Document:

Document

    Exhibit 10.2

January 5, 2022

Eric C. Nyman
[**REDACTED**]
[**REDACTED**]

Dear Eric,
We value you as a key member of our leadership team, and we are pleased to promote you to President and Chief Operating Officer of Hasbro, Inc. (the “Company”).  Your contributions are important to the success of our strategic plans.  We desire to set forth certain terms of your employment with us pursuant to this letter agreement.  Except as set forth below, the terms of your employment will be governed by the Company’s plans and policies, as they are in effect and amended from time to time.
1.Role:  You will serve as President and Chief Operating Officer of Hasbro, Inc.  commencing as of February 25th, 2022 (the “Effective Date”). Until the Effective Date, you will continue to perform your current duties, and you will also work closely with Chris Cocks, Richard Stoddart and the other members of the Company’s management team and the Board of Directors (the “Board”) to prepare for your transition into the role of President and Chief Operating Officer, the timing of which will coincide with Mr. Cocks transitioning into the role of Chief Executive Officer.  Following the Effective Date, you shall report directly to, and be subject to the supervision of, the Company’s Chief Executive Officer. 
2.Term.  The term of your employment as President and Chief Operating Officer of the Company will commence on the Effective Date and will end on December 31st, 2023 (the “Term” or the “Employment Period”, and December 31st, 2023 is referred to as the “End Date”), unless earlier terminated or extended.  
3.Base Salary.  As of the Effective Date, your base salary (the “Base Salary”) will be payable at an annualized rate of $1,100,000, and in periodic installments in accordance with the Company’s customary payroll practices.  Your base salary shall be reviewed periodically in accordance with the Company’s compensation guidelines for senior executives, and may be upwardly adjusted to the extent, if any, deemed appropriate by Hasbro’s Compensation Committee of the Board (the “Compensation Committee”) and the full Board; provided, however, that your Base Salary may be reduced proportionally if in connection with a generally applicable reduction in the compensation of all of the Company’s senior executives.
4.Management Incentive Plan Bonus.  Beginning with the Company’s 2022 fiscal year, you will be eligible to receive an annual management incentive plan bonus based on a target (the “Target Bonus”) of one hundred percent (100%) of your earned Base Salary for the incentive year (the “Annual Bonus”), subject to the performance criteria set forth below.  For each fiscal year thereafter that this Agreement is in effect, your Target Bonus shall be reviewed periodically in accordance with the Company’s compensation philosophy, market conditions and other factors deemed relevant by the Compensation Committee, and upwardly adjusted to the extent, if any, deemed appropriate by the Compensation Committee and the Board; provided, however, that your Target Bonus may be reduced proportionally if in connection with a generally applicable reduction in the target bonuses of all of the Company’s senior executives.  The corporate performance criteria and targets to be used for purposes of the annual management incentive plan (the “Annual Performance Plan”) bonus shall be determined and established by 

the Compensation Committee and the Board.  Actual bonus awards shall be determined in the discretion of the Compensation Committee pursuant to the terms of the Company’s Annual Performance Plan that is applicable to you.  For fiscal 2023, if the Executive’s employment with the Company terminates on or after January 1, 2024, the Executive’s bonus for 2023, determined by the Compensation Committee and the Board in accordance with the Company’s actual performance against the corporate performance targets for fiscal 2023, will be paid to Executive no later than in March 2024, at the same time bonuses for fiscal 2023 are paid to other executives of the Company. 
5.Long-Term Incentive.  You shall participate in the Company’s long-term incentive program and shall, beginning in the Company’s 2022 fiscal year (with such grant anticipated to be made in February of 2022), have a target annual long-term incentive award level equal to four-hundred percent (400%) of your Base Salary, with awards to be made in the form and amounts determined by the Compensation Committee, which may include stock options, restricted stock units and/or performance share awards, and/or other types of awards. The forms and amounts of such awards may be substantially in the same proportion as awards made to other senior executives of the Company, or the mix of awards may be unique to you as President and Chief Operating Officer, in the discretion of the Compensation Committee and the Board.  For each fiscal year after 2022 that this Agreement remains in effect, your target long-term incentive award levels shall be reviewed periodically in accordance with the Company’s compensation philosophy, market conditions and other factors deemed relevant by the Compensation Committee, and upwardly adjusted to the extent, if any, deemed appropriate by the Compensation Committee and the Board; provided, however, that your target long-term incentive award level may be reduced proportionally if in connection with a generally applicable reduction in the target long-term incentive award levels of all of the Company’s senior executives.  
6.Retention Equity Grant.  At the time the Company makes its annual equity grants for 2022 (with such grants anticipated to be made in February of 2022), in addition to your regular equity grants for 2022, you will receive a one-time retention grant as well.   This retention grant will take the form of a restricted stock unit grant with a grant date value of $750,000 (the “Retention Grant”).  Except as set forth in the following sentence, the Retention Grant will cliff vest on the last day of the Term (i.e. December 31, 2023) if, and only if, you remain employed with the Company through the last day of the Term.  The Retention Grant will fully vest earlier than the End Date upon your death, Disability, termination by the Company without Cause (either with or without a Change in Control) or termination by you for Good Reason (either with or without a Change in Control).  The Retention Grant will be forfeited and null and void if your employment with the Company terminates prior to the last day of the Term for any reason not set forth in the immediately preceding sentence.
7.Equity Treatment if Employment Continues for at Least the Full Term.  Upon any termination of your employment, your outstanding equity grants will be treated in accordance with their terms, as and to the extent modified by this letter agreement.  However, if you remain employed by the Company through at least December 31, 2023, the following treatment will apply to any contingent performance share awards (or other performance-based equity awards) then outstanding and held by you that were granted in either 2022 or 2023 (collectively the “2022/2023 Performance Awards”).   If your employment with the Company terminates after December 31, 2023 (the date of such termination referred to as the “Date of Termination”) for any reason other than the Company’s termination of your employment for Cause, including, without limitation, upon a resignation by you with or without Good Reason, or upon a termination of your employment by the Company without Cause, and you have outstanding 
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2022/2023 Performance Awards, those awards shall remain outstanding until the end of the applicable performance periods (each a “Performance Period”).  You shall be entitled, following completion of the applicable Performance Periods, to the number of shares of common stock, if any, that would have been earned under such 2022/2023 Performance Awards had your employment not ended prior to the end of the Performance Period based on the actual achievement of the applicable performance targets during the full relevant Performance Periods (as defined under such awards), computed at the end of the Performance Period, and pro-rated by multiplying that number of shares by a fraction, the numerator of which is the number of days from the start of the Performance Period to the Date of Termination of your employment, and the denominator of which is the total number of days in the applicable Performance Period (the “Pro-Rated PSA Vesting”).  Any shares earned under such awards shall be provided to you after the end of the applicable Performance Period for that award in accordance with the terms of the applicable award, but in no event earlier than thirty (30) days after the evaluation of the applicable Performance Period is completed (the “Pro-Rated PSA Vesting Schedule”).  You may not exercise or dispose of any portion of an award or related shares of common stock that vests or become exercisable under this Section 7 until such time as the Executive Release becomes irrevocable (and any amounts that were unvested or unexercisable as of the Date of Termination shall immediately expire upon the 45th day following the Date of Termination if the Executive Release has not then become irrevocable).  
The obligation of the Company to provide the benefits to you under this Section 7 is conditioned upon you signing and delivering to the Company a severance and release of claims agreement in a form to be provided by the Company (which will include, at a minimum, a release of all releasable claims and confidentiality, non-disparagement and cooperation obligations by the you in favor of the Company, but in no event shall such release provide any restrictive covenants that are more restrictive than those set forth in this letter agreement or any other agreement you have entered with the Company) (the “Executive Release”), which Executive Release must become irrevocable within sixty (60) days following the Date of Termination.  
8.Restrictive Covenants.  You acknowledge that you are currently subject to certain non-competition restrictions in favor of the Company (reflected in the Non-Competition, Non-Solicitation and Confidentiality Agreements previously entered by you in connection with your employment and equity grants).  You may also become subject to similar such restrictions in the future, including in connection with future equity grants.  Collectively these non-competition provisions are referred to as the “Non-Compete Restrictions”.  Those Non-Compete Restrictions are amended as follows, and any future non-competition restrictions you are asked to execute will reflect the following:
a.If, and only if, either: (i) your employment with the Company terminates after December 31, 2022, or (ii) upon an earlier termination of your employment, but only if such termination earlier than December 31, 2022 is by you for Good Reason, or by the Company without Cause, then in either case the Company agrees to amend, and does hereby amend, the Non-Compete Restrictions to provide that if you are considering employment with another business or enterprise that would be potentially deemed competitive with the Company under the Non-Compete Restrictions, the Company will consider in good faith any request you make of the Company to be released from your Non-Compete Restrictions in connection with potentially accepting such alternative employment.   The Company will not unreasonably deny such a request.  
b.If your employment with the Company terminates after December 31, 2023, the Company agrees to amend, and does hereby amend, the Non-Compete Restrictions to 
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provide that they will only prohibit you from employment or other association with Mattel, Lego or MGA Entertainment (or a successor to one of those companies’ businesses), and will not apply to your employment or association with any other business or enterprise.
c.Upon a termination of your employment, the Non-Compete Restrictions, as amended above, will apply for a period of one (1) year after your Date of Termination.  For the portion of such one-year period that elapses prior to December 31, 2023, the Non-Compete Restrictions as amended by subsection a. above shall apply.  For any remainder of such one-year period that occurs on or after January 1, 2024, the Non-Compete Restrictions as amended by subsection b. above shall apply.
d.This Section 8 does not amend any of the confidentiality, non-solicitation or non-interference provisions to which you are bound, and only the Non-Compete Restrictions are amended hereby.
9.Benefit Plans.  You will continue to participate in the benefit plans and policies of the Company in which you currently participate, as those plans may be amended by the Company from time to time.
10.Incorporation of Other Provisions.  In the interest of time the parties have drafted this letter agreement as a short document, and the parties agree that the following provisions (and only the following listed provisions, and not any other provisions) from the August 1, 2018 Employment Agreement between the Company and its previous President and Chief Operating Officer, which agreement was previously filed with the Securities and Exchange Commission via the EDGAR system, are hereby incorporated into this letter agreement mutatis mutandis, for the benefit of both the Executive and the Company: Section 3.4, Section 3.5, Section 3.6, Section 3.7, all of Section 4 (including Sections 4.1 through and including 4.6) , all of Section 5 (including Sections 5.1 through and including 5.6), Section 6, Section 7 (including 7.1 through and including 7.5), Section 9, Section 10 (including Sections 10.1 through and including 10.7) and Section 11 (including Sections 11.1 through and including Section 11.10).  If either of the parties requests, following the Effective Date of this Agreement the parties will work together to amend and restate this letter agreement as a long-form agreement actually incorporating the full text of the foregoing provisions, mutatis mutandis, into the long-form document.
11.Entire Agreement.  This letter agreement represents the entire agreement and understanding between you and the Company concerning the subject matter of this letter and the events leading thereto and associated therewith, and supersede and replace any and all prior negotiations, representations, agreements and understandings concerning the subject matter of such agreements.
12.Governing Law.  This letter agreement shall be governed by and construed in accordance with the laws of the State of Rhode Island (without reference to the conflicts of laws provisions thereof).  Any action, suit or other legal proceeding arising under or relating to any provision of this letter agreement shall be commenced only in a court of the State of Rhode Island (or, if appropriate, a federal court located within Rhode Island), and the Company and you each consents to the jurisdiction of such a court.  The Company and you each hereby irrevocably waives any right to a trial by jury in any action, suit or other legal proceeding arising under or relating to any provision of this Agreement.
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13.Counterparts.  This letter agreement may be executed in counterparts and by facsimile, and each counterpart and facsimile shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned.
IN WITNESS WHEREOF, the parties hereto have executed this letter agreement as of the day and year first written above.

                            EXECUTIVE
									
		By:	/s/ Eric Nyman
			Eric Nyman

									
		HASBRO, INC.:

		By:	/s/ Richard Stoddart
			Name:  Richard Stoddart
Title:    Interim Chief Executive Officer 

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        Exhibit 10.3

HASBRO, INC.
RESTATED 2003 STOCK INCENTIVE PERFORMANCE PLAN
STOCK OPTION AGREEMENT FOR EMPLOYEES
(WITH NON-COMPETE)
____________, 2022 GRANT

    AGREEMENT, made effective as of __________, 2022, by and between HASBRO, INC., a Rhode Island corporation (the "Company") and the designated option grant recipient (the "Optionee").
    WHEREAS, Optionee is an employee of the Company or of a direct or indirect subsidiary of the Company and is eligible to participate in the Company's Restated 2003 Stock Incentive Performance Plan, as amended (the "Plan"), and
    WHEREAS,  the Compensation Committee (the "Committee") of the Board of Directors of the Company (the "Board") acting in accordance with the provisions of the Plan is granting to Optionee a non-qualified stock option to purchase the specified number of shares of Common Stock of the Company, par value $.50 per share (the "Common Stock"), at a price determined by said Committee to be not less than the fair market value of such Common Stock on the date of said grant, subject to and upon the terms and conditions set forth in the Plan and as hereinafter set forth.
    NOW, THEREFORE, in consideration of the premises and other good and valuable consideration, the parties hereto agree as follows:
W I T N E S S E T H:
    1.    Contingent upon and in consideration for the Optionee having executed and delivered to the Company’s designated contact no later than __________, 2022 a Non-Competition, Non-Solicitation and Confidentiality Agreement (the “Non-Compete Agreement”) between the Optionee and the Company in the form provided to the Optionee by the Company (or otherwise confirming the terms of the Optionee’s existing Non-Compete Agreement), the Company hereby grants to the Optionee effective on __________, 2022, pursuant to the Plan, a copy of which is attached hereto as Appendix A and the provisions of which are incorporated herein as if set forth in full, a stock option to purchase all or any part of the number of shares of Common Stock (the "Shares"), described in Section 3 below (the "Option"), subject to and upon the terms and conditions set forth in the Plan and the Non-

Compete Agreement and the additional terms and conditions hereinafter set forth.  The Option is evidenced by this Agreement.  In the event of any inconsistency between the provisions of this Agreement and, if applicable, the terms of the Optionee’s Employment Agreement, the provisions set forth in the Employment Agreement shall control, provided that to the extent the provisions of this Agreement or the Optionee’s Employment Agreement are inconsistent with the terms of the Plan, then the terms of the Plan shall control.  For the avoidance of doubt, if the Optionee has not executed and delivered to the Company’s designated contact the Non-Compete Agreement (or otherwise confirmed the terms of the Optionee’s existing Non-Compete Agreement) on or before __________, 2022 the Option represented by this Agreement will never take effect and will be null and void.
    2.    By accepting this award the Optionee hereby acknowledges and agrees that (i) this Option, and any shares the Optionee may acquire under this Option in the future or any of the proceeds of exercising this Option or selling any shares acquired pursuant to this Option, as well as any other incentive compensation the Optionee is granted after adoption, is subject to the Company’s Clawback Policy, which was adopted by the Company’s Board of Directors in October 2012,  as it may be amended from time to time by the Board in the future, and (ii) the Optionee is subject to and bound by the terms of the Non-Compete Agreement.  Such acknowledgements and agreements are material conditions to receiving this Option, which would not have been granted to the Optionee otherwise.  Additionally, the Optionee acknowledges and agrees that if the Optionee is or becomes subject to the Hasbro, Inc. Executive Ownership Policy, effective as of March 1, 2014, as it may be amended from time to time by the Board in the future (the “Stock Ownership Policy”),  then by accepting this award and any shares that the Optionee may acquire in the future pursuant to this award, as well as any other equity-based incentive compensation the Optionee is granted after the Optionee becomes subject to the Stock Ownership Policy, the Optionee agrees that the Optionee will be subject to the terms of the Stock Ownership Policy, including without limitation the requirement to retain an amount equal to at least 50% of the net shares received as a result of the exercise, vesting or payment of any equity awards granted until the Optionee’s applicable requirement levels are met.
    3.    This Agreement relates to an Option to purchase the specified number of shares which have been communicated to the Optionee at an exercise price of $_____ per share (the "Exercise Price Per Share").  (Hereinafter, the term "Exercise Price" shall mean the Exercise 
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Price Per Share multiplied by the number of shares being exercised.)  Subject to the provisions of the Plan and of this Agreement, the Optionee shall be entitled to exercise the Option on a cumulative basis until the day preceding the seventh anniversary of the date of the grant in accordance with the following schedule:
                    Cumulative
                    Percent of Option
Period                    Exercisable   

________ ____ to ________ ____    0%
________ ____ to ________ ____    33 1/3%
________ ____ to ________ ____    66 2/3%
________ ____ to ________ ____    100%

In determining the number of shares exercisable in accordance with the above table, fractional shares shall be disregarded.
    4.     In the event that Optionee wishes to purchase any of the shares then purchasable under the Option as provided in Section 3 hereof, Optionee shall deliver or shall transmit  to the Company or to the Company’s designee, in the manner designated by or on behalf of the Company, a notice in the form and/or in the manner designated by or on behalf of the Company or its designee, as the same may be amended or supplemented from time to time by or on behalf the Company, together with a check payable to Hasbro, Inc. or its designee, if applicable, (or accompanied by wire transfer to such account of the Company or its designee as the Company may designate) in United States dollars, in the aggregate amount of the Exercise Price, or shares of Common Stock held by the Optionee for at least six (6) months (duly endorsed to the Company or its designee, if applicable, or accompanied by an executed stock power, in each case with signatures guaranteed by a bank or broker if required by the Company or its designee) having a Fair Market Value (as defined in the Plan) equal to the Exercise Price, or a combination of such shares having a Fair Market Value less than the Exercise Price and a check in United States dollars for the balance of the Exercise Price.
        Unless an Optionee shall have made advance alternative arrangements satisfactory to the Company, or to the Company’s designee, each Optionee shall deliver to the Company or its designee, together with the required notice of exercise and payment of the Exercise Price as aforesaid, a check payable to Hasbro, Inc. or its designee, if applicable, or a wire transfer to such account of the Company or its designee, if applicable, as the Company may designate, in United States dollars, in the amount of any withholding required by law for any and all federal, state, 
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local or foreign taxes payable as a result of such exercise.  Each Optionee shall consult with the Company or the Company’s designee in advance of the exercise so as to determine the amount of withholding taxes due.  An Optionee may also elect to satisfy any withholding taxes payable as a result of such exercise (the "Taxes"), in whole or in part, either (i) by having the Company or its designee withhold from the shares of Common Stock to be issued upon exercise of the Option or (ii) delivering to the Company or its designee shares of Common Stock already owned by the Optionee and held by the Optionee for at least six (6) months (represented by stock certificates duly endorsed to the Company or accompanied by an executed stock power in each case with signatures guaranteed by a bank or broker to the extent required by the Company or its designee), in each case in an amount whose Fair Market Value on the date of exercise is either equal to the Taxes or less than the Taxes, provided that a check payable to Hasbro, Inc. or its designee, if applicable, or a wire transfer to such account of the Company or its designee as the Company may designate, in United States dollars for the balance of the Taxes is also delivered to the Company, or its designee, at the time of exercise.  
    Notwithstanding anything in this Section 4 to the contrary, if this Option is scheduled to expire due to the expiration of the term on the date described in Section 3 above and the Fair Market Value of a share of Common Stock on the last day of such term exceeds the Exercise Price for a share of Common Stock subject to this Option, then, by accepting this Award,  you shall be treated as having instructed the Company to exercise the vested portion of this Option on the last day of such term.  As promptly as practicable thereafter, the Company will deliver to the Optionee that number of shares subject to the vested Option less the number of shares with a value that is equal to the aggregate Fair Market Value of (1) the aggregate exercise price of the vested Stock Option and (2) the amount necessary to satisfy any required withholding of Taxes.
In addition, the Optionee shall comply with such other requirements and provide such additional information and documentation as is reasonably required by the Company, or the Company’s designee, to process any exercise of this option and resulting delivery of shares.  As soon as practicable after receipt of the notice of exercise, Exercise Price, Taxes, and such other information and documentation as the Company or its designee shall require, the Company or its designee shall deliver or cause to be delivered to Optionee the shares in respect of which the Option was so exercised (less any shares deducted to pay Taxes in accordance with Optionee's election).
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    5.    (a)   If an Optionee who is an employee of the Company or of a direct or indirect subsidiary of the Company retires at his or her Normal Retirement Date (as defined below), or an Optionee with at least one year of Credited Service of the Company suffers a permanent physical or mental disability (as defined below) or dies, in each case without the Optionee having fully exercised any Option granted to the Optionee, then the Optionee, the executor, administrator or trustee of the Optionee’s estate, or the Optionee’s legal representative, as the case may be, shall have the right to exercise any Option under the Plan, for a period of not more than one (1) year after such retirement, such disability, or in the case of death, the appointment and qualification of such executor, administrator or trustee (except that in no event other than death may such Option be exercised  later than the day preceding the seventh anniversary of the date of the grant of such Option).  In each such case, the Option will be exercisable with respect to all or any part of the number of shares to which the Option relates, whether or not said Option was fully exercisable in accordance with the schedule set forth in Section 3 of this Agreement as of the date of such retirement, disability or death.  Thereafter, such Option, to the extent not so exercised during such one-year period shall be deemed to have expired regardless of the expiration date otherwise specified in Section 2 hereof.  
        (b)    If an Optionee who is an employee of the Company or of a direct or indirect subsidiary of the Company retires at an Early Retirement Date (as defined below), without the Optionee having fully exercised any Option granted to him or her, the Optionee shall have the right to exercise the unexercised portion of any Option theretofore granted, but only to the extent said Option was then exercisable in accordance with the schedule set forth in Section 3 of this Agreement, for a period of not more than three (3) months after the date of early retirement (but in no event shall the exercise period extend beyond the day preceding the seventh anniversary of the date of grant of the Option). Thereafter, the Option, to the extent not exercised during such three-month period shall be deemed to have expired, regardless of the expiration date otherwise specified in Section 3 hereof.
        (c)    If an Optionee ceases to be employed by the Company or by a direct or indirect subsidiary of the Company for any reason other than the reasons set forth in subsections (a), (b) and (d) of this Section 5, he or she shall have the right to exercise the unexercised portion of any Option theretofore granted to Optionee, but only to the extent said Option was then exercisable in accordance with the schedule set forth in Section 3 of this Agreement as of the date of termination, for a period of not more than three (3) months after any such termination 
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(but not, in any event, later than the day preceding the seventh anniversary date of the grant of such Option).  Thereafter, such Option, to the extent not so exercised during such three-month period, shall be deemed to have expired, regardless of the expiration date otherwise specified in Section 3 hereof.

    For purposes of subsections (a) and (b) above:
*    A year of "Credited Service" shall mean a calendar year in which the Optionee is paid for at least 1,000 hours of employment with the Company or of a subsidiary of the Company.  
*    "Early Retirement Date" shall mean:  the day on which an Optionee who has attained age fifty-five (55), but has not reached age sixty-five (65), with ten (l0) or more years of Credited Service, retires.  An Optionee is eligible for early retirement on the first day of the calendar month coincidental with or immediately following the attainment of age fifty-five (55) and the completion of ten (l0) years of Credited Service, and "early retirement" shall mean retirement by an eligible Optionee at the Early Retirement Date.
*    "Normal Retirement Date" shall mean:  the day on which an Optionee who has attained age sixty-five (65) with five (5) or more years of Credited Service, retires. An Optionee is eligible for normal retirement on the first day of the calendar month coincident with or immediately following the Optionee's attainment of age sixty-five (65) and completion of five (5) or more years of Credited Service, and "normal retirement" shall mean the retirement by an eligible Optionee at the Normal Retirement Date.
*    "permanent physical or mental disability" shall mean:  an Optionee's inability to perform his or her job or any position which the Optionee can reasonably perform with his or her background and training by reason of any medically determinable physical or mental impairment which can be expected to result in death or to be of long, continued and indefinite duration.
    (d)  Notwithstanding the foregoing, the Optionee acknowledges and agrees that this Option, and any and all rights the Optionee may have hereunder, including any rights with respect to any portion of this Option which may have vested in accordance with the Schedule set forth in Section 3 above, shall terminate immediately upon a termination of the Optionee’s 
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employment with the Company for cause or for any such other reason that casts such discredit on the Optionee as to make termination of the Option appropriate.  Whether an Optionee has been terminated for cause or for such other reason that casts such discredit on the Optionee as to make termination of the Option appropriate will be determined by the Administrator in its sole discretion, and in making this determination the Administrator will not be limited by any definition of “Cause” which appears in the Plan.  The Optionee’s agreement to the terms in this Section 5(d) are a material condition to the grant of this Option and this Option would not be granted to the Optionee if the Optionee did not agree to such terms.
    6.    The adjustment provisions set forth in Section 8 of the Plan shall apply to this Option.
    7.    This Option shall not be transferable by the Optionee, in whole or in part, except in accordance with Section 7 of the Plan, and shall be exercisable only as hereinbefore provided.  Any purported assignment, transfer, pledge, hypothecation or other disposition of the Option or any interest therein contrary to the provisions of the Plan, and the levy of any execution to, or the attachment or similar process upon, the Option or any interest therein, shall be null and void and without effect.
    8.    Subject to the applicable provisions of the Plan, and particularly to Section 7 of the Plan, this Agreement shall be binding upon and shall inure to the benefit of Optionee, Optionee's successors and permitted assigns, and the Company and its successors and assigns.
    9.    In connection with a Change in Control the Option will be treated in the manner set forth in the Plan, as such Plan has been amended by the Company’s shareholders through the date of such Change in Control.      
    10.    This Agreement shall be construed and enforced in accordance with the internal laws of the State of Rhode Island and Providence Plantations and applicable Federal law.
    11.    Notwithstanding any other terms and conditions of the Plan or this Agreement, unless there is an available exemption from any registration, qualification or other legal requirement applicable to the issuance of this Option or shares of Common Stock the Optionee may become entitled to under this Option in the future, the Company shall not be required to deliver any such securities prior to the completion of any registration or qualification of any such securities under any non-U.S. securities, exchange control or other law, or under the rulings or regulations of any governmental regulatory body, or prior to obtaining any approval or other clearance from any governmental agency, which registration, qualification or approval the 
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Company shall, in its absolute discretion, deem necessary or advisable. The Optionee understands that the Company is under no obligation to register or qualify any such securities with any non-U.S. securities commission or to seek approval or clearance from any governmental authority for the issuance or sale of any such securities. Further, the Optionee agrees that his or her participation in the trade and acceptance of such securities is voluntary and that the Company shall have unilateral authority to amend the Plan and the Agreement without the Optionee's consent to the extent necessary to comply with securities or other laws applicable to issuance of any such securities.

[Remainder of Page Intentionally Left Blank]

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    IN WITNESS WHEREOF, the Company and the Optionee have entered into this Agreement effective as of the day and year first above written.  By accepting the terms of the award represented by this Agreement through an electronic form offered by the Company, or the Company’s designee, the Optionee hereby agrees to the terms of this Agreement with the same effect as if the Optionee had signed this Agreement.  

    HASBRO, INC.

    By: /s/ Deborah Thomas
               Deborah Thomas
               Executive Vice President and Chief Financial Officer

                    By: _________________________
                    Optionee

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