Mix thyme, salt and pepper in a small bowl. Pat both sides of the chicken breasts with the spice mixture. Heat a large skillet with the olive oil over medium heat. Add the chicken, cook for 2 to 3 minutes (or until browned). Turn and cook the other side until browned. Transfer to a plate and cover with foil.
Add water, vinegar, and honey to the skillet. Bring to a boil, stirring constantly. Boil for 2 minutes or until slightly syrupy and reduced by half. Add the butter and stir until melted. Reduce the heat to medium-low and return the chicken to the pan. Cook for about 3 minutes in the glaze, then turn the chicken over and cook for an additional 3 minutes (or until chicken is cooked through). Serve drizzled with glaze.
Notes
If you'd like to serve this over spinach (as the photo shows), place one bag of spinach in a large skillet and sprinkle a few sprinkles of water on top. Place the lid on top and cook over medium-heat until spinach is wilted. It doesn't really need any (or little) seasoning since the chicken will be served on top with the sauce drizzled over all.