Thompson was announced as the new boss in the summer of 2006 after Gudjon Thordarson was relieved of his duties in the aftermath of a disastrous campaign that saw the Magpies come perilously close to dropping out of the Football League.
However, his appointment was against many of the fans' wishes, with Thompson remembered for his time with the club in the 90's when he aided Colin Murphy during a poor spell for the Magpies.
The Supporters Trust - now the clubs majority shareholder, spoke out against the appointment before changing their minds and sponsoring the former Lincoln City boss.
The club was expected to challenge for promotion this season.
But despite some excellent signings that hasn't materialised and Thompson has paid the price, leaving Meadow Lane with an overall record of:
PLAYED: 65 WON: 21 LOST: 25 DREW: 19 FOR: 73 AGAINST: 80
Here his tenure in full can be reviewed, month by month:
Monday 12th - Thompson unveiled as Thordarson's successor
Thompson's first task to assemble a squad starts taking place with Jason lee, Lawrie Dudfield, Alan White, Gary Silk, Austin McCann, Stephen Hunt, Andy Parkinson, Tcham N'Toya and Junior Mendes signing in his first month.
White is named captain while John Gannon is named as his assistant but Steve Guinan turns the Magpies down.
Lewis McMahon, Steve Scoffham and Chris Palmer are released.
Tom Curtis is recruited but Matt Carbon decides against moving to Meadow Lane.
A surprise addition sees the return of former trainee Saul Deeney, signed to bring competition to Kevin Pilkington for the number one spot.
Ian Ross is the final addition on a six-month loan while Stef Frost agrees a first ever professional contract.
The new campaign begins with a 1-1 draw at Lincoln City as the Supporters Trust become the majority shareholder's at the club.
The first starting eleven picked by Thompson at Sincil Bank is: Pilkington, Silk, White, Edwards, McCann, Pipe, Somner, Ross, Parkinson, Dudfield, Lee.
Lincoln City, away. 1-1 Jeff Hughes, OG
Shrewsbury, home. 1-1 Edwards
Wycombe, home. 1-0 Mendes
Rochdale, away. 1-0 White
CC: Crystal Palace, away. 2-1 Dudfield, Martin
Peterborough, home. 0-0
P:6 W:3 D:3 L:0 F:6 A:3
Thompson was charged by the Football Association following his dismissal from the dugout in the match with MK Dons. He was given a two-game touchline ban and fined £300.
MK Dons, away. 2-3 Lee, Martin
Accrington, home. 3-2 Edwards, Martin (2)
Chester, away. 0-0
Barnet, away. 3-2 White, Parkinson, Lee
CC: Middlesbrough, away. 1-0 N'Toya
Swindon, home. 1-1 White
Stockport, home. 1-0 Mendes
Torquay, away. 1-0 Dudfield
P:8 W:5 D:2 L:1 F:12 A:8
Nominated for Manager of the Month for September but lost out to Hartlepool United's Danny Wilson.
Tom Curtis breaks his foot before making a first team start.
Notts drew Leyton Orient in the first round of the FA Cup with the tie to be played at Brisbane Road in November.
Mansfield, away. 2-2 Edwards, Dudfield
Bristol Rovers, home. 1-2 Mendes
JPT: Barnet, home. 0-1
Grimsby, away. 2-0 Mendes, Lee
CC: Southampton, home. 2-0 Edwards, Lee
Bury, home. 0-1
P:6 W:2 D:1 L:3 F:7 A:6
Jay Smith and Daryl McMahon joined on loan from Southend United and Leyton Orient respectively but Notts bowed out of the FA Cup straight away to Orient and finally exited the Carling Cup after a great run to fellow League Two side Wycombe on a disappointing Meadow Lane night.
ITV's the Championship filmed Jason Lee as part of a feature for their programme.
Boston, away. 3-3 Lee (2), White
CC: Wycombe, home. 0-1
FA: Leyton Orient, away. 1-2 Dudfield
Wrexham, home. 2-1 Parkinson, Lee
Walsall, away. 1-2 Ross
P:5 W:1 D:1 L:3 F:7 A:9
McMahon and Smith extend their loan deals but Thompson starts to come under pressure for the first time as Notts stumble and drop out of the playoffs and into mid-table.
Curtis joined Nuneaton Borough on loan with no league starts still for Notts.
Hartlepool, home. 0-1
Macclesfield, home. 1-2 Martin
Darlington, away. 1-0 White
Hereford, home. 0-1
Stockport, away. 0-2
Swindon, away. 1-1 Dudfield
P:6 W:1 D:1 L:4 F:3 A:7
Matt Austin and Stef Frost join Gainsborough Trinity on loan while another youngster, Tommy Hannigan, is released.
Ross agrees to stay until the end of the season on loan from Sheffield United but McMahon returned to Orient. Better news saw Smith sign a permanent contract until the end of next season.
Thompson was sent from the stands at Accrington after blowing his top over a challenge made by Stanley's Alan Rogers on Notts winger David Pipe.
The Notts boss also admits he is looking to bring in a striker on loan - of the right man becomes available.
Chester, home. 1-2 Lee
Accrington, away. 2-1 Dudfield, Lee
Torquay, home. 5-2 Mendes, Smith, Parkinson, Lee (2)
Hereford, away. 2-3 Lee (2)
Barnet, home. 1-1 Dudfield (pen)
P:5 W:2 D:1 L:2 F:11 A:9
Curtis leaves the club after it was mutually agreed to terminate his contract without a league start being made.
Thompson does extend the contracts of in-form duo Dudfield and Hunt.
Lincoln, home. 3-1 Smith, Lee, Dudfield
Wycombe, away. 0-0
Rochdale, home. 1-2 Lee
Shrewsbury, away. 0-2
MK Dons, home. 2-2 Smith (pen), Hunt
P:5 W:1 D:2 L:2 F:6 A:7
Myles Weston, James Walker and Michael Byron all join on loan but after a bust up with Mendes, the latter leaves joining Lincoln on loan.
Dan Gleeson is allowed to join Cambridge United on loan and White exits on loan too, joining Peterborough United after an altercation with fans in Notts' defeat to Bristol Rovers.
Lee is named as the new captain.
Peterborough, away. 0-2
Mansfield, home. 0-0
Bristol Rovers, away. 0-2
Bury, away. 1-0 N'Toya
Grimsby, home. 2-0 Tom Newey OG, Smith
P:5 W:2 D:1 L:2 F:3 A:4
Former Notts great Bill Brindley died.
Walsall win the League Two title at Meadow Lane meaning Notts now are unlikely to reach a playoff place.
Lee is named as the Junior Magpie Player of the Year.
Boston, home. 2-0 Lee, Somner
Wrexham, away. 1-0 Simon Spender OG
Walsall, home. 1-2 Dudfield
Hartlepool, away. 1-1 Parkinson
Darlington, home. 0-1
P:5 W:2 D:1 L:2 F:5 A:4
Notts finish the season in thirteenth place in League Two, nine points from the playoffs.
Mike Edwards scoops the Supporters' Player of the Year trophy.
Thompson and Gannon agree one year contract extension tying them down to another three years.
White, N'Toya, Gleeson, Deeney, Martin, Bobby Wilson and Sheridan are all released from the club but Martin is told the door is open for a return if he proves his fitness and doesn't find another club in the summer.
Dudfield's early season strike at Crystal Palace is named as Notts' best goal of the season.
Neil MacKenzie arrives as the first summer signing on a free after his release by Scunthorpe United and Austin twins Matt and Rob are handed professional deals.
Paul Mayo, Hector Sam, Tim Sandercombe and Adam Tann are all signed up as Thompson wastes no time getting his squad together.
Macclesfield, away. 1-1 Parkinson
P:1 W:0 D:1 L:0 F:1 A:1
Spencer Weir-Daley signs despite interest from elsewhere, likewise Richard Butcher and Myles Weston.
David Pipe is allowed to join Bristol Rovers for a fee believed to be £50,000.
Edwards picks up a horror injury in a pre-season game at St Blazey ruling him out until the New Year.
Lee Canoville is brought in to bolster defence.
Notts lose an action packed friendly with rivals Nottingham Forest 2-1 at Meadow Lane but the game is marred by a pitch invasion at full-time that saw rival fans square up to each other and several arrests.
Notts start with this team in a 1-1 draw at Grimsby in the 4-3-3 formation Thompson ended with last season: Pilkington, Silk, Hunt, Canoville, Mayo, MacKenzie, Somner, Butcher, Dudfield, Lee, Parkinson.
Paul Beasley is named on Thompson's staff but Mendes has his contract terminated.
Butcher is named as a nomination for the League Two player of the month but misses out.
Grimsby, away. 1-1 MacKenzie
CC: Coventry, away. 0-3
Brentford, home. 1-1 Butcher
Darlington, away. 2-2 Butcher (2)
P:4 W:0 D:3 L:1 F:4 A:7
Chair or the Trust Keri Usherwood stepped down as did chairman Jeff Moore and technical director Howard Wilkinson with John Armstrong-Holmes made new chairman and Notts unveiling Moore's visionary 2012 blueprint that would see Championship football in five seasons armed with £5 million to do so.
Sandercombe agrees a one year contract extension and Byron rejoins on a contract until the end of the season.
After a 1-1 draw at Rotherham Thompson confronts fans who hold up a 'Thommo Out' banner as the pressure on him intensifies after a poor start.
Morecambe, home. 1-1 Butcher
JPT: Leyton Orient, home. 0-1
MK Dons, away. 0-3
Dagenham, home. 1-0 MacKenzie
Rotherham, away. 1-1 Weir-Daley
Chesterfield, home. 1-0 Hunt
P:6 W:2 D:2 L:2 F:4 A:6
Proves to be Thompson's final month as Notts boss as the Magpies go on a dreadful run of form and the fans all seem to turn on the boss as more banners are seen and fans chant 'we want Thommo out' at home to Bury.
Danny Crow signs on a month's loan from Peterborough but is injured an hour into his debut leaving his future uncertain.
Gannon takes charge when Thompson is officially sacked on October 16.
Hereford, home. 2-3 Silk, Sam
Wycombe, away. 3-1 Butcher
Bury, home. 1-3 MacKenzie (pen)
P:3 W:0 D:0 L:3 F:4 A:9