Exhibit 10.29

CONSULTING AGREEMENT

THIS CONSULTING AGREEMENTis made and entered into as of February 5, 2004, by and between Thomas Group,
 Inc.,a Delaware corporation (the "Company") andGeneral
John T. Chain, Jr. ("Consultant").

Recitals

A.    Consultant
has served as a director of the Company since 1995 and is a major stockholder of the Company.

B.    The
Company desires to have the benefit of Consultant's knowledge and experience as a consultant to the Company and Consultant is willing to serve as a consultant to the
Company on the terms and conditions contained in this Agreement.

Agreement

1.Consulting Services.The Company hereby engages Consultant to consult with and advise
the Company, at such reasonable times as may be requested by the Company, with respect to: (i) marketing and sales, (ii) corporate finance strategies and (iii) the Company's
relationship with the financial and investment communities. Consultant shall devote such time to the performance of his duties as may in his judgment be reasonably necessary. Services as a consultant
shall be in addition to General Chain's services as Chairman of the Board of Directors of the Company.

2.Term.The term of this Agreement shall be two years commencing January 1,
2003, and ending December 31, 2004, unless sooner terminated pursuant to paragraph 6 below.

3.Compensation.During the term of this Agreement, the Company shall pay the Consultant
an annual fee of $100,000 payable quarterly at the end of each quarter.

4.Expenses.Company shall reimburse Consultant for all reasonable and ordinary
out-of-pocket business expenses Consultant incurs in the performance of its duties under this Consulting Agreement.

5.Independent Contractor.Consultant is not an employee of the Company and the
relationship of Consultant to the Company is that of an independent contractor and Consultant shall not, in such capacity, be entitled to benefits provided Company employees. Consultant shall be
responsible for all federal, state and local income, self-employment and similar taxes with respect to the consulting fees paid hereunder. Without limiting the scope of the preceding
sentences, Consultant, in his capacity as such, shall have no power or authority to commit the Company to any obligation of any kind.

6.Termination.This Agreement may be terminated by the Company only as follows:



7.Notices.All notices and other communications hereunder shall be in writing and shall
be deemed given when delivered personally, sent by confirmed facsimile transmission or mailed by

---

registered
or certified mail (return receipt requested) to the parties at the following addresses (or at such other address as a party may specify by like notice):



8.Governing Law.This Agreement shall be governed by and interpreted and enforced in
accordance with the laws of the State of Texas.

9.Entire Agreement.This Agreement constitutes the entire agreement between the parties
with respect to the subject matter hereof and supersedes all prior written or oral agreements, understandings and discussions of the parties with respect to the subject matter hereof.

EXECUTED
as of the date first written above.

| |  | THOMAS GROUP, INC.                             
| |  | -----------------------------------------------
| |  | By:                                            
| |  | Name:                                          
| |  | Title:                                         
| |  | /s/JOHN T. CHAIN, JR.General John T. Chain, Jr.

2

---

QuickLinks