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                                                                   Exhibit 10.48


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                              ROADHOUSE GRILL, INC.

                           DEFERRED COMPENSATION PLAN














                                                          EFFECTIVE JUNE 3, 1997


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                             ROADHOUSE GRILL, INC.

                           DEFERRED COMPENSATION PLAN


                                TABLE OF CONTENTS
                                -----------------

<TABLE>
<CAPTION>
                                                                              PAGE
                                                                              ----
<S>                                                                           <C>
1.  Definitions ...........................................................    1

2.  Savings Deposits by Participants ......................................    3

3.  Company Credits to Participants .......................................    3

4.  Participants' Accounts; Life Insurance Contracts ......................    4

5.  Vesting ...............................................................    4

6.  Payments During Life ..................................................    5

7.  Payment on Death; Beneficiary .........................................    5

8.  Limitation on Nondeductible Payment ...................................    6

9.  Intended Tax Consequences .............................................    6

10. Intended ERISA Consequences ...........................................    7

11. Funding ...............................................................    7

12. Participant's Rights Unsecured ........................................    7

13. Administration ........................................................    8

14. Claims Procedure ......................................................    8

15. Amendment or Termination of Plan ......................................    9

16. Notice ................................................................    9

17. Employment Rights .....................................................    9

18. Independence of Benefits ..............................................    9

19. Assignability .........................................................   10

20. Governing Law; Binding Effect; Limitations Period; Venue ..............   10

21. Pronouns and Heading ..................................................   10


</TABLE>



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                              ROADHOUSE GRILL, INC.
                           DEFERRED COMPENSATION PLAN


         This Deferred Compensation Plan is adopted effective as of the 3rd of
June, 1997, by Roadhouse Grill, Inc., a Florida corporation (referred to herein
as the "Company").

                                   WITNESSETH:

         WHEREAS, the Company intends to provide certain executive and
management-level employees to be designated by the Board as participants in this
Plan with an opportunity to save for retirement on a tax-deferred basis; and

         WHEREAS, the Company desires to retain the valuable services of certain
executive and management-level employees and encourage such employees to
continue employment with the Company by making contributions to match the
tax-deferred savings elected by executive and certain management-level
employees; and

         WHEREAS, this Deferred Compensation Plan is intended to qualify as an
unfunded deferred compensation plan maintained primarily to provide deferred
compensation for eligible Participants, all of whom are members of a select
group of management or highly compensated employees of the Company for purposes
of the Employee Retirement Income Security Act of 1974, as amended.

         NOW, THEREFORE, the Company adopts this Deferred Compensation Plan:

1.       DEFINITIONS

(a)      BOARD means the Board of Directors of the Company.

(b)      CODE means the Internal Revenue Code of 1986, as amended.

(c)      COMPANY means Roadhouse Grill, Inc. and, as the context may dictate,
         the Employer of the Participant.

(d)      COMPENSATION means a Participant's total compensation paid to such
         Participant by the Company during the Plan Year for services rendered,
         including base salary, cash bonuses and any amounts contributed by the
         Participant on a salary reduction basis to any plan maintained by the
         Company under Internal Revenue Code Sections 401(k) or 125, but
         excluding non-cash items of compensation or income. Compensation does
         not include any such amounts paid to a Participant before the effective
         date that he became a Participant herein or after the effective date of
         the end of his participation herein.


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(e)      CONTROLLED GROUP means that group of entities consisting of (i) the
         Company, (ii) any corporation which is a member of a controlled group
         of corporations (as defined in Code Section 414(b)) that includes the
         Company and (iii) any trade or business (whether or not incorporated)
         that is under common control (as defined in Code Section 414(c)) with
         the Company.

(f)      EMPLOYEE means any person employed by any member of the Controlled
         Group.

(g)      EMPLOYER means the Company and any other member of the Controlled
         Group.

(h)      ERISA means the Employee Retirement Income Security Act of 1974, as
         amended.

(i)      PARTICIPANT means an Employee designated by the Board to participate in
         this plan, whose participation in the Plan has begun or resumed and has
         not yet ended.

(j)      PERMANENT DISABILITY shall have the same meaning hereunder as under the
         Employer's long-term disability plan. If the Participant is not covered
         by the Employer's long-term disability plan, the term Permanent
         Disability means a determination has been made by the Board that the
         Participant would be eligible for such benefits if the Participant were
         covered by the Employer's long-term disability plan. No other
         determination or definition of disability or disabled status shall
         govern for purposes of this Plan.

(k)      PLAN means this Roadhouse Grill, Inc., Deferred Compensation Plan, as
         set forth in this plan instrument and as it may be amended from time to
         time.

(l)      PLAN YEAR means the 12 month period commencing June 3, 1997, and ending
         June 2, 1998, and the 12-month periods commencing on each subsequent
         June 3 while the Plan remains in effect.

(m)      SAVINGS DEPOSITS ACCOUNT means the account referred to in Section 4(a)
         hereof.

(n)      TRIGGERING EVENT means the first to occur of termination of a
         Participant's employment for any reason other than death or a
         Participant attaining the later of age 65 or 10 years of service under
         the Plan. For this purpose, the term "years of service" means the
         number of complete 12-month periods beginning with the first date that
         the Participant performs service for the Employer that have elapsed
         during the period of the Participant's employment by the Employer.

(o)      VESTED PARTICIPANT means a Participant who is one hundred percent
         (100%) vested in all benefits hereunder, as defined in Section 5
         hereof. A "Non-Vested Participant" means a Participant who is not one
         hundred percent (100%) vested in all benefits hereunder, as defined in
         Section 5 hereof.

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2.       SAVINGS DEPOSITS BY PARTICIPANTS

(a)      SAVINGS DEPOSITS BY PARTICIPANTS. Each Participant may make savings
         deposits to the Plan in any amount of his compensation by agreeing to
         reduce his compensation by such amount. However, such amounts cannot
         exceed a ceiling established by the Board for each Participant prior to
         the beginning of each Plan Year and are referred to herein a as a
         Participant's "savings deposits".

(b)      SIGN-UP PROCEDURE FOR SAVINGS DEPOSITS. A Participant who wishes to
         make savings deposits must complete an enrollment form specifying the
         amount of his savings deposits, agreeing to reduce his compensation by
         such amount, and providing such other information (including a
         designation of beneficiary) as the Board may require. A Participant may
         elect to begin making savings deposits as of any enrollment date. The
         first of each month while the Plan is in effect is an enrollment date.

(c)      CHANGES IN SAVINGS DEPOSITS. Subject to the ceiling established by the
         Board for a Participant for any Plan Year, a participant making savings
         deposits may increase or reduce deposits to any higher or lower amount
         he elects, suspend savings deposits and resume such deposits at any
         amount by so specifying on a form filed with the Board. Any changes
         will become effective on the first Plan Year anniversary date after he
         files the completed form with the Board. Any changes in a Participant's
         savings deposits may affect benefits he receives under the Plan.

(d)      EFFECTIVENESS OF ELECTIONS. Any election by a participant to make
         savings deposits, increase, reduce, suspend or resume his savings
         deposits will be effective only with respect to compensation earned
         after the Participant files the appropriate form with the Board and
         will not be effective with respect to any compensation already earned
         by the Participant when he files such form with the Board.

3.       COMPANY CREDITS TO PARTICIPANTS

(a)      MATCHING COMPANY CREDITS. For each Plan Year, the Company will credit
         each Participant who makes savings deposits during such Plan Year with
         a matching contribution amount equal to at least 100% of each
         Participant's savings deposits made during such Plan Year; provided
         that the Company will provide matching contributions only on savings
         deposits up to a specified amount (the "matching ceiling") and will not
         match savings deposits above the matching ceiling. The matching ceiling
         will be a specified amount of each Participant's compensation. The
         matching ceiling for any Plan Year will be determined by the Board and
         communicated to Participants before the beginning of each Plan Year.

(b)      COMPANY CREDITS. Company matching credits for a Plan Year will be made
         no later than thirty (30) days after the end of each Plan Year.


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4.       PARTICIPANTS' ACCOUNTS; LIFE INSURANCE CONTRACTS

(a)      SAVINGS DEPOSITS ACCOUNTS. Savings deposits by a Participant and
         Company credits on a Participant's behalf will be credited to an
         account in the name of such Participant. Such account will be called
         his "Savings Deposits Account."

(b)      LIFE INSURANCE CONTRACT. The Company intends to purchase a life
         insurance contract on the life of each Participant in the amount that
         can be purchased with premiums equal to the credits to such
         Participant's Savings Deposits Account. The life insurance contract
         will be issued by an insurer selected by the Company in its discretion
         and will provide such accumulation values, cash surrender values, death
         benefits and other rights and features as the Company in its discretion
         determines. However, the Company will not be obligated to purchase a
         life insurance contract on the life of any Participant; if the Company
         determines not to purchase a life insurance contract on the life of a
         Participant, for purposes of determining the rights and benefits of
         such Participant hereunder, the Company will nevertheless designate a
         life insurance contract which could have been purchased with such
         Participant's Savings Deposits Account (a "Designated Contract"). Any
         such life insurance contract (whether purchased by the Company or
         designated by the Company) will be referred to herein as the
         "Participant's Contract". The Company will be the sole owner and
         beneficiary of each Participant's Contract and will possess and may
         exercise all incidents of ownership with respect to all such contracts.
         No Participant will have any interest in a Participant's Contract
         purchased by the Company prior to the distribution of such contract to
         the Participant (should this occur in accordance with Section 6
         hereof). In order to be a participant, an employee of the Company
         agrees to submit to medical examinations, supply such information and
         execute such documents as may be required by the insurance company in
         order for the Company to purchase any such policy.

(c)      RECORDS OF ACCOUNTS. The Board may itself maintain records of
         Participants' Savings Deposits Accounts or the Board may arrange for
         such records to be maintained by an outside service provider. If the
         Board arranges with a service provider to maintain records of
         Participants' accounts, the Board will provide such information as is
         necessary for the service provider to maintain such accounts as
         required herein. Any reference herein to any requirements that the
         Board keep certain records or accounts will be satisfied if the Board
         arranges for an outside service provider to keep such records or
         accounts.

5.       VESTING

         Each Participant is one hundred percent (100%) vested in that portion
         of his or her Savings Deposits Account attributable to the
         Participant's savings deposits. Each Employee designated as a
         Participant as of the effective date of the Plan also is one hundred
         percent (100%) vested in all benefits hereunder. Each Employee
         subsequently designated as Participants by the Company shall either be
         designated as one hundred percent (100%) vested in all benefits
         hereunder on (i) the date said Employee becomes a Participant


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         hereunder or (ii) the first to occur of (a) the date of such
         Participant's death or Permanent Disability if a Triggering Event shall
         not already have occurred for such Participant or (b) the date five (5)
         years after the date on which said Employee becomes a Participant
         hereunder except that vesting shall cease on the occurrence of a
         Triggering Event; provided, however, that in the event the Company is
         sold or merged with another entity, all Participants who are not one
         hundred percent (100%) vested on the date immediately preceding such
         event shall automatically become one hundred (100%) vested in all
         benefits hereunder.

6.       PAYMENTS DURING LIFE

(a)      With respect to a Vested Participant who experiences a Triggering
         Event, within one (1) year of such Triggering Event the Company shall
         have the option of either (i) distributing the Participant's Contract
         to such Participant or (ii) surrendering the Participant's Contract to
         the issuer and distributing to such Participant the cash surrender
         value of such contract, in either case (A) increased by the amount of
         the Company's expected federal and state income tax savings, if any,
         from obtaining an income tax deduction for the compensation paid to
         such Participant as a result of such distribution and (B) reduced by
         the amount of the Company's cumulative prior federal and state income
         taxes, if any, resulting from the income from the increase in the cash
         surrender value of such Contract plus the Company's expected federal
         and state income tax, if any, on the income or gain recognized from
         such surrender and/or distribution. If the Company does not own a life
         insurance contract on such Participant, within one (1) year of the
         Triggering Event the Company shall distribute to such Participant an
         amount in cash equal to the cash surrender value of the Designated
         Contract on the life of such Participant after taking into account the
         amount of the Company's expected federal and state income tax savings
         and payment, if any, from such distribution as described in (A) and (B)
         of the foregoing sentence. In no event shall a Vested Participant
         receive an amount less than such Participant's total savings deposits
         plus interest equal to five percent (5%) of the amount of such
         Participant's savings deposits, calculated annually.

(b)      With respect to Non-Vested Participant who experiences a Triggering
         Event, within one (1) year of the Triggering Event, the Company shall
         distribute to such Participant an amount equal to such Participant's
         total savings deposits plus interest equal to five percent (5%) of the
         amount of such Participant's savings deposits, calculated annually. Any
         funds in such Participant's Savings Deposits Account in excess of the
         funds required to be paid to such Participant under the foregoing
         sentence shall be retained by, or paid to, the Company.

7.       PAYMENT ON DEATH; BENEFICIARY

         Upon the death of a Participant prior to a Triggering Event, such
         Participant's designated beneficiary shall receive cash equal to the
         amount of the proceeds from the Participant's Contract within thirty
         (30) days of receipt thereof by the Company or cash equal to the




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<PAGE>   8

         death benefit of the Designated Contract on the life of such
         Participant within sixty (60) days of the death of such Participant.
         Any delay in payment by the insurer of proceeds due to the Company
         following the death of a Participant shall similarly delay the
         Company's obligation to make payment hereunder. Upon the death of a
         Participant after a Triggering Event, any amounts in excess of the
         funds required to be paid to the Participant under Section 6 shall be
         retained by, or paid to, the Company. The Participant may designate a
         beneficiary on a beneficiary designation form provided by the Board. If
         the Participant fails to name a beneficiary, the Participant's
         beneficiary shall be the Participant's surviving spouse, if any, or, if
         there is no surviving spouse, the beneficiary shall be the
         Participant's estate.

8.       LIMITATION ON NONDEDUCTIBLE PAYMENT

         Notwithstanding the foregoing provisions concerning payment to a
         Participant, if the Board reasonably determines that payment to a
         Participant of any portion of the benefit due to the Participant
         hereunder will not be deductible by the Company for income tax purposes
         because of the limit imposed by Code Section 162(m), payment of the
         excess amount may, in the Company's discretion, be deferred until the
         first date following termination of the Participant's employment on
         which the Board reasonably determines that payment of the excess amount
         will be deductible by the Company for income tax purposes. For purposes
         of this subsection, the term "excess amount" means the amount by which
         the limit on deductible payments under Code Section 162(m) would be
         exceeded by payment to the Participant of the benefit due under the
         Plan, after first taking into consideration taxable compensation
         payments to the Participant under all other agreements or arrangements
         with the Company or any member of the Controlled Group. The excess
         amount shall remain credited to the Participant's Savings Deposit
         Account and subject to all other terms and conditions of the Plan until
         paid to the Participant or Beneficiary.

9.       INTENDED TAX CONSEQUENCES

         It is the Company's intent that the Participant's savings deposits, the
         Company's matching credits and any increases thereto will not be
         subject to income taxes to the Participant until the Participant (or
         his or her beneficiary) receives any amount hereunder and will not be
         deductible by the Company until payment hereunder. The Participant's
         savings deposits will be subject to employment taxes, with respect to
         which the Employer shall report and withhold appropriately. However, if
         any portion of a Participant's Savings Deposits Account is found in a
         "determination" (within the meaning of Section 1313(a) of the Code) to
         have been includable in gross income by a Participant before payment of
         such amounts to the Participant under the Plan, such amounts shall be
         immediately paid to the Participant, notwithstanding any other
         provision of the Plan. The amount of any such payment shall reduce the
         Participant's Savings Deposits Account.


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10.      INTENDED ERISA CONSEQUENCES

         If it is determined, as defined below, that the Plan does not qualify
         as an unfunded deferred compensation plan maintained primarily to
         provide deferred compensation for eligible Participants, all of whom
         are members of a select group of management or highly compensated
         employees of the Employer for purposes of ERISA, then the Company may
         terminate the entire Plan or discontinue the participation of those
         Participants with respect to whom such determination is made. In that
         case, the Participant shall be paid all amounts then due him or her
         hereunder as of the Participant experienced a Triggering Event,
         calculated and paid as determined in Section 6 hereof, notwithstanding
         any other provision of the Plan. For purposes of this Section, the term
         "determined" means determined by the Board in its sole discretion or
         determined by a court of competent jurisdiction the decision of which
         cannot be appealed or with respect to which the appeal period has
         expired without any party filing a notice of appeal.

11.      FUNDING

         The Company shall not be obligated under any circumstances to fund its
         obligations under this Plan. The Company may elect to fund this Plan
         informally in whole or in part, and the manner of such informal funding
         shall be the exclusive decision of the Company. If the Company decides
         to informally fund this Plan by procuring life insurance for its own
         benefit on the life of any Participant, the form of such insurance and
         the amount shall be the exclusive decision of the Company. The Company
         may choose to create a trust for purposes of funding its obligations
         hereunder. In the event that the Company creates such a trust, to
         assets to be transferred to such trust shall be the exclusive decision
         of the Company. With respect to any assets that the Company chooses to
         transfer to such a trust, including a life insurance contracts on the
         life of a Participant, the obligation of the Company hereunder shall
         become the obligation of the trustee of such trust.

12.      PARTICIPANT'S RIGHTS UNSECURED

         Nothing contained herein shall be construed as providing for assets to
         be held in trust or escrow or any other form of asset segregation for a
         Participant or his designated beneficiary. The right of a Participant
         or his designated beneficiary to receive a distribution hereunder shall
         be an unsecured claim against the general assets of the Company, shall
         be no greater than the right of any unsecured general creditor of the
         Company, and neither the Participants nor their designated
         beneficiaries shall have any rights in or against any specific assets
         of the Company. Any insurance policy purchased on the life of a
         Participant to informally fund the Company's obligations hereunder
         shall constitute a general asset of the Company, whether owned by the
         Company or a trust created by the Company, and may be disposed of by
         such trust or the Company at such time and for such purposes as it may
         deem appropriate. Any rights hereunder may not be encumbered or
         assigned by a Participant or any Participant's beneficiary.


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13.      ADMINISTRATION

         This Plan shall be administered by the Board which shall have the
         authority to interpret this Plan and issue such regulations as it deems
         appropriate. The Board will designate those persons who will be
         Participants and will decide on the termination of a Participant's
         participation hereunder; provided, that no such action shall
         retroactively deprive a Participant of any amount credited to his
         Savings Deposits Account or any benefit he was entitled to under the
         Plan calculated as of the effective date of his termination of
         participation hereunder. The Board shall have the duty and
         responsibility of maintaining records, making the requisite
         calculations and disbursing the payments hereunder. The Board's
         interpretations, determinations, regulations and calculations shall be
         final and binding on all persons and parties concerned. The Board
         Administrator may delegate to an Employee or other person any of its
         duties under the Plan, provided that such delegation shall not relieve
         the Board of the responsibility for the performance of such duties.

14.      CLAIMS PROCEDURE

(a)      A Participant or beneficiary who believes that he or she is being
         denied a benefit to which he is entitled under the Plan (hereinafter
         referred to as a "Claimant") may file a written request for such
         benefit with the Board or its delegate (herein referred to as the
         "Claims Administrator") setting forth the claim. Upon receipt of a
         claim, the Claims Administrator shall advise the Claimant that a reply
         will be forthcoming within ninety (90) days and shall, in fact, deliver
         such reply within such period. The Claims Administrator may, however,
         extend the reply period for an additional ninety (90) days for
         reasonable cause. If the claim is denied in whole or in part, the
         Claims Administrator shall advise the Claimant in writing of its
         determination, using language calculated to be understood by the
         Claimant, setting forth: (1) the specific reason or reasons for such
         denial; (2) the specific reference to pertinent provisions of this Plan
         on which such denial is based; (3) a description of any additional
         material or information necessary for the Claimant to perfect his claim
         and an explanation why such material or such information is necessary;
         (4) appropriate information as to the steps to be taken if the Claimant
         wishes to submit the claim for review; and (5) the time limits for
         requesting a review.

(b)      Within sixty (60) days after the receipt by the Claimant of the written
         determination described above, the Claimant may request in writing that
         the Claims Administrator review the determination. The Claimant or his
         or her duly authorized representative may, but need not, review the
         pertinent documents and submit issues and comments in writing for
         consideration by the Claims Administrator. If the Claimant does not
         request a review of the determination within such sixty (60) day
         period, the Claimant shall be barred and estopped from challenging the
         Claims Administrator's determination.

(c)      Within sixty (60) days after receipt of a request for review, the
         Claims Administrator will review its previous determination. After
         consideration of all materials presented by the Claimant, the Claims
         Administrator will render a written determination, written in a


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<PAGE>   11

         manner calculated to be understood by the Claimant, setting forth the
         specific reasons for the decision and containing specific references to
         the pertinent provisions of the Plan on which the determination is
         based. If special circumstances require that the sixty (60) day time
         period be extended, the Claims Administrator will so notify the
         Claimant and will render the decision as soon as possible, but no later
         than one hundred twenty (120) days after receipt of the request for
         review.

15.      AMENDMENT OR TERMINATION OF PLAN

         The Board, at any time and from time to time, may amend or modify any
         or all of the provisions of this Plan or may terminate this Plan.
         Notwithstanding the foregoing, no termination or amendment of the Plan
         may reduce the benefits payable under the plan to any person with
         respect to a Participant whose employment with the Company was
         terminated, who attained age 65 or died before such termination or
         amendment, and no termination or amendment may reduce the benefits to
         be paid with respect to a Participant on the date of such termination
         or amendment below the amount that such Participant would have received
         if his employment had terminated on the date before such termination or
         amendment.

16.      NOTICE

         Any notice or other communication hereunder shall be in writing and
         shall be deemed to have been duly given or delivered (a) as of the
         third business day after mailing by certified or registered mail,
         postage prepaid, or (b) as of the second business day after delivery to
         a national express delivery service, to the last known addresses of the
         parties or such other addresses at which the parties shall from time to
         time notify one another.

17.      EMPLOYMENT RIGHTS

         This Plan shall not be deemed to create a contract of employment
         between the Company and any Participant and shall create no right in
         any Participant to continue in the Company's employ for any specific
         period of time.

18.      INDEPENDENCE OF BENEFITS

         The benefits payable under this Plan shall be independent of, and in
         addition to, any other benefits or compensation, payable under any
         other employment agreements or benefit arrangements that now exist or
         may hereafter exist from time to time between the Company and any
         Participant. Nor does this Plan in any way affect or reduce the
         existing and future compensation and other benefits of the Participant.



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<PAGE>   12

19.      ASSIGNABILITY

         Except insofar as this provision may be contrary to applicable law, no
         sale, transfer, alienation, assignment, pledge, collateralization, or
         attachment of any benefits under this Plan shall be valid or recognized
         by the Company.

20.      GOVERNING LAW; BINDING EFFECT; LIMITATIONS PERIOD; VENUE

         The parties hereto agree that all matters pertaining to the validity,
         construction and effect of this Plan shall be determined in accordance
         with the laws of the State of Florida to the extent not preempted by
         ERISA. This Plan shall be binding upon and insure to the benefit of the
         parties hereto and their respective successors and assigns. Any legal
         action or proceeding hereunder may be brought only following exhaustion
         of the Participant's administrative remedies and within a period of
         three years from the date the claim was incurred, unless other
         applicable law would permit a longer period of time within which to
         bring an action. Any such legal action or proceeding may be initiated
         only in Broward County or Miami-Dade County, Florida or the county in
         which the Employer of the Participant has its principal place of
         business.

21.      PRONOUNS AND HEADING

         As used herein, all pronouns shall include the masculine, feminine,
         neuter, singular and plural thereof wherever the context and facts
         require such construction. The headings, titles, and subtitles herein
         are inserted for convenience of reference only and are to be ignored in
         any construction of the provisions hereof.





















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