Document:

LINENS 'N THINGS, INC.

                      Employment Agreement for Hugh Scullin

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                             LINENS 'N THINGS, INC.

                      Employment Agreement for Hugh Scullin

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         1.    Definitions................................................................................      1
         2.    Term of Employment.........................................................................      2
         3.    Position, Duties and Responsibilities......................................................      3
         4.    Base Salary................................................................................      3
         5.    Annual Incentive Awards....................................................................      3
         6.    Long-Term Stock Incentive Programs.........................................................      3
         7.    Employee Benefit Programs..................................................................      4
         8.    Disability.................................................................................      5
         9.    Reimbursement of Business and Other Expenses; Perquisites..................................      6
         10.   Termination of Employment..................................................................      6
         11.   Forfeiture Provisions......................................................................     16
         12    Confidentiality; Cooperation with Regard to Litigation; Non-Disparagement;
               Return of Company Materials................................................................     17
         13.   Non-competition............................................................................     18
         14.   Non-solicitation of Employees..............................................................     19
         15.   Remedies...................................................................................     19
         16.   Resolution of Disputes.....................................................................     19
         17.   Indemnification............................................................................     20
         18.   Excise Tax Gross-Up........................................................................     20
         19.   Effect of Agreement on Other Benefits......................................................     22
         20.   Assignability; Binding Nature..............................................................     23
         21.   Representation.............................................................................     23
         22.   Entire Agreement...........................................................................     23
         23.   Amendment or Waiver........................................................................     23
         24.   Severability...............................................................................     24
         25.   Survivorship...............................................................................     24
         26.   Beneficiaries/References...................................................................     24
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         27.   Governing Law/Jurisdiction.................................................................     24
         28.   Notices....................................................................................     24
         29.   Headings...................................................................................     25
         30.   Counterparts...............................................................................     25

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                              EMPLOYMENT AGREEMENT

         AGREEMENT, made and entered into as of the 12th day of October, 2000 by
and among Linens 'n Things,  Inc.,  a Delaware  corporation  (together  with its
successors and assigns, the "Company"), and Hugh Scullin (the "Executive").

                              W I T N E S S E T H:

         WHEREAS,  the Company desires to continue to employ Executive  pursuant
to an agreement  embodying the terms of such employment  (this  "Agreement") and
Executive  desires to enter into this  Agreement and to accept such  employment,
subject to the terms and provisions of this Agreement;

         NOW,  THEREFORE,  in consideration of the premises and mutual covenants
contained herein and for other good and valuable  consideration,  the receipt of
which is  mutually  acknowledged,  the  Company and  Executive  (individually  a
"Party" and together the "Parties") agree as follows:

         1 .      Definitions.

                  (a)      "Award"  shall have the  meaning set forth in Section
                           11 below.

                  (b)      "Base  Salary"  shall have the  meaning  set forth in
                           Section 4 below.

                  (c)      "Board"  shall have the  meaning set forth in Section
                           3(a) below.

                  (d)      "Cause"  shall have the  meaning set forth in Section
                           10(b) below.

                  (e)      "Change in Control"  shall have the meaning set forth
                           in Section 10(c) below.

                  (f)      "Committee"  shall  have  the  meaning  set  forth in
                           Section 4 below.

                  (g)      "Competition"  shall  have the  meaning  set forth in
                           Section 13(a) below.

                  (h)      "Confidential Information" shall have the meaning set
                           forth in Section 12(c) below.

                  (i)      "Constructive  Termination  Without Cause" shall have
                           the meaning set forth in Section 10(c) below.

                  (j)      "Effective  Date" shall have the meaning set forth in
                           Section 2(a) below.

                  (k)      "Fair Market  Value" shall have the meaning set forth
                           in Section 6(b) below.

                  (l)      "Forfeiture  Event"  shall have the meaning set forth
                           in Section 11 below.

                  (m)      "Original Term of Employment"  shall have the meaning
                           set forth in Section 2(a) below.

                  (n)      "Renewal  Term"  shall have the  meaning set forth in
                           Section 2(a) below.

                  (o)      "Restriction Period" shall have the meaning set forth
                           in Section 13(b) below.

                  (p)      "Retirement"  shall  have the  meaning  set  forth in
                           Section 10(f) below.

                  (q)      "Target Performance" shall have the meaning set forth
                           in Section 10(a) below.

                  (r)      "Severance  Period"  shall have the meaning set forth
                           in  Section  10(c)(ii)  below,   except  as  provided
                           otherwise in Section 10(e) below.

                  (s)      "Subsidiary"  shall  have the  meaning  set  forth in
                           Section 12(d) below.

                  (t)      "Term of Employment" shall have the meaning set forth
                           in Section 2(a) below.

         2.       Term of Employment.

                  (a) The term of  Executive's  employment  under this Agreement
shall  commence  immediately  upon the date of this  agreement  (the  "Effective
Date") and end on December 31, 2004 (the "Original Term of Employment"),  unless
terminated earlier in accordance herewith. The Original Term of Employment shall
be  automatically  renewed for successive  one-year terms (the "Renewal  Terms")
unless  at  least  180 days  prior to the  expiration  of the  Original  Term of
Employment or any Renewal Term, either Party notifies the other Party in writing
that he or it is electing to terminate  this  Agreement at the expiration of the
then current Term of Employment.  "Term of  Employment"  shall mean the Original
Term of Employment and all Renewal Terms.

                  (b) In the event that this  Agreement  is not renewed  because
the Company has given the 180-day notice  prescribed in the preceding  paragraph
on or before the  expiration  of the Original  Term of Employment or any Renewal
Term and, in either case,  should such notice  result in the  expiration  of the
Term of Employment prior to Executive's 60th birthday, such non-renewal shall be
treated as a "Constructive Termination Without Cause" pursuant to Section 10(c).

                  (c) In the event that this  Agreement  is not renewed  because
Executive has given the 180-day  notice  prescribed in Section 2(a) on or before
the  expiration of the Original  Term of  Employment  or any Renewal Term,  such
non-renewal  shall be treated as a  Termination  for Cause for the  purposes  of
Sections  10(b)(iii)  and 13(b) but not for purposes of Section 11 and Executive
shall have the same entitlements as provided in Section 10(b)(iii) below.

                  (d)   Notwithstanding   anything  in  this  Agreement  to  the
contrary,  at least one year prior to the  expiration  of the  Original  Term of
Employment,  upon the written  request of the Company or Executive,  the Parties
shall meet to discuss this  Agreement  and may agree in writing to modify any of
the terms of this Agreement.

         3.       Position, Duties and Responsibilities.

                  (a) Generally.  Executive shall serve as a senior executive of
the Company. Executive shall have and perform such duties, responsibilities, and
authorities  as shall be  specified  by the Company from time to time and as are
customary  for a senior  executive of a publicly held  corporation  of the size,
type,  and nature of the  Company as they may exist from time to time and as are
consistent with such position and status.  Executive shall devote  substantially
all of his  business  time and  attention  (except  for  periods of  vacation or
absence due to illness), and his best efforts, abilities, experience, and talent
to his position and the businesses of the Company.

                  (b)  Other   Activities.   Anything  herein  to  the  contrary
notwithstanding,  nothing in this Agreement  shall  preclude  Executive from (i)
serving on the boards of directors of a reasonable number of other  corporations
or the boards of a reasonable  number of trade  associations  and/or  charitable
organizations, (ii) engaging in charitable activities and community affairs, and
(iii)  managing  his  personal  investments  and  affairs,  provided  that  such
activities do not materially interfere with the proper performance of his duties
and responsibilities under this Agreement.

                  (c)  Place  of  Employment.  Executive's  principal  place  of
employment shall be the principal corporate offices of the Company.

         4.       Base Salary.

                  Executive shall be paid an annualized salary,  ("Base Salary")
payable in accordance with the regular payroll practices of the Company,  of not
less than  $225,000,  subject to review for  increase at the  discretion  of the
Compensation  Committee (the  "Committee")  of the Company's  Board of Directors
(the "Board").

         5.       Annual Incentive Awards.

                  Executive shall  participate in the Company's annual incentive
compensation  plan with a target annual  incentive award  opportunity of no less
than 40% of Base Salary and a maximum annual incentive award  opportunity of 80%
of Base Salary.  Payment of annual  incentive awards shall be made no later than
75 days after the Company's fiscal year-end unless Executive agrees otherwise.

         6.       Long-Term Incentive Programs.

                  Executive  shall be eligible to  participate  in the Company's
long-term  incentive  compensation  programs  including cash and/or stock grants
with or without  restrictions on a deferred or current basis with a target award
opportunity of not less than 25% of Base Salary, and stock option grants.

         7.       Employee Benefit Programs.

                  (a) General Benefits. During the Term of Employment, Executive
shall be entitled to  participate in such employee  pension and welfare  benefit
plans  and  programs  of the  Company  as are made  available  to the  Company's
senior-level executives or to its employees generally, as such plans or programs
may be in  effect  from time to time,  including,  without  limitation,  health,
medical, dental, long-term disability, travel accident and life insurance plans.
As a non-officer  employee,  Executive  shall be entitled to  participate in the
Company's insured welfare benefit plans and programs.

                  (b)  Deferral of  Compensation.  The Company  shall  implement
deferral  arrangements,  reasonably  acceptable  to  Executive  and the Company,
permitting  Executive to elect to defer  receipt,  pursuant to written  deferral
election terms and forms (the "Deferral Election Forms"),  of all or a specified
portion of (i) his annual Base Salary and annual  incentive  compensation  under
Sections  4 and 5, (ii) long term  incentive  compensation  under  Section 6 and
(iii) shares acquired upon exercise of stock options to purchase  Company common
stock that are  acquired  in an exercise in which  Executive  pays the  exercise
price by the surrender of previously  acquired shares,  to the extent of the net
additional  shares otherwise  issuable to Executive in such exercise;  provided,
however,   that  such  deferrals  shall  not  reduce   Executive's   total  cash
compensation  in any calendar year below the sum of (A) the FICA maximum taxable
wage base plus (B) the amount needed, on an after-tax basis, to enable Executive
to pay the  1.45%  Medicare  tax  imposed  on his  wages in  excess of such FICA
maximum taxable wage base.

                  In accordance with such duly executed Deferral Election Forms,
the Company shall credit to a bookkeeping  account (the  "Deferred  Compensation
Account")  maintained  for  Executive on the  respective  payment date or dates,
amounts  equal to the  compensation  subject  to  deferral,  such  credits to be
denominated in cash if the compensation would have been paid in cash but for the
deferral or in shares if the compensation would have been paid in shares but for
the deferral.  An amount of cash equal in value to all cash-denominated  amounts
credited to  Executive's  account and a number of shares of Company common stock
equal to the number of shares credited to Executive's  account  pursuant to this
Section  7(b)  shall  be  transferred  as soon  as  practicable  following  such
crediting by the Company to, and shall be held and  invested by, an  independent
trustee  selected by the Company  and  reasonably  acceptable  to  Executive  (a
"Trustee")  pursuant to a "rabbi trust" established by the Company in connection
with  such  deferral  arrangement  and  as  to  which  the  Trustee  shall  make
investments  based on  Executive's  investment  objectives  (including  possible
investment  in publicly  traded stocks and bonds,  mutual  funds,  and insurance
vehicles). Thereafter, Executive's deferral accounts will be valued by reference
to the value of the assets of the "rabbi trust". The Company shall pay all costs
of administration or maintenance of the deferral arrangement,  without deduction
or reimbursement from the assets of the "rabbi trust."

                  Except as otherwise provided under Section 10, in the event of
Executive's   termination  of  employment  with  the  Company  or  as  otherwise
determined  by the  Committee in the event of  Executive's  hardship,  upon such
date(s) or event(s) set forth in the Deferral  Election Forms  (including  forms
filed after  deferral  but before  settlement  in which  Executive  may elect to
further defer  settlement),  the Company shall promptly  distribute to Executive
any shares of Company common stock credited to Executive's deferred accounts and
pay to Executive  cash equal to the value of any other  assets then  credited to
Executive's  deferral  accounts,  less applicable  withholding  taxes,  and such
distribution shall be deemed to fully settle such accounts;  provided,  however,
that the Company may instead  settle such  accounts by directing  the Trustee to
distribute  such other  assets of the "rabbi  trust." The Company and  Executive
agree that  compensation  deferred  pursuant to this Section 7(b) shall be fully
vested  and   nonforfeitable   (subject  to  Section  11);  however,   Executive
acknowledges that his rights to the deferred  compensation  provided for in this
Section 7(b) shall be no greater than those of a general  unsecured  creditor of
the  Company,  and  that  such  rights  may  not  be  pledged,   collateralized,
encumbered,  hypothecated,  or liable for or subject to any lien, obligation, or
liability of Executive, or be assignable or transferable by Executive, otherwise
than by will or the laws of descent and  distribution,  provided that  Executive
may designate one or more  beneficiaries  to receive any payment of such amounts
in the event of his death.

         8.       Disability.

                  (a)  During  the Term of  Employment,  as well as  during  the
Severance  Period,  Executive  shall  be  entitled  to  disability  coverage  as
described in this Section 8(a). In the event Executive becomes disabled, as that
term is defined under the Company's Long-Term  Disability Plan,  Executive shall
be entitled to receive  pursuant to the Company's  Long-Term  Disability Plan or
otherwise,  and in place of his Base Salary,  an amount equal to 60% of his Base
Salary, at the annual rate in effect on the commencement date of his eligibility
for the Company's  long-term  disability  benefits  ("Commencement  Date") for a
period beginning on the  Commencement  Date and ending with the earlier to occur
of (A)  Executive's  attainment  of age 65 or (B)  Executive's  commencement  of
retirement  benefits from the Company in accordance with Section 10(f) below. If
(i) Executive ceases to be disabled during the Term of Employment (as determined
in  accordance  with  the  terms of the  Long-Term  Disability  Plan),  (ii) his
position  or another  senior  executive  position  is then  vacant and (iii) the
Company requests in writing that he resume such position, he may elect to resume
such position by written  notice to the Company within 15 days after the Company
delivers  its request.  If he resumes  such  position,  he shall  thereafter  be
entitled  to his Base  Salary at the annual  rate in effect on the  Commencement
Date and,  for the year he resumes his  position,  a pro rata  annual  incentive
award.  If he ceases to be disabled  during the Term of Employment  and does not
resume his  position in  accordance  with the  preceding  sentence,  he shall be
treated as if he voluntarily terminated his employment pursuant to Section 10(d)
as of the date Executive ceases to be disabled.  If Executive is not offered his
position or another  senior  executive  position  after he ceases to be disabled
during the Term of  Employment,  he shall be treated  as if his  employment  was
terminated  Without  Cause  pursuant to Section  10(c) as of the date  Executive
ceases to be disabled.

                  (b) Executive shall be entitled to a pro rata annual incentive
award for the year in which the  Commencement  Date occurs  based on 50% of Base
Salary paid to him during such year prior to the Commencement Date, payable in a
lump sum not later than 15 days after the Commencement Date. Executive shall not
be entitled to any annual  incentive award with respect to the period  following
the Commencement Date. If Executive  recommences his position in accordance with
Section 8(a), he shall be entitled to a pro rata annual  incentive award for the
year he  resumes  such  position  and shall  thereafter  be  entitled  to annual
incentive awards in accordance with Section 5 hereof.

                  (c)  Executive  shall  be  entitled  to a pro rata  long  term
incentive  award for the period  through the  Commencement  Date based on target
performance, payable in a lump sum not later than 15 days after the Commencement
Date.  Executive  shall not be  entitled to any long term  incentive  award with
respect to the period following the Commencement Date. If Executive  recommences
his position in accordance with Section 8(a), he shall be entitled to a pro rata
long term  incentive  award for the period in which he resumes such position and
shall  thereafter be entitled to long term incentive  awards in accordance  with
Section 6 hereof.

                   (d) During  the  period  Executive  is  receiving  disability
benefits  pursuant to Section 8(a) above,  he shall continue to be treated as an
employee for purposes of all employee  benefits and entitlements in which he was
participating  on the  Commencement  Date,  including  without  limitation,  the
benefits  and  entitlements  referred to in Sections 6 and 7 above,  except that
Executive  shall not be entitled to receive any annual  salary  increases or any
new long-term incentive plan grants following the Commencement Date.

         9.       Reimbursement of Business and Other Expenses.

                  Executive  is  authorized  to  incur  reasonable  expenses  in
carrying  out his duties and  responsibilities  under  this  Agreement,  and the
Company shall promptly  reimburse him for all such business expenses incurred in
connection therewith,  subject to documentation in accordance with the Company's
policy.

         10.      Termination of Employment.

                  (a)  Termination  Due  to  Death.  In  the  event  Executive's
employment  with the Company is terminated  due to his death,  his estate or his
beneficiaries,  as the case may be, shall be entitled to and their sole remedies
under this Agreement shall be:

                           (i)      Base Salary through the date of death, which
                                    shall be paid in a single lump sum not later
                                    than 15 days following Executive's death;

                           (ii)     pro rata annual incentive award for the year
                                    in which  Executive's  death occurs assuming
                                    that Executive  would have received an award
                                    equal to 40% of Base  Salary  for such year,
                                    which   shall  be  payable  in  a  lump  sum
                                    promptly  (but  in no  event  later  than 15
                                    days) after his death;

                           (iii)    elimination  of  all   restrictions  on  any
                                    restricted  stock or deferred  stock  awards
                                    outstanding at the time of his death;

                           (iv)     immediate  vesting of all outstanding  stock
                                    options and the right to exercise such stock
                                    options  for a period of one year  following
                                    death  (or  such  longer  period  as  may be
                                    provided in stock  options  granted to other
                                    similarly situated executive officers of the
                                    Company)  or  for  the   remainder   of  the
                                    exercise period, if less;

                           (v)      immediate   vesting   of   all   outstanding
                                    long-term  incentive  awards  and a pro rata
                                    payment  of  such  awards  based  on  Target
                                    Performance,  payable  in a lump sum in cash
                                    or stock  promptly  (but in no  event  later
                                    than  15  days)  after  his  death.  "Target
                                    Performance"  for purposes of this Agreement
                                    shall  mean (i) the actual  performance  for
                                    each  completed  year under each  applicable
                                    award,  plus (ii) the  "target"  performance
                                    for  the  then   current   year  under  each
                                    applicable award;

                           (vi)     the balance of any  incentive  awards earned
                                    as of December 31 of the prior year (but not
                                    yet paid),  which  shall be paid in a single
                                    lump sum not  later  than 15 days  following
                                    Executive's death;

                           (vii)    settlement  of  all  deferred   compensation
                                    arrangements in accordance with  Executive's
                                    duly executed Deferral Election Forms; and

                           (viii)   other  or  additional  benefits  then due or
                                    earned in accordance with  applicable  plans
                                    and programs of the Company.

                  (b)      Termination by the Company for Cause.

                           (i)      "Cause" shall mean:

                                    (A)     Executive's   willful  and  material
                                            breach of  Sections  12, 13 or 14 of
                                            this Agreement;

                                    (B)     Executive  is  convicted of a felony
                                            involving moral turpitude; or

                                    (C)     Executive  engages in  conduct  that
                                            constitutes willful gross neglect or
                                            willful gross misconduct in carrying
                                            out his duties under this Agreement,
                                            resulting,   in  either   case,   in
                                            material   harm  to  the   financial
                                            condition  or   reputation   of  the
                                            Company.

For purposes of this  Agreement,  an act or failure to act on  Executive's  part
shall be considered "willful" if it was done or omitted to be done by him not in
good faith,  and shall not include any act or failure to act resulting  from any
incapacity of Executive.

                           (ii)     A  termination  for  Cause  shall  not  take
                                    effect   unless  the   provisions   of  this
                                    paragraph (ii) are complied with.  Executive
                                    shall be given written notice by the Company
                                    of its intention to terminate him for Cause,
                                    such  notice  (A) to  state  in  detail  the
                                    particular   act  or  acts  or   failure  or
                                    failures to act that  constitute the grounds
                                    on which the proposed  termination for Cause
                                    is based and (B) to be given  within 90 days
                                    of the  Company's  learning  of such  act or
                                    acts  or   failure  or   failures   to  act.
                                    Executive  shall have 20 days after the date
                                    that such  written  notice has been given to
                                    him in which to cure  such  conduct,  to the
                                    extent such cure is possible. If he fails to
                                    cure such conduct,  Executive  shall then be
                                    entitled to a hearing  before the  Committee
                                    of the Board at which  Executive is entitled
                                    to appear. Such hearing shall be held within
                                    25  days  of  such   notice  to   Executive,
                                    provided he requests such hearing  within 10
                                    days of the written  notice from the Company
                                    of the intention to terminate him for Cause.
                                    If, within five days following such hearing,
                                    Executive is furnished written notice by the
                                    Board  confirming  that,  in  its  judgment,
                                    grounds  for  Cause  on  the  basis  of  the
                                    original notice exist, he shall thereupon be
                                    terminated for Cause.

                           (iii)    In  the   event   the   Company   terminates
                                    Executive's  employment for Cause,  he shall
                                    be entitled to and his sole  remedies  under
                                    this Agreement shall be:

                                    (A)     Base Salary  through the date of the
                                            termination  of his  employment  for
                                            Cause,  which  shall  be  paid  in a
                                            single  lump sum not  later  than 15
                                            days      following      Executive's
                                            termination of employment;

                                    (B)     any  incentive  awards  earned as of
                                            December  31 of the prior  year (but
                                            not yet paid),  which  shall be paid
                                            in a single  lump sum not later than
                                            15   days   following    Executive's
                                            termination of employment;

                                    (C)     settlement     of    all    deferred
                                            compensation     arrangements     in
                                            accordance  with   Executive's  duly
                                            executed  Deferral  Election  Forms;
                                            and

                                    (D)     other or  additional  benefits  then
                                            due or  earned  in  accordance  with
                                            applicable  plans or programs of the
                                            Company.

                  (c)  Termination  Without  Cause or  Constructive  Termination
Without Cause Prior to a Change in Control. In the event Executive's  employment
with the  Company  is  terminated  without  Cause  (which  termination  shall be
effective  as of the date  specified  by the  Company  in a  written  notice  to
Executive),  other than due to death,  or in the event  there is a  Constructive
Termination  Without Cause (as defined below),  in either case prior to a Change
in Control  (as  defined  below)  Executive  shall be  entitled  to and his sole
remedies under this Agreement shall be:

                           (i)      Base Salary  through the date of termination
                                    of  Executive's  employment,  which shall be
                                    paid in a single  lump sum not later than 15
                                    days  following  Executive's  termination of
                                    employment;

                           (ii)     Base  Salary,  at  the  annualized  rate  in
                                    effect  on  the  date  of   termination   of
                                    Executive's  employment  (or in the  event a
                                    reduction  in Base  Salary  is a basis for a
                                    Constructive Termination Without Cause, then
                                    the Base Salary in effect  immediately prior
                                    to  such  reduction),  for  a  period  of 18
                                    months   following  such   termination  (the
                                    "Severance Period");

                           (iii)    pro rata annual incentive award for the year
                                    in which termination  occurs equal to 40% of
                                    Base Salary  (determined in accordance  with
                                    Section  10(c)(ii)  above)  for  such  year,
                                    payable  in a lump sum  promptly  (but in no
                                    event   later   than  15   days)   following
                                    termination;

                           (iv)     an  amount  equal  to  40%  of  Base  Salary
                                    (determined   in  accordance   with  Section
                                    10(c)(ii)  above),  payable in equal monthly
                                    payments over the Severance Period;

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                           (v)      the balance of any  incentive  awards earned
                                    as of December 31 of the prior year (but not
                                    yet paid),  which  shall be paid in a single
                                    lump sum not  later  than 15 days  following
                                    Executive's termination of employment;

                           (vi)     settlement  of  all  deferred   compensation
                                    arrangements in accordance with  Executive's
                                    duly  executed   Deferral   Election   Forms
                                    (unless   Executive   has   previously   and
                                    appropriately   elected  not  to  have  such
                                    settlement upon such a termination);

                           (vii)    continued   participation  in  all  medical,
                                    health and life insurance  plans at the same
                                    benefit level at which he was  participating
                                    on  the  date  of  the  termination  of  his
                                    employment until the earlier of:

                                    (A)     the end of the Severance Period; or

                                    (B)     the  date,  or  dates,  he  receives
                                            equivalent   coverage  and  benefits
                                            under the plans  and  programs  of a
                                            subsequent  employer  (such coverage
                                            and benefits to be  determined  on a
                                            coverage-by-coverage,             or
                                            benefit-by-benefit, basis); provided
                                            that (1) if  Executive  is precluded
                                            from continuing his participation in
                                            any employee benefit plan or program
                                            as provided in this clause  (vii) of
                                            this Section 10(c), he shall receive
                                            cash payments  equal on an after-tax
                                            basis   to  the   cost   to  him  of
                                            obtaining   the  benefits   provided
                                            under the plan or  program  in which
                                            he is unable to participate  for the
                                            period   specified  in  this  clause
                                            (vii)  of this  Section  10(c),  (2)
                                            such cost  shall be deemed to be the
                                            lowest reasonable cost that would be
                                            incurred by  Executive  in obtaining
                                            such    benefit    himself   on   an
                                            individual basis, and (3) payment of
                                            such amounts shall be made quarterly
                                            in advance;

                           (viii)   24 months  additional age and service credit
                                    for  purposes  of  determining   the  amount
                                    Executive's   accrued   benefits  under  any
                                    supplemental    retirement    benefit   plan
                                    ("SERP")  maintained  by  the  Company,  and
                                    immediate vesting of any such benefits; and

                           (ix)     other  or  additional  benefits  then due or
                                    earned in accordance with  applicable  plans
                                    and programs of the Company.

                  A  termination   without   "Cause"   shall  mean   Executive's
employment  is  terminated  by the Company  for any reason  other than Cause (as
defined in Section 10(b)) or due to death.

                  "Constructive   Termination   Without   Cause"  shall  mean  a
termination  of  Executive's  employment  at his  initiative as provided in this
Section 10(c) following the occurrence,  without Executive's written consent, of
one or more of the following events (except as a result of a prior termination):

                                    (A)     an   assignment  of  any  duties  to
                                            Executive  which  are   inconsistent
                                            with   his   status   as  a   senior
                                            executive of the Company;

                                    (B)     a decrease  in annual Base Salary or
                                            target   annual    incentive   award
                                            opportunity   below   40%  of   Base
                                            Salary;

<PAGE>

                                    (C)     any other  failure by the Company to
                                            perform  any   material   obligation
                                            under,  or breach by the  Company of
                                            any  material   provision  of,  this
                                            Agreement  that is not cured  within
                                            30 days; or

                                    (D)     any failure to secure the  agreement
                                            of  any  successor   corporation  or
                                            other entity to the Company to fully
                                            assume  the  Company's   obligations
                                            under this Agreement.

In addition,  following a Change in Control,  "Constructive  Termination Without
Cause" shall also mean a termination of Executive's employment at his initiative
as provided in this Section 10(c) following the occurrence,  without Executive's
written consent,  of a relocation of his principal place of employment outside a
35-mile  radius of his principal  place of  employment as in effect  immediately
prior to such Change in Control.

                  A "Change in Control" shall be deemed to have occurred if:

                           (i)      any  Person  (other  than the  Company,  any
                                    trustee   or   other    fiduciary    holding
                                    securities  under any employee  benefit plan
                                    of  the  Company,   or  any  company  owned,
                                    directly or indirectly,  by the stockholders
                                    of  the  Company  immediately  prior  to the
                                    occurrence   with   respect   to  which  the
                                    evaluation  is being  made in  substantially
                                    the same  proportions as their  ownership of
                                    the common stock of the Company) becomes the
                                    Beneficial Owner (except that a Person shall
                                    be deemed to be the Beneficial  Owner of all
                                    shares that any such Person has the right to
                                    acquire   pursuant  to  any   agreement   or
                                    arrangement  or upon  exercise of conversion
                                    rights,  warrants  or options or  otherwise,
                                    without  regard  to  the  sixty  day  period
                                    referred to in Rule 13d-3 under the Exchange
                                    Act), directly or indirectly,  of securities
                                    of the Company or any Significant Subsidiary
                                    (as defined below), representing 25% or more
                                    of  the   combined   voting   power  of  the
                                    Company's   or   such    subsidiary's   then
                                    outstanding securities;

<PAGE>

                           (ii)     during any period of two consecutive  years,
                                    individuals  who at the  beginning  of  such
                                    period  constitute  the  Board,  and any new
                                    director  (other than a director  designated
                                    by  a  person  who  has   entered   into  an
                                    agreement  with  the  Company  to  effect  a
                                    transaction  described in clause (i), (iii),
                                    or (iv) of this paragraph) whose election by
                                    the Board or nomination  for election by the
                                    Company's  stockholders  was  approved  by a
                                    vote of at least two-thirds of the directors
                                    then  still  in  office   who  either   were
                                    directors  at the  beginning of the two-year
                                    period or whose  election or nomination  for
                                    election  was  previously  so  approved  but
                                    excluding  for  this  purpose  any  such new
                                    director whose initial  assumption of office
                                    occurs  as a result  of  either an actual or
                                    threatened  election  contest (as such terms
                                    are used in Rule  14a-11 of  Regulation  14A
                                    promulgated under the Exchange Act) or other
                                    actual or threatened solicitation of proxies
                                    or   consents   by  or  on   behalf   of  an
                                    individual, corporation, partnership, group,
                                    associate  or other  entity or Person  other
                                    than the  Board,  cease  for any  reason  to
                                    constitute at least a majority of the Board;

                           (iii)    the    consummation    of   a   merger    or
                                    consolidation   of   the   Company   or  any
                                    subsidiary owning directly or indirectly all
                                    or  substantially  all of  the  consolidated
                                    assets  of  the   Company  (a   "Significant
                                    Subsidiary")  with any other  entity,  other
                                    than a merger or  consolidation  which would
                                    result  in  the  voting  securities  of  the
                                    Company   or   a   Significant    Subsidiary
                                    outstanding    immediately   prior   thereto
                                    continuing to represent (either by remaining
                                    outstanding  or  by  being   converted  into
                                    voting   securities   of  the  surviving  or
                                    resulting  entity)  more  than  50%  of  the
                                    combined  voting  power of the  surviving or
                                    resulting  entity  outstanding   immediately
                                    after such merger or consolidation;

                           (iv)     the  stockholders  of the Company  approve a
                                    plan   or   agreement   for   the   sale  or
                                    disposition of all or  substantially  all of
                                    the  consolidated   assets  of  the  Company
                                    (other  than  such  a  sale  or  disposition
                                    immediately  after which such assets will be
                                    owned   directly   or   indirectly   by  the
                                    stockholders of the Company in substantially
                                    the same  proportions as their  ownership of
                                    the common stock of the Company  immediately
                                    prior to such sale or  disposition) in which
                                    case the Board shall  reasonably and in good
                                    faith  determine the  effective  date of the
                                    Change in Control resulting therefrom; or

                           (v)      any  other  event  occurs  which  the  Board
                                    determines,   in   its   discretion,   would
                                    materially   alter  the   structure  of  the
                                    Company or its ownership.

         For purposes of this definition:

                                    (A)     The term  "Beneficial  Owner"  shall
                                            have the  meaning  ascribed  to such
                                            term  in  Rule   13d-3   under   the
                                            Exchange    Act    (including    any
                                            successor to such Rule).

                                    (B)     The term  "Exchange  Act"  means the
                                            Securities  Exchange Act of 1934, as
                                            amended  from  time to time,  or any
                                            successor act thereto.

                                    (C)     The  term  "Person"  shall  have the
                                            meaning  ascribed  to  such  term in
                                            Section  3(a)(9) of the Exchange Act
                                            and used in Sections 13(d) and 14(d)
                                            thereof,    including   "group"   as
                                            defined in Section 14(d) thereof.

<PAGE>

                  (d) Voluntary  Termination.  In the event of a termination  of
employment by Executive on his own initiative after delivery of 10 business days
advance  written  notice,  other than a termination due to death, a Constructive
Termination  Without  Cause,  or a Retirement  pursuant to Section  10(f) below,
Executive  shall have the same  entitlements  as provided in Section  10(b)(iii)
above for a termination  for Cause,  provided  that at the  Company's  election,
furnished  in writing  to  Executive  within 15 days  following  such  notice of
termination, the Company shall in addition pay Executive 140% of his Base Salary
for a period of 12 months  following such  termination in exchange for Executive
not engaging in  Competition  with the Company or any Subsidiary as set forth in
Section 13(a) below.  Notwithstanding any implication to the contrary, Executive
shall not have the right to terminate his employment with the Company during the
Term of Employment  except in the event of a  Constructive  Termination  Without
Cause or Retirement, and any voluntary termination of employment during the Term
of  Employment  in violation of this  Agreement  shall be  considered a material
breach;  provided  however,  if the Company  elects to pay Executive 140% of his
Base Salary in accordance  with this Section 10(d),  the Company shall waive any
and all claims it may have against  Executive  for any breach of this  Agreement
relating to his voluntary termination of employment unless Executive is found by
a court of competent  jurisdiction  not to be in  compliance  with Section 13(a)
below; provided further, however, that notwithstanding anything contained in the
foregoing to the  contrary,  it is not the intention of the Company to waive any
claims it may have against any third parties relating to a voluntary termination
by Executive in violation of this Agreement.

                  (e)  Termination  Without  Cause;   Constructive   Termination
Without  Cause or Voluntary  Termination  Following a Change in Control.  In the
event  Executive's  employment  with the  Company is  terminated  by the Company
without Cause (which  termination shall be effective as of the date specified by
the Company in a written  notice to Executive),  other than due to death,  or in
the event there is a Constructive  Termination Without Cause (as defined above),
in either  case  within  two years  following  a Change in Control  (as  defined
above),  Executive  shall  be  entitled  to and his  sole  remedies  under  this
Agreement shall be:

                           (i)      Base Salary  through the date of termination
                                    of  Executive's  employment,  which shall be
                                    paid in a single  lump sum not later than 15
                                    days  following  Executive's  termination of
                                    employment;

                           (ii)     an  amount  equal to two  times  Executive's
                                    Base  Salary,  at  the  annualized  rate  in
                                    effect  on  the  date  of   termination   of
                                    Executive's  employment  (or in the  event a
                                    reduction  in Base  Salary  is a basis for a
                                    Constructive Termination Without Cause, then
                                    the Base Salary in effect  immediately prior
                                    to such  reduction),  payable in a cash lump
                                    sum promptly  (but in no event later than 15
                                    days) following  Executive's  termination of
                                    employment;

                           (iii)    pro rata annual incentive award for the year
                                    in which  termination  occurs  assuming that
                                    Executive would have received an award equal
                                    to  40%  of  Base  Salary   (determined   in
                                    accordance with Section 10(e)(ii) above) for
                                    such  year,  payable  in  a  cash  lump  sum
                                    promptly  (but  in no  event  later  than 15
                                    days) following  Executive's  termination of
                                    employment;

                           (iv)     an amount  equal to 40% of such Base  Salary
                                    (determined   in  accordance   with  Section
                                    10(e)(ii) above)  multiplied by two, payable
                                    in a cash lump sum promptly (but in no event
                                    later  than 15 days)  following  Executive's
                                    termination of employment;

                           (v)      elimination  of  all   restrictions  on  any
                                    restricted  stock or deferred  stock  awards
                                    outstanding  at the time of  termination  of
                                    employment;

<PAGE>

                           (vi)     immediate  vesting of all outstanding  stock
                                    options  and the  right to  exercise  vested
                                    stock options granted prior to the Effective
                                    Date during the Severance  Period or for the
                                    remainder of the exercise  period,  if less;
                                    options  granted  after the  Effective  Date
                                    shall be  exercisable  for the  remainder of
                                    the exercise period;

                           (vii)    immediate   vesting   of   all   outstanding
                                    long-term  incentive  awards  and a pro rata
                                    payment  of  such  awards  based  on  Target
                                    Performance,  payable  in a lump sum in cash
                                    or stock  promptly  (but in no  event  later
                                    than   15   days)   following    Executive's
                                    termination of employment;

                           (viii)   the balance of any  incentive  awards earned
                                    as of December 31 of the prior year (but not
                                    yet paid),  which  shall be paid in a single
                                    lump sum not  later  than 15 days  following
                                    Executive's termination of employment;

                           (ix)     settlement  of  all  deferred   compensation
                                    arrangements in accordance with  Executive's
                                    duly  executed   Deferral   Election   Forms
                                    (unless   Executive   has   previously   and
                                    appropriately   elected  not  to  have  such
                                    settlement upon such a termination);

                           (x)      continued   participation  in  all  medical,
                                    health and life insurance  plans at the same
                                    benefit level at which he was  participating
                                    on the date of termination of his employment
                                    until the earlier of:

                                    (A)     the end of the Severance Period; or

                                    (B)     the  date,  or  dates,  he  receives
                                            equivalent   coverage  and  benefits
                                            under the plans  and  programs  of a
                                            subsequent  employer  (such coverage
                                            and benefits to be  determined  on a
                                            coverage-by-coverage,             or
                                            benefit-by-benefit, basis); provided
                                            that (1) if  Executive  is precluded
                                            from continuing his participation in
                                            any employee benefit plan or program
                                            as  provided  in this  clause (x) of
                                            this Section 10(e), he shall receive
                                            cash payments  equal on an after-tax
                                            basis   to  the   cost   to  him  of
                                            obtaining   the  benefits   provided
                                            under the plan or  program  in which
                                            he is unable to participate  for the
                                            period specified in this clause (ix)
                                            of this Section 10(e), (2) such cost
                                            shall  be  deemed  to be the  lowest
                                            reasonable   cost   that   would  be
                                            incurred by  Executive  in obtaining
                                            such    benefit    himself   on   an
                                            individual basis, and (3) payment of
                                            such amounts shall be made quarterly
                                            in advance;

                           (xi)     24 months  additional age and service credit
                                    for  purposes of  determining  the amount of
                                    Executive's  accrued benefits under any SERP
                                    maintained  by the  Company,  and  immediate
                                    vesting of any such benefits; and

                           (xii)    other  or  additional  benefits  then due or
                                    earned in accordance with  applicable  plans
                                    and programs of the Company.

For  purposes  of any  termination  pursuant  to this  Section  10(e),  the term
"Severance  Period" shall mean the period of 24 months following the termination
of Executive's employment.

<PAGE>

                  (f)  Retirement.   Upon  Executive's  Retirement  (as  defined
below),  Executive  shall  be  entitled  to and his  sole  remedies  under  this
Agreement shall be:

                           (i)      Base Salary  through the date of termination
                                    of  Executive's  employment,  which shall be
                                    paid in a single  lump sum not later than 15
                                    days  following  Executive's  termination of
                                    employment;

                           (ii)     pro rata annual incentive award for the year
                                    in  which  termination   occurs,   based  on
                                    performance  valuation  at the  end of  such
                                    year and payable in a cash lump sum promptly
                                    (but  in  no  event   later  than  15  days)
                                    thereafter;

                           (iii)    continued vesting (as if Executive  remained
                                    employed by the  Company) of any  restricted
                                    stock or deferred  stock awards  outstanding
                                    at   the   time   of  his   termination   of
                                    employment;

                           (iv)     continued vesting (as if Executive  remained
                                    employed by the Company) of all  outstanding
                                    stock  options  granted  after the Effective
                                    Date and the right to  exercise  such  stock
                                    options for the  remainder  of the  exercise
                                    period;   and   continued   vesting  of  all
                                    outstanding  options  granted  prior  to the
                                    Effective  Date and the  right  to  exercise
                                    such stock  options for a period of one year
                                    following  the later of the date the options
                                    are fully vested or Executive's  termination
                                    of employment  (or such longer period as may
                                    be  provided  in stock  options  granted  to
                                    other similarly  situated executive officers
                                    of the Company), or for the remainder of the
                                    exercise period, if less;

                           (v)      continued vesting (as if Executive  remained
                                    employed by the Company) of all  outstanding
                                    long-term  incentive  awards and  payment of
                                    such awards based on valuation at the end of
                                    the applicable performance periods,  payable
                                    in a lump  sum  in  cash  or  the  Company's
                                    common stock (with or without  restrictions)
                                    promptly  (but  in no  event  later  than 15
                                    days) thereafter;

                           (vi)     the balance of any  incentive  awards earned
                                    as of December 31 of the prior year (but not
                                    yet paid),  which  shall be paid in a single
                                    lump sum not  later  than 15 days  following
                                    Executive's termination of employment;

                           (vii)    settlement  of  all  deferred   compensation
                                    arrangements in accordance with  Executive's
                                    duly  executed   Deferral   Election   Forms
                                    (unless   Executive   has   previously   and
                                    appropriately   elected  not  to  have  such
                                    settlement at such time);

                           (viii)   continued   participation  in  all  medical,
                                    health and life insurance  plans at the same
                                    benefit level at which he was  participating
                                    on  the  date  of  the  termination  of  his
                                    employment until the earlier of:

                                    (A)     the  date   upon   which   Executive
                                            attains  65 years  of age,  provided
                                            that the Company shall bear the cost
                                            of such insurance until  Executive's
                                            60th   birthday   only;   thereafter
                                            Executive    shall   reimburse   the
                                            Company   for   the   cost  of  such
                                            insurance; or

<PAGE>

                                    (B)     the  date,  or  dates,  he  receives
                                            substantially   equivalent  coverage
                                            and  benefits  under  the  plans and
                                            programs  of a  subsequent  employer
                                            (such  coverage  and  benefits to be
                                            determined            on           a
                                            coverage-by-coverage,             or
                                            benefit-by-benefit, basis); provided
                                            that (1) if  Executive  is precluded
                                            from continuing his participation in
                                            any employee benefit plan or program
                                            as provided in this clause (viii) of
                                            this Section 10(f), he shall receive
                                            cash payments  equal on an after-tax
                                            basis   to  the   cost   to  him  of
                                            obtaining   the  benefits   provided
                                            under the plan or  program  in which
                                            he is unable to participate  for the
                                            period   specified  in  this  clause
                                            (viii) of this  Section  10(f),  (2)
                                            such cost  shall be deemed to be the
                                            lowest  cost that would be  incurred
                                            by  Executive   in  obtaining   such
                                            benefit  himself  on  an  individual
                                            basis,   and  (3)  payment  of  such
                                            amounts  shall be made  quarterly in
                                            advance; and

                           (ix)     other  or  additional  benefits  then due or
                                    earned in accordance with  applicable  plans
                                    and programs of the Company.

For purposes of this Agreement,  "Retirement"  shall mean Executive's  voluntary
termination  of  employment  with the  Company at the earlier of (i) at or after
attaining  age 55 and 15 years of service with the Company  (which shall include
all of  Executive's  years  of  service  with  Melville  Corporation),  and (ii)
attaining age 60.

                  (g) No Mitigation;  No Offset. In the event of any termination
of employment,  Executive shall be under no obligation to seek other employment;
amounts  due  Executive  under  this  Agreement  shall  not  be  offset  by  any
remuneration attributable to any subsequent employment that he may obtain.

                  (h) Nature of Payments.  Any amounts due under this Section 10
are in the nature of  severance  payments  considered  to be  reasonable  by the
Company and are not in the nature of a penalty.

                  (i) No Further Liability; Release. In the event of Executive's
termination  of  employment,  payment  made and  performance  by the  Company in
accordance with this Section 10 shall operate to fully discharge and release the
Company  and  its  directors,  officers,  employees,  subsidiaries,  affiliates,
stockholders,  successors,  assigns, agents and representatives from any further
obligation or liability with respect to Executive's rights under this Agreement.
Other than  payment and  performance  under this Section 10, the Company and its
directors,   officers,  employees,   subsidiaries,   affiliates,   stockholders,
successors, assigns, agents and representatives shall have no further obligation
or liability to Executive or any other person under this  Agreement in the event
of Executive's  termination  of employment.  The Company shall have the right to
condition the payment of any severance or other amounts pursuant to this Section
10 upon the  delivery  by  Executive  to the  Company  of a release  in the form
satisfactory  to the Company  releasing  any and all claims  Executive  may have
against  the  Company  and its  directors,  officers,  employees,  subsidiaries,
affiliates,  stockholders,   successors,  assigns,  agents  and  representatives
arising out of this Agreement.

         11.      Forfeiture Provisions.

                  (a)  Forfeiture  of Stock  Options and Other  Awards and Gains
Realized  Upon Prior Option  Exercises or Award  Settlements.  Unless  otherwise
determined by the Committee,  upon a termination  of Executive's  employment for
Cause,  Executive's  engaging in competition  with the Company or any Subsidiary
after a  voluntary  termination  of  employment  pursuant to Section  10(d),  or
Executive's  violation of any of the other  restrictive  covenants  contained in
Section 12, 13 or 14 (each a "Forfeiture  Event")  during the Term of Employment
and for 24 months thereafter, all of the following forfeitures will result:

                           (i)   The  unexercised  portion of any stock  option,
                                 whether or not vested,  and any other Award not
                                 then settled  (except for an Award that has not
                                 been settled solely due to an elective deferral
                                 by Executive and  otherwise is not  forfeitable
                                 in the event of any  termination of Executive's
                                 service)  will  be  immediately  forfeited  and
                                 canceled upon the  occurrence of the Forfeiture
                                 Event; and

                           (ii)  Executive  will be  obligated  to  repay to the
                                 Company,  in cash,  within five  business  days
                                 after  demand is made  therefor by the Company,
                                 the  total  amount  of Award  Gain (as  defined
                                 herein)   realized  by   Executive   upon  each
                                 exercise of a stock option or  settlement of an
                                 Award  (regardless  of any  elective  deferral)
                                 that occurred (A) during the period  commencing
                                 with the date  that is 24  months  prior to the
                                 occurrence of the Forfeiture Event and the date
                                 24 months after the  Forfeiture  Event,  if the
                                 Forfeiture  Event occurred while  Executive was
                                 employed  by the  Company  or a  Subsidiary  or
                                 affiliate,  or (B) during the period commencing
                                 24  months   prior  to  the  date   Executive's
                                 employment by the Company terminated and ending
                                 12 months (or, in the event that the Forfeiture
                                 Event is a breach of  Section  14,  24  months)
                                 after  the  date  of such  termination,  if the
                                 Forfeiture   Event  occurred  after   Executive
                                 ceased to be so employed.  For purposes of this
                                 Section,  the term "Award Gain" shall mean (i),
                                 in respect of a given  stock  option  exercise,
                                 the  product of (X) the Fair  Market  Value per
                                 share  of  common  stock  at the  date  of such
                                 exercise  (without  regard  to  any  subsequent
                                 change in the market price of shares) minus the
                                 exercise  price  times (Y) the number of shares
                                 as to which the stock  option was  exercised at
                                 that  date,  and (ii),  in respect of any other
                                 settlement  of an Award  granted to  Executive,
                                 the Fair Market Value of the cash or stock paid
                                 or  payable  to  Executive  (regardless  of any
                                 elective  deferral)  less  any cash or the Fair
                                 Market  Value of any stock or  property  (other
                                 than an Award or award  which would have itself
                                 then been  forfeitable  hereunder and excluding
                                 any  payment  of  tax   withholding)   paid  by
                                 Executive  to the Company as a condition  of or
                                 in connection with such settlement.

For purposes of this Agreement, "Award" shall mean any cash award, stock option,
stock  appreciation  right,  restricted  stock,  deferred  stock,  bonus  stock,
dividend equivalent,  or other stock-based or performance-based award or similar
award,  together  with any  related  right or  interest,  granted  to or held by
Executive (but excluding any annual cash incentive  award which is payable on an
annual  basis  and  is  determined  based  entirely  on  a  one-year  (or  less)
performance measurement period).

                    (b)  Committee   Discretion.   The  Committee  may,  in  its
discretion,  waive in whole or in part the Company's  right to forfeiture  under
this  Section,  but no such waiver  shall be  effective  unless  evidenced  by a
writing signed by a duly  authorized  officer of the Company.  In addition,  the
Committee  may  impose   additional   conditions  on  Awards,  by  inclusion  of
appropriate provisions in the document evidencing or governing any such Award.

                  12.  Confidentiality:  Cooperation  with Regard to Litigation;
Non-Disparagement; Return of Company Materials.

                  (a) During the Term of Employment  and  thereafter,  Executive
shall not, without the prior written consent of the Company,  disclose to anyone
(except in good faith in the ordinary course of business to a person who will be
advised by Executive to keep such  information  confidential) or make use of any
Confidential  Information  except in the performance of his duties  hereunder or
when  required to do so by legal  process,  by any  governmental  agency  having
supervisory  authority over the business of the Company or by any administrative
or  legislative  body  (including  a committee  thereof)  that  requires  him to
divulge,  disclose  or make  accessible  such  information.  In the  event  that
Executive is so ordered,  he shall give prompt  written notice to the Company in
order to allow the Company the opportunity to object to or otherwise resist such
order.

                  (b) During the Term of Employment  and  thereafter,  Executive
shall not disclose the  existence or contents of this  Agreement  beyond what is
disclosed in the proxy statement or documents  filed with the government  unless
and to the extent such disclosure is required by law, by a governmental  agency,
or in a document  required by law to be filed with a  governmental  agency or in
connection  with  enforcement of his rights under this  Agreement.  In the event
that  disclosure is so required,  Executive  shall give prompt written notice to
the  Company  in order to allow  the  Company  the  opportunity  to object to or
otherwise  resist such  requirement.  This  restriction  shall not apply to such
disclosure  by him to  members  of his  immediate  family,  his  tax,  legal  or
financial  advisors,  any lender,  or tax  authorities,  or to potential  future
employers to the extent necessary, each of whom shall be advised not to disclose
such information.

                  (c) "Confidential  Information" shall mean (i) all information
concerning the business of the Company or any Subsidiary  including  information
relating  to  any  of  their  products,  product  development,   trade  secrets,
customers,  suppliers,  finances,  and business plans and  strategies,  and (ii)
information regarding the organization  structure and the names, titles, status,
compensation,  benefits and other proprietary  employment-related aspects of the
employees of the Company and the Company's employment  practices.  Excluded from
the definition of Confidential Information is information (A) that is or becomes
part of the public  domain,  other than through the breach of this  Agreement by
Executive or (B) regarding the Company's  business or industry properly acquired
by  Executive  in the  course of his  career as an  executive  in the  Company's
industry and  independent  of  Executive's  employment by the Company.  For this
purpose,  information known or available  generally within the trade or industry
of the Company or any Subsidiary shall be deemed to be known or available to the
public.

                  (d)  "Subsidiary"   shall  mean  any  corporation   controlled
directly or indirectly by the Company.

                  (e) Executive agrees to cooperate with the Company, during the
Term of Employment and thereafter (including following  Executive's  termination
of employment for any reason), by making himself reasonably available to testify
on behalf of the Company or any  Subsidiary in any action,  suit, or proceeding,
whether civil,  criminal,  administrative,  or investigative,  and to assist the
Company,  or any  Subsidiary,  in any  such  action,  suit,  or  proceeding,  by
providing  information  and  meeting  and  consulting  with  the  Board  or  its
representatives or counsel, or representatives or counsel to the Company, or any
Subsidiary as  requested;  provided,  however that the same does not  materially
interfere with his then current professional  activities.  The Company agrees to
reimburse  Executive,  on an after-tax basis, for all expenses actually incurred
in connection with his provision of testimony or assistance.

                  (f) Executive  agrees that,  during the Term of Employment and
thereafter  (including following  Executive's  termination of employment for any
reason)  he  will  not  make   statements  or   representations,   or  otherwise
communicate,  directly or indirectly,  in writing, orally, or otherwise, or take
any action  which may,  directly  or  indirectly,  disparage  the Company or any
Subsidiary  or  their  respective  officers,  directors,   employees,  advisors,
businesses  or  reputations.  The  Company  agrees  that,  during  the  Term  of
Employment  and  thereafter  (including  following  Executive's  termination  of
employment   for  any  reason)  the  Company   will  not  make   statements   or
representations,  or otherwise communicate,  directly or indirectly, in writing,
orally,  or  otherwise,  or take any action  which may  directly or  indirectly,
disparage   Executive  or  his  business  or  reputation.   Notwithstanding  the
foregoing,  nothing in this  Agreement  shall preclude  either  Executive or the
Company from making  truthful  statements  or  disclosures  that are required by
applicable law, regulation, or legal process.

                  (g) Upon any  termination of employment,  Executive  agrees to
deliver any Company property and any documents, notes, drawings, specifications,
computer  software,  data and other  materials of any nature  pertaining  to any
Confidential Information that are held by Executive and will not take any of the
foregoing, or any reproduction of any of the foregoing,  that is embodied an any
tangible  medium of expression,  provided that the foregoing  shall not prohibit
Executive from retaining his personal phone directories and rolodexes.

         13.      Non-competition.

                  (a) During the Restriction Period (as defined in Section 13(b)
below),  Executive  shall not  engage in  Competition  with the  Company  or any
Subsidiary.  "Competition"  shall  mean  engaging  in any  activity,  except  as
provided below, for a Competitor of the Company or any Subsidiary, whether as an
employee, consultant,  principal, agent, officer, director, partner, shareholder
(except as a less than one percent  shareholder of a publicly traded company) or
otherwise.  A "Competitor"  shall mean (i) Bed Bath & Beyond,  Inc.,  Home Place
Inc., J.C. Penney,  Federated Department Stores, Mays, Target, Sears, Home Depot
and K-Mart (and any successor or successors thereto);  (ii) any home textiles or
housewares store, specialty store or other retailer if either $25 million or 40%
or more of its annual gross sales  revenues  (in either case,  based on the most
recent quarterly or annual financial statements  available) are derived from the
sale of home  textiles,  housewares or other goods or  merchandise  of the types
sold in the Company's (or any  Subsidiary's)  stores;  (iii) any  corporation or
other entity  whether  independent  or owned,  funded or controlled by any other
entity,  engaged or organized for the purpose of engaging,  in whole or in part,
in the sale of home  textiles,  housewares or other goods or  merchandise of the
types sold in the Company's (or any Subsidiary's) stores; (iv) any business that
provides buying office services to any business or group of businesses  referred
to above,  or (v) any  business (in the U.S. or any country in which the Company
or any Subsidiary  operates a store or stores) which is in material  competition
with the Company or any Subsidiary or division thereof and in which  Executive's
functions  would be  substantially  similar to  Executive's  functions  with the
Company. If Executive commences  employment or becomes a consultant,  principal,
agent,  officer,  director,  partner, or shareholder of any entity that is not a
Competitor  at the time  Executive  initially  becomes  employed  or  becomes  a
consultant,  principal, agent, officer, director, partner, or shareholder of the
entity, future activities of such entity shall not result in a violation of this
provision unless (x) such activities were  contemplated by Executive at the time
Executive initially became employed or becomes a consultant,  principal,  agent,
officer,  director,  partner,  or  shareholder  of the  entity or (y)  Executive
commences  directly  or  indirectly  to  advise,  plan,  oversee  or manage  the
activities  of an entity  which  becomes a  Competitor  during  the  Restriction
Period,  that activities are  competitive  with the activities of the Company or
any Subsidiary.

                  (b) For the purposes of this Section 13, "Restriction  Period"
shall mean the period beginning with the Effective Date and ending with:

                           (i)      in the case of a termination  of Executive's
                                    employment  without Cause or a  Constructive
                                    Termination  Without Cause,  the Restriction
                                    Period  shall  terminate   immediately  upon
                                    Executive's termination of employment;

                           (ii)     in the case of a termination  of Executive's
                                    employment  for  Cause,  24 months  from the
                                    date of such termination;

                           (iii)    in the case of a  voluntary  termination  of
                                    Executive's  employment  pursuant to Section
                                    10(d)  above   followed  by  the   Company's
                                    election to pay  Executive  (and  subject to
                                    the payment of) 140% of his Base Salary,  as
                                    provided in Section  10(d) above,  the first
                                    anniversary of such termination;

                           (iv)     in the case of a  voluntary  termination  of
                                    Executive's  employment  pursuant to Section
                                    10(d)  above  which is not  followed  by the
                                    Company's  election  to pay  Executive  such
                                    140%  of  Base  Salary,  the  date  of  such
                                    termination; or

                           (v)      in the  case  of a  Retirement  pursuant  to
                                    Section  10(f) above,  the  remainder of the
                                    Term of Employment.

         14.      Non-solicitation of Employees.

                  During the period beginning with the Effective Date and ending
24 months following the termination or other cessation of Executive's employment
for any  reason,  Executive  shall not induce  employees  of the  Company or any
Subsidiary to terminate their employment;  provided, however, that the foregoing
shall not be construed to prevent Executive from engaging in generic nontargeted
advertising  for employees  generally.  During such period,  Executive shall not
hire,  either  directly or through any employee,  agent or  representative,  any
employee of the Company or any  Subsidiary or any person who was employed by the
Company or any Subsidiary within 180 days of such hiring.

         15.      Remedies.

                  In addition to whatever  other rights and remedies the Company
may have at  equity  or in law,  if  Executive  breaches  any of the  provisions
contained in Sections 12, 13 or 14 above,  the Company (a) shall have its rights
under  Section 11 of this  Agreement,  (b) shall  have the right to  immediately
terminate all payments and benefits due under this  Agreement and (c) shall have
the right to seek injunctive relief.  Executive  acknowledges that such a breach
of Sections 12, 13 or 14 would cause  irreparable  injury and that money damages
would not provide an adequate  remedy for the Company;  provided,  however,  the
foregoing  shall not prevent  Executive from contesting the issuance of any such
injunction on the ground that no violation or  threatened  violation of Sections
12, 13 or 14 has occurred.

         16.      Resolution of Disputes.

                  Any  controversy  or claim  arising out of or relating to this
Agreement or any breach or asserted  breach hereof or  questioning  the validity
and binding  effect hereof arising under or in connection  with this  Agreement,
other than  seeking  injunctive  relief  under  Section 15, shall be resolved by
binding arbitration,  to be held at an office closest to the Company's principal
offices in accordance with the rules and procedures of the American  Arbitration
Association,  except that disputes  arising under or in connection with Sections
12, 13 and 14 above shall be  submitted  to the  federal or state  courts in the
State of New Jersey.  Judgment upon the award rendered by the  arbitrator(s) may
be entered in any court having jurisdiction  thereof.  Pending the resolution of
any arbitration or court  proceeding,  the Company shall continue payment of all
amounts and benefits due Executive  under this Agreement.  All reasonable  costs
and expenses (including fees and disbursements of counsel) incurred by Executive
pursuant  to this  Section  16  shall  be paid on  behalf  of or  reimbursed  to
Executive  promptly by the  Company;  provided,  however,  that in the event the
arbitrator(s)  determine(s)  that any of  Executive's  litigation  assertions or
defenses are determined to be in bad faith or frivolous,  no such reimbursements
shall be due Executive, and any such expenses already paid to Executive shall be
immediately returned by Executive to the Company.

         17.      Indemnification.

                   (a) Company  Indemnity.  The Company agrees that if Executive
is made a party,  or is  threatened to be made a party,  to any action,  suit or
proceeding,   whether  civil,  criminal,   administrative  or  investigative  (a
"Proceeding"),  by reason of the fact that he is or was a  director,  officer or
employee of the Company or any Subsidiary or is or was serving at the request of
the Company or any Subsidiary as a director,  officer, member, employee or agent
of another corporation,  partnership,  joint venture, trust or other enterprise,
including  service with respect to employee  benefit  plans,  whether or not the
basis of such Proceeding is Executive's  alleged action in an official  capacity
while serving as a director, officer, member, employee or agent, Executive shall
be  indemnified  and held harmless by the Company to the fullest  extent legally
permitted or authorized by the Company's  certificate of incorporation or bylaws
or resolutions of the Company's  Board or, if greater,  by the laws of the State
of Delaware against all cost,  expense,  liability and loss (including,  without
limitation,  attorney's fees, judgments,  fines, ERISA excise taxes or penalties
and amounts paid or to be paid in settlement) reasonably incurred or suffered by
Executive in connection therewith, and such indemnification shall continue as to
Executive even if he has ceased to be a director,  member, officer,  employee or
agent  of the  Company  or other  entity  and  shall  inure  to the  benefit  of
Executive's heirs,  executors and  administrators.  The Company shall advance to
Executive all reasonable  costs and expenses to be incurred by him in connection
with a  Proceeding  within 20 days  after  receipt  by the  Company of a written
request for such advance. Such request shall include an undertaking by Executive
to repay the amount of such advance if it shall ultimately be determined that he
is  not  entitled  to be  indemnified  against  such  costs  and  expenses.  The
provisions  of this  Section  17(a) shall not be deemed  exclusive  of any other
rights of  indemnification  to which  Executive  may be entitled or which may be
granted to him, and it shall be in addition to any rights of  indemnification to
which he may be entitled under any policy of insurance.

                  (b) No Presumption Regarding Standard of Conduct.  Neither the
failure of the  Company  (including  its  Board,  independent  legal  counsel or
stockholders)  to have made a  determination  prior to the  commencement  of any
proceeding  concerning  payment of amounts  claimed by Executive  under  Section
17(a) above that  indemnification  of Executive is proper because he has met the
applicable  standard of conduct,  nor a determination by the Company  (including
its Board, independent legal counsel or stockholders) that Executive has not met
such applicable  standard of conduct,  shall create a presumption that Executive
has not met the applicable standard of conduct.

                  (c) Liability  Insurance.  The Company  agrees to continue and
maintain a directors and officers' liability insurance policy covering Executive
to the  extent  the  Company  provides  such  coverage  for its other  executive
officers.

         18.      Excise Tax Gross-Up.

                  If Executive  becomes entitled to one or more payments (with a
"payment"  including,  without  limitation,  the  vesting  of an option or other
non-cash  benefit or property),  whether pursuant to the terms of this Agreement
or any other plan, arrangement,  or agreement with the Company or any affiliated
company (the "Total  Payments"),  which are or become subject to the tax imposed
by Section  4999 of the Internal  Revenue Code of 1986,  as amended (the "Code")
(or any similar tax that may  hereafter  be imposed)  (the  "Excise  Tax"),  the
Company shall pay to Executive at the time specified below an additional  amount
(the "Gross-up Payment") (which shall include, without limitation, reimbursement
for any  penalties  and interest  that may accrue in respect of such Excise Tax)
such that the net amount  retained by Executive,  after reduction for any Excise
Tax (including any penalties or interest  thereon) on the Total Payments and any
federal, state and local income or employment tax and Excise Tax on the Gross-up
Payment  provided for by this Section 18, but before  reduction for any federal,
state, or local income or employment tax on the Total  Payments,  shall be equal
to the sum of (a) the Total Payments,  and (b) an amount equal to the product of
any  deductions  disallowed  for  federal,  state,  or local income tax purposes
because of the inclusion of the Gross-up  Payment in Executive's  adjusted gross
income multiplied by the highest applicable marginal rate of federal,  state, or
local income taxation, respectively, for the calendar year in which the Gross-up
Payment is to be made.  For  purposes  of  determining  whether any of the Total
Payments will be subject to the Excise Tax and the amount of such Excise Tax:

                           (i)      The  Total  Payments  shall  be  treated  as
                                    "parachute  payments"  within the meaning of
                                    Section  280G(b)(2)  of the  Code,  and  all
                                    "excess   parachute   payments"  within  the
                                    meaning  of Section  280G(b)(1)  of the Code
                                    shall be  treated  as  subject to the Excise
                                    Tax, unless,  and except to the extent that,
                                    in  the  written   opinion  of   independent
                                    compensation    consultants,    counsel   or
                                    auditors of nationally  recognized  standing
                                    ("Independent  Advisors")  selected  by  the
                                    Company   and   reasonably   acceptable   to
                                    Executive,  the Total  Payments (in whole or
                                    in   part)  do  not   constitute   parachute
                                    payments,  or such excess parachute payments
                                    (in whole or in part)  represent  reasonable
                                    compensation for services  actually rendered
                                    within the meaning of Section  280G(b)(4) of
                                    the Code in excess of the base amount within
                                    the  meaning  of Section  280G(b)(3)  of the
                                    Code or are  otherwise  not  subject  to the
                                    Excise Tax;

                           (ii)     The amount of the Total Payments which shall
                                    be  treated  as  subject  to the  Excise Tax
                                    shall  be  equal  to the  lesser  of (A) the
                                    total  amount of the Total  Payments  or (B)
                                    the  total   amount   of  excess   parachute
                                    payments   within  the  meaning  of  Section
                                    280G(b)(1)  of  the  Code  (after   applying
                                    clause (i) above); and

                           (iii)    The value of any  non-cash  benefits  or any
                                    deferred   payment  or   benefit   shall  be
                                    determined  by the  Independent  Advisors in
                                    accordance  with the  principles of Sections
                                    280G(d)(3) and (4) of the Code.

<PAGE>

                  For  purposes  of  determining  the  amount  of  the  Gross-up
Payment,  Executive  shall be  deemed  (A) to pay  federal  income  taxes at the
highest  marginal rate of federal income taxation for the calendar year in which
the Gross-up  Payment is to be made; (B) to pay any  applicable  state and local
income taxes at the highest  marginal  rate of taxation for the calendar year in
which the  Gross-up  Payment  is to be made,  net of the  maximum  reduction  in
federal  income taxes which could be obtained  from  deduction of such state and
local taxes if paid in such year  (determined  without  regard to limitations on
deductions based upon the amount of Executive's  adjusted gross income); and (C)
to have otherwise allowable deductions for federal,  state, and local income tax
purposes  at least equal to those  disallowed  because of the  inclusion  of the
Gross-up  Payment in Executive's  adjusted  gross income.  In the event that the
Excise Tax is  subsequently  determined  to be less than the  amount  taken into
account  hereunder at the time the  Gross-up  Payment is made,  Executive  shall
repay to the Company at the time that the amount of such reduction in Excise Tax
is finally  determined (but, if previously paid to the taxing  authorities,  not
prior to the time the amount of such  reduction  is  refunded  to  Executive  or
otherwise  realized  as a benefit by  Executive)  the  portion  of the  Gross-up
Payment  that would not have been paid if such  Excise  Tax had been  applied in
initially  calculating the Gross-up Payment, plus interest on the amount of such
repayment  at the rate  provided in Section  1274(b)(2)(B)  of the Code.  In the
event that the Excise Tax is  determined to exceed the amount taken into account
hereunder at the time the Gross-up  Payment is made  (including by reason of any
payment the existence or amount of which cannot be determined at the time of the
Gross-up  Payment),  the Company  shall make an additional  Gross-up  Payment in
respect of such excess (plus any interest and penalties  payable with respect to
such excess) at the time that the amount of such excess is finally determined.

                  The Gross-up  Payment  provided for above shall be paid on the
30th day (or such  earlier date as the Excise Tax becomes due and payable to the
taxing authorities) after it has been determined that the Total Payments (or any
portion thereof) are subject to the Excise Tax; provided,  however,  that if the
amount of such Gross-up Payment or portion thereof cannot be finally  determined
on or before  such  day,  the  Company  shall  pay to  Executive  on such day an
estimate,  as determined by the Independent  Advisors,  of the minimum amount of
such  payments  and shall pay the  remainder  of such  payments  (together  with
interest at the rate provided in Section  1274(b)(2)(B) of the Code), as soon as
the  amount  thereof  can be  determined.  In the event  that the  amount of the
estimated payments exceeds the amount subsequently  determined to have been due,
such excess shall constitute a loan by the Company to Executive,  payable on the
fifth day after  demand  by the  Company  (together  with  interest  at the rate
provided  in  Section  1274(b)(2)(B)  of the  Code).  If more than one  Gross-up
Payment is made, the amount of each Gross-up Payment shall be computed so as not
to duplicate  any prior  Gross-up  Payment.  The Company shall have the right to
control all  proceedings  with the  Internal  Revenue  Service that may arise in
connection with the  determination  and assessment of any Excise Tax and, at its
sole  option,  the  Company  may  pursue  or forego  any and all  administrative
appeals,  proceedings,  hearings,  and conferences  with any taxing authority in
respect of such  Excise Tax  (including  any  interest  or  penalties  thereon);
provided, however, that the Company's control over any such proceedings shall be
limited to issues  with  respect to which a  Gross-up  Payment  would be payable
hereunder,  and Executive shall be entitled to settle or contest any other issue
raised by the Internal Revenue Service or any other taxing authority.  Executive
shall   cooperate  with  the  Company  in  any   proceedings   relating  to  the
determination  and  assessment of any Excise Tax and shall not take any position
or action that would  materially  increase  the amount of any  Gross-up  Payment
hereunder.

         19.      Effect of Agreement on Other Benefits.

                  Except  as  specifically  provided  in  this  Agreement,   the
existence of this Agreement  shall not be  interpreted to preclude,  prohibit or
restrict Executive's  participation in any other employee benefit or other plans
or programs in which he currently participates.

         20.      Assignability: Binding Nature.

                  This Agreement  shall be binding upon and inure to the benefit
of the Parties and their respective successors, heirs (in the case of Executive)
and  permitted  assigns.  No rights or  obligations  of the  Company  under this
Agreement may be assigned or  transferred by the Company except that such rights
or obligations  may be assigned or  transferred  in connection  with the sale or
transfer of all or substantially all of the assets of the Company, provided that
the assignee or transferee is the successor to all or  substantially  all of the
assets of the Company and such assignee or transferee  assumes the  liabilities,
obligations and duties of the Company,  as contained in this  Agreement,  either
contractually  or as a matter of law. The Company  further  agrees that,  in the
event of a sale or transfer of assets as described in the preceding sentence, it
shall take  whatever  action it legally  can in order to cause such  assignee or
transferee to expressly  assume the  liabilities,  obligations and duties of the
Company  hereunder.  No rights or obligations of Executive  under this Agreement
may  be  assigned  or  transferred  by  Executive   other  than  his  rights  to
compensation and benefits, which may be transferred only by will or operation of
law, except as provided in Section 26 below.

         21.      Representation.

                  The  Company   represents   and  warrants  that  it  is  fully
authorized and empowered to enter into this  Agreement and that the  performance
of its obligations  under this Agreement will not violate any agreement  between
it and any other person, firm or organization.

         22.      Entire Agreement.

                  This Agreement contains the entire understanding and agreement
between  the  Parties  concerning  the  subject  matter  hereof  and,  as of the
Effective Date,  supersedes all prior agreements,  understandings,  discussions,
negotiations and undertakings, whether written or oral, between the Parties with
respect  thereto,  including,  without  limitation  any prior  change in control
agreement between the Parties,  except for certain rights regarding  Executive's
stock  options  granted  after  October  1996  and  prior  to the  date  of this
Agreement,  which shall be governed by the terms of Executive's  1996 employment
agreement  as if such  1996  employment  agreement  remained  in full  force and
effect.

         23.      Amendment or Waiver.

                  No  provision  in this  Agreement  may be amended  unless such
amendment  is agreed to in writing  and signed by  Executive  and an  authorized
officer of the  Company.  Except as set forth  herein,  no delay or  omission to
exercise any right,  power or remedy accruing to any Party shall impair any such
right,  power  or  remedy  or  shall  be  construed  to  be a  waiver  of  or an
acquiescence  to any breach  hereof.  No waiver by either Party of any breach by
the other Party of any condition or provision  contained in this Agreement to be
performed  by such  other  Party  shall  be  deemed  a waiver  of a  similar  or
dissimilar  condition or provision at the same or any prior or subsequent  time.
Any waiver must be in writing and signed by Executive or an  authorized  officer
of the Company, as the case may be.

         24.      Severability.

                  In the event that any  provision or portion of this  Agreement
shall be determined to be invalid or unenforceable  for any reason,  in whole or
in part, the remaining  provisions of this Agreement shall be unaffected thereby
and shall  remain in full force and effect to the fullest  extent  permitted  by
law.

         25.      Survivorship.

                  The respective rights and obligations of the Parties hereunder
shall survive any termination of Executive's  employment to the extent necessary
to the intended preservation of such rights and obligations.

         26.      Beneficiaries/References.

                  Executive shall be entitled, to the extent permitted under any
applicable law, to select and change a beneficiary or  beneficiaries  to receive
any compensation or benefit payable  hereunder  following  Executive's  death by
giving the Company written notice thereof.  In the event of Executive's death or
a judicial  determination  of his  incompetence,  reference in this Agreement to
Executive  shall be  deemed,  where  appropriate,  to refer to his  beneficiary,
estate or other legal representative.

         27.      Governing Law/Jurisdiction.

                  This  Agreement   shall  be  governed  by  and  construed  and
interpreted  in  accordance  with the laws of New Jersey  without  reference  to
principles of conflict of laws. Subject to Section 16, the Company and Executive
hereby  consent to the  jurisdiction  of any or all of the following  courts for
purposes of resolving  any dispute under this  Agreement:  (i) the United States
District  Court  for New  Jersey  or (ii) any of the  courts of the State of New
Jersey.  The Company and Executive  further agree that any service of process or
notice  requirements in any such  proceeding  shall be satisfied if the rules of
such court relating thereto have been substantially  satisfied.  The Company and
Executive  hereby waive, to the fullest extent  permitted by applicable law, any
objection which it or he may now or hereafter have to such  jurisdiction and any
defense of inconvenient forum.

         28.      Notices.

                  Any notice  given to a Party  shall be in writing and shall be
deemed to have been given when  delivered  personally  or sent by  certified  or
registered mail, postage prepaid,  return receipt  requested,  duly addressed to
the Party concerned at the address indicated below or to such changed address as
such Party may subsequently give such notice of:

                  If to the Company:        Linens 'n Things, Inc.
                                            6 Brighton Road
                                            Clifton, New Jersey 07015-5108
                                            Attention: Secretary

                  If to Executive:          Hugh Scullin
                                            106 Orion Way
                                            Neshanic Station, NJ 08853

         29.      Headings.

                  The headings of the sections  contained in this  Agreement are
for convenience only and shall not be deemed to control or affect the meaning or
construction of any provision of this Agreement.

         30.      Counterparts.

                  This Agreement may be executed in two or more counterparts.

         IN WITNESS WHEREOF,  the undersigned have executed this Agreement as of
the date first written above.

                                            LINENS 'N THINGS, INC.

                                            By:_______________________________
                                            Name:
                                            Title:

                                            EXECUTIVE

                                            __________________________________
                                            Hugh ScullinLINENS 'N THINGS, INC.

                      Employment Agreement for Brian Silva

<PAGE>

<TABLE>
<CAPTION>

                             LINENS 'N THINGS, INC.

                      Employment Agreement for Brian Silva

                                                                                                               Page
         <S>   <C>                                                                                             <C>
         1.    Definitions................................................................................      1
         2.    Term of Employment.........................................................................      2
         3.    Position, Duties and Responsibilities......................................................      3
         4.    Base Salary................................................................................      3
         5.    Annual Incentive Awards....................................................................      3
         6.    Long-Term Stock Incentive Programs.........................................................      3
         7.    Employee Benefit Programs..................................................................      4
         8.    Disability.................................................................................      5
         9.    Reimbursement of Business and Other Expenses; Perquisites..................................      6
         10.   Termination of Employment..................................................................      6
         11.   Forfeiture Provisions......................................................................     16
         12    Confidentiality; Cooperation with Regard to Litigation; Non-Disparagement;
               Return of Company Materials................................................................     17
         13.   Non-competition............................................................................     18
         14.   Non-solicitation of Employees..............................................................     19
         15.   Remedies...................................................................................     19
         16.   Resolution of Disputes.....................................................................     19
         17.   Indemnification............................................................................     20
         18.   Excise Tax Gross-Up........................................................................     20
         19.   Effect of Agreement on Other Benefits......................................................     22
         20.   Assignability; Binding Nature..............................................................     23
         21.   Representation.............................................................................     23
         22.   Entire Agreement...........................................................................     23
         23.   Amendment or Waiver........................................................................     23
         24.   Severability...............................................................................     24
         25.   Survivorship...............................................................................     24
         26.   Beneficiaries/References...................................................................     24
         27.   Governing Law/Jurisdiction.................................................................     24
         28.   Notices....................................................................................     24
         29.   Headings...................................................................................     25
         30.   Counterparts...............................................................................     25

</TABLE>
<PAGE>

                              EMPLOYMENT AGREEMENT

         AGREEMENT, made and entered into as of the 12th day of October, 2000 by
and among Linens 'n Things,  Inc.,  a Delaware  corporation  (together  with its
successors and assigns, the "Company"), and Brian Silva (the "Executive").

                              W I T N E S S E T H:

         WHEREAS,  the Company desires to continue to employ Executive  pursuant
to an agreement  embodying the terms of such employment  (this  "Agreement") and
Executive  desires to enter into this  Agreement and to accept such  employment,
subject to the terms and provisions of this Agreement;

         NOW,  THEREFORE,  in consideration of the premises and mutual covenants
contained herein and for other good and valuable  consideration,  the receipt of
which is  mutually  acknowledged,  the  Company and  Executive  (individually  a
"Party" and together the "Parties") agree as follows:

         1 .      Definitions.

                  (a)      "Award"  shall have the  meaning set forth in Section
                           11 below.

                  (b)      "Base  Salary"  shall have the  meaning  set forth in
                           Section 4 below.

                  (c)      "Board"  shall have the  meaning set forth in Section
                           3(a) below.

                  (d)      "Cause"  shall have the  meaning set forth in Section
                           10(b) below.

                  (e)      "Change in Control"  shall have the meaning set forth
                           in Section 10(c) below.

                  (f)      "Committee"  shall  have  the  meaning  set  forth in
                           Section 4 below.

                  (g)      "Competition"  shall  have the  meaning  set forth in
                           Section 13(a) below.

                  (h)      "Confidential Information" shall have the meaning set
                           forth in Section 12(c) below.

                  (i)      "Constructive  Termination  Without Cause" shall have
                           the meaning set forth in Section 10(c) below.

                  (j)      "Effective  Date" shall have the meaning set forth in
                           Section 2(a) below.

                  (k)      "Fair Market  Value" shall have the meaning set forth
                           in Section 6(b) below.

                  (l)      "Forfeiture  Event"  shall have the meaning set forth
                           in Section 11 below.

                  (m)      "Original Term of Employment"  shall have the meaning
                           set forth in Section 2(a) below.

                  (n)      "Renewal  Term"  shall have the  meaning set forth in
                           Section 2(a) below.

                  (o)      "Restriction Period" shall have the meaning set forth
                           in Section 13(b) below.

                  (p)      "Retirement"  shall  have the  meaning  set  forth in
                           Section 10(f) below.

                  (q)      "Target Performance" shall have the meaning set forth
                           in Section 10(a) below.

                  (r)      "Severance  Period"  shall have the meaning set forth
                           in  Section  10(c)(ii)  below,   except  as  provided
                           otherwise in Section 10(e) below.

                  (s)      "Subsidiary"  shall  have the  meaning  set  forth in
                           Section 12(d) below.

                  (t)      "Term of Employment" shall have the meaning set forth
                           in Section 2(a) below.

         2.       Term of Employment.

                  (a) The term of  Executive's  employment  under this Agreement
shall  commence  immediately  upon the date of this  agreement  (the  "Effective
Date") and end on December 31, 2004 (the "Original Term of Employment"),  unless
terminated earlier in accordance herewith. The Original Term of Employment shall
be  automatically  renewed for successive  one-year terms (the "Renewal  Terms")
unless  at  least  180 days  prior to the  expiration  of the  Original  Term of
Employment or any Renewal Term, either Party notifies the other Party in writing
that he or it is electing to terminate  this  Agreement at the expiration of the
then current Term of Employment.  "Term of  Employment"  shall mean the Original
Term of Employment and all Renewal Terms.

                  (b) In the event that this  Agreement  is not renewed  because
the Company has given the 180-day notice  prescribed in the preceding  paragraph
on or before the  expiration  of the Original  Term of Employment or any Renewal
Term and, in either case,  should such notice  result in the  expiration  of the
Term of Employment prior to Executive's 60th birthday, such non-renewal shall be
treated as a "Constructive Termination Without Cause" pursuant to Section 10(c).

                  (c) In the event that this  Agreement  is not renewed  because
Executive has given the 180-day  notice  prescribed in Section 2(a) on or before
the  expiration of the Original  Term of  Employment  or any Renewal Term,  such
non-renewal  shall be treated as a  Termination  for Cause for the  purposes  of
Sections  10(b)(iii)  and 13(b) but not for purposes of Section 11 and Executive
shall have the same entitlements as provided in Section 10(b)(iii) below.

                  (d)   Notwithstanding   anything  in  this  Agreement  to  the
contrary,  at least one year prior to the  expiration  of the  Original  Term of
Employment,  upon the written  request of the Company or Executive,  the Parties
shall meet to discuss this  Agreement  and may agree in writing to modify any of
the terms of this Agreement.

         3.       Position, Duties and Responsibilities.

                  (a) Generally.  Executive shall serve as a senior executive of
the Company. Executive shall have and perform such duties, responsibilities, and
authorities  as shall be  specified  by the Company from time to time and as are
customary  for a senior  executive of a publicly held  corporation  of the size,
type,  and nature of the  Company as they may exist from time to time and as are
consistent with such position and status.  Executive shall devote  substantially
all of his  business  time and  attention  (except  for  periods of  vacation or
absence due to illness), and his best efforts, abilities, experience, and talent
to his position and the businesses of the Company.

                  (b)  Other   Activities.   Anything  herein  to  the  contrary
notwithstanding,  nothing in this Agreement  shall  preclude  Executive from (i)
serving on the boards of directors of a reasonable number of other  corporations
or the boards of a reasonable  number of trade  associations  and/or  charitable
organizations, (ii) engaging in charitable activities and community affairs, and
(iii)  managing  his  personal  investments  and  affairs,  provided  that  such
activities do not materially interfere with the proper performance of his duties
and responsibilities under this Agreement.

                  (c)  Place  of  Employment.  Executive's  principal  place  of
employment shall be the principal corporate offices of the Company.

         4.       Base Salary.

                  Executive shall be paid an annualized salary,  ("Base Salary")
payable in accordance with the regular payroll practices of the Company,  of not
less than  $242,000,  subject to review for  increase at the  discretion  of the
Compensation  Committee (the  "Committee")  of the Company's  Board of Directors
(the "Board").

         5.       Annual Incentive Awards.

                  Executive shall  participate in the Company's annual incentive
compensation  plan with a target annual  incentive award  opportunity of no less
than 40% of Base Salary and a maximum annual incentive award  opportunity of 80%
of Base Salary.  Payment of annual  incentive awards shall be made no later than
75 days after the Company's fiscal year-end unless Executive agrees otherwise.

         6.       Long-Term Incentive Programs.

                  Executive  shall be eligible to  participate  in the Company's
long-term  incentive  compensation  programs  including cash and/or stock grants
with or without  restrictions on a deferred or current basis with a target award
opportunity of not less than 30% of Base Salary, and stock option grants.

         7.       Employee Benefit Programs.

                  (a) General Benefits. During the Term of Employment, Executive
shall be entitled to  participate in such employee  pension and welfare  benefit
plans  and  programs  of the  Company  as are made  available  to the  Company's
senior-level executives or to its employees generally, as such plans or programs
may be in  effect  from time to time,  including,  without  limitation,  health,
medical, dental, long-term disability, travel accident and life insurance plans.
As a non-officer  employee,  Executive  shall be entitled to  participate in the
Company's insured welfare benefit plans and programs.

                  (b)  Deferral of  Compensation.  The Company  shall  implement
deferral  arrangements,  reasonably  acceptable  to  Executive  and the Company,
permitting  Executive to elect to defer  receipt,  pursuant to written  deferral
election terms and forms (the "Deferral Election Forms"),  of all or a specified
portion of (i) his annual Base Salary and annual  incentive  compensation  under
Sections  4 and 5, (ii) long term  incentive  compensation  under  Section 6 and
(iii) shares acquired upon exercise of stock options to purchase  Company common
stock that are  acquired  in an exercise in which  Executive  pays the  exercise
price by the surrender of previously  acquired shares,  to the extent of the net
additional  shares otherwise  issuable to Executive in such exercise;  provided,
however,   that  such  deferrals  shall  not  reduce   Executive's   total  cash
compensation  in any calendar year below the sum of (A) the FICA maximum taxable
wage base plus (B) the amount needed, on an after-tax basis, to enable Executive
to pay the  1.45%  Medicare  tax  imposed  on his  wages in  excess of such FICA
maximum taxable wage base.

                  In accordance with such duly executed Deferral Election Forms,
the Company shall credit to a bookkeeping  account (the  "Deferred  Compensation
Account")  maintained  for  Executive on the  respective  payment date or dates,
amounts  equal to the  compensation  subject  to  deferral,  such  credits to be
denominated in cash if the compensation would have been paid in cash but for the
deferral or in shares if the compensation would have been paid in shares but for
the deferral.  An amount of cash equal in value to all cash-denominated  amounts
credited to  Executive's  account and a number of shares of Company common stock
equal to the number of shares credited to Executive's  account  pursuant to this
Section  7(b)  shall  be  transferred  as soon  as  practicable  following  such
crediting by the Company to, and shall be held and  invested by, an  independent
trustee  selected by the Company  and  reasonably  acceptable  to  Executive  (a
"Trustee")  pursuant to a "rabbi trust" established by the Company in connection
with  such  deferral  arrangement  and  as  to  which  the  Trustee  shall  make
investments  based on  Executive's  investment  objectives  (including  possible
investment  in publicly  traded stocks and bonds,  mutual  funds,  and insurance
vehicles). Thereafter, Executive's deferral accounts will be valued by reference
to the value of the assets of the "rabbi trust". The Company shall pay all costs
of administration or maintenance of the deferral arrangement,  without deduction
or reimbursement from the assets of the "rabbi trust."

                  Except as otherwise provided under Section 10, in the event of
Executive's   termination  of  employment  with  the  Company  or  as  otherwise
determined  by the  Committee in the event of  Executive's  hardship,  upon such
date(s) or event(s) set forth in the Deferral  Election Forms  (including  forms
filed after  deferral  but before  settlement  in which  Executive  may elect to
further defer  settlement),  the Company shall promptly  distribute to Executive
any shares of Company common stock credited to Executive's deferred accounts and
pay to Executive  cash equal to the value of any other  assets then  credited to
Executive's  deferral  accounts,  less applicable  withholding  taxes,  and such
distribution shall be deemed to fully settle such accounts;  provided,  however,
that the Company may instead  settle such  accounts by directing  the Trustee to
distribute  such other  assets of the "rabbi  trust." The Company and  Executive
agree that  compensation  deferred  pursuant to this Section 7(b) shall be fully
vested  and   nonforfeitable   (subject  to  Section  11);  however,   Executive
acknowledges that his rights to the deferred  compensation  provided for in this
Section 7(b) shall be no greater than those of a general  unsecured  creditor of
the  Company,  and  that  such  rights  may  not  be  pledged,   collateralized,
encumbered,  hypothecated,  or liable for or subject to any lien, obligation, or
liability of Executive, or be assignable or transferable by Executive, otherwise
than by will or the laws of descent and  distribution,  provided that  Executive
may designate one or more  beneficiaries  to receive any payment of such amounts
in the event of his death.

         8.       Disability.

                  (a)  During  the Term of  Employment,  as well as  during  the
Severance  Period,  Executive  shall  be  entitled  to  disability  coverage  as
described in this Section 8(a). In the event Executive becomes disabled, as that
term is defined under the Company's Long-Term  Disability Plan,  Executive shall
be entitled to receive  pursuant to the Company's  Long-Term  Disability Plan or
otherwise,  and in place of his Base Salary,  an amount equal to 60% of his Base
Salary, at the annual rate in effect on the commencement date of his eligibility
for the Company's  long-term  disability  benefits  ("Commencement  Date") for a
period beginning on the  Commencement  Date and ending with the earlier to occur
of (A)  Executive's  attainment  of age 65 or (B)  Executive's  commencement  of
retirement  benefits from the Company in accordance with Section 10(f) below. If
(i) Executive ceases to be disabled during the Term of Employment (as determined
in  accordance  with  the  terms of the  Long-Term  Disability  Plan),  (ii) his
position  or another  senior  executive  position  is then  vacant and (iii) the
Company requests in writing that he resume such position, he may elect to resume
such position by written  notice to the Company within 15 days after the Company
delivers  its request.  If he resumes  such  position,  he shall  thereafter  be
entitled  to his Base  Salary at the annual  rate in effect on the  Commencement
Date and,  for the year he resumes his  position,  a pro rata  annual  incentive
award.  If he ceases to be disabled  during the Term of Employment  and does not
resume his  position in  accordance  with the  preceding  sentence,  he shall be
treated as if he voluntarily terminated his employment pursuant to Section 10(d)
as of the date Executive ceases to be disabled.  If Executive is not offered his
position or another  senior  executive  position  after he ceases to be disabled
during the Term of  Employment,  he shall be treated  as if his  employment  was
terminated  Without  Cause  pursuant to Section  10(c) as of the date  Executive
ceases to be disabled.

                  (b) Executive shall be entitled to a pro rata annual incentive
award for the year in which the  Commencement  Date occurs  based on 50% of Base
Salary paid to him during such year prior to the Commencement Date, payable in a
lump sum not later than 15 days after the Commencement Date. Executive shall not
be entitled to any annual  incentive award with respect to the period  following
the Commencement Date. If Executive  recommences his position in accordance with
Section 8(a), he shall be entitled to a pro rata annual  incentive award for the
year he  resumes  such  position  and shall  thereafter  be  entitled  to annual
incentive awards in accordance with Section 5 hereof.

                  (c)  Executive  shall  be  entitled  to a pro rata  long  term
incentive  award for the period  through the  Commencement  Date based on target
performance, payable in a lump sum not later than 15 days after the Commencement
Date.  Executive  shall not be  entitled to any long term  incentive  award with
respect to the period following the Commencement Date. If Executive  recommences
his position in accordance with Section 8(a), he shall be entitled to a pro rata
long term  incentive  award for the period in which he resumes such position and
shall  thereafter be entitled to long term incentive  awards in accordance  with
Section 6 hereof.

                   (d) During  the  period  Executive  is  receiving  disability
benefits  pursuant to Section 8(a) above,  he shall continue to be treated as an
employee for purposes of all employee  benefits and entitlements in which he was
participating  on the  Commencement  Date,  including  without  limitation,  the
benefits  and  entitlements  referred to in Sections 6 and 7 above,  except that
Executive  shall not be entitled to receive any annual  salary  increases or any
new long-term incentive plan grants following the Commencement Date.

         9.       Reimbursement of Business and Other Expenses.

                  Executive  is  authorized  to  incur  reasonable  expenses  in
carrying  out his duties and  responsibilities  under  this  Agreement,  and the
Company shall promptly  reimburse him for all such business expenses incurred in
connection therewith,  subject to documentation in accordance with the Company's
policy.

         10.      Termination of Employment.

                  (a)  Termination  Due  to  Death.  In  the  event  Executive's
employment  with the Company is terminated  due to his death,  his estate or his
beneficiaries,  as the case may be, shall be entitled to and their sole remedies
under this Agreement shall be:

                           (i)      Base Salary through the date of death, which
                                    shall be paid in a single lump sum not later
                                    than 15 days following Executive's death;

                           (ii)     pro rata annual incentive award for the year
                                    in which  Executive's  death occurs assuming
                                    that Executive  would have received an award
                                    equal to 40% of Base  Salary  for such year,
                                    which   shall  be  payable  in  a  lump  sum
                                    promptly  (but  in no  event  later  than 15
                                    days) after his death;

                           (iii)    elimination  of  all   restrictions  on  any
                                    restricted  stock or deferred  stock  awards
                                    outstanding at the time of his death;

                           (iv)     immediate  vesting of all outstanding  stock
                                    options and the right to exercise such stock
                                    options  for a period of one year  following
                                    death  (or  such  longer  period  as  may be
                                    provided in stock  options  granted to other
                                    similarly situated executive officers of the
                                    Company)  or  for  the   remainder   of  the
                                    exercise period, if less;

                           (v)      immediate   vesting   of   all   outstanding
                                    long-term  incentive  awards  and a pro rata
                                    payment  of  such  awards  based  on  Target
                                    Performance,  payable  in a lump sum in cash
                                    or stock  promptly  (but in no  event  later
                                    than  15  days)  after  his  death.  "Target
                                    Performance"  for purposes of this Agreement
                                    shall  mean (i) the actual  performance  for
                                    each  completed  year under each  applicable
                                    award,  plus (ii) the  "target"  performance
                                    for  the  then   current   year  under  each
                                    applicable award;

                           (vi)     the balance of any  incentive  awards earned
                                    as of December 31 of the prior year (but not
                                    yet paid),  which  shall be paid in a single
                                    lump sum not  later  than 15 days  following
                                    Executive's death;

                           (vii)    settlement  of  all  deferred   compensation
                                    arrangements in accordance with  Executive's
                                    duly executed Deferral Election Forms; and

                           (viii)   other  or  additional  benefits  then due or
                                    earned in accordance with  applicable  plans
                                    and programs of the Company.

                  (b)      Termination by the Company for Cause.

                           (i)      "Cause" shall mean:

                                    (A)     Executive's   willful  and  material
                                            breach of  Sections  12, 13 or 14 of
                                            this Agreement;

                                    (B)     Executive  is  convicted of a felony
                                            involving moral turpitude; or

                                    (C)     Executive  engages in  conduct  that
                                            constitutes willful gross neglect or
                                            willful gross misconduct in carrying
                                            out his duties under this Agreement,
                                            resulting,   in  either   case,   in
                                            material   harm  to  the   financial
                                            condition  or   reputation   of  the
                                            Company.

For purposes of this  Agreement,  an act or failure to act on  Executive's  part
shall be considered "willful" if it was done or omitted to be done by him not in
good faith,  and shall not include any act or failure to act resulting  from any
incapacity of Executive.

<PAGE>

                           (ii)     A  termination  for  Cause  shall  not  take
                                    effect   unless  the   provisions   of  this
                                    paragraph (ii) are complied with.  Executive
                                    shall be given written notice by the Company
                                    of its intention to terminate him for Cause,
                                    such  notice  (A) to  state  in  detail  the
                                    particular   act  or  acts  or   failure  or
                                    failures to act that  constitute the grounds
                                    on which the proposed  termination for Cause
                                    is based and (B) to be given  within 90 days
                                    of the  Company's  learning  of such  act or
                                    acts  or   failure  or   failures   to  act.
                                    Executive  shall have 20 days after the date
                                    that such  written  notice has been given to
                                    him in which to cure  such  conduct,  to the
                                    extent such cure is possible. If he fails to
                                    cure such conduct,  Executive  shall then be
                                    entitled to a hearing  before the  Committee
                                    of the Board at which  Executive is entitled
                                    to appear. Such hearing shall be held within
                                    25  days  of  such   notice  to   Executive,
                                    provided he requests such hearing  within 10
                                    days of the written  notice from the Company
                                    of the intention to terminate him for Cause.
                                    If, within five days following such hearing,
                                    Executive is furnished written notice by the
                                    Board  confirming  that,  in  its  judgment,
                                    grounds  for  Cause  on  the  basis  of  the
                                    original notice exist, he shall thereupon be
                                    terminated for Cause.

                           (iii)    In  the   event   the   Company   terminates
                                    Executive's  employment for Cause,  he shall
                                    be entitled to and his sole  remedies  under
                                    this Agreement shall be:

                                    (A)     Base Salary  through the date of the
                                            termination  of his  employment  for
                                            Cause,  which  shall  be  paid  in a
                                            single  lump sum not  later  than 15
                                            days      following      Executive's
                                            termination of employment;

                                    (B)     any  incentive  awards  earned as of
                                            December  31 of the prior  year (but
                                            not yet paid),  which  shall be paid
                                            in a single  lump sum not later than
                                            15   days   following    Executive's
                                            termination of employment;

                                    (C)     settlement     of    all    deferred
                                            compensation     arrangements     in
                                            accordance  with   Executive's  duly
                                            executed  Deferral  Election  Forms;
                                            and

                                    (D)     other or  additional  benefits  then
                                            due or  earned  in  accordance  with
                                            applicable  plans or programs of the
                                            Company.

                  (c)  Termination  Without  Cause or  Constructive  Termination
Without Cause Prior to a Change in Control. In the event Executive's  employment
with the  Company  is  terminated  without  Cause  (which  termination  shall be
effective  as of the date  specified  by the  Company  in a  written  notice  to
Executive),  other than due to death,  or in the event  there is a  Constructive
Termination  Without Cause (as defined below),  in either case prior to a Change
in Control  (as  defined  below)  Executive  shall be  entitled  to and his sole
remedies under this Agreement shall be:

                           (i)      Base Salary  through the date of termination
                                    of  Executive's  employment,  which shall be
                                    paid in a single  lump sum not later than 15
                                    days  following  Executive's  termination of
                                    employment;

                           (ii)     Base  Salary,  at  the  annualized  rate  in
                                    effect  on  the  date  of   termination   of
                                    Executive's  employment  (or in the  event a
                                    reduction  in Base  Salary  is a basis for a
                                    Constructive Termination Without Cause, then
                                    the Base Salary in effect  immediately prior
                                    to  such  reduction),  for  a  period  of 18
                                    months   following  such   termination  (the
                                    "Severance Period");

                           (iii)    pro rata annual incentive award for the year
                                    in which termination  occurs equal to 40% of
                                    Base Salary  (determined in accordance  with
                                    Section  10(c)(ii)  above)  for  such  year,
                                    payable  in a lump sum  promptly  (but in no
                                    event   later   than  15   days)   following
                                    termination;

                           (iv)     an  amount  equal  to  40%  of  Base  Salary
                                    (determined   in  accordance   with  Section
                                    10(c)(ii)  above),  payable in equal monthly
                                    payments over the Severance Period;

<PAGE>

                           (v)      the balance of any  incentive  awards earned
                                    as of December 31 of the prior year (but not
                                    yet paid),  which  shall be paid in a single
                                    lump sum not  later  than 15 days  following
                                    Executive's termination of employment;

                           (vi)     settlement  of  all  deferred   compensation
                                    arrangements in accordance with  Executive's
                                    duly  executed   Deferral   Election   Forms
                                    (unless   Executive   has   previously   and
                                    appropriately   elected  not  to  have  such
                                    settlement upon such a termination);

                           (vii)    continued   participation  in  all  medical,
                                    health and life insurance  plans at the same
                                    benefit level at which he was  participating
                                    on  the  date  of  the  termination  of  his
                                    employment until the earlier of:

                                    (A)     24 months; or

                                    (B)     the  date,  or  dates,  he  receives
                                            equivalent   coverage  and  benefits
                                            under the plans  and  programs  of a
                                            subsequent  employer  (such coverage
                                            and benefits to be  determined  on a
                                            coverage-by-coverage,             or
                                            benefit-by-benefit, basis); provided
                                            that (1) if  Executive  is precluded
                                            from continuing his participation in
                                            any employee benefit plan or program
                                            as provided in this clause  (vii) of
                                            this Section 10(c), he shall receive
                                            cash payments  equal on an after-tax
                                            basis   to  the   cost   to  him  of
                                            obtaining   the  benefits   provided
                                            under the plan or  program  in which
                                            he is unable to participate  for the
                                            period   specified  in  this  clause
                                            (vii)  of this  Section  10(c),  (2)
                                            such cost  shall be deemed to be the
                                            lowest reasonable cost that would be
                                            incurred by  Executive  in obtaining
                                            such    benefit    himself   on   an
                                            individual basis, and (3) payment of
                                            such amounts shall be made quarterly
                                            in advance;

                           (viii)   24 months  additional age and service credit
                                    for  purposes  of  determining   the  amount
                                    Executive's   accrued   benefits  under  any
                                    supplemental    retirement    benefit   plan
                                    ("SERP")  maintained  by  the  Company,  and
                                    immediate vesting of any such benefits; and

                           (ix)     other  or  additional  benefits  then due or
                                    earned in accordance with  applicable  plans
                                    and programs of the Company.

                  A  termination   without   "Cause"   shall  mean   Executive's
employment  is  terminated  by the Company  for any reason  other than Cause (as
defined in Section 10(b)) or due to death.

                  "Constructive   Termination   Without   Cause"  shall  mean  a
termination  of  Executive's  employment  at his  initiative as provided in this
Section 10(c) following the occurrence,  without Executive's written consent, of
one or more of the following events (except as a result of a prior termination):

                                    (A)     an   assignment  of  any  duties  to
                                            Executive  which  are   inconsistent
                                            with   his   status   as  a   senior
                                            executive of the Company;

                                    (B)     a decrease  in annual Base Salary or
                                            target   annual    incentive   award
                                            opportunity   below   40%  of   Base
                                            Salary;

<PAGE>

                                    (C)     any other  failure by the Company to
                                            perform  any   material   obligation
                                            under,  or breach by the  Company of
                                            any  material   provision  of,  this
                                            Agreement  that is not cured  within
                                            30 days; or

                                    (D)     any failure to secure the  agreement
                                            of  any  successor   corporation  or
                                            other entity to the Company to fully
                                            assume  the  Company's   obligations
                                            under this Agreement.

In addition,  following a Change in Control,  "Constructive  Termination Without
Cause" shall also mean a termination of Executive's employment at his initiative
as provided in this Section 10(c) following the occurrence,  without Executive's
written consent,  of a relocation of his principal place of employment outside a
35-mile  radius of his principal  place of  employment as in effect  immediately
prior to such Change in Control.

                  A "Change in Control" shall be deemed to have occurred if:

                           (i)      any  Person  (other  than the  Company,  any
                                    trustee   or   other    fiduciary    holding
                                    securities  under any employee  benefit plan
                                    of  the  Company,   or  any  company  owned,
                                    directly or indirectly,  by the stockholders
                                    of  the  Company  immediately  prior  to the
                                    occurrence   with   respect   to  which  the
                                    evaluation  is being  made in  substantially
                                    the same  proportions as their  ownership of
                                    the common stock of the Company) becomes the
                                    Beneficial Owner (except that a Person shall
                                    be deemed to be the Beneficial  Owner of all
                                    shares that any such Person has the right to
                                    acquire   pursuant  to  any   agreement   or
                                    arrangement  or upon  exercise of conversion
                                    rights,  warrants  or options or  otherwise,
                                    without  regard  to  the  sixty  day  period
                                    referred to in Rule 13d-3 under the Exchange
                                    Act), directly or indirectly,  of securities
                                    of the Company or any Significant Subsidiary
                                    (as defined below), representing 25% or more
                                    of  the   combined   voting   power  of  the
                                    Company's   or   such    subsidiary's   then
                                    outstanding securities;

<PAGE>

                           (ii)     during any period of two consecutive  years,
                                    individuals  who at the  beginning  of  such
                                    period  constitute  the  Board,  and any new
                                    director  (other than a director  designated
                                    by  a  person  who  has   entered   into  an
                                    agreement  with  the  Company  to  effect  a
                                    transaction  described in clause (i), (iii),
                                    or (iv) of this paragraph) whose election by
                                    the Board or nomination  for election by the
                                    Company's  stockholders  was  approved  by a
                                    vote of at least two-thirds of the directors
                                    then  still  in  office   who  either   were
                                    directors  at the  beginning of the two-year
                                    period or whose  election or nomination  for
                                    election  was  previously  so  approved  but
                                    excluding  for  this  purpose  any  such new
                                    director whose initial  assumption of office
                                    occurs  as a result  of  either an actual or
                                    threatened  election  contest (as such terms
                                    are used in Rule  14a-11 of  Regulation  14A
                                    promulgated under the Exchange Act) or other
                                    actual or threatened solicitation of proxies
                                    or   consents   by  or  on   behalf   of  an
                                    individual, corporation, partnership, group,
                                    associate  or other  entity or Person  other
                                    than the  Board,  cease  for any  reason  to
                                    constitute at least a majority of the Board;

                           (iii)    the    consummation    of   a   merger    or
                                    consolidation   of   the   Company   or  any
                                    subsidiary owning directly or indirectly all
                                    or  substantially  all of  the  consolidated
                                    assets  of  the   Company  (a   "Significant
                                    Subsidiary")  with any other  entity,  other
                                    than a merger or  consolidation  which would
                                    result  in  the  voting  securities  of  the
                                    Company   or   a   Significant    Subsidiary
                                    outstanding    immediately   prior   thereto
                                    continuing to represent (either by remaining
                                    outstanding  or  by  being   converted  into
                                    voting   securities   of  the  surviving  or
                                    resulting  entity)  more  than  50%  of  the
                                    combined  voting  power of the  surviving or
                                    resulting  entity  outstanding   immediately
                                    after such merger or consolidation;

                           (iv)     the  stockholders  of the Company  approve a
                                    plan   or   agreement   for   the   sale  or
                                    disposition of all or  substantially  all of
                                    the  consolidated   assets  of  the  Company
                                    (other  than  such  a  sale  or  disposition
                                    immediately  after which such assets will be
                                    owned   directly   or   indirectly   by  the
                                    stockholders of the Company in substantially
                                    the same  proportions as their  ownership of
                                    the common stock of the Company  immediately
                                    prior to such sale or  disposition) in which
                                    case the Board shall  reasonably and in good
                                    faith  determine the  effective  date of the
                                    Change in Control resulting therefrom; or

                           (v)      any  other  event  occurs  which  the  Board
                                    determines,   in   its   discretion,   would
                                    materially   alter  the   structure  of  the
                                    Company or its ownership.

         For purposes of this definition:

                                    (A)     The term  "Beneficial  Owner"  shall
                                            have the  meaning  ascribed  to such
                                            term  in  Rule   13d-3   under   the
                                            Exchange    Act    (including    any
                                            successor to such Rule).

                                    (B)     The term  "Exchange  Act"  means the
                                            Securities  Exchange Act of 1934, as
                                            amended  from  time to time,  or any
                                            successor act thereto.

                                    (C)     The  term  "Person"  shall  have the
                                            meaning  ascribed  to  such  term in
                                            Section  3(a)(9) of the Exchange Act
                                            and used in Sections 13(d) and 14(d)
                                            thereof,    including   "group"   as
                                            defined in Section 14(d) thereof.

<PAGE>

                  (d) Voluntary  Termination.  In the event of a termination  of
employment by Executive on his own initiative after delivery of 10 business days
advance  written  notice,  other than a termination due to death, a Constructive
Termination  Without  Cause,  or a Retirement  pursuant to Section  10(f) below,
Executive  shall have the same  entitlements  as provided in Section  10(b)(iii)
above for a termination  for Cause,  provided  that at the  Company's  election,
furnished  in writing  to  Executive  within 15 days  following  such  notice of
termination, the Company shall in addition pay Executive 140% of his Base Salary
for a period of 12 months  following such  termination in exchange for Executive
not engaging in  Competition  with the Company or any Subsidiary as set forth in
Section 13(a) below.  Notwithstanding any implication to the contrary, Executive
shall not have the right to terminate his employment with the Company during the
Term of Employment  except in the event of a  Constructive  Termination  Without
Cause or Retirement, and any voluntary termination of employment during the Term
of  Employment  in violation of this  Agreement  shall be  considered a material
breach;  provided  however,  if the Company  elects to pay Executive 140% of his
Base Salary in accordance  with this Section 10(d),  the Company shall waive any
and all claims it may have against  Executive  for any breach of this  Agreement
relating to his voluntary termination of employment unless Executive is found by
a court of competent  jurisdiction  not to be in  compliance  with Section 13(a)
below; provided further, however, that notwithstanding anything contained in the
foregoing to the  contrary,  it is not the intention of the Company to waive any
claims it may have against any third parties relating to a voluntary termination
by Executive in violation of this Agreement.

                  (e)  Termination  Without  Cause;   Constructive   Termination
Without  Cause or Voluntary  Termination  Following a Change in Control.  In the
event  Executive's  employment  with the  Company is  terminated  by the Company
without Cause (which  termination shall be effective as of the date specified by
the Company in a written  notice to Executive),  other than due to death,  or in
the event there is a Constructive  Termination Without Cause (as defined above),
in either  case  within  two years  following  a Change in Control  (as  defined
above),  Executive  shall  be  entitled  to and his  sole  remedies  under  this
Agreement shall be:

                           (i)      Base Salary  through the date of termination
                                    of  Executive's  employment,  which shall be
                                    paid in a single  lump sum not later than 15
                                    days  following  Executive's  termination of
                                    employment;

                           (ii)     an  amount  equal to two  times  Executive's
                                    Base  Salary,  at  the  annualized  rate  in
                                    effect  on  the  date  of   termination   of
                                    Executive's  employment  (or in the  event a
                                    reduction  in Base  Salary  is a basis for a
                                    Constructive Termination Without Cause, then
                                    the Base Salary in effect  immediately prior
                                    to such  reduction),  payable in a cash lump
                                    sum promptly  (but in no event later than 15
                                    days) following  Executive's  termination of
                                    employment;

                           (iii)    pro rata annual incentive award for the year
                                    in which  termination  occurs  assuming that
                                    Executive would have received an award equal
                                    to  40%  of  Base  Salary   (determined   in
                                    accordance with Section 10(e)(ii) above) for
                                    such  year,  payable  in  a  cash  lump  sum
                                    promptly  (but  in no  event  later  than 15
                                    days) following  Executive's  termination of
                                    employment;

                           (iv)     an amount  equal to 40% of such Base  Salary
                                    (determined   in  accordance   with  Section
                                    10(e)(ii) above)  multiplied by two, payable
                                    in a cash lump sum promptly (but in no event
                                    later  than 15 days)  following  Executive's
                                    termination of employment;

                           (v)      elimination  of  all   restrictions  on  any
                                    restricted  stock or deferred  stock  awards
                                    outstanding  at the time of  termination  of
                                    employment;

<PAGE>

                           (vi)     immediate  vesting of all outstanding  stock
                                    options  and the  right to  exercise  vested
                                    stock options granted prior to the Effective
                                    Date during the Severance  Period or for the
                                    remainder of the exercise  period,  if less;
                                    options  granted  after the  Effective  Date
                                    shall be  exercisable  for the  remainder of
                                    the exercise period;

                           (vii)    immediate   vesting   of   all   outstanding
                                    long-term  incentive  awards  and a pro rata
                                    payment  of  such  awards  based  on  Target
                                    Performance,  payable  in a lump sum in cash
                                    or stock  promptly  (but in no  event  later
                                    than   15   days)   following    Executive's
                                    termination of employment;

                           (viii)   the balance of any  incentive  awards earned
                                    as of December 31 of the prior year (but not
                                    yet paid),  which  shall be paid in a single
                                    lump sum not  later  than 15 days  following
                                    Executive's termination of employment;

                           (ix)     settlement  of  all  deferred   compensation
                                    arrangements in accordance with  Executive's
                                    duly  executed   Deferral   Election   Forms
                                    (unless   Executive   has   previously   and
                                    appropriately   elected  not  to  have  such
                                    settlement upon such a termination);

                           (x)      continued   participation  in  all  medical,
                                    health and life insurance  plans at the same
                                    benefit level at which he was  participating
                                    on the date of termination of his employment
                                    until the earlier of:

                                    (A)     the end of the Severance Period; or

                                    (B)     the  date,  or  dates,  he  receives
                                            equivalent   coverage  and  benefits
                                            under the plans  and  programs  of a
                                            subsequent  employer  (such coverage
                                            and benefits to be  determined  on a
                                            coverage-by-coverage,             or
                                            benefit-by-benefit, basis); provided
                                            that (1) if  Executive  is precluded
                                            from continuing his participation in
                                            any employee benefit plan or program
                                            as  provided  in this  clause (x) of
                                            this Section 10(e), he shall receive
                                            cash payments  equal on an after-tax
                                            basis   to  the   cost   to  him  of
                                            obtaining   the  benefits   provided
                                            under the plan or  program  in which
                                            he is unable to participate  for the
                                            period specified in this clause (ix)
                                            of this Section 10(e), (2) such cost
                                            shall  be  deemed  to be the  lowest
                                            reasonable   cost   that   would  be
                                            incurred by  Executive  in obtaining
                                            such    benefit    himself   on   an
                                            individual basis, and (3) payment of
                                            such amounts shall be made quarterly
                                            in advance;

                           (xi)     24 months  additional age and service credit
                                    for  purposes of  determining  the amount of
                                    Executive's  accrued benefits under any SERP
                                    maintained  by the  Company,  and  immediate
                                    vesting of any such benefits; and

                           (xii)    other  or  additional  benefits  then due or
                                    earned in accordance with  applicable  plans
                                    and programs of the Company.

For  purposes  of any  termination  pursuant  to this  Section  10(e),  the term
"Severance  Period" shall mean the period of 24 months following the termination
of Executive's employment.

<PAGE>

                  (f)  Retirement.   Upon  Executive's  Retirement  (as  defined
below),  Executive  shall  be  entitled  to and his  sole  remedies  under  this
Agreement shall be:

                           (i)      Base Salary  through the date of termination
                                    of  Executive's  employment,  which shall be
                                    paid in a single  lump sum not later than 15
                                    days  following  Executive's  termination of
                                    employment;

                           (ii)     pro rata annual incentive award for the year
                                    in  which  termination   occurs,   based  on
                                    performance  valuation  at the  end of  such
                                    year and payable in a cash lump sum promptly
                                    (but  in  no  event   later  than  15  days)
                                    thereafter;

                           (iii)    continued vesting (as if Executive  remained
                                    employed by the  Company) of any  restricted
                                    stock or deferred  stock awards  outstanding
                                    at   the   time   of  his   termination   of
                                    employment;

                           (iv)     continued vesting (as if Executive  remained
                                    employed by the Company) of all  outstanding
                                    stock  options  granted  after the Effective
                                    Date and the right to  exercise  such  stock
                                    options for the  remainder  of the  exercise
                                    period;   and   continued   vesting  of  all
                                    outstanding  options  granted  prior  to the
                                    Effective  Date and the  right  to  exercise
                                    such stock  options for a period of one year
                                    following  the later of the date the options
                                    are fully vested or Executive's  termination
                                    of employment  (or such longer period as may
                                    be  provided  in stock  options  granted  to
                                    other similarly  situated executive officers
                                    of the Company), or for the remainder of the
                                    exercise period, if less;

                           (v)      continued vesting (as if Executive  remained
                                    employed by the Company) of all  outstanding
                                    long-term  incentive  awards and  payment of
                                    such awards based on valuation at the end of
                                    the applicable performance periods,  payable
                                    in a lump  sum  in  cash  or  the  Company's
                                    common stock (with or without  restrictions)
                                    promptly  (but  in no  event  later  than 15
                                    days) thereafter;

                           (vi)     the balance of any  incentive  awards earned
                                    as of December 31 of the prior year (but not
                                    yet paid),  which  shall be paid in a single
                                    lump sum not  later  than 15 days  following
                                    Executive's termination of employment;

                           (vii)    settlement  of  all  deferred   compensation
                                    arrangements in accordance with  Executive's
                                    duly  executed   Deferral   Election   Forms
                                    (unless   Executive   has   previously   and
                                    appropriately   elected  not  to  have  such
                                    settlement at such time);

                           (viii)   continued   participation  in  all  medical,
                                    health and life insurance  plans at the same
                                    benefit level at which he was  participating
                                    on  the  date  of  the  termination  of  his
                                    employment until the earlier of:

                                    (A)     the  date   upon   which   Executive
                                            attains  65 years  of age,  provided
                                            that the Company shall bear the cost
                                            of such insurance until  Executive's
                                            60th   birthday   only;   thereafter
                                            Executive    shall   reimburse   the
                                            Company   for   the   cost  of  such
                                            insurance; or

<PAGE>

                                    (B)     the  date,  or  dates,  he  receives
                                            substantially   equivalent  coverage
                                            and  benefits  under  the  plans and
                                            programs  of a  subsequent  employer
                                            (such  coverage  and  benefits to be
                                            determined            on           a
                                            coverage-by-coverage,             or
                                            benefit-by-benefit, basis); provided
                                            that (1) if  Executive  is precluded
                                            from continuing his participation in
                                            any employee benefit plan or program
                                            as provided in this clause (viii) of
                                            this Section 10(f), he shall receive
                                            cash payments  equal on an after-tax
                                            basis   to  the   cost   to  him  of
                                            obtaining   the  benefits   provided
                                            under the plan or  program  in which
                                            he is unable to participate  for the
                                            period   specified  in  this  clause
                                            (viii) of this  Section  10(f),  (2)
                                            such cost  shall be deemed to be the
                                            lowest  cost that would be  incurred
                                            by  Executive   in  obtaining   such
                                            benefit  himself  on  an  individual
                                            basis,   and  (3)  payment  of  such
                                            amounts  shall be made  quarterly in
                                            advance; and

                           (ix)     other  or  additional  benefits  then due or
                                    earned in accordance with  applicable  plans
                                    and programs of the Company.

For purposes of this Agreement,  "Retirement"  shall mean Executive's  voluntary
termination  of  employment  with the  Company at the earlier of (i) at or after
attaining  age 55 and 15 years of service with the Company  (which shall include
all of  Executive's  years  of  service  with  Melville  Corporation),  and (ii)
attaining age 60.

                  (g) No Mitigation;  No Offset. In the event of any termination
of employment,  Executive shall be under no obligation to seek other employment;
amounts  due  Executive  under  this  Agreement  shall  not  be  offset  by  any
remuneration attributable to any subsequent employment that he may obtain.

                  (h) Nature of Payments.  Any amounts due under this Section 10
are in the nature of  severance  payments  considered  to be  reasonable  by the
Company and are not in the nature of a penalty.

                  (i) No Further Liability; Release. In the event of Executive's
termination  of  employment,  payment  made and  performance  by the  Company in
accordance with this Section 10 shall operate to fully discharge and release the
Company  and  its  directors,  officers,  employees,  subsidiaries,  affiliates,
stockholders,  successors,  assigns, agents and representatives from any further
obligation or liability with respect to Executive's rights under this Agreement.
Other than  payment and  performance  under this Section 10, the Company and its
directors,   officers,  employees,   subsidiaries,   affiliates,   stockholders,
successors, assigns, agents and representatives shall have no further obligation
or liability to Executive or any other person under this  Agreement in the event
of Executive's  termination  of employment.  The Company shall have the right to
condition the payment of any severance or other amounts pursuant to this Section
10 upon the  delivery  by  Executive  to the  Company  of a release  in the form
satisfactory  to the Company  releasing  any and all claims  Executive  may have
against  the  Company  and its  directors,  officers,  employees,  subsidiaries,
affiliates,  stockholders,   successors,  assigns,  agents  and  representatives
arising out of this Agreement.

         11.      Forfeiture Provisions.

                  (a)  Forfeiture  of Stock  Options and Other  Awards and Gains
Realized  Upon Prior Option  Exercises or Award  Settlements.  Unless  otherwise
determined by the Committee,  upon a termination  of Executive's  employment for
Cause,  Executive's  engaging in competition  with the Company or any Subsidiary
after a  voluntary  termination  of  employment  pursuant to Section  10(d),  or
Executive's  violation of any of the other  restrictive  covenants  contained in
Section 12, 13 or 14 (each a "Forfeiture  Event")  during the Term of Employment
and for 24 months thereafter, all of the following forfeitures will result:

                           (i)   The  unexercised  portion of any stock  option,
                                 whether or not vested,  and any other Award not
                                 then settled  (except for an Award that has not
                                 been settled solely due to an elective deferral
                                 by Executive and  otherwise is not  forfeitable
                                 in the event of any  termination of Executive's
                                 service)  will  be  immediately  forfeited  and
                                 canceled upon the  occurrence of the Forfeiture
                                 Event; and

                           (ii)  Executive  will be  obligated  to  repay to the
                                 Company,  in cash,  within five  business  days
                                 after  demand is made  therefor by the Company,
                                 the  total  amount  of Award  Gain (as  defined
                                 herein)   realized  by   Executive   upon  each
                                 exercise of a stock option or  settlement of an
                                 Award  (regardless  of any  elective  deferral)
                                 that occurred (A) during the period  commencing
                                 with the date  that is 24  months  prior to the
                                 occurrence of the Forfeiture Event and the date
                                 24 months after the  Forfeiture  Event,  if the
                                 Forfeiture  Event occurred while  Executive was
                                 employed  by the  Company  or a  Subsidiary  or
                                 affiliate,  or (B) during the period commencing
                                 24  months   prior  to  the  date   Executive's
                                 employment by the Company terminated and ending
                                 12 months (or, in the event that the Forfeiture
                                 Event is a breach of  Section  14,  24  months)
                                 after  the  date  of such  termination,  if the
                                 Forfeiture   Event  occurred  after   Executive
                                 ceased to be so employed.  For purposes of this
                                 Section,  the term "Award Gain" shall mean (i),
                                 in respect of a given  stock  option  exercise,
                                 the  product of (X) the Fair  Market  Value per
                                 share  of  common  stock  at the  date  of such
                                 exercise  (without  regard  to  any  subsequent
                                 change in the market price of shares) minus the
                                 exercise  price  times (Y) the number of shares
                                 as to which the stock  option was  exercised at
                                 that  date,  and (ii),  in respect of any other
                                 settlement  of an Award  granted to  Executive,
                                 the Fair Market Value of the cash or stock paid
                                 or  payable  to  Executive  (regardless  of any
                                 elective  deferral)  less  any cash or the Fair
                                 Market  Value of any stock or  property  (other
                                 than an Award or award  which would have itself
                                 then been  forfeitable  hereunder and excluding
                                 any  payment  of  tax   withholding)   paid  by
                                 Executive  to the Company as a condition  of or
                                 in connection with such settlement.

For purposes of this Agreement, "Award" shall mean any cash award, stock option,
stock  appreciation  right,  restricted  stock,  deferred  stock,  bonus  stock,
dividend equivalent,  or other stock-based or performance-based award or similar
award,  together  with any  related  right or  interest,  granted  to or held by
Executive (but excluding any annual cash incentive  award which is payable on an
annual  basis  and  is  determined  based  entirely  on  a  one-year  (or  less)
performance measurement period).

                    (b)  Committee   Discretion.   The  Committee  may,  in  its
discretion,  waive in whole or in part the Company's  right to forfeiture  under
this  Section,  but no such waiver  shall be  effective  unless  evidenced  by a
writing signed by a duly  authorized  officer of the Company.  In addition,  the
Committee  may  impose   additional   conditions  on  Awards,  by  inclusion  of
appropriate provisions in the document evidencing or governing any such Award.

         12.   Confidentiality:   Cooperation   with   Regard   to   Litigation;
Non-Disparagement; Return of Company Materials.

                  (a) During the Term of Employment  and  thereafter,  Executive
shall not, without the prior written consent of the Company,  disclose to anyone
(except in good faith in the ordinary course of business to a person who will be
advised by Executive to keep such  information  confidential) or make use of any
Confidential  Information  except in the performance of his duties  hereunder or
when  required to do so by legal  process,  by any  governmental  agency  having
supervisory  authority over the business of the Company or by any administrative
or  legislative  body  (including  a committee  thereof)  that  requires  him to
divulge,  disclose  or make  accessible  such  information.  In the  event  that
Executive is so ordered,  he shall give prompt  written notice to the Company in
order to allow the Company the opportunity to object to or otherwise resist such
order.

                  (b) During the Term of Employment  and  thereafter,  Executive
shall not disclose the  existence or contents of this  Agreement  beyond what is
disclosed in the proxy statement or documents  filed with the government  unless
and to the extent such disclosure is required by law, by a governmental  agency,
or in a document  required by law to be filed with a  governmental  agency or in
connection  with  enforcement of his rights under this  Agreement.  In the event
that  disclosure is so required,  Executive  shall give prompt written notice to
the  Company  in order to allow  the  Company  the  opportunity  to object to or
otherwise  resist such  requirement.  This  restriction  shall not apply to such
disclosure  by him to  members  of his  immediate  family,  his  tax,  legal  or
financial  advisors,  any lender,  or tax  authorities,  or to potential  future
employers to the extent necessary, each of whom shall be advised not to disclose
such information.

                  (c) "Confidential  Information" shall mean (i) all information
concerning the business of the Company or any Subsidiary  including  information
relating  to  any  of  their  products,  product  development,   trade  secrets,
customers,  suppliers,  finances,  and business plans and  strategies,  and (ii)
information regarding the organization  structure and the names, titles, status,
compensation,  benefits and other proprietary  employment-related aspects of the
employees of the Company and the Company's employment  practices.  Excluded from
the definition of Confidential Information is information (A) that is or becomes
part of the public  domain,  other than through the breach of this  Agreement by
Executive or (B) regarding the Company's  business or industry properly acquired
by  Executive  in the  course of his  career as an  executive  in the  Company's
industry and  independent  of  Executive's  employment by the Company.  For this
purpose,  information known or available  generally within the trade or industry
of the Company or any Subsidiary shall be deemed to be known or available to the
public.

                  (d)  "Subsidiary"   shall  mean  any  corporation   controlled
directly or indirectly by the Company.

                  (e) Executive agrees to cooperate with the Company, during the
Term of Employment and thereafter (including following  Executive's  termination
of employment for any reason), by making himself reasonably available to testify
on behalf of the Company or any  Subsidiary in any action,  suit, or proceeding,
whether civil,  criminal,  administrative,  or investigative,  and to assist the
Company,  or any  Subsidiary,  in any  such  action,  suit,  or  proceeding,  by
providing  information  and  meeting  and  consulting  with  the  Board  or  its
representatives or counsel, or representatives or counsel to the Company, or any
Subsidiary as  requested;  provided,  however that the same does not  materially
interfere with his then current professional  activities.  The Company agrees to
reimburse  Executive,  on an after-tax basis, for all expenses actually incurred
in connection with his provision of testimony or assistance.

                  (f) Executive  agrees that,  during the Term of Employment and
thereafter  (including following  Executive's  termination of employment for any
reason)  he  will  not  make   statements  or   representations,   or  otherwise
communicate,  directly or indirectly,  in writing, orally, or otherwise, or take
any action  which may,  directly  or  indirectly,  disparage  the Company or any
Subsidiary  or  their  respective  officers,  directors,   employees,  advisors,
businesses  or  reputations.  The  Company  agrees  that,  during  the  Term  of
Employment  and  thereafter  (including  following  Executive's  termination  of
employment   for  any  reason)  the  Company   will  not  make   statements   or
representations,  or otherwise communicate,  directly or indirectly, in writing,
orally,  or  otherwise,  or take any action  which may  directly or  indirectly,
disparage   Executive  or  his  business  or  reputation.   Notwithstanding  the
foregoing,  nothing in this  Agreement  shall preclude  either  Executive or the
Company from making  truthful  statements  or  disclosures  that are required by
applicable law, regulation, or legal process.

                  (g) Upon any  termination of employment,  Executive  agrees to
deliver any Company property and any documents, notes, drawings, specifications,
computer  software,  data and other  materials of any nature  pertaining  to any
Confidential Information that are held by Executive and will not take any of the
foregoing, or any reproduction of any of the foregoing,  that is embodied an any
tangible  medium of expression,  provided that the foregoing  shall not prohibit
Executive from retaining his personal phone directories and rolodexes.

         13.      Non-competition.

                  (a) During the Restriction Period (as defined in Section 13(b)
below),  Executive  shall not  engage in  Competition  with the  Company  or any
Subsidiary.  "Competition"  shall  mean  engaging  in any  activity,  except  as
provided below, for a Competitor of the Company or any Subsidiary, whether as an
employee, consultant,  principal, agent, officer, director, partner, shareholder
(except as a less than one percent  shareholder of a publicly traded company) or
otherwise.  A "Competitor"  shall mean (i) Bed Bath & Beyond,  Inc.,  Home Place
Inc., J.C. Penney,  Federated Department Stores, Mays, Target, Sears, Home Depot
and K-Mart (and any successor or successors thereto);  (ii) any home textiles or
housewares store, specialty store or other retailer if either $25 million or 40%
or more of its annual gross sales  revenues  (in either case,  based on the most
recent quarterly or annual financial statements  available) are derived from the
sale of home  textiles,  housewares or other goods or  merchandise  of the types
sold in the Company's (or any  Subsidiary's)  stores;  (iii) any  corporation or
other entity  whether  independent  or owned,  funded or controlled by any other
entity,  engaged or organized for the purpose of engaging,  in whole or in part,
in the sale of home  textiles,  housewares or other goods or  merchandise of the
types sold in the Company's (or any Subsidiary's) stores; (iv) any business that
provides buying office services to any business or group of businesses  referred
to above,  or (v) any  business (in the U.S. or any country in which the Company
or any Subsidiary  operates a store or stores) which is in material  competition
with the Company or any Subsidiary or division thereof and in which  Executive's
functions  would be  substantially  similar to  Executive's  functions  with the
Company. If Executive commences  employment or becomes a consultant,  principal,
agent,  officer,  director,  partner, or shareholder of any entity that is not a
Competitor  at the time  Executive  initially  becomes  employed  or  becomes  a
consultant,  principal, agent, officer, director, partner, or shareholder of the
entity, future activities of such entity shall not result in a violation of this
provision unless (x) such activities were  contemplated by Executive at the time
Executive initially became employed or becomes a consultant,  principal,  agent,
officer,  director,  partner,  or  shareholder  of the  entity or (y)  Executive
commences  directly  or  indirectly  to  advise,  plan,  oversee  or manage  the
activities  of an entity  which  becomes a  Competitor  during  the  Restriction
Period,  that activities are  competitive  with the activities of the Company or
any Subsidiary.

                  (b) For the purposes of this Section 13, "Restriction  Period"
shall mean the period beginning with the Effective Date and ending with:

                           (i)      in the case of a termination  of Executive's
                                    employment  without Cause or a  Constructive
                                    Termination  Without Cause,  the Restriction
                                    Period  shall  terminate   immediately  upon
                                    Executive's termination of employment;

                           (ii)     in the case of a termination  of Executive's
                                    employment  for  Cause,  24 months  from the
                                    date of such termination;

                           (iii)    in the case of a  voluntary  termination  of
                                    Executive's  employment  pursuant to Section
                                    10(d)  above   followed  by  the   Company's
                                    election to pay  Executive  (and  subject to
                                    the payment of) 140% of his Base Salary,  as
                                    provided in Section  10(d) above,  the first
                                    anniversary of such termination;

                           (iv)     in the case of a  voluntary  termination  of
                                    Executive's  employment  pursuant to Section
                                    10(d)  above  which is not  followed  by the
                                    Company's  election  to pay  Executive  such
                                    140%  of  Base  Salary,  the  date  of  such
                                    termination; or

                           (v)      in the  case  of a  Retirement  pursuant  to
                                    Section  10(f) above,  the  remainder of the
                                    Term of Employment.

         14.      Non-solicitation of Employees.

                  During the period beginning with the Effective Date and ending
24 months following the termination or other cessation of Executive's employment
for any  reason,  Executive  shall not induce  employees  of the  Company or any
Subsidiary to terminate their employment;  provided, however, that the foregoing
shall not be construed to prevent Executive from engaging in generic nontargeted
advertising  for employees  generally.  During such period,  Executive shall not
hire,  either  directly or through any employee,  agent or  representative,  any
employee of the Company or any  Subsidiary or any person who was employed by the
Company or any Subsidiary within 180 days of such hiring.

         15.      Remedies.

                  In addition to whatever  other rights and remedies the Company
may have at  equity  or in law,  if  Executive  breaches  any of the  provisions
contained in Sections 12, 13 or 14 above,  the Company (a) shall have its rights
under  Section 11 of this  Agreement,  (b) shall  have the right to  immediately
terminate all payments and benefits due under this  Agreement and (c) shall have
the right to seek injunctive relief.  Executive  acknowledges that such a breach
of Sections 12, 13 or 14 would cause  irreparable  injury and that money damages
would not provide an adequate  remedy for the Company;  provided,  however,  the
foregoing  shall not prevent  Executive from contesting the issuance of any such
injunction on the ground that no violation or  threatened  violation of Sections
12, 13 or 14 has occurred.

         16.      Resolution of Disputes.

                  Any  controversy  or claim  arising out of or relating to this
Agreement or any breach or asserted  breach hereof or  questioning  the validity
and binding  effect hereof arising under or in connection  with this  Agreement,
other than  seeking  injunctive  relief  under  Section 15, shall be resolved by
binding arbitration,  to be held at an office closest to the Company's principal
offices in accordance with the rules and procedures of the American  Arbitration
Association,  except that disputes  arising under or in connection with Sections
12, 13 and 14 above shall be  submitted  to the  federal or state  courts in the
State of New Jersey.  Judgment upon the award rendered by the  arbitrator(s) may
be entered in any court having jurisdiction  thereof.  Pending the resolution of
any arbitration or court  proceeding,  the Company shall continue payment of all
amounts and benefits due Executive  under this Agreement.  All reasonable  costs
and expenses (including fees and disbursements of counsel) incurred by Executive
pursuant  to this  Section  16  shall  be paid on  behalf  of or  reimbursed  to
Executive  promptly by the  Company;  provided,  however,  that in the event the
arbitrator(s)  determine(s)  that any of  Executive's  litigation  assertions or
defenses are determined to be in bad faith or frivolous,  no such reimbursements
shall be due Executive, and any such expenses already paid to Executive shall be
immediately returned by Executive to the Company.

         17.      Indemnification.

                   (a) Company  Indemnity.  The Company agrees that if Executive
is made a party,  or is  threatened to be made a party,  to any action,  suit or
proceeding,   whether  civil,  criminal,   administrative  or  investigative  (a
"Proceeding"),  by reason of the fact that he is or was a  director,  officer or
employee of the Company or any Subsidiary or is or was serving at the request of
the Company or any Subsidiary as a director,  officer, member, employee or agent
of another corporation,  partnership,  joint venture, trust or other enterprise,
including  service with respect to employee  benefit  plans,  whether or not the
basis of such Proceeding is Executive's  alleged action in an official  capacity
while serving as a director, officer, member, employee or agent, Executive shall
be  indemnified  and held harmless by the Company to the fullest  extent legally
permitted or authorized by the Company's  certificate of incorporation or bylaws
or resolutions of the Company's  Board or, if greater,  by the laws of the State
of Delaware against all cost,  expense,  liability and loss (including,  without
limitation,  attorney's fees, judgments,  fines, ERISA excise taxes or penalties
and amounts paid or to be paid in settlement) reasonably incurred or suffered by
Executive in connection therewith, and such indemnification shall continue as to
Executive even if he has ceased to be a director,  member, officer,  employee or
agent  of the  Company  or other  entity  and  shall  inure  to the  benefit  of
Executive's heirs,  executors and  administrators.  The Company shall advance to
Executive all reasonable  costs and expenses to be incurred by him in connection
with a  Proceeding  within 20 days  after  receipt  by the  Company of a written
request for such advance. Such request shall include an undertaking by Executive
to repay the amount of such advance if it shall ultimately be determined that he
is  not  entitled  to be  indemnified  against  such  costs  and  expenses.  The
provisions  of this  Section  17(a) shall not be deemed  exclusive  of any other
rights of  indemnification  to which  Executive  may be entitled or which may be
granted to him, and it shall be in addition to any rights of  indemnification to
which he may be entitled under any policy of insurance.

                  (b) No Presumption Regarding Standard of Conduct.  Neither the
failure of the  Company  (including  its  Board,  independent  legal  counsel or
stockholders)  to have made a  determination  prior to the  commencement  of any
proceeding  concerning  payment of amounts  claimed by Executive  under  Section
17(a) above that  indemnification  of Executive is proper because he has met the
applicable  standard of conduct,  nor a determination by the Company  (including
its Board, independent legal counsel or stockholders) that Executive has not met
such applicable  standard of conduct,  shall create a presumption that Executive
has not met the applicable standard of conduct.

                  (c) Liability  Insurance.  The Company  agrees to continue and
maintain a directors and officers' liability insurance policy covering Executive
to the  extent  the  Company  provides  such  coverage  for its other  executive
officers.

         18.      Excise Tax Gross-Up.

                  If Executive  becomes entitled to one or more payments (with a
"payment"  including,  without  limitation,  the  vesting  of an option or other
non-cash  benefit or property),  whether pursuant to the terms of this Agreement
or any other plan, arrangement,  or agreement with the Company or any affiliated
company (the "Total  Payments"),  which are or become subject to the tax imposed
by Section  4999 of the Internal  Revenue Code of 1986,  as amended (the "Code")
(or any similar tax that may  hereafter  be imposed)  (the  "Excise  Tax"),  the
Company shall pay to Executive at the time specified below an additional  amount
(the "Gross-up Payment") (which shall include, without limitation, reimbursement
for any  penalties  and interest  that may accrue in respect of such Excise Tax)
such that the net amount  retained by Executive,  after reduction for any Excise
Tax (including any penalties or interest  thereon) on the Total Payments and any
federal, state and local income or employment tax and Excise Tax on the Gross-up
Payment  provided for by this Section 18, but before  reduction for any federal,
state, or local income or employment tax on the Total  Payments,  shall be equal
to the sum of (a) the Total Payments,  and (b) an amount equal to the product of
any  deductions  disallowed  for  federal,  state,  or local income tax purposes
because of the inclusion of the Gross-up  Payment in Executive's  adjusted gross
income multiplied by the highest applicable marginal rate of federal,  state, or
local income taxation, respectively, for the calendar year in which the Gross-up
Payment is to be made.  For  purposes  of  determining  whether any of the Total
Payments will be subject to the Excise Tax and the amount of such Excise Tax:

                  (i)      The Total  Payments  shall be treated  as  "parachute
                           payments" within the meaning of Section 280G(b)(2) of
                           the Code, and all "excess parachute  payments" within
                           the meaning of Section  280G(b)(1)  of the Code shall
                           be treated as subject to the Excise Tax, unless,  and
                           except to the extent that, in the written  opinion of
                           independent  compensation  consultants,   counsel  or
                           auditors   of    nationally    recognized    standing
                           ("Independent  Advisors") selected by the Company and
                           reasonably   acceptable  to   Executive,   the  Total
                           Payments  (in  whole or in  part)  do not  constitute
                           parachute payments, or such excess parachute payments
                           (in   whole   or  in   part)   represent   reasonable
                           compensation  for services  actually  rendered within
                           the  meaning  of  Section  280G(b)(4)  of the Code in
                           excess  of the base  amount  within  the  meaning  of
                           Section  280G(b)(3)  of the Code or are otherwise not
                           subject to the Excise Tax;

                  (ii)     The  amount  of the  Total  Payments  which  shall be
                           treated  as  subject to the Excise Tax shall be equal
                           to the  lesser of (A) the  total  amount of the Total
                           Payments or (B) the total amount of excess  parachute
                           payments within the meaning of Section  280G(b)(1) of
                           the Code (after applying clause (i) above); and

                  (iii)    The value of any  non-cash  benefits or any  deferred
                           payment  or  benefit   shall  be  determined  by  the
                           Independent   Advisors   in   accordance   with   the
                           principles  of  Sections  280G(d)(3)  and  (4) of the
                           Code.

<PAGE>

                  For  purposes  of  determining  the  amount  of  the  Gross-up
Payment,  Executive  shall be  deemed  (A) to pay  federal  income  taxes at the
highest  marginal rate of federal income taxation for the calendar year in which
the Gross-up  Payment is to be made; (B) to pay any  applicable  state and local
income taxes at the highest  marginal  rate of taxation for the calendar year in
which the  Gross-up  Payment  is to be made,  net of the  maximum  reduction  in
federal  income taxes which could be obtained  from  deduction of such state and
local taxes if paid in such year  (determined  without  regard to limitations on
deductions based upon the amount of Executive's  adjusted gross income); and (C)
to have otherwise allowable deductions for federal,  state, and local income tax
purposes  at least equal to those  disallowed  because of the  inclusion  of the
Gross-up  Payment in Executive's  adjusted  gross income.  In the event that the
Excise Tax is  subsequently  determined  to be less than the  amount  taken into
account  hereunder at the time the  Gross-up  Payment is made,  Executive  shall
repay to the Company at the time that the amount of such reduction in Excise Tax
is finally  determined (but, if previously paid to the taxing  authorities,  not
prior to the time the amount of such  reduction  is  refunded  to  Executive  or
otherwise  realized  as a benefit by  Executive)  the  portion  of the  Gross-up
Payment  that would not have been paid if such  Excise  Tax had been  applied in
initially  calculating the Gross-up Payment, plus interest on the amount of such
repayment  at the rate  provided in Section  1274(b)(2)(B)  of the Code.  In the
event that the Excise Tax is  determined to exceed the amount taken into account
hereunder at the time the Gross-up  Payment is made  (including by reason of any
payment the existence or amount of which cannot be determined at the time of the
Gross-up  Payment),  the Company  shall make an additional  Gross-up  Payment in
respect of such excess (plus any interest and penalties  payable with respect to
such excess) at the time that the amount of such excess is finally determined.

                  The Gross-up  Payment  provided for above shall be paid on the
30th day (or such  earlier date as the Excise Tax becomes due and payable to the
taxing authorities) after it has been determined that the Total Payments (or any
portion thereof) are subject to the Excise Tax; provided,  however,  that if the
amount of such Gross-up Payment or portion thereof cannot be finally  determined
on or before  such  day,  the  Company  shall  pay to  Executive  on such day an
estimate,  as determined by the Independent  Advisors,  of the minimum amount of
such  payments  and shall pay the  remainder  of such  payments  (together  with
interest at the rate provided in Section  1274(b)(2)(B) of the Code), as soon as
the  amount  thereof  can be  determined.  In the event  that the  amount of the
estimated payments exceeds the amount subsequently  determined to have been due,
such excess shall constitute a loan by the Company to Executive,  payable on the
fifth day after  demand  by the  Company  (together  with  interest  at the rate
provided  in  Section  1274(b)(2)(B)  of the  Code).  If more than one  Gross-up
Payment is made, the amount of each Gross-up Payment shall be computed so as not
to duplicate  any prior  Gross-up  Payment.  The Company shall have the right to
control all  proceedings  with the  Internal  Revenue  Service that may arise in
connection with the  determination  and assessment of any Excise Tax and, at its
sole  option,  the  Company  may  pursue  or forego  any and all  administrative
appeals,  proceedings,  hearings,  and conferences  with any taxing authority in
respect of such  Excise Tax  (including  any  interest  or  penalties  thereon);
provided, however, that the Company's control over any such proceedings shall be
limited to issues  with  respect to which a  Gross-up  Payment  would be payable
hereunder,  and Executive shall be entitled to settle or contest any other issue
raised by the Internal Revenue Service or any other taxing authority.  Executive
shall   cooperate  with  the  Company  in  any   proceedings   relating  to  the
determination  and  assessment of any Excise Tax and shall not take any position
or action that would  materially  increase  the amount of any  Gross-up  Payment
hereunder.

         19.      Effect of Agreement on Other Benefits.

                  Except  as  specifically  provided  in  this  Agreement,   the
existence of this Agreement  shall not be  interpreted to preclude,  prohibit or
restrict Executive's  participation in any other employee benefit or other plans
or programs in which he currently participates.

         20.      Assignability: Binding Nature.

                  This Agreement  shall be binding upon and inure to the benefit
of the Parties and their respective successors, heirs (in the case of Executive)
and  permitted  assigns.  No rights or  obligations  of the  Company  under this
Agreement may be assigned or  transferred by the Company except that such rights
or obligations  may be assigned or  transferred  in connection  with the sale or
transfer of all or substantially all of the assets of the Company, provided that
the assignee or transferee is the successor to all or  substantially  all of the
assets of the Company and such assignee or transferee  assumes the  liabilities,
obligations and duties of the Company,  as contained in this  Agreement,  either
contractually  or as a matter of law. The Company  further  agrees that,  in the
event of a sale or transfer of assets as described in the preceding sentence, it
shall take  whatever  action it legally  can in order to cause such  assignee or
transferee to expressly  assume the  liabilities,  obligations and duties of the
Company  hereunder.  No rights or obligations of Executive  under this Agreement
may  be  assigned  or  transferred  by  Executive   other  than  his  rights  to
compensation and benefits, which may be transferred only by will or operation of
law, except as provided in Section 26 below.

         21.      Representation.

                  The  Company   represents   and  warrants  that  it  is  fully
authorized and empowered to enter into this  Agreement and that the  performance
of its obligations  under this Agreement will not violate any agreement  between
it and any other person, firm or organization.

         22.      Entire Agreement.

                  This Agreement contains the entire understanding and agreement
between  the  Parties  concerning  the  subject  matter  hereof  and,  as of the
Effective Date,  supersedes all prior agreements,  understandings,  discussions,
negotiations and undertakings, whether written or oral, between the Parties with
respect  thereto,  including,  without  limitation  any prior  change in control
agreement between the Parties,  except for certain rights regarding  Executive's
stock  options  granted  after  October  1996  and  prior  to the  date  of this
Agreement,  which shall be governed by the terms of Executive's  1996 employment
agreement  as if such  1996  employment  agreement  remained  in full  force and
effect.

         23.      Amendment or Waiver.

                  No  provision  in this  Agreement  may be amended  unless such
amendment  is agreed to in writing  and signed by  Executive  and an  authorized
officer of the  Company.  Except as set forth  herein,  no delay or  omission to
exercise any right,  power or remedy accruing to any Party shall impair any such
right,  power  or  remedy  or  shall  be  construed  to  be a  waiver  of  or an
acquiescence  to any breach  hereof.  No waiver by either Party of any breach by
the other Party of any condition or provision  contained in this Agreement to be
performed  by such  other  Party  shall  be  deemed  a waiver  of a  similar  or
dissimilar  condition or provision at the same or any prior or subsequent  time.
Any waiver must be in writing and signed by Executive or an  authorized  officer
of the Company, as the case may be.

         24.      Severability.

                  In the event that any  provision or portion of this  Agreement
shall be determined to be invalid or unenforceable  for any reason,  in whole or
in part, the remaining  provisions of this Agreement shall be unaffected thereby
and shall  remain in full force and effect to the fullest  extent  permitted  by
law.

         25.      Survivorship.

                  The respective rights and obligations of the Parties hereunder
shall survive any termination of Executive's  employment to the extent necessary
to the intended preservation of such rights and obligations.

         26.      Beneficiaries/References.

                  Executive shall be entitled, to the extent permitted under any
applicable law, to select and change a beneficiary or  beneficiaries  to receive
any compensation or benefit payable  hereunder  following  Executive's  death by
giving the Company written notice thereof.  In the event of Executive's death or
a judicial  determination  of his  incompetence,  reference in this Agreement to
Executive  shall be  deemed,  where  appropriate,  to refer to his  beneficiary,
estate or other legal representative.

         27.      Governing Law/Jurisdiction.

                  This  Agreement   shall  be  governed  by  and  construed  and
interpreted  in  accordance  with the laws of New Jersey  without  reference  to
principles of conflict of laws. Subject to Section 16, the Company and Executive
hereby  consent to the  jurisdiction  of any or all of the following  courts for
purposes of resolving  any dispute under this  Agreement:  (i) the United States
District  Court  for New  Jersey  or (ii) any of the  courts of the State of New
Jersey.  The Company and Executive  further agree that any service of process or
notice  requirements in any such  proceeding  shall be satisfied if the rules of
such court relating thereto have been substantially  satisfied.  The Company and
Executive  hereby waive, to the fullest extent  permitted by applicable law, any
objection which it or he may now or hereafter have to such  jurisdiction and any
defense of inconvenient forum.

         28.      Notices.

                  Any notice  given to a Party  shall be in writing and shall be
deemed to have been given when  delivered  personally  or sent by  certified  or
registered mail, postage prepaid,  return receipt  requested,  duly addressed to
the Party concerned at the address indicated below or to such changed address as
such Party may subsequently give such notice of:

                  If to the Company:        Linens 'n Things, Inc.
                                            6 Brighton Road
                                            Clifton, New Jersey 07015-5108
                                            Attention: Secretary

                  If to Executive:          Mr. Brian Silva
                                            1360 Clifton Avenue
                                            Clifton, New Jersey 07012

         29.      Headings.

                  The headings of the sections  contained in this  Agreement are
for convenience only and shall not be deemed to control or affect the meaning or
construction of any provision of this Agreement.

         30.      Counterparts.

                  This Agreement may be executed in two or more counterparts.

         IN WITNESS WHEREOF,  the undersigned have executed this Agreement as of
the date first written above.

                                            LINENS 'N THINGS, INC.

                                            By:_______________________________
                                            Name:
                                            Title:

                                            EXECUTIVE

                                            __________________________________
                                            Brian Silva

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