whereupon the applicable Pricing
                  Level shall be adjusted based on the information contained in
                  such compliance certificate and related financial statements
                  and information. The Applicable Percentage shall be effective
                  from a Rate Determination Date until the next such Rate
                  Determination Date. The Agent shall determine the appropriate
                  Applicable Percentages in the pricing matrix that is based on
                  the Consolidated Leverage Ratio promptly upon receipt of the
                  quarterly or annual compliance certificate and related
                  financial information and shall promptly notify the Borrower
                  and the Lenders of any change thereof. Such determinations by
                  the Agent shall be conclusive absent manifest error.
                  Adjustments in the Applicable Percentages shall be effective
                  as to existing Extensions of Credit as well as new Extensions
                  of Credit made thereafter.

         SECTION 2.2. Amendment to Sections 7.9(b) and 7.9(c). Sections 7.9(b)
and 7.9(c) of the Existing Credit Agreement are hereby amended in their entirety
to read as follows:

<PAGE>   3

                  (b)      Consolidated Leverage Ratio. There shall be
         maintained, as of the end of each fiscal quarter (commencing with the
         fiscal quarter ending June 30, 2001), a Consolidated Leverage Ratio of
         not greater than 2.50 to 1.0.

                  (c)      Consolidated Fixed Charge Coverage Ratio. There shall
         be maintained, as of the last day of each fiscal quarter, a
         Consolidated Fixed Charge Coverage Ratio of no less than the ratio
         shown below opposite the applicable period corresponding thereto:

<TABLE>
<CAPTION>
                                  Period                                             Ratio
                                  ------                                             -----
                  <S>                                                              <C>
                  Through June 30, 2001                                            1.40 to 1.00
                  July 1, 2001 through September 30, 2001                          1.70 to 1.00
                  October 1, 2001 through December 31, 2001                        2.00 to 1.00
                  January 1, 2002 and thereafter                                   2.20 to 1.00
</TABLE>

         SECTION 2.3. Amendment to Sections 8.3(d) and 8.3(e). Sections 8.3(d)
and 8.3(e) of the Existing Credit Agreement are hereby amended in their entirety
to read as follows:

                  (d)      Acquire all or any portion of the capital stock or
         securities of any other Person or purchase, lease or otherwise acquire
         (in a single transaction or a series of related transactions) all or
         any substantial part of the Property of any other Person, unless (i)
         the aggregate cash cost of any such individual acquisition (which
         includes assumed Indebtedness) in any fiscal year shall not exceed
         $25,000,000; and (ii) the aggregate cash cost of all such acquisitions
         (which shall include assumed Indebtedness) shall not in any fiscal year
         exceed $50,000,000; provided, however, the foregoing restrictions shall
         only be applicable to a particular transaction if, after giving effect
         to such transaction, Consolidated Funded Debt exceeds cash and Cash
         Equivalents of the Consolidated Group;

                  (e)      Make Capital Expenditures in any fiscal year in
         excess of 25% of revenues for the prior fiscal year; provided, however,
         the foregoing restriction shall only be applicable to a particular
         transaction if, after giving effect to such transaction, Consolidated
         Funded Debt exceeds cash and Cash Equivalents of the Consolidated
         Group.

         SECTION 2.4. Amendment to Section 8.7. Section 8.7 of the Existing
Credit Agreement is hereby amended in its entirely to read as follows:

                  8.7      RESTRICTED PAYMENTS.

                  Make or permit any Restricted Payments if such Restricted
         Payment would (i) cause the Borrower to be in violation of any of the
         financial covenants set forth in Section 7.9 or (ii) in any fiscal
         year, cause the aggregate amount of all Restricted Payments in such
         fiscal year to exceed five percent (5%) of Consolidated Net Worth as of
         the end of the preceding fiscal year.

         SECTION 2.5. Amendment to Schedules. Effective on (and subject to the
occurrence of) the Amendment No. 1 Effective Date, Schedule 2.1(a) and Schedule
6.6 to the Existing Credit Agreement are hereby deleted in their entirety and
new Schedules 2.1(a) and 6.6 attached hereto are substituted therefor.

                                       III
                           CONDITIONS TO EFFECTIVENESS

         SECTION  3.1. Amendment No. 1 Effective Date. This Amendment shall be
and become effective as of the date hereof (the "Amendment No. 1 Effective
Date") when all of the conditions set forth in this Section 3.1 shall have been
satisfied, and thereafter, this Amendment No. 1 shall be known, and may be
referred to, as "Amendment No. 1."

<PAGE>   4

                  SECTION  3.1.1. Execution of Counterparts. The Agent shall
         have received (including by telecopy) counterparts of this Amendment
         No. 1 which shall have been duly executed on behalf of the Borrower,
         the Guarantors, the Agent and the Required Lenders.

                  SECTION  3.1.2. Legal Details, Etc. All documents executed or
         submitted pursuant hereto shall be reasonably satisfactory in form and
         substance to the Agent and its counsel prior to or by the time of
         closing. Prior to or by the time of closing, the Agent and its counsel
         shall have received all information, and such counterpart originals or
         such certified or other copies of such originals, as the Agent or its
         counsel may reasonably request, and all legal matters incident to the
         transactions contemplated by this Amendment No. 1 shall be reasonably
         satisfactory to the Agent and its counsel.

                  SECTION 3.1.3. Payment of Amendment Fee. The Borrower shall
         have paid to the Agent a fee in connection with this Amendment in an
         amount equal to 0.20% multiplied by the aggregate Revolving Commitments
         (after giving effect to this Amendment) of the Consenting Lenders (as
         defined below) such fee being for the account of each such Lender pro
         rata according to such Lender's Revolving Commitment; provided,
         however, that such fee shall be payable only to those Lenders (the
         "Consenting Lenders") that shall have returned executed signature pages
         to this Amendment no later than 5:00 P.M. EDT on Thursday, June 21,
         2001, as directed by the Agent.

                                       IV
                                  MISCELLANEOUS

         SECTION 4.1. Representations and Warranties. The Borrower hereby
represents and warrants to the Agent and the Lenders that, after giving effect
to this Amendment, (a) no Default or Event of Default exists under the Amended
Credit Agreement or any of the other Credit Documents and (b) the
representations and warranties set forth in Section 6 of the Amended Credit
Agreement are, subject to the limitations set forth therein, true and correct in
all material respects as of the date hereof (except for those which expressly
relate to an earlier date).

         SECTION 4.2. Cross-References. References in this Amendment to any
Section are, unless otherwise specified, to such Section of this Amendment.

         SECTION 4.3. Instrument Pursuant to Existing Credit Agreement. This
Amendment is a document executed pursuant to the Existing Credit Agreement and
shall (unless otherwise expressly indicated therein) be construed, administered
and applied in accordance with the terms and provisions of the Existing Credit
Agreement.

         SECTION 4.4. Credit Documents. The Borrower and the Guarantors hereby
confirm and agree that the Credit Documents are, and shall continue to be, in
full force and effect, and hereby ratify and confirm in all respects their
obligations thereunder, except that, upon the effectiveness of, and on and after
the date of this Amendment, all references in each Credit Document to the
"Credit Agreement", "thereunder", "thereof" or words of like import referring to
the Existing Credit Agreement shall mean the Amended Credit Agreement.

         SECTION 4.5. Counterparts, Effectiveness, Etc. This Amendment may be
executed by the parties hereto in several counterparts, each of which shall be
deemed to be an original and all of which shall constitute together but one and
the same agreement. Delivery of executed counterparts of this Amendment by
telecopy shall be effective as an original and shall constitute a representation
that an original shall be delivered.

         SECTION 4.6. Governing Law; Entire Agreement. THIS AMENDMENT SHALL BE
DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE
STATE OF NORTH CAROLINA WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES
THEREOF.

         SECTION 4.7. Successors and Assigns. This Amendment shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

<PAGE>   5

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective duly authorized officers as of the day and year
first above written.

BORROWER:                     SYKES ENTERPRISES, INCORPORATED

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

GUARANTORS:                   SYKES REALTY, INC.

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

                              SYKES E-COMMERCE INCORPORATED

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

LENDERS:                      BANK OF AMERICA, N.A., individually in its
                              capacity as a Lender and in its capacity as Agent

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

                              SUNTRUST BANK

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

                              FIRST UNION NATIONAL BANK

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

<PAGE>   6

                              BANK ONE, NA (formerly known as The First National
                              Bank of Chicago)

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

                              FLEET NATIONAL BANK

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

                              SOUTHTRUST Bank, formerly known as SouthTrust
                              Bank, National Association

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

                              BANQUE NATIONALE DE PARIS,
                              HOUSTON AGENCY

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

<PAGE>   7
                                 Schedule 2.1(a)
                       Schedule of Lenders and Commitments

<TABLE>
<CAPTION>
                                                                                              Revolving
                                                  Revolving                                   Commitment
Lender                                            Committed Amount                            Percentage
<S>                                               <C>                                         <C>

Bank of America, N.A.                             $ 20,000,000                                 20.0%
100 N. Tryon Street
17th Floor
Charlotte, North Carolina 28255
Attn:  John E. Williams
Telephone:  (704) 388-3234
Telecopy:   (704) 388-0960
jack.williams@bankofamerica.com

SunTrust Bank                                     $ 20,000,000                                 20.0%
401 E. Jackson Street
20th Floor
Tampa, Florida 33602
Attn:  Jennifer Williams
Telephone:  (813) 224-2073
Telecopy:   (813) 224-2833
jennifer.williams@suntrust.com

First Union National Bank                         $ 16,666,666                                 16.7%
100 S. Ashley Drive
Suite 1000
Tampa, Florida 33602
Attn:  John Watts
Telephone:  (813) 276-6421
Telecopy:   (813) 276-6499
john.watts2@firstunion.com

Bank One, NA                                      $ 11,666,667                                 11.7%
Bank One Plaza
Suite IL1-0324, 10th Floor
Chicago, Illinois 60670
Attn:  Curtis A. Price
Telephone:  (312) 732-1542
Telecopy:   (312) 732-2991

Fleet National Bank                               $ 11,666,667                                 11.7%
100 Federal Street
MA BOS 1-7-6
Boston, Massachusetts 02110
Attn:  Thomas Engels
Telephone:  (617) 434-4526
Telecopy:   (617) 434-8102
thomas_engels@fleet.com
</TABLE>

<PAGE>   8
<TABLE>
<S>                                               <C>                                          <C>
SouthTrust Bank                                   $ 10,000,000                                 10.0%
420 North 20th Street
Birmingham, AL 35203
Attn: Florida Corporate Banking (Tampa)
Telephone: (813) 226-0256
Telecopy:  (813) 226-0905
leslie.fredericks@southtrust.com

Banque Nationale de Paris                         $ 10,000,000                                 10.0%
Houston Agency
333 Clay, Suite 3400
Houston, Texas 77002
Attn:  John Stacy
Telephone: (713) 951-1222
Telecopy:  (713) 659-1414
john.stacy@am.bnpgroup.com

                                                  $100,000,000                                100.00%
</TABLE>
<PAGE>   9

                                  SCHEDULE 6.6

                               MATERIAL LITIGATION

         Taken individually, the matters described below could reasonable be
expected, in the event of an unfavorable outcome, to result in a loss in excess
of $1 million. Matters which could not reasonable be expected, in the event of
an unfavorable outcome, to result in a loss in excess of $1 million are not
listed.

         1.       Shareholder class action lawsuits.

         Sixteen purported class action lawsuits have been filed against
Borrower and certain of it officers alleging violations of federal securities
laws. All of the actions have been consolidated into one case which is pending
in the United States District Court for the Middle District of Florida. The
plaintiffs purport to assert claims on behalf of a class of purchasers of the
Borrower's common stock during the period from July 27, 1998 through September
18, 2000.

                  a.       Procedural posture of the litigation.

                  All of the cases filed have been consolidated into one action
before one judge. The lead plaintiff has filed an amended complaint and the
Borrower and the other defendants filed a motion to dismiss. The court did not
grant the motion to dismiss and the Borrower has filed its answer to the amended
complaint. Plaintiffs have filed a motion for class certification. The
plaintiffs have propounded extensive requests for the production of documents to
which the Borrower has begun responding.

                  b.       Overview of the facts.

                  The consolidated action claims violations of Sections 10(b)
and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated
thereunder. Among other things, the consolidated action alleges that during
2000, 1999 and 1998, the Borrower and certain of its officers made materially
false statements concerning the Borrower's financial condition and its future
prospects. The consolidated complaint also claims that certain of the Borrower's
quarterly financial statements during 1999 and 1998 were not prepared in
accordance with generally accepted accounting principles.

                  c.       Insurance coverage.

                  The Borrower maintained during the period pertinent to the
consolidated complaint, $20 million of directors and officers insurance coverage
for both it and its officers and directors. The deductible of $250,000 has been
met. The primary carrier, National Union, has issued a coverage and reservation
of rights letter that raises the potential of a lack of coverage solely under
exclusions that are typically raised at the early stages of cases such as these.

                  d.       Conclusion.

                  The Borrower's potential loss exposure depends on numerous
variables such as the ruling on the motion for class certification (which could
narrow the number of claimants in the class), the ability of the plaintiff's to
prove that the diminution in Borrower's market capitalization proximately and
actually resulted from any of the conduct alleged in the complaint, and the
performance of the Borrower's stock price in the relatively near future.

         2.       Sykes Realty, Inc. adv. Bogatay Construction, Inc.

         One of the Borrower's subsidiaries, Sykes Realty, Inc. ("Sykes
Realty"), filed a complaint against Bogatay Construction, Inc. ("Bogatay") on or
about September 8, 1999, alleging defects in the Borrower's Klamath Falls,
Oregon call center facility, which Bogatay constructed. Sykes Realty believes
that it has suffered or will suffer damages in the approximate amount of $1.3
million as a result of Bogatay's faulty construction work. Bogatay filed a
counterclaim against the Borrower and one of its employees, David Reule for
indemnification concerning the

<PAGE>   10
damages that Sykes Realty sought from Bogatay. Prior to trial, which occurred in
the second quarter of 2001, Sykes Realty's insurance carrier, paid $1 million to
Sykes Realty in full settlement of its obligations under the insurance policy.
At the conclusion of the trial, the jury awarded Sykes Realty the approximate
sum of $550,000. Bogatay has informally indicated that it intends to appeal the
verdict, but has offered to give up its appeal for a reduction in the award.

         3.       Kyrus Corporation adv. Sykes Enterprises, Incorporated.

         Litigation is pending in the Court of Common Pleas for Greenville
County, South Carolina. The Borrower has been sued by Kyrus Corporation, a South
Carolina corporation, with respect to certain contractual arrangements between
the parties, regarding a Software License and Software Contracts Assignment
Agreement (the "License/Agreement"), under which the Borrower licensed to Kyrus
certain software and assigned to Kyrus certain customer (end-user) contracts
relating to those customers' use of the licensed software. The License/Agreement
is dated on or about July 1998.

                  a.       Claims.

                  First, Kyrus alleges that the Borrower breached its express
and implied warranties under the License/Agreement, including those of
merchantability and fitness for a particular purpose, by reason that the
software was not functional, did not conform to specifications, and was not year
2000 compliant, and that the customer contracts assigned to Kyrus were in breach
or default by the Borrower. No specific damages amount is stated in the
complaint with respect to the alleged breach of warranties.

                  Kyrus also claims it is owned more than $2.2 million by the
Borrower for direct costs incurred by Kyrus in providing support services to the
Borrower's customers regarding the assigned customer contracts in excess of
certain agreed upon support limits. The Borrower intends to assert, as a defense
to this claim, that Kyrus failed to give timely notice in accordance with the
notice provisions of the License/Agreement.

                  Finally, Kyrus claims it is owed $4.5 million of the
consideration paid to the Borrower by Kyrus. Alternatively, Kyrus demands that
Sykes return to Kyrus certain shares of Kyrus preferred stock having an
aggregate par value of $4.5 million.

                  b.       Insurance coverage.

                  The Borrower has forwarded the lawsuit to its insurance
carrier and has been informed by a representative of its insurance carrier that
the types of allegations contained in the complaint, because they appear to
relate to the functionality of the software product (and subject to any further
amendments of the complaint by the plaintiff), are generally covered by existing
insurance policies of the Borrower, which, in the aggregate, provide
approximately $20 million of coverage. The primary carrier, Chubb Group of
Insurance Companies, has however, issued a coverage and reservation of rights
letter that raises the potential of a lack of coverage under exclusions that are
typically raised at the early stages of cases such as these.

                  c.       Status of the case.

                  The Borrower has filed an answer denying the allegations
regarding functionality and asserting, among others, the defenses described
above. The parties recognize that the facts involved in this litigation are
extremely complex, and have therefore agreed to a stay in the litigation to
permit informal discovery. The stay is currently in effect until the beginning
of August, at which time the parties intend to meet to discuss settlement. In
the event a satisfactory resolution cannot be attained at that meeting, it is
likely that the stay will be lifted and formal discovery will commence. It is
also likely that if this matter proceeds towards trial, it will do so very
quickly due to the accelerated trial docket in Greenville County<PAGE>   1

                                                                   EXHIBIT 10.34

                                CREDIT AGREEMENT

         THIS CREDIT AGREEMENT dated as of February 27, 1998 (the "Credit
Agreement") by and between

         SYKES ENTERPRISES, INCORPORATED, a Florida corporation (the
"Borrower"); and

         NATIONSBANK, N.A., a national banking association existing under the
laws of the United States and having offices in Charlotte, North Carolina (the
"Bank").

                                    RECITALS:

         A.       The Borrower has applied to the Bank for credit facilities in
the aggregate amount of $15,000,000.00, to be borrowed for working capital
needs, for the refinancing of indebtedness to the Bank, for documentary and
standby letters of credit and for foreign exchange transactions.

         B.       The Bank is willing to provide such credit facilities for the
purposes stated hereinabove based on the terms and conditions set forth in this
Credit Agreement.

         NOW, THEREFORE, for good and valuable consideration, the receipt of
which is hereby acknowledged, the Borrower and the Bank hereby agree as follows:

                                    ARTICLE I
                                   Definitions

         1.01     For the purposes hereof:

                  "Advances" shall have the meaning given to such term in
                  Section 2.01;

                  "Belgian Francs Advances" shall have the meaning given to such
                  term in Section 2.01;

                  "Belgian Francs Note" shall have the meaning given to such
                  term in Section 2.04;

                  "Belgian Subsidiary" means Sykes Holdings of Belgium B.V.B.A;

                  "Credit Documents" means this Credit Agreement, the Notes, the
         Letter of Credit Applications, the Guaranty Agreements, the Pledge
         Agreements, and all other related agreements and documents issued or
         delivered hereunder or thereunder or pursuant hereto or thereto ;

                  "Credit Party" means the Borrower, any of the Guarantors or
                  any of the Pledgors;

                  "Deutsche Marks Advances" shall have the meaning given to such
                  term in Section 2.01;

                  "Deutsche Marks Note" shall have the meaning given to such
                  term in Section 2.05;

                  "Dollar Advances" shall have the meaning given to such term in
                  Section 2.01;

                  "Dollar Note" shall have the meaning given to such term in
                  Section 2.09;

                  "Exchange Rate" means, in relation to the purchase of one
         currency (for purposes of this definition the "first currency") with
         another currency (for purposes of this definition the "second
         currency") on a given date, the Bank's spot rate of exchange, for the
         amount in question, in the London interbank market at or about 11:00
         a.m. Charlotte, North Carolina time on such date for the purchase of
         the first currency with the second currency, for delivery two Business
         Days later;

<PAGE>   2

                  "Foreign Currency Notes" shall mean the Krona Note, the
Guilder Note, the Belgian Francs Note, the Deutsche Marks Note, the Pound
Sterling Note, the Punts Note and the French Francs Note;

                  "Foreign Subsidiary Borrowers" shall mean the Swedish
Subsidiary, the Netherlands Subsidiaries, the Belgian Subsidiary, the German
Subsidiary and McQueen,

                  "French Francs Advances" shall have the meaning given to such
term in Section 2.01;

                  "French  Francs Note" shall have the meaning given to such
term in Section 2.08;

                  "German Subsidiary" means Sykes Enterprises GmbH;

                  "Guaranty Agreements" means (i) the Guaranty Agreement
executed by the Borrower in favor of the Bank whereby the Borrower guarantees
the repayment of the obligations of the Foreign Subsidiary Borrowers to the Bank
under the Foreign Currency Notes and (ii) the Guaranty Agreements executed by
the Material Subsidiaries of the Borrower in favor of the Bank whereby the
Material Subsidiaries guarantee the repayment of the obligations of the Borrower
to the Bank under the Credit Documents;

                  "Guilder Advances" shall have the meaning given to such term
in Section 2.01;

                  "Guilder Note" shall have the meaning given to such term in
Section 2.03;

                  "Krona Advances" shall have the meaning given to such term in
Section 2.01;

                  "Krona Note" shall have the meaning given to such term in
Section 2.02;

                  "Letter of Credit Applications" shall have the meaning given
to such term in Section 2.13 hereof;

                  "Letter of Credit Obligations" shall have the meaning given to
such term in Section 2.13 hereof;

                  "Letters of Credit" shall have the meaning given to such term
in Section 2.13 hereof;

                  "McQueen" means McQueen International Limited.

                  "Netherlands Subsidiaries" means Sykes Enterprises
Incorporated Holdings BV and Sykes Enterprises Incorporated BV;

                  "Notes"  means a collective reference to the Dollar Note and
the Foreign Currency Notes;

                  "Pledge Agreements" means any pledge agreements entered into
in accordance with the provisions of Section 4.02, in each case as amended and
modified, to secure on a pari passu basis the obligations owing under this
Credit Agreement and the Indebtedness under the Syndicated Credit Agreement;

                  "Pledgors" means the Persons executing Pledge Agreements
pursuant to Section 7.11;

                  "Pound   Sterling Advances" shall have the meaning given to
such term in Section 2.01;

                  "Pound   Sterling Note" shall have the meaning given to such
term in Section 2.06;

                  "Punts   Advances" shall have the meaning given to such term
in Section 2.01;

                  "Punts   Note" shall have the meaning given to such term in
Section 2.07;

                  "Revolving Loan Committed Amount" shall have the meaning given
to such term in Section 2.01 hereof;

<PAGE>   3

                  "Swedish Subsidiary" means Datasvar Support AB, Stockholm,
Sweden;

                  "Syndicated Credit Agreement" means that certain Credit
         Agreement, dated as of February 27, 1998, by and among the Borrower,
         the lenders parties thereto and NationsBank, N.A., as agent for such
         lenders, together with all amendments and modifications thereto and
         replacements therefor;

                  "Termination Date" means February 27, 2001.

         1.02 Capitalized terms used herein and not otherwise defined herein
shall have their respective meanings as set forth in the Syndicated Credit
Agreement.

                                   ARTICLE II
                                Credit Extensions

         2.01     The Bank agrees, on the terms herein set forth, to make
revolving loan advances (the "Advances") from time to time during the period
from the date hereof to the Termination Date in an amount equal to $15,000,000
(or such higher amount as the parties hereto may from time to time agree) (the
"Revolving Loan Committed Amount"). The Bank agrees that a portion of the
Advances shall be available to (a) the Swedish Subsidiary in Krona (the "Krona
Advances") in an aggregate amount up to 14,000,000 Krona at any time
outstanding, (b) the Netherlands Subsidiaries in Guilder (the "Guilder
Advances") in an aggregate amount up to 4,000,000 Guilder, (c) the Belgian
Subsidiary in Belgian Francs (the "Belgian Franc Advances") in an aggregate
amount up to 1,000,0000 Belgian Francs, (d) the German Subsidiary in Deutsche
Marks (the "Deutsche Marks Advances") in an aggregate amount up to 2,500,000
Deutsche Marks, (e) the McQueen in British Pound Sterling (the "Pound Sterling
Advances") in an aggregate amount up to 5,000,000 British Pound Sterling, (f)
McQueen in Punts (the "Punts Advances") in an aggregate amount up to 800,000
Punts and (g) McQueen in French Francs (the "French Francs Advances") in an
aggregate amount up to 20,000,000 French Francs. The Bank agrees that the
remaining portion of the Advances shall be available to the Borrower in U.S.
dollars (the "Dollar Advances"). Within the limits set forth herein and in the
Foreign Currency Notes and the Dollar Note, the Bank shall make Advances, accept
payments and prepayments pursuant to the terms hereof and readvance any amount
so paid or prepaid.

         2.02     The Krona Advances shall be made, shall be repaid and shall
bear interest in accordance with the terms of that certain Promissory Note dated
February 27, 1998 executed by the Swedish Subsidiary in favor of the Bank in the
original principal amount of up to 14,000,000 Krona (the "Krona Note"), the
terms of which are incorporated herein by reference.

         2.03     The Guilder Advances shall be made, shall be repaid and shall
bear interest in accordance with the terms of that certain Promissory Note dated
February 27, 1998 executed by the Netherlands Subsidiaries in favor of the Bank
in the original principal amount of up to 5,000,000 Guilder (the "Guilder
Note"), the terms of which are incorporated herein by reference.

         2.04     The Belgian Francs Advances shall be made, shall be repaid and
shall bear interest in accordance with the terms of that certain Promissory Note
dated February 27, 1998 executed by the Belgian Subsidiary in favor of the Bank
in the original principal amount of up to 5,000,000 Belgian Francs (the "Belgian
Francs Note"), the terms of which are incorporated herein by reference.

         2.05     The Deutsche Marks Advances shall be made, shall be repaid and
shall bear interest in accordance with the terms of that certain Promissory Note
dated February 27, 1998 executed by the German Subsidiary in favor of the Bank
in the original principal amount of up to 5,000,000 Deutsche Marks (the
"Deutsche Marks Note"), the terms of which are incorporated herein by reference.

         2.06     The Pound Sterling Advances shall be made, shall be repaid and
shall bear interest in accordance with the terms of that certain Promissory Note
dated February 27, 1998 executed by McQueen in favor of the Bank in the original
principal amount of up to 5,000,000 Pounds Sterling (the "Pound Sterling Note"),
the terms of which are incorporated herein by reference.

<PAGE>   4

         2.07     The Punts Advances shall be made, shall be repaid and shall
bear interest in accordance with the terms of that certain Promissory Note dated
February 27, 1998 executed by McQueen in favor of the Bank in the original
principal amount of up to 800,000 Punts (the "Punts Note"), the terms of which
are incorporated herein by reference.

         2.08     The French Franc Advances shall be made, shall be repaid and
shall bear interest in accordance with the terms of that certain Promissory Note
dated February 27, 1998 executed by McQueen in favor of the Bank in the original
principal amount of up to 20,000,000 French Francs (the "French Francs Note"),
the terms of which are incorporated herein by reference.

         2.09     The Dollar Advances shall be made, shall be repaid and shall
bear interest in accordance with the terms of that certain Promissory Note of
even date herewith executed by the Borrower in favor of the Bank in the original
principal amount of up to $15,000,000 (the "Dollar Note"), the terms of which
are incorporated herein by reference.

         2.10     If the U.S. dollar equivalent of the outstanding principal
balance of the Foreign Currency Notes (based upon the most recently available
Exchange Rate) plus the outstanding principal balance of the Dollar Note plus
the U.S. dollar equivalent of the then outstanding Letter of Credit Obligations
plus the U.S. dollar equivalent of the aggregate amount of foreign exchange
contracts margined at 15% of their U.S. dollar value shall at any time exceed
U.S. $15,000,000, the Borrower shall within two Business Days after receiving
notice thereof from the Bank make a repayment to the Bank for purposes of
eliminating such excess, with such repayment to be applied first to the Dollar
Note and then to the Foreign Currency Notes (pro rata based on outstandings) to
the extent of any surplus payment amount. The Borrower agrees to deliver to the
Bank within 15 days after the end of each month in which Advances are
outstanding a certificate signed by its chief financial officer setting forth as
of the last day of such month (i) the U.S. dollar equivalent of the outstanding
principal balance of the Foreign Currency Notes (based upon the Exchange Rate as
of the last day of such month), (ii) the outstanding principal balance of the
Dollar Note, (iii) the U.S. dollar equivalent of the outstanding Letter of
Credit Obligations (based upon the Exchange Rate as of the last day of such
month), (iv) the U.S. dollar equivalent of the aggregate amount of foreign
exchange contracts margined at 15% of their U.S. dollar value (based upon the
Exchange Rate as of the last day of such month), (v) the sum of items (i), (ii),
(iii) and (iv) above and (vi) and the difference between the Revolving Loan
Committed Amount and the sum of items (i), (ii), (iii) and (iv) above.

         2.11     The obligation of the Bank to make any Advance or to issue any
Letter of Credit shall be subject to the satisfaction of the following
conditions:

                  (a)      the representations and warranties set forth in
         Article III hereof shall be true and correct in all material respects
         as of the day of the making of such Advance or the issuance of such
         Letter of Credit, except to the extent any such representation or
         warranty relates to a prior date;

                  (b)      at the time of the making of and immediately after
         the making of such Advance or the issuance of such Letter of Credit
         there shall have occurred or be continuing no Event of Default, or
         event which upon notice or lapse of time or both would constitute an
         Event of Default; and

                  (c)      immediately after the making of such Advance or the
         issuance of such Letter of Credit, the sum of the U.S. dollar
         equivalent of the outstanding principal balance of the Foreign Currency
         Notes (based upon the most recently available Exchange Rate) plus the
         outstanding principal balance of the Dollar Note plus the U.S. dollar
         equivalent of the then outstanding Letter of Credit Obligations (based
         upon the most recently available Exchange Rate) plus the U.S. dollar
         equivalent of the aggregate amount of foreign exchange contracts
         margined at 15% of their U.S. dollar value (based upon the most
         recently available Exchange Rate) shall not exceed U.S. $15,000,000.

Each Advance made at the request of the Borrower or any Foreign Subsidiary
Borrower, as the case may be, hereunder shall be deemed to be a reaffirmation on
the date of such Advance as to the matters specified in subsections (a) and (b)
hereof.

<PAGE>   5

         2.12     The Borrower shall have the right from time to time to
voluntarily reduce the Revolving Loan Committed Amount; provided, however, if
upon such reduction the U.S. dollar equivalent of the outstanding principal
balance of the Foreign Currency Notes (based upon the most recently available
Exchange Rate) plus the outstanding principal balance of the Dollar Note plus
the U.S. dollar equivalent of the then outstanding Letter of Credit Obligations
(based upon the most recently available Exchange Rate) plus the U.S. dollar
equivalent of the aggregate amount of foreign exchange contracts margined at 15%
of their U.S. dollar value (based upon the most recently available Exchange
Rate) shall exceed such reduced Revolving Loan Committed Amount, the Borrower
shall make a repayment to the Bank for purposes of eliminating such excess, with
such repayment to be applied first to the Dollar Note and then to the Foreign
Currency Notes (based on outstandings), to the extent of any surplus payment
amount.

         2.13     The Bank also agrees to issue standby and documentary letters
of credit (the "Letters of Credit"), in U.S. dollars or in any of the applicable
currencies under the Foreign Currency Notes, on the application of the Borrower
from time to time in accordance with the following terms and conditions:

                  (a)      the Borrower will execute a letter of credit
         application on the Bank's standard form in connection with the issuance
         of each Letter of Credit (hereinafter the "Letter of Credit
         Applications");

                  (b)      The form of each Letter of Credit must be
         satisfactory to the Bank in its reasonable discretion;

                  (c)      No Letter of Credit shall have a term in excess of
         one year;

                  (d)      No Letter of Credit shall have an expiration date
         more than six months beyond the Termination Date;

                  (e)      The U.S. dollar equivalent of the aggregate undrawn
         amounts of the Letters of Credit at any time outstanding plus the U.S.
         dollar equivalent of the outstanding principal amount of amounts drawn
         under the Letters of Credit and not reimbursed by the Borrower (the
         "Letter of Credit Obligations") plus the outstanding principal balance
         of the Dollar Advances plus the U.S. dollar equivalent of the Foreign
         Currency Notes (based upon the most recently available Exchange Rate)
         plus the U.S. dollar equivalent of the aggregate amount of foreign
         exchange contracts margined at 15% of their U.S. dollar value (based
         upon the most recently available Exchange Rate) shall not exceed U.S.
         $15,000,000;

                  (f)      The Bank is authorized to reimburse itself for
         amounts drawn under the Letters of Credit by disbursing directly to
         itself proceeds of the Dollar Advances;

                  (g)      Amounts drawn under the Letters of Credit shall be
         payable in accordance with the terms of the Letter of Credit
         Applications;

                  (h)      If the expiration date of any Letter of Credit
         extends beyond the Termination Date, the Borrower shall pay to the Bank
         on the Termination Date an amount equal to the U.S. dollar equivalent
         of the then outstanding Letter of Credit Obligations with respect to
         such Letter of Credit to be held in an interest bearing cash collateral
         account in the name of the Borrower as security for the reimbursement
         obligations which thereafter may arise on account of subsequent
         drawings or payments on any such Letter of Credit;

                  (i)      The Borrower shall pay the Bank a 1% per annum fee on
         the undrawn amount of each standby Letter of Credit, such fee to be
         payable quarterly in arrears. The Borrower shall pay the Bank the
         standard fees of the Bank upon the issuance of any documentary Letter
         of Credit;

                  (j)      If at any time after the date hereof, and from time
         to time, the Bank reasonably determines that the adoption or
         modification of any applicable law, rule or regulation regarding
         taxation, the Bank's required levels of reserves, deposits, insurance
         or capital (including any allocation of capital requirements or
         conditions), or similar requirements, or any interpretation or
         administration thereof by any governmental authority, central bank or
         comparable agency charged with the interpretation, administration

<PAGE>   6

         or compliance of the Bank with any of such requirements, has or would
         have the effect of (i) increasing the Bank's costs relating to the
         Letters of Credit hereunder, or (ii) reducing the yield or rate of
         return of the Bank on the Letters of Credit hereunder, to a level below
         that which the Bank could have achieved but for the adoption or
         modification of any such requirements, the Borrower shall, within 15
         days of any written request (which request shall state in reasonable
         detail the basis therefor) by the Bank, pay to the Bank such additional
         amounts as will compensate the Bank for such increase in costs or
         reduction in yield or rate of return of the Bank. No failure by the
         Bank to immediately demand payment of any additional amounts payable
         hereunder shall constitute a waiver of the Bank's right to demand
         payment of such amounts at any subsequent time. Nothing herein
         contained shall be construed or so operate as to require the Borrower
         to pay any interest, fees, costs or charges greater than is permitted
         by applicable law.

                                   ARTICLE III
                         Representations and Warranties

         The Borrower hereby represents and warrants to the Bank that:

         3.01     Corporate Power; Authorization; Enforceable Obligations .

         Each of the Credit Parties has full power and authority and the legal
right to make, deliver and perform the Credit Documents to which it is party and
has taken all necessary corporate action to authorize the execution, delivery
and performance by it of the Credit Documents to which it is party. No consent
or authorization of, filing with, notice to or other act by or in respect of,
any Governmental Authority or any other Person is required in connection with
the borrowings hereunder or with the execution, delivery or performance of any
Credit Document by the Credit Parties (other than those which have been
obtained,) or with the validity or enforceability of any Credit Document against
the Credit Parties (except such filings as are necessary in connection with the
perfection of the Liens created by such Credit Documents). Each Credit Document
to which the Credit Parties are a party has been duly executed and delivered on
behalf of such Credit Parties. Each Credit Document to which it is a party
constitutes a legal, valid and binding obligation of such Credit Parties
enforceable against such Credit Party in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors' rights generally and by general equitable principles (whether
enforcement is sought by proceedings in equity or at law).

         3.02     No Legal Bar; No Default.

         The execution, delivery and performance of the Credit Documents, the
borrowings thereunder and the use of the Advances and the Letters of Credit will
not violate any Requirement of Law or any Contractual Obligation of any member
of the Consolidated Group (except those as to which waivers or consents have
been obtained), and will not result in, or require, the creation or imposition
of any Lien on any of their respective properties or revenues pursuant to any
Requirement of Law or Contractual Obligation other than the Liens arising under
or contemplated in connection with the Credit Documents. No member of the
Consolidated Group is in default under or with respect to any of its Contractual
Obligations in any respect which would reasonably be expected to have a Material
Adverse Effect. No Default or Event of Default has occurred and is continuing.

         3.03     Federal Regulations.

         No part of the proceeds of any Advances or Letter of Credit hereunder
will be used directly or indirectly for any purpose which violates, or which
would be inconsistent with, the provisions of Regulation G, T, U or X of the
Board of Governors of the Federal Reserve System as now and from time to time
hereafter in effect. No member of the Consolidated Group owns "margin stock"
except as identified in the financial statements referred to in Section 6.1 of
the Syndicated Credit Agreement and the aggregate value of all "margin stock"
owned by each member of the Consolidated Group does not exceed 25% of the value
of its assets.

         3.04     Purpose of Extensions of Credit.

         The Advances will be used to support the Borrower's needs for general
working capital, letters of credit and foreign exchange transactions.

<PAGE>   7

         3.05     Incorporated Representations and Warranties.

         The representations and warranties contained in Sections 6.1, 6.2, 6.3,
6.6, 6.7, 6.9, 6.10, 6.12, 6.13, 6.14 and 6.15 of the Syndicated Credit
Agreement, as in effect as of the date hereof (the "Incorporated
Representations"), are hereby incorporated by reference and shall be binding on
the Borrower as if set forth fully herein. The incorporation by reference to the
Syndicated Credit Agreement of the Incorporated Representations pursuant to this
Section 3.05 shall survive the termination of the Syndicated Credit Agreement.
For purposes of the incorporation of the Incorporated Representations pursuant
to this Section 3.05, all references in the Incorporated Representations to "the
Agent", "a Lender", "the Lenders" or "the Required Lenders" shall be deemed to
refer to the Bank, all references in the Incorporated Representations to the
"Credit Agreement", or any similar references, shall be deemed to refer to this
Credit Agreement, all references in the Incorporated Representations to a "Note"
or the "Notes" shall be deemed to refer to one or more of the Notes as defined
in Section 1.01 hereof and all references in the Incorporated Representations to
a "Credit Document" or the "Credit Documents", or any similar references, shall
be deemed to refer to one or more of the Credit Documents as defined in Section
1.01 hereof.

                                   ARTICLE IV
                                    Covenants

         The Borrower covenants and agrees that from the date hereof and until
payment in full of all principal and interest on the Notes and the Letter of
Credit Obligations and until the Bank's obligation to extend credit hereunder
has been terminated, the Borrower hereby agrees as follows:

         4.01     Incorporated Covenants.

         The affirmative and negative covenants contained in Sections 7.1
through 7.9 and Sections 8.1 through 8.9 of the Syndicated Credit Agreement, as
in effect as of the date hereof (the "Incorporated Covenants"), are hereby
incorporated by reference and shall be binding on the Borrower as if set forth
fully herein. The incorporation by reference to the Syndicated Credit Agreement
of the Incorporated Covenants pursuant to this Section 4.01 shall survive the
termination of the Syndicated Credit Agreement. For purposes of the
incorporation of the Incorporated Covenants pursuant to this Section 4.01, all
references in the Incorporated Covenants to "the Agent", "a Lender", "the
Lenders" or "the Required Lenders" shall be deemed to refer to the Bank, all
references in the Incorporated Covenants to the "Credit Agreement", or any
similar references, shall be deemed to refer to this Credit Agreement, all
references in the Incorporated Covenants to a "Note" or the "Notes" shall be
deemed to refer to one or more of the Notes was defined in Section 1.01 hereof ,
all references in the Incorporated Covenants to a "Credit Document" or the
"Credit Documents", or any similar references, shall be deemed to refer to one
or more of the Credit Documents as defined in Section 1.01 hereof and Section
8.1(g) shall refer to the Indebtedness under the Syndicated Credit Agreement .

         4.02     Additional Guaranties and Stock Pledges.

         If a Subsidiary of the Borrower becomes a Material Subsidiary, then the
Borrower will promptly notify the Bank thereof and cause such Material
Subsidiary to:

                  (a)      execute a guaranty agreement in a form reasonably
         satisfactory to the Bank (or in lieu thereof with respect to any
         Foreign Subsidiary which is a Material Subsidiary, the Borrower may
         deliver stock certificates and related pledge agreement evidencing the
         pledge of 66% of the Voting Stock of such Foreign Subsidiary, together,
         with undated stock transfer powers executed in blank, such pledge
         agreement to secure on a pari passu basis the obligations of the Credit
         Parties under the Credit Documents and the Indebtedness under the
         Syndicated Credit Agreement); and

                  (b)      deliver such supporting resolutions, incumbency
         certificates, corporate formation and organizational documentation and
         opinions of counsel as the Bank may reasonably request.

         4.03     Banking Relationship.  The Borrower shall maintain a primary
banking relationship with the Bank.

<PAGE>   8

                                    ARTICLE V
                       Events of Default and Acceleration

         5.01     Events of Default.

         An Event of Default shall exist upon the occurrence of any of the
following specified events (each an "Event of Default"):

                  (a)      Payment.  Any Credit Party shall

                                    (i)     default in the payment when due of
                  any principal of any of the Notes or any of the Letter of
                  Credit Applications,

                  or

                                    (ii)     default, and such defaults shall
                  continue for five (5) or more Business Days, in the payment
                  when due of any interest on the Notes, or of any fees or other
                  amounts owing hereunder, under any of the other Credit
                  Documents or in connection herewith or therewith; or

                  (b)      Representations. Any representation, warranty or
         statement made or deemed to be made herein, in any of the other Credit
         Documents, or in any statement or certificate delivered or required to
         be delivered pursuant hereto or thereto shall prove untrue in any
         material respect on the date as of which it was deemed to have been
         made; or

                  (c)      Covenants.

                                    (i)      A default in the due performance or
                  observance of any term, covenant or agreement contained in
                  Section 7.2, 7.3(a), 7.9, or 8.1 through 8.9, inclusive of the
                  Incorporated Covenants or Section 4.2 hereof, or

                                    (ii)     A default in the due performance or
                  observance by it of any term, covenant or agreement (other
                  than those referred to in subsections (a), (b) or (c)(i) of
                  this Section 5.01) contained in this Credit Agreement and such
                  default shall continue unremedied for a period of at least 30
                  days after the earlier of a responsible officer of a Credit
                  Party becoming aware of such default or notice thereof by the
                  Agent; or

                  (d)      Other Credit Documents. (i) Any Credit Party shall
         default in the due performance or observance of any material term,
         covenant or agreement in any of the other Credit Documents (subject to
         applicable grace or cure periods, if any), or (ii) except as to the
         Credit Party which is dissolved, released or merged or consolidated out
         of existence as the result of or in connection with a dissolution,
         merger or disposition permitted by Section 8.3(a), Section 8.3(b) or
         Section 8.3(c) of the Incorporated Covenants, any Credit Document shall
         fail to be in full force and effect or to give the Bank any material
         part of the Liens, rights, powers and privileges purported to be
         created thereby; or

                  (e)      Guaranties. Except as to the Credit Party which is
         dissolved, released or merged or consolidated out of existence as the
         result of or in connection with a dissolution, merger or disposition
         permitted by Section 8.3(a), Section 8.3(b) or Section 8.3(c) of the
         Incorporated Covenants, the guaranty given by any Guarantor hereunder
         or any material provision thereof shall cease to be in full force and
         effect, or any Guarantor hereunder or any Person acting by or on behalf
         of such Guarantor shall deny or disaffirm such Guarantor's obligations
         under such guaranty, or any Guarantor shall default in the due
         performance or observance of any term, covenant or agreement on its
         part to be performed or observed pursuant to any guaranty; or

                  (f)      Incorporated Events of Default. The occurrence of an
         "Event of Default" under and as defined in the Syndicated Credit
         Agreement, as in effect as of the date hereof which "Events of Default"
         (the "Incorporated Events of Default") are hereby incorporated by
         reference and shall be binding on the

<PAGE>   9

         Borrower as if set forth fully herein. The incorporation by reference
         to the Syndicated Credit Agreement of the Incorporated Events of
         Default shall survive the termination of the Syndicated Credit
         Agreement. For purposes of the incorporation of the Incorporated
         Covenants pursuant to this Section 6.1(f), all references in the
         Incorporated Events of Default to "the Agent", "a Lender", "the
         Lenders" or "the Required Lenders" shall be deemed to refer to the
         Bank, all references in the Incorporated Events of Default to the
         "Credit Agreement", or any similar references, shall be deemed to refer
         to this Credit Agreement, all references in the Incorporated Default to
         a "Note" or the "Notes" shall be deemed to refer to one or more of the
         Notes as defined in Section 1.01 hereof and all references in the
         Incorporated Events of Default to a "Credit Document" or the "Credit
         Documents", or any similar references, shall be deemed to refer to one
         or more of the Credit Documents as defined in Section 1.01 hereof.

         5.02     Upon the occurrence of any such event of default (taking into
account applicable grace periods, if any, as provided in Section 5.01 hereof)
and unless the Bank agrees to waive in writing such an event of default:

                  (a)      the Bank's commitment to make Advances shall
         terminate and all of the indebtedness of any and every kind owing by
         the Borrower to the Bank or any corporate affiliate of the Bank shall
         become due and payable upon written notice to the Borrower (other than
         an Event of Default described in Section 9.1(f) of the Incorporated
         Events of Default in which case the Bank's commitment to make Advances
         shall automatically terminate and such indebtedness shall become due
         and payable immediately without necessity of written demand) without
         the necessity of any other demand, presentment, protest or notice upon
         the Borrower, all of which are hereby expressly waived by the Borrower;

                  (b)      all of the obligations of the Borrower under the
         Credit Documents shall thereupon be immediately due and payable without
         the necessity of any other demand, presentment, protest or notice upon
         the Borrower, all of which are hereby expressly waived by the Borrower;

                  (c)      the Bank shall have the right, immediately and
         without further action by it, to set-off against the Notes and the
         Guaranty Agreement all money owed by the Bank in any capacity to any
         Borrower, whether or not due, and the Bank shall be deemed to have
         exercised such right of set-off and to have made a charge against any
         such money immediately upon the occurrence of such event of default
         even though such charge is made or entered on the books of the Bank
         subsequent thereto; and

                  (d)      the Bank may demand, and the Borrower shall
         immediately pay to the Bank upon such demand, cash in an amount equal
         to the then outstanding Letter of Credit Obligations and foreign
         exchange contract obligations of the Borrower to the Bank which will be
         held in an interest bearing cash collateral account in the name of the
         Borrower and under the dominion and control of the Bank as additional
         security for the reimbursement obligations which may thereafter arise
         on account of subsequent drawings or payments under the Letters of
         Credit or such foreign exchange contracts.

                                   ARTICLE VI
                                  Miscellaneous

         6.01     Any notice shall be conclusively deemed to have been received
by any party hereto and be effective on the day on which delivered to such party
at the address set forth below or such other address as such party shall specify
to the other party in writing, or if sent prepaid by certified or registered
mail or by telegram or telex (where the receipt of such message is verified by
return) on the third Business Day after the day on which mailed (or sent),
addressed to such party at said address:

<PAGE>   10

                  (a)      if to any Borrower at the following address:

                           c/o Sykes Enterprises, Incorporated
                           100 North Tampa Street
                           Suite 3900
                           Tampa, Florida  33602
                           Attention:  Scott J. Bendert, Senior Vice President-
                                       Finance, Treasurer and Chief Financial
                                       Officer

                  (b)      if to the Bank:

                           NationsBank, N.A.
                           NationsBank Plaza, NC1-002-03-10
                           Charlotte, North Carolina  28255
                           Attention:  William A. Serenius,
                                       Sr. Vice President

         6.02     No failure or delay on the part of the Bank in the exercise of
any right, power or privilege hereunder or under any other Credit Document shall
operate as a waiver of any such right, power or privilege nor shall any preclude
any other or further exercise thereof. The rights and remedies herein provided
are cumulative and not exclusive or any rights or remedies provided by law.

         6.03     All covenants, agreements, representations and warranties made
herein and in the other Credit Documents shall survive the making by the Bank of
the loans herein contemplated and the execution and delivery to the Bank of the
Credit Documents and shall continue in full force and effect so long as any of
the indebtedness of the Borrower to the Bank or any obligations of the Borrower
to the Bank remain outstanding and unpaid. Whenever in this Credit Agreement,
any of the parties hereto is referred to, such reference shall be deemed to
include the successors and assigns of such party and all covenants, provisions
and agreements by or on behalf of the Borrower which are contained in the Credit
Documents or this Credit Agreement shall inure to the benefit of the successors
and assigns of the Bank.

         6.04     Subject to previously agreed upon limits, the Borrower agrees
to pay the costs and expenses of the Bank (including reasonable attorneys' fees)
in connection with the preparation, execution and delivery of the Credit
Documents and all other documents necessary to consummate the transactions
contemplated by the commitment letter of the Bank to the Borrower. The Borrower
also agrees to pay the costs and expenses of the Bank in connection with the
enforcement of the Credit Documents and this Credit Agreement, as well as any
actual filing and recording fees and stamp and other taxes with respect thereto.

         6.05     No approval required by the Bank ("Approval") hereunder nor
any modification, amendment or waiver ("Waiver") of any provision of this Credit
Agreement or any other Credit Document, nor any consent to any departure by the
Borrower therefrom ("Consent") shall in any event be effective unless the same
shall be delivered in accordance with the provisions of Section 7.01 hereof, and
then such Approval, Waiver or Consent shall be effective only in the specific
instance and for the purpose for which given, but any such Approval, Waiver or
Consent when so signed shall be effective and binding upon the Bank. Notice to
or demand on the Borrower in any case shall not entitle the Borrower to any
other or further notice or demand in the same, similar or other circumstances.

         6.06     Interest, fees and premiums hereunder shall be computed on the
basis of a three hundred sixty (360) day year for the actual number of days in
the interest period unless any promissory note for foreign currency borrowings
contains a contrary calculation.

         6.07     Should any installment or other payment of the principal of or
interest on any Note become due and payable on other than a Business Day, the
maturity thereof shall be extended to the next succeeding Business Day
thereafter and in the case of an installment of principal, interest shall be
payable thereon at the rate per annum herein specified during such extension.

<PAGE>   11

         6.08     This Credit Agreement may be executed in any number of
counterparts, each of which when so executed and delivered shall be deemed an
original, and it shall not be necessary in making proof of this Credit Agreement
to produce or account for more than one such counterpart.

         6.09     The terms hereof shall extend to any subsequent holder of the
Notes and the Guaranty Agreement.

         6.10     The term of this Credit Agreement shall be until payment in
full of all sums payable by the Borrower hereunder, under the Notes, or
otherwise payable to the Bank, howsoever evidenced, whichever is later.

         6.11     All documents executed pursuant to the transactions
contemplated herein, including without limitation this Credit Agreement and each
of the Notes, shall be deemed to be contracts made under, and for all purposes
shall be construed in accordance with, the internal laws and judicial decisions
of the State of North Carolina. The Borrower hereby submits to the jurisdiction
and venue of the state and federal courts of North Carolina for the purposes of
resolving disputes hereunder or for the purposes of collection.

         IN WITNESS WHEREOF, the parties hereto have caused this instrument to
be executed under seal by their duly authorized officers in Charlotte, North
Carolina at the offices of the Bank as of the day and year first above written.

                                  SYKES ENTERPRISES, INCORPORATED

                                  By
                                    --------------------------------------------
                                    Scott J. Bendert
                                    Senior Vice President-Finance, Treasurer and
                                    Chief Financial Officer

                                  NATIONSBANK, N.A.

                                  By:
                                     ------------------------------------------
                                     William A. Serenius
                                     Senior Vice President

<PAGE>   12

                       FIRST AMENDMENT TO CREDIT AGREEMENT

         THIS FIRST AMENDMENT TO CREDIT AGREEMENT dated as of October ___, 1998,
between Sykes Enterprises, Incorporated (the "Borrower") and its subsidiaries
listed on the signature page and NationsBank, N.A. (the "Bank").

                                    RECITALS

         The Borrower and the Bank have entered into a Credit Agreement dated as
of February 27, 1998 (the "Agreement") pursuant to which the Bank extended a
credit facility in the amount of $15,000,000.00 to be borrowed for working
capital needs, for the refinancing of indebtedness to the Bank, for documentary
and standby letters of credit and for foreign exchange transactions (the
"Loan").

         The obligation of the Borrower under the Credit Agreement is evidenced
by a note in the amount of $15,000,000 executed by Sykes Enterprises,
Incorporated in favor of Bank and the Foreign Currency Notes dated as of
February 27, 1998 executed by the Borrower's subsidiaries in favor of Bank.

         The Borrower and the Bank wish to amend certain terms of the Agreement
and the Foreign Currency Notes as herein provided.

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

         Section 1.    Definitions. Unless otherwise defined herein, terms
defined in the Agreement shall have the same meanings when used herein.

         Section  2.   Amendments. Effective as provided in Section 3 hereof and
subject to the provisions of Section 3 hereof, the Agreement and the Foreign
Currency Notes are hereby amended as follows:

A new Section 2.10 is added to the Agreement as follows:

         2.10     (a)  If, as a result of the implementation of the European
         economic and monetary union ("EMU"), (i) any currency available for
         borrowing under this Credit Agreement (a "national currency") ceases to
         be lawful currency of the state issuing the same and is replaced by a
         European single or common currency (the "Euro") or (ii) any national
         currency and the Euro are at the same time both recognized by the
         central bank or comparable governmental authority of the state issuing
         such currency as lawful currency of such state, then any amount payable
         hereunder by any party hereto in such national currency (including,
         without limitation, any Advance to be made under this Credit Agreement)
         shall instead be payable in the Euro and the amount so payable shall be
         determined by redenominating or converting such amount into the Euro at
         the exchange rate officially fixed by the European Central Bank for the
         purpose of implementing the EMU, provided that to the extent any EMU
         legislation provides than an amount denominated either in the Euro or
         in the applicable national currency can be paid either in Euros or in
         the applicable national currency, each party to this Credit Agreement
         shall be entitled to pay or repay such amount in Euros or in the
         applicable national currency. Prior to the occurrence of the event or
         events described in clause (i) or (ii) of the preceding sentence, each
         amount payable hereunder in any such national currency will, except as
         otherwise provided herein, continue to be payable only in that national
         currency.

         (b)      Borrower shall from time to time, at the request of the Bank,
         pay to the Bank for the account of the Bank the amount of any cost or
         increased cost incurred by, or of any reduction in the amount payable
         to or in the effective return on its capital to, or of interest, or
         other return foregone by, the Bank or any holding company of the Bank
         as a result of the introduction of, changeover to or operation of the
         Euro in any applicable state.

         (c)      In addition, this Credit Agreement and the Foreign Currency
         Notes (including, without limitation, the definition of Adjusted LIBOR
         Rate) will be amended to the extent determined by the Bank (acting
         reasonably and in consultation with the Borrower) to be necessary to
         reflect such implementation of the

<PAGE>   13

         EMU and change in currency and to the Bank and the Borrower in the same
         position, so far as possible, that they would have been in if such
         implementation and change in currency had not occurred. Except as
         provided in the foregoing provisions of this Section, no such
         implementation or change in such currency nor any economic consequences
         resulting therefrom shall (i) give rise to any right to terminate
         prematurely, contest, cancel, rescind, alter, modify or renegotiate the
         provisions of this Credit Agreement or (ii) discharge, excuse or
         otherwise affect the performance of any obligations of the borrower
         under this Credit Agreement, the Foreign Currency Notes or other Credit
         Documents.

         Section 3. Effective Date. The amendments to the Agreement and the
Foreign Currency Notes set forth in Section 2 hereof shall be effective and
binding on all the parties on and as of October 29, 1998 (the "Effective Date"),
provided that the following conditions precedent have been satisfied on such
date:

                  (a)      The Bank shall have received one or more counterparts
of this First Amendment to Credit Agreement executed by each of the parties
hereto.

                  (b)      All legal matters incident to this First Amendment to
Credit Agreement shall be satisfactory to counsel for the Bank.

         Section 4.        Representations, Etc. The Borrower represents
covenants and warrants to the Bank that (i) as of the date hereof no Event of
Default has occurred and is continuing and no status or condition exists which
with the giving of notice or the passage of time or both would constitute an
Event of Default; and (ii) the representations and warranties contained in the
Agreement an amended hereby, with each reference to "this Credit Agreement",
"hereto", "hereof", and terms of similar import taken as a reference to the
Agreement as amended hereby.

         Section 5.        Agreement.

                  (a)      Except as specifically amended hereby, the Agreement
and Foreign Currency Notes shall remain unchanged and continue in full force and
effect in accordance with the provisions thereof as in existence on the date
hereof.

                  (b)      This First Amendment to Credit Agreement (i) is
limited precisely as specified herein and does not constitute nor shall it be
deemed to constitute a modification, acceptance of waiver of any other provision
of the Agreement, the Foreign Currency Notes or any document, instruments,
certificates, notes, bonds or agreements delivered in connection therewith and
(iii) shall not prejudice or be deemed to prejudice any right(s) the Bank may
now have or may in the future have under or in connection with the Agreement,
the Foreign Currency Notes or any documents, instruments, certificates, notes,
bonds or agreements executed in connection therewith.

         Section 6.        Applicable  Law. This First  Amendment to Credit
Agreement shall be governed by and construed in accordance with the laws of the
State of North Carolina.

         Section  7.       Counterparts. This First Amendment to Credit
Agreement may be executed in any number of counterparts, all of which taken
together will constitute one agreement, and any of the parties hereto may
execute this First Amendment to Credit Agreement by signing any such
counterpart.

<PAGE>   14

         IN WITNESS WHEREOF, the parties hereto have caused to this First
Amendment to Credit Agreement be duly executed as of the day and year first
above written.

SYKES ENTERPRISES, INCORPORATED             NATIONSBANK, N.A.

By:                                         By:
   -----------------------------               ---------------------------------

Title:                                      Title:
      --------------------------               ---------------------------------

DATASVAR SUPPORT AB,
STOCKHOLM, SWEDEN

By:
   -----------------------------

Title:
      --------------------------

SYKES ENTERPRISES GmbH

By:
   -----------------------------

Title:
      --------------------------

SYKES ENTERPRISES, INCORPORATED
HOLDINGS BV

By:
   -----------------------------

Title:
      --------------------------

SYKES ENTERPRISES, INCORPORATED BV

By:
   -----------------------------

Title:
      --------------------------

MCQUEEN INTERNATIONAL LIMITED

By:
   -----------------------------

Title:
      --------------------------

SYKES HOLDINGS OF BELGIUM B.V.B.A.

By:
   -----------------------------

Title:
      --------------------------

<PAGE>   15

                       AMENDMENT NO. 2 TO CREDIT AGREEMENT

         THIS AMENDMENT AGREEMENT (this "Amendment No. 2"), dated as of January
18, 2000, is by and among SYKES ENTERPRISES, INCORPORATED, a Florida corporation
(the "Borrower"), the subsidiaries of the Borrower listed on the signature pages
hereto and BANK OF AMERICA, N.A., a national banking association formerly known
as NationsBank, N.A. (the "Bank").

                              W I T N E S S E T H:

         WHEREAS, the Borrower and the Bank are parties to that certain Credit
Agreement, dated as of February 27, 1998, as amended by a First Amendment to
Credit Agreement dated as of October 1998 (the "Existing Credit Agreement"); and

         WHEREAS, the Borrower and the Bank have agreed to amend the Existing
Credit Agreement as set forth herein.

         NOW, THEREFORE, in consideration of the agreements herein contained,
the parties hereby agree as follows:

                                     PART I
                                   DEFINITIONS

         SUBPART 1.1.  Certain Definitions.  Unless otherwise defined herein or
the context otherwise requires, terms used in this Amendment No. 2, including
its preamble and recitals, have the following meanings (such meanings to be
equally applicable to the singular and plural forms thereof):

         "Amended Credit Agreement" means the Existing Credit Agreement as
amended hereby.

         "Amendment No. 2 Effective Date" is defined in Subpart 3.1.

         SUBPART 1.2.  Other Definitions.  Unless otherwise defined herein or
the context otherwise requires, terms used in this Amendment No. 2, including
its preamble and recitals, have the meanings provided in the Amended Credit
Agreement.

                                     PART II
                     AMENDMENTS TO EXISTING CREDIT AGREEMENT

         Effective as of the Amendment No. 2 Effective Date, the Existing Credit
Agreement is hereby amended in accordance with this Part II. Except as so
amended, the Existing Credit Agreement, the Notes and the other Credit Documents
shall continue in full force and effect.

         SUBPART 2.1 Amendments to Section 1.01. Section 1.01 of the Existing
Credit Agreement is hereby amended by inserting, in the alphabetically
appropriate place, the following definition:

                  "Amendment No. 3 to Syndicated Credit Agreement" means that
         certain Amendment No. 3 to Credit Agreement, dated as of January 18,
         2000, among the Borrower, the guarantors party thereto, the lenders
         party thereto and the Bank, as Agent, amending the Syndicated Credit
         Agreement as then in effect.

         SUBPART 2.2 Amendment to Section 4.01. Section 4.01 is amended by
replacing the first sentence thereof with the following:

                  The affirmative and negative covenants contained in Sections
         7.1 through 7.9 and Sections 8.1 through 8.9 of the Syndicated Credit
         Agreement, as existing after giving effect to Amendment No. 3 to
         Syndicated Credit Agreement and any subsequent amendment to the
         Syndicated Credit Agreement which

<PAGE>   16
         the Bank, acting in its capacity as the lender hereunder, has approved
         in a writing referring to this Credit Agreement (the "Incorporated
         Covenants"), are hereby incorporated by reference and shall be binding
         on the Borrower as if set forth fully herein.

                                    PART III
                           CONDITIONS TO EFFECTIVENESS

         SUBPART 3.1.  Amendment No. 2 Effective Date.  This Amendment shall be
and become effective as of January 18, 2000 (the "Amendment No. 2 Effective
Date") when all of the conditions set forth in this Subpart 3.1 shall have been
satisfied, and thereafter, this Amendment No. 2 shall be known, and may be
referred to, as "Amendment No. 2."

                  SUBPART 3.1.1. Execution of Counterparts. The Bank shall have
         received (including by telecopy) counterparts of this Amendment No. 2
         which shall have been duly executed on behalf of the Borrower, the
         subsidiaries of the Borrower listed on the signature pages hereto and
         the Bank.

                  SUBPART 3.1.2. Legal Details, Etc. All documents executed or
         submitted pursuant hereto shall be reasonably satisfactory in form and
         substance to the Bank and its counsel prior to or by the time of
         closing. Prior to or by the time of closing, the Bank and its counsel
         shall have received all information, and such counterpart originals or
         such certified or other copies of such originals, as the Bank or its
         counsel may reasonably request, and all legal matters incident to the
         transactions contemplated by this Amendment No. 2 shall be reasonably
         satisfactory to the Bank and its counsel.

                                     PART IV
                                  MISCELLANEOUS

         SUBPART 4.1  Cross-References.  References in this Amendment No. 2 to
any Part or Subpart are, unless otherwise specified, to such Part or Subpart of
this Amendment No. 2.

         SUBPART 4.2  Instrument Pursuant to Existing Credit Agreement.  This
Amendment No. 2 is a document executed pursuant to the Existing Credit Agreement
and shall (unless otherwise expressly indicated therein) be construed,
administered and applied in accordance with the terms and provisions of the
Existing Credit Agreement.

         SUBPART 4.3 Credit Documents. The Borrower and the subsidiaries of the
Borrower listed on the signature pages hereto hereby confirm and agree that the
Credit Documents, including without limitation the Guaranty Agreements and the
Notes, are, and shall continue to be, in full force and effect, and hereby
ratify and confirm in all respects their obligations thereunder, except that,
upon the effectiveness of, and on and after the date of, this Amendment No. 2,
all references in each Credit Document to the "Credit Agreement", "thereunder",
"thereof" or words of like import referring to the Existing Credit Agreement
shall mean the Amended Credit Agreement.

         SUBPART 4.4  Counterparts, Effectiveness, Etc.  This Amendment No. 2
may be executed by the parties hereto in several counterparts, each of which
shall be deemed to be an original and all of which shall constitute together but
one and the same agreement.

         SUBPART 4.5  Governing Law; Entire Agreement.  THIS AMENDMENT NO. 2
SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF
THE STATE OF NORTH CAROLINA WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW
PRINCIPLES THEREOF.

         SUBPART 4.6  Successors and Assigns.  This Amendment No. 2 shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.
<PAGE>   17

         SUBPART 4.7 Representations and Warranties. The Borrower represents and
warrants to the Bank that no Default or Event of Default has occurred and
remains uncured under the Amended Credit Agreement.

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2
to be executed by their respective duly authorized officers as of the day and
year first above written.

BORROWER:                                SYKES ENTERPRISES, INCORPORATED

                                         By
                                           -------------------------------------

                                         Title
                                              ----------------------------------

SUBSIDIARIES OF THE
BORROWER:                                MCQUEEN INTERNATIONAL LIMITED

                                         By
                                           -------------------------------------

                                         Title
                                              ----------------------------------

                                         SHPS, INC.

                                         By
                                           -------------------------------------

                                         Title
                                              ----------------------------------

                                         DATASVAR SUPPORT AB,
                                         STOCKHOLM SWEDEN

                                         By
                                           -------------------------------------

                                         Title
                                              ----------------------------------

                                         SYKES ENTERPRISES GmbH

                                         By
                                           -------------------------------------

                                         Title
                                              ----------------------------------

<PAGE>   18

                                        SYKES ENTERPRISES INCORPORATED
                                        HOLDINGS BV

                                        By
                                          --------------------------------------

                                        Title
                                              ----------------------------------

                                        SYKES ENTERPRISES INCORPORATED BV

                                        By
                                           -------------------------------------

                                        Title
                                              ----------------------------------

                                        SYKES HOLDINGS OF BELGIUM B.V.B.A.

                                        By
                                           -------------------------------------

                                        Title
                                              ----------------------------------

BANK:                                   BANK OF AMERICA, N.A., formerly known
                                        as NationsBank, N.A.

                                        By
                                           -------------------------------------

                                        Title
                                              ----------------------------------

<PAGE>   19

                       AMENDMENT NO. 3 TO CREDIT AGREEMENT

         THIS AMENDMENT AGREEMENT (this "Amendment No. 3"), dated as of May __,
2000, is by and among SYKES ENTERPRISES, INCORPORATED, a Florida corporation
(the "Borrower"), the subsidiaries of the Borrower listed on the signature pages
hereto and BANK OF AMERICA, N.A., a national banking association formerly known
as NationsBank, N.A. (the "Bank").

                              W I T N E S S E T H:

         WHEREAS, the Borrower and the Bank are parties to that certain Credit
Agreement, dated as of February 27, 1998, as amended by a First Amendment to
Credit Agreement dated as of October 1998 and Amendment No. 2 to Credit
Agreement dated as of January 18, 2000 (the "Existing Credit Agreement");

         WHEREAS, the Foreign Subsidiary Borrowers have executed the Foreign
Currency Notes pursuant to the Existing Credit Agreement;

         WHEREAS, McQueen has executed that certain Guaranty Agreement dated as
of February 27, 1998 in favor of the Bank;

         WHEREAS, SHPS, Inc. ("SHPS") has executed that certain Guaranty
Agreement dated as of February 28, 2000 in favor of the Bank; and

         WHEREAS, the Borrower and the Bank have agreed to amend the Existing
Credit Agreement as set forth herein and the Foreign Subsidiary Borrowers and
SHPS desire to acknowledge and agree to such amendment.

         NOW, THEREFORE, in consideration of the agreements herein contained,
the parties hereby agree as follows:

                                     PART I
                                   DEFINITIONS

         SUBPART 1.1.  Certain Definitions.  Unless otherwise defined herein or
the context otherwise requires, terms used in this Amendment No. 3, including
its preamble and recitals, have the following meanings (such meanings to be
equally applicable to the singular and plural forms thereof):

         "Amended Credit Agreement" means the Existing Credit Agreement as
amended hereby.

         "Amendment No. 3 Effective Date" is defined in Subpart 3.1.

         SUBPART 1.2.  Other Definitions.  Unless otherwise defined herein or
the context otherwise requires, terms used in this Amendment No. 3, including
its preamble and recitals, have the meanings provided in the Amended Credit
Agreement.

                                     PART II
                     AMENDMENTS TO EXISTING CREDIT AGREEMENT

         Effective as of the Amendment No. 3 Effective Date, the Existing Credit
Agreement is hereby amended in accordance with this Part II. Except as so
amended, the Existing Credit Agreement, the Notes and the other Credit Documents
shall continue in full force and effect.

         SUBPART 2.1 Amendments to Section 1.01. Section 1.01 of the Existing
Credit Agreement is hereby amended as follows:

                  (a)      The following new definition is added in the
         alphabetically appropriate place:

<PAGE>   20

                  "Amendment No. 3" means Amendment No. 3 to Credit Agreement
         dated as of May __, 2000 among the Borrower, the subsidiaries of the
         Borrower party thereto and the Bank, amending this Credit Agreement as
         then in effect.

                  (b)      The definition of "Amendment No. 3 to Syndicated
         Credit Agreement" is deleted.

                  (c)      The following definitions are replaced in their
         entirety to read as follows:

                  "Pledgors" means the Persons executing Pledge Agreements
         pursuant to Section 4.02;

                  "Syndicated Credit Agreement" means that certain Amended and
         Restated Credit Agreement dated as of May 2, 2000 among the Borrower,
         certain subsidiaries of the Borrower, as Guarantors, the lenders
         parties thereto and the Bank, as Agent for such lenders, together with
         all amendments and modifications thereto and replacements therefor;

                  "Termination Date" means February 28, 2002.

         SUBPART 2.2 Amendment to Section 3.05. Section 3.05 of the Existing
Credit Agreement is hereby amended by replacing the first sentence thereof with
the following:

                  The representations and warranties contained in Sections 6.1,
         6.2, 6.3, 6.6, 6.7, 6.9, 6.10, 6.12, 6.13, 6.14 and 6.15 of the
         Syndicated Credit Agreement, as in effect on the date of Amendment No.
         3 and after giving effect to any amendment or modification to the
         Syndicated Credit Agreement which the Bank, acting in its capacity as
         the lender hereunder, has approved in a writing referring to this
         Credit Agreement (the "Incorporated Representations"), are hereby
         incorporated by reference and shall be binding on the Borrower as if
         set forth fully herein.

         SUBPART 2.3 Amendment to Section 4.01. Section 4.01 of the Existing
Credit Agreement is hereby amended by replacing the first sentence thereof with
the following:

                  The affirmative and negative covenants contained in Sections
         7.1 through 7.9 and Sections 8.1 through 8.9 of the Syndicated Credit
         Agreement, as in effect on the date of Amendment No. 3 and after giving
         effect to any amendment or modification to the Syndicated Credit
         Agreement which the Bank, acting in its capacity as the lender
         hereunder, has approved in a writing referring to this Credit Agreement
         (the "Incorporated Covenants"), are hereby incorporated by reference
         and shall be binding on the Borrower as if set forth fully herein.

         SUBPART 2.4 Amendment to Section 4.02. Section 4.02 of the Existing
Credit Agreement is hereby amended in its entirety to read as follows:

                  4.02     Additional Guaranties and Stock Pledges.

                  If a Subsidiary of the Borrower becomes a Material Subsidiary,
        then the Borrower will promptly notify the Bank thereof and cause such
        Material Subsidiary to:

                  (a)      execute a guaranty agreement in a form reasonably
         satisfactory to the Bank (or in lieu thereof with respect to any
         Foreign Subsidiary which is a Material Subsidiary, the Borrower shall
         deliver stock certificates and a related pledge agreement evidencing
         the pledge of 66% of the Voting Stock of such Foreign Subsidiary,
         together, with undated stock transfer powers executed in blank, such
         pledge agreement to secure on a pari passu basis the obligations of the
         Credit Parties under the Credit Documents and the Indebtedness under
         the Syndicated Credit Agreement) (each such Subsidiary that executes a
         guaranty agreement pursuant to this Section 4.02(a) is referred to
         herein as a "Subsidiary Guarantor" and each such Foreign Subsidiary
         that has had 66% of its Voting Stock pledged to (or for the benefit of)
         the Bank is referred to herein as a "Covered Foreign Subsidiary"); and

<PAGE>   21

                  (b)      deliver such supporting resolutions, incumbency
         certificates, corporate formation and organizational documentation and
         opinions of counsel as the Bank may reasonably request.

         In addition, if all Subsidiaries of the Borrower that are not
         Subsidiary Guarantors or Covered Foreign Subsidiaries (collectively,
         the "Non-Covered Subsidiaries") shall, as of any date of determination
         and determined on a consolidated basis, collectively account for (or
         have attributed to them) during the most recently ended four fiscal
         quarter period 20% or more of the Consolidated EBITDA or assets of the
         Consolidated Group (the "Threshold Requirement"), then the Borrower
         will promptly notify the Bank thereof and cause one or more of such
         Non-Covered Subsidiaries to satisfy clauses (a) and (b) above such that
         immediately after such Subsidiaries have become Guarantors hereunder
         (or, in the case of Foreign Subsidiaries, have had 66% of their Voting
         Stock pledged to (or for the benefit of) the Bank), the remaining
         Non-Covered Subsidiaries shall not exceed the Threshold Requirement.

         SUBPART 2.5 New Sections 6.12 and 6.13. New Sections 6.12 and 6.13 are
hereby added to the Existing Credit Agreement as follows:

                  6.12     The Bank hereby waives any Default or Event of
         Default that may have existed under this Credit Agreement from the
         Closing Date to the date of Amendment No. 3 solely as a result of the
         Credit Parties' non-compliance with Section 8.1(e) of the Incorporated
         Covenants. This is a one-time waiver and shall not be construed to be a
         waiver (a) as to future compliance with Section 8.1(e) of the
         Incorporated Covenants or (b) any other Default or Event of Default
         that may exist hereunder or hereunder.

                  6.13     The Bank hereby releases McQueen from its obligations
         set forth in that certain Guaranty Agreement dated as of February 27,
         1998 in favor of the Agent.

                                    PART III
                           CONDITIONS TO EFFECTIVENESS

         SUBPART 3.1. Amendment No. 3 Effective Date. This Amendment shall be
and become effective as of the date hereof (the "Amendment No. 3 Effective
Date") when all of the conditions set forth in this Subpart 3.1 shall have been
satisfied, and thereafter, this Amendment No. 3 shall be known, and may be
referred to, as "Amendment No. 3."

                  SUBPART 3.1.1. Execution of Counterparts. The Bank shall have
         received (including by telecopy) counterparts of this Amendment No. 3
         which shall have been duly executed on behalf of the Borrower, the
         subsidiaries of the Borrower listed on the signature pages hereto and
         the Bank.

                  SUBPART 3.1.1. Subsidiary Guaranties. The Bank shall have
         received (including by telecopy) counterparts of Guaranty Agreements
         which shall have been duly executed on behalf of Sykes Realty, Inc. and
         Sykes E-Commerce Incorporated.

                  SUBPART 3.1.3. Legal Details, Etc. All documents executed or
         submitted pursuant hereto shall be reasonably satisfactory in form and
         substance to the Bank and its counsel prior to or by the time of
         closing. Prior to or by the time of closing, the Bank and its counsel
         shall have received all information, and such counterpart originals or
         such certified or other copies of such originals, as the Bank or its
         counsel may reasonably request, and all legal matters incident to the
         transactions contemplated by this Amendment No. 3 shall be reasonably
         satisfactory to the Bank and its counsel.

                                     PART IV
                                  MISCELLANEOUS

         SUBPART 4.1 Cross-References. References in this Amendment No. 3 to any
Part or Subpart are, unless otherwise specified, to such Part or Subpart of this
Amendment No. 3.

<PAGE>   22

         SUBPART 4.2 Instrument Pursuant to Existing Credit Agreement. This
Amendment No. 3 is a document executed pursuant to the Existing Credit Agreement
and shall (unless otherwise expressly indicated therein) be construed,
administered and applied in accordance with the terms and provisions of the
Existing Credit Agreement.

         SUBPART 4.3 Credit Documents. The Borrower and the subsidiaries of the
Borrower listed on the signature pages hereto hereby confirm and agree that the
Credit Documents, including without limitation the Guaranty Agreements and the
Notes, are, and shall continue to be, in full force and effect, and hereby
ratify and confirm in all respects their obligations thereunder, except that,
upon the effectiveness of, and on and after the date of, this Amendment No. 3,
all references in each Credit Document to the "Credit Agreement", "thereunder",
"thereof" or words of like import referring to the Existing Credit Agreement
shall mean the Amended Credit Agreement.

         SUBPART 4.4 Counterparts, Effectiveness, Etc. This Amendment No. 3 may
be executed by the parties hereto in several counterparts, each of which shall
be deemed to be an original and all of which shall constitute together but one
and the same agreement.

         SUBPART 4.5 Governing Law; Entire Agreement. THIS AMENDMENT NO. 3 SHALL
BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE
STATE OF NORTH CAROLINA WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES
THEREOF.

         SUBPART 4.6 Successors and Assigns. This Amendment No. 3 shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

         SUBPART 4.7 Representations and Warranties. The Borrower represents and
warrants to the Bank that no Default or Event of Default has occurred and
remains uncured under the Amended Credit Agreement.

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 3
to be executed by their respective duly authorized officers as of the day and
year first above written.

BORROWER:                           SYKES ENTERPRISES, INCORPORATED

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

SUBSIDIARIES OF THE
BORROWER:                           MCQUEEN INTERNATIONAL LIMITED

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

<PAGE>   23

                                    SHPS, INC.

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

                                    DATASVAR SUPPORT AB,
                                    STOCKHOLM SWEDEN

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

                                    SYKES ENTERPRISES GmbH

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

                                    SYKES ENTERPRISES INCORPORATED
                                    HOLDINGS BV

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

                                    SYKES ENTERPRISES INCORPORATED BV

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

                                    SYKES HOLDINGS OF BELGIUM B.V.B.A.

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

BANK     :                          BANK OF AMERICA, N.A., formerly known
                                    as NationsBank, N.A.

                                    By
                                      ------------------------------------------

                                    Title
                                         ---------------------------------------

<PAGE>   24

                       AMENDMENT NO. 4 TO CREDIT AGREEMENT

         THIS AMENDMENT NO. 4 TO CREDIT AGREEMENT (this "Amendment"), dated as
of June 22, 2001, is by and among SYKES ENTERPRISES, INCORPORATED, a Florida
corporation (the "Borrower"), the guarantors listed on the signature pages
hereto, the other subsidiaries of the Borrower listed on the signature pages
hereto and BANK OF AMERICA, N.A., a national banking association (the "Bank").

                              W I T N E S S E T H:

         WHEREAS, the Borrower and the Bank are parties to that certain Credit
Agreement, dated as of February 27, 1998, as amended by a First Amendment to
Credit Agreement dated as of October 1998, Amendment No. 2 to Credit Agreement
dated as of January 18, 2000 and Amendment No. 3 to Credit Agreement dated as of
May 2, 2000 (the "Existing Credit Agreement");

         WHEREAS, the Foreign Subsidiary Borrowers have executed the Foreign
Currency Notes pursuant to the Existing Credit Agreement;

         WHEREAS, by separate guaranty agreements both dated May 2, 2000, Sykes
E-Commerce Incorporated and Sykes Realty, Inc. (collectively, the "Guarantors")
agreed to guaranty the Borrower's obligations under the Credit Agreement; and

         WHEREAS, the Borrower and the Bank have agreed to amend the Existing
Credit Agreement as set forth herein and the Guarantors and the Foreign
Subsidiary Borrowers desire to acknowledge and agree to such amendment.

         NOW, THEREFORE, in consideration of the agreements herein contained,
the parties hereby agree as follows:

                                        I
                                   DEFINITIONS

         SECTION 1.1. Certain Definitions. Unless otherwise defined herein or
the context otherwise requires, terms used in this Amendment, including its
preamble and recitals, have the following meanings (such meanings to be equally
applicable to the singular and plural forms thereof):

         "Amended Credit Agreement" means the Existing Credit Agreement as
amended hereby.

         "Amendment No. 4 Effective Date" is defined in Section 3.1.

         SECTION 1.2. Other Definitions. Unless otherwise defined herein or the
context otherwise requires, terms used in this Amendment, including its preamble
and recitals, have the meanings provided in the Amended Credit Agreement.

                                       II
                     AMENDMENTS TO EXISTING CREDIT AGREEMENT

         Effective as of the Amendment No. 4 Effective Date, the Existing Credit
Agreement is hereby amended in accordance with these Sections 2.1 through 2.4.
Except as so amended, the Existing Credit Agreement, the Notes and the other
Credit Documents shall continue in full force and effect.

         SECTION 2.1.  Amendments to Section 1.01.

                  (a) Section 1.01 of the Existing Credit Agreement is hereby
         amended by inserting, in the alphabetically appropriate place, the
         following definition:

<PAGE>   25

                           "Amendment No. 4" means Amendment No. 4 to Credit
                  Agreement, dated as of June 22, 2001, among the Borrower,
                  Sykes Realty, Inc., Sykes E-Commerce Incorporated, the other
                  subsidiaries of the Borrower listed on the signature pages
                  thereto and the Bank, amending this Credit Agreement as then
                  in effect.

                           "Applicable Percentage" means for any day, the rate
                  per annum set forth below opposite the applicable Consolidated
                  Leverage Ratio then in effect, it being understood that the
                  Applicable Percentage for (i) Base Rate Loans shall be the
                  percentage set forth under the column "Base Rate Margin", (ii)
                  the Letter of Credit Fee shall be the percentage set forth
                  under the column "Eurocurrency Margin and Letter of Credit
                  Fee" and (iii) the Commitment Fee shall be the percentage set
                  forth under the column "Commitment Fee".

<TABLE>
<CAPTION>

                     Pricing         Consolidated          Base Rate                               Commitment
                      Level            Leverage              Margin       Letter of Credit Fee        Fee
                                         Ratio
                   ---------------------------------------------------------------------------------------------
                   <S>            <C>                      <C>            <C>                      <C>
                        I               > 1.75               0.50%                2.25%              0.40%
                        II        > 1.25 but <= 1.75         0.25%                2.00%              0.375%
                       III        > 0.75 but <= 1.25           0%                 1.75%              0.35%
                        IV        > 0.25 but <= 0.75           0%                 1.50%              0.325%
                        V               <= 0.25                0%                 1.25%              0.30%
</TABLE>

                  The Applicable Percentage shall be determined and adjusted
                  quarterly on the date five (5) Business Days after the date by
                  which the annual and quarterly compliance certificates and
                  related financial statements and information are required in
                  accordance with the provisions of Sections 7.1(a) and (b) and
                  Section 7.2(b) of the Syndicated Credit Agreement, as
                  appropriate (each date of a rate change as described in the
                  sentence hereafter referred to as a "Rate Determination
                  Date"); provided that (i) the current Applicable Percentages
                  shall be based on Pricing Level V, shall be effective on the
                  Amendment No. 4 Effective Date and shall be adjusted as shown
                  above based on the Consolidated Leverage Ratio; and (ii) in
                  the event an annual or quarterly compliance certificate and
                  the related financial statements and information are not
                  delivered timely by the date required by the provisions of
                  Sections 7.1(a) and (b) and Section 7.2(b) of the Syndicated
                  Credit Agreement, as appropriate, the Applicable Percentages
                  shall be based on Pricing Level I until such time as an
                  appropriate compliance certificate and the related financial
                  statements and information are delivered, whereupon the
                  applicable Pricing Level shall be adjusted based on the
                  information contained in such compliance certificate and
                  related financial statements and information. The Applicable
                  Percentage shall be effective from a Rate Determination Date
                  until the next such Rate Determination Date. The Bank shall
                  determine the appropriate Applicable Percentages in the
                  pricing matrix that is based on the Consolidated Leverage
                  Ratio promptly upon receipt of the quarterly or annual
                  compliance certificate and related financial information and
                  shall promptly notify the Borrower of any change thereof. Such
                  determinations by the Bank shall be conclusive absent manifest
                  error. Adjustments in the Applicable Percentages shall be
                  effective as to existing extensions of credit as well as new
                  extensions of credit made thereafter.

         SECTION 2.2 Amendment to Sections 2.02 through 2.09. Sections 2.02
through 2.09 of the Existing Credit Agreement are hereby amended in their
entirety to read as follows:

                  2.02 The Krona Advances shall be made, shall be repaid and
         shall bear interest in accordance with the terms of that certain
         Amended, Restated and Substituted Promissory Note dated June 22, 2001
         executed by the Swedish Subsidiary in favor of the Bank in the original
         principal amount of up to 14,000,000 Krona (the "Krona Note"), as such
         note may be amended, modified, supplemented, extended, renewed or
         replaced from time to time, the terms of which are incorporated herein
         by reference.

<PAGE>   26

                  2.03     The Guilder Advances shall be made, shall be repaid
         and shall bear interest in accordance with the terms of that certain
         Amended, Restated and Substituted Promissory Note dated June 22, 2001
         executed by the Netherlands Subsidiaries in favor of the Bank in the
         original principal amount of up to 5,000,000 Guilder (the "Guilder
         Note"), as such note may be amended, modified, supplemented, extended,
         renewed or replaced from time to time, the terms of which are
         incorporated herein by reference.

                  2.04     The Belgian Francs Advances shall be made, shall be
         repaid and shall bear interest in accordance with the terms of that
         certain Amended, Restated and Substituted Promissory Note dated June
         22, 2001 executed by the Belgian Subsidiary in favor of the Bank in the
         original principal amount of up to 5,000,000 Belgian Francs (the
         "Belgian Francs Note"), as such note may be amended, modified,
         supplemented, extended, renewed or replaced from time to time, the
         terms of which are incorporated herein by reference.

                  2.05     The Deutsche Marks Advances shall be made, shall be
         repaid and shall bear interest in accordance with the terms of that
         certain Amended, Restated and Substituted Promissory Note dated June
         22, 2001 executed by the German Subsidiary in favor of the Bank in the
         original principal amount of up to 5,000,000 Deutsche Marks (the
         "Deutsche Marks Note"), as such note may be amended, modified,
         supplemented, extended, renewed or replaced from time to time, the
         terms of which are incorporated herein by reference.

                  2.06     The Pound Sterling Advances shall be made, shall be
         repaid and shall bear interest in accordance with the terms of that
         certain Amended, Restated and Substituted Promissory Note dated June
         22, 2001 executed by McQueen in favor of the Bank in the original
         principal amount of up to 5,000,000 Pounds Sterling (the "Pound
         Sterling Note"), as such note may be amended, modified, supplemented,
         extended, renewed or replaced from time to time, the terms of which are
         incorporated herein by reference.

                  2.07     The Punts Advances shall be made, shall be repaid and
         shall bear interest in accordance with the terms of that certain
         Amended, Restated and Substituted Promissory Note dated June 22, 2001
         executed by McQueen in favor of the Bank in the original principal
         amount of up to 800,000 Punts (the "Punts Note"), as such note may be
         amended, modified, supplemented, extended, renewed or replaced from
         time to time, the terms of which are incorporated herein by reference.

                  2.08     The French Franc Advances shall be made, shall be
         repaid and shall bear interest in accordance with the terms of that
         certain Amended, Restated and Substituted Promissory Note dated June
         22, 2001 executed by McQueen in favor of the Bank in the original
         principal amount of up to 20,000,000 French Francs (the "French Francs
         Note"), as such note may be amended, modified, supplemented, extended,
         renewed or replaced from time to time, the terms of which are
         incorporated herein by reference.

                  2.09     The Dollar Advances shall be made, shall be repaid
         and shall bear interest in accordance with the terms of that certain
         Amended, Restated and Substituted Promissory Note dated June 22, 2001
         executed by the Borrower in favor of the Bank in the original principal
         amount of up to $15,000,000 (the "Dollar Note"), as such note may be
         amended, modified, supplemented, extended, renewed or replaced from
         time to time, the terms of which are incorporated herein by reference.

         SECTION 2.3 Amendment to Section 2.13(i). Section 2.13(i) of the
Existing Credit Agreement is hereby amended in its entirety to read as follows:

                  (i)      The Borrower shall pay the Bank a fee at a rate per
         annum equal to the Applicable Percentage on the undrawn amount of each
         Letter of Credit, such fee to be payable quarterly in arrears;

         SECTION 2.4 Addition of Section 2.14. A new Section 2.14 is hereby
added to the Existing Credit Agreement to read as follows:

                  Section 2.14 Commitment Fee. In consideration of the Bank's
         commitments hereunder, the Borrower agrees to pay to the Bank a
         commitment fee (the "Commitment Fee") equal to the Applicable

<PAGE>   27

         Percentage per annum on the average daily unused amount of the
         aggregate Revolving Loan Committed Amount for the applicable period.
         The Commitment Fee shall accrue from the Amendment No. 4 Effective Date
         and shall be payable quarterly in arrears on the 15th day following the
         last day of each calendar quarter for the immediately preceding quarter
         (or portion thereof) beginning with the first such date to occur after
         the Amendment No. 4 Effective Date.

         SECTION 2.5 Amendment to Section 3.05. Section 3.05 of the Existing
Credit Agreement is hereby amended by replacing the first sentence thereof with
the following:

                  The representations and warranties contained in Sections 6.1,
         6.2, 6.3, 6.6, 6.7, 6.9, 6.10, 6.12, 6.13, 6.14 and 6.15 of the
         Syndicated Credit Agreement, as in effect on the date of Amendment No.
         4 and after giving effect to any amendment or modification to the
         Syndicated Credit Agreement which the Bank, acting in its capacity as
         the lender hereunder, has approved in a writing referring to this
         Credit Agreement (the "Incorporated Representations"), are hereby
         incorporated by reference and shall be binding on the Borrower as if
         set forth fully herein.

         SECTION 2.6 Amendment to Section 4.01. Section 4.01 of the Existing
Credit Agreement is hereby amended by replacing the first sentence thereof with
the following:

                  The affirmative and negative covenants contained in Sections
         7.1 through 7.9 and Sections 8.1 through 8.9 of the Syndicated Credit
         Agreement, as in effect on the date of Amendment No. 4 and after giving
         effect to any amendment or modification to the Syndicated Credit
         Agreement which the Bank, acting in its capacity as the lender
         hereunder, has approved in a writing referring to this Credit Agreement
         (the "Incorporated Covenants"), are hereby incorporated by reference
         and shall be binding on the Borrower as if set forth fully herein.

                                       III
                           CONDITIONS TO EFFECTIVENESS

         SECTION  3.1. Amendment No. 4 Effective Date. This Amendment shall be
and become effective as of the date hereof (the "Amendment No. 4 Effective
Date") when all of the conditions set forth in this Section 3.1 shall have been
satisfied, and thereafter, this Amendment No. 4 shall be known, and may be
referred to, as "Amendment No. 4."

                  SECTION 3.1.1. Execution of Counterparts. The Bank shall have
         received (including by telecopy) counterparts of this Amendment No. 4
         which shall have been duly executed on behalf of the Borrower, the
         Guarantors, the other subsidiaries of the Borrower listed on the
         signature pages hereto and the Bank.

                  SECTION 3.1.2. Legal Details, Etc. All documents executed or
         submitted pursuant hereto shall be reasonably satisfactory in form and
         substance to the Bank and its counsel prior to or by the time of
         closing. Prior to or by the time of closing, the Bank and its counsel
         shall have received all information, and such counterpart originals or
         such certified or other copies of such originals, as the Bank or its
         counsel may reasonably request, and all legal matters incident to the
         transactions contemplated by this Amendment No. 4 shall be reasonably
         satisfactory to the Bank and its counsel.

                                       IV
                                  MISCELLANEOUS

         SECTION 4.1. Representations and Warranties. The Borrower hereby
represents and warrants to the Bank that, after giving effect to this Amendment,
(a) no Default or Event of Default exists under the Amended Credit Agreement or
any of the other Credit Documents and (b) the representations and warranties
incorporated pursuant to Section 3.05 of the Amended Credit Agreement are,
subject to the limitations set forth therein, true and correct in all material
respects as of the date hereof (except for those which expressly relate to an
earlier date).

<PAGE>   28

         SECTION 4.2. Cross-References. References in this Amendment to any
Section are, unless otherwise specified, to such Section of this Amendment.

         SECTION 4.3. Instrument Pursuant to Existing Credit Agreement. This
Amendment is a document executed pursuant to the Existing Credit Agreement and
shall (unless otherwise expressly indicated therein) be construed, administered
and applied in accordance with the terms and provisions of the Existing Credit
Agreement.

         SECTION 4.4. Credit Documents. The Borrower, the Guarantors and the
other subsidiaries of the Borrower listed on the signature pages hereto hereby
confirm and agree that the Credit Documents are, and shall continue to be, in
full force and effect, and hereby ratify and confirm in all respects their
obligations thereunder, except that, upon the effectiveness of, and on and after
the date of this Amendment, all references in each Credit Document to the
"Credit Agreement", "thereunder", "thereof" or words of like import referring to
the Existing Credit Agreement shall mean the Amended Credit Agreement.

         SECTION 4.5. Counterparts, Effectiveness, Etc. This Amendment may be
executed by the parties hereto in several counterparts, each of which shall be
deemed to be an original and all of which shall constitute together but one and
the same agreement. Delivery of executed counterparts of this Amendment by
telecopy shall be effective as an original and shall constitute a representation
that an original shall be delivered.

         SECTION 4.6. Governing Law; Entire Agreement. THIS AMENDMENT SHALL BE
DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE
STATE OF NORTH CAROLINA WITHOUT GIVING EFFECT TO THE CONFLICT OF LAW PRINCIPLES
THEREOF.

         SECTION 4.7. Successors and Assigns. This Amendment shall be binding
upon and inure to the benefit of the parties hereto and their respective
successors and assigns.

         IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective duly authorized officers as of the day and year
first above written.

BORROWER:                                SYKES ENTERPRISES, INCORPORATED
--------

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

GUARANTORS:                         SYKES REALTY, INC.
----------

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

<PAGE>   29

                                    SYKES E-COMMERCE INCORPORATED

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

SUBSIDIARIES OF THE BORROWER:
----------------------------
                                    DATASVAR SUPPORT AB,
                                    STOCKHOLM SWEDEN

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

                                    SYKES ENTERPRISES GmbH

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

                                    SYKES ENTERPRISES INCORPORATED
                                    HOLDINGS BV

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

                                    SYKES ENTERPRISES INCORPORATED BV

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

                                    SYKES HOLDINGS OF BELGIUM B.V.B.A.

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

<PAGE>   30

BANK:                               BANK OF AMERICA, N.A., formerly known
----                                as NationsBank, N.A.

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

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