Document:

Form of Option Grant Agmt(Netherlands/99 Plan)

EXHIBIT 10.80 
 
[Netherlands Resident: Option Grant Agreement under 1999 Plan] 
 
Grant Agreement for a 
Non-Qualified Stock Option 
under the 
Mattel 1999 Stock Option Plan 
 
This is a Grant Agreement between Mattel, Inc. (the “Company”) and the individual (the “Option
Holder”) named in the Notice of Grant of Stock Option (the “Notice”) attached hereto as the cover page of this agreement. 
 
Recitals 
 
The Company has adopted the Mattel 1999 Stock Option Plan (the “Plan”) for the granting to selected employees of options to purchase
shares of Common Stock of the Company. In accordance with the terms of the Plan, the Compensation/Options Committee of the Board of Directors (the “Committee”) has approved the execution of this Grant Agreement between the Company and the
Option Holder. Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Plan. 
 
Option 
 
1.    Terms.    The Company grants to the Option Holder the right and option (this
“Option”) to purchase on the terms and conditions hereinafter set forth, all or any part of the aggregate number of shares of Common Stock set forth in the Notice, exercisable in accordance with the provisions of this Option during a
period expiring on the date (the “Expiration Date”) that is ten years after the effective date of the grant (the “Grant Date”), as specified in the Notice, unless terminated prior to the Expiration Date pursuant to Section 5 or 6
below. This Option is a Non-Qualified Stock Option. 
 
2.    Exercisability (Vesting).    The Option Holder may not purchase shares while he/she is a resident of THE NETHERLANDS or until the 5th anniversary of this grant. If the Option Holder is no longer a resident of THE NETHERLANDS, he/she may purchase the following percentages of the shares of Common
Stock set forth in the Notice on or after the vesting dates set forth below; provided that the Option Holder is employed by the Company or one of its Subsidiaries on the applicable vesting date: 
 

	 Vesting Date

	    	 Cumulative Percent of Shares Subject to this Option
 Vested on Such Date

	 Six months after the Grant Date
	    	 10%

	 One year after the Grant Date
	    	 20%

	 18 months after the Grant Date
	    	 40%

	 Two years after the Grant Date
	    	 60%

	 30 months after the Grant Date
	    	 80%

	 Three years after the Grant Date
	    	 100%

 

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provided, however, that the Option Holder may purchase 100% of the shares of Common Stock set forth in
the Notice on or after the date the Option Holder’s employment is terminated by reason of his or her Retirement; provided, further, that the date of such termination is at least six (6) months after the Grant Date. 
 
The number of shares that may be purchased upon exercise of this Option
shall in each case be calculated to the nearest full share. 
 
3.    Method of Exercising.    Each exercise of this Option shall be by means of a written notice of exercise delivered to the office of the Secretary of the Company, specifying
the number of whole shares to be purchased, accompanied by payment of the full purchase price of the shares to be purchased. The payment shall be in the form of cash or such other forms of consideration as the Committee shall deem acceptable, such
as the surrender of outstanding shares of Common Stock owned by the Option Holder or by withholding shares that would otherwise be issued upon the exercise of the Option. The Option Holder may exercise this Option by the delivery to the Company or
its designated agent of an irrevocable written notice of exercise form together with irrevocable instructions to a broker-dealer to sell or margin a sufficient portion of the shares of Common Stock and to deliver the sale or margin loan proceeds
directly to the Company to pay the exercise price of this Option. Furthermore, in the event that the Company establishes, for itself or using the services of a third party, an automated system for the exercise of stock options, such as a system
using an internet website or interactive voice response, then the paperless exercise of this Option may be permitted through the use of such an automated system, subject to appropriate limitations on exercises by Insiders. 
 
4.    Withholding.    Upon exercise, the Option Holder shall pay, or make provisions satisfactory to the Company or its Subsidiary for payment of any federal, state and local
taxes required to be withheld. 
 
5.    Cancellation of Grants.    The Option Holder specifically acknowledges that this Option is subject to the provisions of Section 20 of the Plan, entitled “Cancellation
of Grants,” which can cause the forfeiture of this Option, or the rescission of Common Stock acquired upon the exercise of this Option. As a condition of the exercise of this Option, the Option Holder shall certify on a form acceptable to the
Committee that he or she is in compliance with the terms and conditions of the Plan, including Section 20 thereof, entitled “Cancellation of Grants.” 
 
6.    Term.    Any portion of this Option that is not exercisable pursuant to Section 2 on the
date upon which the Option Holder’s employment with the Company and its Subsidiaries terminates shall terminate immediately upon the termination of the Option Holder’s employment with the Company and its Subsidiaries. Any portion of this
Option that is exercisable on the date upon which the Option Holder’s employment with the Company and its Subsidiaries terminates shall terminate ninety (90) days after the Option Holder ceases to be an employee of the Company or one of its
Subsidiaries for any reason other than as described below. In no event, however, may the Option or any portion of the Option be exercised after the Expiration Date. 
 

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i.  If the Option Holder’s employment is terminated by reason of death, then the Option Holder’s beneficiary or beneficiaries (as designated in the manner determined by the Committee), or if no beneficiary is so
designated or if no beneficiary survives the Option Holder, then the Option Holder’s administrator, executor, personal representative, or trustee of a trust holding the Option, or other person to whom the Option has been transferred by means of
the Option Holder’s will or the laws of descent and distribution, shall be able to exercise this Option, to the extent vested at the time of the Option Holder’s death, until the earlier of (a) one (1) year following the death of the Option
Holder or (b) the Expiration Date. 
 
ii.  If the Option Holder’s employment is terminated by reason of his or her becoming Disabled, the Option Holder will be able to exercise this Option, to the extent vested at the time of such termination, until the
earlier of (a) one (1) year following termination of employment or (b) the Expiration Date. 
 
iii.  If the Option Holder’s employment is terminated by reason of his or her Retirement, the Option Holder will be
able to exercise this Option, to the extent vested at the time of Retirement, until the earlier of (a) five (5) years following termination of employment or (b) the Expiration Date. 
 
iv.  If the Option Holder’s employment is terminated for Cause, the unexercised portion
of this Option shall terminate immediately as of such termination for Cause. 
 
v.  Notwithstanding any provision in this Section 6 or Section 20 of the Plan to the contrary, if the Option Holder’s employment is terminated other than for Cause during the 18-month period
following a Change in Control, the Option Holder will be able to exercise this Option, to the extent this Option is exercisable on the date of the termination of the Option Holder’s employment (or on such accelerated basis as the Committee may
determine), until the earlier of (a) the longer of (i) two (2) years following termination of employment or (ii) such other period as may be provided in the Plan for such termination of employment, or (b) the Expiration Date. 
 
7.    Compliance with
Law.    No shares issuable upon the exercise of this Option shall be issued and delivered unless and until all applicable registration requirements of the Securities Act of 1933, as amended, all applicable listing
requirements of any national securities exchange on which the Common Stock is then listed, and all other requirements of law or of any regulatory bodies having jurisdiction over such issuance and delivery, shall have been complied with. In
particular, the Committee may require certain investment (or other) representations and undertakings in connection with the issuance of securities in connection with the Plan in order to comply with applicable law. 
 
8.    Assignability.    Except as may be effected by designation of a beneficiary or beneficiaries in such manner as may be determined by the Committee, or 
 

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as may be effected by will or by the laws of descent and distribution, any attempt to assign this Option shall be of
no effect. 
 
9.    Certain
Corporate Transactions.    In the event of certain corporate transactions, this Option shall be subject to adjustment as provided in Section 18 of the Plan. In the event of a Change in Control, this Option shall be
subject to the provisions of Section 19 of the Plan. 
 
10.    No Additional Rights.    Neither the granting of this Option nor its exercise shall (a) confer upon the Option Holder any right to continue in the employ of the Company,
(b) interfere in any way with the rights of the Company or a Subsidiary to terminate such employment at any time for any reason, with or without Cause, or (c) interfere with the right of the Company or a Subsidiary to undertake any lawful corporate
action. The Option Holder acknowledges that he or she is an “employee at will.” The provisions of this Section 10 are subject to the terms of any employment agreement between the Option Holder and the Company (or a Subsidiary).

 
11.    Rights as a
Stockholder.    Neither the Option Holder nor any other person legally entitled to exercise this Option shall be entitled to any of the rights or privileges of a stockholder of the Company in respect of any shares
issuable upon any exercise of this Option unless and until a certificate or certificates representing such shares shall have been actually issued and delivered to the Option Holder. 
 
12.    Compliance with Plan.    This Option is subject to, and
the Company and the Option Holder agree to be bound by, all of the terms and conditions of the Plan as it shall be amended from time to time. No amendment to the Plan shall adversely affect this Option without the consent of the Option Holder. In
the case of a conflict between the terms of the Plan and this Option, the terms of the Plan shall govern. 
 
13.    Governing Law.    This Option has been granted, executed and delivered with effect from
the Grant Date, at El Segundo, California, and interpretation, performance and enforcement of this Option shall be governed by the laws of the State of Delaware. 
 

4<PAGE>
City National Bank                                                Exhibit 10.4.1

                                                                  Revolving Note
                                                        (INTEREST TIED TO PRIME)

                                                           Note No. 655355/00003
$4,800,000.00                               Westside Commercial Banking Services
                                                       Beverly Hills, California
                                                                February 1, 2003

     On February 1, 2007, the undersigned, GW Services, Inc. a California
corporation ("Borrower"), promises to pay to the order of City National Bank, a
national banking association ("CNB"), at its office in this city, in lawful
money of the United States of America and in immediately available funds, the
principal sum of Four Million Eight Hundred Thousand Dollars ($4,800,000.00), or
so much thereof as may be advanced and be outstanding, with interest thereon to
be computed on each advance from the date of its disbursement at a rate computed
on the basis of a 360-day year, actual days elapsed, equal to the Prime Rate of
CNB, as it exists from time to time, plus one and one half percent (1 1/2%) per
year. "Prime Rate" shall mean the rate most recently announced by CNB at its
principal office in Beverly Hills, California, as its "Prime Rate". Any change
in the Prime Rate shall become effective on the same business day on which the
Prime Rate shall change, without prior notice to Borrower.

     All or any portion of the principal of this Note may be borrowed, repaid
and reborrowed from time to time prior to maturity, provided at the time of any
borrowing no Event of Default (as herein defined) exists, and provided further,
that the total borrowings outstanding at any one time shall not exceed the
Revolving Credit Commitment. Each borrowing and repayment hereunder shall be
noted in the books and records of CNB. The excess of borrowings over repayments
shall evidence the principal balance due hereon from time to time and at any
time. Borrowings hereunder shall be conclusively presumed to have been made to
or for the benefit of Borrower when made as noted in such books and records.

     The Revolving Credit Commitment shall be Four Million Eight Hundred
Thousand Dollars ($4,800,000.00) reduced by $300,000.00 on each February 1, May
1, August 1, and November 1 of any year beginning May 1, 2003.

     Interest accrued on this Note shall be payable on the first day on each
month, commencing February 1, 2003.

     An Unused Facility Fee equal to one half of one percent (1/2%) of the
average daily difference between the Revolving Credit Commitment and loans
outstanding shall be payable, in arrears, on each February 1, May 1, August 1,
and November 1, within ten (10) days of receipt of billing.

     The occurrence of any of the following with respect to any Borrower or any
guarantor of this Note or any general partner of such Borrower or guarantor,
shall constitute an "Event of Default" hereunder if not cured within 10 days,
written notice thereof;

1.   The failure to make any payment of principal, interest or Unused Facility
     Fee when due under this Note;
2.   The failure to reduce the outstanding principal balance to the amount of
     the Revolving Credit Commitment;
3.   The filing of a petition by or against any of such parties under any
     provisions of the Bankruptcy Code;
4.   The appointment of a receiver or an assignee for the benefit of creditors;

                                       -1-

<PAGE>

5.   The commencement of dissolution or liquidation proceedings or the
     disqualification of any such parties which is a corporation, partnership,
     joint venture or any other type of entity;
6.   The revocation of any guaranty of this Note, or any guaranty becomes
     unenforceable as to any future advances under this Note;
7.   Any financial statement provided by any of such parties to CNB is
     materially false or misleading;
8.   Any material default in the payment or performance of any obligation, or
     any default under any provisions of any contract or instrument pursuant to
     which any such parties has incurred any obligation for borrowed money, any
     purchase obligation or any other liability of any kind to any person or
     entity, including CNB;
9.   Any sale or transfer of all or a substantial or material part of the assets
     of any such parties other than in the ordinary course of business; or
10.  Any material violation, breach or default under any letter agreement,
     guaranty, security agreement, deed of trust or any other contract or
     instrument executed in connection with this Note or securing this Note.

     Upon the occurrence of any Event of Default, CNB, at its option, may
declare all sums of principal and interest outstanding hereunder to be
immediately due and payable without presentment, demand, protest or notice of
dishonor all of which are expressly waived by each Borrower, and CNB shall have
no obligation to make any further advances hereunder. Each Borrower agrees to
pay all costs and expenses, including reasonable attorneys' fees, expended or
incurred by CNB (or allocable to CNB's in-house counsel) in connection with the
enforcement of this Note or the collection of any sums due hereunder and
irrespective of whether suit is filed. Any principal or interest not paid when
due hereunder shall thereafter bear additional interest from its due date at a
rate of five percent (5.0%) per year higher than the interest rate as determined
and computed above, and continuing thereafter until paid.

     Should more than one person or entity execute this Note as a Borrower, the
obligations of each Borrower shall be joint and several.

     This Note and all matters relating thereto, shall be governed by the laws
of the state of California.

                                          GW Services, Inc.,
                                          A California Corporation

                                          By:  s/s   Brian H. McInerney
                                               ------------------------
                                               Brian H. McInerney, President/CEO

                                       -2-

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