Document:

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                                                                   EXHIBIT 10.44

                             Grant Agreement for a
                          Non-Qualified Stock Option
                    under the Mattel 1996 Stock Option Plan

          This is an Option Agreement between Mattel, Inc. (the "Company") and
the individual (the "Option Holder") named in the Notice of Grant of Stock
Option (the "Notice) attached hereto as the cover page of this agreement.

Recitals

          The Company has adopted the Mattel 1996 Stock Option Plan (the "Plan")
for the granting to selected employees of options to purchase shares of Common
Stock of the Company.  In accordance with the terms of the Plan, the
Compensation/Options Committee of the Board of Directors (the "Committee"), has
approved the execution of this Grant Agreement (the "Option") between the
Company and the Option Holder.  Capitalized terms used herein without definition
shall have the meanings assigned to such terms in the Plan.

Option

          1.  Terms.  The Company grants to the Option Holder the right and
              -----
option to purchase on the terms and conditions hereinafter set forth, all or any
part of the aggregate number of shares set forth in the Notice of Common Stock
exercisable in accordance with the provisions of this Option during a period
expiring ten years from the date of the Notice (the "Expiration Date"), unless
terminated prior to that date pursuant to Section 5 or 6 below.  This Option is
a Non-Qualified Stock Option.

          2.  Exercisability (Vesting).  The Option Holder may purchase the
              ------------------------
following percentages of the shares of Common Stock set forth in the Notice on
or after the dates set forth below; provided that the Option Holder is employed
by the Company or one of its Subsidiaries on the applicable vesting date:

<TABLE>
<CAPTION>
  ============================================================================
                                                         Percent of Shares
   Commencing on the Date of this Option               Subject to this Option
                                                       that may be Purchased
  ----------------------------------------------------------------------------
   <S>                                                 <C>
   After the First 6 months                                     10%
  ----------------------------------------------------------------------------
   After the First year                                         10%
  ----------------------------------------------------------------------------
   After each 6 months thereafter                               20%
  ----------------------------------------------------------------------------
   Fully vested after 3 years
  ============================================================================
</TABLE>

          The number of shares that may be purchased upon exercise of this
Option shall in each case be calculated to the nearest full share.

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          3.   Method of Exercising.  Each exercise of this Option shall be by
               --------------------
means of a written notice of exercise delivered to the office of the Secretary
of the Company, specifying the number of whole shares to be purchased,
accompanied by payment of the full purchase price of the shares to be purchased.
The payment shall be in the form of cash or such other forms of consideration as
the Committee shall deem acceptable, such as the surrender of outstanding shares
of Common Stock owned by the Option Holder or by withholding shares that would
otherwise be issued upon the exercise of the Option.  The Option Holder may
exercise this Option by the delivery to the Company or its designated agent of
an irrevocable written notice of exercise form together with irrevocable
instructions to the broker-dealer to sell or margin a sufficient portion of the
shares of Common Stock and to deliver the sale or margin loan proceeds directly
to the Company to pay the exercise price of this Option.

          4.   Withholding.  Upon exercise, the Option Holder shall pay, or make
               -----------
provisions satisfactory to the Company or its Subsidiary for payment of any
federal, state and local taxes required to be withheld.

          5.   Cancellation of Grants.  Option Holder specifically acknowledges
               ----------------------
that this Option is subject to the provisions of Section 20 of the plan,
entitled "Cancellation of Grants," which can cause the forfeiture of this
Option, or the rescission of Common Stock acquired upon the exercise of this
Option. As a condition of the exercise of this Option, the Option Holder shall
certify on a form acceptable to the Committee that he or she is in compliance
with the terms and conditions of the plan, including Section 20 thereof,
entitled "Cancellation of Grants."

          6.   Term.  Any portion of this Option that is not exercisable
               ----
pursuant to Section 2 on the date upon which the Option Holder's employment with
the Company and its Subsidiaries terminates shall terminate immediately upon the
termination of the Option Holder's employment with the Company and its
Subsidiaries.  Any portion of this Option that is exercisable on the date upon
which the Option Holder's employment with the Company and its Subsidiaries
terminates shall terminate ninety (90) days after the Option Holder ceases to be
an employee of the Company or one of its Subsidiaries for any reason other than
as described below.

               i.  If the Option Holder's employment is terminated by reason of
     death, the heirs of the Option Holder will be able to exercise this Option
     until the earlier of (a) one (1) year following the death of the Optionee
     or (b) the date on which this Option would otherwise expire.

               ii. If the Option Holder's employment is terminated after the
     attainment of age fifty-five (55) and the completion of five (5) years of
     service (as determined in accordance with the terms of the Mattel, Inc.
     Personal Investment Plan), the Option Holder will be able to exercise this
     Option until the earlier of (a) five (5) years following termination of
     employment or (b) the date on which this Option would otherwise expire.

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          7.  Compliance with Law.  No shares issuable upon the exercise of
              -------------------
this Option shall be issued and delivered unless and until all applicable
registration requirements of the Securities Act of 1933, all applicable listing
requirements of any national securities exchange on which the Common Stock is
then listed, and all other requirements of law or of any regulatory bodies
having jurisdiction over such issuance and delivery, shall have been complied
with.  In particular, the Committee may require certain investment (or other)
representations and undertakings in connection with the issuance of securities
in connection with the Plan in order to comply with applicable law.

          8.  Assignability.  Except as may be effected by will or by the laws
              -------------
of descent and distribution, any attempt to assign this Option shall be of no
effect.

          9.  Certain Corporate Transactions.  In the event of any change in
              ------------------------------
the Common Stock by reason of a stock split, stock dividend, combination or
reclassification of shares, recapitalization, merger, or similar event the
Committee may adjust proportionately the number of shares and the stock price of
the Common Stock subject to this Option.  In the event of any other change
affecting the Common Stock or any distribution (other than normal cash
dividends) to holders of Common Stock, the Committee may make such adjustments
as it may deem equitable (including adjustments to avoid fractional shares) in
order to give proper effect to such event.  In the event of a corporate merger,
consolidation, acquisition of property or stock, spin-off, reorganization or
liquidation, the Committee may substitute a new option for this Option or
provide for the assumption of this Option by the other corporation that is a
party to the transaction.

          10. No Additional Rights.  Neither the granting of this Option nor its
              --------------------
exercise shall (a) confer upon the Option Holder any right to continue in
the employ of the Company (b) interfere in any way with the rights of the
Company or a Subsidiary to terminate such employment at any time for any reason,
with or without cause, or (c) interfere with the right of the Company or a
Subsidiary to undertake any lawful corporate action.  Option Holder acknowledges
that he or she is an "employee at will."  The provisions of this Section 10 are
subject to the terms of any employment agreement between the Option Holder and
the Company (or a Subsidiary).

          11. Rights as a Stockholder.  Neither the Option Holder nor any other
              -----------------------
person legally entitled to exercise this Option shall be entitled to any
of the rights or privileges of a stockholder of the Company in respect of any
shares issuable upon any exercises of this Option unless and until a certificate
or certificates representing such shares shall have been actually issued and
delivered to the Option Holder.

          12. Compliance with Plan.  This Option is subject to, and the
              --------------------
Company and Option Holder agree to be bound by, all of the terms and conditions
of the Plan as it shall be amended from time-to-time.  No amendment to the plan
shall adversely affect this Option without the consent of the Option Holder.  In
the case of a conflict between the terms of the Plan and this Option, the terms
of the Plan shall govern.

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          13.  Governing Law.    This Option has been granted, executed and
               -------------
delivered with effect from the date of Notice, at El Segundo, California, and
interpretation, performance and enforcement of this Option shall be governed by
the laws of the State of Delaware.

                                       4<PAGE>

                                                                   EXHIBIT 10.48

                              AMENDMENT NO. 3 TO
             THE MATTEL, INC. 1997 PREMIUM PRICE STOCK OPTION PLAN

          The Mattel, Inc. 1997 Premium Price Stock Option Plan (the "Plan") is
hereby amended as set forth below.

1.   Section 2.2 of the Plan is hereby amended, effective as of November 4,
     1999, to read in its entirety as follows:

          2.2  "Change in Control" means the occurrence of any of the following:

          (a)  The acquisition by any individual, entity or group (within the
          meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act
          of 1934, as amended (the "Exchange Act")) (a "Person") of beneficial
          ownership (within the meaning of Rule 13d-3 promulgated under the
          Exchange Act) of 20% or more of either (1) the then outstanding shares
          of common stock of the Company, including the shares of common stock
          of the Company issuable upon an exchange of Softkey Exchangeable
          Shares that are not owned by the Company or any corporation controlled
          by the Company (the "Outstanding Company Common Stock") or (2) the
          combined voting power of the then outstanding voting securities of the
          Company entitled to vote generally in the election of directors (the
          "Outstanding Company Voting Securities"); provided, however, that for
                                                    -----------------
          purposes of this subsection (a), the following shall not constitute a
          Change in Control: (1) any acquisition directly from the Company, (2)
          any acquisition by the Company or any corporation controlled by the
          Company, (3) any acquisition by any employee benefit plan (or related
          trust) sponsored or maintained by the Company or any corporation
          controlled by the Company, (4) any acquisition by a Person of 20% of
          either the Outstanding Company Common Stock or the Outstanding Company
          Voting Securities as a result of an acquisition of common stock of the
          Company by the Company or of Softkey Exchangeable Shares by Softkey
          which, by reducing the number of shares of common stock of the Company
          or Softkey Exchangeable Shares outstanding, increases the
          proportionate number of shares beneficially owned by such Person to
          20% or more of either the Outstanding Company Common Stock or the
          Outstanding Company Voting Securities; provided, however, that if a
                                                 -----------------
          Person shall become the beneficial owner of 20% or more of either the
          Outstanding Company Common Stock or the Outstanding Company Voting
          Securities by reason of a share acquisitions by the Company or by
          Softkey as described above and shall, after such share acquisitions by
          the Company or Softkey, become the beneficial owner of any additional
          shares of common stock of the Company, then such acquisition shall
          constitute a Change in Control or (5) any acquisition pursuant to a
          transaction which complies with clauses (1), (2) and (3) of subsection
          (c) of this Section; provided, further, however, that for purposes of
                               -----------------
          this subsection (a), any Investing Person (as such term is defined in
          the Rights Agreement) shall be deemed not to be a beneficial owner of
          any Investment Shares (as such term is defined in the Rights
          Agreement) and the holder of the Mattel Special Voting Preferred Share
          (as such term is defined in the Rights
<PAGE>

          Agreement) and the holder of the Mattel Special Voting Preferred Share
          (as such term is defined in the Rights Agreement) shall be deemed not
          to be a beneficial owner of such Mattel Special Voting Preferred
          Share; or

          (b)  Individuals who, as of the date hereof, constitute the Board (the
          "Incumbent Board") cease for any reason to constitute at least a
          majority of the Board; provided, however, that any individual becoming
                                 -----------------
          a director subsequent to the date hereof whose election, or nomination
          for election by the Company's shareholders, was approved by a vote of
          at least a majority of the directors then comprising the Incumbent
          Board shall be considered as though such individual were a member of
          the Incumbent Board, but excluding, for this purpose, any such
          individual whose initial assumption of office occurs as a result of an
          actual or threatened election contest with respect to the election or
          removal of directors or other actual or threatened solicitation of
          proxies or consents by or on behalf of a Person other than the Board;
          or

          (c)  Consummation by the Company of a reorganization, merger or
          consolidation or sale or other disposition of all or substantially all
          of the assets of the Company or the acquisition of assets of another
          entity (a "Business Combination"), in each case, unless, following
          such Business Combination, (1) all or substantially all of the
          individuals and entities who were the beneficial owners, respectively,
          of the Outstanding Company Common Stock and Outstanding Company Voting
          Securities immediately prior to such Business Combination beneficially
          own, directly or indirectly, more than 50% of, respectively, the then
          outstanding shares of common stock and the combined voting power of
          the then outstanding voting securities entitled to vote generally in
          the election of directors, as the case may be, of the corporation
          resulting from such Business Combination (including, without
          limitation, a corporation which as a result of such transaction owns
          the Company or all or substantially all of the Company's assets either
          directly or through one or more subsidiaries) in substantially the
          same proportions as their ownership immediately prior to such Business
          Combination of the Outstanding Company Common Stock and Outstanding
          Company Voting Securities, as the case may be, (2) no Person
          (excluding any employee benefit plan (or related trust) of the Company
          or such corporation resulting from such Business Combination)
          beneficially owns, directly or indirectly, 20% or more of
          respectively, the then outstanding share of common stock of the
          corporation resulting from such Business Combination or the combined
          voting power of the then outstanding voting securities of such
          corporation except to the extent that such ownership existed prior to
          the Business Combination and (3) at least a majority of the members of
          the board of directors of the corporation resulting from such Business
          Combination were members of the Incumbent Board at the time of the
          execution of the initial agreement, or of the action of the Board,
          providing for such Business Combination; or

          (d)  Approval by the shareholders of the Company of a complete
          liquidation or dissolution of the Company.

                                      -2-
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2.   A new Section 2.29 is hereby added to the Plan, effective as of November 4,
     1999, reading in its entirety as follows:

          2.9  "Rights Agreement" means the Rights Agreement, dated as of
          February 7, 1992, as amended by an amendment dated as of May 13, 1999
          and an amendment dated as of November 4, 1999 by and between the
          Company and BankBoston N.A., a national banking association, formerly,
          The First National Bank of Boston, and not giving effect to any
          amendments subsequent to November 4, 1999.

3.   New Sections 2.32 and 2.33 are hereby added to the Plan, effective as of
     November 4, 1999, reading in their entirety as follows:

          2.32  "Softkey" means Softkey Software Products Inc., an Ontario
          corporation.

          2.33  "Softkey Exchangeable Shares" means the Exchangeable Shares (as
          defined in the Rights Agreement) the capital stock of Softkey.

4.   Current Sections 2.29, 2.30, 2.31, 2.32, 2.33, 2.34 and 2.35 are hereby
     renumbered, effective as of November 4, 1999, as 2.30, 2.31, 2.34, 2.35,
     2.36, 2.37 and 2.38, respectively.

5.   Section 9.5.5 of the Plan is hereby amended, effective as of February 10,
     2000, to read in its entirety as follows:

          In the event of a Change in Control, an Option which has not
          previously been forfeited may be exercised for all of the shares that
          were part of the original grant as to which the Option has not
          previously been exercised, without regard to the Participant's
          duration of employment and without regard to the applicable
          performance criteria.

6.   Clause (c) of Section 11.4.4 of the Plan is hereby amended, effective as of
     February 10, 2000, to read in its entirety as follows: "The second
     anniversary of the date of the Change in Control."

7.   Section 10.1.1 of the Plan is hereby amended, as of November 4, 1999, by
     adding a new paragraph to the end thereof, reading in its entirety as
     follows:

          Notwithstanding the provisions of this Section 10.1.1 and Section 12.4
          to the contrary, in the case of a Participant who incurs a Termination
          without Cause during the 18-month period following a Change in
          Control, any Option held by such Participant may thereafter be
          exercised by the Participant, to the extent it was exercisable at the
          time of termination, or on such accelerated basis as the Committee may
          determine, for (a) the longer of (1) two years from such date of
          Severance or (2) such other period as may be provided in the Plan for
          such Severance or as the Grant Agreement provides, or (b) until
          expiration of the stated term of such Option, whichever period is
          shorter.

                                      -3-
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8.   The foregoing amendments to the Plan shall apply (i) with respect to awards
     granted under the Plan on or after the effective date specified above for
     such amendment, as of the date of grant, and (ii) with respect to awards
     previously granted under the Plan, effective as of February 10, 2000.

                              *        *        *

          IN WITNESS WHEREOF, the Company has caused this Amendment to the Plan
to be executed, effective as set forth above.

                                       MATTEL, INC.

                                       By:  /s/ Alan Kaye
                                            ------------------------------------
                                            Name:   Alan Kaye
                                            Title:  Senior Vice President Human
                                                    Resources

                                      -4-

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