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<ACCESSION-NUMBER>0000950144-05-005793
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20050516
<ITEMS>1.01
<ITEMS>9.01
<FILING-DATE>20050520
<DATE-OF-FILING-DATE-CHANGE>20050520
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>ALEXANDERS J CORP
<CIK>0000103884
<ASSIGNED-SIC>5812
<IRS-NUMBER>620854056
<STATE-OF-INCORPORATION>TN
<FISCAL-YEAR-END>0103
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-08766
<FILM-NUMBER>05848935
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>3401 WEST END AVE
<STREET2>P O BOX 24300
<CITY>NASHVILLE
<STATE>TN
<ZIP>37203
<PHONE>6152691900
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>3401 WEST END AVE
<STREET2>SUITE 260
<CITY>NASHVILLE
<STATE>TN
<ZIP>37203
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>VOLUNTEER CAPITAL CORP / TN /
<DATE-CHANGED>19920703
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>WINNERS CORP
<DATE-CHANGED>19890910
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>VOLUNTEER CAPITAL CORP
<DATE-CHANGED>19820520
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>g95500e8vk.htm
<DESCRIPTION>J. ALEXANDER'S CORPORATION
<TEXT>
<HTML>
<HEAD>
<TITLE>J. Alexander's Corporation</TITLE>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 18pt"><B><HR size="1" noshade width="26%" align="center" color="#000000"></B>

<P align="center" style="font-size: 18pt"><B>CURRENT REPORT</B>


<P align="center" style="font-size: 12pt"><B>Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934</B>


<P align="center" style="font-size: 10pt">Date of Report (Date of earliest event reported): May&nbsp;20, 2005 (May&nbsp;16, 2005)


<P align="center" style="font-size: 24pt"><B>J. ALEXANDER&#146;S CORPORATION<BR>
<HR size="1" noshade width="100%" align="center" color="#000000"></B>


<DIV align="center" style="font-size: 10pt">(Exact name of registrant as specified in its charter)</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD align="center" valign="top">Tennessee
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">1-08766
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">62-0854056</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of Incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
</TR>
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</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">3401 West End Avenue, Suite&nbsp;260, P.O. Box 24300, Nashville, Tennessee 37202


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">
(Address of principal executive offices) (Zip Code)</DIV>



<P align="center" style="font-size: 10pt">(615)&nbsp;269-1900


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">
(Registrant&#146;s telephone number, including area code)</DIV>



<P align="center" style="font-size: 10pt">Not Applicable


<DIV align="center" style="font-size: 10pt"><HR size="1" noshade width="100%" align="center" color="#000000">
(Former name or former address, if changed since last report)</DIV>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (<I>see </I>General
Instruction A.2. below):


<P align="left" style="font-size: 10pt"><FONT style="font-family: Wingdings">&#111;</FONT> Written communications pursuant to Rule&nbsp;425 under the Securities Act
(17 CFR 230.425)



<P align="left" style="font-size: 10pt"><FONT style="font-family: Wingdings">&#111;</FONT> Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17
CFR 240.14a-12)



<P align="left" style="font-size: 10pt"><FONT style="font-family: Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the
Exchange Act (17
CFR 240.14d-2(b))

<P align="left" style="font-size: 10pt"><FONT style="font-family: Wingdings">&#111;</FONT>
Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the
Exchange Act (17
CFR 240.13e-4(c))


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD></TD><TD colspan="8"><A HREF="#000">Item&nbsp;1.01. Entry into a Material Definitive Agreement.</A></TD></TR>
<TR><TD></TD><TD colspan="8"><A HREF="#001">Item&nbsp;9.01. Financial Statements and Exhibits.</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURE</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">EXHIBIT INDEX</A></TD></TR>
<TR><TD colspan="9"><A HREF="g95500exv10xbby.txt">Ex-10(bb)  J. Alexander's Corporation Cash Incentive Performance Program</A></TD></TR>
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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>


<!-- link2 "Item&nbsp;1.01. Entry into a Material Definitive Agreement." -->
<DIV align="left"><A NAME="000"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;1.01. Entry into a Material Definitive Agreement.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On May&nbsp;16, 2005, after consideration of the performance of J. Alexander&#146;s Corporation (the
&#147;Company&#148;) and the individuals noted and such other matters and information as deemed appropriate,
the Compensation Committee (the &#147;Committee&#148;) of the Board of Directors of the Company approved the
following:

<P align="left" style="font-size: 10pt"><I>Cash Incentive Performance Program. </I>The J. Alexander&#146;s Corporation Cash Incentive Performance
Program (&#147;CIPP&#148;) is intended to provide incentives to the Company&#146;s senior executive officers and
other executive employees as determined by the Committee in the form of cash bonus payments for
achieving certain performance goals established by the Committee. The performance awards will be
based on achievement of established earnings before interest, taxes, depreciation, amortization,
pre-opening costs and stock option expense as well as other criteria specific to the individual.
Actual awards can range from zero to 100% of a participant&#146;s base salary. The Committee will
administer and make all determinations under the CIPP.


<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->
<DIV align="left"><A NAME="001"></A></DIV>

<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">(c)&nbsp;&nbsp;</TD>
    <TD>Exhibits:</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>The following exhibit is furnished herewith:</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="5%" style="background: transparent">&nbsp;</TD>
    <TD width="4%" nowrap align="left">&nbsp;&nbsp;&nbsp;</TD>
    <TD>10(bb) J. Alexander&#146;s Corporation Cash Incentive Performance Program</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt">2
</DIV>

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<DIV align="left"><A NAME="002"></A></DIV>

<P align="center" style="font-size: 10pt"><B>SIGNATURE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.


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    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">Date: May 20, 2005&nbsp;</TD>
    <TD colspan="3" align="left">J. ALEXANDER&#146;S CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/  R. Gregory Lewis
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">R. Gregory Lewis&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Chief Financial Officer, Vice President of<BR>
Finance and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "EXHIBIT INDEX" -->
<DIV align="left"><A NAME="003"></A></DIV>

<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
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    <TD width="10%">&nbsp;</TD>
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    <TD width="85%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">10(bb)
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">J. Alexander&#146;s Corporation Cash Incentive Performance Program</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">4
</DIV>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.BB
<SEQUENCE>2
<FILENAME>g95500exv10xbby.txt
<DESCRIPTION>EX-10(BB)  J. ALEXANDER'S CORPORATION CASH INCENTIVE PERFORMANCE PROGRAM
<TEXT>
<PAGE>

                                                                  EXHIBIT 10(bb)

                           J. ALEXANDER'S CORPORATION
                       CASH INCENTIVE PERFORMANCE PROGRAM

PURPOSE OF THE PROGRAM.

         The Cash Incentive Performance Program ("CIPP") has been established by
J. Alexander's Corporation (the "Company") to reward executives for annual
financial and non-financial performance that results in the Company achieving
its objectives of operational excellence in the area of professional service and
providing guests with the highest quality food products available in casual
dining, while at the same time providing value and improving performance for the
Company's shareholders, by paying cash awards that are similar to incentives
paid by other casual dining restaurant companies that compete with the Company
and to promote a balance between cash and equity incentive compensation
programs.

PARTICIPATION.

         The Company's four senior executive officers and other executive
employees that the Compensation Committee of the Board of Directors of the
Company (the "Committee") believes have the most impact on improving financial
performance are eligible to receive an award pursuant to the CIPP.

ADMINISTRATION.

         All determinations, interpretations and other decisions under or with
respect to the CIPP shall be within the sole discretion of the Committee, may be
made at any time and shall be final, conclusive and binding upon all persons.
Awards will be made as soon as practicable after financial results for the
fiscal year are known. This program is not a "qualified" plan for federal income
tax purposes, and any payments are subject to applicable tax withholding
requirements.

AWARDS.

         Each participant in the CIPP is assigned an annual award target
expressed as a percentage of the participant's base salary. This annual award
target is generally determined based on the ability he or she has to influence
profitability, meet the Company's stated objectives of operational excellence
and ensure the integrity of the Company's financial statements and reputation of
the Company in the business community. In addition, the Committee has the
authority to modify the annual award target based on its assessment of the
individual's performance.

         In order to be eligible for an annual award, the participant must
exhibit compliance with the Company's policies and procedures, be committed to
the Company's mission and value standards, and uphold the Company's code of

<PAGE>

conduct at all times. If in the event the Committee determines that any of the
participants has not met these standards during the fiscal year, such
participant may not be eligible for an incentive award.

         The CIPP is designed to provide 100% of a participant's annual award
target for achieving targeted performance, 50% of a participant's annual award
target for achieving a minimum acceptable (threshold) level of performance, and
up to a maximum of 200% of a participant's annual award target for achieving
maximum performance. Payouts between the threshold and maximum amounts are
calculated by the Committee following its consideration of guidelines provided
by management. However, the Committee at its sole discretion may use its own
interpolations. No payments will be made for performance below the threshold
level, and no payments will be made in excess of 100% of a participant's base
salary. The Committee will approve the threshold, target, and maximum
performance levels at the beginning of each fiscal year, except that in the case
of the implementation year (2005), these performance levels were approved in May
of 2005.

         For 2005, the performance levels under the CIPP are based on earnings
before interest, taxes, depreciation, amortization, pre-opening costs, and any
stock option expense or "adjusted EBITDA."

NO RIGHT TO EMPLOYMENT.

         The grant of an award shall not be construed as giving a participant
the right to be retained in the employ of the Company or any subsidiary or
affiliate.

NO TRUST OR FUND CREATED.

         Neither the CIPP nor any award shall create or be construed to create a
trust or separate fund of any kind or a fiduciary relationship between the
Company or any subsidiary or affiliate and a participant or any other person. To
the extent that any person acquires a right to receive payments from the Company
or any subsidiary or affiliate pursuant to an award, such right shall be no
greater than the right of any unsecured general creditor of the Company or any
subsidiary or affiliate.

NO RIGHTS TO AWARDS.

         No person shall have any claim to be granted any award and there is no
obligation for uniformity of treatment among participants. The terms and
conditions of awards, if any, need not be the same with respect to each
participant.
</TEXT>
</DOCUMENT>
</SUBMISSION>
