<DOCUMENT>
<TYPE>EX-10
<SEQUENCE>4
<FILENAME>employmentagreement.txt
<TEXT>
November 13, 2001



Michael Doar
2907 Spring Meadow Court
Indianapolis, IN 46268



Dear Michael:

This letter agreement will confirm the terms of employment associated with your
appointment as Chairman and Chief Executive Officer of Hurco Companies, Inc.

Position and Responsibilities

o        Chairman and Chief Executive Officer
o        Effective November 13, 2001
o        You will continue as a member of Hurco's Board of Directors

Compensation

o        Base salary $245,000 annually subject to annual review by the
         Compensation Committee of the Board of Directors.
o        Annual bonus to be determined by the Compensation Committee of the
         Board of Directors.
o        You will be eligible to participate in the Deferred Compensation
         Program as approved by the Compensation Committee.

Vacation

o        Vacation consistent with the vacation plan in effect for corporate
         officers.

Life Insurance

o        You are eligible to participate in the Split Dollar Life Insurance
         Plan available to corporate officers.

Other Expenses to be paid by Hurco

o        Hurco will provide you with a suitable  automobile as it does other
         senior  officers.  Appropriate  arrangements  will be made
         for reimbursement of social / country club expenses intended primarily
         for Hurco business purposes.

Relocation Expenses

o        Hurco will  continue to pay for the  apartment you are using until the
         earlier of when you acquire  permanent  housing or you and your family
         or September 2, 2002.
o        The company will  reimburse  all  reasonable moving expenses including
         packing and shipping of household  furnishings  and personal  property.
         Reimbursement  or direct payment of these expenses will be subject to
         submission of appropriate  invoices and other supporting documentation.
         The  reimbursement  will be "grossed up" for Federal and State Income
         Taxes in accordance  with established Company practices for
         executive officers.
<PAGE>

Employment Termination Agreement

o        In the event you are removed as Chairman  and Chief  Executive Officer
         by action of the Board of  Directors,  your salary and status as an
         employee would continue for thirty (30) days following written notice
         of termination,  at which time you will be paid twelve (12) months
         severance, at your then base salary.
o        Health,  life and  disability  insurance  benefits will be  maintained
         at the expense of the Company  during the twelve months (12) severance
         period or until you have obtained alternate employment, if earlier.
o        In the event you  resign  of your own  volition  prior to the
         termination  of your  employment,  Hurco  will make no  further
         payments (salary and benefits) after your last day of employment.

We wish your every success with your new responsibilities.

Sincerely,                                           Acknowledged and accepted

/s/ O. Curtis Noel                                   /s/ Michael Doar
O. Curtis Noel                                       Michael Doar
Chairman,
Compensation Committee                               11-13-02
of the Board of Directors                            Date


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