TTEC Holdings, Inc. — Director's Dealing 2008

Sep 4, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TELETECH HOLDINGS INC (TTEC)
CIK: 0001013880
Period of Report: 2008-09-02

Reporting Person: Delaney Brian James (EVP and Chief Operations Off.)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-09-02	Employee Stock Option (right to buy)	$7.78	A	12000	Acquired	2014-06-07	Common Stock (12000)	Direct
2008-09-02	Employee Stock Option (right to buy)	$8.37	D	12000	Disposed	2014-06-07	Common Stock (12000)	Direct
2008-09-02	Employee Stock Option (right to buy)	$8.59	A	50000	Acquired	2015-09-09	Common Stock (50000)	Direct
2008-09-02	Employee Stock Option (right to buy)	$8.93	D	50000	Disposed	2015-09-09	Common Stock (50000)	Direct

Footnotes

F1: The reporting person agreed to an offer to amend outstanding stock options that were initially granted on June 7, 2004 (before the reporting person was subject to Section 16 reporting obligations). Pursuant to the terms of the amendment, which were authorized by the Compensation Committee, the option exercise price increased from $7.78 to $8.37 per share and the reporting person will receive a cash payment equal to $7,080 in January 2009 (an amount which reflects the $0.59 increase in the option exercise price multiplied by the 12,000 options outstanding). All other terms of the stock options, including the vesting schedule, remain the same. For purposes of Section 16 reporting, this amendment is reported as a cancellation of the outstanding stock options and an issuance of new stock options.

F2: Options to purchase 6,000 shares became exercisable on June 7, 2008 and options to purchase an additional 6,000 shares will become exercisable on June, 7, 2009.

F3: The reporting person agreed to an offer to amend outstanding stock options that were initially granted on September 9, 2005 (before the reporting person was subject to Section 16 reporting obligations). Pursuant to the terms of the amendment, which were authorized by the Compensation Committee, the option exercise price increased from $8.59 to $8.93 per share and the reporting person will receive a cash payment equal to $17,000 in January 2009 (an amount which reflects the $0.34 increase in the option exercise price multiplied by the 50,000 options outstanding). All other terms of the stock options, including the vesting schedule, remain the same. For purposes of Section 16 reporting, this amendment is reported as a cancellation of the outstanding stock options and an issuance of new stock options.

F4: The options become exercisable in two equal annual installments beginning on September 9, 2008.