<PAGE>   1
                                                                   EXHIBIT 10(f)
                              THE FIRST YEARS INC.

                      1993 STOCK OPTION PLAN FOR DIRECTORS
                      (as amended through October 1, 1999)


1.   PURPOSE

The purpose of this 1993 Stock Option Plan for Directors (the "Plan") is to
advance the interests of The First Years Inc. (the "Company"), by enhancing the
ability of the Company to attract and retain directors who are in a position to
make significant contributions to the success of the Company and to reward
directors for such contributions through ownership of shares of the Company's
common stock (the "Stock").

2.   ADMINISTRATION

The Plan shall be administered by a committee (the "Committee") of the Board of
Directors (the "Board") of the Company designated by the Board for that purpose.
Unless and until a Committee is appointed, the Plan shall be administered by the
entire Board, and references in the Plan to the "Committee" shall be deemed
references to the Board. The Committee shall have authority, not inconsistent
with the express provisions of the Plan (a) to issue options granted in
accordance with the formula set forth in this Plan to such directors as are
eligible to receive options and to amend the formula from time to time; (b) to
issue options on a discretionary basis to such eligible directors as the
Committee shall choose; (c) to prescribe the form or forms of instruments
evidencing options and any other instruments required under the Plan and to
change such forms from time to time; (d) to adopt, amend and rescind rules and
regulations for the administration of the Plan and to waive any conditions of
any award; and (e) to interpret the Plan and to decide any questions and settle
all controversies and disputes that may arise in connection with the Plan. Such
determinations of the Committee shall be conclusive and shall bind all parties.

3.   EFFECTIVE DATE AND TERM OF THE PLAN

The Plan shall become effective on the date on which the Plan is approved by the
Board of Directors of the Company, subject

<PAGE>   2


to approval by the stockholders of the Company. No option shall be granted under
the Plan after the completion of ten years from the date on which the Plan was
adopted by the Board, but options previously granted may extend beyond that
date.

4.   SHARES SUBJECT TO THE PLAN

(a)  NUMBER OF SHARES. Subject to adjustment as provided in Section 4(c), the
     aggregate number of shares of Stock that may be delivered upon the exercise
     of options granted under the Plan shall be 560,000. If any option granted
     under the Plan terminates without having been exercised in full, the number
     of Shares of Stock as to which such option was not exercised shall be
     available for future grants within the limits set forth in this Section
     4(a). If any Stock purchased on exercise of an Option is paid for through
     the delivery of shares of Stock or if shares of Stock are held back by the
     Company, or delivered to the Company, to satisfy a tax withholding
     requirement on an Award, the number of shares of Stock delivered to or held
     back by the Company shall not be available for future grants.

(b)  SHARES TO BE DELIVERED. Shares delivered under the Plan shall be authorized
     but unissued Stock or, if the Board so decides in its sole discretion,
     previously issued Stock acquired by the Company and held in treasury. No
     fractional shares of Stock shall be delivered under the Plan.

(c)  CHANGES IN STOCK. In the event of a stock dividend, stock split or
     combination of shares, recapitalization or other change in the Company's
     capital stock, after the effective date of the Plan, the number and kind of
     shares of stock or securities of the Company subject to options then
     outstanding or subsequently granted under the Plan, the maximum number of
     shares or securities that may be delivered under the Plan, the exercise
     price, and other relevant provisions shall be appropriately adjusted by the
     Committee, whose determination shall be binding on all persons.

5.   ELIGIBILITY FOR OPTIONS

Directors eligible to receive options ("Eligible Directors") shall be those
directors of the Company who are not employees


<PAGE>   3


of the Company or of any subsidiary of the Company; provided that the Committee
may in its discretion choose to designate as an Eligible Director, for some or
all purposes of this Plan, a director of a subsidiary of the Company, whether or
not employed by the Company or a subsidiary.

6.   TERMS AND CONDITIONS OF OPTIONS

(a)  NUMBER OF OPTIONS.

     (i) Each Eligible Director, upon his or her election to the Board, shall be
     awarded an option covering 20,000 shares of Stock, which will become fully
     vested in three equal annual installments commencing on the first
     anniversary of such election. On the date of each annual meeting, following
     the election of directors, each Eligible Director who served on the Board
     for the entire previous twelve months shall be awarded an option covering
     6,000 shares of Stock; each Eligible Director who did not serve on the
     Board for the entire previous twelve months shall be awarded an option
     covering a pro-rated number of shares of Stock equal to 500 multiplied by
     the number of months served on the Board during the previous twelve months.
     The options awarded under this paragraph (a)(i) shall be collectively
     referred to as the "Formula Options."

     (ii) The Committee shall also have the authority under the Plan to award
     options to purchase stock to Eligible Directors in such amounts and on such
     terms not inconsistent with this Plan, as it shall determine at the time of
     the award. The options awarded under this paragraph (a)(ii) shall be
     collectively referred to as the "Discretionary Options."

(b)  EXERCISE PRICE. The exercise price of each option shall be 100% of the fair
     market value per share of the Stock at the time the option is granted. In
     no event, however, shall the option price be less, in the case of an
     original issue of authorized stock, than par value per share. For purposes
     of this paragraph, (A) the fair market value of a share of Stock on any
     date shall be the Closing Price on such day or, if there were no Closing
     Price on such day, the latest day prior thereto on which there was a
     Closing Price; and (B) the "Closing Price" of the Stock on any business day
     will be the last sale price as reported on the principal market on which


<PAGE>   4

     the Stock is traded or, if no last sale is reported, then the mean between
     the highest bid and lowest asked prices on that day.

(c)  DURATION OF OPTIONS. The latest date on which an option may be exercised
     (the "Final Exercise Date") shall be the date which is ten years from the
     date the option was granted.

(d)  EXERCISE OF OPTIONS.

     (i)    Each Formula Option shall become exercisable to the full extent of
            all shares covered thereby immediately upon the date of the grant;
            provided, however, that the options covering 20,000 shares of Stock
            awarded upon an Eligible Director's initial election shall become
            exercisable in three equal annual installments commencing on the
            first anniversary of such election.

     (ii)   Each Discretionary Option shall become exercisable at such time or
            times as the Committee shall determine.

     (iii)  Any exercise of any option shall be in writing, signed by the proper
            person and delivered or mailed to the Company, accompanied by (1)
            any documentation required by the Committee and (2) payment in full
            for the number of shares for which the option is exercised.

     (iv)   The Committee shall withhold from the number of shares otherwise
            issuable to the individual upon exercise a number of shares with a
            fair market value equal to any federal, state, or local withholding
            tax requirements due upon the exercise of the option.

     (v)    If an option is exercised by the executor or administrator of a
            deceased director, or by the person or persons to whom the option
            has been transferred by the director's will or the applicable laws
            of descent and distribution, the Company shall be under no
            obligation to deliver Stock pursuant to such exercise until the


<PAGE>   5

            Company is satisfied as to the authority of the person or persons
            exercising the option.

(e) PAYMENT FOR AND DELIVERY OF STOCK. Stock purchased under the Plan shall be
paid for as follows: (i) in cash or by check (acceptable to the Company in
accordance with guidelines established for this purpose), bank draft, or money
order payable to the order of the Company; (ii) through the delivery of shares
of Stock (which, in the case of shares of Stock acquired from the Company, have
been outstanding for at least six months) having a fair market value on the last
business day preceding the date of exercise equal to the purchase price; (iii)
by delivery of an unconditional and irrevocable undertaking by a broker to
deliver promptly to the Company sufficient funds to pay the exercise price; or
(iv) by any combination of the permissible form of payment; provided that if the
Stock delivered upon exercise of the option is an original issue of authorized
Stock, at least so much of the exercise price as represents the par value of
such Stock shall be paid other than with a personal check or promissory note of
the option holder.

An Option Holder shall not have the rights of a stockholder with regard to
awards under the Plan except as to Stock actually received by him or her under
the Plan.

The Company shall not be obligated to deliver any shares of Stock (a) until, in
the opinion of the Company's counsel, all applicable federal and state laws and
regulations have been complied with; (b) if the outstanding stock is at the time
listed on any stock exchange, until the shares to be delivered have been listed
or authorized to be listed on such exchange upon official notice of issuance;
and (c) until all other legal matters in connection with the issuance and
delivery of such shares have been approved by the Company's counsel. If the sale
of Stock has not been registered under the Securities Act of 1933, as amended,
the Company may require, as a condition to exercise of the option, such
representations or agreements as counsel for the Company may consider
appropriate to avoid violation of such Act and may require that the certificates
evidencing such Stock bear an appropriate legend restricting transfer.

(f) NONTRANSFERABILITY OF OPTIONS. Except as otherwise specified by the
Committee, no option may be transferred other than by will, by the laws of
descent and distribution, or to immediate family members as defined in Rule
16a-1(e)

<PAGE>   6


under the Securities and Exchange Act of 1934, to a trust for the benefit of
immediate family members, or to partnerships and corporations whose sole equity
owners are immediate family members, and during a director's lifetime an option
may be exercised only by him or her, or by a valid transferee under this Section
6(f).

(g) DEATH. Upon the death of any Eligible Director granted options under this
Plan, unless the Committee determines otherwise, all options not then
exercisable shall terminate. All options held by the director that are
exercisable immediately prior to death may be exercised by his or her executor
or administrator, or by the person or persons to whom the option is transferred
by will or the applicable laws of descent or distribution, at any time within
one year after the director's death (subject, however, to the limitations of
Section 6(c) regarding the maximum exercise period for such option). After
completion of that one-year period, such options shall terminate to the extent
not previously exercised.

(h) OTHER TERMINATION OF STATUS OF DIRECTOR. Except as the Committee may
otherwise specify, if a director's service with the Company terminates for any
reason other than death, all options held by the director that are not then
exercisable shall terminate. Options that are exercisable on the date of
termination shall continue to be exercisable for a period of one year (subject
to Section6(c)). After completion of that one-year period, such options shall
terminate to the extent not previously exercised, expired or terminated.

(i) MERGERS, ETC. In the event of a consolidation or merger in which the Company
is not the surviving corporation (other than a consolidation or merger in which
the holders of Stock of the Company acquire a majority of the voting stock of
the surviving corporation) or which results in the acquisition of substantially
all the Company's outstanding Stock by a single person or entity or by a group
of persons and/or entities acting in concert, or in the event of a sale or
transfer of substantially all of the Company's assets or a dissolution or
liquidation of the Company, all options hereunder will terminate; provided that
20 days prior to the effective date of any such merger, consolidation, sale,
dissolution, or liquidation, all options outstanding hereunder that are not
otherwise exercisable shall become immediately exercisable.

<PAGE>   7


Notwithstanding the foregoing, in the event that a transaction covered by this
Section 6(i) is a merger or consolidation intended to qualify as a pooling of
interests for accounting purposes, then the acquiring or surviving corporation
shall assume, or otherwise provide replacement options for, all options
outstanding under this Plan, with such adjustments to the number of shares
covered by such option and the exercise price thereof as may be necessary to
reflect the exchange ratio provided for in the merger or consolidation. Such
substitute options shall otherwise be on terms and conditions substantially
equivalent to those set forth in this Plan, shall be immediately exercisable
and, except as to Eligible Directors who become directors of the acquiring or
surviving corporation, shall terminate on the 180th day following the
consummation of the merger or consolidation. Options held by Eligible Directors
who become directors of the acquiring or surviving corporation shall be
governed, mutatis mutandis, by the provisions of this Plan and the agreement
evidencing the option surrendered in substitution.

7.   EFFECT, DISCONTINUANCE, CANCELLATION, AMENDMENT, TERMINATION AND
     EFFECTIVENESS

Neither adoption of the Plan nor the grant of options to a director shall affect
the Company's right to grant to such director options that are not subject to
the Plan, to issue to such directors Stock as a bonus or otherwise, or to adopt
other plans or arrangements under which Stock may be issued to directors.

The Committee may at any time terminate the Plan as to any further grants of
options. The Committee may at any time or times amend the Plan for any purpose
which may at the time be permitted by law.