Document:

EXHIBIT 10.2

                              FINANCING AGREEMENT

THIS FINANCING AGREEMENT is made effective as of February 14, 2002 by and
between MANCHESTER COMMERCIAL FINANCE LLC, a Minnesota limited liability company
located at 7400 Metro Boulevard, Suite 450, Minneapolis, Minnesota 55439-2326
("Lender") and RESEARCH, INCORPORATED, a Minnesota corporation located at 6425
Flying Cloud Drive, Eden Prairie, MN 55344 ("Borrower"). Lender and Borrower
desire to enter into certain financing arrangements according to the terms and
conditions set forth in this Agreement. Therefore, for valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Lender and
Borrower hereby agree as follows:

                             SECTION I. DEFINITIONS

1.1 The following definitions shall apply throughout this Agreement:

"ACCOUNTS" shall mean all accounts as defined in the Uniform Commercial Code as
in effect in the State of Minnesota; all present and future accounts,
receivables, chattel paper, instruments, contract rights and general
intangibles; all of Borrower's lease receivables, license receivables, contract
rights and other amounts from time to time owing for services rendered, or for
goods sold, leased or licensed, whether or not earned by performance; all
service, lease, rental and other agreements in any way relating to any of the
foregoing; all tax refunds or claims for tax refunds; all other rights to
receive payments of money from any person; and all of Borrower's right, title
and interest under any guaranty or other collateral agreement relating to any of
the foregoing; in all cases whether now owned or hereafter acquired.

"AGREEMENT" means this Financing Agreement, all exhibits and schedules, and any
extensions, amendments or modifications hereof.

"BORROWER" means Research, Incorporated, a Minnesota corporation, whose chief
executive office is located at 6425 Flying Cloud Drive, Eden Prairie, MN 55344.

"BORROWING BASE" means an amount (as of the time any determination is made)
equal to that part of the amount of such of Borrower's Accounts, Inventory, and
Equipment deemed eligible by Lender in its sole and absolute discretion for
advances hereunder. Initially the Borrowing Base will consist of the sum of 80%
of eligible Accounts, 50% of eligible Inventory with inventory advances limited
to the lesser of the accounts receivable borrowing base or $150,000; provided
Lender may change such percentages at any time in its sole discretion. The
Borrowing Base amounts so determined is subject to reduction and requires
periodic payments by Borrower as follows: the sub-limit cap on inventory will be
reduced by $2,500 per month for the first 6 months and $5,000 per month
thereafter.

"COLLATERAL" means collectively all of Borrower's right, title and interest
(whether now owned or hereafter acquired) in the property which is subject to a
lien, security interest, or encumbrance in favor of Lender under the Loan
Documents including: (a) Accounts, Inventory, and Equipment, (b) machinery,
motor vehicles, instruments, chattel paper, contract rights, general
intangibles, documents, deposit accounts, and insurance proceeds, (c) real
estate, and (d) all files, books of account, customer lists, computer programs,
applications, disks, software and other records evidencing or pertaining to any
of the foregoing; and (e) general intangibles, including without limitation
patents and patent applications.

<PAGE>

"CREDIT LIMIT" means the amount of $1,000,000.00.

"EQUIPMENT" means all equipment as defined in the Uniform Commercial Code in
effect in the State of Minnesota, together with all replacements, attachments,
substitutions, and proceeds thereof, in all cases whether now owned or hereafter
acquired.

"ERISA" means the Employee Retirement Income Security Act of 1974, as amended.

"EVENT OF DEFAULT" shall mean any Event of Default described in Section 8.1 and
8.8.1 hereof.

"INVENTORY" means all inventory as defined in the Uniform Commercial Code in
effect in the State of Minnesota, together with all replacements, attachments,
substitutions, and proceeds thereof, in all cases whether now owned or hereafter
acquired.

"LENDER" means Manchester Commercial Finance LLC, a Minnesota limited liability
company whose chief executive office is located at 7400 Metro Boulevard, Suite
450, Minneapolis, Minnesota 55439-2326.

"LOAN DOCUMENTS" means this Agreement; any and all notes, security agreements,
financing statements, mortgages, subordinations, guarantees, and certificates;
any other documents or instruments executed and delivered in connection
herewith; and any and all renewals, extensions, modifications, or amendments of
any of the foregoing.

"PRIME RATE" shall mean the rate of interest established and publicly announced
by Bank of America, N.A. from time to time as its prime rate, base rate, or
reference rate.

                              SECTION II. ADVANCES

2.1 Lender agrees to make discretionary advances to Borrower from time to time
from the date hereof to and including the earlier of January 31, 2003, or the
termination of this Agreement pursuant to its terms, in an aggregate principal
amount not to exceed the lesser of the Credit Limit or the Borrowing Base. This
is a discretionary revolving credit, and advances shall be made at the total and
complete discretion of Lender. Lender shall have no obligation to Borrower to
make any advances, and Lender may refuse to make advances whether or not an
Event of Default has occurred. All advances made pursuant to this Agreement
shall be repaid by Borrower to Lender on demand.

2.2 Lender from time to time shall furnish a statement of Borrower's account to
Borrower. Any such statement shall be deemed conclusive unless written
objections to the account calling the Lender's attention to errors are received
by Lender within thirty (30) days after the account is mailed or delivered to
Borrower.

<PAGE>

2.3 Additionally, no advances shall be made hereunder except upon the occurrence
of the following conditions: (a) Lender shall have received duly executed copies
of the Loan Documents, including corporate authorization; (b) Lender shall have
received a copy of a signed order from the United States Bankruptcy Court, in
form and substance acceptable to Lender, approving the financing and the Loan
Documents, which order has not been stayed, reversed, vacated, rescinded,
modified or amended in any respect and which order: (i) pursuant to 11 U.S.C.
ss. 364(d) grants to Lender to secure the obligations under the Loan Documents a
first priority, attached and perfected lien and security interest senior to all
other liens in the Borrower's pre-petition and post-petition Collateral; (ii)
grants Lender superpriority status under the provisions of 11 U.S.C. ss.
364(c)(1) over all other administrative expenses incurred in the Borrower's
Chapter 11 case, except for court costs and quarterly fees under 28 U.S.C. ss.
1930 and except for court approved professional fees payable to professionals
retained by the Debtor and the Creditor's Committee not to exceed the aggregate
amount of $100,000.00; and (iii) provides that pursuant to 11 U.S.C. ss. 364(e)
that neither the reversal or modification of such order, nor the entry of an
order confirming a plan of reorganization in Borrower's Chapter 11 case or the
conversion of such case to a case under Chapter 7 of the Bankruptcy Code shall
affect the validity or priority of Lender's administrative expense status or the
liens and security interests with respect to Borrower's obligations to Lender as
approved by the Bankruptcy Court.

                          SECTION III. CHARGES AND FEES

3.1 Borrower agrees to pay interest calculated on the net balance owed to Lender
at the close of each calendar day at a rate per annum (computed on the basis of
actual number of days elapsed and a year of 360 days) which is three and one
half percent (3.5%) in excess of the Prime Rate, but such rate shall never be
less than 9.5% per annum. Such interest shall be due and payable at the close of
each month. Lender will advance sufficient amounts hereunder to pay such
interest by making appropriate postings to Borrower's account.

3.2 Borrower shall pay Lender a collateral monitoring fee of an amount equal to
the greater of one half of one percent (1/2%) of the month's average loan
balance or $750.00. Such amounts shall be payable monthly in arrears.

3.3 Notwithstanding anything to the contrary contained herein, Borrower agrees
to pay a minimum amount of interest to Lender of $1,200.00 per month (net of
participated amounts).

3.4 Upon the occurrence of an Event of Default under the terms of this Agreement
or of any of the other Loan Documents, Lender shall have the right to charge
Borrower the additional amount of $50.00 per day for so long as such breach
continues.

3.5 Borrower shall pay Lender an amount equal to one percent (1%) per annum of
the Credit Limit. Such amounts shall be payable annually in advance.

3.6 Borrower shall pay Lender an advance fee of $25.00 for every advance
requested before 10:30 a.m. on any business day, and for any advance requested
after such time Lender shall charge an additional $25.00 for any advance it is
able to make on such business day.

3.7 In addition to any other fees and charges, upon termination of this
Financing Agreement for any reason, including, but not limited to, payment as
part of a confirmed plan of reorganization, payment in conjunction with Borrower
obtaining replacement financing, or any other reason, Borrower shall pay to
Lender a fee in an amount equal to two percent (2%) of the Credit Limit as
defined herein.

<PAGE>

                         SECTION IV. LISTING OF ACCOUNTS

4.1 Prior to or concurrently with its initial borrowing hereunder and monthly
thereafter, Borrower shall furnish Lender a listing and aging of all of
Borrower's Accounts in a form and manner acceptable to Lender. Borrower shall
also deliver to Lender weekly, or at other intervals mutually agreed upon, a
list of all Accounts created or acquired by Borrower following the most recent
monthly listing and aging of Accounts delivered to Lender.

4.2 Borrower warrants to Lender that, except as may be disclosed in such listing
and aging of Accounts, (a) each of Borrower's billings correctly sets forth the
subject matter and terms of sale, (b) the merchandise conforms to the purchase
requirements and is in all respects acceptable to Borrower's customer, (c) the
date of billing is not prior to shipment, (d) the Account is not subject to any
dispute, defense, offset, or counterclaim, (e) the Borrower's customer is not a
subsidiary of Borrower or affiliated in any manner with Borrower, and (f)
Borrower has no reason to believe the Account will not be paid in the ordinary
course of business.

                      SECTION V. CUSTODY AND INSPECTION OF
                        RECORDS; HANDLING OF COLLECTIONS

5.1 All ledger sheets or cards, invoices, shipping records, correspondence, and
other writings relating to Accounts shall, until delivered to Lender or removed
by Lender from Borrower's premises, be kept on Borrower's premises without cost
to Lender in an orderly and businesslike fashion easily accessible by Lender.

5.2 Until Borrower's authority to do so is terminated by written notice from
Lender (which notice Lender may give at any time), Borrower will at its expense
and on Lender's behalf collect as Lender's property and in trust for Lender all
amounts payable on Accounts, and shall not commingle such collections with
Borrower's own funds. Subject to Lender's rights under the other Loan Documents
executed and delivered by Borrower, Borrower shall remit all collections to
Lender in kind, duly endorsed, on the same date received as practicable
(otherwise on the following business day), and Lender shall credit the same to
Borrower's account (subject to Lender's cutoff requirements and final collection
thereof) after allowing two business days for collection thereof.

5.3 If Lender exercises its collection rights under the other Loan Documents,
Lender may remove from Borrower's premises all books and records, computer disks
and programs, correspondence, documents and files relating to the Accounts, and
Lender may without cost or expense to Lender use such of Borrower's personnel,
supplies, space and equipment at Borrower's place of business as Lender may
desire in order to effect such collections. Borrower agrees to pay any and all
internal, office, and out-of-pocket expenses and costs of collection (including
reasonable attorneys fees) incurred by Lender in its collection of such
Accounts.

5.4 Lender may conduct audits and inspections of Borrower and its books and
records at Lender's discretion. Borrower shall reimburse Lender for all of
Lender's out-of-pocket expenses in conducting such audits, and in addition
Borrower shall pay Lender a charge of $750.00 per day while Lender is conducting
such audits.

<PAGE>

                               SECTION VI. REPORTS

6.1 Borrower will furnish to Lender: (a) monthly within 10 days of month end, in
such detail as Lender may request, written reports certified as correct by one
of Borrower's officers, showing all sales of merchandise, returns and
allowances, collections, and all miscellaneous charges and credits affecting
Collateral, (b) monthly within 30 days of month end, financial statements
acceptable to Lender prepared in accordance with generally accepted accounting
principles, (c) annually within 90 days of fiscal year end, at Borrower's
expense, a complete certified audit report of Borrower's operations and
condition made by an independent certified public accountant satisfactory to
Lender, (d) upon receipt, copies of all such accountants' reports (including
management or commentary letters) delivered to Borrower during the period of
time this Agreement is in effect, (e) within five (5) days after the due date
thereof, proof of payment or deposit when due of all withholding, FICA, and
other taxes owing by Borrower from time to time, (f) copies of all reports
required to be filed with the Office of the United States Trustee; and (g) such
other reports and information concerning Accounts, Inventory, Equipment, and
other matters as Lender may request.

             SECTION VII. WARRANTIES, REPRESENTATIONS AND COVENANTS

7.1 Borrower warrants, represents, and covenants with Lender that it will not:
(a) permit any levy, attachment or restraint to be made affecting any of its
assets; or (b) permit any receiver, trustee, or assignee for the benefit of
creditors to be appointed to take possession of any or all of Borrower's assets.
Borrower further warrants, represents, and covenants with Lender that, except
with the Lender's prior written consent, Borrower will not: (a) other than in
the ordinary course of business, sell, lease or otherwise dispose of or transfer
any of its assets; (b) merge or consolidate with any other person, corporation,
or other entity; (c) acquire any other person, corporation, or other entity; (d)
enter into any transaction not in the ordinary course of business; (e) make any
investment in securities of any person, corporation or other entity except for
securities of the United States of America; (f) guaranty or otherwise become in
any way liable for the obligations of any person, corporation, or other entity
except for obligations arising by endorsement of checks or other instruments in
the ordinary course of business, which checks and instruments are deposited to
Borrower's general account or which are delivered to Lender in payment of
Borrower's obligations hereunder; (g) pay or declare any dividends or make any
other distributions on account of Borrower's capital stock or other securities;
(h) redeem, retire, purchase or otherwise acquire directly or indirectly any of
Borrower's capital stock or other securities; (i) make any change in its capital
structure or in any of its business objectives, purposes and operations which
might in any way adversely affect Borrower's ability to repay its obligations
hereunder; (j) make any distribution of its properties or assets; (k) incur any
debts other than debts arising for accounts payable in the ordinary course of
Borrower's business and other than renewals or extensions of existing debts
which have been disclosed in writing to Lender; (l) make any loan, advance,
contribution or payment of money or goods to any subsidiary or affiliate, or to
any officer, director, stockholder, or other owner of Borrower (except
compensation for personal services); or (m) encumber, pledge, assign or permit a
lien or security interest to be created in any of the Collateral.

<PAGE>

7.2 All covenants, representations and warranties set forth in this Agreement
and in any of the other Loan Documents, and all terms, conditions, provisions
and agreements to be performed by Borrower pursuant to this Agreement and the
other Loan Documents, shall be true, correct, and complete, and all covenants
shall be fully satisfied, at all times during which this Agreement is in effect.

                         SECTION VIII. EVENTS OF DEFAULT

8.1 "Event of Default" means any of the following events: (a) failure of
Borrower to pay any principal outstanding under this Agreement or any of the
Loan Documents when due; (b) failure of Borrower to pay any interest, fees, or
charges required to be paid under this Agreement or any of the Loan Documents
when due; (c) any representation or warranty made by, or on behalf of, Borrower
shall prove to have been incorrect in any material respect when made; (d)
default in the performance of any other covenant or agreement of Borrower or any
other party pursuant to this Agreement or any of the other Loan Documents; (e)
[intentionally omitted]; (f) Borrower shall fail to pay any of its indebtedness
incurred after the commencement of Borrower's Chapter 11 proceeding in the
ordinary course when due; (g) the entry against Borrower or any guarantor after
the commencement of Borrower's Chapter 11 proceeding of a judgment, decree or
order for the payment of money and the continuance of such judgment, decree or
order unsatisfied for a period of 15 days without a stay of execution; or (h)
any Reportable Event (as defined in ERISA) shall have occurred and continue for
30 days; or any Plan (as defined in ERISA) shall have been terminated by
Borrower not in compliance with ERISA, or a trustee shall have been appointed by
a court to administer any such Plan, or the Pension Benefit Guaranty Corporation
shall have instituted proceedings to terminate any such Plan or to appoint a
trustee to administer any such Plan.

8.1.1. Additional Events of Default.

         Additionally, the occurrence of any one or more of the following events
shall constitute an Event of Default:

                  a. Entry of an order of the United States Bankruptcy Court
         modifying, amending, reversing, vacating, or staying the order
         approving this Financing Agreement, or if Borrower shall violate the
         terms of such order;

                  b. (i) The Bankruptcy Court shall enter an order dismissing
         Borrower's Chapter 11 case; (ii) the Borrower's Chapter 11 case shall
         be converted to a case under Chapter 7 of the Bankruptcy Code; (iii)
         without the consent of Lender, a trustee or examiner with expanded
         powers shall be appointed in Borrower's Chapter 11 case; (iv) a motion
         shall be filed for or there shall arise any claim (other than those of
         Lender hereunder) in Borrower's Chapter 11 case having a priority under
         ss. 364(c)(1) of the Bankruptcy Code unless such motion provides for
         the payment in full in cash of Borrower's obligations to Lender upon
         the closing of such financing; (v) a motion shall be filed for, or
         there shall arise, a claim (other than those of Lender hereunder) in
         the Borrower's Chapter 11 case secured by a lien having a priority
         under ss. 364(d) of the Bankruptcy Code unless such motion provides for
         payment in full in cash of Borrower's obligations to Lender upon the
         closing of such financing; (vi) there shall arise any lien in the
         Collateral or any part thereof; (vii) the Bankruptcy Court shall enter
         an order granting relief from the automatic stay applicable under ss.
         362 of the Bankruptcy Code to the holder of any security interest other
         than Lender with respect to any material property of the estate of the
         Borrower or in the Collateral; or (viii) the Bankruptcy Court shall
         enter an order approving a disclosure statement in connection with the
         plan of reorganization proposed by Borrower or any other person which
         plan of reorganization is inconsistent with Borrower's agreements and
         obligations hereunder.

<PAGE>

8.2 If any Event of Default shall occur, Lender may refuse to make any further
advances, declare any or all notes, all interest thereon, and all obligations
under or pursuant to any of the Loan Documents to be immediately due and
payable, exercise any right or remedy under any of the Loan Documents or any
other right or remedy of a secured party under the Uniform Commercial Code as in
effect in the State of Minnesota, and exercise any other right or remedy
available to the Lender at law or in equity. Further, Lender may exercise the
rights and remedies set forth above at any time at its sole discretion. Further,
Borrower hereby agrees that in the event of a default hereunder, which default
is not cured within five (5) business days after written notice of such default
is served by Lender to Borrower and its counsel, Lender shall be entitled to an
order granting it relief from the automatic stay, upon submission to the
Bankruptcy Court of an affidavit indicating such default and Borrower's failure
to cure. Borrower's only defense to such relief shall be that no such default
exists under the Loan Documents or the Court's order. Nothing herein or in the
Court's order shall limit Lender's right to otherwise seek relief from the
automatic stay or take such other and further action in connection with
Borrower's bankruptcy case on any other grounds.

                            SECTION IX. MISCELLANEOUS

9.1 Borrower agrees that from time to time, for Lender's convenience, Lender may
segregate or apportion the Collateral for purposes of determining the amounts of
loans and rates of advances which may be made under this Agreement.
Notwithstanding the foregoing, the security interests and liens conveyed by
Borrower to Lender in the Collateral, and any and all other collateral rights,
interest and properties which may now or hereafter be available to Lender, shall
secure and may be applied to the payment of any and all loans, advances and
other indebtedness arising hereunder or under the other Loan Documents in any
order or manner of application and without regard to the method by which Lender
determines to make loans or advances hereunder.

9.2 After and during the continuance of an Event of Default, Borrower hereby
irrevocably makes, constitutes and appoints Lender, or any person Lender may
designate, Borrower's true and lawful attorney with the power to receive, open
and dispose of all mail addressed to Borrower; to endorse the name of Borrower
upon any notes, acceptances, checks, drafts, money orders, instruments, or other
means of payment that may come in to Lender's possession as payment of or upon
Accounts or any other Collateral; to endorse the name of Borrower on any
invoice, freight or express bill or bill of lading relating to any Collateral;
to sign Borrower's name on drafts from Borrower's customers; and to do all and
other things necessary or proper to carry out the purpose and intent of this
Agreement; provided, however, regardless of whether an Event of Default has
occurred , Lender shall have the right at all times to exercise all powers and
rights as provided in the lock box agreement dated February 20, 2002 of the
parties.

9.2A Borrower hereby irrevocably makes, constitutes and appoints Lender, or any
person Lender may designate, Borrower's true and lawful attorney with the power
to sign Borrower's name on all assignments and verifications of Accounts and
notices thereof to Borrower's customers.

<PAGE>

9.3 At Lender's request, Borrower will deliver to Lender Borrower's monthly
statements and invoices directed to its customers for Lender's examination and
for mailing in stamped, addressed envelopes. From time to time, Lender may
verify directly with Borrower's customers the amounts owing by sending out
verifications in the name of an officer or officers of Borrower.

9.4 Borrower agrees that any bank or other lender participating with Lender in
any loans or advances made to Borrower hereunder may exercise any and all
rights, including without limitation all banker's liens and rights of setoff,
with respect to such participation as fully as if such participant had lent the
amount of such participation directly to Borrower.

9.5 Borrower agrees to reimburse Lender (and any and all participants) for all
attorneys fees, filing fees and other out-of-pocket expenses (including but not
limited to travel and audit expenses) which Lender or any participant may incur
in connection with the negotiation and administration of this Agreement or any
of the other Loan Documents, the preparation of documents relating thereto,
perfecting any security interest, mortgage, or lien granted thereby, or
enforcing any of Borrower's obligations to Lender arising under this or any
other Loan Document. If Lender so elects, Lender may treat the amount of any
such expense described in this paragraph as a loan to Borrower hereunder and
under the Loan Documents.

9.6 This Agreement shall bind and inure to the benefit of the parties and to
their respective successors and assigns; provided, however, the Borrower shall
not have the right to assign any of its rights or obligations under this
Agreement or under any of the Loan Documents without the express prior written
consent of Lender. This Agreement and all of the other Loan Documents shall be
construed and interpreted in accordance with the laws of the State of Minnesota.
Borrower hereby irrevocably submits to the jurisdiction of the Minnesota
District Court, Fourth Judicial District, and the Federal District Court,
District of Minnesota, Fourth Division, in any action or proceeding arising out
of or relating to this Agreement or any of the other Loan Documents. The parties
waive the right to trial by jury in any action or proceeding relating to or
arising under this Agreement or any of the other Loan Documents.

MANCHESTER COMMERCIAL FINANCE LLC         RESEARCH, INCORPORATED
Lender                                    Borrower

By:    /s/ John Hoagberg                  By:    /s/ Brad Yopp
   ---------------------------------         ---------------------------------
    Title: Executive Vice President           Title: President<PAGE>

                                                                  EXECUTION COPY

                                 AMENDMENT NO. 2

     This Amendment No. 2 dated as of February 22, 2002 ("Agreement") is among
Landry's Restaurants, Inc., a Delaware corporation (the "Borrower"), the lenders
from time to time party to the Credit Agreement described below ("Lenders"), and
Bank of America, N.A., as administrative agent for the Lenders ("Administrative
Agent").

                                  INTRODUCTION

     A.  The Borrower, the Administrative Agent, and the Lenders are parties to
the First Amended and Restated Credit Agreement dated as of June 28, 2000, as
amended by Amendment No. 1 and Consent dated as of October 17, 2000 (as so
amended, "Credit Agreement").

     B.  The Borrower has requested that the Lenders agree to make certain
amendments to the Credit Agreement, that the Lenders extend the maturity of the
Credit Agreement, that certain Lenders increase their Commitments, that SunTrust
Bank ("SunTrust") be added as a Lender under the Credit Agreement, and that The
Fuji Bank, Limited and The Bank of Tokyo-Mitsubishi, Ltd., Houston Agency be
replaced as Lenders because they chose not to extend maturity.

     C.  Subject to the terms hereof, the Lenders agree to the amendments and
extension contained herein.

     THEREFORE, the Borrower, the Administrative Agent, and the Lenders hereby
agree as follows:

     Section 1. Definitions. Unless otherwise defined in this Agreement, terms
                -----------
used in this Agreement which are defined in the Credit Agreement shall have the
meanings assigned to such terms in the Credit Agreement.

     Section 2. Amendments. The Credit Agreement is hereby amended as follows:
                ----------

     (a)  Upon the effectiveness of this Agreement, SunTrust shall be a Lender
with all rights, powers, and privileges attendant thereto. The Commitment of
each Lender shall be amended to be as indicated beside such Lender's name on the
attached Schedule 2.01, and Schedule 2.01 to the Credit Agreement shall be
replaced by the attached Schedule 2.01. Upon the effectiveness of this
Agreement, only the Lenders party to this Agreement shall be Lenders under the
Credit Agreement.

     (b)  The following definitions in Section 1.01 shall be amended to read in
their entirety as follows:

                "Applicable Amount" means the following amounts per annum, based
                 -----------------
          upon the Total Debt Leverage Ratio as set forth in the most recent
          Compliance Certificate received by the Administrative Agent pursuant
          to Section 6.02(b):
             ---------------

<PAGE>

<TABLE>
<CAPTION>
          --------------------------------------------------------------------------------
          Pricing    Total Debt Leverage     Commitment     Offshore      Base Rate +
          Level      Ratio                   Fee            Rate +
          --------------------------------------------------------------------------------
          <S>        <C>                     <C>            <C>           <C>
          1          #1.0:1                  0.50%          2.00%         0.25%
          --------------------------------------------------------------------------------
          2          *1.0:1 but #1.5:1       0.50%          2.25%         0.50%
          --------------------------------------------------------------------------------
          3          *1.5:1 but #2.25:1      0.50%          2.50%         0.75%
          --------------------------------------------------------------------------------
          4          *2.25:1                 0.50%          2.75%         1.00%
          --------------------------------------------------------------------------------
</TABLE>

          ;provided that, prior to the Notes Issuance Date, Pricing Level 4
           --------
          shall not apply, and the Applicable Amount for all Total Debt Leverage
          Ratios greater than 1.5:1.0 shall be at Pricing Level 3.

          The Applicable Amount shall be in effect from the date the most recent
          Compliance Certificate is received by Administrative Agent to but
          excluding the date the next Compliance Certificate is received;
          provided, however, that if the Borrower fails to timely deliver the
          --------  -------
          next Compliance Certificate, the Applicable Amount from the date such
          Compliance Certificate was due to but excluding the date such
          Compliance Certificate is received by Administrative Agent shall be
          the highest pricing level in effect at such time, and, thereafter, the
          pricing level indicated by such Compliance Certificate when received.

               "Commitment" means, for each Lender, the obligation of such
                ----------
          Lender to make Extensions of Credit in an aggregate principal amount
          not exceeding the amount set forth opposite such Lender's name on
          Schedule 2.01 at any one time outstanding, as such amount may be
          -------------
          increased or reduced from time to time in accordance with this
          Agreement (collectively, the "combined Commitments").
                                        --------------------

               "Maturity Date" means July 1, 2004, as it may be earlier
                -------------
          terminated or extended in accordance with the terms hereof.

               "Non-Recourse Subsidiary" means any wholly owned Subsidiary of
                -----------------------
          which the Administrative Agent has been notified and which (a) if it
          has acquired assets from the Borrower or any of its other
          Subsidiaries, it has acquired such assets only in compliance with this
          Agreement, (b) is not a Subsidiary as of the Closing Date, (c) owns
          only Property acquired by it after the Closing Date, (d) does not own
          any capital stock, or any warrants, options, or other rights to
          acquire capital stock of any Subsidiary, and (e) has no Indebtedness
          or other obligations pursuant to which the lender or other beneficiary
          of such obligations, directly or

                                      -2-

<PAGE>

               indirectly, has recourse to any asset of the Borrower or any of
               its other Subsidiaries.

                    "Pro Rata Share" means, with respect to each Lender, either
                     --------------
               (a) the ratio (expressed as a percentage) of such Lender's
               Commitment at such time to the combined Commitments at such time,
               (b) if the Commitments have been terminated, the ratio (expressed
               as a percentage) of such Lender's aggregate outstanding
               Extensions of Credit at such time to the aggregate outstanding
               Extensions of Credit of all the Lenders at such time, or (c) if
               no Extensions of Credit are then outstanding and no Commitments
               then in effect, the ratio (expressed as a percentage) of the
               aggregate principal amount of such Bank's Extensions of Credit
               when most recently outstanding to the aggregate principal amount
               of all Extensions of Credit when most recently outstanding.

          (c)  The following definitions shall be added in alphabetical order to
               Section 1.01:

                    "Headquarters Building" has the meaning specified in Section
                     ---------------------
               7.01(j).

                    "Notes Issuance Date" means the date upon which the Borrower
                     -------------------
               issues, (i) pursuant to Section 7.01(i), convertible subordinated
               notes or senior subordinated notes or (ii) Indebtedness of
               Non-Recourse Subsidiaries, in either case which, when aggregated
               with any prior issuances of such Indebtedness, have an aggregate
               original principal amount of at least $15,000,000.

                    "Senior Debt Leverage Ratio" means, as of any date of its
                     --------------------------
               determination, the ratio of (a) Consolidated Funded Indebtedness,
               minus Indebtedness of Non-Recourse Subsidiaries, up to a maximum
               -----
               of $35,000,000, minus Subordinated Indebtedness, each as of such
                               -----
               date, to (b) Consolidated EBITDA minus the portion of
                                                -----
               Consolidated EBITDA which is attributable to any Non-Recourse
               Subsidiary whose Indebtedness was subtracted in clause (a) above,
               in each case for the period of the four fiscal quarters most
               recently ended.

                    "Subordinated Indebtedness" means the Indebtedness of the
                     -------------------------
               Borrower or any of its Subsidiaries which is (a) permitted under
               Section 7.01(i) or (b) incurred under subordination and other
               terms at least as favorable to the Lenders and Administrative
               Agent as those pursuant to which any Indebtedness permitted under
               Section 7.01(i) is issued and approved in writing by the
               Requisite Lenders and the Administrative Agent.

                    "Total Debt Leverage Ratio" means, as of any date of its
                     -------------------------
               determination, the ratio of (a) Consolidated Funded Indebtedness
               as of

                                      -3-

<PAGE>

               such date to (b) Consolidated EBITDA for the period of the four
               fiscal quarters most recently ended.

          (d)  The definition of "Leverage Ratio" in Section 1.01 shall be
               deleted.

          (e)  Article II is amended to add the following Section 2.13 to the
               end of Article II:

               2.13. Increase of Commitments. If no Default or Event of Default
                     -----------------------
               then exists, the Borrower shall have the right, without the
               consent of the Lenders, to increase the combined Commitments by
               adding to this Agreement one or more lenders who are Eligible
               Assignees (who shall, upon completion of the requirements stated
               in this Section 2.13 constitute Lenders hereunder), or by
               allowing one or more Lenders to increase their Commitments
               hereunder, provided that (a) the sum of the current Commitments
               plus such added Commitments plus any increases in current
               Commitments shall not be greater than $220,000,000, (b) no
               Lender's Commitment shall be increased without the consent of
               such Lender, (c) no Person shall be added to this Agreement
               without its consent, and (d) on the effective date of any such
               increase or addition, either there shall be no Committed Loans
               outstanding or there shall have been arrangements satisfactory to
               the Administrative Agent made to prepay all outstanding Committed
               Loans, together with accrued interest thereon and any amounts
               payable pursuant to Section 3.05. Any prepayment made by the
               Borrower in accordance with the preceding subparagraph (d) of
               this Section 2.13 may be made with the proceeds of Loans made by
               all the Lenders in connection with an increase in the Commitments
               pursuant to this Section 2.13. There shall be no fee paid to any
               Lender not increasing its Commitment in connection with an
               increase in the combined Commitments under this Section 2.13. The
               Borrower shall give the Administrative Agent five Business Days'
               notice of the Borrower's intention to increase any Commitment or
               add a new lender pursuant to this Section 2.13. Such notice shall
               specify each new lender, if any, the changes in amounts of
               Commitments that will result, the date on which such addition or
               change is to occur (which shall be a Business Day), and such
               other information as is reasonably requested by the
               Administrative Agent. Each new lender agreeing to be added to
               this Agreement, and each Lender agreeing to increase its
               Commitment, shall execute and deliver to the Administrative Agent
               a New Lender Agreement in substantially the form of Exhibit H-1
               or a Commitment Increase Agreement in substantially the form of
               Exhibit H-2, pursuant to which it becomes a party hereto or
               increases its Commitment, as the case may be. In addition, an
               authorized officer of the Borrower shall execute and deliver a
               Committed Loan Note in the principal amount of the Commitment of
               each new lender, or a replacement Committed Loan Note in the
               principal amount of the increased Commitment of each Lender
               agreeing to increase its Commitment, as the case may be. Each
               such Committed Loan Note shall be dated the effective date of the
               pertinent New Lender Agreement or

                                      -4-

<PAGE>

               Commitment Increase Agreement, as the case may be, shall be
               properly completed, and shall otherwise be in substantially the
               form of Exhibit C. Upon execution and delivery to the
               Administrative Agent of the Committed Loan Note and execution by
               the Administrative Agent of the relevant New Lender Agreement or
               Commitment Increase Agreement, as the case may be, such new
               lender shall constitute a "Lender" hereunder with a Commitment as
               specified therein, or such Lender's Commitment shall increase as
               specified therein, as the case may be, and the Administrative
               Agent shall notify the Lenders of such addition or increase.

          (f)  Section 6.13 is amended to insert the following after the words
"Within 30 days after the creation of any new Subsidiary":

               , other than a Non-Recourse Subsidiary that owns the Headquarters
               Building and any Non-Recourse Subsidiary that has Indebtedness
               the Liens securing which are permitted under Section 7.02(j),

          (g)  Section 7.01(c) is amended to add the words "and 7.02(j)" after
the words Section 7.02(d)".

          (h)  Section 7.01(d) is amended to add the words "and 7.02(j)" after
the words Section 7.02(d)".

          (i)  Section 7.01 is amended to add the following subsections after
the existing subsection 7.01(h), and the existing subsection 7.01(i) shall be
renamed subsection 7.01(k):

                    (i) Unsecured Indebtedness in the form of convertible
               subordinated notes or senior subordinated notes (i) in an
               aggregate original principal amount that does not exceed
               $135,000,000 and (ii) which are issued pursuant to terms and
               conditions (A) if issued in a registered or 144A offering,
               customary for similar securities issued in a registered or 144A
               offering, as reasonably determined and approved in writing by the
               Administrative Agent, or (B) if not issued in a registered or
               144A offering, on terms reasonably acceptable to and approved in
               writing by the Requisite Lenders;

                    (j) Indebtedness of a Non-Recourse Subsidiary (i) which does
               not exceed $20,000,000 in the aggregate at any time and (ii)
               which shall be used solely to finance or refinance the purchase
               of the Borrower's headquarters building at 1510 West Loop South,
               Houston, Texas (the "Headquarters Building"); and
                                    ---------------------

          (j)  Section 7.02(d) is amended to add the following language at the
end of such section, immediately preceding the final semicolon:

               , less the amount of Indebtedness secured by Liens permitted
               under Section 7.02(j)

                                      -5-

<PAGE>

     (k)     Section 7.02 is amended to add the following subsections after
the existing subsection 7.02(g):

                    (h) Liens granted by a Non-Recourse Subsidiary securing the
             Indebtedness described in Section 7.01(j) so long as such Liens (i)
             secure only the Indebtedness described in Section 7.01(j) and (ii)
             extend only to the Headquarters Building, the office leases, real
             estate, fixtures, appurtenances, and building equipment related to
             the Headquarters Building, and other customary mortgage financing
             collateral related to the Headquarters Building and related real
             estate;

                    (i) Liens granted by the Borrower or one of its Subsidiaries
             securing the Indebtedness described in Section 7.01(j) so long as
             such Liens (i) secure only the Indebtedness described in Section
             7.01(j) and (ii) extend only to the equity interests of the
             Non-Recourse Subsidiary which owns the Headquarters Building and
             the proceeds thereof; and

                    (j) Liens securing Indebtedness assumed or incurred in
             connection with an Acquisition permitted under Section 7.11 so long
             as
                        (i) such Liens and Indebtedness comply with the
                    limitations described in Sections 7.01(c) and 7.02(d)
                    (iv) and

                        (ii) either (A) such Liens extend only to specific
                    fixed assets acquired in connection with such Acquisition
                    and proceeds thereof and do not secure Indebtedness other
                    than purchase-money debt, capital leases, or term debt, or
                    (B) such Indebtedness is Indebtedness only of a Non-Recourse
                    Subsidiary and any such Liens granted by a party other than
                    such Non-Recourse Subsidiary extend only to the equity
                    interests in such Non-Recourse Subsidiary.

     (l)     Section 7.12 is amended to read in its entirety as follows:

             7.12. Capital Expenditures. Make, or become legally obligated to
                   --------------------
             make, any capital expenditure (excluding Acquisitions permitted
             under Section 7.11), except capital expenditures in any fiscal
                                                 ------
             year of the Borrower not exceeding the sum of (a) (i) in fiscal
             year 2001, $75,000,000 and (ii) in fiscal years thereafter,
             $85,000,000 and (b) the amount, up to $10,000,000, of unused
             capital expenditure allowance for the immediately preceding fiscal
             year.

     (m)     Section 7.14(c) is amended to read in its entirety as follows:

                    (c)    Total Debt Leverage Ratio. Permit the Total Debt
                           -------------------------
             Leverage Ratio (i) at any time prior to the Notes Issuance Date to
             be greater than 2.25 to 1.0 or (ii) at any time on or after the
             Notes Issuance Date to be greater than 3.0 to 1.0.

                                      -6-

<PAGE>
     (n)     Section 7.14 is amended to add the following subsection (e) to the
end of Section 7.14:

                    (e)     Senior Debt Leverage Ratio. Permit the Senior Debt
                            --------------------------
             Leverage  Ratio at any time on or after the Notes Issuance Date to
             be greater than 2.0 to 1.0.

     (o)     Exhibit B to the Credit Agreement (Compliance Certificate) shall be
amended (i) to change all references to and calculations of "Leverage Ratio" in
Exhibit B to references to and calculations of the "Total Debt Leverage Ratio"
and (ii) to insert the following at the end of Schedule 2 to Exhibit B:

          ----------------------------------------------------------------------
           V.       Section 7.14(e) - Senior Debt Leverage Ratio
                    (calculate only after Notes Issuance Date)

          ----------------------------------------------------------------------
           A.       Consolidated    Funded   Indebtedness       at   $__________
                    Statement Date

          ----------------------------------------------------------------------
           B.       Lesser of (1)  Indebtedness of Non-Recourse      $__________
                    Subsidiaries and (2) $35,000,000

          ----------------------------------------------------------------------
           C.       Subordinated Indebtedness at Statement Date      $__________

          ----------------------------------------------------------------------
           D.       Consolidated EBITDA                              $__________

          ----------------------------------------------------------------------
           E.       Portion of Consolidated  EBITDA  attributable to $__________
                    Non-Recourse  Subsidiaries whose Indebtedness
                    is listed in Line B above

          ----------------------------------------------------------------------
           F.       Senior Debt Leverage Ratio =                     $__________
                           (A - B - C))(D - E):

                    Maximum Permitted:  2.0 to 1.0

          ----------------------------------------------------------------------
           G.       Compliance?  (Is F # 2.0?)                        __________

          ----------------------------------------------------------------------

     (p)     The attached Exhibits H-1 and H-2 shall be added as Exhibits H-1
and H-2 to the Credit Agreement and included in the table of contents of
Exhibits to the Credit Agreement.

     Section 3.      Representations and Warranties of the Borrower. The
                     ----------------------------------------------
Borrower represents and warrants to the Administrative Agent and the Lenders
that:

     (a)     the  representations  and warranties set forth in the Credit
Agreement and in the other Loan Documents are true and correct in all material
respects as of the date of this Agreement;

                                      -7-

<PAGE>

       (b)    (i) the execution, delivery and performance of this Agreement are
within the corporate power and authority of the Borrower and have been duly
authorized by appropriate proceedings and (ii) this Agreement constitutes a
legal, valid, and binding obligation of the Borrower, enforceable in accordance
with its terms, except as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, or similar laws affecting the rights of creditors
generally and general principles of equity; and

       (c)    as of the effectiveness of this Agreement, no Default or Event of
Default has occurred and is continuing.

       Section 4.   Representations and Warranties of Administrative Agent and
                    ----------------------------------------------------------
Lenders. The Administrative Agent and the Lenders (a) make no representation or
-------
warranty and assume no responsibility with respect to any statements,
warranties, or representations made in or in connection with the Loan Documents
or the execution, legality, validity, enforceability, genuineness, sufficiency,
or value of the Credit Agreement, the Loan Documents, or any other instrument or
document furnished pursuant thereto, and (b) make no representation or warranty
and assume no responsibility with respect to the financial condition of the
Borrower or any other Person or the performance or observance by such Persons of
any of their obligations under the Loan Documents, or any other instrument or
document furnished pursuant thereto

       Section 5.   Representations, Warranties, Covenants, and Agreements of
                    ---------------------------------------------------------
SunTrust. SunTrust (a) confirms that it has received a copy of the Credit
--------
Agreement and the other Loan Documents, together with copies of the financial
statements referred to in the Credit Agreement and such other documents and
information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Agreement and become a Lender party to the Credit
Agreement; (b)agrees that it will, independently and without reliance upon the
Administrative Agent or any Lender and based on such documents and information
as it shall deem appropriate at the time, continue to make its own credit
decisions in taking or not taking action under the Loan Documents; (c) appoints
or authorizes the Administrative Agent to take such action on its behalf and to
exercise such powers under the Loan Documents as are delegated by the terms
thereof, together with such powers as are reasonably incidental thereto; (d)
agrees that it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be
performed by it as a Lender; (e) specifies as its lending office (and address
for notices) the office set forth beneath its name on the signature pages
hereof; and (f) attaches a completed administrative questionnaire hereto

       Section 6.   Effectiveness. This Agreement shall become effective as of
                    -------------
the date of this Agreement, and the Credit Agreement shall be amended as
provided in this Agreement, upon the occurrence of the following conditions
precedent:

       (a)    the Borrower shall have delivered duly and validly executed
originals of this Agreement to the Administrative Agent, and the Administrative
Agent and all the Lenders listed on the attached Schedule 2.01 shall have
executed and delivered this Agreement;

       (b)    the Borrower shall have delivered to the Administrative Agent duly
and validly executed original Committed Loan Notes payable to the order of each
Lender whose Commitment is increased by this Amendment, in the amounts of such
increased Commitments;

                                      -8-

<PAGE>
       (c)    the representations and warranties in this Agreement shall be true
and correct in all material respects;

       (d)    the Administrative Agent shall have received a duly executed
reaffirmation of each Guaranty by a Subsidiary of the Borrower in form and
substance satisfactory to the Administrative Agent;

       (e)    the  Administrative  Agent  shall  have  received  a  favorable
opinion of counsel for the Borrower in form and substance acceptable to the
Administrative Agent; and

       (f)    the Borrower shall have paid to the Administrative Agent and to
each Lender the fees and expenses payable to them pursuant to the letters dated
December 21, 2001 and February 11, 2002 from Bank of America, N.A. and Banc of
America Securities LLC, each accepted and agreed to by the Borrower, and under
any other agreement between the Borrower and the Administrative Agent.

       Section 7.     Effect on Loan Documents.
                      ------------------------

       (a)    Except as amended herein, the Credit Agreement and the Loan
Documents remain in full force and effect as originally executed. Nothing herein
shall act as a waiver of any of the Administrative Agent's or Lenders' rights
under the Loan Documents, as amended, including the waiver of any Default or
Event of Default, however denominated.

       (b)    This Agreement is a Loan Document for the purposes of the
provisions of the other Loan Documents. Without limiting the foregoing, any
breach of representations, warranties, and covenants under this Agreement may be
a Default or Event of Default under other Loan Documents.

       Section 8.     Choice of Law. This Agreement shall be governed by and
                      -------------
construed and enforced in accordance with the laws of the State of Texas.

       Section 9.     Counterparts.  This Agreement may be signed in any number
                      ------------
of counterparts, each of which shall be an original.

         [The remainder of this page has been left blank intentionally.]

                                      -9-

<PAGE>

EXECUTED to be effective as of the date first above written.

                                            LANDRY'S RESTAURANTS, INC.

                                            By:_________________________________
                                            Name:_______________________________
                                            Title:______________________________

                                            BANK OF AMERICA, N.A., as
                                            Administrative Agent

                                            By:_________________________________
                                            Name:
                                            Title:

                                            LENDERS:

                                            BANK OF AMERICA, N.A.

                                            By:_________________________________
                                            Name:
                                            Title:

                                            THE BANK OF NOVA SCOTIA

                                            By:_________________________________
                                            Name:_______________________________
                                            Title:______________________________

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