Sec Form 4 Filing - Clemmans Doug @ TELETECH HOLDINGS INC - 2007-02-05

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Clemmans Doug 2. Issuer Name and Ticker or Trading Symbol TELETECH HOLDINGS INC [ TTEC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Marketing Officer (Last) (First) (Middle) C/O TELETECH HOLDINGS, INC., 9197 S. PEORIA STREET 3. Date of Earliest Transaction (MM/DD/YY) 02/05/2007 (Street) ENGLEWOOD, CO80112 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Restricted Stock Unit $ 27.61 02/05/2007 G 150,000 02/05/2009( 1 ) 02/05/2017 Common Stock 150,000 $ 27.61 150,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Clemmans Doug C/O TELETECH HOLDINGS, INC. 9197 S. PEORIA STREET ENGLEWOOD, CO80112 Chief Marketing Officer Signatures /s/ Doug Clemmans 02/07/2007 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Restricted Stock Units are divided into three classes one which vests based on performance metrics set by the Company and one which is based on time as follows: (i) 25,000 RSU's vest in equal installments over a four year period beginning on the second anniversary date of the date of grant conditioned upon Grantee's continued employment; (ii) 25,000 RSU's vest on the eighth anniversary of employment but 10,000 may vest in month 25 based on performance metrics set by the Company, 10,000 may vest in month 37 based on performance metrics set by the Company and 5,000 may vest in month 49 based on performance metrics set by the Company; and (iii) 100,000 RSU's vest in installments based upon achievement of revenue goals such that in the event that revenue goals are achieved for each corresponding period, 33% vest in month 25, 33% vest in month 37 and 33% vest in month 49.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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