diff --git a/CHANGELOG.md b/CHANGELOG.md
index a4af2ef82ec..ee3a8df122d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -15,6 +15,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
   ([#2870](https://github.com/open-telemetry/opentelemetry-python/pull/2870))
 - Fix: Remove `LogEmitter.flush()` to align with OTel Log spec
   ([#2863](https://github.com/open-telemetry/opentelemetry-python/pull/2863))
+- Fix: Handle `backoff` dependency version 1.0 and 2.0
+  ([#2915](https://github.com/open-telemetry/opentelemetry-python/pull/2915))
 
 ## [1.12.0-0.33b0](https://github.com/open-telemetry/opentelemetry-python/releases/tag/v1.12.0) - 2022-08-08
 
diff --git a/exporter/opentelemetry-exporter-otlp-proto-grpc/pyproject.toml b/exporter/opentelemetry-exporter-otlp-proto-grpc/pyproject.toml
index 2e05816e8d6..0aab086cdca 100644
--- a/exporter/opentelemetry-exporter-otlp-proto-grpc/pyproject.toml
+++ b/exporter/opentelemetry-exporter-otlp-proto-grpc/pyproject.toml
@@ -24,8 +24,7 @@ classifiers = [
   "Programming Language :: Python :: 3.10",
 ]
 dependencies = [
-  "backoff >= 1.10.0, < 2.0.0; python_version<'3.7'",
-  "backoff >= 1.10.0, < 3.0.0; python_version>='3.7'",
+  "backoff >= 1.10.0, < 3.0.0",
   "googleapis-common-protos ~= 1.52",
   "grpcio >= 1.0.0, < 2.0.0",
   "opentelemetry-api ~= 1.3",
diff --git a/exporter/opentelemetry-exporter-otlp-proto-grpc/src/opentelemetry/exporter/otlp/proto/grpc/exporter.py b/exporter/opentelemetry-exporter-otlp-proto-grpc/src/opentelemetry/exporter/otlp/proto/grpc/exporter.py
index 4405bcad68b..6a1322becb1 100644
--- a/exporter/opentelemetry-exporter-otlp-proto-grpc/src/opentelemetry/exporter/otlp/proto/grpc/exporter.py
+++ b/exporter/opentelemetry-exporter-otlp-proto-grpc/src/opentelemetry/exporter/otlp/proto/grpc/exporter.py
@@ -24,8 +24,9 @@
 from typing import TypeVar
 from urllib.parse import urlparse
 from opentelemetry.sdk.trace import ReadableSpan
+import sys
 
-from backoff import expo
+import backoff
 from google.rpc.error_details_pb2 import RetryInfo
 from grpc import (
     ChannelCredentials,
@@ -282,81 +283,58 @@ def _translate_attributes(self, attributes) -> TypingSequence[KeyValue]:
     def _export(
         self, data: Union[TypingSequence[ReadableSpan], MetricsData]
     ) -> ExportResultT:
+        try:
+            self._export_backoff(data)
+        except RpcError:
+            return self._result.FAILURE
 
-        # FIXME remove this check if the export type for traces
-        # gets updated to a class that represents the proto
-        # TracesData and use the code below instead.
-        # logger.warning(
-        #     "Transient error %s encountered while exporting %s, retrying in %ss.",
-        #     error.code(),
-        #     data.__class__.__name__,
-        #     delay,
-        # )
-        max_value = 64
-        # expo returns a generator that yields delay values which grow
-        # exponentially. Once delay is greater than max_value, the yielded
-        # value will remain constant.
-        for delay in expo(max_value=max_value):
-
-            if delay == max_value:
-                return self._result.FAILURE
-
-            try:
-                self._client.Export(
-                    request=self._translate_data(data),
-                    metadata=self._headers,
-                    timeout=self._timeout,
-                )
+    @backoff.on_exception( backoff.expo, RpcError, max_time=120, on_backoff=self._on_backoff)
+    def _export_backoff(
+        self, data: Union[TypingSequence[ReadableSpan], MetricsData]
+    ) -> ExportResultT:
+        try:
+            self._client.Export(
+                request=self._translate_data(data),
+                metadata=self._headers,
+                timeout=self._timeout,
+            )
 
-                return self._result.SUCCESS
+            return self._result.SUCCESS
 
-            except RpcError as error:
+        except RpcError as error:
 
-                if error.code() in [
-                    StatusCode.CANCELLED,
-                    StatusCode.DEADLINE_EXCEEDED,
-                    StatusCode.RESOURCE_EXHAUSTED,
-                    StatusCode.ABORTED,
-                    StatusCode.OUT_OF_RANGE,
-                    StatusCode.UNAVAILABLE,
-                    StatusCode.DATA_LOSS,
-                ]:
+            if error.code() in [
+                StatusCode.CANCELLED,
+                StatusCode.DEADLINE_EXCEEDED,
+                StatusCode.RESOURCE_EXHAUSTED,
+                StatusCode.ABORTED,
+                StatusCode.OUT_OF_RANGE,
+                StatusCode.UNAVAILABLE,
+                StatusCode.DATA_LOSS,
+            ]:
 
-                    retry_info_bin = dict(error.trailing_metadata()).get(
-                        "google.rpc.retryinfo-bin"
-                    )
-                    if retry_info_bin is not None:
-                        retry_info = RetryInfo()
-                        retry_info.ParseFromString(retry_info_bin)
-                        delay = (
-                            retry_info.retry_delay.seconds
-                            + retry_info.retry_delay.nanos / 1.0e9
-                        )
-
-                    logger.warning(
-                        (
-                            "Transient error %s encountered while exporting "
-                            "%s, retrying in %ss."
-                        ),
-                        error.code(),
-                        self._exporting,
-                        delay,
-                    )
-                    sleep(delay)
-                    continue
-                else:
-                    logger.error(
-                        "Failed to export %s, error code: %s",
-                        self._exporting,
-                        error.code(),
+                retry_info_bin = dict(error.trailing_metadata()).get(
+                    "google.rpc.retryinfo-bin"
+                )
+                if retry_info_bin is not None:
+                    retry_info = RetryInfo()
+                    retry_info.ParseFromString(retry_info_bin)
+                    delay = (
+                        retry_info.retry_delay.seconds
+                        + retry_info.retry_delay.nanos / 1.0e9
                     )
+                raise
+            else:
+                logger.error(
+                    "Failed to export %s, error code: %s",
+                    self._exporting,
+                    error.code(),
+                )
 
-                if error.code() == StatusCode.OK:
-                    return self._result.SUCCESS
-
-                return self._result.FAILURE
+            if error.code() == StatusCode.OK:
+                return self._result.SUCCESS
 
-        return self._result.FAILURE
+            return self._result.FAILURE
 
     def shutdown(self) -> None:
         pass
@@ -369,3 +347,16 @@ def _exporting(self) -> str:
         warning messages.
         """
         pass
+
+    def _on_backoff(self, details):
+        _, error, _ = sys.exc_info().code()
+        assert isinstance(error, RpcError)
+        logger.warning(
+            (
+                "Transient error %s encountered while exporting "
+                "%s, retrying in %ss."
+            ),
+            error.code(),
+            self._exporting,
+            details["wait"],
+        )