Document:

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                                                                   EXHIBIT 10(u)

                              FOURTH AMENDMENT TO
                           J. ALEXANDER'S CORPORATION
                         EMPLOYEE STOCK OWNERSHIP PLAN

         WHEREAS, effective as of January 1, 1992, Volunteer Capital
Corporation, a Tennessee corporation, now J. Alexander's Corporation (the
"Company"), adopted the Volunteer Capital Corporation Employee Stock Ownership
Plan, which was subsequently renamed the J. Alexander's Corporation Employee
Stock Ownership Plan (the "Plan"); and

         WHEREAS, the Company desires to amend the Plan to make certain
technical changes required by changes in the federal tax law; and

         WHEREAS, the Company desires to remove for each participant in the
Plan (a "Participant") who is not a corporate officer of the Company the
limitation that a Participant with a vested benefit greater than $10,000 who
terminates employment must wait until the third plan year following the plan
year of termination to elect to receive a distribution; and

         WHEREAS, the Company desires to permit the Plan to pay a third-party
(instead of to the Participant or Beneficiary) such portion of a Participant's
benefit under the terms of the Plan as shall be specified by a judgment or
settlement issued or entered into with respect to such a participant having
been convicted of a crime involving the Plan or subject to a civil judgment or
settlement between the Secretary of Labor and the Participant in connection
with a violation of the fiduciary provisions of ERISA.

         NOW, THEREFORE, effective on January 1, 1998, except as otherwise
indicated, the Company amends its Plan in the following respects:

         1. Effective January 1, 1997, Section 2.1(gg) is amended to provide as
follows:

                  (gg) Highly Compensated Employee: A Highly Compensated
         Employee for the purposes of determinations regarding the current Plan
         Year is any Employee who:

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                           (1) was a 5-Percent Owner at any time during the
                  Plan Year or the preceding Plan Year; or

                           (2) received Section 415 Compensation (as adjusted
                  below) from the Employer in excess of $80,000 for the
                  preceding Plan Year and, if elected by the Employer for a
                  Plan Year in accordance with Section 414(q)(1)(B)(ii) of the
                  Code, was in the top-paid group of the Employer for the
                  preceding Plan Year. The "top-paid group" referred to in the
                  preceding sentence consists of the 20% most highly
                  compensated employees of the Employer ranked on the basis of
                  compensation received during the next prior Plan Year. For
                  the purposes of determining the number of employees in the
                  "top-paid group" referred to in the preceding sentence,
                  employees described in Code Section 414(q)(5) and Q&A 9(b) of
                  Section 1.414(q)-1T of the Treasury Regulations are excluded.

                           In making the above determination, "Section 415
                  Compensation" shall include salary reductions or elective
                  deferrals under the Savings Incentive Plan or any other plan
                  pursuant to Section 401(k) of the Code and salary reductions
                  or elective deferrals under the Flexible Benefits Plan or
                  other plan pursuant to Section 125 of the Code. The $80,000
                  amount is indexed and shall be adjusted pursuant to Treasury
                  Regulations. Furthermore, solely for purposes of this Section
                  2.1(gg), "Employer" shall include any Affiliated Company.

         2. Effective January 1, 1997, Section 2.1(qq) is amended to provide as
follows:

                  (qq) Plan: J. Alexander's Corporation Employee Stock
         Ownership Plan, as set forth herein and amended from time to time.

         3. Section 2.1(uu) is amended to provide as follows:

                  (uu) Section 415 Compensation: The total "wages" paid for
         employment by the Employer (and all Affiliated Companies) to or for
         the benefit of a Participant during the Plan Year (as shown on the
         Form W-2 filed for federal income tax purposes). For purposes of this
         determination, "wages" shall mean wages as defined in withholding at
         the source, and all other payments of compensation to the Employee by
         the Employer for which the Employer is required to furnish the
         Employee a written statement under Sections 6041(d) and 6051(a)(3) of
         the Code, but determined without regard to any rules that limit the
         remuneration included in wages based on the nature or location of the
         employment or the services performed, and excluding from wages amounts
         paid or reimbursed by the Employer for moving expenses incurred by an
         Employee to the extent that at the time of the payment it is
         reasonable to believe that these amounts are deductible by the
         Employee under Section 217 of the Code. The term "Section 415
         Compensation" shall include salary reductions or elective deferrals,
         as defined in Section 402(g)(3) of the Code, under the Savings
         Incentive Plan or any other plan pursuant to Section 401(k) of the
         Code and any amount which is contributed or deferred by the Employer
         at the election of the Employee and which is not includable in the
         gross income of the Employee by reason of Section 127 or 457 of the
         Code.

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         4.       The first paragraph of Section 4.3(b) is amended to provide
                  as follows:

                  (b) After termination of employment with Employer and with all
         Affiliated Companies (other than for disability, normal retirement,
         early retirement, delayed retirement, or death), but no later than the
         end of the Plan Year following the Plan Year in which such termination
         occurs, the Participant shall be entitled to receive a "cashout" of
         such Participant's "vested benefit" as determined pursuant to Section
         6.8; provided, however, that corporate officers of the Company may
         receive the cashout referred to in this Section 4.3(b) only if such
         "vested benefit" is not greater than $10,000. Distribution to a
         corporate officer of the Company of a vested benefit greater than
         $10,000 shall occur at the time provided in the last paragraph of this
         Section 4.3(b). Such cash out of the vested benefit shall not be made
         in the absence of written consent thereto by the Participant if the
         vested benefit (as determined pursuant to Section 6.8) attributable to
         Employer contributions is greater than $5,000. For the sole purpose of
         determining whether the vested benefit is less than $5,000 or $10,000,
         as the case may be, Company Stock in the Participant's Company Stock
         Sub-Account shall be valued at its market value on the first trading
         date of the Plan Year during which the distribution is scheduled to
         occur. A Participant having a vested benefit of zero shall be deemed
         to have been cashed out hereunder on the date of his termination of
         employment. Upon such a payment (or deemed payment) of the
         Participant's entire vested benefit, his nonvested Account balance
         shall become a Forfeiture upon the date of the cash out. Such
         Forfeiture shall then be allocated to the Accounts of other
         Participants as provided in Section 5.2.

         5. The last paragraph of Section 4.3(b) is amended to provide as
follows:

                  If a distribution is not made at the time specified in the
         first paragraph of this Section 4.3(b) because the Participant is a
         corporate officer of the Company and such Participant's vested benefit
         is greater than $10,000, as determined by reference to the market
         value of the Company Stock on the first trading date of the Plan Year
         during which the distribution would have been made if such
         Participant's vested benefit had been less than $10,000, such
         Participant shall be entitled to elect to receive a distribution of
         his vested benefit during the third Plan Year following the Plan Year
         during which he terminated employment with the Employer and with all
         Affiliated Companies.

         6. Effective January 1, 1997, Section 9.6 is amended to provide as
follows:

                  9.6 Leased Employees: Notwithstanding any other provisions
         of the Plan, for purposes of determining the number or identity of
         Highly Compensated Employees and for purposes of the pension
         requirements of Section 414(n)(3) of the Code, the employees of the
         Employer shall include "leased employees." The term "leased employees"
         means any persons who are not employees of the Employer and who (i)
         provide services to the Employer pursuant to an agreement between the
         Employer and any other person, (ii) perform such services for the
         employer on a substantially full-time basis for a period of at least
         one calendar year, and (iii) perform such services under the primary
         direction or control by the Employer.

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         7. Effective October 13, 1996, as to affected Employees who are
reemployed on or after December 12, 1994, Section 9.9 is added to provide as
follows:
                  9.9 Qualified Military Service: Notwithstanding any
         provision of this Plan to the contrary, contributions, benefits, and
         service credit with respect to qualified military service will be
         provided in accordance with Section 414(u) of the Code.

         8. Section 9.10 is added to provide as follows:

                  9.10 Certain Judgments, Orders, Decrees and Settlements:
         Effective for judgments, orders and decrees issued, and settlements
         entered into, on or after August 5, 1997, the Plan shall be permitted
         to pay a third-party (instead of to the Participant or Beneficiary)
         such portion of the Participant's benefit under the Plan as shall be
         specified by such a judgment, order or decree issued, or settlement
         entered into, in connection with:

                           (a) the Participant's conviction for a crime
                  involving the Plan; or

                           (b) a civil judgment (or consent or decree) entered
                  by a court in an action brought in connection with a
                  violation of the fiduciary provisions of ERISA; or

                           (c) a settlement agreement between the Secretary of
                  Labor and the Participant in connection with a violation of
                  the fiduciary provisions of ERISA.

                  To be effective, the court order establishing such liability
         must require that the Participant's benefit under the Plan be applied
         to satisfy such liability. If the Participant is married at the time,
         his benefit under the Plan is offset to satisfy the liability. Spousal
         consent to such offset is required unless the spouse is also required
         to pay an amount to the Plan in the judgment, order, decree or
         settlement, or the judgment, order, decree or settlement provides a
         fifty percent (50%) survivor annuity for the spouse.

         IN WITNESS WHEREOF, J. Alexander's Corporation has caused this

amendment to be executed this 30th day of December, 1998, effective as of the

dates indicted herein, by its duly authorized officers.

                                 J. ALEXANDER'S CORPORATION

                                 By: /s/ J. Michael Moore
                                     ------------------------------------------
                                 Title: Vice President of Human Resources and
                                         Administration
Attest:

/s/ Janice M. Jackson
--------------------------------

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                                                                  EXHIBIT 10(v)

                       SECOND AMENDMENT TO LOAN AGREEMENT

         THIS SECOND AMENDMENT TO LOAN AGREEMENT ("Second Amendment") entered
into this 30th day of March, 2000, by and among J. ALEXANDER'S CORPORATION
(f/k/a VOLUNTEER CAPITAL CORPORATION), J. ALEXANDER'S RESTAURANTS, INC. (f/k/a
TOTAL QUALITY MANAGEMENT, INC.), Tennessee corporations (collectively referred
to as the "Borrower"), and BANK OF AMERICA, N.A., SUCCESSOR TO NATIONSBANK,
N.A., SUCCESSOR TO NATIONSBANK OF TENNESSEE, N.A., a national banking
association ("Lender").

                                   WITNESSETH

         WHEREAS, Borrower and Lender entered into that certain Loan Agreement
dated June 30, 1995, as amended by that Amendment to Loan Agreement dated March
27, 1998 ("Loan Agreement") and that Line of Credit Note dated June 30, 1995 in
the maximum principal amount of Thirty Million and 00/100 Dollars
($30,000,000.00), as amended and restated by that Line of Credit Note dated
March 27, 1998 in the maximum principal amount of Twenty Million and 00/100
Dollars ($20,000,000.00), and as further amended and restated by that Renewal
Line of Credit Note of even date herewith in the amount of Twenty Million and
00/100 Dollars ($20,000,000.00) ("Line of Credit Note"); and

         WHEREAS, Volunteer Capital Corporation has changed its name to J.
Alexander's Corporation and Total Quality Management, Inc. has changed its name
to J. Alexander's Restaurants, Inc.; and

         WHEREAS, Borrower and Lender desire to amend the Loan Agreement as
provided herein; and

         NOW, THEREFORE, for the mutual promises contained herein and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:

         1.       Sections 1.b. & c. of the Loan Agreement shall be deleted in
their entirety and in lieu thereof shall read the following:

                  b.       Interest Rate. From the date hereof until the stated
         maturity of the Note, interest shall accrue at the LIBOR Rate plus a
         spread of 2.0%, 2.25%, 2.5% or 3.0% depending on the Senior Debt
         Coverage Ratio ("SDCR") as further provided herein. If the SDCR is
         less than or equal to 2.75 but greater than 2.5, the LIBOR spread will
         be 3.0%; if the SDCR is less than or equal to 2.5 but greater than
         2.25, the LIBOR spread will be 2.5%; if the SDCR is less than or equal
         to 2.25 but greater than 2.0, the LIBOR spread will be 2.25%; if the
         SDCR is less than or equal to 2.0, the LIBOR spread will be 2.0%:

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         i.       As used in this Agreement, Lender's "Prime Rate" is the
         fluctuating rate of interest established by Lender from time to time
         as its "Prime Rate", whether or not such rate shall be otherwise
         published. Such Prime Rate is established by Lender as an index or
         base rate and may or may not at any time be the best or lowest rate
         charged by Lender on any loan. If at any time or from time to time the
         Prime Rate increases or decreases, then the rate of interest hereunder
         shall be correspondingly increased or decreased effective on the day
         on which any such increase or decrease of the Prime Rate changes,
         unless otherwise herein provided. In the event that Lender, during the
         term hereof, shall abolish or abandon the practice of establishing a
         Prime Rate, or should the same become unascertainable, Lender shall
         designate a reasonably comparable reference rate which shall be deemed
         to be the Prime Rate.

         ii.      For purposes hereof, the Senior Debt Coverage Ratio, ("SDCR")
         is defined as Senior Funded Debt (as defined herein) divided by
         EBITDA, all measured on a trailing four-quarter basis. Senior Funded
         Debt means all long-term debt, the current portion of long-term debt,
         obligations under Leases (both long-term and current), any notes
         payable or other borrowed money, but Senior Funded Debt does not
         include any subordinated or convertible debt.

         iii.     For purposes hereof, the "LIBOR Rate" shall mean the rate of
         interest based on the Eurodollar Daily Floating Rate. The Eurodollar
         Daily Floating Rate is a floating rate of interest and will change on
         and as of the date of a change in the Eurodollar Daily Floating Rate.
         The period of time during which the Eurodollar Daily Floating Rate
         shall be applicable shall be a Eurodollar Daily Floating Rate Interest
         Period. "Eurodollar Daily Floating Rate" shall mean the fluctuating
         rate of interest equal to the rate of interest per annum (rounded
         upwards, if necessary, to the nearest 1/100 of 1%) appearing on
         Telerate Page 3750 (or any successor page) as the one month London
         interbank offered rate for deposits in Dollars at approximately 11:00
         A.M. (London time) on the second preceding Business Day, as adjusted
         from time to time in Bank's sole discretion for then applicable
         reserve requirements, deposit insurance assessment rates and other
         regulatory costs. If for any reason such rate is not available, the
         term "Eurodollar Daily Floating Rate" shall mean the fluctuating rate
         of interest equal to the rate of interest per annum (rounded upwards,
         if necessary, to the nearest 1/100 of 1%) appearing on Reuters Screen
         LIBO Page as the one month London interbank offered rate for deposits
         in Dollars at approximately 11:00 A.M. (London time) on the second
         preceding Business Day, as adjusted from time to time in Bank's sole
         discretion for then applicable reserve requirements, deposit insurance
         assessment rates and other regulatory costs; provided, however, if
         more than one rate is specified on Telerate Page 3750 or on Reuters
         Screen LIBO Page, the applicable rate shall be the arithmetic mean of
         all rates on that page. Interest hereunder shall be calculated based
         upon a 360-day year and actual days elapsed. If the adoption of or
         change in any applicable legal requirement or any change in the
         interpretation or administration thereof by any governmental authority
         or compliance by the Lender with any request or directive (whether or
         not having the force of law)

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         from any central bank or other governmental authority, shall at any
         time as a result of any portion of the principal balance of this Note
         being maintained on the LIBOR Rate:

                  A.       Subject the Lender to any tax (including without
         limitation any United States Interest Equalization Tax), levy, impost,
         duty, charge, fee (collectively "Taxes"), other than income and
         franchise taxes of the United States and its political subdivisions;
         or

                  B.       Change the basis of taxation on payments due from
         the Borrower to the Lender under any LIBOR Rate Borrowing (otherwise
         than by a change in the rate of taxation of the overall net income of
         the Lender); or

                  C.       Impose, modify, increase or make applicable any
         reserve requirement, special deposit requirement or similar
         requirement (including, but not limited to, state law requirements and
         Regulation D) against assets held by the Lender, or against deposits
         or accounts in or for the account of the Lender, or against any loans
         made by the Lender, or against any other funds, obligations or other
         property owned or held by Lender; or

                  D.       Impose on the Lender any other condition regarding
         any LIBOR Rate Borrowing;

         and the result of any of the foregoing is to increase the cost to the
         Lender of agreeing to make or of making, renewing or maintaining such
         borrowing on the basis of the LIBOR Rate, or reduce the amount of
         principal or interest received by the Lender, then, upon demand by the
         Lender, the Borrower shall pay to the Lender, from time to time as
         specified by the Lender, additional amounts which shall reasonably
         compensate the Lender for such increased cost or reduced amount
         relating to LIBOR Rate Borrowings outstanding after Lender's demand.
         The Lender's reasonable determination of the amount of any such
         increased cost, increased reserve requirement or reduced amount shall
         be conclusive and binding, absent manifest error.

         iv.      In no event shall the interest rate charged on the Line of
         Credit exceed the maximum rate allowed under applicable law. Any
         amounts paid in excess of the maximum lawful rate shall be applied to
         reduce the principal amount of Borrower's obligations to Lender or
         shall be refunded to Borrower, at Lender's election. After maturity
         (by acceleration or otherwise), the principal amount under the Line of
         Credit shall bear interest at the rate of interest in effect
         immediately before maturity plus three percent (3%).

                  c.       Payments. Payment of all obligations arising under
         the Line of Credit shall be made as follows:

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                           (1)      Interest. Interest on the outstanding
                  principal balance under the Line of Credit shall be paid in
                  arrears on the first (1st) day of each month beginning on
                  April 1, 2000.

                           (2)      Voluntary Prepayment. Voluntary prepayments
                  of principal or accrued interest may be made, in whole or in
                  part, at any time without penalty.

                           (3)      Mandatory Prepayment. Borrower must
                  immediately prepay any amount by which the principal balance
                  of the Line of Credit exceeds $20,000,000.

                           (4)      All Amounts Due. All remaining principal,
                  interest and expenses outstanding under the Line of Credit
                  shall become due July 1, 2001, unless the borrower exercises
                  its option to extend for a seven (7) year term, in which case
                  all remaining principle, interest and expenses outstanding
                  under the Line of Credit shall become due July 1, 2008.

                           (5)      Conversion to Term Loan. Subject to the
                  provisions contained herein, Borrower has the option to
                  convert this Line of Credit Note to a Term Note. Providing
                  that Borrower is not then in default hereunder, Borrower may
                  make a written election to convert the Line of Credit Note to
                  a Term Note any time prior to July 1, 2001. The written
                  election must be delivered to Payee at least thirty (30) days
                  prior to the conversion date. After receipt of the election,
                  Payee has sole discretion to determine what collateral will
                  be required of Maker to provide security for the term loan.
                  Payee will notify Maker whether or in what manner the term
                  loan shall be securitized within fifteen (15) days after
                  receiving the election. Upon conversion, there will be a
                  conversion fee equal to one-quarter (1/4) of one percent (1%)
                  of the then outstanding principal balance. The unpaid
                  principal balance will then be repayable in eighty-four (84)
                  equal monthly installments of principal with the first
                  principal payment due thirty (30) days following the
                  conversion date. Interest will continue to be paid monthly at
                  the same time as the principal payment is due. Interest shall
                  accrue on the Term Note at the Bank of America, N.A. Prime
                  Rate, as it may change from time to time or the LIBOR Rate
                  discussed above (subject to the restriction on the number of
                  LIBOR borrowings discussed above) or at a fixed rate to be
                  determined by Payee at the time of receiving the written
                  election. Maker shall specify the interest rate option (Prime
                  Rate, LIBOR Rate or fixed) to be used in the conversion
                  election.

                  2.       Section 30.l of the Loan Agreement is hereby deleted
         in its entirety and in lieu thereof shall read as follows:

                  l.       Capital Expenditures. Make capital expenditures
                  (including capitalized leases) during fiscal year 2000 and
                  during each fiscal year thereafter exceeding, in the
                  aggregate, $10,000,000.00 per fiscal year.

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                  3.       Section 31.e of the Loan Agreement is hereby deleted
in its entirety and in lieu thereof shall read as follows:

                  e.       Profit/Loss. For any 2 consecutive fiscal quarters,
                           Borrower's cumulative pretax loss shall not exceed
                  $250,000, and Borrower's pretax profit shall exceed $500,000
                  for the fiscal year ending December 31, 2000 and each fiscal
                  year thereafter.

                  4.       Except as amended in this Second Amendment, the
provisions contained in the Loan Agreement shall remain in full force and
effect.

         IN WITNESS WHEREOF, the parties have executed this document through
authorized agents on the day and date first above written.

                                 BANK OF AMERICA, N.A., SUCCESSOR TO
                                 NATIONSBANK, N.A., SUCCESSOR TO
                                 NATIONSBANK OF TENNESSEE, N.A.

                                 By: /s/ William H. Diehl
                                     -------------------------------------------

                                 Title: Senior Vice President
                                        ----------------------------------------

                                 J. ALEXANDER'S CORPORATION
                                 (f/k/a VOLUNTEER CAPITAL CORPORATION)

                                 By: /s/ R. Gregory Lewis
                                     -------------------------------------------

                                 Title: Vice President and Chief
                                          Financial Officer
                                        ----------------------------------------

                                 J. ALEXANDER'S RESTAURANTS, INC.
                                 (f/k/a TOTAL QUALITY MANAGEMENT, INC.)

                                 By: /s/ R. Gregory Lewis
                                     -------------------------------------------

                                 Title: Vice President - Finance
                                        ----------------------------------------

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