Document:

Exhibit 4.1

 

	
  

  	
  THIS CERTIFIES
  THAT is the owner of CUSIP DATED COUNTERSIGNED AND REGISTERED: COMPUTERSHARE
  TRUST COMPANY, N.A. TRANSFER AGENT AND REGISTRAR, FULLY-PAID AND
  NON-ASSESSABLE SHARES OF COMMON STOCK, PAR VALUE $.01 PER SHARE, OF Thomas
  Group, Inc., transferable on the books of the Corporation by the holder
  hereof in person or by attorney upon surrender of this Certificate properly
  endorsed. This Certificate is not valid unless countersigned by the Transfer
  Agent and registered by the Registrar. This Certificate and the shares
  represented hereby are issued and shall be held subject to all of the
  provisions of the Amended and Restated Certificate of Incorporation, as
  amended, from time to time, of the Corporation (a copy of which Amended and
  Restated Certificate of Incorporation is on file with the Transfer Agent), to
  all of which, holder, by acceptance hereof, consents. In Witness Whereof, the
  Corporation has caused the facsimile signatures of its duly authorized
  officers and the facsimile seal of the Corporation to be affixed to this
  Certificate. COMMON STOCK PAR VALUE $.01 COMMON STOCK THIS CERTIFICATE IS
  TRANSFERABLE IN CANTON, MA AND NEW YORK, NY SEE REVERSE FOR CERTAIN
  DEFINITIONS Certificate Number Shares . THOMAS GROUP, INC. INCORPORATED UNDER
  THE LAWS OF THE STATE OF DELAWARE Executive Chairman of the Board, President,
  and Chief Executive Officer Treasurer By AUTHORIZED SIGNATURE 016570|
  003590|127C|RESTRICTED||4|057-423 884402 20 7 <<Month Day, Year>>
  * * 600620* * * * * * * * * 600620* * * * * * * * * 600620* * * * * * * * *
  600620* * * * * * * * * 600620* * ** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Alexander
  David Sample **** Mr. Alexander David Sample **** Mr. Alexander David Sample
  **** Mr. Alexander David Sample **** Mr. Alexander David Sample **** Mr.
  Alexander David Sample **** Mr. Alexander David Sample **** Mr. Sample ****
  Mr. Sample **600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares***
  *600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****
  600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****6
  00620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****60
  0620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600
  620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares***600620**Shares****600620**Shares****60062
  0**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620
  **Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620*
  *Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**
  Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**S
  hares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Shares****600620**Sh
  * * * SIX HUNDRED THOUSAND SIX HUNDRED AND TWENTY* * * MR. SAMPLE & MRS.
  SAMPLE & MR. SAMPLE & MRS. SAMPLE NNNNN ZQ 000000 Certificate Numbers
  1234567890/1234567890 1234567890/1234567890 1234567890/1234567890 1234567890/1234567890
  1234567890/1234567890 1234567890/1234567890 Total Transaction Num/No. 123456
  Denom. 123456 Total 1234567 MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD
  3 ADD 4 PO BOX 43004, Providence, RI 02940-3004 CUSIP XXXXXX XX X Holder ID
  XXXXXXXXXX Insurance Value 1,000,000.00 Number of Shares 123456 DTC 12345678
  123456789012345 

  

 

 

	
  

  	
  The following
  abbreviations, when used in the inscription on the face of this certificate,
  shall be construed as though they were written out in full according to
  applicable laws or regulations: TEN COM - as tenants in common UNIF GIFT MIN
  ACT- . . . . . . . . . .Custodian . . . . . . . . . . . . . . . TEN ENT - as
  tenants by the entireties under Uniform Gifts to Minors Act . . . . . . . . .
  . . . . JT TEN - as joint tenants with right of survivorship UNIF TRF MIN ACT
  . . . . . . . . . . . . . . .Custodian (until age. . . ). . . . . . . . . . .
  and not as tenants in common (Cust) (Minor) under Uniform Transfers to Minors
  Act. . . . . . . . . . (State) Additional abbreviations may also be used
  though not in the above list. For value received, ____________________________hereby
  sell, assign and transfer unto
  _______________________________________________________________________________________________________________________________
  _______________________________________________________________________________________________________________________________
  _______________________________________________________________________________________________________________________________
  _______________________________________________________________________________________________________________________
  Shares
  _______________________________________________________________________________________________________________________
  Attorney Dated:
  __________________________________________20__________________ Signature:
  ____________________________________________________________ Signature:
  ____________________________________________________________ Notice: The
  signature to this assignment must correspond with the name as written upon
  the face of the certificate, in every particular, without alteration or
  enlargement, or any change whatever. (Cust) (Minor) (State) PLEASE INSERT
  SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE (PLEASE PRINT OR
  TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF ASSIGNEE) represented
  by the within Certificate, and do hereby irrevocably constitute and appoint
  to transfer the said stock on the books of the within-named Corporation with
  full power of substitution in the premises. . THOMAS GROUP, INC. THE
  CORPORATION WILL FURNISH WITHOUT CHARGE TO EACH STOCKHOLDER WHO SO REQUESTS
  THE POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL
  OR OTHER SPECIAL RIGHTS OF EACH CLASS OF STOCK OR SERIES THEREOF OF THE
  CORPORATION, AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH
  PREFERENCES AND/OR RIGHTS. SUCH REQUEST MAY BE MADE TO THE CORPORATION, OR TO
  THE TRANSFER AGENT OF THE CORPORATION. Signature(s) Guaranteed: Medallion
  Guarantee Stamp THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE
  GUARANTOR INSTITUTION (Banks, Stockbrokers, Savings and Loan Associations and
  Credit Unions) WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION
  PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.QuickLinks
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  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: 

        (c)    Time Commitment.    You are not expected to apply all of your business time and energy to your duties as
Executive Chairman, Chief Executive Officer and President. 

        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	
 	
MEM	
 	

 
	 	 	 	 	 	 	 
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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. 

        a.     In
that event, the Company will pay to you in cash a retention payment (the "Retention Payment") in an amount equal to six (6) months of your annual base salary,
at the time of termination of your employment, payable in a lump sum as soon as practicable, but in no event more than 15 days, following the date of your termination. Such Retention Payment
shall be subject to such deductions and withholdings as may be required to be made pursuant to law or by agreement with you. 

        b.     While
the actual amount of the Retention Payment will be determined based on your annual base salary at the time of termination, based on your current annual base salary
as of the date of this Agreement of $250,000.00, your Retention Payment would be $125,000. 

        c.     For
purposes of this Section 5, "Cause" means (i) your repeated and willful failure to perform one or more of your essential duties and responsibilities to
the Company in a satisfactory manner; (ii) your repeated and willful failure to follow the lawful and reasonable directives of the Company; (iii) your material violation of any written
policy of the Company; (iv) your commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably expected to result in material injury
to the Company; (v) your unauthorized use or disclosure of any proprietary information or trade secrets of the Company; or (vi) your willful breach of any of your obligations under any
written agreement or covenant with the Company. Notwithstanding the foregoing, in the event that there is a separate written employment agreement between you and the Company that contains a different
definition of "Cause", that definition shall apply for purposes of this Agreement in lieu and instead of the foregoing definition. 

        d.     As
a condition to your receipt of such Retention Payment, upon termination of your employment, you are required (i) to comply with your continuing obligations to
the Company (including the return of any Company property and compliance with any non-competition and confidentiality agreement), and (ii) to resign from all positions you hold with
the Company, and (iii) to execute a release agreement releasing any and all claims you may have against the Company. 

        e.     The
Retention Payment provided for by this Agreement is not intended to be subject to Section 409A of the Internal Revenue Code. 

        f.      The
provisions of this Section 5 related to the Retention Payment shall terminate December 31, 2012. After the end of the term of this Section 5,
this Section 5 shall have no further force and effect of any kind whatsoever and no Retention Payment of any kind shall be thereafter payable hereunder, except solely for any payment that has
accrued and become payable prior to such date. Other severance agreements, if any, may then be in effect following termination of this Section. 

        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	
 	
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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 Committee
	
 ACCEPTED AND AGREED:	
 	

 	
 	

 
	
 /s/ Michael E. McGrath	
 	

 	
 	

 
	

  Michael E. McGrath

March 24, 2011	 	 	 	 

 

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Exhibit 10.14

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