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                                                                  EXHIBIT 10(m)


                               FIRST AMENDMENT TO
                              EMPLOYMENT AGREEMENT

This First Amendment to the Employment Agreement between The First Years Inc.
(the "Company") and Benjamin Peltz ("Peltz"), dated March 23, 1995 (the
"Agreement") is made this 16th day of January 1997.

In consideration of the mutual covenants hereinafter set forth, the parties
agree to amend the Agreement as follows:

1.   Paragraph 11 is deleted in its entirety and is replaced with the following
     paragraph:

    "SEVERANCE.

     (a) If, at the expiration of this Agreement, the parties do not enter into
     a new employment or severance agreement, or if Peltz's employment with the
     Company is terminated during the Term by either party for any reason (other
     than Death, Disability, or Cause as defined in this Agreement), then the
     Company will continue to pay Peltz his Base Salary and provide the Benefits
     then in effect for twenty-four (24) months, reduced by the amount, if any,
     that Peltz earns from other employment during such 24-month period,
     provided Peltz continues to comply with his obligations under Paragraphs 7,
     8, 9, and 10 of this Agreement during such 24-month period. Peltz will not
     be entitled to receive any Annual Bonus for such 24-month period. Peltz
     will not be obligated to seek employment.

     (b) If at the expiration of this Agreement, the parties do not enter into a
     new employment or severance agreement, or if Peltz's employment with the
     Company is terminated during the Term for any reason (other than for Death
     or Cause as defined in this Agreement), the Company will continue to pay
     the premiums for and provide coverage to Peltz under the same group
     medical and dental plans as the Company provides to the Company's
     executive officers, and the same medical reimbursement plan being provided
     to Mr. Peltz and certain other senior executive officers as of the date of
     this Amendment, until Mr. Peltz is eligible for and entitled to coverage
     under Medicare; provided that the Company can amend, alter or change such
     plans as long as such benefits to Peltz under such new plans are no less
     than those commensurate with Peltz's position at the time of his
     termination of employment; provided that to the extent such medical
     benefits cannot be provided to Peltz under the terms of such plans or the
     plans

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     cannot be so amended in any manner not adverse to the Company, the Company
     shall pay to Peltz, on an after-tax basis, an amount necessary for Peltz to
     acquire comparable benefits from an independent insurance carrier; provided
     further, that the obligations of the Company under this clause 11 (b) shall
     be terminated if, at any time after the date of his termination of
     employment with the Company, Peltz is employed by or is otherwise
     affiliated with a party that offers comparable health benefits to Peltz;
     and provided he continues to comply with his obligations under Paragraphs
     7, 8, 9, and 10.

IN WITNESS WHEREOF, the parties have executed this First Amendment this 16th day
of January, 1997.

                                            THE FIRST YEARS INC.

                                            By: /s/ Ronald J. Sidman
                                                --------------------------------
                                                    Ronald J. Sidman, President


                                                /s/ Benjamin Peltz
                                                --------------------------------
                                                    Benjamin Peltz