Exibit 10.2




	





 International Flavors
& Fragrances Inc.  



         Vision
2001 Compensation Program — updated 2005 — Compensation Elements



        There
are six elements of Vision 2001 Compensation Program: 



         •
Salary



         •
Annual Incentive



         •
Long Term Incentive



         •
Equity



         •
Perquisites



         •
Deferred Compensation




















International Flavors
& Fragrances Inc. 






Vision 2001 Compensation Program - updated 2005 - Compensation Elements

(Incentive elements and equity represented as a percentage of base salary)





	Salary
Grade	Salary Grade
Range ($000s)	Annual Incentive (a)	Long Term Incentive	Restricted Stock Grants (c)
	
	
	
	
	
	
	
	
	
	
	
	
	

		Min.		Max.	Threshold	Target	Max.	Threshold	Target	Max.	Minimum	Target	Max.
	
	
	
	
	
	
	
	
	
	
	
	
	

	CEO	$900 	-	 	60.0%	120.0%	180.0%	25.0%	100.0%	150.0%	60.0%	120.0%	180.0%
	 L	$450 	-	$750 	37.5%	75.0%	112.5%	20.0%	80.0%	120.0%	55.0%	110.0%	165.0%
	 K	$325 	-	$585 	27.5%	55.0%	82.5%	16.3%	65.0%	97.5%	47.5%	95.0%	142.5%
	 J	$275 	-	$495 	22.5%	45.0%	67.5%	15.0%	60.0%	90.0%	40.0%	80.0%	120.0%
	 I	$200 	-	$360 	22.5%	45.0%	67.5%	12.5%	50.0%	75.0%	37.5%	75.0%	112.5%
	 H	$160 	-	$300 	17.5%	35.0%	52.5%	10.0%	40.0%	60.0%	22.5%	45.0%	67.5%
	 G	$130 	-	$250 	17.5%	35.0%	52.5%	 	-- 	 	-- 	30.0%	-- 
	 F	$100 	-	$200 	12.5%	25.0%	37.5%	 	-- 	 	-- 	20.0%	-- 
	 E	$  75 	-	$150 	10.0%	20.0%	30.0%	 	-- 	 	-- 	15.0%	-- 
	 D	$  60 	-	$110 	5.0%	10.0%	15.0%	 	-- 	 	-- 	10.0%	-- 
	 C	$  50 	-	$  90 	4.0%	8.0%	12.0%	 	-- 	 	-- 	8.0%	-- 
	 B	$  40 	-	$  65 	 	n/a(b) 	 	 	-- 	 	-- 	-- 	-- 
	 A	$  30 	-	$  50 	 	n/a(b) 	 	 	-- 	 	-- 	-- 	-- 








     (a)    
          For Salary Grades G and below, target percentages expressed are for US based
          employees; target percentages vary in other countries based on competitive
          practice. 

(b)    
          Where competitively warranted, local incentive plans are in place. 

(c)    
          For Salary Grades H and above, restricted stock grants are subject to both
          performance criteria and service vesting provisions; for Salary Grades G and
          below, restricted stock grants are subject to service vesting provisions only. 









Vision 2001 Compensation Program - updated 2005 - Other Elements

Perquisites Plan





	Salary
Grade	Car	Vacation	Severance	Annual
Physical	Parking	Class of 
Air Travel	Financial Counseling
& Estate Planning	Fitness
Club (e)
	
	
	
	
	
	
	
	
	
	
	
	
	

	CEO	Yes	per Board	per Contract (a)	Yes	Yes	First or Business	Yes (c)	Yes
	L	Yes	4 Weeks	per ESP (b)	Yes	Yes	First or Business	Yes (c )	Yes
	K	Yes	4 Weeks	per ESP (b)	Yes	Yes	First or Business	Yes (c)	Yes
	J	Yes	4 Weeks	per ESP (b)	Yes	Yes	First or Business	Yes (c)	Yes
	I	Yes	4 Weeks	per ESP (b)	Yes	Yes	Business or Coach	Yes (d)	Yes
	H	Yes	4 Weeks	per ESP (b)	Yes	Yes	Business or Coach	Yes (d)	Yes
	G	 No	4 Weeks	12 months	Yes	No	Coach or Bus (> 5 hrs)	No	No
	F	 No	3 Weeks	per Policy (6 mos min.)	No	No	Coach or Bus (> 5 hrs)	No	No
	E	 No	3 Weeks	per Policy (6 mos min.)	No	No	Coach or Bus (> 5 hrs)	No	No
	D	 No	per Policy	per Policy	No	No	Coach or Bus (> 5 hrs)	No	No
	C	 No	per Policy	per Policy	No	No	--	No	No
	B	 No	per Policy	per Policy	No	No	--	No	No
	A	 No	per Policy	per Policy	No	No	--	No	No








     (a)    
          Covered under Executive Separation Policy except as provided in CEO letter
          agreement. 
(b)    
          ESP = Executive Separation Policy. 


(c)    
          Individual financial counseling from specified provider annually and estate/tax
          planning provided up to an amount of $4,000 per 3 year period. 


(d)    
          Individual financial counseling from specified provider annually. 


(e)    
          Fitness club subsidy provided to a maximum of $3,000 per year.