<PAGE>   1
                                                        EXHIBIT 10.15
                                                        -------------

                          [EKCO GROUP, INC. LETTERHEAD]

                                                        September 28, 1995

Mr. Richard Corbin
6 Acorn Drive
Andover, Massachusetts  01810

Dear Dick:

This letter will serve to confirm the agreement which you and Ekco Group, Inc.
including all of of its subsidiaries and affiliates (together they are
hereinafter referred to as "EKCO"), reached with respect to the severance
arrangement occasioned by your voluntary resignation as an employee and officer
of EKCO and the termination of the employment agreement between you and EKCO
dated as of May 20, 1994 (together with all amendments are hereinafter referred
to as the "Employment Agreement").

         The following constitutes the agreement:

1.       You hereby voluntarily resign from your positions as Executive Vice
         President Marketing and Sales of EKCO as well as any and all other
         positions you now hold either as an officer or director of EKCO and any
         of its subsidiaries and affiliates. Your resignation will be effective
         as of August 31, 1995.

2.       The severance arrangements recited herein shall be in lieu of and take
         the place of any and all rights which you may have pursuant to the
         Employment Agreement, EKCO severance, vacation accrual and other types
         of employment policies, and any rights you may have pursuant to any
         federal, state or local laws, statutes, or ordinances and the
         regulations promulgated thereunder, relating in any way to your
         employment with EKCO, the termination of such employment or severance
         or compensation benefits incident to either.

3.       EKCO shall pay you from and after September 1, 1995, on a bi-weekly
         basis, a gross amount equal to $9730.77, through February 2, 1996. On
         March 1, 1996 EKCO shall pay you in a lump sum $181,096.15 less
         $3,744.60 paid by EKCO on your behalf to the Royal Maccabees Life
         Insurance Company for your disability policy for a total of
         $177,351.55. These payments are based upon a one year severance of
         salary at $253,000 plus a bonus of $40,000. Furthermore, EKCO shall pay
         you the amount accrued and not theretofore paid to you for vacation
         time properly accrued but not used by you prior to August 31, 1995 in
         the amount of 133.29 hours for a gross amount of $16,212.06. EKCO will
         also pay you $1,087.69, the amount attributable to your election to
         exchange your 1995 salary increase for the period July 1, 1995 through
         August 31, 1995 for shares of restricted stock. All such amounts shall
         be paid to you with all required deductions and withholdings made,
         except as may otherwise be provided herein. Furthermore, through the
         earlier of August 31, 1996 or when you secure employment either as an
         employee or as an independent contractor (hereinafter the "Reemploymnet
         Date), EKCO shall provide you with continuation of the medical, dental
         and life insurance benefits currently in effect (but not disability
         insurance of any kind). Currently you are required to contribute under
         your individual policy $7.00 on a bi-weekly basis. It is your
         responsibility to continue to make those payments to EKCO. Should any
         changes be effected on this coverage such that the benefits are limited


                                                                          Page 1
<PAGE>   2
         or the contribution cost to you increases you agree to accept such
         changes provided that they are being applied to you on a
         non-discriminatory basis.

4.       From August 31, 1995 forward, you will not be eligible to participate
         in the Ekco Group, Inc. Employee Stock Purchase Program, the EKCO
         Corporation 401(K) Plan and the Ekco Group, Inc. disability insurance
         policy and benefits.

5.       The restrictions on exercising the options detailed below to acquire
         Ekco Group, Inc. common stock shall lapse as of August 31, 1996. Please
         contact Linda Millman, Esq. if you desire to exercise any of the
         options detailed below prior to that date.

         OPTIONS:

         29,288 shares at an option price of $6.50 per share (January 3, 1995
         issue date)
         30,000 shares at an option price of $7.00 per share (May 5, 1994 issue
         date)

6.       You have purchased 48,255 shares of EKCO common stock pursuant to
         EKCO'S restricted stock purchase plans. Of this amount EKCO agrees not
         to repurchase from you 9,602 shares of EKCO common stock. The
         remainder, totalling 38,653 shares of EKCO common stock will be
         repurchased by EKCO from you for the original purchase price of $.10
         per share or a total of $3,865.30 on the following schedule:

                  A.       29,051 shares on or about September 11, 1995 at a
                           price of $2,905.10, and

                  B.       9,602 shares on the Reemployment Date at a price of
                           $960.20. However, if you do not secure employment as
                           an employee or independent contractor on or before
                           August 31, 1996 EKCO shall not repurchase such shares
                           from you.

         Pursuant to Federal tax regulations EKCO is required to withhold no
         less than 28%, for Federal tax purposes, of the value as of September
         1, 1995 of the restricted stock which is not being repurchased. That
         amount is $17,206.78. You agree to make such tax withholding payment to
         EKCO no later than October 10, 1995. In lieu of receiving the purchase
         price defined immediately above and the payment of vacation accrual
         defined in paragraph 3 above, such amounts may be used as an offset
         against the monies which will be owed by you to EKCO for Federal tax
         withholding due to the lapsing of restrictions on the restricted stock.
         Please confirm to EKCO, prior to October 10, 1995, in writing, the
         manner in which you will satisfy this obligation.

7.       You will return to EKCO on or before the Reemployment Date, in
         substantially the same condition as it is in today, normal wear and
         tear excepted, the Cadillac Seville automobile owned by EKCO which you
         are currently utilizing. In lieu of returning the automobile you may
         purchase it at any time prior to August 31, 1996 by tendering to EKCO
         80% of the then wholesale ("Blue Book") value of the automobile. Please
         give us 10 business days notice of your intention to purchase the
         automobile.

8.       You shall return to EKCO on or before August 31, 1996, in the condition
         that they are in now, reasonable wear and tear excepted, the Panasonic
         facsimile machine and AST Power Executive personal lap top computer
         which are owned by EKCO and are currently in your possession. You
         represent that on or before August 31, 1995 you returned to EKCO all
         business records and documents and all copies thereof relating to any
         of


                                                                          Page 2
<PAGE>   3
         EKCO's activities which were in your possession and which were not
         otherwise public documents.

9.       You represent that you have returned to EKCO on or before August 31,
         1995, any and all credit cards, travel cards, travel letters, telephone
         credit cards, and the like then currently in your possession which
         belong to EKCO. You are further directed and agree not to use any of
         the above-mentioned cards or credit devices from that day forward.
         Effective August 31, 1995 any charges to the telephone numbers (508)
         989-3457 (mobile phone) and (508) 470-4744 (fax phone) shall be on your
         account and not for the account of EKCO. Please make arrangements with
         the appropriate telephone companies to receive their billings directly.
         Any charges you make to any of the above, on or after August 31, 1995,
         will be your personal obligation and may be deducted by EKCO from the
         amounts owed to you hereunder.

10.      EKCO shall make available to you the services of a secretary to assist
         you in obtaining employment. On a reasonable and non-interfering basis
         secretarial services will include telephone answering, typing and
         assistance in preparing and mailing related business correspondence in
         your efforts to secure employment.

11.      Reference is made to "Section 8, Confidentiality and Non Competition",
         in the Employment Agreement. You hereby reaffirm and agree to the
         obligations you assumed pursuant thereto for the period running to and
         through August 31, 1996.

12.      You, on the one hand, and EKCO, on the other hand, acknowledge to one
         another the obligation to continue the relationship between the two in
         a fair and responsible manner. As a result, you and EKCO agree not to
         intentionally disparage or damage the other. EKCO acknowledges your
         voluntary resignation and agrees, to the extent inquiries are made with
         respect to your termination, to confirm such fact.

13.      You hereby represent that, except for the continuing obligations of
         EKCO specifically described in this letter, there are no claims which
         may or will be made against EKCO, their employees, officers, directors
         and stockholders and any and all of their subsidiaries and affiliates
         arising out of any events which occurred prior to today's date.

14.      You irrevocably and unconditionally release, remise, and forever
         discharge EKCO, their affiliates and their officers, directors,
         employees, agents, owners and attorneys on account of any claim which
         you may have on the date of this agreement, including, without
         limitation, any claim arising from or related to your employment
         relationship with EKCO or the termination thereof including, without
         limitation, claims for discrimination under the Massachusetts Fair
         Employment Practices Statute, M.G.L. c. 151B (as amended) (including,
         but not limited to, claims for discrimination based upon age), the Age
         Discrimination in Employment Act (as amended), 29 U.S.C. section 621
         et seq., the Employee Retirement Income Security Act (as amended), the
         Americans with Disabilities Act, wrongful discharge, breach of express
         or implied contract, breach of a covenant of good faith and fair
         dealing, violation of public policy, defamation, interference with
         contractual relations, intentional or negligent infliction of emotional
         distress, misrepresentation, deceit, fraud, negligence, or any other
         statutory or common law claim under any state or federal law.

15.      The parties agree that you shall have until October 21, 1995 to accept
         the terms of this agreement by signing below, and you are advised to
         consult an attorney before signing. In addition, should you accept the
         terms of this agreement, you may rescind your assent to this agreement
         if, within seven (7) days from the date you sign this agreement, you

         
                                                                          Page 3
<PAGE>   4
         deliver in writing to Jeffrey A. Weinstein at Ekco Group, Inc., 98 Spit
         Brook Road, Nashua, NH, a written notice of recision. To be effective,
         such recision must be: (1) postmarked within the seven-day period; (2)
         properly addressed to Ekco Group, Inc. 98 Spit Brook Road, Suite 102,
         Nashua, New Hampshire 03062, Attention Jeffrey A. Weinstein; and (3)
         sent by certified mail, return receipt requested. You and EKCO, will
         execute a mutual, general release in the form attached hereto as
         Exhibit A.

16.      This agreement constitutes the entire agreement between you and EKCO
         with respect to your separation. No variations or modifications hereof
         shall be deemed valid unless reduced to writing and signed by the
         parties hereto.

17.      This Agreement is made pursuant to the laws of the State of New
         Hampshire, and questions as to its validity and effect shall be
         governed thereby. Any provision of this Agreement which is prohibited
         or unenforceable in accordance with such laws shall be ineffective as
         to the extent of such prohibition and unenforceability without
         invalidating the remaining provisions hereof.

If the above accurately represents our agreement, please indicate your
acknowledgement thereof by signing your name below where indicated.


<TABLE>
<S>                                                  <C>
ACCEPTED AND AGREED:                                 EKCO GROUP, INC.
                                                     ON BEHALF OF ITSELF AND ITS
                                                     SUBSIDIARIES AND AFFILIATES

/S/RICHARD CORBIN                                    By: /S/DONATO A. DENOVELLIS
-------------------------                               ------------------------
Richard Corbin
                                                     Title: EVP/CFO
                                                            --------------------

</TABLE>


                                                                          Page 4