Document:

<PAGE>   1
                                                                    EXHIBIT 10.1
                                                                  EXECUTION COPY

                  FIRST AMENDMENT, dated as of November 27, 2000 ("Amendment"),
to the AMENDED AND RESTATED CREDIT AGREEMENT, dated as of October 15, 1999 (as
amended and waived prior to the date hereof, the "Credit Agreement"), among J.L.
FRENCH AUTOMOTIVE CASTINGS, INC., a Delaware corporation (the "US Borrower"),
AUTOMOTIVE COMPONENTS INVESTMENTS LIMITED, a private limited company
incorporated under the laws of England and Wales ("English Bidco"), J.L. FRENCH
UK LIMITED (f/k/a MORRIS ASHBY LIMITED), a private limited company incorporated
under the laws of England and Wales (in its capacity as the borrower of Pounds
Sterling under the Credit Agreement, the "English Borrower" and in its capacity
as the borrower of euro under the Credit Agreement, the "Euro Borrower"), the
several banks and other financial institutions from time to time parties thereto
(the "Lenders"), BANK OF AMERICA N.A., as syndication agent for the Lenders (in
such capacity, the "Syndication Agent"), CHASE MANHATTAN INTERNATIONAL LIMITED,
as administrative agent for the English Lenders (in such capacity, the "English
Agent") and as administrative agent for the Euro Lenders (in such capacity, the
"Euro Agent"), and THE CHASE MANHATTAN BANK, a New York banking corporation
("Chase"), as administrative agent for the Lenders (in such capacity, the
"Administrative Agent").

                              W I T N E S S E T H :

                  WHEREAS, pursuant to the Credit Agreement, the Lenders have
extended term loans and made available revolving credit commitments to the
Borrowers on the terms set forth in the Credit Agreement;

                  WHEREAS, the Borrowers have requested that the Lenders amend
certain provisions to the Credit Agreement; and

                  WHEREAS, the parties hereto wish to amend the Credit
Agreement, but only upon the terms and subject to the conditions set forth
herein;

                  NOW, THEREFORE, the parties hereto hereby agree as follows:

Section 1.        DEFINITIONS.

                  1.1 Defined Terms. Terms defined in the Credit Agreement and
used herein shall have the meanings given to them in the Credit Agreement.

Section 2.        AMENDMENTS.

                  2.1 Applicable Margin. The definition of "Applicable Margin"
set forth in subsection 1.1 of the Credit Agreement is hereby amended as
follows:

                           (a) The Applicable Margin for US Tranche B Term Loans
                  is hereby amended by deleting the figures "2.00%" set forth
                  under the column heading Base Rate Loans and "3.00%" set forth
                  under the column heading Eurocurrency Loans and B/As and
                  substituting in lieu thereof the figures "2.25%" and "3.25%",
                  respectively.

<PAGE>   2

                           (b) The first proviso clause is hereby deleted and
                  replaced with the following:

                  ; provided that in the event that the Leverage Ratio, as most
                  recently determined in accordance with subsection 8.1(b), is
                  as set forth in the relevant pricing grid and column heading
                  below for any quarterly period and so long as no Event of
                  Default has occurred and is then continuing, any such
                  Applicable Margin with respect to (i) US Tranche A Term Loans,
                  English Term Loans, US Sterling Term Loans and Revolving
                  Credit Loans (including Swing Line Loans) and Commitment Fee
                  shall be as provided in the relevant column heading of Pricing
                  Grid I and (ii) US Tranche B Term Loans shall be as provided
                  in the relevant column heading of Pricing Grid II, as provided
                  below:

                           (c) Immediately preceding the pricing grid, the
                  phrase "Pricing Grid I" shall be inserted.

                           (d) The first two tiers in Pricing Grid I are deleted
                  and replaced with the following:

<TABLE>
<CAPTION>

                                          Applicable
                                          Margin for             Applicable             Applicable
                                         Eurocurrency            Margin for             Margin for
Leverage Ratio                           Loans or B/As        Base Rate Loans         Commitment Fee
--------------                           -------------        ---------------         --------------
<S>                                      <C>                  <C>                     <C>

greater than 5.00 to 1.00                    3.25%                 2.25%                   0.50%

less than or equal to 5.00 to 1.00           3.00%                 2.00%                   0.50%
but greater than 4.50 to 1.00

less than or equal to 4.50 to 1.00           2.50%                 1.50%                   0.50%
but greater than 4.00 to 1.00

</TABLE>

                           (e) Directly below Pricing Grid I, the phrase
                  "Pricing Grid II" shall be inserted and followed by:

<TABLE>
<CAPTION>

                                                          Applicable
                                                           Margin for            Applicable
                                                          Eurocurrency           Margin for
                  Leverage Ratio                          Loans or B/As        Base Rate Loans
                  --------------                          -------------    ------------------------
<S>                                                       <C>              <C>

                  Greater than 5.00 to 1.00                   3.50%                 2.50%

                  less than or equal to 5.00 to 1.00          3.25%                 2.25%

</TABLE>

                           (f) The paragraph set forth under Pricing Grid II is
                  hereby amended by (i) deleting the phrase "and" which appears
                  after "US Sterling Term Loans" and

<PAGE>   3

                  substituting therefore a comma and (ii) adding the phrase
                  "and the US Tranche B Term Loans" after the phrase "US
                  Tranche A Term Loans".

                           (g) Clause (a) is hereby amended by (i) deleting the
                  phrase "and" which appears after "US Sterling Term Loans" and
                  substituting therefore a comma and (ii) adding the phrase "and
                  the US Tranche B Term Loans" after the phrase "US Tranche A
                  Term Loans".

                           (h) Clause (c) is hereby amended by (i) deleting the
                  figures "2.50%" and "1.50%" are substituting in lieu thereof
                  the figures "3.25%" and "2.25%", respectively, (ii) inserting
                  "(i)" immediately preceding the phrase "Revolving Credit
                  Loans" and (iii) inserting the following after the phrase
                  "subsection 2.3":

                  and (ii) US Tranche B Term Loans shall be 3.50% in the case of
                  Eurocurrency Loans and 2.50% in the case of Base Rate Loans

                  2.2 Mandatory Prepayments. The Required Lenders agree that the
proceeds of any sale and leaseback transaction may be retained by the US
Borrower and are not required to be applied to prepay Term Loans pursuant to
subsection 2.9(a) or (b) of the Credit Agreement.

                  2.3 Section 2 of the Credit Agreement is hereby amended by
adding the following new subsection 2.13:

                  2.13 Minimum Quarterly Availability. The US Borrower agrees
         that on the last day of each fiscal quarter ending during any period
         set forth below (a "Compliance Date") there shall be at least the
         Minimum Availability under the Revolving Credit Commitments set forth
         below for such day:

<TABLE>
<CAPTION>

                                    Period                               Minimum Availability
                                    ------                               --------------------
<S>                                                                      <C>

                  January 1, 2001 through March 31, 2001                      $15,000,000
                  April 1, 2001 through September 30, 2001                    $10,000,000
                  October 1, 2001 through March 31, 2002                      $15,000,000
                  April 1, 2002 through September 30, 2002                    $10,000,000
                  October 1, 2002 through December 31, 2002                   $15,000,000

</TABLE>

         The failure of the US Borrower to maintain the Minimum Availability set
         forth above for any Compliance Date shall not constitute a Default or
         Event of Default if the US Borrower causes such Minimum Availability to
         be achieved within five Business Days of such Compliance Date. As used
         herein, "Minimum Availability" shall mean the sum of the Available
         Revolving Credit Commitments under the Revolving Credit Commitments.

                  2.4 Financial Statements. Subsection 7.1 of the Credit
Agreement is hereby amended by adding the following new clause at the end
thereof:

                  (c) as soon as available, but in any event not later than (30)
days after the end of each fiscal month of each fiscal year of the US Borrower,
the unaudited consolidated balance sheet of the US Borrower and its consolidated
Subsidiaries as at the end of such fiscal month and the related unaudited
consolidated statements of income and retained earnings and consolidated

<PAGE>   4

statement of cash flows of the US Borrower and its consolidated Subsidiaries for
such fiscal month and the portion of the fiscal year through the end of such
fiscal month, setting forth in each case in comparative form the figures set
forth in the relevant budgets required to be delivered in accordance with
subsection 7.2(c);

                  2.5 Interest Coverage Ratio. Subsection 8.1(a) of the Credit
Agreement is hereby amended by deleting the columns captioned "Period" and
"Ratio" and substituting therefor the following:

<TABLE>
<CAPTION>

                                      Period                              Ratio
                                      ------                              -----
<S>                                                                    <C>

                  October 31, 2000 through June 30, 2001               1.35 to 1.00
                  July 1, 2001 through September 30, 2001              1.55 to 1.00
                  October 1, 2001 through September 30, 2002           1.80 to 1.00
                  October 1, 2002 through September 30, 2003           2.10 to 1.00
                  October 1, 2003 through December 31, 2003            2.60 to 1.00
                  January 1, 2004 and thereafter                       2.75 to 1.00

</TABLE>

                  2.6 Leverage Ratio. Subsection 8.1(b) of the Credit Agreement
is hereby amended by deleting the columns captioned "Fiscal Quarter" and "Ratio"
and substituting therefor the following:

<TABLE>
<CAPTION>

                                       Fiscal Quarter                     Ratio
                                       --------------                     -----
<S>                                                                    <C>

                  October 31, 2000 through June 30, 2001               7.10 to 1.00
                  July 1, 2001 through September 30, 2001              6.20 to 1.00
                  October 1, 2001 through December 31, 2001            5.25 to 1.00
                  January 1, 2002 through March 31, 2002               5.00 to 1.00
                  April 1, 2002 through September 30, 2002             4.75 to 1.00
                  October 1, 2002 through December 31, 2002            4.50 to 1.00
                  January 1, 2003 and thereafter                       4.25 to 1.00
</TABLE>

                  2.7 Senior Debt Ratio. Subsection 8.1(c) of the Credit
Agreement is hereby amended by deleting such Section and substituting therefor
the following:

                           (c) Senior Debt Ratio. Permit the Senior Debt Ratio
                  at the last day of any fiscal quarter occurring during any
                  period set forth below to be greater than the ratio set forth
                  opposite such period below:

<TABLE>
<CAPTION>

                                         Fiscal Quarter                             Ratio
                                         --------------                             -----
<S>                                                                             <C>

                           October 1, 2000 through June 30, 2001                4.50 to 1.00
                           July 1, 2001 through September 30, 2001              4.00 to 1.00
                           October 1, 2001 through March 31, 2002               3.50 to 1.00
                           April 1, 2002 through September 30, 2002             3.25 to 1.00
                           October 1, 2002 and thereafter                       3.00 to 1.00

</TABLE>

<PAGE>   5

                  2.8 Indebtedness. Subsection 8.2 of the Credit Agreement is
hereby amended by deleting "$16,250,000" which appears in clause (e) and
substituting "$30,000,000" in lieu thereof.

                  2.9 Capital Expenditures. Subsection 8.8 of the Credit
Agreement is hereby amended as follows:

                           (a) The columns captioned "Fiscal Year" and "Amount"
                  are deleted and replaced with the following:

<TABLE>
<CAPTION>

                           Fiscal Year                                           Amount
                           -----------                                           ------
<S>                                                                           <C>

                                2001 (including 2000 Q4)                      $75,000,000
                                2002 and each year thereafter                 $50,000,000

</TABLE>

                           (b)  The following new paragraph is added at the end
                  thereof:

                           (c) The US Borrower and the Lenders agree that,
                  notwithstanding the terms set forth in the definition of
                  "Permitted Expenditure Amounts", the maximum Capital
                  Expenditures that the US Borrower and its Subsidiaries are
                  permitted to make shall not be increased on account of the
                  Equity Contribution (as defined in the First Amendment, dated
                  as of November 27, 2000, to this Agreement). The US Borrower
                  and the Lenders also agree that, notwithstanding the carryover
                  provisions set forth in paragraph (a) above, the amount of
                  Capital Expenditures permitted for the US Borrower's 2001
                  fiscal year may not be increased as a result of any CapEx
                  Rollover. In addition, solely for purposes of this subsection
                  8.8 (and related definitions), the US Borrower's fiscal year
                  2001 shall be deemed to include the fourth quarter of the US
                  Borrower's 2000 fiscal year.

                  2.10 Sale and Leasebacks. Subsection 8.12 of the Credit
Agreement is hereby amended by deleting the phrase "ninety (90) days" and
substituting therefore the phrase "one hundred eighty (180) days".

                  2.11 US Tranche A Term Loans. Subsection 2.5(a)(ii) of the
Credit Agreement is hereby amended by deleting the columns captioned
"Installment" and "Amount" and substituting therefor the following:

<TABLE>
<CAPTION>

                               Installment                            Amount
                               -----------                            ------
<S>                                                               <C>

                               December 31, 2000                  $3,640,352.33
                               March 31, 2001                     $1,820,176.17
                               June 30, 2001                      $1,820,176.17
                               September 30, 2001                 $1,820,176.17
                               December 31, 2001                  $1,820,176.17
                               March 31, 2002                     $7,280,704.67
                               June 30, 2002                      $7,280,704.67
                               September 30, 2002                 $7,280,704.67
                               December 31, 2002                  $13,347,958.56

</TABLE>
<PAGE>   6

<TABLE>
<S>                                                               <C>

                               March 31, 2003                     $7,280,704.67
                               June 30, 2003                      $9,100,880.83
                               September 30 2003                  $9,100,880.83
                               December 31, 2003                  $15,168,134.72
                               March 31, 2004                     $9,100,880.83
                               June 30, 2004                      $9,100,880.83
                               September 30, 2004                 $9,100,880.83
                               December 31, 2004                  $15,168,134.72
                               April 21, 2005                     $9,100,819.67

</TABLE>

Section 3.        MISCELLANEOUS.

                  3.1 Conditions to Effectiveness. This Amendment shall become
effective on the date (the "Amendment Effective Date") on which the following
conditions are satisfied (or waived):

                           (i) the Administrative Agent shall have received this
                  Amendment, executed and delivered by a duly authorized officer
                  of each of the US Borrower, the English Bidco, the English
                  Borrower, the Euro Borrower, the Required Lenders and each US
                  Tranche A Term Loan Lender;

                           (ii) the US Borrower shall have received at least
                  $60,000,000 in new cash equity from certain existing investors
                  (the "Equity Contribution");

                           (iii) the $30,000,000 Tower Subordinated Debt shall
                  have been permanently converted to equity securities of the US
                  Borrower; and

                           (iv) the Administrative Agent and the Lenders shall
                  have received all fees required to be paid and expenses
                  required to be paid as of the Amendment Effective Date.

                  3.2 Representation and Warranties. After giving effect to the
waivers and amendments contained herein, on the Amendment Effective Date, each
of the US Borrower, the English Bidco, the English Borrower and the Euro
Borrower hereby confirms that the representations and warranties set forth in
Section 5 of the Credit Agreement are true and correct in all material respects;
provided that each reference in such Section 5 to "this Agreement" shall be
deemed to include this Amendment.

                  3.3 Continuing Effect; No Other Waivers or Amendments. This
Amendment shall not constitute an amendment or waiver of or consent to any
provision of the Credit Agreement and the other Loan Documents not expressly
referred to herein and shall not be construed as an amendment, waiver or consent
to any action on the part of the Borrowers that would require an amendment,
waiver or consent of the Administrative Agent or the Lenders except as expressly
stated herein. Except as expressly amended hereby, the provisions of the Credit
Agreement and the other Loan Documents are and shall remain in full force and
effect in accordance with their terms.

<PAGE>   7

                  3.4 No Default. No Default or Event of Default shall have
occurred and be continuing as of the Amendment Effective Date after giving
effect to this Amendment.

                  3.5 Counterparts. This Amendment may be executed in any number
of separate counterparts by the parties hereto (including by telecopy), each of
which counterparts when so executed shall be an original, but all the
counterparts shall together constitute one and the same instrument.

                  3.6 Payment of Expenses. The US Borrower agrees to pay or
reimburse the Administrative Agent for all of its reasonable out-of-pocket costs
and reasonable expenses incurred in connection with this Amendment, any other
documents prepared in connection herewith and the transactions contemplated
hereby, including, without limitation, the reasonable fees and disbursements of
counsel to the Administrative Agent.

                  3.7 GOVERNING LAW. THIS AMENDMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

            [The remainder of this page is intentionally left blank.]

<PAGE>   8

                  IN WITNESS WHEREOF, the parties hereto have caused this Waiver
to be executed and delivered by their respective duly authorized officers as of
the date first above written.

                              BORROWERS

                              J.L. FRENCH AUTOMOTIVE CASTINGS, INC.,
                              as US Borrower

                              By: ________________________________
                                  Name:
                                  Title:

                              AUTOMOTIVE COMPONENTS INVESTMENTS
                              LIMITED, as English Bidco

                              By: ________________________________
                                  Name:
                                  Title:

                              MORRIS ASHBY LIMITED, as English Borrower
                              and Euro Borrower

                              By: ________________________________
                                  Name:
                                  Title:

                              AGENTS

                              THE CHASE MANHATTAN BANK, as
                              Administrative Agent and Collateral Agent and as a
                              Lender

                              By: ________________________________
                                  Name:
                                  Title:

                              CHASE MANHATTAN INTERNATIONAL
                              LIMITED, as English Agent and Euro Agent

                              By: ________________________________
                                  Name:
                                  Title:

<PAGE>   9

                                  BANK OF AMERICA N.A., as Syndication Agent
                                  and as a Lender

                                  By: ________________________________
                                      Name:
                                      Title:

                                  APEX (IDM) CDO I, LTD.

                                  By: _______________________________
                                      Name:
                                      Title:

                                  THE BANK OF NOVA SCOTIA

                                  By: _______________________________
                                      Name:
                                      Title:

                                  BANK ONE, MICHIGAN (fka NBD BANK)

                                  By: _______________________________
                                      Name:
                                      Title:

                                  FLEET NATIONAL BANK
                                  (fka BANKBOSTON, N.A.)

                                   By: _______________________________
                                       Name:
                                       Title:

                                  CAPTIVA FINANCE LTD.

                                  By: _______________________________
                                      Name:
                                      Title:

                                  COMERICA BANK

                                   By: _______________________________
                                       Name:
                                       Title:

                                   CREDIT AGRICOLE INDOSUEZ
                                   (CHICAGO)

                                   By: _______________________________
                                       Name:
                                       Title:

<PAGE>   10
                                  NORTH AMERICAN SENIOR FLOATING RATE
                                  FUND
                                  By:  CypressTree Investment Management
                                       Company, Inc. as Portfolio Manager

                                  By: _______________________________
                                      Name:
                                      Title:

                                  CYPRESSTREE INVESTMENT MANAGEMENT
                                  COMPANY, INC.
                                  As: Attorney-in-Fact and on behalf of First
                                      Allmerica Financial Life Insurance Company
                                      as Portfolio Manager

                                  By: _______________________________
                                      Name:
                                      Title:

                                  CYPRESSTREE SENIOR FLOATING RATE
                                  FUND
                                  By: CypressTree Investment Management
                                      Company, Inc. as Portfolio Manager

                                  By: _______________________________
                                      Name:
                                      Title:

                                  DRESDNER BANK AG, NEW YORK AND
                                  GRAND CAYMAN BRANCHES

                                  By: _______________________________
                                      Name:
                                      Title:

                                  By: _______________________________
                                      Name:
                                      Title:

                                  ELC (CAYMAN) LTD. 2000-1

                                  By: _______________________________
                                      Name:
                                      Title:

                                  ELC (CAYMAN) LTD. CDO SERIES 1999-I

                                  By: _______________________________
                                      Name:
                                      Title:

                                  FIRST DOMINION FUNDING III

                                  By: _______________________________
                                      Name:
                                      Title:

                                  FIRST UNION NATIONAL BANK N.C.

                                  By: _______________________________
                                      Name:
                                      Title:

                                  FIRSTAR BANK MILWAUKEE, N.A.

                                  By: _______________________________
                                      Name:
                                      Title:
<PAGE>   11

                                  FRANKLIN FLOATING RATE TRUST

                                  By:  _______________________________
                                      Name:
                                      Title:

                                  GENERAL MOTORS EMPLOYEE GLOBAL
                                  GROUP PENSION TRUST

                                  By: _______________________________
                                      Name:
                                      Title:

                                  HARCH CLO I LIMITED

                                  By: _______________________________
                                      Name:
                                      Title:

                                  HARRIS TRUST AND SAVINGS BANK

                                  By: _______________________________
                                      Name:
                                      Title:

                                  HELLER FINANCIAL, INC.

                                  By: _______________________________
                                      Name:
                                      Title:

                                  KZH CYPRESSTREE-1 LLC

                                  By: _______________________________
                                      Name:
                                      Title:

                                  LASALLE BANK N.A.

                                  By: _______________________________
                                      Name:
                                      Title:

                                  MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

                                  By: _______________________________
                                      Name:
                                      Title:

<PAGE>   12

                                MORGAN STANLEY DEAN WITTER
                                PRIME INCOME TRUST

                                By:  _______________________________
                                    Name:
                                    Title:

                                METROPOLITAN PROPERTY AND CASUALTY INSURANCE

                                By: _______________________________
                                    Name:
                                    Title:

                                METROPOLITAN LIFE INSURANCE COMPANY

                                By: _______________________________
                                    Name:
                                    Title:

                                MITSUBISHI TRUST & BANKING CORPORATION

                                By: _______________________________
                                    Name:
                                    Title:

                                OCTAGON INVESTMENT PARTNERS II, LLC

                                By: _______________________________
                                    Name:
                                    Title:

                                OCTAGON INVESTMENT PARTNERS III, LTD.

                                By: _______________________________
                                    Name:
                                    Title:

                                SAAR HOLDINGS CDO LIMITED
                                By: David L. Babson & Company Inc. under
                                    delegated authority from Massachusetts
                                    Mutual Life Insurance Company as Collateral
                                    Manager

                                By: ______________________________
                                    Name:
                                    Title:

                                SCOTIABANK EUROPE PLC

                                By: _______________________________
                                    Name:
                                    Title:

                                SENIOR DEBT PORTFOLIO
                                By: Boston Management and Research as
                                    Investment Advisor

                                By: _______________________________
                                    Name:
                                    Title:

<PAGE>   13

                                  ST. FRANCIS BANK, F.S.B.

                                  By: _______________________________
                                      Name:
                                      Title:

                                  STANFIELD CLO, LTD.
                                  By: Stanfield Capital Partners LLC as its
                                      Collateral Manager

                                  By: _______________________________
                                      Name:
                                      Title:

                                  STANFIELD\RMF TRANSATLANTIC CDO, LTD.
                                  By: Stanfield Capital Partners LLC as its
                                      Collateral Manager

                                  By: _______________________________
                                      Name:
                                      Title:

                                  STEIN ROE FLOATING RATE LIMITED
                                  LIABILITY COMPANY

                                  By: _______________________________
                                      Name:
                                      Title:

                                  STEIN ROE & FARNHAM CLO I LTD.

                                  By: _______________________________
                                      Name:
                                      Title:

                                  TRAVELERS CORPORATE LOAN FUND INC.
                                  By: Travelers Asset Management International
                                      Company, LLC

                                  By: ___________________________
                                      Name:
                                      Title:

                                  THE TRAVELERS INSURANCE COMPANY

                                  By: ______________________________
                                      Name:
                                      Title:

                                  U.S. BANK NATIONAL ASSOCIATION MN

                                  By:  _______________________________
                                       Name:
                                       Title:

                                  VAN KAMPEN SENIOR INCOME TRUST
                                  By:  Van Kampen Investment Advisory Corp.

                                  By:  _______________________________
                                       Name:
                                       Title:

                                  VAN KAMPEN SENIOR FLOATING RATE FUND
                                  By:  Van Kampen Investment Advisory Corp.

                                  By: _______________________________
                                      Name:
                                      Title:<PAGE>

                                                                   EXHIBIT 10.18

     THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
        1933, AS AMENDED (THE "ACT"), AND MAY NOT BE SOLD, ASSIGNED OR
     TRANSFERRED EXCEPT (i) PURSUANT TO A REGISTRATION STATEMENT UNDER THE
      ACT WHICH HAS BECOME EFFECTIVE AND IS CURRENT WITH RESPECT TO THESE
    SECURITIES, OR (ii) PURSUANT TO A SPECIFIC EXEMPTION FROM REGISTRATION
     UNDER THE ACT CONSISTENT WITH ALL APPLICABLE PROVISIONS OF THE ACT AS
      WELL AS ANY APPLICABLE "BLUE SKY" OR SIMILAR STATE SECURITIES LAWS

     THE INDEBTEDNESS EVIDENCED BY THIS INSTRUMENT IS SUBORDINATED TO THE
     PRIOR PAYMENT IN FULL OF ALL INDEBTEDNESS OF THE ISSUER (THE "SENIOR
    DEBT") INCURRED PURSUANT TO THAT CERTAIN REVOLVING CREDIT AND TERM LOAN
    AGREEMENT DATED AS OF APRIL 26, 1999 (AS AMENDED FROM TIME TO TIME, THE
   "SENIOR CREDIT AGREEMENT") BY AND AMONG CHART HOUSE ENTERPRISES, INC., A
     DELAWARE CORPORATION ("PARENT"), THE COMPANY (AS DEFINED BELOW), BANK
BOSTON, N.A. (n/k/a FLEET NATIONAL BANK), AS AGENT ("AGENT") AND THE FINANCIAL
          INSTITUTIONS SIGNATORIES THERETO, PURSUANT TO THAT CERTAIN
      SUBORDINATION AGREEMENT OF EVEN DATE HEREWITH (AS AMENDED FROM TIME
    TO TIME, THE "SUBORDINATION AGREEMENT") EXECUTED BY AGENT, PARENT, THE
    COMPANY, THE SUBSIDIARY GUARANTORS PARTY THERETO, AND SAMSTOCK, L.L.C.

                   Subordinated Promissory Note and Guaranty
                   -----------------------------------------

Chicago, Illinois
November ___, 2000                                                 $2,000,000.00

     FOR VALUE RECEIVED, CHART HOUSE, INC., a Delaware corporation (the
"Company"), promises to pay to the order of Samstock, L.L.C., a Delaware limited
liability company, or its assigns ("Holder", which term shall include the
holder, from time to time, of this Note) the sum of Two Million and No/100ths
Dollars ($2,000,000.00), in legal tender of the United States, together with
interest (computed on the basis of a 360-day year of twelve 30-day months for
actual days elapsed) on the principal amount outstanding from time to time as
provided in Section 1 hereof.

     1.   Payments of Principal and Interest.
          ----------------------------------

          (a)  Interest shall accrue on the unpaid principal of this Note and
shall be computed at a rate per annum, for Interest Periods and in a manner
identical to the rate, Interest Periods and manner applicable to the portion of
the Term Loan in the aggregate principal amount of $5,000,000 (the "$5 Million
Portion") identified in Section 4.5.1(c) of the Senior Credit Agreement,
provided however that the rate per annum shall be equal to the Eurodollar Rate
plus sixteen percent (16%), instead of the Eurodollar Rate plus fourteen percent
----                                                       ----
percent (14%). If, for any reason, the $5 Million Portion shall not be (or shall
not be deemed to be) outstanding, interest owing under this Note shall be
computed at the Eurodollar Rate plus sixteen percent (16%) per annum for the
                                ----
Interest Periods and in the manner applicable to the Term Loan. To the extent
permitted by applicable law, accrued but unpaid interest owing on this Note
shall be added to the principal balance of this Note as of each Interest Payment
Date applicable to the $5 Million Portion, and shall accrue interest as if it
were additional principal hereunder. If not sooner paid, the total unpaid
principal balance, all accrued but unpaid interest, and all other amounts owing
hereunder shall be due and payable on the Maturity Date (as hereinafter
<PAGE>

defined). All payments of principal and interest shall be made to the holder of
this Note not later than 1:00 p.m. (Chicago time) on the date and at the place
of payment designated by the holder hereof as aforesaid, and any payment
received on such date but after such hour shall be deemed to have been paid to
and received by the holder hereof on the next succeeding business day. If the
date on which any payment is required to be made pursuant to this Note is not a
business day, then such payment shall be due and payable on the next succeeding
date which is not a Saturday, Sunday or legal holiday, and such extension of
time shall be included in computing interest. All payments of principal and
interest made hereunder shall be applied first to accrued interest and then to
principal.

          (b)  As used in this Note, the term "Maturity Date" shall mean the
date which is the first to occur of (i) March 31, 2005, and (ii) the date on
which the right to accelerate payment of this Note accrues to the holder hereof
as provided in this Note.

          (c)  All payments hereunder shall be made without reduction, and shall
not be subject to any claim or offset of any kind or nature whatsoever. Without
limiting the foregoing, all payments made by the Company or Parent under this
Note shall be made free and clear of, and without deduction or withholding for
or on account of, any future income, stamp or other taxes, levies, imposts,
deductions, charges, or withholdings, excluding taxes imposed on net income of
Holder (all such non-excluded taxes, levies, imposts, deductions, charges or
withholdings being hereinafter called "Taxes"). If any Taxes are required to be
withheld from any amounts so payable to Holder hereunder, the amounts so payable
to Holder shall be increased to the extent necessary to yield to Holder (after
payment of all Taxes) interest or any such other amounts payable hereunder at
the rates or in the amounts specified in this Note.

          (d)  The terms and provisions of Sections 6.5 - 6.7 of the Senior
Credit Agreement shall be applicable to the indebtedness owing under this Note,
to the extent applicable, and with the necessary conforming modifications.

          (e)  After all principal, accrued interest, and all other amounts at
any time owed on this Note have been paid in full in cash, this Note shall be
surrendered to the Company for cancellation.

     2.   Optional Prepayment by the Company.  This Note may be prepaid in whole
          ----------------------------------
or in part without penalty or premium, together with all accrued interest on the
amount prepaid, and all other obligations then due and owing hereunder.  Any
prepayment amount shall be first applied to collection costs and other amounts
(excluding principal and interest) due hereunder, then to accrued interest
hereunder, and then to principal.

     3.   Events of Default.  Each of the following shall constitute an "Event
          -----------------
of Default," whatever the reason for such event and whether it shall be
voluntary or involuntary, or within or without the control of the Company, or be
effected by operation of law or pursuant to any judgment or order of any court
or any order, rule or regulation of any governmental or nongovernmental body:

          (a)  The Company or Parent defaults in payment of the outstanding
principal, any accrued and unpaid interest on this Note or any other payments
due hereunder when the same become due and payable in accordance with the terms
of this Note; or

          (b)  The Company or Parent fails to observe, perform or comply with
any covenant, condition or agreement to be observed, performed or complied with
under this Note,

                                      -2-
<PAGE>

and if such failure can be cured, such failure continues unwaived and uncured
for thirty (30) days following the date the Company and Parent receives written
notice from Holder of such nonperformance; or

          (c)  Any representation or warranty made by the Company or Parent
herein shall prove to have been untrue or incorrect in any material respect on
or as of the date made; or

          (d)  The Company or any Guarantor shall (i) commence a voluntary case
under the Federal bankruptcy laws (as now or hereafter in effect), (ii) file a
petition seeking to take advantage of any other laws, domestic or foreign,
relating to bankruptcy, insolvency, reorganization, winding up or composition or
adjustment of debts, (iii) consent to or fail to contest in a timely and
appropriate manner any petition filed against it in an involuntary case under
such bankruptcy laws or other laws, (iv) apply for, or consent to, or fail to
contest in a timely and appropriate manner, the appointment of, or the taking of
possession by, a receiver, custodian, trustee or liquidator of itself or of a
substantial part of its assets domestic or foreign, (v) admit in writing its
inability to pay its debts as they become due, (vi) make a general assignment
for the benefit of creditors, or (vii) take any corporate action for the purpose
of effecting any of the foregoing; or

          (e)  A case or other proceeding shall be commenced against the Company
or any Guarantor in any court of competent jurisdiction seeking (i) relief under
the Federal bankruptcy laws (as now or hereafter in effect) or under any other
laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization,
winding up or adjustment of debts, or (ii) the appointment of a trustee,
receiver, custodian, liquidator or the like, of the Company or any Guarantor, or
of all or any substantial part of the assets, domestic or foreign, of the
Company or any Guarantor and such case or proceeding shall continue undismissed
or unstayed for a period of sixty (60) calendar days, or an order granting the
relief requested in such case or proceeding against the Company or any Guarantor
(including, but not limited to, an order for relief under such Federal
bankruptcy laws) shall be entered; or

          (f)  The holders of the Senior Debt shall accelerate the Senior Debt
or there shall occur an Event of Default under the Senior Credit Agreement; or

          (g)  The Guaranty of even date herewith (the "Guaranty"), or the
guaranty set forth in Section 4 hereof, in each case executed or given by the
Guarantors, shall cease, for any reason, to be in full force and effect, or any
Guarantor shall so assert or shall disavow liability thereunder.

          Upon the occurrence of an Event of Default hereunder, the holder of
this Note may, upon written notice to the Company, (i) declare all obligations
owing hereunder immediately due and payable, provided however that upon an Event
of Default described in Sections 3(d) or (e) above, all such obligations shall
automatically become immediately due and payable without notice or demand of any
kind, and (ii) pursue its other rights and remedies under this Note, the
Guaranty and applicable law.

          All powers and remedies given by this Section 3 to Holder shall, to
the extent permitted by law, be deemed cumulative and not exclusive of any
thereof or of any other powers and remedies available to Holder by judicial
proceedings or otherwise, to enforce the performance or observance of the
covenants and agreements contained in this Note, and no delay or omission of
Holder to exercise any right or power accruing upon any default occurring and
continuing as aforesaid shall impair any such right or an acquiescence therein
and every

                                      -3-
<PAGE>

power and remedy given by this Section 3 or by law to Holder may be exercised
from time to time, and as often as shall be deemed expedient, by Holder.

          In addition to those remedies set forth in this Section 3, if this
Note is not paid when due, whether at maturity or by acceleration, the Company
promises to pay all costs of collection, including without limitation reasonable
attorneys' fees and costs, whether or not suit is filed hereon.  Such costs and
expenses shall include without limitation all costs, reasonable attorneys' fees
and expenses incurred by Holder in connection with any insolvency, bankruptcy,
reorganization, arrangement or other similar proceedings involving the Company
or any Guarantor.

     4.   Guaranty.
          --------

          (a)  Guaranty of Payment and Performance. The Parent hereby guarantees
               -----------------------------------
to Holder 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 indebtedness and other amounts owing under this Note
(collectively, 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 collectability only and is in no way
conditioned upon any requirement that Holder first attempt to collect any of the
Obligations from the Company or 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 obligations of the Parent hereunder with respect
to such Obligations in default shall, upon demand by Holder, become immediately
due and payable to Holder, without demand or notice of any nature, all of which
are expressly waived by the Parent.  Payments by the Parent hereunder may be
required by Holder on any number of occasions. All payments by the Parent
hereunder shall be made to the Holder, in the manner and at the place of payment
specified therefor for payments hereunder to be made by the Company.

          (b)  Parent's Agreement to Pay Enforcement Costs, etc.  The Parent
               ------------------------------------------------
further agrees, as the principal obligor and not as a guarantor only, to pay to
Holder, on demand, all reasonable costs and expenses (including court costs and
reasonable legal expenses, including the allocated cost of staff counsel)
incurred or expended by Holder in connection with the Obligations, this guaranty
and the enforcement thereof, together with interest on amounts recoverable
hereunder from the time when such amounts become due until payment, whether
before or after judgment, at the rate of interest set forth in (S)1 hereof,
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.

          (c)  Waivers by the Parent; Holder's Freedom to Act. The Parent 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 Holder with respect thereto. The Parent waives promptness, diligence,
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.

                                      -4-
<PAGE>

Without limiting the generality of the foregoing, the Parent agrees to the
provisions of any instrument evidencing, securing or otherwise executed in
connection with any Obligation and agrees that the obligations of the Parent
hereunder shall not be released or discharged, in whole or in part, or otherwise
affected by (i) the failure of Holder 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 this Note or any other agreement evidencing, securing or otherwise
executed in connection with any of the Obligations made in accordance with the
terms hereof; (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 the
Parent or otherwise operate as a release or discharge of the Parent (other than
the indefeasible payment in full, in cash, of all of the Obligations), all of
which may be done without notice to the Parent.

          (d)  Unenforceability of Obligations Against the 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 (other
than the indefeasible payment in full, in cash, of all of the Obligations), to
the extent permitted by law, this guaranty shall nevertheless be binding on the
Parent to the same extent as if the Parent 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 this Note or any other
agreement evidencing, securing or otherwise executed in connection with any
Obligation shall be immediately due and payable by the Parent.

          (e)  Subrogation; Subordination.
               --------------------------

               (i)   Postponement of Rights Against the Company. Until the final
                     ------------------------------------------
     payment and performance in full in cash of all of the Obligations, the
     Parent shall not exercise any rights against the Company arising as a
     result of payment by the Parent hereunder, by way of subrogation,
     reimbursement, restitution, contribution or otherwise, and will not prove
     any claim in competition with Holder in respect of any payment hereunder in
     any bankruptcy, insolvency or reorganization case or proceedings of any
     nature; the Parent will not claim any setoff, recoupment or counterclaim
     against the Company in respect of any liability of the Parent to the
     Company.

               (ii)  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 the Parent is hereby subordinated to the prior
     payment in full in cash of all of the Obligations. The Parent agrees that,
     after the occurrence of any default in the payment or performance of any of
     the Obligations, the Parent will not demand, sue for or otherwise attempt
     to collect any such indebtedness of the Company to such Parent until all of
     the Obligations shall have been paid in full. If, notwithstanding the
     foregoing sentence, the Parent 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 the
     Parent as trustee for the Holder and be paid

                                      -5-
<PAGE>

     over to Holder, on account of the Obligations without affecting in any
     manner the liability of the Parent under the other provisions of this
     guaranty.

               (iii) Provisions Supplemental.  The provisions of this (S)4(e)
                     -----------------------
     shall be supplemental to and not in derogation of any rights and remedies
     of Holder under any separate subordination agreement which Holder may at
     any time and from time to time enter into with the Parent.

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

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

          (h)  Termination; Reinstatement.  This guaranty shall terminate upon
               --------------------------
the final and indefeasible payment in full, in cash, of the Obligations.
Notwithstanding any termination of this guaranty upon the final and indefeasible
payment in full, in cash, of the Obligations, this guaranty shall continue to be
effective or be reinstated, if at any time any payment made or value received
with respect to any Obligation is rescinded or must otherwise be returned by
Holder upon the insolvency, bankruptcy or reorganization of the Company, or
otherwise, all as though such payment had not been made or value received.

          (i)  Successors and Assigns.  This guaranty shall be binding upon the
               ----------------------
Parent, its successors and assigns, and shall inure to the benefit of Holder and
its respective successors, transferees and assigns.  The Parent may not assign
any of its obligations hereunder.

     5.   Priority.  The indebtedness evidenced by this Note is subordinate to
          --------
the prior payment in full of the Senior Debt pursuant to the terms of the
Subordination Agreement.

     6.   Representations, Warranties and Covenants.  Each of Parent and the
          -----------------------------------------
Company represents and warrants to Holder as follows:

          (a)  Authorization.  It has the corporate power and authority to
               -------------
execute, deliver and perform this Note and to incur the Obligations, and it has
taken all necessary corporate action to authorize the execution, delivery and
performance of this Note.

          (b)  No Consents Required.  Except for any filings under applicable
               --------------------
federal or state securities laws, no consent, approval or authorization of, or
declaration or filing with, any federal, state or local governmental authority
and no consent of any other person, company,

                                      -6-
<PAGE>

partnership or other organization or entity is required in connection with its
execution, delivery and performance of this Note.

          (c)  No Conflict. Its execution, delivery and performance of this Note
               -----------
and payment of the Obligations does not and will not conflict with, or
constitute a violation or breach of, constitute a default under (i) any material
contract, mortgage, lien, lease, agreement or other instrument to which it is a
party or which is binding upon it, (ii) any requirement of law or regulation
applicable to it or (iii) its certificate of incorporation or bylaws.

          (d)  Enforceability. This Note has been duly executed and delivered by
               --------------
it and constitutes its legal, valid and binding obligations, enforceable against
it in accordance with its terms.

          (e)  Covenants.  From the time that (and for so long as) the Senior
               ---------
Debt shall be paid in full in cash, or the Senior Credit Agreement shall
otherwise be terminated or no longer in full force and effect, each and every
covenant contained in Sections 10-12 of the Senior Credit Agreement (as in
effect as of the date of such payment or termination) shall be deemed
incorporated in and a part of this Note as if they were set forth herein, with
all necessary conforming modifications, and the Company and Parent shall comply
with each and every such covenant.

     7.   Miscellaneous.
          -------------

          (a)  This section headings contained in this Note are inserted for
convenience only and shall not affect, in any way, the meaning or
interpretations of this Note.

          (b)  This Note shall be governed by and construed in accordance with
the internal laws (and not the laws of conflicts) of the State of Illinois.

          (c)  To the maximum extent permitted by applicable law, the Company,
Parent and all endorsers and all persons liable or to become liable hereunder
hereby waive presentment, demand, protest, diligence of collection, notice of
protest, dishonor and nonpayment and all notices of every kind, and, the defense
of the statute of limitations.

          (d)  BY ACCEPTANCE OF THIS NOTE, HOLDER REPRESENTS THAT IT IS AN
ACCREDITED INVESTOR, WITHIN THE MEANING OF RULE 501 OF REGULATION D UNDER THE
ACT, AND THAT IT IS PURCHASING THIS NOTE FOR ITS OWN ACCOUNT FOR INVESTMENT, AND
NOT WITH A VIEW TO, OR FOR RESALE IN CONNECTION WITH, ANY PUBLIC DISTRIBUTION OF
SUCH NOTE.

          (e)  It is the intention of the parties to conform strictly to the
usury laws, whether state or federal, that are applicable to this Note. All
agreements between the Company and Holder, whether now existing or hereafter
arising and whether oral or written, are hereby expressly limited so that in no
contingency or event whatsoever, shall the amount paid or agreed to be paid to
Holder, or collected by Holder, for the use, forbearance or detention of the
money loaned or to be loaned hereunder or otherwise, or for the payment or
performance of any covenant or obligation contained herein or in any other
document evidencing, securing or pertaining to the indebtedness evidenced
hereby, exceed the maximum amount permissible under applicable federal or state
usury laws. If under any circumstances whatsoever fulfillment of any provision
hereof, at the time performance of such provision shall be due, shall involve
exceeding the limit of validity prescribed by law, then the obligation to be
fulfilled shall be

                                      -7-
<PAGE>

reduced to the limit of such validity; and if under any circumstances Holder
shall ever receive an amount deemed interest by applicable law, which would
exceed the highest lawful rate, such amount that would be excessive interest
under applicable usury laws shall be applied to the reduction of the principal
amount owing hereunder and not to the payment of interest, or if such excessive
interest exceeds the unpaid balance of principal, the excess shall be deemed to
have been a payment made by mistake and shall be refunded to the Company or to
any other person making such payment on the Company's behalf. All sums paid or
agreed to be paid to the holder hereof for the use, forbearance or detention of
the indebtedness of the Company evidenced hereby outstanding from time to time
shall, to the extent permitted by applicable law, and to the extent necessary to
preclude exceeding the limit of validity prescribed by law, be amortized,
prorated, allocated and spread from the date of disbursement of the proceeds of
this Note until payment in full of the loan evidenced hereby so that the actual
rate of interest on account of such indebtedness is uniform throughout the term
hereof.

          (f)  Time is of the essence with respect to the performance of the
obligations of the Company and Parent under this Note.

          (g)  Any notice required or permitted to be given hereunder shall be
in writing, and shall be given in the manner set forth in the Senior Credit
Agreement and to the addresses set forth below.

          (h)  No modification, waiver, amendment, discharge or change of this
Note shall be valid unless the same is in writing and signed by the party
against which the enforcement of such modification, waiver, amendment, discharge
or change is sought.

          (i)  In the event any one or more of the provisions contained in this
Note should be held invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein or therein shall not in any way be affected or impaired thereby.

          (j)  This Note represents the agreement of the Company, Parent and
Holder with respect to the subject matter hereof, and there are no promises,
undertakings, representations or warranties by Holder relative to the subject
matter hereof not expressly set forth or referred to herein.

          (k)  This Note shall inure to the benefit of and shall be binding on
the parties hereto and their respective successors and assigns, provided that
neither the Company nor Parent may transfer its obligations under, or interest
in, this Note, or any portion hereof, without the prior written consent of
Holder.

          (l)  This Note is unsecured.

          (m)  The Company agrees to pay all costs and out-of-pocket expenses
(including but not limited to reasonable attorneys' fees) incurred by Holder in
connection with the negotiation, documentation and consummation of this Note,
but not in excess of $7,500 in the aggregate.

          (n)  Capitalized terms used but not defined herein shall have the
meanings ascribed thereto in the Senior Credit Agreement; provided that it is
hereby agreed that all references to the Senior Credit Agreement, including
defined terms, procedures, and particular terms and provisions, shall be
references to the Senior Credit Agreement, as amended from

                                      -8-
<PAGE>

time to time; provided further that if the Senior Debt shall be paid in full in
cash, or the Senior Credit Agreement shall otherwise be terminated or no longer
in full force and effect, such references to the Senior Credit Agreement shall
be references to the Senior Credit Agreement as in effect as of the date hereof.

          (o)  Each of the Company and Parent agrees that any suit for the
enforcement of this Note 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 Company or Parent by mail at the address specified by reference in
Section 7(g).  Each of the Company and Parent 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.

          (p)  EACH OF THE COMPANY AND PARENT HEREBY WAIVES ITS RIGHT TO A JURY
TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN
CONNECTION WITH THIS NOTE, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THE
PERFORMANCE OF ANY OF SUCH RIGHTS OR OBLIGATIONS.  Except as prohibited by law,
each of the Company and Parent 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 Company and Parent (i) certifies
that neither Holder nor any representative, agent or attorney of Holder has
represented, expressly or otherwise, that Holder would not, in the event of
litigation, seek to enforce the foregoing waivers, and (ii) acknowledges that,
in making the loan evidenced by this Note, Holder is relying upon, among other
things, the waivers and certifications contained in this Section 7(p).

          (q)  This Note may be executed (i) in counterparts, each of which
counterparts shall be an original, and all of which together shall constitute
one instrument, and (ii) by facsimile signature, and such facsimile signature
shall be deemed to be an original instrument.

                                      -9-
<PAGE>

     IN WITNESS WHEREOF, the Company and Parent have caused this Note to be
executed as of this ____ day of November, 2000.

                         CHART HOUSE, INC., a Delaware corporation

                         By:   __________________________________________
                         Name: William Sullivan
                               ------------------------------------------
                         Its:  Executive Vice President & CFO
                               ------------------------------------------

                         CHART HOUSE ENTERPRISES, INC., a Delaware corporation
                         (solely for purpose of Sections 4 and 6 above)

                         By:   __________________________________________
                         Name: William Sullivan
                               ------------------------------------------
                         Its:  Executive Vice President & CFO
                               ------------------------------------------

Address for notices to the Company and Parent:

640 North LaSalle Street
Suite 295
Chicago, IL 60610
Fax No.: 312-202-1938
Attn: General Counsel

Address for notices to Holder:

Samstock, L.L.C.
c/o Equity Group Investments, L.L.C.
Two North Riverside Plaza
Suite 600
Chicago, IL 60606
Fax No.: 312-454-0610
Attn: General Counsel

                                      -10-

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