**Exhibit        10.1**

**SERIES        A PREFERRED STOCK**

**SUBSCRIPTION AGREEMENT**

This **Series A Preferred Stock Subscription Agreement** (this        “Agreement”) is made as of this 31st day of March, 2008, by and among        **SPAR Group, Inc.**, a Delaware corporation (the “Corporation”),        each of **Robert G. Brown** and **William H. Bartels** (each a        “Purchaser”, and collectively, the “Purchasers”), and        **SPAR Management Services, Inc.**, a Nevada corporation wholly owned by the Purchasers        (“SMSI”).

Section        1.           Purchase and Sale of the        Preferred Shares. Subject to the terms and conditions of this Agreement, each Purchaser        subscribes for and hereby purchases and acquires from the Corporation, and the Corporation        hereby sells and issues to each Purchaser, the number of shares of the Corporation’s        Series A Preferred Stock, par value $0.01 per share, specified for such Purchaser        (collectively, the “Preferred Shares”), at a purchase price of $1.12 per        Share:

|   | (a) | 54,564                        Preferred Shares to Robert G. Brown, and |
|--------|-----|------------------------------------------------------------------------|
|        | (b) | 34,722 Preferred Shares to William H. Bartels.                         |

The Purchasers shall cause SMSI        to reduce the Corporation’s payable to it by the aggregate purchase price of        $100,000.32 (the “Purchase Price”), as payment in full for all such        Preferred Shares. The Purchasers hereby direct SMSI to reduce, and by its signature below,        SMSI hereby agrees to reduce and hereby reduces, the outstanding balance of SMSI’s        receivables owed by the Corporation in the amount of the Purchase Price (applied oldest to        youngest) and will reflect the same on its books and records.

Section        2.           Representations and        Covenants of the Corporation. In order to induce them to enter into this Agreement, the        Corporation represents and warrants the following to each Purchaser: (a) the Corporation is        and will continue to be a corporation duly organized, validly existing and in good standing        under the laws of the State of Delaware; (b) the Corporation has and will maintain full and        unrestricted power, authority and legal capacity, and it has been duly authorized and        empowered, to the extent necessary to execute and deliver this Agreement and make this        Agreement enforceable against it; (c) the Corporation has obtained and will maintain all        qualifications, authorizations, approvals and waivers, and it has satisfied and will        continue to satisfy all other applicable legal, governance and contractual requirements, to        the extent necessary to execute and deliver this Agreement and make this Agreement        enforceable against it; (d) this Agreement has been duly executed and delivered by the        Corporation, and, upon its execution by the Purchasers, shall constitute the legal, valid        and binding obligation of the Corporation, enforceable in accordance with its terms, except        to the extent that its enforcement is limited by bankruptcy, insolvency, reorganization or        other laws relating to or affecting the enforcement of creditors’ rights generally        and by general principles of equity; (e) the authorized capital stock of the Corporation is        50,000,000 shares, consisting of (i) 47,000,000 shares of common stock, par value $.01 per        share, and (ii) 3,000,000 shares of preferred stock, par value $.01 per share; (f) the        holder’s conversion rights, Corporation’s redemption rights, payment and        liquidation preferences over common, and other terms, provisions and conditions respecting        the Preferred Shares are stated in the Series A Preferred Stock Designation as filed with        the Delaware Secretary of State on March 28, 2008 (the “Series A        Designation”); and (g) upon issuance in accordance with the terms of this        Agreement, the Preferred Shares will be duly and validly authorized and issued and fully        paid and nonassessable.

Section        3.           Representations and        Warranties of the Purchaser. In order to induce it to enter into this Agreement, each        Purchaser represents and warrants (as to himself only) the following to the Corporation as        of the date hereof: (a) the Purchaser has and will maintain full and unrestricted power,        authority and legal capacity to the extent necessary to execute and deliver this Agreement        and make this Agreement enforceable against him; (b) the Purchaser has obtained and will        maintain all qualifications, authorizations, approvals and waivers, and he has satisfied        and will continue to satisfy all other applicable legal, governance and contractual        requirements, to the extent necessary to execute and deliver this Agreement and make this        Agreement enforceable against him; (c) this Agreement has been duly executed and delivered        by the Purchaser, and, upon its execution by the Corporation, shall constitute the legal,        valid and binding obligation of the Purchaser, enforceable in accordance with its terms,        except to the extent that its enforcement is limited by bankruptcy, insolvency,        reorganization or other laws relating to or affecting the enforcement of creditors’        rights generally and by general principles of equity; (d) the Purchaser has knowledge and        experience in financial and business matters as to be capable of evaluating the merits and        risks of his investment in the Preferred Shares; (e) the Purchaser        understands

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that an investment in the        Corporation represents a high degree of risk and there is no assurance that the        Corporation’s business or operations will be successful; (f) as an officer and        director, the Purchaser regularly receives and reviews information pertaining to the        Corporation, including (without limitation) the Corporation’s Annual Report on Form        10-K for the Fiscal Year ended December 31, 2008 (the “2007 Annual        Report”), the Purchaser has received all of the information that he requested in        connection with the decision to purchase the Preferred Shares, the Purchaser has        independently reviewed and evaluated the 2007 Annual Report, the Series A Designation, and        other information provided by the Corporation in connection with the decision to purchase        the Preferred Shares, the Purchaser has had an opportunity to ask questions and receive        answers from the Corporation regarding the business, properties, prospects and financial        condition of the Corporation, and all such questions have been answered to the full        satisfaction of the Purchaser; (g) the Purchaser has considered carefully the risks        attendant to an investment in the Corporation and the Preferred Shares (including, without        limitation, the Risk Factors described in the 2007 Annual Report), and that, as a        consequence of such risks, the Purchaser understands he could lose his entire investment in        the Preferred Shares; (h) the Purchaser further understands that (i) neither the        offering nor the sale of the Preferred Shares has been registered under the Securities Act        of 1933, as amended (the “Securities Act”) or any applicable state laws        in reliance upon exemptions from the registration requirements of such laws, (ii) the        Preferred Shares must be held by him indefinitely unless the sale or transfer thereof is        subsequently registered under the Securities Act and any applicable state laws, or an        exemption from such registration requirements is available, and (iii) the Corporation will        rely upon the representations and warranties made by the Purchaser in this Agreement in        order to establish such exemptions from the registration requirements of the Securities Act        and any applicable state laws; (i) the Preferred Shares are being acquired for investment        for the Purchaser’s own account, and not as a nominee or agent and not with a view to        the resale, transfer or distribution of all or any part of the Preferred Shares; (j) the        Purchaser has no present intention of selling, transferring or distributing any of the        Preferred Shares, or granting any participation in any of the Preferred Shares, to any        individual, entity or other person within the meaning of the Securities Act; and (k) the        Purchaser does not have any contracts, understandings, agreements or arrangements to sell,        transfer or distribute any of the Preferred Shares, or grant any participation in any of        the Preferred Shares, to any individual, entity or other person.

Section        4.           Further Assurances.        The parties will, upon reasonable request, execute and deliver all such further        assignments, endorsements and other documents as may be necessary in order to implement and        perfect the purchase by the Purchasers of the Preferred Shares.

Section        5.           Successors and Assigns;        No Third Party Benefits; Headings, Etc. The representations, warranties, covenants and        other agreements made by or on behalf of each party in this Agreement shall be binding upon        the successors, permitted assigns, heirs and legal representatives of such party and shall        inure to the benefit of the successors, permitted assigns, heirs and legal representatives        of each other party. The provisions of this Agreement are for the exclusive benefit of the        parties hereto, and, except as otherwise expressly provided herein, no other person        (including creditors of any party hereto) shall have any right or claim against any party        by reason of any of those provisions or be entitled to enforce any of those provisions        against any party. The section headings in this Agreement are for reference purposes only        and shall not affect the meaning or interpretation of this Agreement.

Section        6.           Governing Law. This        Agreement shall be governed by, and construed and enforced in accordance with, (a) to the        extent applicable, the General Corporation Law and Article 8 of the Uniform Commercial Code        of the State of Delaware, each as amended, and (b) to the extent that such Delaware laws        are not applicable, the applicable law of the State of New York other than those conflict        of law rules that would defer to the substantive laws of any other        jurisdiction.

Section        7.           Counterparts and        Amendments. This Agreement or any amendment hereto may have been executed in two or        more counterparts of the entire document or its signatures pages, any of which may have        been delivered by telecopy, pdf or other electronic means, and all of which, when taken        together, shall constitute a single agreement binding upon all of the parties hereto.        Except for a party’s consent or waiver hereunder (which need only be signed by it),        each and every supplement, modification and amendment respecting this Agreement shall be in        writing and signed by all of the parties hereto.

Section        8.           Entire Agreement.        This Agreement contains the entire agreement of the parties, and supersedes and completely        replaces all prior and other communications, discussions and other representations,        warranties, promises, assurances, agreements and understandings (whether written, oral,        express, implied or otherwise) between the parties, with respect to the matters contained        in this Agreement.

         

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IN WITNESS WHEREOF, the parties        hereto have executed this Agreement as of the date first written above.

         

|  | /s/ Robert                    G. Brown        |
|--|-----------------------------------------------|
|  | **Robert G. Brown                     ** |
|  | /s/ William                    H. Bartels     |
|  | **William H. Bartels**                        |

         

         

         

|        | **SPAR Group,                    Inc.** |
|--------|-----------------------------------------|
|        |                               |    |
|        |                               |    |
|   | By:                                     | /s/                        James R. Segreto |
|        |                                         | Name: | James R. Segreto |
|        |                                         | Title: | Chief Financial Officer |

         

         

**ACKNOWLEDGED AND AGREED        TO:**

 

**SPAR Management Services,        Inc.**

 

 

| By: | /s/                        Robert G. Brown                                |  |
|-----|---------------------------------------------------------------------------|--|
|     | Name: Robert G.                    Brown                                  |
|     | Title: Chairman,                    Chief Executive Officer and President |

         

         

         

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