Document:

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                                                                   EXHIBIT 10.60

                                 MATTEL, INC.
                                FIRST AMENDMENT
                                      TO
                                AWARD AGREEMENT

       This First Amendment to Award Agreement (this "Amendment") is made and
entered into as of May 11, 1993, by and between ___________________________
("Grantee"), and Mattel, Inc. ("Mattel"), with reference to the following facts:

       A.   Grantee and Mattel are parties to the Award Agreement dated February
12, 1991 (the "Award Agreement"), pursuant to which Grantee was awarded Stock
Appreciation Rights under the Mattel 1990 Stock Option Plan.

       B.   Grantee and Mattel desire to amend the Award Agreement to reflect
the 5 for 4 and 3 for 2 stock splits which have occurred since the date of the
Award Agreement and to reflect the agreement reached on May 11, 1993, to change
the leverage formula of the Stock Appreciation Rights for stock prices above
$26.67.

       C.   Grantee and Mattel desire further to amend the Award Agreement to
provide a new method of selecting the comparison Mattel stock price for
valuation of the Stock Appreciation Rights if certain financial performance
tests are met for fiscal years 1994 and 1995.

       For good and valuable consideration, receipt of which is hereby
acknowledged, the parties agree as follows:

          1.   The first sentence of Section 1 of the Award Agreement is amended
and restated in its entirety to read as follows:

               "The number of Stock Appreciation Rights ("Units") awarded
hereunder is ______________."

          2.   The first sentence of Section 4 of the Award Agreement is amended
and restated in its entirety to read as follows:

          "Units shall become vested as follows:

               (a)  ____________ Units on March 15, 1995,

               (b)  ____________ Units on March 15, 1996."

          3.   Section 6 of the Award Agreement is amended
and restated in its entirety to read as follows:
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        "For purposes of determining Unit Value the following additional
definitions shall apply:

          a)   Fair Market Value shall be the average of the closing prices of
               the Common Stock as recorded on the New York Stock Exchange
               Composite Tape for the 20 trading days next preceding the
               Valuation Date (the "Recent Average Price"); provided, however
               that if either

               (i)  Mattel achieves a Cash Flow Return on Investment of 25% for
               the year ended December 31, 1994, for determining Unit Value on
               the first Valuation Date, or the year ended December 31, 1995,
               for determining Unit Value on the second Valuation Date, as the
               case may be; or

               (ii) the closing price of the Common Stock on the New York Stock
               Exchange on any trading day during the fourth calendar quarter of
               1994, for determining Unit Value on the first Valuation Date, and
               on any trading day during the fourth calendar quarter of 1995,
               for determining Unit Value on the second Valuation Date, as the
               case may be, is equal to or greater than an amount equal to the
               product of 5% multiplied by the Standard & Poors 400 Index;

          then "Fair Market Value" shall be an amount equal to the greater of
          (X) the Recent Average Price, and (Y) the product of 90% multiplied by
          the average closing price of Common Stock for whichever period of 20
          consecutive trading days between the date of this Award Agreement and
          the Valuation Date has the highest average closing price for the
          period.

          b)   Initial Unit Value shall be the amount, if any, by which the Fair
               Market Value exceeds the Initial Value.

          c)   Cash Flow Return on Investment shall mean the consolidated cash
               flow return on investment of Mattel as calculated by the chief
               financial officer of Mattel based upon the annual consolidated
               financial statements of Mattel in accordance with the methodology

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              approved by the Compensation/Options Committee of the Board of
              Directors.

          d)  Unit Value shall be the following amounts:

              (i)    If the Initial Unit Value is $2.6667 or less, the Unit
              Value shall be an amount determined by multiplying the Initial
              Unit Value by .5;

              (ii)   If the Initial Unit Value is more than $2.6667 but less
              than or equal to $5.3333, the Unit Value shall be an amount equal
              to $1.3333 plus an amount determined by multiplying the amount of
              the Initial Unit Value in excess of $2.6667 by 1.0;

              (iii)  If the Initial Unit Value is more than $5.3333 but less
              than or equal to $8.0000, the Unit Value shall be an amount equal
              to $4.0000 plus an amount determined by multiplying the amount of
              the Initial Unit Value in excess of $5.3333 by 1.5;

              (iv)   If the Initial Unit Value is more than $8.0000, but less
              than or equal to $10.6667, the Unit Value shall be an amount equal
              to $8.0000 plus an amount determined by multiplying the amount of
              the Initial Unit Value in excess of $8.0000 by 2.0;

              (v)    If the Initial Unit Value is more than $10.6667, but less
              than or equal to $13.3333, the Unit Value shall be an amount equal
              to $13.3333 plus an amount determined by multiplying the amount of
              the Initial Unit Value in excess of $10.6667 by 2.5;

              (vi)   If the Initial Unit Value is more than $13.3333, but less
              than or equal to $16.0000, the Unit Value shall be an amount equal
              to $20.0000 plus an amount determined by multiplying the amount of
              the Initial Unit Value in excess of $13.3333 by 1.5;

              (vii)  If the Initial Unit Value is more than $16.0000, but less
              than or equal to $18.6667, the Unit Value shall be an amount equal
              to $24.0000 plus an amount determined by

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              multiplying the amount of the Initial Unit Value in excess of
              $16.0000 by 1.5;

              (viii)  If the Initial Unit Value is more than $18.6667, but less
              than or equal to $21.3333, the Unit Value shall be an amount equal
              to $28.0000 plus an amount determined by multiplying the amount of
              the Initial Unit Value in excess of $18.6667 by 2.0;

              (ix)    If the Initial Unit Value is more than $21.3333, but less
              than or equal to $24.0000, the Unit Value shall be an amount equal
              to $33.3333 plus an amount determined by multiplying the amount of
              the Initial Unit Value in excess of $21.3333 by 2.0;

              (x)     If the Initial Unit Value is more than $24.0000 the Unit
              Value shall be an amount equal to $38.6667 plus an amount
              determined by multiplying the amount of the Initial Unit Value in
              excess of $24.0000 by 2.5."

          4.  Paragraph (c) of Section 7 of the Award Agreement is amended and
restated in its entirety to read as follows:

          "c) Change of Control - All Units shall become vested on the
          Distribution Date as that term is defined in the Company's Rights
          Agreement dated as of February 7, 1992 ("Rights Agreement"), or, if
          the Rights Agreement has terminated or the Rights have been redeemed,
          on the date the Distribution Date would have occurred under Section 3
          of the Rights Agreement had the Rights Agreement not terminated or the
          Rights not been redeemed."

          5.  The foregoing changes shall be effective as of May 11, 1993. All
other terms and provisions of the Award Agreement shall remain unchanged.

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          IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first above written.

GRANTEE:                           MATTEL, INC.

____________________               By:    ________________
                                   Title: ________________

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                                                                   EXHIBIT 10.61

                                  MATTEL,INC.
                       NOTICE OF GRANT OF STOCK OPTIONS
                              AND GRANT AGREEMENT

[Name of Optionee]
__________________________
[Address of Optionee]
__________________________
[City, State and Zip Code]
__________________________

You have been granted options to buy Mattel, Inc. Common Stock as follows:

    Non-Qualified Stock Option Grant No.    _________
    Date of Grant                           02/10/94
    Stock Option Plan                       1990
    Option Price per Share                  $24.62500
    Total Number of Shares Granted          _________
    Total Price of Shares Granted           $________

By your signature and Mattel, Inc.'s signature below, you and Mattel, Inc. agree
that these options are granted under and governed by the terms and conditions of
the stock option agreement referenced in the "Grant Agreement," which agreement
is attached and made a part of this document.

    IMPORTANT:  READ THE GRANT AGREEMENT AND INDICATE YOUR:

_______________________             ______________________
Full Legal Name (print)             Social Security Number

Current Address:
                  ________________________________________

                  ________________________________________

MATTEL, INC.

By:
   _________________________

____________________________
Optionee

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