Document:

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                                                                   Exhibit 10.51

                            RUBIO'S RESTAURANTS, INC.
                           DEFERRED COMPENSATION PLAN
                           FOR NON-EMPLOYEE DIRECTORS

         As an outside director of Rubio's Restaurants, Inc. ("Company") you
have the right to defer all or a portion of your annual retainer and meeting
fees (including fees received for your service on a committee of the Board)
pursuant to the "Deferral Program." Under the Deferral Program you may defer
your fees into either a "Cash Account" under the Company's Deferred Compensation
Plan for Non-Employee Directors or into deeply discounted options under the
Company's 1999 Stock Incentive Plan ("Stock Plan").

Cash Deferral

         Any deferrals into cash will be credited to the Cash Account which will
accrue earnings at an annual rate of 2% above the prime lending rate. At the
time you make your election you must choose the dates on which your cash benefit
will be distributed to you. Your distributions will be made on options are the
later of the January 15 of the year following the date your board service
terminates or six months from the date of termination. Alternatively, you may
elect to be paid in up to ten (10) annual installments after your board service
terminates.

Stock Option Deferral

         You may also elect to allocate your deferral to the acquisition of
deeply discounted stock options. The effect of the discount is that your price
to exercise the options is 33-1/3% of the fair market value of the stock on the
option grant date. The number of shares is determined by dividing the amount of
the retainer fee deferred to acquire the deeply discounted options by 66-2/3% of
the fair market value of a share of stock at the time of the option grant.

         The details of the stock option alternative are described in the
Company's prospectus for the Stock Plan's "Automatic Grant Program and Director
Fee Option Grant Program." One advantage of the stock option alternative over
the Cash Account is that you have more flexibility in monetizing your deferral.
Under the Cash Account, for tax reasons you have to irrevocably elect at the
time you make an election to defer when you will receive distributions of your
Cash Account. However, with a stock option you can choose your exercise date at
any time, provided you exercise within 10 years of the date of grant and within
3 years of the date your board service ends.

Time of Deferral

         Your annual retainer fee is typically allocated to the Cash Account or
used to acquire stock on the first day in January for the year in which the fees
are to be earned. However, for elections made between March 6, 2003 and June 30,
2003, the deferral will be made on the later of April 10, 2003 or 30 days after
the election (or following business day). If you do not make an election by June
30, 2003, you may not defer any portion of 2003 annual retainer fees. If your
fees are not earned for some reason, you will forfeit the cash or options
attributable to the unearned portion.

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         Your individual meeting fees are typically allocated to the Cash
Account or used to acquire stock in the same percentages as your annual retainer
fee at the end of each calendar quarter. However for elections made between
March 6, 2003 and April 10, 2003, the deferral shall be made on April 10, 2003
for meeting fees earned between the date of the election and April 10, 2003.

Election

         For 2003, you may make an election at any time prior to June 30, 2003.
For future years your election must be made prior to the beginning of the year.
If you decide to change your election in any way, the change will generally be
effective for fees otherwise payable in the calendar year following the date you
make the change. However, if you elect to discontinue, your discontinuance will
be effective immediately and the earliest you can begin making new deferrals
will be the beginning of the following calendar year.

         Once you make an election, the investment of any fees pursuant to that
election is irrevocable. For example, if you elect to have 100% of your fees
deferred into the Cash Account, those deferred fees and accumulated earnings may
not be used to acquire stock options under the stock option alternative.
However, you can change your election so that future deferrals can go into the
stock option alternative.

Taxes and Social Security

         Your deferral will permit you to defer federal (and most state) income
taxes until the date you actually receive the cash (either from a distribution
of cash or the exercise of a stock option, depending on how you invest your
deferral as described below). However, you should note how your deferral will be
treated for Social Security purposes. First, you will have to pay
self-employment tax with respect to Social Security at such later time as when
you are actually taxed on the deferral (again, depending on how you elect to
invest the deferral - when you are paid in cash or exercise the option). Second,
if you are receiving Social Security benefits now or during any year in which
you would have received the fees had you not deferred them, the amount of the
deferral will still be treated as work-related income which could reduce your
actual Social Security benefits. You should determine what effect, if any, this
nuance in the Social Security law has on your benefits.

Examples

         Here is an example: assume you elect to have 100% of your remaining
2003 fees deferred and you elect that 50% be invested in the Cash Account and
50% be used to require stock options. Assume that your remaining annual fees in
2003 are $10,000 and that the Company stock price per share on the date of grant
is $4.50.

         On your behalf, $5,000 will be credited to your Cash Account. It will
earn an annual rate of 2% above the prime lending rate and will be payable in
accordance with your election.

         You will also be granted a stock option. PLEASE REMEMBER THAT A FORM 4
MUST BE FILED ON YOUR BEHALF WITHIN TWO (2) DAYS OF GRANT. You will receive an
option to purchase 1,666 shares at an exercise price of $1.50. With an embedded

                                      -2-

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value of $3.00 per share, these 1,666 shares (rounded down) will have an
aggregate embedded value equal to your $5,000 deferral to the stock option
alternative.

         Assume for following years you only want 80% of your fees to be
deferred and of that, your 80% is to be allocated to the stock option
alternative. Assume you make your election prior to January, 2004. For years
following 2003 (until you subsequently change your election), the option grant
coming from your annual retainer fee shall be made and priced as of the first
trading day in January. Assume the per share stock price on the first trading
day in January, 2004 is $6 and assume your total annual director fees for 2004
are $15,000.

         Thus, your election to defer will be for $12,000. Of that amount,
$2,400 (20% of $12,000) will be credited to the Cash Account and $9,600 (80% of
$12,000) will be allocated to the acquisition of stock options. Thus, on the
first trading day in January, 2004 you will be granted 2,400 options at an
exercise price of $2 per share.

         With respect to your individual meeting fees, at the end of each
calendar quarter you will have the same percentages applied to your meeting fees
that applies to your annual retainer fee.

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                                                                   Exhibit 10.53

                              [Rubio's Letterhead]

October 31, 2003

Mr. Tim Hackbardt
[address deleted]
Mission Viejo, CA 92691

Dear Tim:

I am pleased to confirm our offer of employment made to you for the position of
Vice President, Marketing for Rubio's Restaurants, Inc. (Rubio's) reporting
directly to me under the terms and conditions outlined below:

Start Date: To be mutually agreed upon, and as soon as feasible, but no later
than November 17, 2003.

Base Salary: An annual rate of $195,000, paid biweekly at a rate of $7,500 and
subject to withholdings and deductions as required by law. Your salary will be
reviewed annually and may be adjusted based on such review.

Forfeiture Bonus: To offset bonuses that you may be forfeiting when leaving Del
Taco, Rubio's will give you a bonus of $30,000 paid out in March 2004.

Bonus Plan: Based on current earnings performance, we do not expect to payout
annual bonuses for 2003. Although we do not expect significant changes to be
made to the 2004 bonus plan the terms are not yet finalized and approved by the
Compensation Committee of the Board of Directors. In the Rubio's Fiscal 2003
Executive Bonus Plan vice presidents are eligible to earn up to 25% of base
salary if pretax income equaled or exceeded the budgeted range for bonus. In
addition, the plan allows for 10% of pretax income above the EPS bonus target
range to be pooled and allocated to executives on a pro-rata basis. The bonus
plan will be adjusted if changes are made to GAAP or accounting principles
permitted by SEC rules. For calendar year 2005 and later calendar years, you
will participate in the Executive Bonus Plans developed for those years as
ultimately approved by the Compensation Committee.

You may also participate in other bonus or incentive plans adopted by Rubio's
that are applicable to your position. Bonus criteria for each subsequent year
will be mutually determined within a reasonable period of time at the close of
each fiscal year.

Stock Options: Stock Options for 75,000 shares of Rubio's Restaurants, Inc.
common stock, pursuant and subject to Rubio's 1999 Stock Incentive Plan, will be
granted to you on your Start

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Mr. Tim Hackbardt
October 31, 2003
Page 2 of 5

Date at the day's closing market price. They will vest at 20% at the end of the
first year and each month thereafter for 48 months on a pro-rata basis.

Automobile: Car allowance $450 per month plus $0.15 per mile (exclusive of
commuter mileage).

Vacation: 15 days per year accrued pro-rata on a monthly basis.

Health Plans: You will be eligible to participate in Rubio's medical (including
Exec-U-Care), dental, employee assistance program (EAP), vision, short and long
term disability, and life insurance programs (executive level term life
insurance is two times annual salary) effective the first day of the month
following two consecutive months of service. You will be reimbursed for any
COBRA premiums incurred during this waiting period. Executives contribute
approximately 10% of premium costs. Monthly medical contributions are between
$60.00 (HMO) and $125.00 (PPO) for family coverage. The Company offers an
executive reimbursement with a $5,000 cap and a Flexible Spending Account for
tax deferred contributions for medical and childcare expenses.

Professional Reimbursements: You will be reimbursed for reasonable expenses
necessarily incurred in the performance of your duties, including, but not
limited to, cell phone service, long distance telephone service, facsimile and
duplication services, overnight and courier services, travel expenses, expenses
related to attendance at industry conferences and membership in industry
associations.

401(k) Plan: You will be eligible to participate in Rubio's 401(k) Plan
effective the first day of the month following two consecutive months of
service. Currently, after one year of service you will be matched at a rate of
25% of the first 6% of the salary you contribute. (Although our 401(k) plan
allows for up to 15% of compensation as an employee's contribution, you should
be aware that our most recent discrimination testing has limited actual
contributions for highly paid executives to approximately 1%.)

Meal Discount: You and your family will be eligible for a meal discount of 50%
at Rubio's Restaurants.

Relocation of Household Goods: You will be relocating to the San Diego area by a
mutually agreed upon time. You will be reimbursed for all applicable moving
expenses up to $100,000 which is expected to cover all reasonable relocation
costs for you and your family (i.e., home sale, home purchase, movement of
household goods, etc.). However, since the distance between your current home
and the Restaurant Support Center is minimal, temporary housing and related
expenses would be excluded. Amounts above the allowable IRS reimbursements for
relocation will be grossed-up for taxes at the applicable state and federal tax
rates. You will need to submit relocation expense receipts to Rubio's Controller
who will work with you to mitigate the tax impact for both you and the Company.

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Mr. Tim Hackbardt
October 31, 2003
Page 3 of 5

Re-payment of Relocation Expenses: Should you resign from your position on a
voluntary basis within the first twelve (12) months of employment you agree to
reimburse Rubio's for 100% of your submitted relocation expenses. Should you
resign after twelve (12) months, you agree to reimburse Rubio's on a pro-rata
basis whereby your relocation expense debt would be reduced by 1/12 for each of
the next twelve (12) months you remain employed with Rubio's. After twenty-four
(24) months of consecutive employment no repayment of relocation expense would
be required.

Severance Benefits: While Rubio's does not have a formal severance policy, we
are offering the following: If your employment is terminated, without Cause or
upon Disability, as defined below, you will be paid, subject to signing our
standard release agreement, six (6) months of current salary if separation is
within the first twelve (12) months of employment and three (3) months of
current salary thereafter. All severance payments will be made in bi-weekly
installments and subject to all appropriate deductions and withholdings. In
addition, you will have continued enrollment in the health and welfare plans
(with the exception of the 401(k) plan as precluded by our Plan), including life
insurance, for the period of severance or until your eligibility under another
employer's group benefit plan, whichever event occurs first.

Disability: "Disability" means the medical determination that you are eligible
for benefits under the Company's long term disability insurance plan.

Cause: "Cause" means: (a) willful failure by you to substantially perform your
duties under this agreement, other than a failure resulting from your complete
or partial incapacity due to physical or mental illness or impairment (b)
conviction of or a plea of "guilty" or "no contest' 'to, a felony or crime
involving an act of moral turpitude, dishonesty, or misfeasance under the laws
of the United States or any state thereof; (c) refusal to follow, or material
neglect of, reasonable requests of the Company's Board of Directors or its
designee(s), if un-remedied following thirty (30) days' written notice; (d)
conduct that substantially interferes with or damages the standing, reputation,
financial condition or prospects of the Company, after you have been given ten
(10) days' notice and an opportunity to respond; or (e) a material or willful
violation of a federal or state law or regulation applicable to the business of
the Company. If your employment is terminated without Cause you shall be paid
the Severance Benefits described above under Severance Benefits.

At-Will Employment: Employment with Rubio's Restaurants, Inc. is not for a
specific term and can be terminated by you or the Company at any time and for
any reason, with or without cause or advanced notice. The At-Will nature of your
employment described in this offer letter shall constitute the entire agreement
between you and Rubio's concerning the nature and duration of your employment
and the circumstance under which you or the Company may terminate the employment
relationship. No oral statement by any person can change the At-Will nature of
your employment with Rubio's.

Although your job duties, title, and compensation benefits may change over time,
the At-Will term of your employment with Rubio's can only be changed in writing,
signed by you and the

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Mr. Tim Hackbardt
October 31, 2003
Page 4 of 5

President or Chairman of the Company, and which expressly states the intention
to change the At-Will term of your employment. Any prior representations to the
contrary are superseded by the terms of this offer.

Confidentiality and Non-Solicitation: One of the conditions of your employment
with Rubio's is the maintenance of the confidentiality of Rubio's proprietary
and confidential information, You agree during and after the period of your
employment with Rubio's not to use, directly or indirectly, any confidential
information other than in the course of performing duties as an employee of
Rubio's. You further agree that during your term of employment and for two (2)
years thereafter, not to encourage or solicit, directly or indirectly, any
employee of Rubio's to leave the Company for any reason. You will be required to
execute the Company's Proprietary Information and Inventions Agreement on your
first day of employment.

Company Policy: As an employee of Rubio's, you will be required to comply with
all Company policies and procedures. In particular, you will be required to
familiarize yourself with and to comply with Rubio's policy prohibiting
harassment and discrimination and the policy concerning drugs and alcohol.
Violations of these policies may lead to immediate termination of employment.

Arbitration: Rubio's maintains a policy of mandatory arbitration. This means
that any and all disputes that you may have with Rubio's, or any of Rubio's
other employees, which arise out of your employment, will be resolved through
final and binding arbitration. This includes, without limitation, disputes
relating to offer letters, your employment by Rubio's or the termination
thereof, claims for breach of contract, claims for breach of covenant of good
faith and fair dealing, any claims of discrimination or harassment, any claims
under any federal, state or local law or regulation now in existence or
hereinafter enacted and amended from time to time concerning in any way the
subject of your employment with Rubio's or your termination. You agree that
arbitration shall be instead of any civil lawsuit and you waive your right to
pursue any and all employment-related claims in court.

This letter supersedes any prior agreements, representations or promises of any
kind, express or implied, concerning your employment and it constitutes the full
and complete agreement between you and the Company.

The foregoing offer of employment with Rubio's is contingent upon your
successful completion of a background and reference checks, pre-employment drug
and alcohol screen, your execution of this letter, the Company's Proprietary
Information and Inventions Agreement, the Company's Arbitration Agreement and
all other forms presented at the time of hire. This offer is further contingent
upon the Company's verification of the information provided to us in your
application form, resume and attachments, if any.

The existence and terms of this offer letter should remain confidential except
for disclosure to your spouse, attorneys, accountants and other tax or financial
professional advisors to whom the disclosure is necessary.

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Mr. Tim Hackbardt
October 31, 2003
Page 5 of 5

Tim, we are very excited about your joining our learn. We are confident that you
have much to contribute to the success of Rubio's. The strength of our
organization, the quality and experience of our personnel, and your presence
will facilitate this success.

If you wish to accept our offer of employment on the terms described herein,
please acknowledge your acceptance by signing below and returning the original
to me within three (3) business days. A copy of this letter has been enclosed
for your records. If you have any questions, please do not hesitate to contact
me by calling (760) 602-3625.

Sincerely,

/s/ Sheri Miksa

Sheri Miksa
President and Chief Operating Officer
Rubio's Restaurants, Inc.

I have read, do understand and accept the terms and conditions of the above
offer of employment.

Accepted: /s/ Tim Hackbardt                                   Date: 11/3/2003
          ----------------------------
              Tim Hackbardt

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