Document:

EX-10.2

 Exhibit 10.2 

March 3, 2015 
 Bryan Stockton 

[Personal Address Omitted] 
 Dear Bryan, 

This letter (this “Letter Agreement”) memorializes the terms and conditions of your separation of employment (the
“Separation”) with Mattel, Inc. (the “Company”) on January 25, 2015 (the “Termination Date”). 

Severance Benefits. For purposes of the Mattel, Inc. Executive Severance Plan (the “Severance Plan”) and the
participation letter relating to the Severance Plan, dated as of June 30, 2009, between you and the Company (the “Participation Letter”), the Separation is a Covered Termination (as defined in the Severance Plan) pursuant to
Section 2(e) thereof. In connection with the Separation, you will be entitled to the severance payments and benefits set forth in Section 3(b) of the Severance Plan, subject to your execution following the Termination Date of the release
(the “Release”) attached as Exhibit A of this Letter Agreement (and the Release becoming irrevocable within 55 days of the Termination Date). The Termination Date shall be the “Date of Termination” for all purposes of the
Severance Plan. 
 Full Agreement. This Letter Agreement, the Severance Plan, the Participation Letter, the Release and the Employee
Confidentiality and Inventions Agreement (effective May 1, 2012) (the “Confidentiality Agreement”) or any agreement superseding the Confidentiality Agreement (collectively, the “Agreements”) constitute the full
understanding of you and the Company with respect to the Separation. Without limiting the generality of the foregoing, you expressly acknowledge and agree that except as specifically set forth in the Agreements, you are not entitled to receive any
severance pay or benefits from the Company and its affiliates. 
 Governing Law. This letter shall be governed by and construed in
accordance with the laws of the State of California, without reference to principles of conflict of laws. The dispute resolution provisions of the Severance Plan shall apply to this Letter Agreement. 

Miscellaneous. This Letter Agreement may be amended, modified or changed only by a written instrument executed by you and the Company.
The captions of this Letter Agreement are not part of the provisions hereof and shall have no force or effect. This Letter Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of which together shall
constitute one and the same instrument. 

 
			
	Sincerely,
	
	Mattel, Inc.
		
	By:		 /s/ Alan Kaye

			Alan Kaye
			Executive Vice President & Chief Human Resources Officer

  

	
	Acknowledged and Agreed:
	
	 /s/ Bryan Stockton

	Bryan Stockton

  
 - 2 - 

 EXHIBIT A 

GENERAL RELEASE 
 OF ALL
CLAIMS 
 1. For valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned (the
“Participant”) does hereby on behalf of the Participant and the Participant’s successors, assigns, heirs and any and all other persons claiming through the Participant, if any, and each of them, forever relieve, release,
and discharge Mattel, Inc. (“Mattel”) and its respective predecessors, successors, assigns, owners, attorneys, representatives, affiliates, Mattel corporations, subsidiaries (whether or not wholly-owned), divisions, partners
and their officers, directors, agents, employees, servants, executors, administrators, accountants, investigators, insurers, and any and all other related individuals and entities, if any, and each of them (collectively, the “Released
Parties”), in any and all capacities from any and all claims, debts, liabilities, demands, obligations, liens, promises, acts, agreements, costs and expenses (including, but not limited to attorneys’ fees), damages, actions and
causes of action, of whatever kind or nature, including, without limiting the generality of the foregoing, any claims arising out of, based upon, or relating to the hire, employment, remuneration (including salary; bonus; incentive or other
compensation; vacation, sick leave or medical insurance benefits; or other benefits) or termination of the Participant’s employment with Mattel. 

2. This release (“Release”) includes a release of any rights or claims the Participant may have under the Age
Discrimination in Employment Act, which prohibits age discrimination in employment as to individuals forty years of age and older; the Older Workers Benefit Protection Act, which prohibits discrimination against older workers in all executive
benefits; Title VII of the Civil Rights Act of 1964, as amended in 1991, which prohibits discrimination in employment based on race, color, national origin, religion or sex; the California Fair Employment and Housing Act, which prohibits
discrimination based on race, color, religion, national origin, ancestry, physical or mental disability, medical condition, sex, pregnancy-related condition, marital status, age or sexual orientation; the Equal Pay Act, which prohibits paying men
and women unequal pay for equal work; the American with Disabilities Act, which prohibits discrimination against qualified individuals with disabilities; or any other federal, state or local laws or regulations which prohibit employment
discrimination, restrict an employer’s right to terminate the Participant, or otherwise regulate employment. This Release also includes a release by the Participant of any claims for breach of contract, wrongful discharge and all claims for
alleged physical or personal injury, emotional distress relating to or arising out of the Participant’s employment with Mattel or the termination of that employment; any claims under the WARN Act or any similar law, which requires, among other
things, that advance notice be given of certain work force reductions; and all claims under the Employee Retirement Income Security Act of 1974, such as claims relating to pension or health plan benefits. Notwithstanding anything else herein to the
contrary, this Release shall not affect claims that relate to: (i) Participant’s right to enforce the terms of the Mattel, Inc. Executive Severance Plan; (ii) any rights the Participant may have to indemnification from personal
liability in accordance with the applicable charter, bylaws or other governing documents of Mattel, to the extent such documents are not inconsistent with Section 2802 of the California Labor Code; (iii) the Participant’s right,

  
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if any, to government-provided unemployment benefits; (iv) the Participant’s vested rights under any of the Company’s retirement plans or
equity plans; (vi) any rights the Participant may have to COBRA benefits; or (vii) any rights or claims that the law does not permit the Participant to release. 

3. Notwithstanding any other provision of this Release, this Release does not apply to any rights or claims which arise after the execution of
this Release. 
 4. This Release covers both claims that the Participant knows about and those the Participant may not know about. The
Participant expressly waives all rights afforded by any statute (such as Section 1542 of the Civil Code of the State of California) which limits the effect of a release with respect to unknown claims. The Participant understands the
significance of the Participant’s release of unknown claims and the Participant’s waiver of statutory protection against a release of unknown claims (such as under Section 1542). Section 1542 of the Civil Code of the State of
California states as follows: 
 “A general release does not extend to claims which the creditor does not know or suspect to exist in
his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” 

Notwithstanding the provisions of Section 1542, the Participant expressly acknowledges that this Release is intended to include both claims that the
Participant knows about and those the Participant does not know or suspect to exist. 
 5. The Participant hereby represents and warrants
that he or she has not filed, initiated, or prosecuted (or caused to be filed, initiated, or prosecuted) any lawsuit, complaint, charge, action, compliance review, investigation, or proceeding with respect to any claim this Release purports to
waive, and the Participant covenants never to do so in the future, whether as a named plaintiff, class member, or otherwise. The Participant understands that this Release does not require him/her to withdraw, or prohibit him/her from filing, a
charge with any government agency (such as the U.S. Equal Employment Opportunity Commission), as long as the Participant does not personally seek reinstatement, damages, remedies, or other relief as to any claim that the Participant released by
signing this Release, as the Participant has waived any right the Participant might have had to any of those things. 
 If the Participant
is ever awarded or recovers any amount as to a claim the Participant purported to waive in this Release, the Participant agrees that the amount of the award or recovery shall be reduced by the amounts he or she was paid under this Plan, increased
appropriately for the time value of money, using an interest rate of 10% per annum. The Participant covenants never directly or indirectly to bring or participate in an action against any Released Party under California Business &
Professions Code Section 17200 or under any other unfair competition law of any jurisdiction. 
 6. The provisions of this Release are
severable, and if any part of it is found to be unenforceable, the other paragraphs shall remain fully valid and enforceable. This Release shall be construed in accordance with its fair meaning and in accordance with the laws of the State of
California, without regard to conflicts of laws principles thereof. 

  
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 7. The Participant is strongly encouraged to consult with an attorney before signing this
Release. The Participant acknowledges that the Participant has been advised of this right to consult an attorney and the Participant understands that whether to do so is the Participant’s decision. The Participant acknowledges that Mattel has
advised the Participant that the Participant has twenty-one (21) days in which to consider whether the Participant should sign this Release and has advised the Participant that if the Participant signs this Release, the Participant has seven
(7) days following the date on which the Participant signs the Release to revoke it and that the Release will not be effective until after this seven-day period had lapsed. The Participant has been advised that, in the event the Participant
revokes the Release within seven (7) days of signing it, the Participant will not be entitled to receive the amounts that are being provided to the Participant in exchange for the Release. The Participant acknowledges that (a) the
Participant took advantage of the 21-day consideration period to consider the Release before signing it, to the extent the Participant deemed appropriate; (b) the Participant carefully read the Release before signing it; (c) the
Participant fully understands the Release; (d) the Participant is entering into the Release voluntarily; and (e) the Participant is receiving valuable consideration in exchange for Participant’s execution of the Release that
Participant would not otherwise be entitled to receive. 

  
 A-3 

 PLEASE READ THIS AGREEMENT CAREFULLY. IT CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 

 

					
	Date: March 10, 2015				 /s/ Alan Kaye

					Mattel, Inc.
			
	Date: March 10, 2015				 /s/ Bryan Stockton

					Bryan Stockton

  
 A-4EX-10.3

 Exhibit 10.3 

February 19, 2015 
 Mr. Christopher Sinclair 

c/o Mattel, Inc. 
 333 Continental Boulevard 

El Segundo, California 90245 
 Dear Chris, 

We are pleased to extend you an offer of employment with Mattel HQ, Inc. for the position of Chairman of the Board of Directors (“Board”) of Mattel,
Inc. (“Mattel” or the “Company”) and Interim Chief Executive Officer of Mattel, with a hire date of January 25, 2015. As the Interim Chief Executive Officer, you will report directly to the Board. This letter provides an
overview of some of the compensation and benefit offerings that will be available to you as Interim Chief Executive Officer. 
 BASE SALARY 

Your monthly base salary will be $200,000, payable on a biweekly basis less applicable federal and state taxes and other required withholdings. As this is an
exempt position, you are not eligible for overtime pay. Our workweek is Monday through Sunday, and paychecks are issued every other Friday for the previous two workweeks. You will not be compensated separately for your position as Chairman of the
Board. 
 MATTEL INCENTIVE PLAN 
 You will not be
eligible to participate in the Mattel Incentive Plan. 
 LONG-TERM INCENTIVE PROGRAM 

You will not be eligible to participate in the Long-Term Incentive Program. 

SPECIAL EQUITY GRANT 
 You will receive a special equity
grant in the form of restricted stock units (“RSUs”) with a grant value of $1,500,000 and a grant date of January 29, 2015. The RSU grant will vest 100% on the first anniversary of the grant date, subject to your continued service
with the Company through the vesting date. The grant dollar value of the RSUs will be converted into a number of RSUs by dividing the grant dollar value by the closing stock price on the grant date. If the RSUs vest, you will receive shares of
Mattel stock, less applicable federal and state taxes and other required withholdings. If and when cash dividends are declared by Mattel, you will receive dividend equivalents, currently paid quarterly through payroll, based on your unvested RSUs.

 Please note this is a summary of your equity grant, and you will be required to sign the equity grant agreement
that sets forth the terms and conditions that govern your equity grant. 
 ANNUAL EQUITY GRANTS 

You will not be eligible to participate in the annual equity grant program. 

SPECIAL TRANSITION/MOBILITY ALLOWANCE 
 You will receive a
special monthly transition/mobility allowance in the amount of $60,000, less applicable federal and state taxes and other required withholdings, payable on the first paycheck of each month. This allowance is intended to assist you with your
temporary living and commuting expenses while working on Company matters. 
 PERSONAL USE OF PRIVATE AIRCRAFT 

You will be eligible for periodic personal use of a private aircraft up to a maximum of 25 flight hours per year. 

EXECUTIVE BENEFITS & PERQUISITES 
 As an
executive, you will be eligible to participate in the Company’s executive benefits and perquisites; however, you will not be eligible to participate in the Supplemental Executive Retirement Plan or the Company’s Deferred Compensation and
PIP Excess Plan. 
 FINANCIAL COUNSELING 
 As a senior
executive, you are eligible to receive reimbursement from Mattel of up to $10,000 per year, less applicable federal and state taxes and other required withholdings, for financial counseling services through a company of your choice. 

SEVERANCE 
 You will not be eligible to participate in any
Company severance plan, program or arrangement. 

  
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 HEALTH & WELFARE 

The following is a brief outline of benefits in which you and your qualified dependents, if applicable, will be eligible to participate in as of your hire
date, with the exception of short & long-term disability insurance, which are available upon the successful completion of your first 90 days of employment. 
  

			
	Medical		Life Insurance
		
	Dental		Accidental Death & Dismemberment
		
	Vision		Business Travel Coverage
		
	Prescription		Short & Long-Term Disability

 In addition, the Company also offers a number of employee programs and services that are designed to create a healthy
lifestyle, build your financial future and enhance your work/life balance. 
 RETIREMENT/401(k) 

You are eligible to participate in the Company’s retirement program, the Mattel, Inc. Personal Investment Plan (PIP), which is
a 401(k) savings/retirement plan. The PIP offers both Company automatic and matching contributions in addition to employee voluntary contributions as outlined below: 
  

	 	•	 	Company Automatic Contributions: The Company will make automatic contributions to your account at 8% of your salary, based on your age. 

 

	 	•	 	Employee Contributions: The PlP allows for voluntary employee contributions. To help you get started, you will initially be automatically enrolled at 2% of your eligible compensation on a pre-tax basis, which
will be matched dollar-for-dollar by the Company. This contribution will begin automatically within about 45 days of your hire date. The PIP provides you the choice to increase this contribution up to 80% of your eligible compensation, subject to
IRS limitations. To receive the full Company Matching contribution, you will need to contribute 6%. Please note, you will have the opportunity to opt-out of the 2% pre-tax contribution before the first deduction from your paycheck.

  

	 	•	 	Company Matching Provision: The Company will match your contributions up to the first 6% of your eligible compensation in your PIP account as follows: 

 

	 	•	 	on a dollar-for-dollar basis up to 2% of your eligible compensation; and 

  

	 	•	 	on a fifty-cents-on-the-dollar basis for up to the next 4% of your eligible compensation. 

 You will receive a
PIP packet in the mail within two weeks of your first day of employment. This packet will provide additional details regarding your options for increasing, decreasing or cancelling your contribution, as well as the available investment offerings.

  
 3 

 GENERAL INFORMATION 

This offer letter is only a summary of your compensation and benefits. More details and plan provisions are provided in our Summary Plan
Descriptions, Plan Documents or program summaries, which govern and are subject to periodic modification and revision. You will receive specific benefit information and enrollment instructions in the mail. 

This offer letter supersedes any prior communications you may have had with Company employees and/or representatives, and reflects the entire understanding
between you and the Company, regarding the terms of employment being offered to you. No Company employee and/or representative has authority to make any promise related to this offer that is not contained in this letter and, by signing below, you
affirm that you have not signed this offer letter in reliance on any such promise. By signing below, you confirm that your negotiation, acceptance and/or performance of the terms of this offer does not violate any contract or arrangement you may
have with any third party. If the Company determines (in its sole discretion) that your confirmation may be inaccurate for any reason, it can be a basis for terminating your employment “with cause.” By signing below, you agree to
indemnify the Company against any claims that may be brought against the Company relating to any allegation that you violated any contract or arrangement between you and such third party. 

In addition, as a condition of your employment, you will need to sign an Employee Confidentiality and Inventions Agreement (in which you will be asked to
disclose all prior inventions, if any, that you own), certify that you will, at all times, comply with the Company’s Code of Conduct, and complete a Conflict of Interest Questionnaire. 

The terms of this offer letter do not imply employment for a definite period. This means that your employment will be at-will, and either you or the Company
can terminate it at any time, for any or no reason, with or without cause or advance notice. This at-will relationship cannot be changed by any statement, act, series of events, or pattern of conduct and can only be changed by an express, written
agreement signed by the Chief Human Resources Officer of Mattel. 
 Also, please note that as an executive of the Company, and an officer, you will be
considered an Insider for purposes of Mattel’s Insider Trading Policy and are subject to window period restrictions. This means that you are restricted to conducting transactions in Mattel stock ONLY during open window periods. Examples of such
transactions include sales of shares underlying a stock option (including sales of shares to generate cash to pay the exercise price) and changes in elections in the Mattel stock fund of Mattel’s 401(k) plan. For more information about the
Policy and its restrictions, you can access and/or obtain a copy of the Policy on Mattel’s Code of Conduct website. 
 Chris, we are sincerely pleased
to provide you with this letter detailing the terms of your position and look forward to a mutually beneficial arrangement. 

  
 4 

 Please review the terms contained herein and sign below to indicate your understanding and concurrence. Also,
note that I have enclosed two copies of the letter so that you can return a signed copy to me and retain one for your records. 
 If I can answer any
questions, please do not hesitate to call me. 
  

	
	Sincerely,
	
	 /s/ Michael J. Dolan

	Michael J. Dolan
	 Chairman Compensation Committee
 Mattel, Inc.
Board of Directors

  

			
	Agreed and Accepted:
		
	/s/ Christopher Sinclair		2/24/15
	Christopher Sinclair		Date

  
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