$150,000 November 28, 2000 Denver, Colorado
FOR VALUE RECEIVED, the undersigned (the "Borrower") hereby promises to pay to the order of TeleTech
Holdings, Inc. (the "Holder") the principal sum of $150,000, together with interest on the unpaid balance accruing
at a rate of 6% per annum.
Principal and interest shall be payable at TeleTech Holdings, Inc., 1700 Lincoln Street, 14th Floor, Denver,
Colorado 80203, or such other place as the Holder may designate, in twelve payments of $12,500, due on the
1st day of each month (each a "Payment Date"), beginning April 1, 2001. Borrower agrees to execute any further
documents necessary or desirable to evidence this debt or perfect Holder's security interest, as may be requested
by Holder from time to time. Payments will be applied first to interest and taxes, and then to the principal balance.
Any bonus payments payable by Holder or any of its affiliates to Borrower (collectively "Bonus Payments") and
all proceeds from the exercise of stock options granted by Holder or any affiliate of Holder, including proceeds
from the sale of shares underlying such stock options ("Stock Option Proceeds"), shall be applied toward
repayment of the loan evidenced by this Note. In furtherance of such application, Borrower hereby assigns to
Holder any and all Bonus Payments and Stock Option Proceeds until this Note is paid in full, and Borrower
agrees to provide his broker with irrevocable instructions to pay Holder all proceeds from any option exercise
prior to payment in full of all amounts evidenced by this Note. Furthermore, Holder shall be entitled to withhold
from Borrower payment of any Bonus Payments and to redirect any such Bonus Payments towards repayment of
the loan evidenced by this Note.
Borrower's payment obligations hereunder shall continue until the entire indebtedness evidenced by this Note is
fully paid; provided, however, if not sooner paid, the entire principal amount outstanding and accrued interest