Document:

Filed by Bowne Pure Compliance

Exhibit 10.1

FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT

THIS FOURTH AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”), dated this 9th
day of September, 2008, by and between ROBERT N. WILDRICK (“Executive”) and JOS. A. BANK CLOTHIERS,
INC. (“Employer” or “Company”),

WITNESSETH THAT:

WHEREAS, Executive and Employer are the sole parties to that certain Employment Agreement
dated as of November 1, l999, as amended by that certain First Amendment to Employment Agreement,
dated March 6, 2000, that certain Second Amendment to Employment Agreement, dated May 25, 2001 and
that certain Third Amendment to Employment Agreement, dated October 2, 2003 (as so amended, the
“Employment Agreement”); and

WHEREAS, Executive and Employer have agreed to amend the Employment Agreement as hereinafter
set forth; and

WHEREAS, following the expiration of the Employment Agreement pursuant to this Amendment,
Executive has no intent of resuming his duties as an officer or employee of the Company at any time
in the foreseeable future

NOW THEREFORE, for good and valuable consideration, the receipt and adequacy of which are
hereby acknowledged, Executive and Employer hereby agree as follows:

1. The last day of the Employment Period shall be December 20, 2008. Following the Employment
Period, Executive shall no longer be an officer or employee of Employer. On or before the last day
of the Employment Period, the Company shall pay to Executive, in lieu of and not exceeding various
other payments which otherwise would have been due to Executive under the Employment Agreement, the
sum of $1,009,000, less applicable withholdings.

2. Executive participates in a Bonus Plan in accordance with the Employment Agreement. Under
the Bonus Plan, Executive is entitled to receive a bonus of up to 250% of his base salary upon
achievement by the Company of certain specified earnings per share, payable quarterly. As of the
date hereof, Executive has received the first two quarterly payments of his Bonus for fiscal year
2008. As of the last day of the Employment Period, it is anticipated that Executive will have
received the third such quarterly payment. Absent the expiration of the Employment Agreement
pursuant to this Amendment, Employer and Executive anticipate that Executive would have received
the fourth such quarterly payment by not later than May 1, 2009. As a result of the expiration of
the Employment Agreement pursuant to this Amendment, Executive will not be eligible for payment of
such fourth quarterly Bonus payment.

3. Absent the expiration of the Employment Agreement pursuant to this Amendment, Employer and
Executive anticipate that Executive would have received weekly Base Salary at the annualized rate
of $1,136,218 for the period from December 21, 2008 through January 31, 2009. As a result of the expiration of the Employment Agreement pursuant to this Amendment, Executive will not
be eligible for payment of Base Salary for such period.

 

 

 

4. Pursuant to the terms of the Employment Agreement, upon termination of the Employment
Period, in addition to any termination compensation which may otherwise be payable, Employer agreed
to pay to Executive an amount equivalent to Executive’s per diem compensation at the then-current
Base Salary rate multiplied by the number of unused vacation days, including any carry-over,
accrued by Executive as of the expiration of the Employment Period. As a result of the expiration
of the Employment Agreement pursuant to this Amendment, Executive will not be eligible for payment
of such per diem compensation.

5. Upon reaching the age of eligibility, Employee shall, upon request by Employer, enroll in
Medicare (or any successor governmental-sponsored program of insurance). Employer shall (a)
administer Employee’s benefits under Medicare and (b) be responsible for all of Employee’s
premiums, deductibles and co-pays which otherwise would not have been incurred by Employee had
Employer’s insurance been primary rather than secondary in the coordination of benefits for
Employee. Subject to such coordination of benefits, Employer shall provide to Executive during the
remainder of his life the highest level of hospital, medical, dental, vision and medical expense
reimbursement insurance as is provided by Employer, from time to time, to its most senior
executives. Notwithstanding Employee’s enrollment in Medicare, Employee shall be entitled to
receive the full level of services he otherwise would have received had Employer’s insurance been
primary rather than secondary in the coordination of benefits for Employee.

6. The Employment Agreement shall expire effective as of the end of the Employment Period and
shall thereupon be of no further force or effect. Except as otherwise set forth herein, Executive
shall not be entitled to receive from Employer any payments or benefits under the Employment
Agreement following the expiration of the Employment Period. Executive acknowledges foregoing all
potential severance payments which otherwise may have been due under the Employment Agreement. For
example, if the Company had elected to unilaterally terminate the Employment Agreement, the Company
would have been liable to pay to Executive the sum of $1.5 million.

Except as specifically amended hereby, the Employment Agreement shall remain in full force and
effect according to its terms. To the extent of any conflict between the terms of this Amendment
and the terms of the Employment Agreement, the terms of this Amendment shall control and prevail.
Capitalized terms used but not defined herein shall have those respective meanings attributed to
them in the Employment Agreement.

IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above
written.

JOS. A. BANK CLOTHIERS, INC.

	 	 	 	 	 
	 
	By:  	/s/ Sidney H. Ritman	 	/s/ ROBERT N. WILDRICK 	 
	 	Sidney H. Ritman,

Chairman, Compensation Committee	 	ROBERT N. WILDRICK 	 

 

2Filed by Bowne Pure Compliance

Exhibit 10.2

CONSULTING AGREEMENT

THIS CONSULTING AGREEMENT, dated as of the 9th day of September, 2008, between JOS.
A. BANK CLOTHIERS, INC. (“Client”) and ROBERT N. WILDRICK (“Consultant”),

WITNESSETH THAT:

FOR GOOD AND VALUABLE CONSIDERATION, the receipt and adequacy of which are hereby
acknowledged, Client and Consultant do hereby agree as follows:

ARTICLE I

RETENTION OF CONSULTANT

Section 1.1. Retention of Consultant. Client hereby retains Consultant, and Consultant
hereby agrees, to provide consulting services in accordance with the terms and conditions of this
Agreement (the “Consulting Services”). This Agreement is a contract for personal services and,
except as set forth in the immediately following sentence, the Consulting Services may be provided
only by Consultant. Notwithstanding the foregoing, the Consulting Services may be supplied through
a business entity organized and controlled by Consultant, provided that Consultant shall personally
act on behalf of such business entity in connection with all matters related to this Agreement. It
is contemplated that the Consulting Services requested from Consultant may include oral and written
opinions, consulting, recommendations and other communications rendered in response to specific
questions posed by Client. Consultant’s analysis and response to these questions may be based upon
a review of documentation provided by Client to Consultant relevant to Client’s actual or proposed
transactions and business activity (“Client Documentation”). Consultant is entitled to assume,
without independent verification, the accuracy of all Client Documentation and other
representations, assumptions, information and data provided by Client and its representatives.

ARTICLE II

CONSULTING PERIOD

Section 2.1. Consulting Period. The term of this Agreement (the “Consulting Period”)
shall commence February 1, 2009 and shall, subject to earlier termination as provided herein,
continue through January 31, 2012.

ARTICLE III

DESCRIPTION OF CONSULTING SERVICES

Section 3.1. Description of Consulting Services. During the Consulting Period, the
Consultant shall, when and as requested by the Board of Directors (acting by and through the Lead
Independent Director or pursuant to duly adopted resolutions or Unanimous Written Consents) or the
Chief Executive Officer of the Company and subject to his reasonable availability, provide services
and advice to the Company as a consultant and shall participate in external activities and events
for the benefit of the Company not to take up more than 40 hours per month of the Consultant’s
business time and attention. The Consulting Services shall consist primarily of monitoring the implementation of the Company’s long-range strategic plan and
suggesting, as needed, any proposed modifications thereto; identifying and evaluating major
strategic initiatives such as mergers, acquisitions, divestitures, joint ventures or licensing
agreements; and performing such other duties as may be assigned from time to time.

 

 

 

ARTICLE IV

FEES AND EXPENSES

Section 4.1. Fees and Expenses. For services rendered hereunder, Client shall pay to
Consultant a fee equivalent to $825,000 per year, payable at the rate of $68,750 per month on the
first day of each calendar month during the Consulting Period (the “Consulting Fee”). The
Consulting Fee shall be prorated for any partial month during the Consulting Period. Client shall
also reimburse Consultant for all reasonable out-of-pocket expenses incurred by Consultant in the
performance of his duties hereunder. Consultant shall submit signed, itemized accounts of such
expenses in accordance with Client’s procedures and policies as adopted and in effect from time to
time.

ARTICLE V

DEFAULTS AND REMEDIES

Section 5.1. Client Default.

(a) Each of the following shall constitute a “Client Default” hereunder:

(i) Failure by Client to pay any amount owing hereunder within ten (10) days after notice from
Consultant that the same is due and payable.

(ii) Failure by Client in the performance or observance of any term or condition of this
Agreement [other than a failure described in Section 5.1(a)(i)], which failure is not cured within
thirty (30) days after the giving of notice thereof by Consultant, unless such failure is of such
nature that it cannot be cured within such thirty (30) day period, in which case no Client Default
shall occur so long as Client shall commence the curing of the failure within such thirty (30) day
period and shall thereafter diligently prosecute the curing of same.

(b) Upon the occurrence of any Client Default, Consultant shall have the right to exercise
either or both of the following remedies:

(i) Terminate this Agreement, in which event Client shall pay to Consultant the Consulting Fee
for the balance of the term which would have constituted the Consulting Period absent such
termination. Such balance shall be payable in installments as and when it otherwise would have been
payable hereunder; or

(ii) Exercise any other remedy permitted by law or in equity.

Client shall also pay to Consultant, promptly upon demand, all costs and expenses incurred by
Consultant in pursuing any remedy for a Client Default, including, but not limited to, reasonable
attorneys’ fees.

 

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Section 5.2. Consultant Default.

(a) Each of the following shall constitute a “Consultant Default” hereunder:

(i) Failure by Consultant to devote up to 40 hours per month of Consultant’s business time and
attention to the performance of Consulting Services hereunder at the request of the Board of
Directors or Chief Executive Officer of the Company.

(ii) Failure by Consultant in the performance or observance of any term or condition of this
Agreement [other than a failure described in Section 5.2(a)(i)], which failure is not cured within
thirty (30) days after the giving of notice thereof by Client, unless such failure is of such
nature that it cannot be cured within such thirty (30) day period, in which case no Consultant
Default shall occur so long as Consultant shall commence the curing of the failure within such
thirty (30) day period and shall thereafter diligently prosecute the curing of same.

(b) Except as set forth in Section 6.3 (b), upon the occurrence of any Consultant Default,
Client shall have the right to exercise either or both of the following remedies:

(i) Terminate this Agreement, in which event Client shall pay to Consultant any unpaid,
prorated Consultant Fee due through the date of termination and thereafter neither party shall have
any further liability hereunder; or

(ii) Exercise any other remedy permitted by law or in equity.

Consultant shall also pay to Client, promptly upon demand, all costs and expenses incurred by
Client in pursuing any remedy for a Consultant Default, including, but not limited to, reasonable
attorneys’ fees.

ARTICLE VI

OTHER TERMINATIONS

Section 6.1. Termination without Cause.

(a) Client or Consultant may, by delivery of not less than 30 days’ notice to the other at any
time during the Consulting Period, terminate this Agreement without cause.

(b) In the event Client shall terminate this Agreement without cause, Client shall pay to
Consultant the Consulting Fee for the balance of the term which would have constituted the
Consulting Period absent such termination. Such balance shall be payable in installments as and
when it otherwise would have been payable hereunder.

 

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(c) In the event Consultant shall terminate this Agreement without cause, Client shall pay to
Consultant any unpaid, prorated Consultant Fee due through the date of termination and thereafter
neither party shall have any liability for future performance hereunder.

Section 6.2 Termination by Client for Cause.

(a) Client may, at any time during the Consulting Period by notice to Consultant in accordance
with and only after full compliance with the procedure set forth herein terminate this Agreement
“for cause” effective immediately. For the purposes hereof, “for cause” means:

(i) the conviction of Consultant in a court of competent jurisdiction
of a crime constituting a felony in such jurisdiction involving money
or other property of Client or any of its affiliates or any other
felony or offense involving moral turpitude; or

(ii) the willful commission of an act of fraud or
misrepresentation (including the omission of material facts), provided
that such acts relate to the business of the Company and would
materially and negatively impact upon the Company.

(b) In the event Client shall terminate this Agreement for cause pursuant to Section 6.2 (a),
Client shall pay to Consultant any unpaid, prorated Consultant Fee payable through the date of
termination and thereafter neither party shall have any further liability hereunder.

Section 6.3 Termination in the event of a Change of Control.

(a) In the event of a “change of control” (as hereinafter defined), Consultant may terminate
this Agreement effective immediately provided that not more than 90 days shall have elapsed
subsequent to Consultant’s becoming aware of the occurrence of the change of control.

For purposes of this Agreement, a “change of control” shall be deemed to have occurred if, as
a result of a single transaction or a series of transactions, (A) any “person” (as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)), other than a trustee or other fiduciary holding securities under any employee benefit plan
of Client or a corporation owned, directly or indirectly, by the stockholders of Client (including
any nominee corporation that holds shares of Client on behalf of the beneficial owners of such
corporation), in substantially the same proportions as their ownership of stock, of Client, is or
becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or
indirectly, of securities of Client representing 51% or more of the combined voting power of
Client’s then outstanding securities; or (B) any “person” (as such term is used in Sections13(d)
and 14(d) of the Exchange Act), other than a trustee or other fiduciary holding securities under
any employee benefit plan of Client or a corporation owned, directly or indirectly, by the
stockholders of Client (including any nominee corporation that holds shares of Client on behalf of
the beneficial owners of such corporation), in substantially the same proportions as their
ownership of stock of Client, is or becomes the “beneficial owner” (as defined in Rule 13d-3 under
the Exchange Act), directly or indirectly, of securities of Client representing 30% or more of the
combined voting power of Client’s then outstanding securities and there are at least a

 

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majority of directors serving on the Board of Directors who were not serving in such capacity
as of the date hereof or who were not elected with the consent of the Consultant; or (C) the
shareholders of Client approve a merger or consolidation of Client with any other corporation,
other than a merger or consolidation which would result in the voting securities of Client
outstanding immediately prior thereto continuing to represent (either by remaining outstanding or
by being converted into voting securities of the surviving entity) at least 70% of the combined
voting power of the voting securities of Client or such surviving entity outstanding immediately
after such merger or consolidation, or the shareholders of Client approve a plan of complete
liquidation of Client or an agreement for the sale or disposition by Client of all or substantially
all of Client’s assets other than a liquidation or sale which would result in the holders of the
voting securities of Client immediately prior thereto continuing to hold at least 70% of the
combined voting power of the successor entity immediately following such liquidation or sale.

(b) In the event (i) Consultant terminates this Agreement as a result of a change in control,
or (ii) within ninety days following a change in control Client terminates this Agreement as a
result of a Consultant Default pursuant to Section 5.2, then Client shall immediately pay to
Consultant the balance of the Consulting Fee for the remainder of the term which would have
constituted the Consulting Period absent such termination.

Section 6.4. Death or Disability. This Agreement shall terminate on the date of
Consultant’s death or in the event Consultant suffers a disability which prevents Consultant from
performing his duties hereunder. In either of such events, Client shall pay to Consultant (or his
estate) any unpaid, prorated Consultant Fee due through the date of termination and thereafter
neither party shall have any further liability hereunder.

ARTICLE VII

NON-COMPETE

Section 7.1. Non-compete. During the Consulting Period (or the term which would have
constituted the Consulting Period absent a termination of this Agreement and during which
Consultant is receiving payments based upon the Consultant Fee), Consultant shall not, directly or
indirectly (a) engage in any activities that are in competition with Client in any geographic area
within 50 miles of the location of any Client store (owned or franchised) as of the date of
termination of this Agreement; (b) engage in any catalog or Internet business that focuses on the
sale of men’s clothing; (c) solicit any customer of Client; or (d) solicit any person who is then
employed by Client or was employed by Client within one year of such solicitation to (i) terminate
his or her employment with Client, (ii) engage in any activity for compensation (whether as an
employee, consultant, independent contractor, partner, principal or otherwise) with anyone other
than Client, or (iii) in any manner interfere with the business of Client. Consultant acknowledges
and agrees that in the event of any violation by Consultant by his obligations under this section,
Client shall be entitled to injunctive relief without any necessity to post bond (unless otherwise
required by the court). Consultant acknowledges and agrees that Client’s catalog and Internet
business is competitive with retail store businesses offering similar product lines.

 

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ARTICLE VIII

MISCELLANEOUS

Section 8.1. Notices. All notices required or permitted to be given hereunder shall be
in writing and shall be (a) sent by certified mail-return receipt requested, postage prepaid, (b)
personally delivered (via overnight delivery or otherwise), or (c) transmitted by facsimile.
Notices shall be deemed delivered as follows: (a) three days after deposit with the United States
Postal Service by certified mail; (b) one business day after deposit with a nationally-recognized
overnight delivery service; (c) on the date of delivery when sent by local, commercial delivery
service; or (d) on the date of transmission if sent by facsimile during the hours of 9:00 a.m. to
5:00 p.m., Eastern time, on a business day, or on the next following business day if sent by
facsimile other than during such time. Notwithstanding anything to the contrary contained herein,
notices shall be deemed to have been given when received or refused by the party to which it was
sent or delivered and any writing actually received by the party to whom it is addressed
(regardless of the means of delivery) shall be sufficient notice hereunder. Notices shall be
addressed as follows, provided that either party may, at any time, in the manner set forth for
giving notices to the other, establish a different address to which notices to it or him shall be
sent:

	 	 	 
	If to Client:

	 	If to Consultant:
	Jos. A. Bank Clothiers, Inc.

	 	Mr. Robert N. Wildrick
	500 Hanover Pike

	 	220 Nightingale Trail
	Hampstead, Maryland 21704

	 	Palm Beach, Florida 33480
	Attn: General Counsel

	 	Fax: (561) 863-3246
	Fax: (410) 239-5716
	 	 

Section 8.2. Independent Contractor. Consultant shall provide the Consulting Services
strictly as an independent contractor and nothing contained herein shall be deemed or construed as
evidencing hereunder a partnership, joint venture, agency, employer/employee, or other relationship
between Client and Consultant.

Section 8.3. Governing Law. This Agreement shall be governed by and construed and
enforced in accordance with the laws of the State of Maryland, without regard to the application of
any conflicts of laws jurisprudence. Consultant hereby consents to the jurisdiction of the state
courts of the State of Maryland and the United States District Court for District of Maryland over
all claims arising under this Agreement.

Section 8.4. Arbitration. Any dispute or controversy arising under or in connection
with this Agreement shall be settled exclusively by arbitration in Baltimore, Maryland in
accordance with the rules of the American Arbitration Association then in effect. Judgment may be
entered on the arbitration award in any court having jurisdiction.

Section 8.5. Headings. All descriptive headings in this Agreement are inserted for
convenience only and shall be disregarded in construing or applying any provision of this
Agreement.

 

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Section 8.6. Counterparts. This Agreement may be executed by facsimile and/or in
counterparts, each of which shall be deemed to be an original, but all of which together shall
constitute one and the same instrument.

Section 8.7. Severability. If any provisions of this Agreement or the application
thereof to any person or circumstance shall be invalid or unenforceable to any extent, then (a) the
other provisions of this Agreement, (b) the provision in question to the extent such provision is
not invalid or unenforceable, and (c) the application thereof to any other person or circumstances,
shall not be affected thereby and shall be enforced to the fullest extent permitted by law.

Section 8.8 Entire Agreement. This Agreement constitutes the entire understanding and
agreement between the parties hereto with respect to the subject matter hereof and supersedes all
prior and contemporaneous agreements and understandings, inducements or conditions, express or
implied, oral or written, except as herein contained. This Agreement shall become effective only
upon its execution and delivery by each party hereto.

Section 8.9. Successors and Assigns. This Agreement shall be binding upon and inure to
the benefit of each of the parties hereto and their respective successors, heirs and assigns.
Except as otherwise provided in Section 1.1, this Agreement may not be assigned by Consultant.

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

	 	 	 	 	 	 	 
	CLIENT:	 	 	 	 
	JOS. A. BANK CLOTHIERS, INC.	 	 	 	CONSULTANT:
	 
	 	 	 	 	 	 
	By:

	 	/s/ Sidney H. Ritman
	 	 	 	/s/ ROBERT N. WILDRICK
	 

	 	 
	 	 	 	 
	 

	 	Sidney H. Ritman, Chairman
	 	 	 	ROBERT N. WILDRICK
	 

	 	Compensation Committee	 	 	 	 

 

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