Item 1.01. Entry into a Material Definitive Agreement.

On October 31, 2008, J. Alexander's Corporation (the "Company") entered into the Third Amendment (the "Third Amendment") to its Loan Agreement dated as of May 12, 2003, by and among the Company and J. Alexander's Restaurants, Inc., collectively as the Borrower, and Bank of America, N.A., as the Lender, as amended by that certain First Amendment to the Loan Agreement dated January 20, 2004 and that certain Second Amendment to the Loan Agreement dated September 20, 2006 (the "Loan Agreement").

The Third Amendment to the Loan Agreement changes the maximum adjusted debt to EBITDAR ratio from 3.5 to 1 to 4.5 to 1 until March 29, 2009 and then 3.5 to 1 at the end of each fiscal quarter thereafter. Under the Loan Agreement, EBITDAR is defined as the sum of net income for the applicable period (excluding the effect of any extraordinary or non-recurring gains or losses) plus an amount which, in the determination of net income for such period has been deducted for
(i) interest expense for such period; (ii) total federal, state, foreign or other income taxes for such period; (iii) all depreciation and amortization for such period; (iv) rent payments; and (v) non-cash FASB 123R items, i.e., stock based compensation, all as determined in accordance with GAAP. Adjusted debt is
(i) the Company's debt obligations net of any short term investments, cash or cash equivalents plus (ii) rent payments multiplied by eight.

The foregoing description of the Third Amendment does not purport to be complete and is qualified in its entirety by reference to the Third Amendment, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K.

Item 2.02. Results of Operations and Financial Condition.

On October 31, 2008, The Company issued a press release announcing its financial results for the third quarter ended September 28, 2008, (the "Earnings Press Release") the text of which is set forth in Exhibit 99.1.

Item 7.01. Regulation FD Disclosure.

The Company's press release announcing its financial results for the third quarter ended September 28, 2008 is furnished as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits:

The following exhibits are filed or furnished herewith as noted above:

10.1 Third Amendment to Loan Agreement dated October 31, 2008, by and among the Company, J. Alexander's Restaurants, Inc. and Bank of America, N.A.

99.1 Earnings Press Release issued by J. Alexander's Corporation dated October 31, 2008.

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