Document:

<PAGE>

                                                               EXHIBIT 10(iii)47

                                   EXHIBIT A

                              THE IT GROUP, INC.
                                PROMISSORY NOTE

================================================================================

[Amount of Loan]                                                Monroeville, PA

Capitalized terms used but not otherwise defined in this Promissory Note that
are defined in the Program (as defined below) shall have the meanings specified
in the Program.

FOR VALUE RECEIVED, the undersigned ("Borrower") hereby promises to pay to THE
IT GROUP, INC. (the "Company") the principal amount of ($___________), together
with interest (compounded semiannually) from the date hereof on the unpaid
balance of such principal amount at the rate set forth in Section 1 hereof on
______________ (the "Maturity Date"), less any amount of principal or interest
which has been paid by Borrower or forgiven by the Company in accordance with
Section 5 herein.

PROVIDED that such Maturity Date may be extended or accelerated pursuant to
Article 7 of the IT Group, Inc. Executive Stock Ownership Program (the
"Program") and as summarized in Sections 4 and 6 herein.  Payment of the
principal amount of this Promissory Note and interest thereon shall be made at
the office of the Company in Monroeville, Pennsylvania or at such other location
in the United States of America as shall be designated by the Company in writing
to Borrower.  Such payment shall be made in such coin or currency of the United
States of America as at the time of payment is legal tender for payment of
public and private debts.

This Promissory Note is being issued pursuant to the Program, for the purpose of
financing the purchase of certain shares of securities of the Company (the
"Purchased Shares") being acquired by Borrower in accordance with the Ownership
Guidelines as defined under the Program. Capitalized terms used but not
otherwise defined in this Promissory Note that are defined in the Program shall
have the meanings specified in the Program.

     1.   INTEREST. Interest shall accrue on the unpaid principal balance of
          --------
this Promissory Note at the applicable federal rate of six and sixty-ninth
percent (6.69%) per annum, compounded semiannually.  Such interest shall be
payable only on the Maturity Date or upon acceleration of this Promissory Note
pursuant to Section 4 or 6 hereof

     2.   FULL RECOURSE. This Promissory Note shall be the personal obligation
          -------------
of Borrower and the Company shall be entitled to full recourse against Borrower
for performance and satisfaction of all obligations of Borrower hereunder.

     3.   COVENANTS OF BORROWER. Upon receipt of the proceeds of this Promissory
          ---------------------
Note, Borrower shall apply all such proceeds towards the purchase of the
Purchased Shares.
<PAGE>

                                   EXHIBIT A

                              THE IT GROUP, INC.
                                PROMISSORY NOTE

================================================================================

     4.   VOLUNTARY PREPAYMENTS. Borrower may, at his option, prepay at any time
          ---------------------
all or any portion of the principal amount of this Promissory Note then
outstanding, together with any and all accrued interest thereon through the date
of such prepayment, without premium or penalty.

     5.   LOAN FORGIVENESS.
          ----------------

          5.1  Upon each March 24th, beginning _____________and ending
on________________, if Borrower is an employee of good standing with the Company
on each such date, the principal amount under this Promissory Note shall be
reduced by twenty-five percent (25%) and the entire amount of accrued interest
as of each ____________ shall be treated as forgiven by the Company. The Company
shall reimburse Borrower for any individual federal, state, and local tax
liability incurred by the Borrower as a result of the characterization of the
forgiveness of the principal and interest and tax reimbursement as compensation
required to be reported on Form W-2. To the extent practicable, this gross up
calculation is intended to cover the taxes on the forgiveness of any principal
and interest and the tax reimbursement.

          5.2  Notwithstanding the foregoing, the forgiveness of the principal
and accrued interest under this Promissory Note shall be subject to the
following events:

               (a)  Termination of Employment of Borrower. In the event
                    -------------------------------------
Borrower's employment is terminated for Cause prior to the Maturity Date,
Borrower shall cease to be eligible to receive any forgiveness of principal and
accrued interest and tax reimbursements provided in Section 5.1 other than such
forgiveness previously credited under this Promissory Note and tax
reimbursements received before the Termination Date. In the event Borrower
terminates his or her employment with the Company and all affiliates voluntarily
(other than due to retirement, death or Permanent Disability) prior to the
Maturity Date, Borrower shall cease to be eligible to receive any forgiveness of
principal and accrued interest and tax reimbursements provided in Section 5.1
other than such forgiveness previously credited under this Promissory Note and
tax reimbursements received before the Termination Date. Subject to Section
6.2(d), in the event Borrower's employment is terminated involuntarily (other
than for Cause, retirement, death or disability) by the Company or an affiliate
prior to the Maturity Date, Borrower shall receive any forgiveness of principal
and accrued interest [and tax reimbursements] which would have occurred within
the six (6) months following the Termination Date had the Borrower remained an
employee of the Company during such six month period.

               (b)  Retirement of Borrower. In the event Borrower's employment
                    ----------------------
terminates on or after his or her Retirement Date prior to the Maturity Date,
for purposes of Section 1.6.1, the full remaining balance of the Promissory Note
including any accrued interest shall be fully forgiven notwithstanding such
termination of employment. Borrower shall be entitled to receive, upon such
retirement, all applicable tax reimbursements provided under Section 1.6.1.
<PAGE>

                                   EXHIBIT A

                              THE IT GROUP, INC.
                                PROMISSORY NOTE

================================================================================

               (c)  Death or Disability of Borrower. In the event Borrower dies
                    -------------------------------
or becomes Permanently Disabled prior to the Maturity Date, for purposes of
Section 1.6.1, the full remaining balance of the Promissory Note including any
accrued interest shall be fully forgiven notwithstanding such death or
disability. Borrower or, if applicable, Borrower's estate, shall be entitled to
receive, upon such death or disability, all applicable tax reimbursements
provided under Section 1.6.1.

               (d)  Change of Control. In the event an involuntary termination
                    -----------------
of employment, other than for Cause, occurs within 24 months of a Change of
Control and prior to the Maturity Date, for purposes of Section 1.6.1, the full
remaining balance of the Promissory Note including any accrued interest shall be
fully forgiven notwithstanding such termination of employment. Borrower shall be
entitled to receive, upon such termination of employment, all applicable tax
reimbursements provided under Section 1.6.1.

     6.   ACCELERATION OF MATURITY DATE.
          -----------------------------

          6.1  The principal amount of this Promissory Note shall be due on the
Maturity Date unless maturity of this Promissory Note is accelerated in
accordance with Section 6.2 or Section 4 herein.

          6.2  In the event Borrower's employment is terminated for Cause prior
to the Maturity Date, any outstanding interest and principal under the
Promissory Note and not forgiven pursuant to Section 5 hereof shall become
immediately due and payable on the Termination Date. In the event Borrower
terminates his or her employment with the Company and all affiliates voluntarily
(other than due to retirement, death or Permanent Disability) prior to the
Maturity Date, any outstanding interest and principal under the Promissory Note
and not forgiven pursuant to Section 5 hereof shall become immediately due and
payable on the Termination Date. In the event Borrower's employment is
terminated involuntarily (other than for Cause, retirement, death or disability)
by the Company or an affiliate prior to the Maturity Date, any outstanding
interest and principal under the Promissory Note and not forgiven pursuant to
Section 5 hereof shall become due and payable on the Termination Date.

     7.   NOTICES. All notices and other communications required or permitted to
          -------
be given under this Promissory Note shall be in writing and shall be deemed to
have been duly given if delivered personally or by inter-office mail as follows,
if to the Company, Corporate Secretary, The IT Group, Inc., 2790 Mosside
Boulevard, Monroeville, PA 15146-2792; if to Borrower, at the address set forth
at the end of this Promissory Note, or to such other address as either party
shall have last designated by notice to the other party. All such notices and
communications shall be deemed to have been received on the earlier of the date
of receipt and the third business day after the date of mailing thereof.
<PAGE>

                                   EXHIBIT A

                              THE IT GROUP, INC.
                                PROMISSORY NOTE

================================================================================

     8.   AMENDMENTS. No amendment of this Promissory Note shall be effective
          ----------
unless in writing and signed by Borrower and the Company.

     9.   WAIVER. Borrower, for himself and his legal representatives and
          ------
successors, hereby expressly waives presentment, demand, notice, protest, and
all other demands or notices in connection with the delivery, acceptance,
endorsement, performance, default, or enforcement of this Promissory Note.

     10.  NO SET-OFF. This Promissory Note is not subject to set-off for any
          ----------
amounts for any reason other than as provided under Section 5 herein.

     11.  EFFECT OF DELAY OR OMISSION. No delay or omission of the Company in
          ---------------------------
exercising any right or remedy hereunder shall constitute a waiver of any such
right or remedy.

     12.  COSTS OF COLLECTION. Borrower will pay all costs and expenses of
          -------------------
collection, including reasonable attorneys' fees, incurred or paid by the
Company in enforcing this Promissory Note or its rights under the Pledge
Agreement or the obligations hereby or thereby evidenced, to the extent
permitted by law.

     13.  GOVERNING LAW. This Promissory Note, shall be governed by and
          -------------
construed and enforced in accordance and with the laws of the State of Delaware,
without regard to the application of the conflicts of law provisions thereof.

     14.  HEADINGS. The section and paragraph headings hereof are for
          --------
convenience of reference only and shall not be deemed to construe or affect the
meaning of any of the provisions hereof.

IN WITNESS WHEREOF, Borrower has executed this Promissory Note as of the date
first above written.

THE IT GROUP, INC.                         BORROWER

By: _______________________________

Title: ____________________________        _____________________________________
                                           Street Address

                                           _____________________________________
                                           City, State and Zip Code

                                           Social Security #____________________<PAGE>

                                                               EXHIBIT 10(iii)48

                              THE IT GROUP, INC.
                     RESTRICTED STOCK AND ESCROW AGREEMENT
                  STOCK OPTION INCENTIVE COMPENSATION PROGRAM

         This RESTRICTED STOCK AND ESCROW AGREEMENT (This "Agreement") is
entered into as of January 1, 2000 by and between a Delaware corporation (the
"Company"), and ____________________ ("Employee").

                                   RECITALS

         WHEREAS, the Company has adopted the 1996 Stock Incentive Plan (the
"Plan") under which eligible employees may be issued an award (the "Restricted
Stock Award") to purchase restricted shares of Common Stock, $.01 par value, of
the Company (the "Common Stock") on the terms and conditions set forth herein;
and

         WHEREAS, the Compensation Committee of the Board of Directors, has
determined that its interests will be advanced by the issuance to the Employee
of a restricted stock award which is not issued under any plan but which for all
purposes of interpretation and administration shall be treated as if granted
under the Plan; and

         WHEREAS, these awards were not granted under any plan but for all
purposes of interpretation and administration shall be treated as if granted
under the Plan, and capitalized terms used and not otherwise defined herein
shall have the meanings ascribed to them in the Plan (as such term is
hereinafter defined).

         NOW THEREFORE, by executing this Restricted Stock and Escrow Agreement
and for and in consideration of these premises, Employee agrees that this
Agreement shall be treated, interpreted and administered as if granted under the
Plan, that all terms not defined in this Agreement shall have the meaning
provided for under the Plan and, Employee further agrees as follows:

                                   AGREEMENT

         NOW, THEREFORE, in consideration of the foregoing and of the mutual
covenants set forth herein and other good and valuable consideration, the
receipt of which is hereby acknowledged, the parties hereto hereby agree as
follows:

         1.  Grant Restricted Stock
             ----------------------
             The Company hereby grants to Employee, and Employee hereby acquires
             from the Company _________ shares of restricted Common Stock (the
             "Shares").
<PAGE>

         2.  Deposit of Certificate
             ----------------------
             Concurrently with the execution hereof, Employee consents to the
             delivery to the Company, to be held in escrow by the Company, of
             the certificate or certificates evidencing the Shares and agrees to
             execute and deliver to the Company undated stock powers and other
             instruments of transfer duly executed in favor of the Company by
             Employee. Employee acknowledges that the certificates evidencing
             the Shares may have affixed a legend including in the form of
             Exhibit A hereto.

         3.  Vesting
             -------
             Subject to earlier vesting pursuant to Paragraph 4(c) or Paragraph
             11 hereof, the Shares shall be subject to the restrictions set
             forth in Paragraph 4 hereof until the Shares fully vest.
             Twenty-five (25%) percent of the Shares awarded shall vest and the
             restrictions thereon shall terminate January 1 each year through
             ____, commencing January 1, ______.

             The period during which some or all of the Shares are subject to
             such restrictions is referred to as the "Restricted Term."

         4.  Restrictions on Transfer; Repurchase of Restricted Stock
             --------------------------------------------------------
             (a)    During the Restricted Term, the Shares may not be sold,
                    assigned, transferred, hypothecated or otherwise disposed of
                    or encumbered, other than by will or by the laws of descent
                    and distribution, and are subject to forfeiture to the
                    Company as set forth herein.

             (b)    In the event of the termination of the employment of
                    Employee with the Company or any subsidiary of the Company
                    for any reason other than those contemplated by Paragraph
                    4(c), unless the Restricted Term has expired prior to such
                    termination of employment, the Shares shall be forfeited to
                    the Company for consideration and Employee shall
                    automatically cease to have any rights in and to the Shares.

             (c)    If Employee (i) ceases to be an employee of the Company due
                    to his retirement in accordance with the Company's then
                    applicable retirement policy and practices or (ii) shall
                    have a Permanent Disability or die while an employee of the
                    Company, the conditions imposed on the Shares related to
                    continuous employment of the Employee set forth in Paragraph
                    3 shall be deemed to have been satisfied. Any unvested
                    Shares shall thereafter vest and the restrictions thereon
                    shall terminate. "Permanent Disability" shall mean the
                    inability in engage in any substantial gainful activity by
                    reason of any medically determinable physical or mental
                    impairment which can be expected to result in death or which
                    has lasted or can be expected to last for a continuous
                    period of not less than twelve (12) months. Employee shall
                    not be deemed to have a Permanent Disability until proof of
                    the existence thereof shall have been furnished to the
                    Committee (as such term is defined in Paragraph 7
                    hereinafter) in such
<PAGE>

                    form and manner, and at such times, as the Committee may
                    require. Any determination by the Committee that Employee
                    does or does not have a Permanent Disability shall be final
                    and binding upon the Company and Employee.

         5.  Voting and Other Rights
             -----------------------
             During the Restricted Term, Employee shall, except as otherwise
             provided herein, have all the rights of a stockholder with respect
             to all of the Shares, including, without limitation, the right to
             vote such Shares and the right to receive all dividends or other
             distributions, if any, with respect to such Shares.

         6.  Delivery of Certificates
             ------------------------
             Upon the termination of the Restricted Term, the Company shall
             deliver to Employee all stock certificates and related instruments
             of transfer evidencing the Shares vested pursuant to Paragraph 3
             and all restrictions set forth in Paragraph 4 hereof with respect
             to such Shares shall terminate.

         7.  Administration
             --------------
             This Agreement and the Shares shall be administered by the
             Compensation Committee of the Board of Directors of the Company
             (the "Committee"). Subject to the provisions of the Plan, the
             Committee shall be authorized and empowered to do all things
             necessary or desirable in connection with the administration of
             this Agreement, including, without limitation, the following:

             (i)    adopt, amend and rescind rules and regulations relating to
                    the Agreement;
             (ii)   determine whether, and the extent to which, adjustments are
                    required pursuant to Paragraph 9 hereof; and
             (iii)  interpret and construe the Agreement.

         8.  Effect on Participant's Continued Employment
             --------------------------------------------
             Employee's right, if any, to continue to serve the Company and its
             subsidiaries as an officer or employee shall not be enlarged or
             otherwise affected by the Restricted Stock Award, nor shall such
             grant in any way restrict the right of the Company or any of its
             subsidiaries to terminate Employee's employment at any time.

         9.  Adjustments in Stock
             --------------------
             If the outstanding securities of the class then subject to this
             Agreement are increased, decreased or exchanged for or converted
             into cash, property or a different number or kind of securities, or
             if cash, property or securities are distributed in respect of such
             outstanding securities, in either case as a result of a
             reorganization, merger, consolidation, recapitalization,
             restructuring, reclassification, dividend (other than a regular,
             quarterly cash dividend) or other distribution, stock split,
             reverse stock split, spin-off or the like, subject to other
             provisions of the Agreement, or if substantially all of the
             property and assets of the Company are sold, then, unless the terms
             of such transaction shall provide
<PAGE>

             otherwise, the Committee shall make appropriate and proportionate
             adjustments to the Shares.

         10. Payment of Withholding Taxes
             ----------------------------
             If the Company becomes obligated to withhold an amount (the
             "Withholding Amount") on account of any federal, state or local tax
             imposed as a result of the grant of the Shares to Employee pursuant
             to this Agreement or the expiration of the Restricted Term,
             including, without limitation, any federal, state or other income
             tax, or any F.I.C.A., state disability insurance tax or other
             employment tax, then, (a) if employee is not subject to the
             reporting requirements of Section 16 of the Securities Exchange Act
             of 1934 (the "Exchange Act"), then at the election of Employee,
             Employee shall either (i) deliver to the Company Shares necessary
             to equal the Withholding Amount when valued at the closing market
             price on the New York Stock Exchange ("NYSE) on the trading day
             preceding the withholding date (or if the Shares are not listed on
             NYSE, the closing market price on a national securities exchange on
             which Common Stock of the Company is listed on the trading day
             preceding the withholding date) rather than at the Formula Price,
             or (ii) pay the Withholding Amount to the Company in cash or by
             cashier's or certified bank check payable to the Company. If
             Employee is required to file reports pursuant to Section 16(a) of
             the Exchange Act and the rules and regulations promulgated
             thereunder, then the Withholding Amount shall be required to be
             satisfied by the method set forth in clause (i) of this Paragraph
             10, and the use of such method shall be deemed to have been
             approved by the Committee without any specific action or election
             by Employee.

         11. Change of Control and Other Terminating Events
             ----------------------------------------------

             (a)    All restrictions upon the Shares hereunder shall terminate
                    immediately prior to a Change of Control (as hereinafter
                    defined), provided that no such termination shall occur (i)
                    in the case of Change of Control of the type described in
                    Paragraphs 11(b)(ii) or 11(b)(iii) below, if a two-thirds
                    majority of the Company's Board of Directors affirmatively
                    recommends such Change of Control to the Company's
                    stockholders, or (ii) in the case of Change in Control of
                    the type described in Paragraph 11(b)(i) or 11(b)(v) below,
                    if a two-thirds majority of the Company's Board of Directors
                    approves such Change in Control.

             (b)    "Change in Control" shall mean the first to occur of the
                    following events:

                    (i)    the Directors of the Company who were nominated by
                           the Board of Directors for election as Directors
                           cease to constitute a majority of the Directors of
                           the Company;
                    (ii)   a reorganization, merger or consolidation of the
                           Company, the consummation of which results in the
                           outstanding securities of any class then subject to
                           this Agreement being exchanged for or
<PAGE>

                           converted into cash, property or securities not
                           issued by the Company;
                    (iii)  the acquisition of substantially all of the property
                           and assets of the Company by any person or entity;
                    (iv)   the dissolution or liquidation of the Company; or
                    (v)    the first public announcement that any person
                           or entity, together with all Affiliates and
                           Associates (as such terms are defined in Rule 12b-2
                           promulgated under the Exchange Act) of such person or
                           entity, shall have become the Beneficial Owner (as
                           defined in Rule 13d-3 promulgated under the Exchange
                           Act) of voting securities of the Company representing
                           35% or more of the voting power of the Company;
                           provided, however, that the terms "person" and
                           "entity," as used in this subsection (v), shall not
                           include (x) the Company, any of its subsidiaries, or
                           The Carlyle Group or its affiliates, (y) any employee
                           benefit plan of the Company or any of its
                           subsidiaries or (z) any entity holding voting
                           securities of the Company for or pursuant to the
                           terms of any such plan.

         12. Notice
             ------
             Any notice to be given to the Company shall be addressed to the
             Company in care of its Secretary at its principal office, or such
             other address as the Company may hereinafter designate in writing
             to Employee, and any notice to be given to the Employee shall be
             addressed to him or her at the address given beneath his or her
             signature hereto, or at such other address as Employee may
             hereafter designate in writing to the Company. Any such notice
             shall have been duly given when enclosed as aforesaid, registered
             or certified, and deposited, postage and registration or
             certification fee prepaid, in a post office or branch post office
             regularly maintained by the United States Government.

         13. Authority
             ---------
             This Agreement and the Shares are subject to all of the terms and
             conditions of the Plan as the same shall be amended from time to
             time in accordance with the terms thereof, but no such amendment
             shall adversely affect the Employee's rights under this Agreement.
<PAGE>

         14. Laws Applicable to Construction
             -------------------------------
             This Agreement has been executed and delivered the day and year
             first above written at Pittsburgh, Pennsylvania, and this Agreement
             shall be construed and enforced in accordance with the laws of the
             State of Delaware.

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its
duly authorized representative, and the Employee has hereunto set his or her
hand on the day and year first above written.

THE IT GROUP, INC.                          EMPLOYEE:

By:   ___________________________           ______________________________

Title:  _________________________           ______________________________
                                            C/O 2790 Mosside Blvd.
                                            Monroeville, PA 15146
                                            Social Security No. ###-##-####

                                            The undersigned spouse of the
                                            Employee hereby consents to the
                                            terms and provisions of this
                                            Restricted Stock Agreement as of
                                            the day and year first above
                                            written.

                                            ______________________________
                                            (Spouse)
<PAGE>

                                   EXHIBIT A

          The securities represented by this Certificate are subject to the
terms and provisions, including certain restrictions on transfer and
encumbrance, of that certain Restricted Stock and Escrow Agreement dated as of
__________________, by and between The IT Group, Inc., a Delaware corporation
(the "Company"), and the holder of the shares of common stock represented by
this Certificate, a copy of which is available for inspection at the executive
offices of the Company.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00021-of-00352.parquet"}]]