Document:

<PAGE>

                                                                   EXHIBIT 10.49

                               FIFTH AMENDMENT TO

                         THE FISHER-PRICE PENSION PLAN

     WHEREAS, Mattel, Inc. ("Mattel") sponsors the Fisher-Price Pension Plan for
the benefit of eligible employees of Fisher-Price, Inc. and certain other
subsidiaries; and

     WHEREAS, the provisions of the Plan are set forth in a 1994 Restatement, as
amended by a Fourth Amendment thereto; and

     WHEREAS, Mattel desires to amend the Plan to provide a voluntary early
retirement incentive program for certain employees of Fisher-Price, Inc. and
Mattel Operation-East Aurora; and

     WHEREAS, in Section 9.1 of the Plan, Mattel reserved the right to amend the
Plan at any time in whole or in part;

     NOW, THEREFORE, to effect the foregoing, Mattel does hereby declare that
the Plan be, and hereby is, amended as follows:

     1.  Section 3.3(a) is hereby amended by restating the introductory phrases
in (a) preceding subdivision (a)(1) and adding a new subdivision (6) as follows:

          "(a)  Accrued Monthly Pension Benefit.  A Participant's accrued
                -------------------------------
     monthly pension benefit on retirement or other termination of employment
     shall be an amount equal to the sum of (1), (2) and (3) and, if applicable,
     the amount described in (4), (5) or (6) as follows:

     *  *  *  *

               (6) 2000 Retirement Incentive.  A monthly benefit amount
                   -------------------------
          calculated under Schedule G for each Participant who meets the
                           ----------
          eligibility requirements set forth in Schedule G."
                                                ----------

     2.  The following new Schedule G is added to the end of the Plan:
                           ----------

                                  "SCHEDULE G
                                   ----------

                           2000 RETIREMENT INCENTIVE

     An additional benefit under the Fisher-Price Voluntary Early Retirement
Incentive Program shall be separately calculated and payable for certain
eligible Participants as follows:

     (1) The additional benefit shall be payable only for a Participant who
meets the following requirements:
<PAGE>

          (a) As of September 11, 2000, the Participant is an employee of
     Fisher-Price, Inc. or Mattel Operations-East Aurora;

          (b) As of December 31, 2000, the Participant will have attained at
     least age 52, and completed at least five years of Vesting Service, as
     defined in Section 1.4(bb);

          (c) The Participant is not a highly compensated employee, within the
     meaning of Code Section 414(q), for the Plan Year ending December 31, 2000;
     and

          (d)  The Participant:

               (i) Terminates employment on or before December 31, 2000; and

              (ii) Submits to the Company on or before December 6, 2000 a
          written election and general release in accordance with procedures
          established by the Company that he or she will terminate employment on
          or before December 31, 2000 and does not thereafter revoke such
          election and general release.

     (2) For each Participant identified in (1) above, his or her monthly
pension benefit for all Plan purposes, except as otherwise herein provided,
shall include an "Enhanced Retirement Benefit" and a "REMBA Benefit."  An
eligible Participant's Enhanced Retirement Benefit shall be equal to the sum of
(a) and (b) below, adjusted in accordance with (c) below, and offset by (d)
below.  An eligible Participant's "REMBA Benefit" shall be equal to the amount
described in (e) below.

          (a) The Participant's accrued monthly benefit determined in accordance
     with Section 3.3 as of December 31, 2000, without regard to the provisions
     of this Schedule G.
             ----------

          (b) One-fourth (three times one-twelfth) of:

                    (i) 1.4% multiplied by the Participant's "Adjusted Incentive
               Compensation" (as defined below) up to 150.1% of Covered
               Compensation, as defined in Section 1.4(h), rounded to the next
               highest multiple of $100, for the Plan Year ended December 31,
               1999, plus

                   (ii) 1.8% multiplied by the Participant's Adjusted Incentive
               Compensation in excess of 150.1% of Covered Compensation, as
               defined in Section 1.4(h), rounded to the next highest multiple
               of $100, for the Plan Year ended December 31, 1999.

     For purposes of this paragraph (b), a Participant's "Adjusted Incentive
     Compensation" means the Participant's compensation as defined in Section
     3.3(b) for the Plan Year ended December 31, 1999 multiplied by 103%.

                                       2
<PAGE>

          (c) The sum of (a) and (b) above shall be reduced by one-half percent
     (.5%) per month for each month by which January 1, 2004 precedes the first
     day of the month coincident with or following such Participant's sixty-
     fifth (65th) birthday.

          (d) The amount determined pursuant to (a) above reduced by one-half
     percent (.5%) per month by which January 1, 2001 precedes the first day of
     the month coincident with or following such Participant's sixty-fifth
     (65th) birthday; provided, however, (i) in no event shall the amount
                      --------  -------
     determined pursuant to (a) above be reduced by more than 60% and (ii) the
     offset described in this paragraph (d) shall apply only for the period from
     and after the date the Participant attains age 55.

          (e) An additional monthly annuity benefit payable as of January 1,
     2001 which is actuarially equivalent to 130% of the lump sum amount that
     would otherwise have been credited to the Participant's REMBA Plan Account
     if the Participant had remained employed through, and retired as of,
     December 31, 2003.  For purposes of the foregoing, such lump sum amount
     shall be converted to a monthly annuity benefit based on the 1983 Group
     Annuity Mortality Table (compiled on a unisex basis weighted 50% male and
     50% female) and an interest assumption of 5.72%.

     (3) An eligible Participant's Enhanced Retirement Benefit and REMBA Benefit
shall be payable commencing effective as of January 1, 2001, without further
adjustment under Section 3.4(b).

     (4) In addition to the normal form of benefits provided under Section 4.1
and 4.2 (immediate joint and survivor annuity for married Participants and
immediate straight life annuity for unmarried Participants), the Participant may
also elect to receive his or her Enhanced Retirement Benefit and REMBA Benefit
as an immediate lump sum payment, and for married Participants as an immediate
life annuity described in Section 4.2(a), subject to the election, notice, and
waiver requirements provided for in Section 4.1 and 4.2 with respect to electing
an optional form of benefit.  An eligible Participant shall be entitled to make
separate method of payment elections for the Participant's Enhanced Retirement
Benefit and REMBA Benefit.  No other optional forms of benefits provided under
the Plan shall apply to a Participant's Retirement Benefit and REMBA Benefit.
For purposes of the foregoing, the lump sum value of an eligible Participant's
Enhanced Retirement Benefit and REMBA Benefit shall be determined using the 1983
Group Annuity Mortality Table (compiled on a unisex basis weighted 50% male and
50% female) and an interest assumption of 5.72%, the rate for 30-year U.S.
Treasury bonds for August, 2000."

     3.  The effective date of this Amendment is September 11, 2000 unless
otherwise provided.  In all other respects, the Plan shall remain unchanged.

     IN WITNESS WHEREOF, Mattel has caused this instrument to be executed by its
duly authorized officer this 13th day of October, 2000.

                                        MATTEL, INC.

                                        By: /s/ Alan Kaye
                                            -----------------------------------
                                            Alan Kaye, Senior Vice President -
                                            Human Resources<PAGE>

                                                                   EXHIBIT 10.57

                                 AMENDMENT TO
                         MATTEL 1990 STOCK OPTION PLAN

     WHEREAS, Mattel, Inc. (the "Company") has properly adopted, effective as of
May 10, 1989, and currently maintains the Mattel 1990 Stock Option Plan (the
"Plan") for the purpose of promoting the long-term success of the Company;

     WHEREAS, the Company now desires to amend the Plan to increase the number
of shares of Capital Stock that may be awarded pursuant to the Plan; and

     WHEREAS, the Company, by action of its Board of Directors, has reserved the
right to amend the Plan pursuant to Section 11 thereof, subject in certain
instances to the approval of a majority of the Company's shareholders.

     NOW, THEREFORE, pursuant to the authority granted to the Company, the Plan
is hereby amended as follows:

1.   AMENDMENT TO SECTION 4.

     Section 4 of the Plan is hereby amended in its entirety by substituting the
following therefor:

         "Up to 1% of the outstanding Capital Stock as determined on December 31
         of the preceding year shall be available for Awards granted wholly or
         partly in stock during each calendar year in which the Plan is in
         effect; provided, however, an additional 3,000,000 and 1,375,000 shares
         of Capital Stock (collectively, the "Additional Awards") shall be
         available for such Awards for the years 1993 and 1994, respectively.
         From time to time, the Board of Directors and appropriate officers of
         the Company shall take whatever actions are necessary to file required
         documents with governmental authorities and stock exchanges to make
         shares of Capital Stock available for issuance pursuant to Awards.
         Capital Stock related to Awards that are forfeited, terminated, expire
         unexercised, settled in cash in lieu of stock or in such manner, that
         all or some of the Capital Stock covered by an Award are not issued to
         a Participant, or are exchanged for Awards that do not involve Capital
         Stock, shall immediately become available for Awards. Any Capital Stock
         not so used, as well as any unused portion of the percentage limit in
         any calendar year or of the Additional Award Shares, shall be carried
         forward and available for Awards in succeeding calendar years."

2.   EFFECTIVE DATE.

     This Amendment shall become effective upon its adoption by the Company's
Board of Directors (the "Effective Date"), subject, however, to the approval of
a majority of the shareholders of the Company at a meeting held to take such
action at which a quorum is present in person or by proxy and entitled to vote.

3.   CONSTRUCTION OF AMENDMENT.

     All of the provisions of this Amendment shall be deemed to be and construed
as part of the Plan as of the Effective Date.

4.   THE PLAN.

     Except as provided herein, the Plan shall continue in full force and
effect. Unless otherwise defined herein, defined terms used but not defined
herein shall have the meaning ascribed to them in the Plan.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}]]