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                                                                   EXHIBIT 10.62

                          MATTEL, INC.

                         GRANT AGREEMENT
                FOR A NON-QUALIFIED STOCK OPTION

                  MATTEL 1990 STOCK OPTION PLAN

    This is an Agreement (the "Agreement") between MATTEL, INC. (the "Company")
and __________________ ( the "Option Holder") as indicated in the Notice of
Grant of Stock Options (the "Notice") attached hereto as the cover page of this
Agreement.

RECITALS
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    The Company has adopted the Mattel 1990 Stock Option Plan (the "Plan") for
the granting to selected employees of options to purchase shares of the 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 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.

AGREEMENT
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1.   The Company grants to the Option Holder the right and option to purchase,
     on the terms and conditions hereinafter set forth, all or any part of an
     aggregate number of shares, as set forth in the Notice, of the Common Stock
     exercisable from time-to-time in accordance with the provisions of this
     Agreement during a period expiring ten years from the date of the Notice
     (the "Expiration Date"). This option is designated a Non-Qualified Stock
     Option as that term is used in the Plan.

2.   The Option Holder may purchase the following percentages of the shares of
     Common Stock subject to this option at the times set forth below:

                                       PERCENT  OF SHARES  SUBJECT
COMMENCING ON THE DATE                   TO THIS AGREEMENT THAT
  OF THIS AGREEMENT                         MAY BE PURCHASED
--------------------------             ---------------------------
BEFORE MARCH 15, 1995                              0%
ON AND AFTER MARCH 15, 1995                       50%
ON AND AFTER MARCH 15, 1996
 AND UNTIL THE EXPIRATION DATE                   100%

     The number of shares that may be purchased upon exercise of this option
     shall in each case be calculated to the nearest full share. Notwithstanding
     the foregoing, the vesting and exercisability of this option are subject to
     the vesting and exercisability provisions of Section 5, Paragraph (d),
     Subparagraph (i), Clause (II) of the Amended and Restated Employment
     Agreement between Mattel and Grantee, dated as of November ___, 1993 (the
     "Employment Agreement"); provided, however, that this option shall
     become immediately exercisable pursuant to such vesting and

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     exercisability provisions regardless of whether this option shall have been
     outstanding for more than six months.

3.   This option may be exercised during the lifetime of the Option Holder only
     by him, or by his transferees by will or the laws of descent or
     distribution to the extent permitted by Paragraph 6, and not otherwise,
     regardless of any community property interest therein of the spouse of the
     Option Holder, or such spouse's successors in interest.

4.   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 shares to be purchased, accompanied by payment in
     cash, by certified or cashier's check payable to the Company, or by
     tendering Common Stock (including, at the discretion of the Option Holder,
     shares of Common Stock withheld by the Company upon the exercise of this
     option) valued at the Fair Market Value of such Common Stock, of the full
     purchase price of the shares to be purchased. In addition to payment of the
     full purchase price, the Option Holder, upon exercise, shall pay, or make
     provisions satisfactory to the Company or its subsidiary for payment or
     reimbursement of, any federal, state and local taxes required by be
     withheld.

5.   The option granted hereby and all rights hereunder, to the extent such
     rights shall not have been exercised, shall terminate and become null and
     void if the Option Holder ceases for any reason other than death to be an
     employee of the Company or one of its subsidiaries, subject to Section 5,
     Paragraph (d), Subparagraph (i), Clause (II), of the Employment Agreement;
     provided, however, that if the Option Holder's employment terminates other
     than for Cause (as defined in the Employment Agreement) and on the Date of
     Termination the Option Holder has at least five years of continuous service
     with the Company, the option shall remain exercisable to the extent
     exercisable on such Date of Termination for a period of five years
     following such Date of Termination, but in no event may the option be
     exercised after the Expiration Date.

6.   If an Option Holder dies while in the employ of the Company, the person or
     persons to whom the Option Holder's rights under the option shall pass by
     will or by the laws of descent and distribution may, with the consent of
     the Committee, exercise the option granted hereby for the period of time
     determined by the Committee not to exceed one year after the date of death
     (but in no event later than the Expiration Date), to the extent exercisable
     on the date of death; provided, however, that if the Option Holder has at
     least five years of continuous service with the Company on the date of
     death, the option shall remain exercisable to the extent exercisable on the
     date of death for a period of five years following such date of death, but
     in no event may the option be exercised after the Expiration Date.

7.   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, all applicable listing requirements of any national
     securities exchange on which shares

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     of the same class are 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.

8.   Except as otherwise provided herein, this option and the rights and
     privileges granted not be hereby shall transferred, assigned, pledged or
     hypothecated in any way, whether by operation of law or otherwise. Upon any
     attempt so to transfer, assign, pledge, hypothecate or otherwise dispose of
     this option or any right or privileges granted hereby contrary to the
     provisions hereof, this option and said rights and privileges shall
     immediately become null and void.

9.   In the event of any change in the Common Stock by reason of a stock split,
     stock dividend, combination or reclassification of shares,
     recapitalization, merger, or similar event, the Committee may adjust
     proportionally the number of shares and the stock price of the Common Stock
     subject to this Agreement. In the event of any other change affecting the
     Common Stock or any distribution (other than normal cash dividends) to
     holders of Common Stock, the Committee may make such adjustments as it may
     deem equitable including adjustments to avoid fractional shares in order to
     give prior effect to such event. In the event of a corporate merger,
     consolidation, acquisition of property or stock, separation, reorganization
     the or liquidation, Committee may substitute new options for previously
     issued options or provide for the assumption of this Agreement.

10.  Nothing herein shall confer upon the Option Holder any right to continue in
     the employ of the Company or shall interfere in any way with the rights of
     the Company (subject to the terms of the Employment Agreement to the
     contrary) at any time to terminate such employment.

11.  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
     him.

12.  The option hereby granted is subject to, and the Company and Option Holder
     agree to be bound by, all of the terms and conditions of the Plan, as the
     same shall be amended from time-to-time in accordance with the terms
     thereof, but no such amendment shall adversely affect the Option Holder's
     rights under this Agreement.

13.  This option has been granted, executed and delivered with effect from the
     date of Notice, at El Segundo, California, and interpretation, performance
     and enforcement of this Agreement shall be governed by the laws of the
     State of California.

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                                                                   EXHIBIT 10.63

                                  MATTEL,INC.

                         AWARD CANCELLATION AGREEMENT

          This Award Cancellation Agreement (this "Agreement"), is made and
entered into as of February 10, 1994, by and between ____________________
("Grantee"), and Mattel, Inc. ("Mattel"), with reference to the following facts:

     A.   Grantee was granted an award of stock appreciation rights under the
Mattel 1990 Stock Option Plan (the "Plan"), which was evidenced by that certain
Award Agreement dated February 12, 1991, as amended May 11, 1993 (as amended,
the "Award");

     B.   Pursuant to the Award, Grantee is entitled to certain cash payments on
two future payment dates based upon the appreciation of the price of Mattel
Common Stock;

     C.   If the value of the Award were determined based on the value of Mattel
Common Stock on the date hereof rather than on the Award's future payment dates,
Grantee would be entitled to a substantial cash payment;

     D.   The Award has resulted in the recognition of certain financial
accounting charges against the earnings of Mattel, and Mattel desires to
eliminate future charges against its earnings that would likely result from the
continuance of the Award;

     E.   Grantee desires to accommodate Mattel's wishes and is willing to allow
Mattel to cancel the Award in exchange for the certainty of a fixed sum cash
payment by Mattel, and the receipt of certain stock options from Mattel; and

     F.   Mattel and Grantee have agreed that it is in their mutual best
interests to cancel the Award in consideration of the payment to Grantee of the
cash sum of $_______________ and the separate issuance to Grantee, under the
Plan, of nonqualified options to purchase __________ shares of Common Stock of
Mattel.

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          In consideration of the premises and for good and valuable
consideration, the receipt of which by each party is hereby acknowledged, the
parties agree as follows:

     1.   Cancellation. The Award is hereby cancelled and the agreement
evidencing the Award and all amendments thereof, are terminated and shall be of
no further force or effect.

     2.   Cash Payments. Subject to the provisions of Section 4, Mattel shall
pay to Grantee, or to Grantee's heirs or legal representatives, the sum of
$__________ on March 15, 1995 (the "First Cash Payment"), and the sum of
$_________ on March 15, 1996 (the "Second Cash Payment"; the First Cash Payment
and the Second Cash Payment referred to collectively as the "Cash Payments").

     3.   Grant of Option. Effective as of the date hereof, Mattel shall grant
to Grantee under the Plan an option to purchase __________ shares of common
stock of Mattel, at a price of $24.625 per share (the "Option"), which Option
shall vest 50% on March 15, 1995, and 50% on March 15, 1996, and shall have a
term of 10 years from the date hereof. The Option shall be evidenced by the
Option Agreement of even date herewith, in the form delivered to Grantee by
Mattel concurrently herewith (the "Option Agreement"), and shall be subject to
all of the terms and conditions in the Option Agreement. In the event of a
conflict or inconsistency between the terms of the Option Agreement and this
Agreement, the terms of the Option Agreement shall govern.

     4.   Other Provisions. Notwithstanding any other provision of the Plan to
the contrary, the following shall apply:

          (a)  Termination of Employment. This Agreement supersedes Section 5,
Paragraph (d), Subparagraph (i), Clause (III) of the Amended and Restated
Employment Agreement dated as of November ___, 1993, between Mattel and Grantee
(the "Employment Agreement"), insofar as it refers to awards of "share units,"
it being agreed and acknowledged that the "share units" constitute the Award
which is cancelled hereby. If the employment of Grantee terminates in accordance
with Section 5, Paragraph (d), Subparagraph (i), or Section 5, Paragraph (e), of
the Employment Agreement, then the Cash Payments shall both be made (or, if the
First Cash Payment has already been made, the Second Cash Payment shall be
made,) no later than the 15th day following the Date of Termination (as defined
in the Employment Agreement) unless paid sooner pursuant to the provisions of
paragraph (c) below; provided, however, that if such Date of Termination occurs
before March 15, 1995, then (A) the First Cash Payment shall be reduced to an
amount equal to the product of $__________ times a fraction the numerator of
which shall be the number of full months that have elapsed

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since February 12, 1991, and the denominator of which shall be the number 49
(this number being the number of full months between February 12, 1991, and
March 15, 1995), and (B) the Second Cash Payment shall be reduced to an amount
equal to the product of $__________ times a fraction the numerator of which
shall be the number of full months that have elapsed since February 12, 1991,
and the denominator of which shall be the number 61 (this number being the
number of full months between February 12, 1991, and March 15, 1996); provided,
further, that if such Date of Termination occurs on or after March 15, 1995, but
before March 15, 1996, then the First Cash Payment shall not be reduced or
rebated and the Second Cash Payment shall be reduced to an amount equal to the
product of $_________ times a fraction the numerator of which shall be the
number of full months that have elapsed since February 12, 1991, and the
denominator of which shall be the number 61. Subject to the foregoing, if the
employment of Grantee terminates, other than for reasons of death or disability,
all unpaid awards shall be cancelled immediately and no further amounts shall be
due or payable hereunder. In the event of the death or disability of Grantee,
the Cash Payments shall both be made, or if the First Cash Payment has already
been made, the Second Cash Payment shall be made, no later than the 15th day
following the date of death or disability. For purposes of this Agreement, the
date of disability shall be the date Grantee becomes entitled to receive
disability benefits under the Mattel Long-Term Disability Plan for exempt
employees or any successor plan.

               (b)  Deferral of Payments - The Cash Payments under this
Agreement may, at the option of the Grantee, be deferred and paid either in the
form of installments or in future lump sum payments. Such deferral shall be in
accordance with and under the terms of the Mattel Executive Deferred
Compensation Plan.

               (c)  Change of Control - The Cash Payments shall become vested
and payable 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.

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       Grantee and Mattel agree that the Cash Payments and Options are governed
by the terms and conditions of this Agreement and the Plan.

       IN WITNESS WHEREOF, the undersigned parties have executed this Agreement
as of February 10, 1994.

   GRANTEE                         MATTEL, INC.

   ________________________        By: __________________________

                                   Name: ________________________

                                   Title: _______________________

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