One wearing medal on the way out? (5)
I believe the answer is:
going
'on the way out?' is the definition.
(I've seen this before)
'one wearing medal' is the wordplay.
'one' becomes 'i' (Roman numeral).
'wearing' means one lot of letters goes inside another.
'medal' becomes 'gong' (informal term for a medal or prize).
'i' inserted into 'gong' is 'GOING'.
(Other definitions for going that I've seen before include "Condition, of course" , "Ground condition for horse racing" , "Disappearing" , "on the way out" , "in action" .)