A few observations:
When using Sawtooth Script in Unverified Perl, you don't use the inner "[%" or "%]."
When you have quotation marks inside a string in Perl, you should use apostrophes to define the Perl string.
You'll need to join strings using Perl's dot operator.
The "End Unverified" needs to be after the if's closing brace.
This is the return I'd use:
return '<img src="' . GRAPHICSPATH() . 'LOGO.jpg" alt="" border="0" width="250">';