A cutter link for a saw chain including an elongated base having front and rear ends and upper and lower edges. Rivet holes are provided adjacent each end. A cutting portion extends upwardly from the upper edge on the rearward half of the base. A depth gauge extends from the upper edge on the forward half of the base. Said depth gauge terminates at a peak located rearward of the center of the front rivet hole and is spaced from the cutting edge of the cutting portion to provide a gullet. The depth gauge has a leading edge that is inclined rearwardly from the front of the base to the peak. The height of the combined base and cutting portion is no greater than the distance between the centers of the rivet holes plus 10 percent.