2018 Long-Term Incentive Grant Allocation Letter Agreement between Mattel and Ynon Kreiz

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This letter agreement between Mattel and Ynon Kreiz outlines the allocation of Mr. Kreiz's 2018 long-term incentive grant. The grant will be split equally, with 50% in Performance Units and the remaining 50% divided between stock options and restricted stock units, as determined by Mattel's Compensation Committee. The allocation for future years will also be set by the Committee. Mr. Kreiz acknowledges and consents to these terms, confirming that this arrangement does not breach his offer letter or provide grounds for resignation for 'Good Reason.'

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EX-10.8 7 mat63018ex108.htm EXHIBIT 10.8 Exhibit
EXHIBIT 10.8


June 12, 2018

Ynon Kreiz

VIA ELECTRONIC DELIVERY


Dear Ynon,

This letter confirms our discussions regarding the allocation of your 2018 long-term incentive (“LTI”) grant value, which is comprised of equity-based awards in the form of Performance Units, granted under the 2018-2020 Long-Term Incentive Program (“LTIP”), and annual equity grants of stock options and restricted stock units (“RSUs”). As discussed, notwithstanding anything contained in your offer letter with Mattel, dated April 19, 2018, your 2018 LTI grant value will be allocated 50% in Performance Units and the remaining 50% will be allocated between stock options and RSUs as determined by the Compensation Committee. The allocation of your LTI grant value in subsequent years will be determined by the Compensation Committee.

This letter further confirms your acknowledgement that neither the foregoing nor any action taken by Mattel in connection therewith will constitute a breach of, or “Good Reason” for purposes of, your offer letter or any other agreement between you and Mattel, or any Mattel plan or other arrangement, and you hereby consent to the foregoing.


Sincerely,

/s/ Michael J. Dolan


Michael J. Dolan
Chair, Compensation Committee



Acknowledged, Agreed, and Consented To,
this 12th day of June, 2018:


/s/ Ynon Kreiz
__________________________________
Ynon Kreiz