Document:

EX-10.5

 Exhibit 10.5 

September 23, 2003 
 Mr. Tim Kilpin 

[Personal Address Omitted] 
 Dear Tim: 

We are pleased to confirm our offer of employment beginning October 1, 2003 for the position of Senior Vice President Marketing and to outline the
various benefits that are available to you as a member of Mattel’s executive team. 
 COMPENSATION 

Salary 
 Your annual base salary will be $500,000
payable on a biweekly basis. You will be eligible for merit increase consideration annually. 
 Signing Bonus 

You will receive a signing bonus in the amount of $200,000, less applicable federal and state taxes, to be paid no later than 30 days following your date of
hire. If you choose to voluntarily terminate your employment within eighteen (18) months from your date of hire, you will be required to repay this amount in full. 

Mattel Incentive Plan 
 You will be eligible to
participate in the 2003 Mattel Incentive Plan (MIP). The MIP is a performance based annual bonus plan, driven by the financial results of the company and your individual performance. Your target MIP award is 45% of your year-end base
salary; however, the amount of your actual award may be more or less than your target, depending on the financial performance of the Company and the impact of your individual contributions. The Company must achieve a minimum
financial performance goal before an award pool is generated. For 2003, your award will be pro-rated based on your hire date. Awards are paid during the first quarter of the following year. 

Long-Term Incentive Plan 
 You will be recommended
to the Board of Directors’ Compensation/Options Committee for participation in the Long-Term Incentive Plan 2003 – 2006 cycle with a target incentive opportunity of $500,000 and a maximum incentive opportunity of $1,000,000. This plan is
designed to reward executives for creating sustained profitable business growth as measured by a specific financial objective. 

 Tim Kilpin 
 
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 Stock Options 

You will receive an initial stock option grant in the amount of 30,000 shares, subject to approval by Mattel’s Board of Directors’
Compensation/Options Committee. Your new hire stock option will be submitted at the next available Compensation/Options Committee meeting. The exercise price will equal the closing price of Mattel, Inc. common stock on the last trading day of the
month in which the Committee approves it. If you remain employed by Mattel, Inc., the stock options will generally vest in semi-annual installments over the three-year period following the date of grant: 10% after the first six months, 10% after the
second six months, and 20% after each six months thereafter. 
 Car Allowance 

You will be eligible to receive a monthly auto allowance in the amount of $1,250 for all your automobile expenses. 

Deferred Compensation 
 As an executive, you will
be eligible to participate in the Company’s Deferred Compensation Plan. Under this plan, you may elect to defer a portion of your salary or bonus, with various investment and payment options available. 

BENEFITS 
 The following is a brief outline
of benefits in which you will be eligible to participate in as of your date of hire. 
 You and your qualified dependents, if applicable, will be eligible
for the following coverages: 
  

			
	 •    Medical
	  	 •    Life Insurance – 2 x base salary

		
	 •    Dental
	  	 •    Accidental Death & Dismemberment – 2 x base salary

		
	 •    Vision
	  	 •    Business Travel Coverage – $1,000,000

		
	 •    Prescription
	  	 •    Short & Long-Term Disability

 Tim Kilpin 
 
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 You will be enrolled in the Mattel Personal Investment Plan (PIP), which is a 401(k) savings/retirement plan.
The plan offers both Company Automatic and Matching contribution provisions as outlined below: 
  

	 	•	 	Company Automatic Contributions 

 The Company will make automatic contributions to your
account ranging from 3% to 8% of your salary, based on age. 
  

	 	•	 	Company Matching Provision 

 The Company will match up to the first 6% of pay you
contribute to your PIP account on a dollar-for-dollar basis up to 2% of your annual salary and on a fifty-cents-on-the-dollar basis for up to the next 4% of your salary. 

As an executive, you will be eligible for an annual, comprehensive physical examination at the Company’s expense. 

SEVERANCE ARRANGEMENT 
 In the event your employment is
involuntarily terminated from Mattel for reasons other than for cause*, you will be provided with severance payments equal to eighteen months of base salary. In the event you have not secured employment (which includes full-time, part-time or
temporary employment or work as a consultant or independent contractor) at the end of the eighteen month period, the installment payments will continue for an additional period, up to the date you secure employment, but not later than six months.
Receipt of the severance payments is contingent upon your signing and not revoking a Separation Agreement and General Release at the time of your termination in substantially the same format as Attachment “A” incorporated herein, which
separation agreement will in any event, include a general release and a promise not to engage in certain employment for a period of 12 months. 
 Of course,
this offer is contingent upon satisfactory verification of all information as to previous employers and academic institutions attended, eligibility to work in the United States and the signing of an employee Confidential Information and Inventions
Agreement. 
 Specific compensation and benefits details and plan limitations are provided in Summary Plan Descriptions or Plan Documents and are subject to
periodic modification and revision. 
 You understand that this letter does not imply employment for a specific term and thus your employment is at will;
either you or the Company can terminate it at any time, with or without cause. . This statement is the entirety of your agreement with the Company on the subject of the duration of your employment. This letter acknowledges there are no oral or
written side agreements or representations concerning the term or conditions of employment. Additional details of your employment relationship are contained in our Employment Application. 

 
  

	*	For purposes of this offer letter, “cause” shall include: (i) refusing to follow the Company’s lawful directions or materially failing to perform the services required (other than by reason of
physical or mental illness, injury, or condition); (ii) materially failing to comply with any Company policies; or (iii) engaging in conduct that is or may be unlawful or disreputable, to the possible detriment of the Company or its
subsidiaries and affiliates, or your own reputation. 

 Tim Kilpin 
 
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 Tim, we are sincerely pleased to extend this offer of employment to you. 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. 
 Sincerely, 

/s/ Alan Kaye 
 Alan Kaye 

Senior Vice President Human Resources 
  

			
	Agreed and Accepted:
		
	/s/ Tim Kilpin	 	  10/8/03
	  

	Tim Kilpin	 	            DateEX-10.21

 EXHIBIT 10.21 

AMENDMENT ONE 
 to the

 MATTEL, INC. PERSONAL INVESTMENT PLAN 

THIS AMENDMENT ONE (this “Amendment”) is executed this 17th day of December,
2013, by Mattel, Inc. (the “Company”). 
 Statement of Purpose 

The Company maintains the Mattel, Inc. Personal Investment Plan (the “Plan”) as amended and restated effective as of January 1,
2013. The Company desires to amend the Plan to (i) define the term “spouse,” (ii) clarify certain withdrawal options from the Roth Account, (iii) clarify how forfeitures may be used under the Plan, and (iv) set forth
the statute of limitations for claims, and the Plan’s right of recovery for overpayments. In Article XVI of the Plan, the Company has reserved the right to amend the Plan in whole or in part. 

NOW, THEREFORE, the Company does hereby declare that the Plan is amended effective as of January 1, 2013, unless otherwise specifically
stated herein, as follows: 
 1. The following new Section 2.39A shall be added to Article II Definitions to add a definition of
“spouse,” and all references in the Plan to a “spouse” shall be deemed to refer to this definition effective as of September 16, 2013: 

“2.39A     Spouse. 

“Spouse” means the person to whom the Participant is legally married under the laws of any state, territory or
possession of the United States or of any foreign country including a same-sex spouse or common law spouse if permitted under state law.” 

2. Section 8.6(i) shall be deleted in its entirety and replaced with the following: 

“(i) Withdrawal for Participant in the Uniformed Services. During any period the Participant is performing service
in the uniformed services described in Code Section 3401(h)(2)(A), such Participant shall be eligible to elect to receive a withdrawal from the Participant’s Before-Tax Contributions Account or Roth Contribution Account prior to attaining
age 59 1⁄2. Such distribution shall be limited to the amount credited to the Participant’s Before-Tax Contributions Account plus the Participant’s
Roth Contributions Account minus any earnings credited to such accounts after December 31, 1988. If a Participant elects to receive a distribution in accordance with this subparagraph, the Participant may not make Before-Tax Contributions, Roth
Contributions or After-Tax Contributions during the 6-month period beginning on the date of distribution.” 

 3. The first sentence of Section 8.14 shall be revised to read as follows: 

“Amounts forfeited in accordance with Section 8.5(d) shall be applied as soon as possible to reduce future Company
Contributions and Company Matching Contributions, to pay Plan expenses, or to make corrective contributions and earnings to the Plan to the extent that such contributions are not qualified non-elective contributions.” 

4. The following new Section 9.19 shall be added to the Plan: 

“9.19     Right of Recovery for Overpayment or Payment Made in Error. 

If the Plan erroneously makes distributions or other payments that exceed the amount to which a Participant or Beneficiary is
entitled at any time under the Plan, the Plan shall have the right to recover the excess amount from any persons to, or for, or with respect to whom such excess payments were made. As a condition of receiving benefits under the Plan, each
Participant agrees and understands that they have an obligation to pay to the Plan any payments that exceed the amount to which the Participant is entitled. The Plan has an equitable lien on the amount paid in excess of the amount to which a
Participant is entitled, and the equitable lien shall also attach to any money or property that is obtained with amounts paid in excess of the amount to which a participant is entitled. The recovery of excess payments may also include a
reduction of future benefit payments available to the Participant or Beneficiary under the Plan. The Plan’s right to recover excess payments includes the right to initiate legal action. If the Plan takes legal action to enforce its right
to reimbursement of excess payments, the Plan shall be entitled to recover its attorneys’ fee and costs.”
 5. The following
sentence shall be added to the end of Section 13.3: 
 “After exhausting the remedies and procedures detailed in this
Section 13.3 for a review of claims, a Participant may elect to file a legal claim for action in federal court. A Participant must take all legal action pertaining to a claim within one (1) year after the date the Committee has made a
final determination of the claim in accordance with the applicable claims review procedures in this Section 13.3.” 
 6. Except as
expressly or by necessary implication amended hereby, the Plan shall continue in full force and effect. 
 IN WITNESS WHEREOF, the Company
has caused this Amendment to be executed as of the day and year first above written. 
  

			
	MATTEL INC.
		
	By:	 	 /s/ Alan Kaye

		 	Alan Kaye
		 	Executive Vice President
		 	Chief Human Resources Officer

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