Document:

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                                                                   EXHIBIT 10.19

   THIS GUARANTY IS SUBORDINATED TO THE GUARANTY DATED AS OF APRIL 26, 1999
   EXECUTED BY EACH OF THE UNDERSIGNED IN FAVOR OF BANK BOSTON, N.A. (n/k/a
    FLEET NATIONAL BANK), AS AGENT ("AGENT"), AND CERTAIN OTHER FINANCIAL
      INSTITUTIONS PARTY TO THAT CERTAIN REVOLVING CREDIT AND TERM LOAN
  AGREEMENT DATED AS OF APRIL 26, 1999 BY AND AMONG CHART HOUSE ENTERPRISES,
 INC., CHART HOUSE, INC., AGENT, AND SUCH FINANCIAL INSTITUTIONS, PURSUANT TO
    THAT CERTAIN SUBORDINATION AGREEMENT OF EVEN DATE HEREWITH EXECUTED BY
 AGENT, CHART HOUSE INC., CHART HOUSE ENTERPRISES INC., THE UNDERSIGNED, AND
                               SAMSTOCK, L.L.C.

                                    GUARANTY
                                    --------

     GUARANTY, dated as of November ___, 2000, by CHART HOUSE ENTERPRISES OF
IDAHO, INC., an Idaho corporation, CHART HOUSE ENTERPRISES OF PUERTO RICO, INC.,
a Louisiana corporation, CHART HOUSE OF ANNAPOLIS, INC., a Delaware corporation,
CHART HOUSE OF MARYLAND, INC., a Delaware corporation, CHART HOUSE ACQUISITION,
INC., a Delaware corporation, BIG WAVE, INC., a Delaware corporation, CORK `N
CLEAVER, INC., a Delaware corporation, and ANALOS COMPANY, a Delaware
corporation (collectively the "Guarantors"), in favor of SAMSTOCK, L.L.C., a
Delaware limited liability company ("Lender").

     WHEREAS, Chart House Enterprises, Inc. ("Parent") and Chart House, Inc.
(the "Company") and the Guarantors are members of a group of related
corporations, the success of any one of which is dependent in part on the
success of the other members of such group;

     WHEREAS, each of the Guarantors expects to receive substantial direct and
indirect benefits from the extensions of credit to the Company by Lender
pursuant to that certain Subordinated Promissory Note and Guaranty of even date
herewith (as amended from time to time, the "Note") executed by Parent and the
Company in favor of Lender, and pursuant to which Lender made a loan (the
"Loan") to the Company in the amount of $2,000,000 (which benefits are hereby
acknowledged);

     WHEREAS, it is a condition precedent to Lender's making the Loan to the
Company that each of the Guarantors execute and deliver to Lender this guaranty;
and

     WHEREAS, each of the Guarantors wishes to guaranty the Company's
obligations to Lender under or in respect of the Loan and the Note as provided
herein;

     NOW, THEREFORE, each of the Guarantors hereby agrees with Lender as
follows:

     1.   Definitions.  The term "Obligations" and all other capitalized terms
          ------------
used herein without definition shall have the respective meanings provided
therefor in the Note.

     2.   Guaranty of Payment and Performance.  Each of the Guarantors hereby
          -----------------------------------
guarantees to Lender the full and punctual payment when due (whether at stated
maturity, by required pre-payment, by acceleration or otherwise), as well as the
performance, of all of the Obligations including all such Obligations which
would become due but for the operation of the automatic stay pursuant to
(S)362(a) of the Federal Bankruptcy Code and the operation of (S)(S)502(b) and
506(b) of the Federal Bankruptcy Code. This Guaranty is an absolute,
unconditional and continuing guaranty of the full and punctual payment and
performance of all of the Obligations and not of their collectibility only and
is in no way conditioned upon any requirement that Lender first attempt to
collect any of the Obligations from the Company or
<PAGE>

resort to any collateral security or other means of obtaining payment. Should
the Company default in the payment or performance of any of the Obligations, the
joint and several obligations of each of the Guarantors hereunder with respect
to such Obligations in default shall, upon demand by Lender, become immediately
due and payable, without demand or notice of any nature, all of which are
expressly waived by the Guarantors. Payments by each of the Guarantors hereunder
may be required by Lender on any number of occasions. All payments by such
Guarantors hereunder shall be made to Lender, in the manner and at the place of
payment specified therefor in the Note.

     3.   Guarantors' Agreement to Pay Enforcement Costs, etc.  Each of the
          ---------------------------------------------------
Guarantors further jointly and severally agrees, as the principal obligor and
not as a guarantor only, to pay to Lender, on demand, all costs and expenses
(including court costs and reasonable legal expenses) incurred or expended by
Lender in connection with the Obligations, this Guaranty and the enforcement
thereof, together with interest on amounts recoverable under this (S)3 from the
time when such amounts become due until payment, whether before or after
judgment, at the rate of interest set forth in the Note, provided that if such
                                                         ---------
interest exceeds the maximum amount permitted to be paid under applicable law,
then such interest shall be reduced to such maximum permitted amount.

     4.   Waivers by Guarantors; Lender's Freedom to Act. Each of the Guarantors
          ----------------------------------------------
agrees that the Obligations will be paid and performed strictly in accordance
with their respective terms, regardless of any law, regulation or order now or
hereafter in effect in any jurisdiction affecting any of such terms or the
rights of Lender with respect thereto. Each of the Guarantors waives promptness,
diligences, presentment, demand, protest, notice of acceptance, notice of any
Obligations incurred and all other notices of any kind, all defenses which may
be available by virtue of any valuation, stay, moratorium law or other similar
law now or hereafter in effect, any right to require the marshalling of assets
of the Company or any other entity or other person primarily or secondarily
liable with respect to any of the Obligations, and all suretyship defenses
generally. Without limiting the generality of the foregoing, each of the
Guarantors agrees to the provisions of any instrument evidencing, securing or
otherwise executed in connection with any Obligation and agrees that the
obligations of each of the Guarantors hereunder shall not be released or
discharged, in whole or in part, or otherwise affected by (i) the failure of
Lender to assert any claim or demand or to enforce any right or remedy against
the Company or any other entity or other person primarily or secondarily liable
with respect to any of the Obligations; (ii) any extensions, compromise,
refinancing, consolidation or renewals of any Obligation; (iii) any change in
the time, place or manner of payment of any of the Obligations or any
rescissions, waivers, compromise, refinancing, consolidation or other amendments
or modifications of any of the terms or provisions of the Note or any other
agreement evidencing, securing or otherwise executed in connection with any of
the Obligations made in accordance with the terms thereof; (iv) the addition,
substitution or release of any entity or other person primarily or secondarily
liable for any Obligation; or (v) any other act or omission which might in any
manner or to any extent vary the risk of such Guarantor or otherwise operate as
a release or discharge of such Guarantor, all of which may be done without
notice to the Guarantor.

     5.   Unenforceability of Obligations Against Company. If for any reason the
          -----------------------------------------------
Company has no legal existence or is under no legal obligation to discharge any
of the Obligations, or if any of the Obligations have become irrecoverable from
the Company by reason of the Company's insolvency, bankruptcy or reorganization
or by other operation of law or for any other reason, this Guaranty shall
nevertheless be binding on each of the Guarantors to the same extent as if such
Guarantor at all times had been the principal obligor on all such Obligations.
In the event that acceleration of the time for payment of any of the Obligations
is stayed upon the insolvency, bankruptcy or reorganization of the Company, or
for any other reason, all such amounts otherwise subject to acceleration under
the terms of the Note or any other agreement evidencing, securing or otherwise
executed in connection with any Obligation shall be immediately due and payable
by such Guarantor.
<PAGE>

     6.   Subrogation; Subordination.
          --------------------------

          6.1.  Waiver of Rights Against Company.  Until the final payment and
                --------------------------------
     performance in full of all of the Obligations, none of the Guarantors shall
     exercise and each of the Guarantors hereby waives any rights against the
     Company arising as a result of payment by such Guarantor hereunder, by way
     of subrogation, reimbursement, restitution, contribution or otherwise, and
     will not prove any claim in competition with Lender in respect of any
     payment hereunder in any bankruptcy, insolvency or reorganization case or
     proceedings of any nature; none of the Guarantors will claim any setoff,
     recoupment or counterclaim against the Company in respect of any liability
     of such Guarantor to the Company.

          6.2.  Subordination.  The payment of any amounts due with respect to
                -------------
     any indebtedness of the Company for money borrowed or credit received now
     or hereafter owed to each of the Guarantors is hereby subordinated to the
     prior payment in full of all of the Obligations. Each of the Guarantors
     agrees that, after the occurrence of any default in the payment or
     performance of any of the Obligations, such Guarantor will not demand, sue
     for or otherwise attempt to collect any such indebtedness of the Company to
     such Guarantor until all of the Obligations shall have been paid in full.
     If, notwithstanding the foregoing sentence, such Guarantor shall collect,
     enforce or receive any amounts in respect of such indebtedness while any
     Obligations are still outstanding, such amounts shall be collected,
     enforced and received by such Guarantor as trustee for Lender and be paid
     over to Lender on account of the Obligations without affecting in any
     manner the liability of such Guarantor under the other provisions of this
     Guaranty.

          6.3.  Provisions Supplemental.  The provisions of this (S)6 shall be
                ------------------------
     supplemental to and not in derogation of any rights and remedies of Lender
     under any separate subordination agreement which Lender may at any time and
     from time to time enter into with any of the Guarantors.

     7.   Setoff.  Upon the occurrence and during the continuance of an Event of
          ------
Default, Lender is hereby authorized at any time and from time to time, without
notice to the Guarantors (any such notice being expressly waived by each of the
Guarantors) and to the fullest extent permitted by law, to set off and apply any
and all sums credited by or due from Lender to any Guarantor against the
obligations of such Guarantor under this Guaranty, whether or not Lender shall
have made any demand under this Guaranty and although such obligations may be
contingent or unmatured.

     8.   Further Assurances.  Each of the Guarantors agrees that it will from
          ------------------
time to time, at the request of Lender, do all such things and execute all such
documents as Lender may consider necessary or desirable to give full effect to
this Guaranty and to perfect and preserve the rights and powers of Lender
hereunder. Each of the Guarantors acknowledges and confirms that such Guarantor
itself has established its own adequate means of obtaining from the Company on a
continuing basis all information desired by such Guarantor concerning the
financial condition of the Company and that such Guarantor will look to the
Company and not to Lender in order for such Guarantor to keep adequately
informed of changes in the Company's financial condition.

     9.   Termination; Reinstatement.  This Guaranty shall remain in full force
          --------------------------
and effect until Lender is given written notice of any of the Guarantors'
intention to discontinue this Guaranty, notwithstanding any intermediate or
temporary payment or settlement of the whole or any part of the Obligations. No
such notice shall be effective unless received and acknowledged by an officer of
Lender at the address of Lender for notices set forth in the Note.  No such
notice shall affect any rights of Lender hereunder, including without limitation
the rights set forth in (S)(S)4 and 6, with respect to any Obligations incurred
or accrued prior to the receipt of such notice or any Obligations incurred or
accrued pursuant to any contract
<PAGE>

or commitment in existence prior to such receipt. This Guaranty shall continue
to be effective or be reinstated, notwithstanding any such notice, if at any
time any payment made or value received with respect to any Obligation is
rescinded or must otherwise be returned by Lender upon the insolvency,
bankruptcy or reorganization of the Company, or otherwise, all as though such
payment had not been made or value received.

     10.  Successors and Assigns.  This Guaranty shall be binding upon each of
          ----------------------
the Guarantors, its successors and assigns, and shall inure to the benefit of
Lender and its successors, transferees and assigns. Without limiting the
generality of the foregoing sentence, Lender may assign or otherwise transfer
the Note or any other agreement or note held by it evidencing, securing or
otherwise executed in connection with the Obligations, or sell participations in
any interest therein, to any other entity or other person, and such other entity
or other person shall thereupon become vested, to the extent set forth in the
agreement evidencing such assignment, transfer or participation, with all the
rights in respect thereof granted to Lender herein.  No Guarantor may assign any
of its obligations hereunder.

     11.  Amendments and Waivers.  No amendment or waiver of any provision of
          ----------------------
this Guaranty nor consent to any departure by any of the Guarantors therefrom
shall be effective unless the same shall be in writing and signed by Lender.  No
failure on the part of Lender to exercise, and no delay in exercising, any right
hereunder shall operate as a waiver thereof; nor shall any single or partial
exercise of any right hereunder preclude any other or further exercise thereof
or the exercise of any other right.

     12.  Notices.  All notices and other communications called for hereunder
          -------
shall be made in writing and, unless otherwise specifically provided herein,
shall be deemed to have been duly made or given when delivered by hand or mailed
first class, postage prepaid, or, in the case of telegraphic or telexed notice,
when transmitted, answer back received, addressed as follows: if to a Guarantor,
at the address set forth beneath its signature hereto, and if to Lender, at the
address for notices to Lender set forth in the Note, or at such address as
either party may designate in writing to the other.

     13.  Governing Law; Consent to Jurisdiction.  THIS GUARANTY SHALL BE
          --------------------------------------
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAWS
OF CONFLICTS) OF THE STATE OF ILLINOIS.  Each of the Guarantors agrees that any
suit for the enforcement of this Guaranty may be brought in the courts of the
State of Illinois or any federal court sitting therein and consents to the
nonexclusive jurisdiction of such court and to service of process in any such
suit being made upon the Guarantor by mail at the address specified by reference
in (S)12. Each of the Guarantors hereby waives any objection that it may now or
hereafter have to the venue of any such suit or any such court or that such suit
was brought in an inconvenient court.

     14.  Waiver of Jury Trial.  EACH OF THE GUARANTORS HEREBY WAIVES ITS RIGHT
          --------------------
TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE
IN CONNECTION WITH THIS GUARANTY, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THE
PERFORMANCE OF ANY OF SUCH RIGHTS OR OBLIGATIONS. Except as prohibited by law,
each of the Guarantors hereby waives any right which it may have to claim or
recover in any litigation referred to in the preceding sentence any special,
exemplary, punitive or consequential damages or any damages other than, or in
addition to, actual damages. Each of the Guarantors (a) certifies that neither
Lender nor any representative, agent or attorney of Lender has represented,
expressly or otherwise, that Lender would not, in the event of litigation, seek
to enforce the foregoing waivers and (b) acknowledges that, in making the loan
evidenced by the Note, Lender is relying upon, among other things, the waivers
and certifications contained in this (S)14.

     15.  Miscellaneous.  This Guaranty constitutes the entire agreement of each
          -------------
of the Guarantors with respect to the matters set forth herein. The rights and
remedies herein provided are cumulative and
<PAGE>

not exclusive of any remedies provided by law or any other agreement, and this
Guaranty shall be in addition to any other guaranty of or collateral security
for any of the Obligations. The invalidity or unenforceability of any one or
more sections of this Guaranty shall not affect the validity or enforceability
of its remaining provisions. Captions are for the ease of reference only and
shall not affect the meaning of the relevant provisions. The meanings of all
defined terms used in this Guaranty shall be equally applicable to the singular
and plural forms of the terms defined. This Guaranty may be executed (a) in
counterparts, each of which counterparts shall be an original, and all of which
together shall constitute one instrument, and (b) by facsimile signature, and
such facsimile signature shall be deemed to be an original instrument.

     IN WITNESS WHEREOF, each of the Guarantors has caused this Guaranty to be
executed and delivered as of the date first above written.

                              CHART HOUSE ENTERPRISES OF IDAHO, INC.

                              By:    ___________________________________
                              Name:  Laura Mondrowski
                                     -----------------------------------
                              Title: Assistant Secretary
                                     -----------------------------------

                              Address:

                              640 N. LaSalle Street, Suite 295
                              Chicago, Illinois 60610

                              CHART HOUSE ENTERPRISES OF PUERTO RICO, INC.

                              By:    ___________________________________
                              Name:  William Sullivan
                                     -----------------------------------
                              Title: Executive Vice President & CFO
                                     -----------------------------------

                              Address:

                              640 N. LaSalle Street, Suite 295
                              Chicago, Illinois 60610

                              CHART HOUSE OF MARYLAND, INC.

                              By:    ___________________________________
                              Name:  William Sullivan
                                     -----------------------------------
                              Title: Executive Vice President & CFO
                                     -----------------------------------

                              Address:

                              640 N. LaSalle Street, Suite 295
                              Chicago, Illinois 60610
<PAGE>

                              CHART HOUSE OF ANNAPOLIS, INC.

                              By:    ___________________________________
                              Name:  William Sullivan
                                     -----------------------------------
                              Title: Executive Vice President & CFO
                                     -----------------------------------

                              Address:

                              640 N. LaSalle Street, Suite 295
                              Chicago, Illinois 60610

                              CHART HOUSE ACQUISITION, INC.

                              By:    ___________________________________
                              Name:  William Sullivan
                                     -----------------------------------
                              Title: Executive Vice President & CFO
                                     -----------------------------------

                              Address:

                              640 N. LaSalle Street, Suite 295 Chicago, Illinois
                              60610

                              BIG WAVE, INC.

                              By:    ___________________________________
                              Name:  William Sullivan
                                     -----------------------------------
                              Title: Executive Vice President & CFO
                                     -----------------------------------

                              Address:

                              640 N. LaSalle Street, Suite 295 Chicago, Illinois
                              60610

                              CORK'N CLEAVER, INC.

                              By:    ___________________________________
                              Name:  William Sullivan
                                     -----------------------------------
                              Title: Executive Vice President & CFO
                                     -----------------------------------

                              Address:

                              640 N. LaSalle Street, Suite 295 Chicago, Illinois
                              60610

                              ANALOS COMPANY

                              By:    ___________________________________
                              Name:  William Sullivan
                                     -----------------------------------
                              Title: Executive Vice President & CFO
                                     -----------------------------------

                              Address:

                              640 N. LaSalle Street, Suite 295 Chicago, Illinois
                              60610<PAGE>

                                                                   EXHIBIT 10.20

                            SUBORDINATION AGREEMENT

         SUBORDINATION AGREEMENT (this "Agreement"), dated as of November __,
2000, between FLEET NATIONAL BANK (formerly known as BankBoston, N.A.), a
national banking association having its office at 100 Federal Street, Boston,
Massachusetts 02110, in its capacity as agent (the "Agent") for the Banks (as
hereinafter defined), SAMSTOCK, L.L.C., a Delaware limited liability company
having a principal of business at Two North Riverside Plaza, Suite 600, Chicago,
Illinois 60606 (the "Subordinating Creditor"), CHART HOUSE, INC., a Delaware
corporation having its office at 640 North LaSalle Street, Suite 295, Chicago,
Illinois 60610 (the "Borrower"), Chart House Enterprises, Inc. (the "Parent")
and each of the Subsidiaries of the Borrower set forth on the signature pages
hereto as Guarantors.

         WHEREAS, pursuant to a Revolving Credit and Term Loan Agreement, dated
as of April 26, 1999 (as amended and in effect from time to time, including any
replacement agreement therefor, the "Credit Agreement"), among the lending
institutions party thereto (the "Banks"), the Agent, the Borrower and the
Parent, the Banks have agreed, upon the terms and subject to the conditions
contained therein, to make loans and otherwise to extend credit to the Borrower;
and

         WHEREAS, the Subordinating Creditor has extended or agreed to extend
credit to the Borrower pursuant to a Subordinated Promissory Note and Guaranty
dated as of even date herewith (as amended with the consent of the Agent as
provided herein and in effect from time to time, the "Subordinated Note"),
executed by the Borrower and the Parent in favor of the Subordinating Creditor;
and

         WHEREAS, it is a condition precedent to the Banks' willingness to make
loans and otherwise to extend credit to the Borrower pursuant to the Credit
Agreement that the Borrower and the Subordinating Creditor enter into this
Agreement with the Agent; and

         WHEREAS, in order to induce the Banks to make loans and otherwise
extend credit to the Borrower pursuant to the Credit Agreement, the Borrower and
the Subordinating Creditor have agreed to enter into this Agreement with the
Agent;

         NOW, THEREFORE, in consideration of the foregoing, the mutual
agreements herein contained and other good and valuable consideration, the
receipt and adequacy of which are hereby acknowledged, the parties hereto,
intending to be legally bound, hereby agree as follows:

         1.    Definitions. Terms not otherwise defined herein have the same
               -----------
respective meanings given to them in the Credit Agreement. In addition, the
following terms shall have the following meanings:

         Senior Debt. All principal, interest, fees, costs, enforcement expenses
         -----------
(including legal fees and disbursements), collateral protection expenses and
other reimbursement
<PAGE>

                                      -2-

or indemnity obligations created or evidenced by the Credit Agreement or any of
the other Loan Documents or any prior, concurrent, or subsequent notes,
instruments or agreements of indebtedness, liabilities or obligations of any
type or form whatsoever relating thereto in favor of the Agent or any of the
Banks. Senior Debt shall expressly include any and all interest accruing or out
of pocket costs or expenses incurred after the date of any filing by or against
the Borrower of any petition under the federal Bankruptcy Code or any other
bankruptcy, insolvency or reorganization act regardless of whether the Agent's
or any Bank's claim therefor is allowed or allowable in the case or proceeding
relating thereto.

         Subordinated Debt. All principal, interest (including interest accrued
         -----------------
pursuant to the Subordinated Note), fees, costs, enforcement expenses (including
legal fees and disbursements), collateral protection expenses and other
reimbursement and indemnity obligations created or evidenced by the Subordinated
Note, the Subordinated Guaranty or any prior, concurrent or subsequent notes,
instruments or agreements of indebtedness, liabilities or obligations of any
type or form whatsoever relating thereto in favor of the Subordinating Creditor.

         Subordinated Documents. Collectively, the Subordinated Note, the
         ----------------------
Subordinated Guaranty, any promissory notes executed in connection therewith and
any and all guaranties and security interests, mortgages and other liens
directly or indirectly guarantying or securing any of the Subordinated Debt, and
any and all other documents or instruments evidencing or further guarantying or
securing directly or indirectly any of the Subordinated Debt, whether now
existing or hereafter created.

         Subordinated Guaranty. The Subordinated Guaranty, dated the date
         ---------------------
hereof, made by each Subsidiary of the Borrower in favor of the Subordinating
Creditor.

         2.    General. The Subordinated Debt and any and all Subordinated
               -------
     Documents shall be and hereby are subordinated and the payment thereof is
     deferred until the full and final payment in cash of the Senior Debt,
     whether now or hereafter incurred or owed by the Borrower. The parties
     hereby acknowledge and agree that the Agent and the Subordinating Creditor
     have discussed circumstances in which the Subordinated Debt could be
     prepaid upon the consummation of a recapitalization of the Borrower (or its
     affiliates), including, without limitation, a rights offering, equity
     issuance or sale or issuance of subordinate or mezzanine debt (a
     "Recapitalization Event"). The Subordinating Creditor acknowledges and
     agrees that no terms or conditions of prepayment of the Subordinated Debt
     have been agreed upon and that the Subordinated Debt may only be prepaid in
     connection with any Recapitalization Event with the consent of the Agent
     and the Banks, such consent to be granted or withheld in the sole and
     absolute discretion of the Agent and the Banks.
<PAGE>

                                      -3-

         3.    Enforcement. The Subordinating Creditor will not take or omit to
               -----------
take any action or assert any claim with respect to the Subordinated Debt or
otherwise which is inconsistent with the provisions of this Agreement. Without
limiting the foregoing, the Subordinating Creditor will not assert, collect or
enforce the Subordinated Debt or any part thereof or take any action to
foreclose or realize upon the Subordinated Debt or any part thereof or enforce
any of the Subordinated Documents except to the extent (but only to such extent)
that the commencement of a legal action may be required to toll the running of
any applicable statute of limitation, to defend any challenge to the validity of
the Subordinated Debt, or to file a proof of claim or to make a vote in a
proceeding described in (S)6.1. Until the Senior Debt has been finally paid in
full in cash, the Subordinating Creditor shall not have any right of
subrogation, reimbursement, restitution, contribution or indemnity whatsoever
from any assets of the Borrower or any guarantor of or provider of collateral
security for the Senior Debt. The Subordinating Creditor further waives any and
all rights with respect to marshalling.

         4.    Payments Held in Trust. Until the Senior Debt is paid in full in
               ----------------------
cash, the Subordinating Creditor will hold in trust and immediately pay over to
the Agent for the account of the Banks and the Agent, in the same form of
payment received, with appropriate endorsements, for application to the Senior
Debt any cash amount that the Borrower pays to the Subordinating Creditor with
respect to the Subordinated Debt, or as collateral for the Senior Debt any other
assets of the Borrower that the Subordinating Creditor may receive with respect
to the Subordinated Debt.

         5.    Defense to Enforcement. If the Subordinating Creditor, in
               ----------------------
contravention of the terms of this Agreement, shall commence, prosecute or
participate in any suit, action or proceeding against the Borrower, then the
Borrower may interpose as a defense or plea the making of this Agreement, and
the Agent or any Bank may intervene and interpose such defense or plea in its
name or in the name of the Borrower. If the Subordinating Creditor, in
contravention of the terms of this Agreement, shall attempt to collect any of
the Subordinated Debt or enforce any of the Subordinated Documents, then the
Agent, any Bank or the Borrower may, by virtue of this Agreement, restrain the
enforcement thereof in the name of the Agent or such Bank or in the name of the
Borrower. If the Subordinating Creditor, in contravention of the terms of this
Agreement, obtains any cash or other assets of the Borrower as a result of any
administrative, legal or equitable actions, or otherwise, the Subordinating
Creditor agrees forthwith to pay, deliver and assign to the Agent, for the
account of the Banks and the Agent, with appropriate endorsements, any such cash
for application to the Senior Debt and any such other assets as collateral for
the Senior Debt.

         6.    Bankruptcy, etc.
               ---------------

                    6.1. Payments relating to Subordinated Debt. At any meeting
                         --------------------------------------
         of creditors of the Borrower or in the event of any case or proceeding,
         voluntary or involuntary, for the distribution, division or application
         of all or part of the assets of the Borrower or the proceeds thereof,
         whether such case or proceeding be for the liquidation, dissolution or
         winding up of the Borrower or its business, a
<PAGE>

                                      -4-

         receivership, insolvency or bankruptcy case or proceeding, an
         assignment for the benefit of creditors or a proceeding by or against
         the Borrower for relief under the federal Bankruptcy Code or any other
         bankruptcy, reorganization or insolvency law or any other law relating
         to the relief of debtors, readjustment of indebtedness, reorganization,
         arrangement, composition or extension or marshalling of assets or
         otherwise, the Agent is hereby irrevocably authorized at any such
         meeting or in any such proceeding to receive or collect for the benefit
         of the Banks and the Agent any cash or other assets of the Borrower
         distributed, divided or applied by way of dividend or payment, or any
         securities issued on account of any Subordinated Debt, and apply such
         cash to or to hold such other assets or securities as collateral for
         the Senior Debt, and to apply to the Senior Debt any cash proceeds of
         any realization upon such other assets or securities that the Agent in
         its discretion elects to effect, until all of the Senior Debt shall
         have been paid in full in cash, rendering to the Subordinating Creditor
         any surplus to which the Subordinating Creditor is then entitled.

                    6.2. Securities by Plan of Reorganization or Readjustment.
                         ----------------------------------------------------
         Notwithstanding the foregoing provisions of (S).6.1, the Subordinating
         Creditor shall be entitled to receive and retain any securities of the
         Borrower or any other corporation or other entity provided for by a
         plan of reorganization or readjustment (a) the payment of which
         securities is subordinate, at least to the extent provided in this
         Agreement with respect to Subordinated Debt, to the payment of all
         Senior Debt under any such plan of reorganization or readjustment and
         (b) all other terms of which are acceptable to the Banks and the Agent.

                    6.3. Subordinated Debt Voting Rights. At any such meeting of
                         -------------------------------
         creditors or in the event of any such case or proceeding, the
         Subordinating Creditor shall retain the right to vote and otherwise act
         with respect to the Subordinated Debt (including, without limitation,
         the right to vote to accept or reject any plan of partial or complete
         liquidation, reorganization, arrangement, composition or extension),
         provided that the Subordinating Creditor shall not vote with respect to
         --------
         any such plan or take any other action in any way so as to contest (a)
         the validity of any Senior Debt or any collateral therefor or
         guaranties thereof, (b) the relative rights and duties of any holders
         of any Senior Debt established in any instruments or agreements
         creating or evidencing any of the Senior Debt with respect to any of
         such collateral or guaranties or (c) the Subordinating Creditor's
         obligations and agreements set forth in this Agreement.

         7.    Lien Subordination. The Senior Debt, the Credit Agreement and the
               ------------------
other Loan Documents and any and all other documents and instruments evidencing
or creating the Senior Debt and all guaranties, mortgages, security agreements,
pledges and other collateral guarantying or securing the Senior Debt or any part
thereof shall be senior to the Subordinated Debt and all of the Subordinated
Documents irrespective of the time of the execution, delivery or issuance of any
thereof or the filing or recording
<PAGE>

                                      -5-

for perfection of any thereof or the filing of any financing statement or
continuation statement relating to any thereof.

                    7.1. Further Assurances. The Subordinating Creditor hereby
                         ------------------
         agrees, upon request of the Agent at any time and from time to time, to
         execute such other documents or instruments as may be requested by the
         Agent further to evidence of public record or otherwise the senior
         priority of the Senior Debt as contemplated hereby.

                    7.2. Books and Records. The Subordinating Creditor further
                         -----------------
         agrees to maintain on its books and records such notations as the Agent
         may reasonably request to reflect the subordination contemplated hereby
         and to perfect or preserve the rights of the Agent hereunder. A copy of
         this Agreement may be filed as a financing statement in any Uniform
         Commercial Code recording office.

         8.    Banks' Freedom of Dealing. The Subordinating Creditor agrees,
               -------------------------
with respect to the Senior Debt and any and all collateral therefor or
guaranties thereof, that the Borrower and the Banks may agree to increase the
amount of the Senior Debt or otherwise modify the terms of any of the Senior
Debt, and the Banks may grant extensions of the time of payment or performance
to and make compromises, including releases of collateral or guaranties, and
settlements with the Borrower and all other persons, in each case without the
consent of the Subordinating Creditor or the Borrower and without affecting the
agreements of the Subordinating Creditor or the Borrower contained in this
Agreement; provided, however, that nothing contained in this (S).8 shall
           --------  -------
constitute a waiver of the right of the Borrower itself to agree or consent to a
settlement or compromise of a claim which the Agent or any Bank may have against
the Borrower.

         9.    Modification or Sale of the Subordinated Debt. The Subordinating
               ---------------------------------------------
Creditor will not, at any time while this Agreement is in effect, modify any of
the terms of any of the Subordinated Debt or any of the Subordinated Documents;
nor will the Subordinating Creditor sell, transfer, pledge, assign, hypothecate
or otherwise dispose of any or all of the Subordinated Debt to any person other
than a person who agrees in a writing, satisfactory in form and substance to the
Agent, to become a party hereto and to succeed to the rights and to bound by all
of the obligations of the Subordinating Creditor hereunder. In the case of any
such disposition by the Subordinating Creditor, the Subordinating Creditor will
notify the Agent at least 10 days prior to the date of any of such intended
disposition.

         10.   Borrower's Obligations Absolute. Nothing contained in this
               -------------------------------
Agreement shall impair, as between the Borrower and the Subordinating Creditor,
the obligation of the Borrower to pay to the Subordinating Creditor all amounts
payable in respect of the Subordinated Debt as and when the same shall become
due and payable in accordance with the terms thereof, or prevent the
Subordinating Creditor (except as expressly otherwise provided in (S)3 or (S)6)
from exercising all rights, powers and remedies otherwise permitted by
Subordinated Documents and by applicable law upon a default in the payment of
the Subordinated Debt or under any Subordinated Document, all, however, subject
to the rights of the Agent and the Banks as set forth in this Agreement.
<PAGE>

                                      -6-

The failure of the Borrower to make any payment with respect to the Subordinated
Debt in accordance with its terms by reason of the operation of this Agreement
shall not be construed as preventing the occurrence of a default under the
Subordinated Documents.

         11.   Termination of Subordination. This Agreement shall continue in
               ----------------------------
full force and effect, and the obligations and agreements of the Subordinating
Creditor and the Borrower hereunder shall continue to be fully operative, until
all of the Senior Debt shall have been paid and satisfied in full in cash and
such full payment and satisfaction shall be final and not avoidable. To the
extent that the Borrower or any guarantor of or provider of collateral for the
Senior Debt makes any payment on the Senior Debt that is subsequently
invalidated, declared to be fraudulent or preferential or set aside or is
required to be repaid to a trustee, receiver or any other party under any
bankruptcy, insolvency or reorganization act, state or federal law, common law
or equitable cause (such payment being hereinafter referred to as a "Voided
Payment"), then to the extent of such Voided Payment, that portion of the Senior
Debt that had been previously satisfied by such Voided Payment shall be revived
and continue in full force and effect as if such Voided Payment had never been
made. In the event that a Voided Payment is recovered from the Agent or any
Bank, an Event of Default shall be deemed to have existed and to be continuing
under the Credit Agreement from the date of the Agent's or such Bank's initial
receipt of such Voided Payment until the full amount of such Voided Payment is
restored to the Agent or such Bank. During any continuance of any such Event of
Default, this Agreement shall be in full force and effect with respect to the
Subordinated Debt. To the extent that the Subordinating Creditor has received
any payments with respect to the Subordinated Debt subsequent to the date of the
Agent's or any Bank's initial receipt of such Voided Payment and such payments
have not been invalidated, declared to be fraudulent or preferential or set
aside or are required to be repaid to a trustee, receiver, or any other party
under any bankruptcy act, state or federal law, common law or equitable cause,
the Subordinating Creditor shall be obligated and hereby agrees that any such
payment so made or received shall be deemed to have been received in trust for
the benefit of the Agent or such Bank, and the Subordinating Creditor hereby
agrees to pay to the Agent for the benefit of the Agent or (as the case may be)
such Bank, upon demand, the full amount so received by the Subordinating
Creditor during such period of time to the extent necessary fully to restore to
the Agent or such Bank the amount of such Voided Payment. Upon the payment and
satisfaction in full in cash of all of the Senior Debt, which payment shall be
final and not avoidable, this Agreement will automatically terminate without any
additional action by any party hereto.

         12.   Notices. All notices and other communications which are required
               -------
and may be given pursuant to the terms of this Agreement shall be in writing and
shall be sufficient and effective in all respects if given in writing or
telecopied, delivered or mailed by registered or certified mail, postage
prepaid, as follows:
<PAGE>

                                      -7-

          If to the Agent:

                                        Fleet National Bank
                                        100 Federal Street
                                        Boston, MA 02110

                         Attention:     Thomas P. Tansi

               with a copy to:

                                        Bingham Dana LLP
                                        150 Federal Street
                                        Boston, MA 02110

                         Attention:     Robert A.J. Barry

          If to the Subordinating Creditor:

                                        Samstock, L.L.C.
                                        c/o Equity Group Investments, L.L.C.
                                        Two North Riverside Plaza
                                        Suite 600
                                        Chicago, IL 60606

                         Attention:     Don Liebentritt
                                        Jeff Klein

               with a copy to:

                                        Neal, Gerber & Eisenberg
                                        Two North LaSalle Street
                                        Chicago, IL 60602

                         Attention:     Marc Brenner

          If to the Parent, the
          Borrower or any Guarantor:

                                        Chart House, Inc.
                                        640 North LaSalle Street, Suite 295
                                        Chicago, IL 60610

                         Attention:     Thomas J. Walters

     or such other address or addresses as any party hereto shall have
designated by written notice to the other parties hereto. Notices shall be
deemed given and effective
<PAGE>

                                      -8-

upon the earlier to occur of (i) the third day following deposit thereof in the
U.S. mail or (ii) receipt by the party to whom such notice is directed.

     13.  Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND INTERPRETED
          -------------
IN ACCORDANCE WITH THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS AND SHALL BE A
SEALED INSTRUMENT UNDER SUCH LAWS.

     14.  Waiver of Jury Trial. EACH OF THE SUBORDINATING CREDITOR AND THE
          --------------------
BORROWER EACH HEREBY WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION
OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS AGREEMENT, ANY
RIGHTS OR OBLIGATIONS HEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS AND
OBLIGATIONS. EXCEPT AS PROHIBITED BY LAW, EACH OF THE SUBORDINATING CREDITOR AND
THE BORROWER HEREBY WAIVES ANY RIGHT WHICH IT MAY HAVE TO CLAIM OR RECOVER IN
ANY LITIGATION REFERRED TO IN THE PRECEDING SENTENCE ANY SPECIAL, EXEMPLARY,
PUNITIVE OR CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO,
ACTUAL DAMAGES. EACH OF THE SUBORDINATING CREDITOR AND THE BORROWER (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE AGENT OR ANY BANK HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE AGENT OR ANY BANK WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVERS AND (B)
ACKNOWLEDGES THAT THE AGENT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS CONTAINED HEREIN.

     15.  Miscellaneous. This Agreement may be executed in several
          -------------
counterparts and by each party on a separate counterpart, each of which when so
executed and delivered shall be an original, and all of which together shall
constitute one instrument. In proving this Agreement, it shall not be necessary
to produce or account for more than one such counterpart signed by the party
against which enforcement is sought. The Agent, acting upon the instructions of
the Required Banks, may, in their sole and absolute discretion, waive any
provisions of this Agreement benefiting the Agent and the Banks; provided,
                                                                 --------
however, that such waiver shall be effective only if in writing and signed by
-------
the Agent and shall be limited to the specific provision or provisions expressly
so waived. This Agreement shall be binding upon the successors and assigns of
the Subordinating Creditor and the Borrower and shall inure to the benefit of
the Agent and the Banks, the Agent's and the Banks' respective successors and
assigns, any lender or lenders refunding or refinancing any of the Senior Debt
and their respective successors and assigns, but shall not otherwise create any
rights or benefits for any third party. In the event that any lender or lenders
refund or refinance any of the Senior Debt, the terms "Credit Agreement", "Loan
Documents", "Event of Default" and the like shall refer mutatis mutandis to the
                                                        ------- --------
agreements and instruments in favor of such lender or lenders and to the related
definitions contained therein.
<PAGE>

                                      -9-

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.

                                BANK: FLEET NATIONAL BANK, As Agent

                                      By:____________________________________
                                           Name:
                                           Title:

              SUBORDINATING CREDITOR: SAMSTOCK, L.L.C.

                                      By:____________________________________
                                           Name:
                                           Title:

                              PARENT: CHART HOUSE ENTERPRISES, INC.

                                      By:____________________________________
                                           Name: William Sullivan
                                           Title: Executive Vice President & CFO

                            BORROWER: CHART HOUSE, INC.

                                      By:____________________________________
                                           Name: William Sullivan
                                           Title: Executive Vice President & CFO

                          GUARANTORS: CHART HOUSE ENTERPRISES OF
                                      IDAHO, INC.

                                      By:____________________________________
                                      Title: Assistant Secretary
<PAGE>

                                      -10-

                                      CHART HOUSE ENTERPRISES OF
                                      PUERTO RICO, INC.

                                      By:____________________________________
                                      Title: Executive Vice President & CFO

                                      CHART HOUSE OF ANNAPOLIS, INC.

                                      By:____________________________________
                                      Title: Executive Vice President & CFO

                                      CHART HOUSE OF MARYLAND, INC.

                                      By:____________________________________
                                      Title: Executive Vice President & CFO

                                      CHART HOUSE ACQUISITION, INC.

                                      By:____________________________________
                                      Title: Executive Vice President & CFO

                                      BIG WAVE, INC.rantor

                                      By:____________________________________
                                      Title: Executive Vice President & CFO

                                      CORK `N CLEAVER, INC.

                                      By:____________________________________
                                      Title: Executive Vice President & CFO
<PAGE>

                                      -11-

                                      ANALOS COMPANY

                                      By:____________________________________
                                      Title: Executive Vice President & CFO
<PAGE>

                                      -12-

                         CERTIFICATE OF ACKNOWLEDGMENT

STATE OF ________________________________)
                                         )  ss.
COUNTY OF _______________________________)

     Before me, the undersigned, a Notary Public in and for the county
aforesaid, on this ____ day of November, 2000, personally appeared ____________
to me known personally, and who, being by me duly sworn, deposes and says that
he is the ___________ of SAMSTOCK, L.L.C., and that said instrument was signed
and sealed on behalf of said limited liability company by authority of its
members, and said _________________ acknowledged said instrument to be the free
act and deed of said limited liability company.

                                        ____________________________
                                        Notary Public
                                        My commission expires:

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