In Boston, Massachusetts, the Federal Bureau of Investigation (FBI) places Andrew Morenski (Jon Cryer), a 29-year-old stockbroker, under protective custody as he prepares to testify against the local gangster, Victor Kapados. Alongside several colleagues, Andrew serves as a crucial witness in a significant stock scam case. However, his anxiety grows while he waits, leading the FBI agents to take him to a diner for breakfast. What starts as a mundane outing quickly turns chaotic when a hit-man, played by Oliver Cotton (Oliver Cotton), storms in and opens fire, tragically killing one agent and injuring another. Although Andrew escapes unharmed, he flees for his life, pursued by the ruthless attacker.
Finding refuge by hitchhiking with a truck driver, Andrew finds himself in Topsail Bay, Delaware, where he reaches out to his Aunt Lucy ([Gretchen Cryer]), asking to meet at her workplace, the high school. To disguise his identity, he shaves his beard and dyes the sides of his hair blonde to adopt a punk look, trading his expensive Italian sports coat for a worn black pea coat. When he arrives at Topsail High School, the office staff mistakenly considers him a new student, prompting Andrew to adopt the alias "Maxwell Hauser," a name taken from a coffee can.
In a twist of fate, Andrew's fifteen-year-old cousin, Patrick Morenski (Keith Coogan), is in the same class. Initially oblivious to Andrew's real identity, Patrick eventually comes to accept him as a new friend without informing Aunt Lucy, who also fails to recognize him amidst the media frenzy following Andrew's disappearance. To shield her from the mob's potential inquiries, they opt to keep Lucy in the dark while Patrick allows Andrew to stay in the attic of their home.
As Andrew adjusts to his new life, a slip occurs when a birthday card to his grandmother falls from his pocket and is mailed by a waitress. In class, he challenges the teacher's portrayal of former President Richard Nixon, gaining the admiration of his classmates. Meanwhile, Ryan Campbell (Annabeth Gish) and her friend Chloe engage with Andrew, with Ryan showing a budding interest, much to the dismay of her jock boyfriend, Kevin O'Roarke (Tim Quill), who is running for student body president. Consequently, Andrew receives encouragement from fellow students to challenge Kevin as a presidential candidate, yet he hesitates, fearing the spotlight could reveal his secret.
In a heartwarming moment, Andrew visits Ryan at her home, charming her father after identifying a missed tax deduction, and the two go roller skating. Their connection deepens, with Ryan wanting to take things slow. As Andrew warms up to the idea of running for president and embracing his new life, the danger has not dissipated. Newspaper headlines announce another witness in the Kapados trial has been murdered, leaving Andrew as the sole survivor.
As tension escalates, a hit-man masquerading as an FBI agent tracks down Andrew's family, leading to the discovery of his whereabouts. During a date with Ryan, he must come clean about his past, which she initially finds shocking but ultimately supportive. The pressures mount as the hit-man identifies Andrew's presence on campus—his newfound election path could lead to greater peril.
Amidst the growing chaos, Andrew emerges as the victor in the student body presidential election, much to Kevin's dismay. Meanwhile, the hit-man, concealed within the auditorium rafters, prepares to finish the job. During a tense assembly, the principal announces Andrew as the winner, only for the hit-man's plot to be foiled when Ezzard ([Lou Walker]), the custodian, recognizes the threat. A struggle ensues, resulting in a grizzly showdown where Andrew and Kevin confront the hit-man, who meets his end in the fray.
After returning to Boston, Andrew's courage in testifying against Kapados ensures the mob leader's imprisonment. As part of his fresh start, he bids farewell to Patrick and his family, with the FBI offering him a new identity to safeguard against any remaining threats.
A year passes, and Ryan, now a student at the University of Iowa, encounters Andrew, who introduces himself as "Eddie Collins," now working as a resident advisor. Their reunion brings back memories, and despite the turmoil they've faced, they share a kiss, closing a chapter on the past while hinting at a hopeful future together.
