Document:

<PAGE>

                                                                   Exhibit 10.06

          SECOND AMENDMENT TO DEBTOR IN POSSESSION LOAN AND SECURITY
          ----------------------------------------------------------
                                   AGREEMENT
                                   ---------

     This Second Amendment to Debtor In Possession Loan and Security Agreement
is made as of this 17th day of September, 2001 by and among

     CASUAL MALE CORP. (the "Borrowers' Representative"), a Massachusetts
     corporation, having a principal place of business at 555 Turnpike Street,
     Canton, Massachusetts 02021, as agent for the Borrowers, being those
     Persons named on Exhibit 1 hereto, debtors and debtors in possession;

     The Borrowers;

     each of the Revolving Credit Lenders party to the Loan Agreement (defined
     below) (together with each of their successors and assigns, referred to
     individually as a "Revolving Credit Lender" and collectively as the
     "Revolving Credit Lenders"), and

     FLEET RETAIL FINANCE INC., as Administrative Agent and Collateral Agent, a
     Delaware corporation, having its principal place of business at 40 Broad
     Street, Boston, Massachusetts 02109; and

     BACK BAY CAPITAL FUNDING LLC, as Tranche B Lender and as Tranche C Lender,

in consideration of the mutual covenants herein contained and benefits to be
derived herefrom.

                              W I T N E S S E T H

     A.   Reference is made to the Debtor In Possession Loan and Security
Agreement dated as of May 18, 2001 by and among the Borrowers' Representative,
the Borrowers, the Revolving Credit Lenders, the Tranche B Lender, the Tranche C
Lender, the Administrative Agent and the Collateral Agent (as amended and in
effect, the "Loan Agreement").

     B.   The parties to the Loan Agreement desire to modify and amend certain
provisions of the Loan Agreement, as provided herein.

     Accordingly, the parties hereto agree as follows:

     1.   Definitions.  Capitalized terms used herein and not otherwise defined
          -----------
herein shall have the meanings assigned to such terms in the Loan Agreement.

     2.   Amendments to Exhibits to the Loan Agreement. Exhibit 7:7-11 to the
          --------------------------------------------
Loan Agreement is hereby deleted in its entirety and a new Exhibit 7:7-11 in the
form annexed to this Second Amendment is substituted in its stead.
<PAGE>

     5.   Conditions Precedent to Effectiveness.   This Second Amendment shall
          -------------------------------------
not be effective until each of the following conditions precedent have been
fulfilled to the satisfaction of the Administrative Agent:

     a.     This Second Amendment shall have been duly executed and delivered by
            the respective parties hereto and, shall be in full force and effect
            and shall be in form and substance satisfactory to the
            Administrative Agent and the Lenders.

     b.     All action on the part of the Borrowers necessary for the valid
            execution, delivery and performance by the Borrowers of this Second
            Amendment shall have been duly and effectively taken and evidence
            thereof satisfactory to the Administrative Agent shall have been
            provided to the Administrative Agent.

     c.     The Borrowers shall have provided such additional instruments and
            documents to the Administrative Agent as the Administrative Agent
            and Administrative Agent's counsel may have reasonably requested.

     6.   Miscellaneous.
          -------------

     a.     This Second Amendment may be executed in several counterparts and by
            each party on a separate counterpart, each of which when so executed
            and delivered shall be an original, and all of which together shall
            constitute one instrument.

     b.     This Second Amendment expresses the entire understanding of the
            parties with respect to the transactions contemplated hereby. No
            prior negotiations or discussions shall limit, modify, or otherwise
            affect the provisions hereof.

     c.     Any determination that any provision of this Second Amendment or any
            application hereof is invalid, illegal or unenforceable in any
            respect and in any instance shall not effect the validity, legality,
            or enforceability of such provision in any other instance, or the
            validity, legality or enforceability of any other provisions of this
            Second Amendment.

     d.     The Borrowers shall pay on demand all costs and expenses of the
            Agents and the Lenders, including, without limitation, reasonable
            attorneys' fees in connection with the preparation, negotiation,
            execution and delivery of this Second Amendment.

     e.     The Borrowers warrant and represent that the Borrowers have
            consulted with independent legal counsel of the Borrowers' selection
            in connection with this Second Amendment and is not relying on any
            representations or warranties of the Agents, the Lenders or their
            counsel in entering into this Second Amendment.
<PAGE>

     IN WITNESS WHEREOF, the parties have duly executed this Second Amendment as
of the day and year first above written.

                                    CASUAL MALE CORP.

                                         by
                                            -----------------------
                                         Name:  Elizabeth C. White
                                         Title: Chief Financial Officer

                                    THE BORROWERS
                                         MORSE SHOE, INC.
                                         JBI, INC.
                                         JBI APPAREL, INC.
                                         THE CASUAL MALE, INC.
                                         WGS CORP.
                                         TCMB&T, INC
                                         LP INNOVATIONS, INC.
                                         SPENCER COMPANIES, INC.
                                         BUCKMIN, INC.
                                         ELM EQUIPMENT CORP.
                                         JBI HOLDING COMPANY, INC.
                                         TCM HOLDING COMPANY, INC.
                                         ISAB, INC.
                                         MORSE SHOE INTERNATIONAL,
                                         INC.
                                         WHITE CAP FOOTWEAR, INC

                                         by
                                           -----------------------------
                                         Name:  Elizabeth C. White
                                         Title: Chief Financial Officer

                                    FLEET RETAIL FINANCE INC.,
                                         as Administrative Agent, as Collateral
                                         Agent, as Swingline Lender, and as
                                         Revolving Credit Lender

                                         By:________________________

                                         Name:______________________
<PAGE>

                                         Title:_______________________

                                    BACK BAY CAPITAL FUNDING, LLC
                                         as Tranche B Lender and Tranche C
                                         Lender

                                         By:________________________

                                         Name:______________________

                                         Title:_______________________

The following Lenders consent to the amendments set forth herein with the
exception of the amendment to the financial performance covenants (other than
Excess Availability) set forth on Exhibit 7:7-11, as to which their consent is
not required.

                                    FOOTHILL CAPITAL CORPORATION

                                    By..........................................

                                    Name........................................

                                    Title.......................................

                                    HELLER FINANCIAL, INC.

                                    By..........................................

                                    Name........................................

                                    Title.......................................

                                    LASALLE BUSINESS CREDIT, INC

                                    By..........................................

                                    Name........................................

                                    Title.......................................
<PAGE>

                                    NATIONAL CITY COMMERCIAL FINANCE, INC.

                                    By..........................................

                                    Name........................................

                                    Title.......................................

                                    IBJ WHITEHALL BUSINESS CREDIT CORP.

                                    By..........................................

                                    Name........................................

                                    Title.......................................

                                    THE PROVIDENT BANK

                                    By..........................................

                                    Name........................................

                                    Title.......................................
<PAGE>

                        FINANCIAL PERFORMANCE COVENANTS

     Minimum Cumulative EBITDAR. The Borrowers shall not permit or suffer the
following, tested as of the last day of each month (commencing with June 30,
2001 and through December 31, 2001) on a cumulative basis dating back to January
31, 2001, to be less than the following minimum cumulative amount: (a)
Consolidated EBITDAR minus (b) 100% of any adequate protection payments made by
the Borrowers during such period and not reflected in the Business Plan (without
regard to any updating of the Business Plan), to the extent that such adequate
protection payments were not otherwise included as reductions to EBITDAR for the
period of measurement:

--------------------------------------------------------------------------------
 Month Ending:                                   Minimum Cumulative EBITDAR
                                                 $ Millions
--------------------------------------------------------------------------------
 June, 2001*                                                            6.0
--------------------------------------------------------------------------------
 July, 2001*                                                            5.3
--------------------------------------------------------------------------------
 August, 2001*                                                          5.0
--------------------------------------------------------------------------------
 September, 2001*                                                       7.7
--------------------------------------------------------------------------------
 October, 2001*                                                        10.3
--------------------------------------------------------------------------------
 November, 2001*                                                       14.2
--------------------------------------------------------------------------------
 December, 2001*                                                       27.1
--------------------------------------------------------------------------------

     * The Borrower's compliance with the Minimum Cumulative EBITDAR test for
the subject months will be waived unless Excess Availability is less than
$17,500,000 for any three consecutive days during such period (the "Test
Condition"). If the test Condition occurs; the Borrower shall be obligated to
comply with the Minimum Cumulative EBITDAR test for the subject month in which
the Test Condition occurs and shall also be required to be in compliance with
the Minimum Cumulative EBITDAR test for each month both preceding, and
subsequent to, the month in which the Test Condition occurs (failing which an
Event of Default shall be deemed to have arisen). In any event, whether or not
the Test Condition has occurred, the Borrowers must comply with the Minimum
Cumulative EBITDAR test for October, 2001 and each month thereafter.

     Minimum Rolling Four Quarter EBITDAR. The Borrowers shall not permit or
suffer the following, tested as of the last day of each month (commencing with
January, 2002) on a trailing twelve month basis, to be less than the following
minimum cumulative amount: (a) Consolidated EBITDAR minus (b) 100% of any
adequate protection payments made by the Borrowers during such period and not
reflected in the

<PAGE>

Business Plan (without regard to any updating of the Business Plan), to the
extent that such adequate protection payments were not otherwise included as
reductions to EBITDAR for the period of measurement:

------------------------------------------------------------------------------
 Month Ending:                             Minimum EBITDAR (Rolling 12 Month
                                           Basis):
                                           $ Millions
------------------------------------------------------------------------------
 January, 2002                                                         22.5
------------------------------------------------------------------------------
 February, 2002                                                        22.6
------------------------------------------------------------------------------
 March, 2002                                                           21.8
------------------------------------------------------------------------------
 April, 2002                                                           22.0
------------------------------------------------------------------------------
 May, 2002                                                             23.1
------------------------------------------------------------------------------
 June, 2002                                                            23.5
------------------------------------------------------------------------------
 July, 2002                                                            25.7
------------------------------------------------------------------------------
 August, 2002                                                          25.8
------------------------------------------------------------------------------
 September, 2002                                                       25.8
------------------------------------------------------------------------------
 October, 2002                                                         25.9
------------------------------------------------------------------------------
 November, 2002                                                        26.0
------------------------------------------------------------------------------
 December, 2002                                                        25.9
------------------------------------------------------------------------------
 January, 2003                                                         26.0
------------------------------------------------------------------------------
 February, 2003                                                        26.0
------------------------------------------------------------------------------
 March, 2003                                                           26.0
------------------------------------------------------------------------------
 April, 2003                                                           26.0
------------------------------------------------------------------------------
 May, 2003                                                             26.0
------------------------------------------------------------------------------

                                                                  EXHIBIT 7:7-11
                                                                          Page 2

<PAGE>

     Capital Expenditures. The Borrower shall not permit or suffer its
Consolidated Capital Expenditures to exceed the following:

--------------------------------------------------------------------------------
 Fiscal Year            Maximum for Entire          Maximum for Each
                        Fiscal Year                 Quarter
--------------------------------------------------------------------------------
 2002                   $6,900,000                  $2,500,000, other than for
                                                    the quarter ending on or
                                                    about October 31, 2001, for
                                                    which the maximum shall be
                                                    $4,400,000
--------------------------------------------------------------------------------
 2003                    6,000,000                  2,500,000
--------------------------------------------------------------------------------

     Excess Availability. The Borrower shall at all times have Excess
Availability of not less than the following:

--------------------------------------------------------------------------------
 From                       To                       Minimum Excess
                                                     Availability ($ Millions)
--------------------------------------------------------------------------------
 Closing                    December 6, 2001         5.0
--------------------------------------------------------------------------------
 December 7, 2001           December 13, 2001        6.5
--------------------------------------------------------------------------------
 December 14, 2001          December 20, 2001        8.0
--------------------------------------------------------------------------------
 December 21, 2001          December 27, 2001        9.5
--------------------------------------------------------------------------------
 December 28, 2001          Maturity Date            11.0
--------------------------------------------------------------------------------

                                                                  EXHIBIT 7:7-11
                                                                          Page 3<PAGE>

                                                                   Exhibit 10.18

                       SEVERANCE COMPENSATION AGREEMENT

     This Severance Compensation Agreement (the "Agreement") by and between
Casual Male Corp., a Massachusetts corporation (the "Company") with its
principal place of business at 555 Turnpike Street, Canton, Massachusetts and
Alan I. Weinstein of 13 Kings Road, Sharon, Massachusetts 02067 (the
"Executive") shall be effective as of the date the Agreement is approved by the
United States Bankruptcy Court for the Southern District of New York (the
"Bankruptcy Court").

     WHEREAS, the Company and certain of its affiliates filed voluntary
petitions to reorganize their businesses under Chapter 11 of the United States
Bankruptcy Code, as amended, on May 18, 2001, which cases have been
administratively consolidated under the heading "Casual Male Corp. et al." and
have been assigned case numbers 01-41403(REG) through 01-41418(REG) (the
"Chapter 11 Case");

     WHEREAS, the Board of Directors of the Company has determined that it is in
the best interests of the Company and its stakeholders that certain key members
of management be provided with the appropriate incentives to cause them to
remain employed by the Company pending the Company's reorganization;

     WHEREAS, the Official Committee of Unsecured Creditors of the Company has
consented to the Company entering into this Agreement;

     NOW THEREFORE, in consideration of the agreements contained herein
including the undertakings of the parties hereto, the receipt and sufficiency of
which are hereby acknowledged by each of the parties hereto, it is covenanted
and agreed as follows:

1.   Severance Compensation upon Termination of Employment.
     ------------------------------------------------------

     In the event that the Executive's employment with the Company or any of its
affiliates is terminated for one of the reasons described below, the Company
shall pay to the Executive the corresponding cash severance payment (the
"Severance Payment"):

     (a)       Termination Without Cause or For Good Reason. In the event the
               --------------------------------------------
          Executive's employment with the Company is terminated (x) by the
          Company without Cause or (y) by the Company or by the Executive for
          "good reason" (as defined in Section 1(d) below), the Severance
          Payment shall be the Executive's Annual Base Salary for a period of 18
          months and shall be payable to the Executive in accordance with the
          Company's regular pay intervals for its senior executives beginning
          immediately following the Executive's Termination Date. That portion
          of the Severance Payments made pursuant to this Section 1(a) equaling
          six (6) months

                                       1
<PAGE>

          of Executive's Annual Base Salary shall be offset by any salary,
          earned income, deferred income or other compensation earned by the
          Executive from other employment during the first six (6) months of the
          Severance Period, it being understood that the Executive shall use
          reasonable efforts to find new employment suitable to, and consistent
          with, his or her training and experience during the first six (6)
          month period following the Termination Date.

     (b)       Change of Control. In the event that the Executive's employment
               -----------------
          with the Company is terminated by the Company or any successor thereto
          following or in connection with a "change of control" as defined in
          Exhibit A hereto then, at the election of the Executive, the Severance
          Payment shall be either: (x) a payment equal to the Executive's Annual
          Base Salary for a period of 18 months, payable in accordance with the
          Company's normal pay intervals for its senior executives, provided,
                                                                    --------
          that the portion of such Severance Payment equaling six (6) months of
          ----
          Executive's Annual Base Salary shall be offset by any salary, earned
          income, deferred income or other compensation earned by the Executive
          from other employment during the first six (6) months of the Severance
          Period (it being understood that the Executive shall use reasonable
          efforts to find new employment suitable to, and consistent with, his
          or her training and experience during the first six (6) month period
          following the Termination Date) or (y) a payment equal to Executive's
          Annual Base Salary for a period of 12 months made to the Executive in
          a single lump sum cash payment within ten (10) business days of the
          Termination Date, which payment shall not by offset by salary, earned
          income, deferred income or other income earned by the Executive from
          other Employment.

     (c)       Liquidation of Company. In the event that the Executive's
               ----------------------
          employment with the Company is terminated by the Company or its estate
          following or in connection with the conversion of the Company's
          Chapter 11 Case to a case under Chapter 7 of the United States
          Bankruptcy Code or other liquidation of the Company, the Severance
          Payment shall be a payment equal to Executive's Annual Base Salary for
          a period of 12 months made to the Executive in a single lump sum cash
          payment within ten (10) business days of the Termination Date, which
          payment shall not by offset by salary, earned income, deferred income
          or other income earned by the Executive from other Employment.

     (d)       Certain Definitions. For purposes of this Agreement, the
               -------------------
          following words and phrases shall have the following meanings:

          (i)       "Annual Base Salary" shall mean the Executive's base salary
               in effect on the date of this Agreement, as such base salary may
               be increased from time to time.

          (ii)      "Termination Date" shall mean the date upon which the

                                       2
<PAGE>

               Executive formally ceases all regular employment activities on
               behalf of the Company as recognized by the records of the
               Company.

          (iii)     A termination for "good reason" shall be deemed to have
               occurred, and the Executive shall be entitled to the benefits set
               forth in this Section 1, if the Executive voluntarily terminates
               his employment after the occurrence of any of the following
               events: (x) the assignment to the Executive of any duties
               inconsistent with the highest position (including status,
               offices, titles and reporting requirements), authority, duties or
               responsibilities attained by the Executive during the period of
               his employment by the Company; (y) a relocation of the Executive
               outside the metropolitan Boston area; or (z) a decrease in the
               Executive's compensation (including base salary, bonus or fringe
               benefits).

          (iv)      "Cause" shall mean (w) willful misconduct with regard to the
               Company intended to have, and having, a material adverse affect
               on the Company, (x) failure by the Employee to cure a material
               breach of this Agreement within 15 days after written notice
               thereof by the Company, (y) refusal to or failure to attempt to
               follow the reasonable written legal direction of the Board of
               Directors of the Company or the Chief Executive Officer of the
               Company or (z) the commission by the Employee of an act
               constituting a felony.

2.   Effective Date.
     ---------------

     This Agreement shall become effective as of the date on which the
Bankruptcy Court grants its approval thereto.

3.   Release of Liability.
     --------------------

     Notwithstanding anything to the contrary herein, as a condition precedent
to the Company's obligation to make the Severance Payment described in Section 1
hereof, Executive shall execute and deliver to the Company a release and waiver
of employment liabilities in substantially the form attached to this Agreement
as Exhibit B, provided, however, that the Company may modify such form from time
to time in order for such form to comply with the continually developing law of
employment release enforceability.

4.   Confidential Information.
     ------------------------

     The Employee will never use for his own advantage or disclose any
proprietary or confidential information relating to the business operations or
properties of the Company, any affiliate thereof or any of their respective
customers, suppliers, landlords or licensees.  On the Termination Date, the
Executive will surrender and deliver to the Company all documents and

                                       3
<PAGE>

information of every kind relating to or connected with the Company and its
affiliates and their respective businesses, customers, suppliers, landlords and
licensees.

5.  Nonsolicitation of Employees.
    ----------------------------

    (a) For a one (1) year period following the Termination Date, Executive will
not, in any manner, hire or engage, or assist any company or business
organization by which he is employed or which is directly or indirectly
controlled by him to hire or engage, any person who is or was employed by the
Company or one of its affiliates at any time during his employment with the
Company or during the period of one (1) year thereafter.

    (b) For a one (1) year period following the Termination Date, Executive will
not, in any manner, solicit, recruit or induce, or assist any company or
business organization by which he is employed or which is directly or indirectly
controlled by him to solicit, recruit or induce, any person who is or was
employed by the Company or one of its affiliates (or is or was an agent,
representative, contractor, project consultant or consultant of the Company or
one of its affiliates) at any time during his employment with the Company, or
during the period of one (1) year thereafter, to leave his or her employment,
relationship or engagement with the Company.

6.  Nonsolicitation of Customers.
    ----------------------------

    (a) Executive agrees that, for a period of one (1) year following the
Termination Date he will not, in any manner, solicit for business (or assist any
company or business organization by which he is employed or which is directly or
indirectly controlled by him to solicit or do business) any customer or client
of the Company or any of its affiliates with whom Executive has had contact or
for whom Executive has performed services during his employment with the
Company.

    (b) Executive agrees that, for a period of one (1) year following the
Termination Date, Executive will not, in any manner, solicit for business (or
assist any company or business organization by which he is employed or which is
directly or indirectly controlled by him to solicit or do business) any customer
or client of the Company made known to him by the Company during his employment
with the Company.

7.  Company's Sole Severance Obligation.
    -----------------------------------

    Executive acknowledges and agrees that the Severance Payment set forth in
Section 1 is in lieu of and shall preclude any and all other severance or
termination payments that would otherwise be made by Company to Executive as the
result of Company policy, state or federal laws or regulations or otherwise
(including, without limitation, claims under the Worker Adjustment and
Retraining Act) and that Company's commitment to make said Severance Payment is
subject to and conditioned upon the prior execution by Executive of the release
and waiver described in Section 3 above.

                                       4
<PAGE>

8.   Nonguarantee of Employment.
     ---------------------------

     Nothing contained in this Agreement shall be construed as a contract of
employment between the Company and the Executive, or as a right of the Executive
to continue in the employ of the Company, or as a limitation of the right of the
Company to discharge the Executive with or without cause.

9.   Successors.
     -----------

     (a) This Agreement shall be binding upon the Company, its successors and
assigns, and in the event of a Change of Control of the Company or in the event
the Company shall be merged or consolidated or otherwise combined into one or
more other corporations or other entities, or substantially all of its assets
are sold or otherwise transferred to one or more other corporations or entities,
this Agreement shall be binding upon the corporation or entity resulting from
such merger or consolidation or to which such assets shall be sold or
transferred and shall be assignable by it by way of transfer of assets, merger,
consolidation or combination to the same extent as if it were the Company.
Except as provided above in this Section 8(a), this Agreement shall not be
assignable by the Company or its successors and assigns. The Company will
require any successor or assign (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business
and/or assets of the Company, by agreement in form and substance satisfactory to
the Executive, expressly, absolutely and unconditionally to assume and agree to
perform this Agreement in the same manner and to the same extent that the
Company would be required to perform it if no such succession or assignment had
taken place.

     (b) This Agreement shall inure to the benefit of and be enforceable by the
Executive's personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees.

10.  Assignment by Executive.
     ------------------------

     This Agreement shall not be assignable by the Executive and shall not be
subject to attachment, execution, pledge or hypothecation.

11.  Notice.
     -------

     For the purpose of this Agreement, notices and all other communications
provided for in this Agreement shall be in writing and either delivered in hand
or by mail by United States registered or certified mail, return receipt
requested, postage prepaid, or by nationally recognized overnight courier, and
shall be deemed to have been duly given the sooner of when actually received or
three (3) days following deposit (a) in the mail by United States registered or
certified

                                       5
<PAGE>

mail, return receipt requested, postage prepaid or (b) with a nationally
recognized overnight courier, as follows:

    If to the Company:

          Casual Male Corp.
          555 Turnpike Street
          Canton, MA 02021
          Attn:  President

          Copy to: General Counsel

    If to the Executive:

          Alan I. Weinstein
          13 Kings Road
          Sharon, Massachusetts 02067

or to such other address as either party may have furnished to the other in
writing in accordance herewith, except that notices of change of address shall
be effective only upon receipt.

12.  Modification.
     -------------

     No provision of this Agreement may be modified, waived or discharged unless
such waiver, modification or discharge is agreed to in writing signed by the
Executive and the Company.  No waiver by either party hereto of, or compliance
with, any condition or provision of this Agreement to be performed by such party
shall be deemed a waiver of any other provisions hereof or of any similar or
dissimilar provisions or conditions at the same or any prior or subsequent time.
No agreements or representations, oral or otherwise, express or implied, with
respect to the subject matter hereof have been made by either party which are
not set forth expressly in this Agreement.

13.  Validity.
     ---------

     The invalidity or unenforceability of any provisions of this Agreement
shall not affect the validity or enforceability of any other provisions of this
Agreement, which shall remain in full force and effect.

14.  Governing Law.
     --------------

     This Agreement shall be governed by the laws of the Commonwealth of
Massachusetts without giving effect to the conflicts of law principles thereof.
The parties hereby agree that

                                       6
<PAGE>

Bankruptcy Court shall retain exclusive jurisdiction to determine any disputes
under this Agreement during the pendency of the Chapter 11 Case (or any
conversion of such case to a case under Chapter 7 of the United States
Bankruptcy Court).

15.  Entire Agreement
     ----------------

     This Agreement constitutes the entire understanding of the parties, and
revokes and supersedes all prior agreements between the parties (including,
without limitation, any employment agreements, severance agreements and change
of control agreements) and is intended as a final expression of their Agreement.
This Agreement shall take precedence over any other documents that may be in
conflict therewith.

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

                                             CASUAL MALE CORP.

                                             By: /s/  Stuart M. Glasser
                                                 ----------------------
                                                      Stuart M. Glasser
                                                      President

                                             EXECUTIVE:

                                                      /s/  Alan I. Weinstein
                                                      ----------------------
                                                           Alan I. Weinstein

                                       7
<PAGE>

                                   EXHIBIT A

"Change of Control" shall mean the occurrence of any one of the following
events:

          (i)    any "person," as such term is used in Sections 13(d) and 14(d)
     of the Securities Exchange Act of 1934 (the "Act") (other than the Company,
     any of its Subsidiaries, or any trustee, fiduciary or other person or
     entity holding securities under any employee benefit plan or trust of the
     Company or any of its Subsidiaries), together with all "affiliates" and
     "associates" (as such terms are defined in Rule 12b-2 under the Act) of
     such person, shall become the "beneficial owner" (as such term is defined
     in Rule 13d-3 under the Act), directly or indirectly, of securities of the
     Company representing 30% or more of either (A) the combined voting power of
     the Company's then outstanding securities having the right to vote in an
     election of the Company's Board of Directors ("Voting Securities") or (B)
     the then outstanding shares of Stock of the Company (in either such case
     other than as a result of an acquisition of securities directly from the
     Company); or

          (ii)   persons who, as of the Effective Date, constitute the Company's
     Board of Directors (the "Incumbent Directors") cease for any reason,
     including, without limitation, as a result of a tender offer, proxy
     contest, merger or similar transaction, to constitute at least a majority
     of the Board, provided that any person becoming a director of the Company
     subsequent to the Effective Date whose election or nomination for election
     was approved by a vote of at least a majority of the Incumbent Directors
     shall, for purposes of this Plan, be considered an Incumbent Director; or

     (iii)       the stockholders of the Company shall approve (A) any
     consolidation or merger of the Company or any Subsidiary where the
     shareholders of the Company, immediately prior to the consolidation or
     merger, would not, immediately after the consolidation or merger,
     beneficially own (as such term is defined in Rule 13d-3 under the Act),
     directly or indirectly, shares representing in the aggregate 80% or more of
     the voting shares of the corporation issuing cash or securities in the
     consolidation or merger (or of its ultimate parent corporation, if any),
     (B) any sale, lease, exchange or other transfer (in one transaction or a
     series of transactions contemplated or arranged by any party as a single
     plan) of all or substantially all of the assets of the Company or (C) any
     plan or proposal for the liquidation or dissolution of the Company.

     Notwithstanding the foregoing, a "Change of Control" shall not be deemed to
have occurred for purposes of the foregoing clause (i) solely as the result of
an acquisition of securities by the Company which, by reducing the number of
shares of Stock or other Voting Securities outstanding, increases (x) the
proportionate number of shares of Stock beneficially owned by any person to 30%
or more of the shares of Stock then outstanding or (y) the proportionate voting

                                       8
<PAGE>

power represented by the Voting Securities beneficially owned by any person to
30% or more of the combined voting power of all then outstanding Voting
Securities; provided, however, that if any person referred to in clause (x) or
            --------  -------
(y) of this sentence shall thereafter become the beneficial owner of any
additional shares of Stock or other Voting Securities (other than pursuant to a
stock split, stock dividend, or similar transaction), then a "Change of Control"
shall be deemed to have occurred for purposes of the foregoing clause (i).

Further, notwithstanding the foregoing, a "Change of Control" shall not be
deemed to have occurred for purposes of the foregoing clause (i) solely as the
result of the confirmation of a plan of reorganization under Chapter 11 of the
United States Bankruptcy Code pursuant to which the creditors of the Company
become the beneficial owners, directly or indirectly, of securities of the
Company representing 30% or more of either (A) the combined voting power of the
Company's Voting Securities or (B) the then outstanding shares of Stock of the
Company.

                                       9
<PAGE>

                                   EXHIBIT B

                                Form of Release
                                ---------------

     In exchange for the amounts described in the Severance Compensation
Agreement dated as of _________, 2001 and other good and valuable consideration,
the receipt of which is hereby acknowledged, Executive and his representatives,
agents, estate, heirs, successors and assigns, without limitation, hereby
irrevocably and unconditionally release and forever discharge the Company, its
predecessors, successors, parents, subsidiaries, divisions, affiliates, assigns,
and its and their current and former officers, agents, directors, supervisors,
employees, representatives, successors and assigns, and all persons acting by,
through, under, or in concert with, any of them, from any and all charges,
complaints, claims, suits, contracts, causes of action, debts, sums of money,
controversies, agreements, promises, damages, and liabilities of any kind or
nature whatsoever, both at law and equity, known or unknown, suspected or
unsuspected (hereinafter referred to as "claim" or "claims") arising from
conduct occurring up to and through the date of this release, including, without
limitation, any claims incidental to or arising out of Executive's employment
with the Company or the termination thereof. This release is intended by the
parties to be all encompassing and to act as a full and total release of any
claims, whether specifically enumerated herein or not, that Executive has, may
have or has had, that exist or ever have existed, on or prior to the date of
this Agreement, including, but not limited to, any claims based upon any federal
or state law or regulation dealing with either employment or employment
discrimination such as those laws or regulations concerning discrimination on
the basis of age, race, color, religion, creed, sex, sex harassment, sexual
orientation, national origin, ancestry, marital status, handicap or physical
disability, mental disability, medical condition or status as a disabled or
Vietnam-era veteran, veteran status or any military service or application for
military service; any contract, whether oral or written, express or implied; any
tort; or common law.

If applicable:

Waiver of Rights and Claims Under the Age Discrimination in Employment Act of
-----------------------------------------------------------------------------
1967.
------

     Since Executive is 40 years of age or older, Executive has been informed
and agrees that Executive:

     (a)  has or may have specific rights and/or claims under the Age
Discrimination in Employment Act ("ADEA") of 1967;

     (b)  is, in consideration for the amounts and benefits described in the
Severance Compensation Agreement dated _______, 2001, specifically waiving such
rights and/or claims he might have against the Company, its predecessors,
successors, parents, subsidiaries, divisions, affiliates, assigns, and its and
their current and former officers, agents, directors, supervisors, employees,
representatives, successors and assigns, and all persons acting by, through,
under, or in concert with any of them, to the extent such rights and/or claims
arose prior to the date this release was executed;

                                       10
<PAGE>

     (c)  understands that rights or claims under ADEA which may arise after the
date this release is executed are not waived by him;

     (d)  was advised when presented by the Company with the original draft of
this release that he had at least 21 days within which to consider this release;
this 21-day review period will not be affected or extended by any revisions
which might be made to this release;

     (e)  has been advised to consider the terms of this release carefully and
of his right to consult with or seek advice from an attorney of his choice or
any other person of his choosing prior to executing this release and has not
been subject to any undue or improper influence interfering with the exercise of
his free will in deciding whether to execute this release;

     (f)  has carefully read and fully understands all of the provisions of this
release, and he knowingly and voluntarily agrees to all of the terms set forth
in this release; and

     (g)  after signing this release, Executive may revoke this release for a
period of seven (7) days following said execution. The release shall not become
effective or enforceable under this revocation period has expired.

                                       11

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