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                                                                  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

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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.
