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                                                                   Exhibit 10(e)


                  Executive Compensation Plans and Arrangements

 Agreement dated May 2, 1997 between Gibson Greetings, Inc. and Gregory A. Brown



                                   May 2, 1997




Mr. Gregory A. Brown
1577 Hilltop Avenue
Barrington, IL   60010

Dear Greg:

Gibson Greetings, Inc. and I are very pleased that you have agreed to serve as
Senior Vice President, Sales of Gibson Greetings, Inc. (the Company). As Senior
Vice President, Sales, you will report directly to me. The following terms and
conditions will govern your service to the Company.

1.       You will serve the Company on a full-time basis as a senior executive
         employee, and the Company will employ you as such, commencing May 19,
         1997. This Agreement will extend indefinitely until terminated by the
         Company, or by you upon thirty days' advance written notice to the
         Company. In the event that this Agreement and your employment are
         terminated by the Company other than for cause, you will be entitled to
         receive in a lump sum from the Company in lieu of all other monies or
         benefits provided under this Agreement, and in lieu of severance pay
         pursuant to Company policy, an amount equal to your base salary for a
         period of one year or to severance pay in an amount equal to 24 months'
         salary. The amount of said severance pay shall, during the your first
         year of employment, reduce by one month for each month you are
         employed. This Agreement will at all times remain subject to earlier
         termination for cause.

2.       Your annual salary will be $225,000, which amount will be reviewed
         every fifteen months and which may be adjusted from time to time by the
         Company in accordance with the Company's salary administration program.

3.       A signing bonus in the amount of $80,000 will be paid to you soon after
         you begin employment with the Company.

4.       Every three years, you will be provided a new automobile of such class
         as may be set forth in the Company's then current automobile program,
         which automobile will be owned or leased by the Company.

5.       As a participant in the Company's Management Bonus Plan, you will be
         eligible for an annual bonus for 1997 and for each calendar year during
         the term of this Agreement up to a maximum of 112.5% of your base
         salary, subject to the terms and conditions of the Management Bonus
         Plan in effect for each such year. For the 1997 fiscal year, you will
         be guaranteed a bonus of at least $100,000. Further, your bonus for
         1997 will be calculated on the premise of $225,000 of earnings, as
         though you will have worked for Gibson for the full year.

6.       As additional consideration for this Agreement, and contingent upon
         approval by the Compensation Committee, you will be granted a stock
         option for 50,000 shares of the common stock of the Company at the
         closing market price of the stock on the official grant date. One third
         of such options shall become vested on each of the first three
         anniversaries of the grant. Such vesting shall be conditioned upon your
         continuing to be employed by the Company on each such date.

7.       The Company will reimburse you in accordance with the terms of the
         Company's Executive Relocation and Moving Expense policy for your
         reasonable expenses of moving from Barrington, Illinois to Cincinnati,
         Ohio, including, but not limited to: household moving costs; your
         travel expenses for house-hunting trips as approved in advance by the
         Company; realtor fees and transfer taxes on the sale of your present
         home in Barrington; and closing costs related to your purchase of a
         home in the Cincinnati area. We will provide you temporary housing in
         Cincinnati for up to six months.

8.       You will be covered by the Company's special benefit programs for
         executives which include: executive physical examinations, life
         insurance, tax preparation and estate planning assistance. The amount
         of your life insurance shall be three (3) times your annual salary, not
         to exceed $600,000.



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9.       Upon approval of the Compensation Committee, you will be named a
         participant in the Company's ERISA Makeup Plan and its Supplemental
         Executive Retirement Plan (SERP).

10.      You will be eligible for participation in all other benefit plans
         available to the employees of the Company, in accordance with the terms
         of those plans, including participation in the Voluntary Deferred
         Compensation Plan, the 401(k) Plan, the Retirement Income Plan and
         health insurance.

11.      You will be eligible for four weeks of paid vacation during each year
         this Agreement remains in effect.

12.      Your employment and this agreement shall terminate automatically upon
         your disability or death. All other benefits due you following
         termination of your employment and this agreement for disability or
         death shall be determined in accordance with the plans, policies and
         practices of the Company.

13.      In the event you voluntarily terminate your employment during the term
         of this Agreement, or if the Company terminates this Agreement and your
         employment for cause, your right to all compensation hereunder shall
         cease as of the date of termination. As used in this Agreement, "cause"
         shall mean fraud, gross negligence, or willful misconduct in the
         performance of your duties or a willful and material breach of this
         Agreement. Termination of employment shall terminate this Agreement
         with the exception of the provisions of Paragraphs 14, 15 and 16.

14.      Also in the event you voluntarily terminate your employment hereunder
         or retire, or if the Company terminates this Agreement and your
         employment for cause, you agree that for a period of one year after
         such termination, you will not compete, directly or indirectly, with
         the Company or with any division, subsidiary or affiliate of the
         Company or participate as a director, officer, employee, consultant,
         advisor, partner or joint venturer in any business engaged in the
         manufacture and/or sale at wholesale of greeting cards, gift wrap or
         other products produced or sold by the Company, or by any division,
         subsidiary or affiliate of the Company, without the Company's prior
         written consent. If the Company chooses to terminate this Agreement and
         you continue to be employed by the Company as an employee, agent,
         consultant or otherwise, you agree that this paragraph shall continue
         to bind you for a period of one (1) year after your separation from the
         Company as an employee, agent, consultant or otherwise.

15.      In the event that your employment with the Company is terminated for
         any reason, by you or the Company, you agree that, for a period of one
         year following such termination of employment, you shall not in any way
         solicit or recruit any employee of the Company, its affiliates or
         subsidiaries, for any employment, consulting or other arrangement for
         your benefit or that of any third party.

16.      In connection with this Agreement, you may receive confidential
         information of the Company. You agree, both during the term of this
         Agreement and after termination, not to disclose to others, assist
         others in the application of, or use for your own gain, such
         information, or any part thereof, unless and until it has become public
         knowledge or has come into the possession of others by legal and
         equitable means. You further agree that, upon termination of employment
         with the Company, all documents, records, notebooks, and similar
         writings, including copies thereof, then in your possession, whether
         prepared by you or by others, will be left with or returned promptly to
         the Company. For purposes of this paragraph, "confidential information"
         means information concerning Company's finances, plans, sales,
         products, processes and services, or those of Company's subsidiaries,
         divisions or affiliates, which is disclosed to you or known by you as a
         consequence of or through your employment with the Company, and which
         is not generally known in the industry in which the Company or its
         subsidiaries, divisions or affiliates are or may become engaged. You
         agree that this paragraph will continue to bind you notwithstanding the
         termination of this Agreement or your employment for any reason
         whatsoever. If the Company chooses to terminate this Agreement and you
         continue to be employed by the Company as an employee, agent,
         consultant or otherwise, you agree that this paragraph will continue to
         bind you after your separation from the Company as an employee, agent
         or consultant.

17.      Other than as set forth in Paragraph 1, nothing herein is intended to
         be granted to you in lieu of any rights or privileges to which you may
         be entitled as an executive employee of the Company under any
         retirement, insurance, hospitalization, or other plan which may now or
         hereafter be in effect.

18.      This Agreement will inure to the benefit of and be binding upon you and
         your legal representatives as well as the Company, its successors and
         assigns including, without limitation, any person, partnership,
         corporation or other entity which may acquire all, or substantially
         all, of the Company's assets and business.

19.      If any provision of this Agreement is later deemed to be void, that
         provision may be stricken and the remaining portions of this Agreement
         enforced as if the provision so stricken had never been included
         herein.

20.      The Company will reimburse you for membership in a country club of your
         choice, and any business related expenses.

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To indicate your acceptance of and willingness to be bound by this Agreement,
please sign and return one duplicate original of this letter.

                                            Sincerely,

                                            GIBSON GREETINGS, INC.



                                            /s/ FRANK J. O'CONNELL
                                            ----------------------------
                                            Frank J. O'Connell
                                            President and
                                            Chief Executive Officer


ACCEPTED AND AGREED TO:


/s/ GREGORY A. BROWN
------------------------------
Gregory A. Brown


Date: May 5, 1997



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