Document:

<PAGE>   1
                                                                  EXHIBIT 10(AA)

                          SALARY CONTINUATION AGREEMENT

      AGREEMENT made as of the fifth day of May 1998, ("the Effective Date") by
and between Union Planters Corporation ("UPC") and Lloyd DeVaux ("DeVaux").

      WHEREAS, DeVaux and UPC entered into a Salary Continuation Agreement dated
January 1, 1998, which they now desire to replace and supersede in its entirety
with this Salary Continuation Agreement, and

      WHEREAS, UPC desires to assure continued payment of DeVaux's base salary
and annual bonus and provide for other compensation and benefits under certain
circumstances; and

      WHEREAS, DeVaux wishes to continue in the employment of UPC and receipt
of his compensation; and

      WHEREAS, except as otherwise specifically set forth herein, the parties
acknowledge that this is not a contract of employment for any fixed period of
time at any agreed upon compensation, and DeVaux is an employee-at-will.

      NOW, THEREFORE, in consideration of the premises and mutual covenants
contained in this Agreement and for other good and valuable consideration, the
parties hereby agree as follows:

           1. Replacement of Previous Agreement. The Salary Continuation
      Agreement dated January 1, 1998 between DeVaux and UPC is hereby replaced
      and superseded in its entirety by this Salary Continuation
      Agreement("Agreement").

           2. Base Salary and Bonus. Effective June 1, 1998, DeVaux's base
      salary shall be $200,000.00 per annum. DeVaux shall continue to be
      eligible for an annual cash bonus and stock options to the same extent as
      other UPC officers of similar position.

           3. Grant of Right to Stock. There shall be a recommendation made to
      the Salary and Benefits Committee at its meeting next following the
      execution of this Agreement that there be granted to DeVaux twelve
      thousand (12,000) shares of restricted UPC common stock ("Restricted
      Stock") in accordance with UPC's standard terms and conditions regarding
      the granting of rights in such stock. Such recommendation shall provide
      that the Restricted Stock shall vest in DeVaux according to the following
      schedule: 1,000 shares on October 18, 1998, and 1,000 shares on October 18
      of each of the next eleven years.

           4. Change in Control. For the purposes of this Agreement, "Change in
      Control" of UPC means the acquisition of UPC by another entity, which
      shall be defined herein as the merger of UPC with or into an acquiring
      entity, with UPC not surviving the merger.

           5. Entitlement  Following a Change in Control. Upon a Change in
      Control:

              (a) all shares of Restricted Stock not yet vested in DeVaux
                  shall immediately vest; and

              (b) UPC and DeVaux shall be deemed to have entered into a
           contract of employment for a period of one year, at DeVaux's then
           current base compensation. At any time during such one year term,
           should DeVaux resign, he shall receive:

                  (i)  a lump-sum payment, payable in cash within thirty (30)
              days of the effective date of DeVaux's resignation (less
              applicable federal and state taxes) equal to (A) his current base
              salary multiplied by two (2), plus (B) an amount equal to the
              highest of the preceding two years' cash bonuses paid to DeVaux
              multiplied by two(2); and

                  (ii) continued medical coverage for the lesser of (A) two
                  years or (B) until DeVaux shall be reemployed. Upon DeVaux's
                  resignation, such contract of employment shall terminate.

           6. Termination without a Change in Control. Should DeVaux be
      terminated without cause prior to December 31, 2001 by UPC without a
      Change in Control having occurred, DeVaux shall be entitled to:

<PAGE>   2
           (a) a lump sum payment, payable in cash within thirty (30) days of
      the effective date of DeVaux's termination (less applicable federal and
      state taxes) equal to(A) his current base salary multiplied by two(2)
      plus(B) an amount equal to the highest of the preceding two years' cash
      bonuses paid to DeVaux multiplied by two (2); and

           (b) continued medical coverage for the lesser of (A) two years or (B)
      until DeVaux shall be reemployed.

           7. Governing Law. The validity, interpretation, construction and
      performance of this Agreement shall be governed by the laws of the State
      of Tennessee.

           8. Modification, Waiver or Discharge. No provision of this Agreement
      may be modified, waived or discharged unless such waiver, modification or
      discharge is agreed to in writing signed by DeVaux and an authorized
      officer of UPC. No waiver by either party hereto at any time of any breach
      by the other party hereto of, or compliance with, any condition or
      provision of this Agreement to be performed by such other party shall he
      deemed a waiver of similar or dissimilar provisions or conditions at the
      same or at any prior or subsequent time. No agreements or representations,
      oral or otherwise, express or implied, with respect to the subject matter
      hereof have been made by either party which are not expressly set forth in
      this Agreement; provided, however, that this Agreement shall not supersede
      or in any way limit the right, duties or obligations that DeVaux or UPC
      may have under any other written agreement between such parties, under any
      employee pension benefit plan or employee welfare benefit plan as defined
      under the Employee Retirement Income Security Act of 1974, as amended, and
      maintained by UPC, or under any established personnel practice or policy
      applicable to DeVaux.

      IN WITNESS WHEREOF, the undersigned have executed this Agreement.

      UNION PLANTERS CORPORATION

      By: /s/ Jackson W. Moore
         -------------------------------------

      Title: President and CEO
             ---------------------------------

      /s/ Lloyd DeVaux
      ----------------------------------------
      Lloyd DeVaux<PAGE>   1
                                                                  EXHIBIT 10(BB)

             AMENDED EXECUTIVE FINANCIAL PLANNING SERVICES PLAN 2000

      This nonqualified Plan allows Section 16 Executive Officers of the
Corporation to receive reimbursement for payment of fees to attorney,
accountant, or financial planning service for tax or estate planning services.
Reimbursements are limited to $12,000 annually, grossed up for applicable taxes,
and are paid as Special Pay taxable to Executive. The Executive is responsible
for payment to the provider of services. Payments under this Plan are expensed
as compensation to the Executive when reimbursed and charged to their respective
cost center.

      The listing below includes Executives eligible for Plan for the current
plan year.

                          SECTION 16 EXECUTIVE OFFICERS

<TABLE>
       <S>           <C>                   <C>
       Rawlins, Jr.  Benjamin W.           Chairman & CEO -- Corporation
       Moore         Jackson W.            President & COO -- Corporation
       DeVaux        Lloyd B.              Executive Vice President
       Parker        John W.               Executive Vice President
       Russell       Michael B.            Executive Vice President
       Walters       Milt K.               Senior Vice President
</TABLE><PAGE>   1
                                                                 EXHIBIT 10 (c)

                SECOND AMENDMENT AND WAIVER TO CREDIT AGREEMENT

         THIS SECOND AMENDMENT AND WAIVER TO CREDIT AGREEMENT (this "Second
Amendment") is made and entered into as of this 4th day of November, 1999 by
and among RARE HOSPITALITY INTERNATIONAL, INC., a corporation organized under
the laws of Georgia (the "Borrower"), the Lenders who are or may become a
party to the Credit Agreement referred to below, FIRST UNION NATIONAL, as
Administrative Agent for the Lenders (the "Administrative Agent) and
BANKBOSTON, N.A. and FLEET NATIONAL BANK, as Co-Agents (collectively, the
"Co-Agents").

                              Statement of Purpose

         The Lenders agreed to extend certain extensions of credit to the
Borrower pursuant to the Amended and Restated Credit Agreement dated as of
August 26, 1998 by and among the Borrower, the Lenders, the Administrative
Agent and the Co-Agents (as amended by the First Amendment to Credit Agreement
dated as of December 31, 1999 and as further amended or supplemented from time
to time, the "Credit Agreement").

         The parties now desire to amend the Credit Agreement in certain
respects and waive certain provisions of the Credit Agreement, all on the terms
and conditions set forth below.

         NOW THEREFORE, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

         1.       Effect of Amendments and Waivers. Except as expressly amended
hereby, the Credit Agreement and Loan Documents shall be and remain in full
force and effect. The waivers granted herein are specific and limited and shall
not constitute an amendment of the Credit Agreement or the Loan Documents or a
modification, acceptance or waiver of any other provision of or default under
the Credit Agreement, the Loan Documents or any other document or instrument
entered into in connection therewith or a future modification, acceptance or
waiver of the provisions set forth therein (except to the extent necessary to
give effect to the specific waivers and agreements set forth herein).

         2.       Capitalized Terms. All capitalized undefined terms used in
this Second Amendment shall have the meanings assigned thereto in the Credit
Agreement.

         3.       Modification of Credit Agreement. The Credit Agreement is
hereby amended as follows:

         (a)      The defined terms "Fixed Charges" and "Revolving Credit
Termination Date" set forth in Section 1.1 of the Credit Agreement are each
hereby deleted in their entirety and the following definition shall be
substituted in lieu thereof:

                  "'Fixed Charges' means, with respect to the Borrower and its
         Subsidiaries as of the last day of any fiscal quarter, the sum of the
         following: (a) Interest Expense calculated for the period of four (4)
         fiscal quarters ending on such date, plus (b) Rental Expense
         calculated for the period of four (4) fiscal quarters ending on such
         date, plus (c) the difference (if positive) between (i) the average
         daily aggregate Revolving Credit Loans outstanding during the calendar
         month preceding such date minus (ii) the Aggregate Commitment, as
         reduced by any mandatory reductions pursuant to Section 2.6(c), on the
         last day of the fiscal quarter immediately following such date, all
         determined on a Consolidated basis in accordance with GAAP."

                           "'Revolving Credit Termination Date' means the
         earliest of the dates referred to in Section 2.7."

         (b)      The defined terms "Term-Out Amount", "Term-Out Maturity
Date", and "Term-Out Period" set forth in Section 1.1 of the Credit Agreement
are each hereby deleted in their entirety.

<PAGE>   2
         (c)      The following defined terms shall be inserted into Section
1.1 in the correct alphabetical order:

                  "'Conversion Date' shall have the meaning assigned thereto in
         Section 2.6(c)."

                  "'Second Amendment' means the Second Amendment and Waiver to
         the Credit Agreement dated as of November __, 1999 by and among the
         Borrower, the Lenders and the Administrative Agent and the Co-Agents."

         (d)      Section 2.4(a) of the Credit Agreement is hereby deleted in
its entirety and the following Section 2.4(a) shall be substituted in lieu
thereof:

                  "(a)     Repayment on Termination Date. The Borrower shall
         repay the outstanding principal amount of (i) all Revolving Credit
         Loans in full on the Revolving Credit Termination Date and (ii) all
         Swingline Loans in accordance with Section 2.2(b), together, in each
         case, with all accrued but unpaid interest thereon."

         (e)      Section 2.6 of the Credit Agreement is hereby deleted in its
entirety and the following Section 2.6 shall be substituted in lieu thereof:

         "SECTION 2.6  Permanent Reduction of the Aggregate Commitment.

                  (a)      Voluntary Reduction. The Borrower shall have the
         right at any time and from time to time, upon at least five (5)
         Business Days prior written notice to the Administrative Agent, to
         permanently reduce, without premium or penalty, (i) the entire
         Aggregate Commitment at any time or (ii) portions of the Aggregate
         Commitment, from time to time, in an aggregate principal amount not
         less than $3,000,000 or any whole multiple of $1,000,000 in excess
         thereof.

                  (b)      Mandatory Permanent Reduction. The Aggregate
         Commitment shall be permanently reduced by the following amounts: (i)
         100% of the Net Cash Proceeds received by the Borrower or any of its
         Subsidiaries from any issuance of Funded Debt (other than Funded Debt
         permitted pursuant to Section 10.1), (ii) 100% of the Net Cash
         Proceeds received by the Borrower or any of its Subsidiaries in
         connection with any sale of assets (including its equity ownership in
         any Person) not permitted pursuant to Section 10.6 (a) through (e)
         unless, so long as no Default or Event of Default has occurred and is
         continuing, such Net Cash Proceeds are reinvested in similar assets
         (or otherwise in a manner acceptable to the Administrative Agent, in
         its sole discretion) within 270 days after receipt of such Net Cash
         Proceeds; provided, that this clause (ii) shall not apply with respect
         to up to $10,000,000 of the aggregate Net Cash Proceeds received by
         the Borrower and its Subsidiaries prior to the Conversion Date and
         (iii) 100% of the Net Cash Proceeds received by the Borrower or any of
         its Subsidiaries under any policy of insurance of such Person or in
         connection with any condemnation proceeding involving property of such
         Person, unless, so long as no Default or Event of Default has occurred
         and is continuing, such Net Cash Proceeds are utilized by the Borrower
         or such Subsidiary within one hundred eighty (180) days of receipt of
         such Net Cash Proceeds to replace or repair any of its assets damaged
         in connection with the related claim or proceeding.

                  (c)      Regular Quarterly Reductions. Commencing with the
         last day of the fiscal quarter ending June 30, 2003 (the "Conversion
         Date") and continuing through the Revolving Credit Termination Date,
         the Aggregate Commitment shall be reduced on the last day of each
         fiscal quarter in equal quarterly reduction amounts (the "Reduction
         Amounts") equal to the amount required to reduce the Aggregate
         Commitment to $50,000,000 as of September 30, 2004; provided, that
         each of the Reduction Amounts remaining after any reduction pursuant
         to Section 2.6(b) shall be adjusted on a pro rata basis in connection
         with such reduction.

<PAGE>   3
                  (d)      Repayments. Each permanent reduction permitted or
         required pursuant to this Section 2.6 shall be accompanied by a
         payment of principal sufficient to reduce the aggregate outstanding
         Extensions of Credit of the Lenders after such reduction to the
         Aggregate Commitment as so reduced and if the Aggregate Commitment as
         so reduced is less than the aggregate amount of all outstanding
         Letters of Credit, the Borrower shall be required to deposit in a cash
         collateral account opened by the Administrative Agent an amount equal
         to the aggregate then undrawn and unexpired amount of such Letters of
         Credit. Any reduction of the Aggregate Commitment to zero shall be
         accompanied by payment of all outstanding Obligations (and furnishing
         of cash collateral satisfactory to the Administrative Agent for all
         L/C Obligations) and shall result in the termination of the
         Commitments and Credit Facility. Such cash collateral shall be applied
         in accordance with Section 11.2(b). If the reduction of the Aggregate
         Commitment requires the repayment of any LIBOR Rate Loan, such
         repayment shall be accompanied by any amount required to be paid
         pursuant to Section 4.9 hereof."

         (f)      Section 2.7 of the Credit Agreement is hereby deleted in its
entirety and the following Section 2.7 shall be substituted in lieu thereof:

                  SECTION 2.7 Termination of Credit Facility. The Credit
         Facility shall terminate on the earliest of (a) September 30, 2004,
         (b) the date of permanent reduction of the Aggregate Commitment in
         whole pursuant to Section 2.6 and (c) the date of termination by the
         Administrative Agent on behalf of the Lenders pursuant to Section
         11.2(a).

         (g)      The initial clause of Section 2.8 of the Credit Agreement is
hereby deleted in its entirety and the following shall be substituted in lieu
thereof:

         "SECTION 2.8 Increase in Aggregate Commitment. So long as no Default
or Event of Default shall have occurred and be continuing, at any time prior to
the Conversion Date,"

         (h)      Section 4.1(b)(iv) of the Credit Agreement is hereby deleted
in its entirety and the following Section 4.1(b)(iv) shall be substituted in
lieu thereof:

                  "(iv)    no Interest Period shall extend beyond the Revolving
Credit Termination Date; and"

         (i)      Section 4.1(c)(ii) of the Credit Agreement is hereby deleted
in its entirety and the following Section 4.1(c)(ii) shall be substituted in
lieu thereof:

                  "(ii)    upon the initial Adjustment Date and at all times
         thereafter, be determined by reference to the Adjusted Leverage Ratio
         in accordance with the following charts:

<TABLE>
<CAPTION>
                  Adjusted                                 Applicable Margin Per Annum
                  Leverage                                    Prior to April 1, 2003
Level             Ratio                                    LIBOR Rate         Base Rate
-----             -----                                    ----------------------------

<S>    <C>                                                 <C>                  <C>
 1     Greater than or equal to 3.0 to 1.00                 2.000%              0.750%

 2     Less than 3.0 to 1.0 but greater than
       or equal to 2.50 to 1.0                              1.875%              0.625%

 3     Less than 2.5 to 1.0 but greater than
       or equal to 2.0 to 1.0                               1.750%              0.500%
</TABLE>

<PAGE>   4
<TABLE>
<S>    <C>                                                 <C>                  <C>
 4     Less than 2.0 to 1.0 but greater than
       or equal to 1.50 to 1.0                              1.625%              0.375%

 5     Less than 1.50 to 1.0 but greater than
       or equal to 1.0 to 1.0                               1.500%              0.250%

 6     Less than 1.0 to 1.0                                 1.250%              0.000%

<CAPTION>
                  Adjusted                                 Applicable Margin Per Annum
                  Leverage                                    Prior to April 1, 2003
Level             Ratio                                    LIBOR Rate         Base Rate
-----             -----                                    ----------------------------

<S>    <C>                                                 <C>                  <C>
 1     Greater than or equal to 3.0 to 1.00                 2.500%              1.250%

 2     Less than 3.0 to 1.0 but greater than
       or equal to 2.50 to 1.0                              2.375%              1.125%

 3     Less than 2.5 to 1.0 but greater than
       or equal to 2.0 to 1.0                               2.250%              1.000%

 4     Less than 2.0 to 1.0 but greater than
       or equal to 1.50 to 1.0                              2.125%              0.875%

 5     Less than 1.50 to 1.0 but greater than
       or equal to 1.0 to 1.0                               2.000%              0.750%

 6     Less than 1.0 to 1.0                                 1.750%              0.500%
</TABLE>

                  Adjustments, if any, in the Applicable Margin shall be made
         by the Administrative Agent on the tenth (10th) Business Day (the
         "Adjustment Date") after receipt by the Administrative Agent of
         financial statements for the Borrower and its Subsidiaries delivered
         under Section 7.1(a) or (b), as applicable, and the accompanying
         Officer's Compliance Certificate setting forth the Adjusted Leverage
         Ratio of the Borrower and its Subsidiaries as of the most recent
         fiscal quarter end. The Administrative Agent agrees to give the
         Borrower and the Lenders notice of any adjustment in the Applicable
         Margin within two (2) Business Days of such adjustment; provided, that
         the Administrative Agent's failure to give such notice shall not
         result in any liability to the Administrative Agent or in any way
         affect the validity of any such adjustment. In the event the Borrower
         fails to deliver such financial statements and certificate within the
         time required by

<PAGE>   5
         Sections 7.1(a) and 7.2 hereof, the Applicable Margin shall be the
         highest Applicable Margin set forth above until the delivery of such
         financial statements and certificate unless at such time the
         outstanding principal balance of the Loans are bearing interest at the
         "default rate" set forth in Section 4.1(d) below in which case the
         Applicable Margin shall not be increased pursuant to this sentence."

         (j)      Section 9.4 of the Credit Agreement is hereby deleted in its
entirety and the following Section 9.4 shall be substituted in lieu thereof:

         SECTION 9.4 Capital Expenditures. Permit Capital Expenditures plus the
         aggregate investments permitted by Sections 10.4(d) and (f) made by
         the Borrower and its Subsidiaries after the Closing Date (excluding
         any investment to the extent funded with the capital stock of the
         Borrower) to be greater than the following amounts in the aggregate
         during the following Fiscal Years:

<TABLE>
<CAPTION>
                              Fiscal Year                   Capital Expenditures
                              -----------                   --------------------
                              <S>                           <C>
                              1998 (including only the
                              portion thereof remaining
                              after the Closing Date)       $ 35,000,000
                              1999                          $ 75,000,000
                              2000                          $ 90,000,000
                              2001                          $100,000,000
                              2002                          $ 80,000,000
                              2003 and thereafter           $ 80,000,000
</TABLE>

         provided, that (a) investments in any single restaurant unit owned by
         a Non-Controlled Joint Venture shall not exceed $1,500,000, (b)
         investments in Non-Controlled Joint Ventures shall not exceed
         $22,500,000 in the aggregate on any date of determination and (c) in
         no event shall more than forty percent (40%) of aggregate Capital
         Expenditures permitted in any Fiscal Year be used for Capital
         Expenditures with respect to The Capital Grille and Bugaboo Creek
         Steak House restaurants, on a combined basis. For the purposes of this
         Section 9.4 "Non-Controlled Joint Venture" shall mean a joint venture
         in which the Borrower and its Subsidiaries do not own more than fifty
         percent (50%) of the outstanding capital stock or other ownership
         interests having ordinary voting power to elect a majority of the
         board of directors or other managers of such Person.

         (k)      Section 10.1(d) of the Credit Agreement is hereby amended by
deleting the number "$20,000,000" set forth therein and substituting therefore
the number "$40,000,000".

         (l)      Section 10.7(d) of the Credit Agreement is hereby deleted in
its entirety and the following Section 10.7(d) shall be substituted in lieu
thereof:

                  "(d)     the Borrower may purchase, redeem, retire or
         otherwise acquire shares of its capital stock in an aggregate amount
         not to exceed $10,000,000 for the period from and including the date
         of the Second Amendment through and including the Revolving Credit
         Termination Date (plus, up to $10,000,000 of the Net Cash Proceeds
         received by the Borrower or any of its Subsidiaries prior to the
         Conversion Date from any sale of assets permitted pursuant to Section
         10.6(f) above); and"

         4.       Waivers of Credit Agreement. The Borrower and its
Subsidiaries intend to enter into a corporate restructuring (the "Corporate
Restructuring") pursuant to which, among other things, (a) certain assets will
be transferred to Bugaboo Creek Steakhouse, Inc. ("Bugaboo"), (b) the entities
owning substantially all of the operations of The Capital Grille restaurants
will be merged into The Capital Grille of Charlotte, Inc., which entity will
change its name to Capital Grille Holdings, Inc. ("Capital Grille Holdings"),
(c) the entities owning substantially all of the operations of Bugaboo Creek
Steak House restaurants will be merged into Bugaboo Creek of Newark, Inc.,
which entity will change its name to Bugaboo Creek Holdings, Inc. ("Bugaboo
Creek Holdings") (d) the operations of Old Grist Mill and Hemenways restaurants
will each be consolidated into separate holding companies named Grist Mill
Holdings, Inc. ("Grist Mill Holdings") and Hemenway Holdings, Inc. ("Hemenway
Holdings"), respectively, and (e) Bugaboo will enter into transactions

<PAGE>   6
with certain Affiliates to manage the operations of restaurants they own. The
Administrative Agent and the Lenders hereby agree to waive the provisions of
Sections 10.4, 10.5, 10.6 and 10.8 solely to permit the Corporate
Restructuring; provided, that (i) each of the Borrower and Bugaboo shall
survive the Corporate Restructuring; provided, that Bugaboo shall be permitted
to change its name to Rare Hospitality Management, Inc., (ii) each of Capital
Grille Holdings, Bugaboo Creek Holdings, Grist Mill Holdings and Hemenway
Holdings shall be Wholly-Owned Subsidiaries of Bugaboo, (iii) neither the
Borrower nor Bugaboo shall make any sale or transfer of assets in connection
with the Corporate Restructuring except for a sale or transfer of assets to
their respective Wholly-Owned Subsidiaries, (iv) neither the Borrower nor
Bugaboo shall make any investments in connection with the Corporate
Restructuring except investments in their respective Wholly-Owned Subsidiaries
and (v) the Borrower and Bugaboo shall provide such documents reasonably
requested by the Administrative Agent reflecting the name change of Bugaboo to
Rare Hospitality Management, Inc., including without limitation, new stock
certificates and stock powers pledged pursuant to the Pledge Agreement.

         5.       Representations and Warranties/No Default. By its execution
hereof, the Borrower hereby certifies that (giving effect to this Second
Amendment) each of the representations and warranties set forth in the Credit
Agreement and the other Loan Documents is true and correct in all material
respects as of the date hereof as if fully set forth herein, except to the
extent that such representations and warranties expressly relate to an earlier
date (in which case such representations and warranties shall have been true
and correct in all material respects on and as of such earlier date), and that
as of the date hereof no Default or Event of Default has occurred and is
continuing.

         6.       Fees. The Borrower shall pay (a) to each of the Lenders party
to this Second Amendment an amendment fee in an amount equal to the product of
(i) .10% multiplied by (ii) the commitment of such Lender under the Credit
Agreement and (b) to the Administrative Agent, the fees set forth in a separate
fee letter of even date herewith.

         7.       Expenses. The Borrower shall pay all reasonable out-of-pocket
expenses of the Administrative Agent in connection with the preparation,
execution and delivery of this Second Amendment, including without limitation,
the reasonable fees and disbursements of counsel for the Administrative Agent.

         8.       Governing Law. This Second Amendment shall be governed by and
construed in accordance with the laws of the State of North Carolina.

         9.       Counterparts. This Second Amendment may be executed in
separate counterparts, each of which when executed and delivered is an original
but all of which taken together constitute one and the same instrument.

<PAGE>   7
         IN WITNESS WHEREOF, the parties hereto have caused this Second
Amendment to be duly executed as of the date and year first above written.

[CORPORATE SEAL]        RARE HOSPITALITY INTERNATIONAL,
                        INC.

                              By:
                                 ----------------------------------------------
                              Name:
                                   --------------------------------------------
                              Title:
                                   --------------------------------------------

                              FIRST UNION NATIONAL BANK,
                              as Administrative Agent, Lender, Swingline Lender
                              and Issuing Lender

                              By:
                                 ----------------------------------------------
                                    Name:
                                         --------------------------------------
                                    Title:
                                          -------------------------------------

                              BANKBOSTON, N.A., as Co-Agent and as Lender

                              By:
                                 ----------------------------------------------
                                    Name:
                                         --------------------------------------
                                    Title:
                                          -------------------------------------

                              FLEET NATIONAL BANK, as Co-Agent and as
                              Lender

                              By:
                                 ----------------------------------------------
                                    Name:
                                         --------------------------------------
                                    Title:
                                          -------------------------------------

                              SOUTHTRUST BANK, N.A., as Lender

                              By:
                                 ----------------------------------------------
                                    Name:
                                         --------------------------------------
                                    Title:
                                          -------------------------------------

                              THE FUJI BANK, LIMITED, as Lender

                               By:
                                  ---------------------------------------------
                                     Name:
                                          -------------------------------------
                                     Title:
                                           ------------------------------------

<PAGE>   8
                              AMSOUTH BANK, as Lender

                              By:
                                 ----------------------------------------------
                                    Name:
                                         --------------------------------------
                                    Title:
                                          -------------------------------------

                              WACHOVIA BANK, N.A., as Lender

                              By:
                                 ----------------------------------------------
                                    Name:
                                         --------------------------------------
                                    Title:
                                          -------------------------------------

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