Mix thyme, garlic, salt and pepper in a small bowl. Pat both sides of the chicken breasts with the spice mixture and drizzle with 1 Tbls. of olive oil. Can marinate all day in the refrigerator if desired.

Heat a large skillet with olive oil and butter, over medium heat. Add the chicken, cook about 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 to chicken over and cook for another 3 minutes (or until chicken is cooked through). Serve chicken drizzled with glaze.