Memorandum of Appointment and Compensation Terms for Doris W. Skoch with Gerber Scientific, Inc.
Gerber Scientific, Inc. has appointed Doris W. Skoch as Senior Vice President of the company and President of Spandex PLC, effective September 30, 2002. Her base salary remains at $235,000 per year, and her bonus target under the Executive Annual Incentive Bonus Plan is set at 50%. For the fiscal year ending April 30, 2003, her bonus will be calculated at 30% for the period from May 1 to September 30, 2002, and 50% for the period from October 1, 2002 to April 30, 2003, both pro-rated. The agreement is confirmed by her signature.
EXHIBIT NO. 10.13
MEMORANDUM
To: Doris W. Skoch
From: Marc T. Giles
Re: Appointment, Gerber Scientific, Inc. (the "Company")
Date: September 30, 2002
Effective September 30, 2002, the Board of Directors of the Company (the "Board") has appointed you a Senior Vice President of the Company and President of Spandex PLC. The Management Development and Compensation Committee of the Board has set your bonus target under the Company's 2000-2004 Executive Annual Incentive Bonus Plan at 50%. Your base salary will remain at $235,000 per year.
For the fiscal year ending April 30, 2003, your bonus will be calculated as follows: for the period May 1, 2002 through September 30, 2002, your bonus target will be 30% of the pro rata portion of your base salary as of April 30, 2003, and for the period October 1, 2002 through April 30, 2003, your bonus target will be 50% of the pro rata portion of your base salary as of April 30, 2003.
If this memorandum sets forth our agreement on the subject matter hereof, kindly sign and return the enclosed copy of this memorandum, which will then constitute our agreement on this subject.
/s/ Marc. T. Giles_______
Marc T. Giles
President and CEO
Agreed this ____ date of October, 2002.
/s/ Doris W. Skoch
Doris W. Skoch