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                              TERMINATION AGREEMENT
                                       and
                                     RELEASE
                                       and
                    AGREEMENT TO PROVIDE CONSULTING SERVICES
                                     between
                                LEONARD WASSERMAN
                                       and
                                TODAY'S MAN, INC.




         This Agreement ("Agreement") is made this 31st day of January 2000 by
and between Leonard Wasserman, residing at 191 Presidential Boulevard Apartment
#831, Bala Cynwyd, Pennsylvania 19004 ("Consultant" or "Wasserman") and Today's
Man, Inc., with an address at Moorestown West Corporate Center, 835 Lancer
Drive, Moorestown, New Jersey 08057 ("TM"). Wasserman and TM are each a party to
this Agreement and are collectively referred to hereunder as the "Parties".

         NOW, THEREFORE, in consideration of the promises, agreements and
undertakings set forth herein, and other good and valuable consideration which
the Parties deem adequate, and in addition, following Wasserman's separation
from TM as Executive Vice President, TM desires to retain Wasserman as an
independent contractor to consult on special projects and Wasserman desires to
serve in such capacity on the terms and conditions set forth herein, Wasserman
and TM each agree to be legally bound to all the terms and conditions set out in
this Agreement as follows:

         1.       Definitions. As used in this Agreement, any reference to TM
                  shall include its


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                  predecessors and successors, and all of its past, present and
                  future shareholders, directors, officers, employees (other
                  than Wasserman), representatives, attorneys, agents, assigns,
                  controlling corporations, affiliates and subsidiaries; and any
                  reference to Wasserman shall include his respective heirs,
                  administrators, representatives, executors, legatees,
                  successors, attorneys, agents and assigns.

         2.       Consulting Duties. Effective February 1, 2000, Wasserman will
                  cease his regular employment as Executive Vice President of
                  TM. For a period of twenty-one (21) months commencing February
                  1, 2000, Wasserman will, upon request of the Chairman of the
                  Board or CEO of TM, make himself available from time to time
                  to perform such consulting assignments as shall be mutually
                  agreed upon. Wasserman's consulting obligation to TM shall not
                  be deemed to preclude him from consulting with, or becoming
                  employed by, any other entity.

         3.       General Release.   Wasserman acknowledges that TM has met any
                  and all obligations arising from his prior relationships with
                  TM. Wasserman hereby releases and forever discharges TM of and
                  from any and all claims of any kind, whether or not now known,
                  which Wasserman ever had, now has or hereafter may have,
                  individually or in any other capacity, against TM relating to
                  anything that occurred before the signing of this agreement
                  arising out of his relationship with TM, and specifically
                  including all contract claims, including but not limited to,
                  claims under the severance pay plan, and all common law
                  claims, all claims under the Age Discrimination in Employment
                  Act, the Civil Rights Act of 1964, as amended, the New Jersey
                  Law Against



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                  Discrimination, the New Jersey Conscientious Employee
                  Protection Act, the Pennsylvania Human Relations Act, Older
                  Workers Benefit Protection Act and any other federal, state or
                  local law or regulation. It is understood that this release
                  does not apply to any claim arising out of events occurring
                  after the date of this Agreement.

         4.       Employment Rights.  Wasserman expressly acknowledges that he
                  is aware of his legal right to consider this Agreement for a
                  period of twenty-one (21) days and that the Agreement will
                  remain open during this period. At the sole option of
                  Wasserman, this Agreement may be executed prior to the
                  expiration of this twenty-one (21) day period. TM hereby
                  advises Wasserman to consult with an attorney prior to
                  executing this Agreement. Wasserman acknowledges that he has
                  done so since being given this Agreement. Further, Wasserman
                  has the right to revoke this Agreement within seven (7) days
                  of the execution thereof. Wasserman expressly agrees that any
                  notice of revocation hereunder shall be in writing and shall
                  be deemed to have been duly given to TM if hand-delivered, or
                  if mailed, postage prepaid, by certified mail, return receipt
                  requested, within seven (7) days of the execution of this
                  Agreement to Mycal Webster, Human Resources Department,
                  Moorestown West Corporate Center, 835 Lancer Drive,
                  Moorestown, NJ 08057. The Agreement shall not become effective
                  until after such seven (7) day period has expired. Wasserman
                  understands that if he revokes this Agreement, he will not be
                  entitled to the monies provided for hereunder.


         5.       Proprietary Information.  At all times both during and after
                  this Agreement, Wasserman shall not, except with TM's express
                  prior written consent, directly

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                  or indirectly, communicate, disclose or divulge to any
                  individual, sole proprietorship, joint venture, partnership,
                  corporation, association or any governmental or
                  non-governmental entity or authority (collectively "Person")
                  or use for his own benefit or the benefit of any Person, any
                  confidential or proprietary knowledge or information (no
                  matter when or how acquired), concerning the conduct and
                  detail of the business of TM.

         6.       Return of Property.

                  a.       Upon execution of this Agreement, Wasserman will
                           immediately return to TM all of its "Property."
                           "Property" means all assets, correspondence, files,
                           customer and prospects lists, other lists, price
                           books, catalogues, technical data, notes, memoranda,
                           drawings, papers, books, disks, computers and related
                           materials, tapes, documents and any other materials
                           which contain business, confidential and/or
                           proprietary information of TM. Property also means
                           all duplicates or copies thereof.

                  b.       Should Wasserman require any of TM's Property to
                           fulfil his obligations under this Agreement such
                           Property will be provided as determined by TM.

         7        Nature of Consulting Relationship. Wasserman shall perform his
                  consulting duties in his capacity as an independent contractor
                  and not an employee of TM. Wasserman shall be free to exercise
                  his discretion and independent judgment as to method and means
                  of performance of his services pursuant to this Agreement and
                  shall in no sense be considered to be an employee. Wasserman
                  will devote such business time and effort to the services set
                  forth



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                  hereunder to fully, timely and properly complete all assigned
                  projects and tasks. Wasserman will perform on a best effort
                  basis and shall be provided with appropriate personnel and
                  equipment as to be agreed.

         8.       Non disparagement. Wasserman and TM both agree that they will
                  make no statements calculated or intended to be harmful or
                  derogatory concerning each of them or their respective
                  officers, agents, or employees, except as required under
                  subpoena or other governmental compulsion.

         9.       Non solicitation. Wasserman agrees that for the term of this
                  Agreement, he will not solicit or seek to persuade any
                  employee, consultant or independent contractor of TM to
                  discontinue his/her employment or relationship with TM, or to
                  become employed or engaged in any business directly or
                  indirectly competitive with TM.

         10.      Payment to Wasserman.

                  a.       In consideration for the promises, agreement and
                           undertakings set forth herein, TM agrees to pay
                           Wasserman Twenty-One Thousand, Six Hundred Forty-Two
                           Dollars and sixty-seven cents ($21,642.67) on
                           February 1, 2000 and on the first day of each
                           succeeding calendar month through and including
                           October 1, 2001.

                  b.       TM will also pay Wasserman health insurance premiums
                           at the same level of coverage on the date hereof
                           through October 31, 2001.

                  c.       In addition to any other remedies available to it,
                           upon receipt of competent evidence of any breach of
                           this Agreement by Wasserman, TM may cease payment
                           under this paragraph, provided it first notifies
                           Wasserman and affords an opportunity for discussion
                           and/or



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                           remediation within thirty (30) days of such notice.

                  d.       If TM breaches this Agreement by missing any payment
                           required hereby (a payment which is not made within
                           seven (7) days of written notice from Wasserman to TM
                           - Attention CFO is a missed payment) then in his sole
                           discretion, Wasserman may:( i) sue to enforce the
                           terms of this Agreement; or (ii) pursue before the
                           appropriate Courts or Agencies any claims previously
                           waived in this Agreement. TM agrees not to plead any
                           statute of limitations as an affirmative defense in
                           the event of pursuing such claims.

         11.      Nature of Agreement.  It is understood and agreed by the
                  parties that this Agreement does not constitute an admission
                  of liability or wrongdoing on the part of TM; and that by
                  entering into this Agreement, TM does not admit that there has
                  been any unlawful or wrongful act whatsoever committed against
                  any party or person, which makes TM liable in any manner.
                  Except to the extent necessary to enforce the Agreement, it is
                  further agreed that neither this Agreement nor any part of it
                  is to be considered or used or admitted into evidence in any
                  proceeding of any character, judicial, administrative, or
                  otherwise. In the event this Agreement is not finally
                  consummated, it and any preceding discussions concerning the
                  proposed terms of this Agreement shall be without prejudice to
                  any party, and shall not be used in any subsequent proceeding,
                  judicial, administrative, or otherwise.


         12.      Entire Agreement.  This Agreement contains and constitutes the
                  entire understanding and agreement between the parties hereto
                  and supersedes and cancels all previous negotiations,
                  agreements, commitments, and writings in connection herewith.



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                  Wasserman affirms that the only consideration for the signing
                  of this Agreement are the terms stated herein, and no other
                  promises or agreements of any kind have been made to or with
                  him by any person or entity whatsoever to cause him to sign
                  this Agreement, and that he fully understands the meaning and
                  intent of this Agreement.

         13.      Amendment.  This Agreement shall be binding upon Wasserman and
                  TM and may not be abandoned, supplemented, amended, changed,
                  or modified in any manner, orally or otherwise, except by an
                  instrument in writing of concurrent or subsequent date, signed
                  by Wasserman and a duly authorized representative of TM.

         14.      Construction. This Agreement shall be governed by and
                  construed in accordance with the laws of the State of
                  New Jersey.

                  The captions herein are inserted for convenience and do not
                  constitute a part of this Agreement and shall not be
                  admissible for the purposes of providing the intent of the
                  parties.

                  Wasserman states and represents that he has carefully read
                  this Agreement, that he has discussed it with his attorney,
                  understands the contents hereof, freely and voluntarily
                  assents to all the terms and conditions hereof, and signs the
                  same as his own free act. TM represents and warrants that this
                  Agreement is the duly authorized act of TM and that the
                  undersigned has the actual authority to execute this Agreement
                  on behalf of TM and bind it to the obligations set forth
                  herein.



           /s/ Leonard Wasserman                                    01/31/00
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               Leonard Wasserman                           Date


For Today's Man, Inc.

           /s/ Frank E. Johnson                                     01/31/00
-----------------------------------------------------      ---------------------
               Frank E. Johnson, EVP & CFO                 Date