Document:

EX-10.4

 Exhibit 10.4 

April 15, 2015 
 Mr. Christopher Sinclair 

c/o Mattel, Inc. 
 333 Continental Boulevard 

El Segundo, California 90245 
 Dear Chris, 

We are pleased to offer you the position of Chief Executive Officer of Mattel, Inc. (the “Company” or “Mattel”), effective as of
April 2, 2015. You will continue to serve as Chairman of the Board of Directors of Mattel (the “Board”). As Chief Executive Officer of Mattel (“CEO”), you will report directly to the Board. This letter summarizes your
compensation and benefits in connection with your position as CEO. 
 BASE SALARY 

Effective April 13, 2015, your annualized base salary for service as CEO will be $1,500,000, 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 be eligible to participate in the Mattel Incentive Plan (MIP), which is our way of rewarding our employees for achieving success. The MIP is an
annual, cash bonus plan that provides employees the opportunity to earn an award based on Mattel’s financial performance. Your MIP award opportunity is the following percentages of your eligible earnings: target of 150% and maximum of
300%; however, the amount of your actual award, if any, may be more or less than your target depending on Mattel’s financial results pursuant to the terms of the MIP and the performance targets established by the Compensation Committee of the
Board. Mattel, Inc. must achieve a minimum financial performance goal before an award pool is generated. Your 2015 MIP payout, if any, will be prorated for the period you served as CEO of Mattel (April 2, 2015 through December 31, 2015).
Awards are typically paid during the first quarter of the following year. If your employment as CEO terminates prior to the end of a fiscal year, you will receive a pro-rata portion of the MIP bonus that would have been payable if you had served as
CEO through the payment date for such MIP bonus, based on the number of days in the fiscal year you 

 
were CEO and payable at the regular payout date during the first quarter following the end of such fiscal year. 

SPECIAL EQUITY GRANT  
 You will receive a special equity
grant in the form of stock options with a grant value of $5,000,000 and a grant date of April 13, 2015. The grant value of the stock options will be converted into a number of option shares using a Black-Scholes valuation method utilizing the
closing stock price on the date of grant. The stock option grant will generally vest in annual installments over the three-year period following the date of the grant: 33% on the first anniversary of the grant, 33% on the second anniversary of the
grant, and 34% on the third anniversary of the grant, subject to your continued service with the Company through the vesting date as an employee or as a director of Mattel. The exercise price of the stock options will equal the closing price of
Mattel, Inc. common stock on the date of grant. 
 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 2015 annual equity grant program. Beginning in 2016, you will be eligible to participate in the annual equity
grant program. 
 SPECIAL TRANSITION/MOBILITY ALLOWANCE 

You will continue to 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. Your entitlement to this benefit ceases as of the end of the month in which you cease to be CEO. 

PERSONAL USE OF PRIVATE AIRCRAFT 
 You will continue be
eligible for periodic personal use of a private aircraft up to a maximum of 25 flight hours per year. Your eligibility for this benefit will terminate on the date you cease to be CEO. 

FINANCIAL COUNSELING 
 You will continue to be eligible to
receive reimbursement from Mattel of up to $10,000 per year for each year in which you are CEO, less applicable federal and state taxes and other required withholdings, for financial counseling services through a company of your choice. 

EXECUTIVE PHYSICAL 
 As CEO, you will continue to be
eligible to receive a comprehensive physical examination annually. 

  
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 SEVERANCE 

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

BENEFITS 
 You will continue to participate in
Mattel’s benefit programs to the extent eligible as CEO. 
 STOCK OWNERSHIP 

As CEO, you will be subject to stock ownership guidelines based on a multiple of base salary. Your stock ownership requirement will be six times your base
salary. You must meet this requirement by March 31, 2020. 
 GENERAL INFORMATION 

The terms of this 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. This letter constitutes the entire agreement regarding the terms of your new position, and it supersedes any other promises, warranties, representations or agreements, whether written
or oral. You will continue to be bound by Mattel’s Code of Conduct and Company policies and your Employee Confidentiality and Inventions Agreement. 

This 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. 
 Chris, we are sincerely pleased to provide you
with this letter detailing the terms of your compensation for your new role as CEO. 
 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. 

  
 3 

 If I can answer any questions, please do not hesitate to call me. 

 

	
	Sincerely,
	
	 /s/ Alan Kaye

	Alan Kaye
	Executive Vice President & Chief Human Resources Officer

  

	
	 Agreed and Accepted:
  

/s/ Christopher Sinclair
                                     6/8/15

	Christopher Sinclair
                                         
   DateEX-10.5

 Exhibit 10.5 

May 15, 2015 
 Geoff M. Massingberd 

c/o MEGA Brands Inc. 
 4505 Hickmore 

Montreal, QC 
 CANADA 

H4T 1K4 
 Dear Geoff, 

This letter (this “Letter Agreement”) memorializes our discussions with respect to your upcoming separation of employment
(the “Separation”) with certain subsidiaries (the “Company”) of Mattel, Inc. (“Mattel”) on August 31, 2015 (the “Termination Date”), including with respect to your employment
through the Termination Date and with respect to the application of certain terms of the Mattel, Inc. Executive Severance Plan B (the “Severance Plan”) and the participation letter relating to the Severance Plan, dated as of
July 10, 2014, between you and Mattel (the “Participation Letter”). This Letter Agreement also serves as notice to you pursuant to Section 15 of the Severance Plan; and, you specifically agree and acknowledge to waive the
requirement in Section 2(f) that the Termination Date be no more than fifteen (15) days after the actual receipt of the notice of termination. 

Service Through The Termination Date. You shall cease to serve as Chairman and President of MEGA Brands Inc., effective June 30,
2015. From July 1, 2015 through the Termination Date, you shall be an Executive Advisor, reporting to the Chief Executive Officer of Mattel or his designee, with such duties as shall reasonably be requested of you by the Chief Executive Officer
or his designee. Pursuant to the terms of the Severance Plan, you will be eligible to receive a pro-rated annual bonus that you would have received under the Mattel Incentive Plan (the “MIP”) for fiscal year 2015, if any, as if you
had remained employed through the regularly scheduled payment date for such MIP bonus, based on the number of days in fiscal year 2015 you were employed with the Company, payable following the end of fiscal year 2015 in accordance with the
applicable terms of the MIP and the Severance Plan. 
 Severance Benefits. For purposes of the Severance Plan, the Separation is
currently deemed 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”) in substantially the form attached as Exhibit A to the Participation Letter (and the Release becoming irrevocable within 55 days
of the Termination Date). 

 Tax Equalization & Tax Return Preparation Assistance. In order to finalize
any tax issues relating to your assignment to Canada, you will be provided with US and Canadian tax return preparation services for 2015 and 2016. These services will be provided by Mattel’s designated tax services provider (currently
KPMG). In addition, Mattel’s designated tax service provider will prepare tax equalization settlement calculations for each year in accordance with the terms of Mattel’s Tax Equalization Practice. Any final settlement due between
Mattel and yourself should be settled within 60 days of the tax equalization settlement calculation being finalized and provided to you. If it is determined that you have trailing compensation reportable in Canada beyond 2016, the Tax
department will authorize tax return preparation for additional years and Mattel’s Tax Equalization Practice will continue to be applied. Please contact Mattel’s Tax Department if you have any questions relating to either
Mattel’s Tax Equalization Practice or the tax preparation services to be provided to you. 
 Resignation From All Positions. You
agree to tender your resignation from any and all positions you occupy as an officer or director of the Company, effective as of June 30, 2015, by signing the resignation letter in the form of Exhibit A to this Agreement and returning it to me
along with this Agreement. 
 Severance Plan. You agree and acknowledge that the Severance Plan and your Participation Letter remain
in full effect and that this Letter Agreement shall not interfere with or restrict the right of the Company to discharge you for Cause (i.e., if your employment terminates for any reason other than a Covered Termination prior to August 31,
2015, you acknowledge that you will not be eligible for the severance benefits under the Severance Plan). 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 2012 Employee Confidentiality
and Inventions Agreement (effective May 1, 2012) (the “2012 Agreement”) or any agreement superseding the 2012 Agreement (collectively, the “Agreements”) constitute the full understanding of you, Mattel 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 Mattel,
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 Mattel. 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. 

  
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	Sincerely,
	
	 Mattel, Inc.

		
	By:	 	 /s/ Alan Kaye

		 	Alan Kaye
		 	Executive Vice President, Chief Human Resources Officer

  

	
	 Acknowledged and Agreed:
  

/s/ Geoff M. Massingberd

	Geoff M. Massingberd

  
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 Exhibit A 

Date:
                             

Mattel, Inc. 
 333 Continental Boulevard 

El Segundo, California 90245 
  

	 	Re:	Resignation from director and officer positions with Mattel subsidiaries 

 Ladies and Gentlemen: 

I hereby resign from any position I occupy as a director or officer of any direct or indirect subsidiary of Mattel, Inc., effective as of June 30, 2015.

  

	
	Very truly yours,
	
	Signature:
                                         
                   
	
	Name:
                                         
                        

  
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