Exhibit 10.14

March 24,
2011

Mr. Michael
E. McGrath
15116 Vizcaya Drive
Dallas, TX 75248

Re: Third Amendment to Terms and Conditions of Employment

Dear
Michael:

This
letter will evidence the terms and conditions relating to an amendment of the letter agreement entered into by Thomas Group, Inc. (the "Company") and you dated
February 19, 2008, as previously amended by the Amendment to Terms and Conditions of Employment entered into by the Company and you and dated March 3, 2009 (the Employment Letter") and
subsequently amended March 2, 2010.

The
terms of this amendment are effective March 1, 2011.

The
Employment Letter is hereby amended so that Section 1(c) of the Employment Letter shall read in its entirety as follows:

1.    Time Commitment.The Employment Letter is hereby amended so that Section 1 (c) of the
Employment Letter shall read in its entirety as follows:



2.    Compensation.The Employment Letter is hereby amended so that Section 1 (d) of the Employment
Letter shall read in its entirety as follows: (d)Compensation.Your base salary effective March 1, 2011 shall be $250,000. This shall be
payable in accordance with the Company's standard policies and subject to standard withholdings and deductions. In addition, effective March 1, 2011 you will receive 50% of the billable value
of your own personal time charged to client contracts, according the Company's standard policies. The company will pay for this portion of your time monthly through Decisions Decisions LLC
based on invoices received.

3.    Restricted Share Award

The
Compensation and Corporate Governance Committee of the Board of Directors of the Company has approved a grant to you of a total of up to 60,000 shares of restricted stock to be
distributed to you over the course of 2011. In accordance with and subject to the terms of the Restricted Share Award agreement governing such award, you will receive 15,000 shares on the last day of
each quarter of 2011, provided that you remain employed by the Company in the roles of Executive Chairman, President and Chief Executive Officer on the last day of each quarter of 2011.

4.    Annual Bonus.

Notwithstanding
Section 2(c) of the Employment Letter, you will no longer be eligible for an annual bonus.

JC

MEMInitials

Initials


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5.    Retention Payment

In
order to encourage you to enhance and preserve the value of the Company and to ensure your continuing support, the Company considers it appropriate to provide you with retention pay
if your employment is terminated by the Company without Cause.



6.    Business Expenses.

The
Company will continue to reimburse you for the travel, entertainment and other business expenses incurred by you in the performance of your duties in accordance with the Company's
policies applicable to senior executives as in effect from time to time. The Company agrees to increase your reimbursement for the actual cost of first-class commercial airline fares for travel from
your residences in Maine or Boston to Dallas, not to exceed $50,000 in a 12-month period.

7.    Ratification.

Except
as amended or modified by this letter, the Employment Letter is hereby ratified by each of the parties hereto and shall remain in full force and effect in accordance with its
terms.

JC

MEMInitials

Initials


2

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8.    Counterparts.

This
letter may be executed in several counterparts, each of which shall be deemed to be an original but all of which together will constitute one and the same instrument.

If
you agree that the foregoing terms and conditions accurately evidence our agreement, please initial each page and sign and return this letter.

My best regards,
THOMAS GROUP, INC./s/ John T. Chain, Jr.By: General John T. Chain, Jr.Director and Chairman of the Compensation and Corporate Governance CommitteeACCEPTED AND AGREED:/s/ Michael E. McGrathMichael E. McGrath
March 24, 2011


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