Document:

<PAGE>
                                                                    EXHIBIT 10.5

                             Buffets Holdings, Inc.
                                  Buffets, Inc.
                         c/o Caxton-Iseman Capital, Inc.
                               667 Madison Avenue
                            New York, New York 10021

September 28, 2000

C. Dennis Scott
2241 Kettner Blvd.
Suite 260
San Diego, CA 92101

Dear Dennis:

                  This letter agreement (the "Agreement") states the terms under
which Buffets Holdings, Inc., a Delaware corporation ( "Holding Co."), and
Buffets, Inc., a Minnesota corporation ("Buffets"), have agreed to retain you as
an advisor and you have agreed to provide services to both Holding Co. and
Buffets as an advisor. Holding Co. and Buffets are hereinafter collectively
referred to as the "Companies".

                  1. Service Period. The "Service Period" shall mean the period
beginning on the date hereof and ending on the earlier of (i) the last day of
the Buffets's fiscal year 2005, or (ii) the date this Agreement is terminated
pursuant to Section 4.

                  2. Advisory Services and Relationship.

                  (a) Services. During the Service Period, you will provide
advisory services to the Companies's boards of directors, shareholders, and
designated senior officers with respect to board of directors meetings and
preparation for board of directors meetings, and such other advisory services as
may be mutually agreed upon by you and the Companies; provided, however, in no
event shall you be required (unless you otherwise consent) to devote more than
an equivalent of 2 days per calendar month to providing advisory services,
including attending board of directors meetings.

                  (b) Relationship. You shall be an employee of the Companies
within the meaning of all federal, state and local laws and regulations
governing employment insurance, workers' compensation, industrial accident,
labor and taxes. Except as specifically authorized, this Agreement does not
grant you any authority to act as an agent for the Companies or any of their
affiliates and you shall not represent to the
contrary to any person.

<PAGE>

                                                                               2

                  3. Fees and Other Benefits.

                  (a) Cash Compensation. In consideration for the services
rendered hereunder, Buffets shall pay you an amount ("Cash Compensation") equal
to your current salary and bonus for the balance of its fiscal year 2000 in
accordance with its regular payroll practices.

                  (b) Facilities. During the Service Period you shall be
provided, without charge, with your current office and secretarial assistance as
currently provided and other staff assistance at Buffets's regional offices in
southern California in accordance with past practice.

                  (c) Business Expense Reimbursement. Reasonable business
expenses incurred by you during the Service Period, including the current auto
reimbursement program, in connection with the performance of your duties
hereunder shall be promptly reimbursed by Buffets in accordance with its
policies.

                  (d) Participant in Health and Welfare Plans. During the
Service Period, Buffets shall continue to provide you and your family with
health insurance benefits on the same basis as are from time to time provided to
senior executives of Buffets. Except as provided in the preceding sentence,
during the Service Period you shall not be eligible to participate in any
pension, profit-sharing, saving, retirement, deferred compensation, stock
option, stock purchase, severance pay, bonus, incentive, life, disability,
accident insurance, vacation or any other employee benefit plan, program or
arrangement sponsored, maintained or contributed to by any of the Companies.

                  4. Termination; Severance Payments. Notwithstanding any other
provision of this Agreement:

                  (a) Termination for Cause by the Companies. This Agreement and
your service as an employee may be terminated by the Companies for Cause in
accordance with this Section 4(a). If you are terminated for Cause in accordance
with this Section 4(a), all Cash Compensation, benefits and other perquisites
provided to you pursuant to this Agreement shall immediately cease and you shall
be solely entitled to receive your accrued, but unpaid, Cash Compensation, if
any, through the date of such termination, plus any previously-incurred, but
unreimbursed, business expenses, in accordance with Section 3(c).

                  For purposes of this Agreement, "Cause" shall mean (i) your
material breach of the noncompetition, nonsolicitation or confidentiality
provisions set forth in the Buffets Holdings, Inc. Stockholders' Agreement,
dated as of September 28, 2000 (the "Stockholders' Agreement"), whether or not
such agreement or requirement is enforceable under applicable law, (ii) your
failure or refusal after receipt of written notice to abide by, in any material
respect, the reasonable policies or directives of the Board of Directors of
Holding Co. (the "Board"), or (iii) your conviction of, or pleading nolo
contendere to, a crime involving moral turpitude. Notwithstanding the foregoing,
this

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                                                                               3

Agreement and your service as an employee shall not be deemed to have been
terminated for Cause pursuant to clause (ii) until ten (10) days after there
shall have been delivered to you a written notice setting forth in reasonable
detail the particulars forming the basis for such termination and you shall be
given the opportunity to be heard during such ten (10) day period by the Board
respecting the matters set forth in such notice.

                  (b) Disability or Death. This Agreement and your service as an
employee may be terminated by you or the Companies upon your death or
"Disability" in accordance with this Section 4(b). Upon termination of this
Agreement and your service as an employee for either death or Disability in
accordance with this Section 4(b), all Cash Compensation, benefits and other
perquisites provided to you pursuant to Section 3 hereof shall continue to be
provided to you or your beneficiaries or estate (as the case may be) for the
remainder of the calendar year in which your death or Disability occurs.

                  For purposes of this Agreement, "Disability" shall mean any
event of disability under any disability insurance plan maintained by Buffets in
which you are eligible to participate, or if there shall be no such disability
plan, then your inability to perform your duties as an advisor to the Companies
and their affiliates for any period of at least 90 days during any consecutive
six month period.

                  (c) Without Cause by the Companies. This Agreement and your
service as an employee may be terminated at any time by the Companies without
Cause. Upon termination of this Agreement and your service as an employee by the
Companies without Cause in accordance with this Section 4(c), you shall continue
to receive the Cash Compensation, benefits and other perquisites you were
otherwise entitled to receive pursuant to Section 3 hereof through the end of
Buffets's fiscal year 2005.

                  (d) Voluntary Resignation. You may terminate this Agreement
and your service as an employee at any time by providing at least 30 days'
written notice to the Companies. Upon termination of this Agreement and your
service as an employee due to your voluntary resignation in accordance with this
Section 4(d), all benefits and perquisites provided to pursuant to this
Agreement shall immediately cease and you shall be solely entitled to receive
your Cash Compensation for the remainder of the calendar year in which such
termination occurs, plus any previously-incurred, but unreimbursed business,
expenses, in accordance with Section 3(c). Notwithstanding the foregoing,
Buffets may, in its sole discretion, elect to continue to provide you with the
Cash Compensation, benefits and other perquisites you were otherwise eligible to
receive pursuant to Section 3 hereof.

                  5. Purchase of Incentive Equity.

                  (a) Issuance of Incentive Equity. Subject to the restrictions
and conditions set forth below, Holding Co. is on the date hereof selling and
issuing to you, 16,250 shares of Holding Co. common stock, par value $.01 per
share, (hereinafter called the "Incentive Shares") for an aggregate
consideration of One Hundred Sixty Two

<PAGE>
                                                                               4

Thousand Five Hundred Dollars ($162,500) (the "Purchase Price"), which Purchase
Price shall be paid at the time and in the manner set forth in the Buffet
Holdings, Inc. Subscription Agreement, dated as of September 28, 2000 (the
"Subscription Agreement"). The Purchase Price is the fair market value of the
Incentive Shares as of the date hereof, determined without regard to any
restrictions applicable thereto.

                  (b) Vesting of Incentive Shares. The Incentive Shares shall be
fully vested as of the date hereof.

                  (c) Restrictions; Repurchase Rights. The Incentive Shares
shall be held subject to all the restrictions and limitations set forth in the
Stockholders' Agreement and the repurchase and other rights set forth below:

                    (i) In the event this Agreement and your service as an
employee is terminated by the Companies for Cause in accordance with Section
4(a) hereof, Holding Co. shall have the right (a "Call Right") exercisable for a
period of one year following the date of the termination of your service to
repurchase all or a portion of the Incentive Shares at a purchase price per
share to be calculated in the manner set forth in Section 4.8(b) of the
Stockholders' Agreement for the repurchase of a Management Stockholder's
Incentive Stock in the event his or her employment is terminated for "Cause."
The exercise of a Call Right and the consummation of the repurchase shall be
subject to the procedures set forth in Section 4.8(e) and Section 4.12 of the
Stockholders' Agreement.

                    (ii) In the event this Agreement and your service as an
employee is terminated as a result of your death or Disability in accordance
with Section 4(b) hereof, or by the Companies without Cause in accordance with
Section 4(c) hereof, then you (or your estate or Permitted Transferees, if
applicable) shall have the right (a "Put Right") exercisable for a period of one
year following the date of the termination of your service to require Holding
Co. to purchase all, but not less than all, of the Incentive Shares at a
purchase price per share to be calculated in the manner set forth in Section 4.9
of the Stockholders' Agreement. The exercise of a Put Right and the consummation
of the repurchase shall be subject to the procedures set forth in Section 4.8(e)
and Section 4.12 of the Stockholders' Agreement.

                  (d) Notwithstanding any provision of Section 5 of this
Agreement, the exercise of a Call Right pursuant to Sections 5(c)(i) hereof or
the exercise of a Put Right pursuant Section 5(c)(ii) hereof shall be subject to
all of the deferred payment provisions set forth in Section 4.10 of the
Stockholders' Agreement.

                  (e) As a condition to the receipt of the Incentive Shares you
hereby agree to elect to be taxed under Section 83 of the Internal Revenue Code
of 1986, as amended (the "Code") to the extent the fair market value of the
Incentive Shares exceeds the Purchase Price by executing and delivering a valid
election under Section 83(b) of the Code to the Internal Revenue Service and to
Holding Co. within 30 days of the date hereof.

<PAGE>
                                                                               5

                  6. Successors.

                  (a) This Agreement is personal to you and shall not be
assignable by you without the prior written consent of the Companies.

                  (b) This Agreement shall inure to the benefit of and be
binding upon the Companies and their successors or assigns.

                  7. Liability; Indemnity.

                  (d) In no event shall you be liable to the Companies for lost
profits of the Companies, or special, incidental or consequential damages (even
if you have been advised of the possibility of such damages) except with respect
to your fraud or intentional misrepresentation.

                  (e) Your total liability under this Agreement, if any, for
damages, costs and expenses, regardless of cause (other than with respect to
your fraud or intentional misrepresentation), shall not exceed the total amount
of compensation paid to you under this Agreement.

                  (f) You shall not be liable for any claim or demand made
against the Companies by any third party other than with respect to your fraud
or intentional misrepresentation.

                  (g) The Companies shall indemnify you against all claims,
liabilities and costs, including reasonable attorney fees incurred in defending
any third party claim or suit arising out of or in connection with this
Agreement. You shall promptly notify the Companies in writing of such claim or
suit and the Companies shall have the right to fully control the defense and any
settlement of the claim or suit; provided, however, that any settlement which
would require any action or payment by you, or would require you to undertake
certain actions or to refrain from acting, shall be subject to your prior
written approval.

                  8. Miscellaneous.

                  (a) This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without reference to its
principles of conflict of laws or such principles of any other jurisdiction
which could cause the application of the laws of any jurisdiction other than the
State of Delaware.

                  (b) This Agreement, the Stockholders' Agreement, the
Subscription Agreement and a side letter relating to certain tax payments
arising from the acceleration of options to acquire stock of Buffets state the
entire agreement and understanding of the parties on the subject matter
discussed herein, and supersedes all previous agreements, arrangements,
communications and understandings relating to that subject matter.

<PAGE>
                                                                               6

                  (c) This Agreement may be amended, modified, superseded, or
canceled, and any of the terms may be waived, only by a written agreement
executed by the parties hereto or their respective successors or legal
representatives.

                  (d) The captions of this Agreement are not part of the
provisions hereof and shall have no force or effect.

                  (e) All notices and other communications hereunder shall be in
writing and shall be given by hand delivery to the other party or by registered
or certified mail, return receipt requested, postage prepaid, or by recognized
overnight courier, to the addresses listed above or to such other address as
either party shall have furnished to the other in writing in accordance
herewith.

                  (f) The invalidity or unenforceability of any provision of
this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement.

                  (g) The failure of the Companies at any time to enforce
performance by you of any provisions of this Agreement shall in no way affect
the Companies' rights thereafter to enforce the same, nor shall the waiver by
the Companies of any breach of any provision hereof be held to be a waiver of
any other breach of the same or any other provision.

                  (h) The Companies may withhold from any amounts payable under
this Agreement such federal, state or local taxes as shall be required to be
withheld pursuant to any applicable law or regulation.

         Please sign below to indicate your agreement to the terms described
herein.

                           Very truly yours,

                            /s/ Frederick J. Iseman
                           -----------------------------------------------------
                           Frederick J. Iseman
                           President
                           Buffets Holdings, Inc.

                            /s/ R. Michael Andrews, Jr.
                           -----------------------------------------------------
                           R. Michael Andrews, Jr.
                           Executive Vice President & Chief Financial Officer
                           Buffets, Inc.

AGREED to by C. Dennis Scott

<PAGE>
                                                                               7

 /s/ C. Dennis Scott
---------------------
Date:  September 28, 2002<PAGE>
                                                                    Exhibit 10.6

[U.S. BANK LOGO]                   GUARANTY

--------------------------------------------------------------------------------

Guarantor  BUFFETS, INC.                Bank   U.S. BANK NATIONAL ASSOCIATION
           -------------------------           -------------------------------

Address    1460 BUFFET WAY              Address    601 SECOND AVENUE SOUTH
           -------------------------               ---------------------------
           EAGAN, MN 55121

Guarantor                                          MINNEAPOLIS, MN 55402
           -------------------------               ---------------------------

Address                                  Borrower  Kerry A. Kramp
           -------------------------               ---------------------------

--------------------------------------------------------------------------------

For valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and in consideration of:

[ ] Financial accommodations of any kind, with or without security, given or
to be given or continued at any time and from time to time by the Bank or for
the account of the Borrower.

[X] (Other) PROMISSORY NOTE DATED SEPTEMBER 28, 2000 EXECUTED AND DELIVERED
BY BORROWER TO BANK IN THE ORIGINAL SUM OF $407,000.00.

The undersigned absolutely and unconditionally guarantees to the Bank:

[ ]   The payment and performance of each and every debt, liability and
      obligation of every type and description which the Borrower may now or at
      any time owe to the Bank, including interest thereon, whether now existing
      or hereafter arising, direct or indirect, due or to become due, absolute
      or contingent, primary or secondary, liquidated or unliquidated,
      independent, joint, several or joint and several (including without
      limitation, obligations arising after filing of a bankruptcy petition, and
      obligations of the Borrower arising from the creation of banker's
      acceptances by the Bank, the issuance of letters of credit by the Bank for
      the account of the Borrower, and the use by the Borrower of cash
      management services provided by the Bank); or

[X]   The payment of a promissory note dated SEPTEMBER 28, 2000, executed and
      delivered by the Borrower to the Bank in the original principal sum of $
      407,000.00 with interest and other charges as therein provided, and all
      extensions, renewals and replacements thereof.

[ ]   The payment of a ______________________ dated ____________________,
      executed and delivered by the Borrower to the Bank in the original
      principal sum of $____________________ with interest and other charges as
      therein provided, and all extensions, renewals and replacements thereof.

      All of the above-described guaranteed obligations are hereinafter
collectively referred to as the "Indebtedness." The undersigned agrees to pay on
demand all costs, expenses and attorneys' fees paid or incurred by the Bank in
connection with the Indebtedness, any security therefor and this guaranty, plus
interest on such amounts at the highest rate then applicable to any of the
Indebtedness, not to exceed the highest rate permitted by law.

      The undersigned agrees that, in the event of the death, incompetence,
dissolution or insolvency of the Borrower or the undersigned, or the inability
of the Borrower or the undersigned to pay debts as they mature, or an assignment
by the Borrower or the undersigned for the benefit of creditors, or the
institution of any proceeding by or against the Borrower or the undersigned
alleging that the Borrower or the undersigned is insolvent or unable to pay
debts as they mature, and if such event shall occur at a time when any of the
Indebtedness may not then be due and payable the undersigned will pay to the
Bank forthwith the full amount which would be payable hereunder by such
undersigned if all of the Indebtedness were then due and payable.

      Notwithstanding the aggregate amount of Indebtedness which may be payable
at any time or from time to time, the liability of the undersigned hereunder
shall not exceed the principal sum of $ 407,000.00 (if no amount stated, the
undersigned shall be liable for all Indebtedness, without any limitation as to
amount) plus accrued interest thereon and the costs, expenses and attorneys'
fees described herein. Such liability shall not be released, impaired or
affected if at any time the Indebtedness exceeds that amount, and the Bank may
apply first in payment of such excess all sums received from the Borrower, from
security for the Indebtedness, or from any other source without releasing,
impairing or affecting such liability. If the liability of the undersigned is
limited hereunder, any payment made by the undersigned under this guaranty shall
be effective to reduce or discharge such liability only if accompanied by a
written statement, received by the Bank, advising the Bank that such payment is
made under this guaranty for such purpose.

      The Bank may at any time and from time to time, without the consent of or
notice to the undersigned, without incurring responsibility to the undersigned,
and without releasing, impairing or affecting the liability of the undersigned
hereunder, upon or without any terms or conditions, and in whole or in part: (1)
sell, pledge, surrender, compromise, settle, release, renew, subordinate,
extend, substitute, exchange, change, or otherwise dispose or deal with in any
manner and in any order any Indebtedness, any evidence thereof, or any security
therefor; (2) accept any security for or other guarantors of any Indebtedness;
(3) fail, neglect or omit to obtain, realize upon or protect any Indebtedness or
any security therefor, to exercise any lien upon or right to any money, credit
or property, or to exercise any other right against the Borrower, the
undersigned or any other person; and (4) apply any payments and credits to the
Indebtedness in any manner and in any order. No act or thing, except full
payment of the Indebtedness, which but for this provision could act as a release
or impairment of the liability of the undersigned hereunder, shall in any way
release, impair or affect the liability of the undersigned hereunder. The
undersigned waives any and all defenses of the Borrower pertaining to the
Indebtedness, any evidence thereof, and any security therefor, except the
defense of discharge by payment. The failure of any person or persons to sign
this or any other guaranty shall not release, impair or affect the liability of
the undersigned hereunder. This guaranty is a primary obligation of the
undersigned and the Bank shall not be required to first resort for payment of
the Indebtedness to the Borrower or any other person or their properties, or any
security or other rights or remedies whatsoever. The undersigned shall be and
remain liable for any deficiency remaining after foreclosure of any mortgage or
security interest securing the Indebtedness, whether or not the liability of the
Borrower or any other person for such deficiency is discharged pursuant to
statute, judicial decision or otherwise.
<PAGE>
The liability of the undersigned under this guaranty is in addition to and shall
be cumulative with all other liabilities of the undersigned to the Bank, as
guarantor or otherwise, without any limitation as to amount, unless the writing
evidencing or creating such other liability specifically provides to the
contrary. If any payment applied by the Bank to the Indebtedness is thereafter
set aside, recovered, rescinded or required to be returned for any reason
(including without limitation the bankruptcy, insolvency or reorganization of
the Borrower or any other person), the indebtedness to which such payment was
applied shall for the purposes of this guaranty be deemed to have continued in
existence, notwithstanding such application, and this guaranty shall be
enforceable as to such Indebtedness as fully as if such application had never
been made.

The undersigned waives: (1) notice of acceptance of this guaranty and of the
creation and existence of the Indebtedness; (2) presentment, demand for payment,
notice of dishonor, notice of nonpayment, and protest of any instrument
evidencing the Indebtedness; and (3) all other demands and notices to the
undersigned or any other person and all other actions to establish the liability
of the undersigned hereunder.

      As to the undersigned, this guaranty shall continue until written notice
of revocation signed by the undersigned shall be received by the Bank, and until
all Indebtedness then existing and all other costs, expenses and attorneys' fees
arising from such Indebtedness shall be fully paid and retired. No revocation or
termination hereof by the undersigned shall release, impair or affect in any
manner any liability hereunder with respect to (1) Indebtedness created,
contracted, assumed or incurred prior to receipt by the Bank from or on behalf
of such undersigned of written notice of revocation or the death of such
undersigned, or (2) Indebtedness created, contracted, assumed or incurred after
receipt of such notice pursuant to any contract entered into by the Bank prior
to receipt of such notice, or any renewals or extension thereof, theretofore or
thereafter made, or (3) all other costs, expenses and attorneys' fees arising
from such Indebtedness.

      The undersigned agrees to furnish Bank, upon demand, so long as any part
of the Indebtedness may be outstanding, a financial statement setting forth in
reasonable detail, the assets, liabilities and net worth of the undersigned,
and, upon failure to furnish such a financial statement upon demand, the Bank
may, at its option, demand payment in full of all Indebtedness, whether or not
then due, and the undersigned shall immediately pay all such Indebtedness to the
Bank.

      The undersigned agrees, if the Borrower is not an individual, that all
payments made by such undersigned hereunder shall be deemed to be equity
contributions by such undersigned to the Borrower. The undersigned waives all
rights of contribution, reimbursement, recourse and subrogation available to
such undersigned against any person liable for payment of the Indebtedness or as
to any collateral security therefore. No delay or failure by the Bank in
exercising any right or remedy, and no partial or single exercise thereof shall
constitute a waiver thereof or shall preclude other or further exercise of any
such or other right or remedy. No waiver of any rights hereunder, and no
modification or amendment of this guaranty shall be effective unless the same is
in writing duly executed by the Bank, and each such waiver, if any, shall apply
only with respect to the specific instance involved and shall not impair or
affect the rights of the Bank or the provisions of this guaranty in any other
respect at any other time.

      The undersigned acknowledges that such undersigned has independently
evaluated the credit of the Borrower and that such undersigned is not in any way
relying on any representations made by the Bank as to the Borrower, the
Indebtedness or any collateral security therefor or other guarantors or
endorsers, co-signers or sureties thereof, or any related matters. The
undersigned acknowledges that this guaranty is given for adequate value and
consideration and that such undersigned has received a direct economic or other
benefit from the financial accommodations of the Bank to the Borrower giving
rise to the Indebtedness.

      The undersigned's liability under this guaranty is not conditioned upon
the signing of this or any other guaranty by any other person. This guaranty
takes the place of any conversations or oral agreements.

      If this guaranty is executed by more than one signer, all agreements
herein shall be joint and several in each and every particular, and shall be
fully binding upon and enforceable against either, any and all of such signers,
and neither the release of, nor the revocation or termination of this guaranty
with respect to one or more signers shall affect or release the liability of any
other signer hereunder as to Indebtedness then existing or thereafter created,
contracted, assumed or incurred and all other costs, expenses and attorneys'
fees arising from such Indebtedness. Any invalidity or unenforceability of any
provision or application of this guaranty shall not affect other lawful
provisions and applications hereof and to this end the provisions of this
guaranty are declared to be severable. This guaranty shall be binding upon the
undersigned and upon the heirs, representatives, successors and assigns of the
undersigned, and of each of them respectively, and shall inure to the benefit of
the Bank, its successors and assigns. This guaranty shall be governed by and
construed in accordance with the laws of the State in which the Bank is located,
giving effect to any federal laws applicable to the Bank. The undersigned
consents to the personal jurisdiction of the state and federal courts located in
the state in which the Bank is located in connection with any controversy
related to this guaranty or the Indebtedness, waives any argument that venue in
such forum is not convenient, and agrees that any litigation instigated by such
undersigned against the Bank in connection with this guaranty or the
Indebtedness shall be venued in either the state courts of general jurisdiction
or the federal district courts in the city, county or state where the Bank is
located.

The undersigned waives its, his or her right to a trial by jury in connection
with any action relating to this guaranty or the Indebtedness.

Dated this 28TH of SEPTEMBER, 2000   .
           ----    -------------------

                                                GUARANTOR(S)

<TABLE>
<S>                                                       <C>
                                                              BUFFETS, INC.

T.I.N. or Soc. Sec. No.              --  --               By:   /s/ H. Thomas Mitchell    It's:      EVP
                         ----------------------------         --------------------------------------------------

T.I.N. or Soc. Sec. No.              --  --               By:   /s/ Clark C. Grant        It's:      SVP
                         ----------------------------         --------------------------------------------------

T.I.N. or Soc. Sec. No.              --  --               By:                             It's:      EVP
                         ----------------------------         --------------------------------------------------

T.I.N. or Soc. Sec. No.              --  --               By:                             It's:      EVP
                         ----------------------------         --------------------------------------------------
</TABLE>

                                       2

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