Document:

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                                                                     Exhibit 4.2

                          FIRST SUPPLEMENTAL INDENTURE

                             DATED AS OF MAY 7, 2001

                                       to

                                    INDENTURE

                             dated as of May 1, 2001

                                     between

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.

                                       and

                          Bank One Trust Company, N.A.,

                                   as Trustee

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                  FIRST SUPPLEMENTAL INDENTURE, dated as of May 7, 2001 (this
"First Supplemental Indenture"), to the Indenture, dated as of May 1, 2001 (the
"Original Indenture"), between INTERNATIONAL FLAVORS & FRAGRANCES INC, a New
York corporation (the "Company"), and Bank One Trust Company, N.A. (the
"Trustee").

                  WHEREAS, the Company and the Trustee have heretofore executed
and delivered the Original Indenture to provide for the issuance from time to
time of Securities (as defined in the Original Indenture) of the Company, to be
issued in one or more series;

                  WHEREAS, Sections 2.01 and 9.01 of the Original Indenture
provide, among other things, that the Company and the Trustee may enter into
indentures supplemental to the Original Indenture for, among other things, the
purpose of establishing the designation, form, terms and conditions of
Securities of any series as permitted by Sections 2.01 and 9.01 of the Original
Indenture;

                  WHEREAS, the Company (i) desires the issuance of a series of
Securities to be designated as hereinafter provided and (ii) has requested the
Trustee to enter into this First Supplemental Indenture for the purpose of
establishing the designation, form, terms and conditions of the Securities of
such series;

                  WHEREAS, the Company has duly authorized the creation of an
issue of its (1) 6.45% Notes due 2006 (the "Original Series A Notes") and (2)
its 6.45% Notes due 2006 to be issued in exchange for the Original Series A
Notes (the "Exchange Notes" and collectively with the Original Series A Notes,
the "Series A Notes," which expression includes any further notes issued
pursuant to Section 2.4 hereof and forming a single series therewith) of
substantially the tenor and amount hereinafter set forth. The Original Series A
Notes and the Exchange Notes shall rank pari passu; and

                  WHEREAS, all action on the part of the Company necessary to
authorize the issuance of the Series A Notes under the Original Indenture and
this First Supplemental Indenture (the Original Indenture, as supplemented by
this First Supplemental Indenture, being hereinafter called the "Indenture") has
been duly taken.

                  NOW, THEREFORE, THIS FIRST SUPPLEMENTAL INDENTURE WITNESSETH:

                  That, in order to establish the designation, form, terms and
conditions of, and to authorize the authentication and delivery of, the Series A
Notes, and in consideration of the acceptance of the Series A Notes by the
Holders thereof and of other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

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                                   ARTICLE I

                                   DEFINITIONS

                  (a) Capitalized terms used herein and not otherwise defined
herein shall have the respective meanings ascribed thereto in the Original
Indenture.

                  (b) The rules of interpretation set forth in the Original
Indenture shall be applied hereto as if set forth in full herein.

                  (c) For all purposes of this First Supplemental Indenture,
except as otherwise expressly provided or unless the context otherwise requires,
the following terms shall have the following respective meanings (such meanings
shall apply equally to both the singular and plural forms of the respective
terms):

                  "Applicable Procedures" means, with respect to any transfer or
exchange of or for beneficial interests in any Global Note, the rules and
procedures of DTC, Euroclear and Clearstream that apply to such transfer or
exchange.

                  "Clearstream" means Clearstream Banking, societe anonyme.

                  "Closing Date" means the day on which the Closing Date for the
Original Series A Notes occurs pursuant to the Purchase Agreement.

                  "Commission" means the U.S. Securities and Exchange
Commission, as from time to time constituted, created under the Securities
Exchange Act of 1934, or, if at any time after the execution of this instrument
such Commission is not existing and performing the duties now assigned to it
under applicable law, then the body performing such duties at such time.

                  "Comparable Treasury Issue" means the United States Treasury
security selected by the Reference Treasury Dealer as having a maturity
comparable to the remaining term of the Series A Notes to be redeemed that would
be utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt notes of comparable maturity
to the remaining term of the Series A Notes.

                  "Comparable Treasury Price" means, with respect to any
Redemption Date, (A) the average of the Reference Treasury Dealer Quotations for
the Redemption Date, after excluding the highest and lowest such Reference
Treasury Dealer Quotations or (B) if the Trustee obtains fewer than three such
Reference Treasury Dealer Quotations, the average of all such Quotations or (C)
if only one Reference Treasury Dealer Quotation is received, such quotation.

                  "Definitive Note" means a Series A Note in definitive
registered form without coupons.

                  "DTC" has the meaning set forth in Section 2.9 hereof.

                  "DTC Legend" means the legend set forth in Section 3.6(d),
which is required to be placed on all Global Notes, for which DTC is acting as
the Depositary, issued under this Indenture.

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                  "Euroclear" means Euroclear Bank S.A./N.V., as operator of the
Euroclear System.

                  "Exchange Notes" means the Series A Notes issued pursuant to
the Exchange Offer.

                  "Exchange Offer" means the Exchange Offer as defined in the
Registration Rights Agreement.

                  "Global Note Legend" means the legend set forth in Section
3.6(c), which is required to be place on all Global Notes issued under this
Indenture.

                  "Global Notes" means, individually and collectively, each of
the Restricted Global Notes, the Registration S Global Notes and the
Unrestricted Global Notes, substantially in the form of Exhibit A hereto, issued
in accordance with Section 2.11 of the Original Indenture and Section 2.7
hereof.

                  "Initial Purchasers" has the meaning set forth in the Purchase
Agreement.

                  "Interest Payment Date" has the meaning set forth in Section
2.5 hereof.

                  "Lead Manager" means Salomon Smith Barney, Inc.

                  "Original Series A Notes" means all Series A Notes, other than
Exchange Notes.

                  "Participant" means, with respect to the Depositary, Euroclear
or Clearstream, a Person who has an account with the Depositary, Euroclear or
Clearstream, respectively (and, with respect to DTC, shall include Euroclear or
Clearstream).

                  "Private Placement Legend" means the legend set forth in
Section 3.6(a) hereof.

                  "Purchase Agreement" means the Purchase Agreement, dated as of
May 2, 2001, by and among the Company and the parties named on the signature
page thereof, in their respective capacities as Initial Purchasers and as
representatives of each of the other Initial Purchasers named in Schedule I
thereto, as such agreement may be amended, modified or supplemented from time to
time.

                  "Record Date" has the meaning set forth in Section 2.5 hereof.

                  "Redemption Price" has the meaning set forth in Section 2.10
hereof.

                  "Reference Treasury Dealer Quotation" means, with respect to
each Reference Treasury Dealer and any Redemption Date, the average, as
determined by the Trustee, of the bid and asked prices for the Comparable
Treasury Issue (expressed in each case as a percentage of its principal amount)
quoted in writing to the Trustee by such Reference Treasury Dealer at 5:00 p.m.
(New York City time) on the third Business Day preceding the Redemption Date.

                  "Reference Treasury Dealers" means (A) Salomon Smith Barney
Inc. or any of the other Initial Purchasers (or their respective affiliates
which are Primary Treasury Dealers), and their respective successors; provided,
however, that if any of the foregoing shall cease to be a primary U.S.
Government securities dealer in New York City (a "Primary Treasury Dealer"), the

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Company will substitute therefor another Primary Treasury Dealer; and (B) any
other Primary Treasury Dealer(s) selected by the Trustee after consultation with
the Company.

                  "Registration Rights Agreement" means the Registration Rights
Agreement, dated as of May 7, 2001, by and among the Company and the other
parties named on the signature pages thereof, as such agreement may be amended,
modified or supplemented from time to time, relating to rights given by the
Company to the purchasers of the Original Series A Notes to register such notes,
or exchange such notes for Exchange Notes, under the Securities Act.

                  "Regulation S" means Regulation S promulgated under the
Securities Act.

                  "Regulation S Global Note" has the meaning set forth in
Section 2.7 hereof.

                  "Regulation S Legend" means the legend set forth in Section
3.6(b), which is required to be placed on all Regulation S Notes (and all Series
A Notes issued in exchange therefor or substitution thereof) issued under this
Indenture.

                  "Restricted Global Note" has the meaning set forth in Section
2.7 hereof.

                  "Restricted Notes" has the meaning specified in Section 2.7
hereof.

                  "Restricted Period" has the meaning set forth in Section 2.7
hereof.

                  "Rule 144" means Rule 144 under the Securities Act.

                  "Rule 144A" means Rule 144A promulgated under the Securities
Act.

                  "Securities Act" means the U.S. Securities Act of 1933 and
(unless the context otherwise requires) includes the rules and regulations of
the Commission promulgated thereunder.

                  "Series A Note" has the meaning set forth in Section 2.1
hereof.

                  "Treasury Rate" means, with respect to any redemption date,
the rate per annum equal to the semiannual equivalent yield to maturity of the
Comparable Treasury Issue, assuming a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such redemption date.

                  "Unrestricted Global Note" has the meaning set forth in
Section 2.7 hereof.

                  "Unrestricted Notes" has the meaning set forth in Section 2.7
hereof.

                                   ARTICLE II

                            DESIGNATION AND TERMS OF
                                 THE SECURITIES

                  SECTION 2.1 Title and Aggregate Principal Amount. There is
hereby created one series of Securities designated: 6.45 % Notes due 2006 (the
"Series A Notes").

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                  SECTION 2.2 Execution. The Series A Notes may forthwith be
executed by the Company and delivered to the Trustee for authentication and
delivery by the Trustee in accordance with the provisions of Section 2.04 of the
Original Indenture.

                  SECTION 2.3 Other Terms and Form of the Series A Notes. The
Series A Notes shall have and be subject to such other terms as provided in the
Indenture and shall be evidenced by one or more Global Notes in the form of
Exhibit A hereof and as set forth in Section 2.7 hereof.

                  SECTION 2.4 Further Issues. The Company may from time to time,
without the consent of the Holders of the Series A Notes and in accordance with
the Original Indenture and this Supplemental Indenture, create and issue further
notes having the same terms and conditions as the Series A Notes in all respects
(or in all respects except for the first payment of interest) so as to form a
single series with the Series A Notes.

                  SECTION 2.5 Interest and Principal. The Series A Notes will
mature on May 15, 2006 and will bear interest at the rate of 6.45 % per annum.
The Company will pay interest on the Series A Notes on each May 15 and November
15 (the "Interest Payment Dates"), beginning on November 15, 2001, to the
holders of record on the immediately preceding April 1 or October 1 (the "Record
Date"). Interest on the Series A Notes shall accrue from the most recent date to
which interest has been paid or, if no interest has been paid, from the date of
issuance. Payments of the principal of and interest on the Series A Notes shall
be made in U.S. Dollars, and the Series A Notes shall be denominated in U.S.
Dollars.

                  SECTION 2.6 Place of Payment. The place of payment where the
Series A Notes may be presented or surrendered for payment, where the principal
of and interest and any other payments due on the Series A Notes are payable,
where the Series A Notes may be surrendered for registration of transfer or
exchange and where notices and demands to and upon the Company in respect of the
Series A Notes and the Indenture may be served shall be in the Borough of
Manhattan, The City of New York, and the office or agency maintained by the
Company for such purpose shall initially be the Corporate Trust Office of the
Trustee.

                  SECTION 2.7 (a) Regulation S and Unrestricted Notes. Original
Series A Notes offered and sold in their initial distribution in reliance on
Regulation S shall be initially issued in the form of one or more Global Notes
in definitive, fully registered form without interest coupons, substantially in
the form of the Series A Note set forth in Exhibit A hereof, with such
applicable legends as are provided for in Section 3.6, except as otherwise
permitted herein. Such Global Notes shall be registered in the name of the
Depositary or its nominee and deposited with the Trustee, at its Corporate Trust
Office, as custodian for the Depositary, duly executed by the Company and
authenticated by the Trustee as provided in the Original Indenture, for credit
to the respective accounts at the Depositary of the depositories for Euroclear
or for Clearstream. Until such time as the Restricted Period (as defined below)
shall have terminated, such Global Notes shall be referred to herein
collectively as the "Regulation S Global Note." After such time as the
Restricted Period shall have terminated, such Global Notes shall be referred to
herein collectively as the "Unrestricted Global Notes." The aggregate principal
amount of the Regulation S Global Note or the Unrestricted Global Note may from
time to time be increased or decreased by adjustments made on the records of the
Trustee, as custodian for the Depositary, in connection with a corresponding
decrease or increase in the aggregate principal amount of the Restricted Global
Note, as provided herein. As used herein, the term "Restricted Period" means the
period of 40 consecutive days beginning on and including the first day after the
later of (i) the day that the Lead Manager advises the Company and the Trustee
is the day on which the Series A

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Notes are first offered to persons other than distributors (as defined in
Regulation S) in reliance on Regulation S and (ii) the Closing Date. The
Regulation S Global Note, the Unrestricted Global Note and all other Series A
Notes that are not Restricted Notes shall collectively be referred to herein as
the "Unrestricted Notes."

                  (b) Restricted Notes. Original Notes offered and sold in their
initial distribution in reliance on Rule 144A shall be issued in the form of one
or more Global Notes (collectively, the "Restricted Global Note") in definitive,
fully registered form without interest coupons, substantially in the form of the
Series A Note set forth in Exhibit A hereof, with such applicable legends as are
provided for in Section 3.6, except as otherwise permitted herein. Such Global
Note shall be registered in the name of the Depositary or its nominee and
deposited with the Trustee, at its Corporate Trust Office, as custodian for the
Depositary, duly executed by the Company and authenticated by the Trustee as
provided in the Original Indenture. The aggregate principal amount of the
Restricted Global Note may from time to time be increased or decreased by
adjustments made on the records of the Trustee, as custodian for the Depositary,
in connection with a corresponding decrease or increase in the aggregate
principal amount of the Regulation S Global Note or the Unrestricted Global
Note, as provided herein. The Restricted Global Note and all other Series A
Notes evidencing the debt, or any portion of the debt, initially evidenced by
such Note, other than Series A Notes transferred or exchanged upon certification
as provided in Sections 3.1 or 3.2, shall collectively be referred to herein as
the "Restricted Notes."

                  SECTION 2.8 Euroclear and Clearstream Procedures Applicable.
The provisions of the "Operating Procedures of the Euroclear System," the
"General Terms and Conditions of Clearstream Banking" and the "Customer
Handbook" of Clearstream, in each case, as in effect from time to time, shall be
applicable to transfers of beneficial interests in Global Notes sold pursuant to
the exemption to the registration requirements of the Securities Act afforded by
Regulation S and that are held by Participants through Euroclear or Clearstream.

                  SECTION 2.9 Depositary; Registrar. The Company initially
appoints The Depository Trust Company ("DTC") to act as Depositary with respect
to the Global Notes. The Company initially appoints the Trustee to act as the
Security Registrar and the paying agent and designates the Trustee's New York
office as the office or agency referred to in Section 2.05(b) of the Original
Indenture.

                  SECTION 2.10 Redemption. The Company at its option may, at any
time, redeem the Series A Notes, in whole or in part, upon payment of a
redemption price equal to (A) the greater of (i) 100% of the principal amount of
the Series A Notes to be redeemed on the Redemption Date and (ii) the sum of the
present values of the remaining scheduled payments of principal and interest on
the Series A Notes being redeemed on that Redemption Date (not including any
portion of any payment of interest accrued to the Redemption Date) discounted to
the Redemption Date on a semiannual basis at the Treasury Rate, plus 25 basis
points, as determined by the Reference Treasury Dealers, plus (B) in each case,
accrued and unpaid interest on the Series A Notes to the redemption date (the
"Redemption Price"). Notwithstanding the foregoing, installments of interest on
Series A Notes that are due and payable on Interest Payment Dates falling on or
prior to a Redemption Date will be payable on the Interest Payment Date to the
Holders as of the close of business on the relevant Record Date . The Redemption
Price shall be calculated on the basis of a 360-day year consisting of twelve
30-day months.

                  SECTION 2.11 Sinking Fund. The Series A Notes shall not be
redeemable at the option of any Holder thereof, upon the occurrence of any
particular circumstances or otherwise. The Series A Notes will not have the
benefit of any sinking fund.

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                                  ARTICLE III

                              TRANSFER AND EXCHANGE

                  SECTION 3.1 Transfer of Beneficial Interest in a Restricted
Global Note to Regulation S Global Note. If the Holder of a beneficial interest
in the Restricted Global Note wishes at any time to transfer such interest to a
Person who wishes to take delivery thereof in the form of a beneficial interest
in the Regulation S Global Note, such transfer may be effected, subject to the
Applicable Procedures, only in accordance with the provisions of this Section
3.1. Upon receipt by the Trustee, as Security Registrar, of (A) written
instructions given in accordance with the Applicable Procedures from a DTC
Participant directing the Trustee to credit or cause to be credited to a
specified DTC Participant's account a beneficial interest in the Regulation S
Global Note in a principal amount equal to that of the beneficial interest in
the Regulation S Global Note to be so transferred, (B) a written order given in
accordance with the Applicable Procedures containing information regarding the
account of the DTC Participant (and the Euroclear or Clearstream account, as the
case may be) to be credited with, and the account of the DTC Participant to be
debited for, such beneficial interest and (C) a certificate in substantially the
form set forth in Annex A given by the Holder of such beneficial interest, the
principal amount of the Restricted Global Note shall be reduced, and the
principal amount of the Regulation S Global Note shall be increased, by the
principal amount of the beneficial interest in the Restricted Global Note to be
so transferred, in each case by means of any appropriate adjustment on the
records of the Trustee, as Security Registrar, shall instruct the Depositary or
its authorized representative to make a corresponding adjustment to its records
and to credit or cause to be credited to the account of the Person specified in
such instructions (which shall be the DTC Participant for Euroclear or
Clearstream or both, as the case may be) a beneficial interest in the Regulation
S Global Note having a principal amount equal to the amount so transferred.

                  SECTION 3.2 Transfer of Beneficial Interest in a Restricted
Global Note to Unrestricted Global Note. If the Holder of a beneficial interest
in the Restricted Global Note wishes at any time to transfer such interest to a
Person who wishes to take delivery thereof in the form of a beneficial interest
in the Unrestricted Global Note, such transfer may be effected, subject to the
Applicable Procedures, only in accordance with this Section 3.2. Upon receipt by
the Trustee, as Security Registrar, of (A) written instructions given in
accordance with the Applicable Procedures from a DTC Participant directing the
Trustee to credit or cause to be credited to a specified DTC Participant's
account a beneficial interest in the Unrestricted Global Note to be so
transferred, (B) a written order given in accordance with the Applicable
Procedures containing information regarding the account of the DTC Participant
(and, if applicable, the Euroclear or Clearstream account, as the case may be)
to be credited with, and the account of the DTC Participant to be debited for,
such beneficial interest and (C) a certificate in substantially the form set
forth in Annex B given by the Holder of such beneficial interest, the principal
amount of the Restricted Global Note shall be reduced, and the principal amount
of the Regulation S Global Note shall be increased, by the principal amount of
the beneficial interest in the Restricted Global Note to be so transferred, in
each case by means of an appropriate adjustment on the records of the Trustee,
as Security Registrar, and the Trustee, as Security Registrar, shall instruct
the

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Depositary or its authorized representative to make a corresponding adjustment
to its records and to credit or cause to be credited to the account of the
Person specified in such instructions a beneficial interest in the Regulation S
Global Note having a principal amount equal to the amount so transferred.

                  SECTION 3.3 Transfer of Beneficial Interest in a Regulation S
Global Note or Unrestricted Global Security to Restricted Global Note. If the
Holder of a beneficial interest in the Regulation S Global Note or the
Unrestricted Global Note wishes at any time to transfer such interest to a
Person who wishes to take delivery thereof in the form of a beneficial interest
in the Restricted Global Note, such transfer may be effected, subject to the
Applicable Procedures, only in accordance with this Section 3.3. Upon receipt by
the Trustee, as Security Registrar, of (A) written instructions given in
accordance with the Applicable Procedures from a DTC Participant directing the
Trustee to credit or cause to be credited to a specific DTC Participant's
account a beneficial interest in the Restricted Global Note in a principal
amount equal to that of the beneficial interest in the Regulation S Global Note
or the Unrestricted Global Note to be so transferred, (B) a written order given
in accordance with the Applicable Procedures containing information regarding
the account of the DTC Participant to be credited with, and the account of the
DTC Participant (and, if applicable, the Euroclear or Clearstream account, as
the case may be) to be debited for, such beneficial interest and (C) with
respect to a transfer of a beneficial interest in the Regulation S Global Note
(but not the Unrestricted Global Note), a certificate in substantially the form
set forth in Annex C given by the Holder of such beneficial interest, the
principal amount of the Restricted Global Note shall be increased, by the
principal amount of the beneficial interest in the Restricted Global Note to be
so transferred, in each case by means of an appropriate adjustment on the
records of the Trustee, as Security Registrar, and the Trustee, as Security
Registrar, shall instruct the Depositary or its authorized representative to
make a corresponding adjustment to its records and to credit or cause to be
credited to the account of the Person specified in such instructions a
beneficial interest in the Regulation S Global Note having a principal amount
equal to the amount so transferred.

                  SECTION 3.4 Exchanges of Global Note for Non Global Note. In
the event that a Global Note or any portion thereof is exchanged for Series A
Notes other than Global Notes pursuant to Section 2.11 of the Original
Indenture, such other Notes may in turn be exchanged (on transfer or otherwise)
for Series A Notes that are not Global Notes or for beneficial interests in a
Global Note (if any is then Outstanding) only in accordance with such
procedures, which shall be substantially consistent with the provisions of
Sections 3.1, 3.2, 3.3 and 3.5 below (including the certification requirements
intended to insure that transfers and exchanges of beneficial interests in a
Global Note comply with Rule 144A, Rule 144 or Regulation S, as the case may be)
and any Applicable Procedures, as may be from time to time adopted by the
Company and the Trustee.

                  SECTION 3.5 Interests in Regulation S Global Note to be Held
Through Euroclear or Clearstream. Until the termination of the Restricted
Period, interests in the Regulation S Global Note may be held only through DTC
Participants acting for and on behalf of Euroclear and Clearstream, provided
that this Section 3.5 shall not prohibit any transfer in accordance with Section
3.3 hereof.

                  SECTION 3.6 Legends. The following legends shall, as indicated
below, appear on the face of Series A Notes issued under this Indenture unless
specifically stated otherwise in the applicable provisions of this Indenture.

                           (a) Private Placement Legend.

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                           (1) Except as permitted by subparagraph (2) below,
         each Restricted Note (and all Series A Notes issued in exchange
         therefor or substitution thereof) shall bear a legend in substantially
         the following form:

                  THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE
OR OTHER JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION
HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR
OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH
TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF
THIS SECURITY BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE
TRANSFER SUCH SECURITY, PRIOR TO THE DATE (THE "RESALE RESTRICTION TERMINATION
DATE") WHICH IS TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND
THE LAST DATE ON WHICH EITHER THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS
THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO
THE COMPANY, (B) PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED
EFFECTIVE UNDER THE SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE
FOR RESALE PURSUANT TO RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A
"QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT
THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN
RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR OUTSIDE THE
UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE SECURITIES ACT, OR
(E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT, SUBJECT TO THE RIGHT OF THE COMPANY AND THE TRUSTEE PRIOR
TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO CLAUSES (D) OR (E) TO REQUIRE
THE DELIVERY OF AN OPINION OF COUNSEL, CERTIFICATION AND/OR OTHER INFORMATION
SATISFACTORY TO EACH OF THEM. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF
THE HOLDER AFTER THE RESALE RESTRICTION TERMINATION DATE.

                           (2) Exchange Notes shall not bear the Private
         Placement Legend. The Private Placement Legend required for a
         Restricted Note may be removed from a Series A Note if there is
         delivered to the Company such satisfactory evidence, which may include
         an opinion of independent counsel licensed to practice law in the State
         of New York, as may be reasonably required by the Company that neither
         such legend nor the restrictions on transfer set forth therein are
         required to ensure that transfers of such Series A will not violate the
         registration requirements of the Securities Act. Upon provision of such
         satisfactory evidence, the Trustee, at the direction of the Company,
         shall authenticate and deliver in exchange for such Series A Note
         another Series A Note or Series A Notes having an equal aggregate
         principal amount that does not bear such legend. If such a legend
         required for a Restricted Note has been removed from a Series A Note as
         provided above, it shall not be a Restricted Note and no other Series A
         Note issued in exchange for all or any part of such Series A Notes
         shall bear such legend, unless the Company has reasonable cause to
         believe that such other Series A Note is a "restricted security" within
         the

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         meaning of Rule 144 and instructs the Trustee to cause a legend to
         appear thereon.

                           (b) Regulation S Legend. Each Regulation S Note (and
all Series A Notes issued in exchange therefor or substitution thereof) shall
bear a legend in substantially the following form:

                  THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933 (THE "SECURITIES ACT") AND MAY NOT BE OFFERED, SOLD OR
DELIVERED IN THE UNITED STATES OR TO, OR FOR THE BENEFIT OF, ANY U.S. PERSONS
UNLESS THIS SECURITY HAS BEEN REGISTERED UNDER THE SECURITIES ACT OR AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS THEREOF IS AVAILABLE.

THIS SECURITY MAY NOT LAWFULLY BE OFFERED OR SOLD TO PERSONS IN THE UNITED
KINGDOM EXCEPT IN CIRCUMSTANCES WHICH DO NOT RESULT IN AN OFFER TO THE PUBLIC IN
THE UNITED KINGDOM WITHIN THE MEANING OF THE PUBLIC OFFERS OF SECURITIES
REGULATIONS 1995 (THE "REGULATION S") AND WHICH ARE OTHERWISE IN COMPLIANCE WITH
ALL APPLICABLE PROVISIONS OF THE REGULATIONS.

                           (c) Global Note Legend. Each Global Note shall bear a
legend in substantially the following form:

"THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.07 OF THE ORIGINAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.11(c) OF THE ORIGINAL
INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.08 OF THE ORIGINAL INDENTURE AND (IV) EXCEPT
AS OTHERWISE PROVIDED IN SECTION 2.11 OF THE ORIGINAL INDENTURE, THIS SECURITY
MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER NOMINEE OF THE
DEPOSITARY OR TO A SUCCESSOR DEPOSITARY OR TO A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY."

                           (d) DTC Legend. Each Global Note for which DTC is
acting as the Depositary shall bear a legend in the following form:

                  UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, 55 WATER STREET, NEW YORK, NEW
YORK 10004, TO THE COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE
OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO.
OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CEDE &
CO., AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CEDE & CO., ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS

                                       10
<PAGE>

WRONGFUL BECAUSE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

                  SECTION 3.7 Cancellation and/or Adjustment of Global Notes. At
such time as all beneficial interests in a particular Global Note have been
exchanged for Definitive Notes or a particular Global Note has been redeemed,
repurchased or canceled in whole and not in part, each such Global Note shall be
returned to or retained and canceled by the Trustee in accordance with Section
2.08 of the Original Indenture. At any time prior to such cancellation, if any
beneficial interest in a Global Note is exchanged for or transferred to a Person
who will take delivery thereof in the form of a beneficial interest in another
Global Note or for Definitive Notes, the principal amount of Notes represented
by such Global Note shall be reduced accordingly and an endorsement shall be
made on such Global Note by the Trustee or by the Depositary at the direction of
the Trustee to reflect such reduction; and if the beneficial interest is being
exchanged for or transferred to a Person who will take delivery thereof in the
form of a beneficial interest in another Global Note, such other Global Note
shall be increased accordingly and an endorsement shall be made on such Global
Note by the Trustee or by the Depositary at the direction of the Trustee to
reflect such increase.

                                   ARTICLE IV

                                   DEFEASANCE

                  SECTION 4.1 Defeasance and Covenant Defeasance. Section 11.02
of the Original Indenture shall be applicable to the Series A Notes.

                                    ARTICLE V

                                  MISCELLANEOUS

                  SECTION 5.1 Execution of Supplemental Indenture. This First
Supplemental Indenture is executed and shall be construed as an indenture
supplemental to the Original Indenture and, as provided in the Original
Indenture, this First Supplemental Indenture forms a part thereof.

                  SECTION 5.2 Concerning the Trustee. The recitals contained
herein and in the Series A Notes, except with respect to the Trustee's
certificates of authentication, shall be taken as the statements of the Company,
and the Trustee assumes no responsibility for the correctness of the same. The
Trustee makes no representations as to the validity or sufficiency of this First
Supplemental Indenture or of the Series A Notes.

                  SECTION 5.3 Counterparts. This First Supplemental Indenture
may be executed in any number of counterparts, each of which when so executed
shall be deemed to be an original, but all such counterparts shall together
constitute one and the same instrument.

                  SECTION 5.4 GOVERNING LAW. THIS FIRST SUPPLEMENTAL INDENTURE
AND EACH NOTE OF THE SERIES CREATED HEREUNDER SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

                                       11
<PAGE>

                   IN WITNESS WHEREOF, the parties have caused this First
Supplemental Indenture to be duly executed by their respective officers
thereunto duly authorized as of the date first above written.

                                       INTERNATIONAL FLAVORS & FRAGRANCES INC.

                                       By:    ___________________________
                                       Name:  ___________________________
                                       Title: ___________________________

                                       BANK ONE TRUST COMPANY, N.A., as Trustee

                                       By:    ___________________________
                                       Name:  ___________________________
                                       Title: ___________________________

                                       12<PAGE>

                                                                   Exhibit 4.2.1
No. A-1
                                                                    $500,000,000
                                                                 CUSIP 459506AA9

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.

                              6.45% Notes Due 2006

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, 55 WATER STREET, NEW YORK, NEW YORK 10004, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CEDE & CO., AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY
BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH
SECURITY, PRIOR TO THE DATE (THE "RESALE RESTRICTION TERMINATION DATE") WHICH IS
TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON
WHICH EITHER THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B)
PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE
SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL
BUYER" AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING

<PAGE>

MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR
OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT, OR (E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE RIGHT OF THE
COMPANY AND THE TRUSTEE PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO
CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND
WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION
TERMINATION DATE.

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.07 OF THE ORIGINAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.11(c) OF THE ORIGINAL
INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.08 OF THE ORIGINAL INDENTURE AND (IV) EXCEPT
AS OTHERWISE PROVIDED IN SECTION 2.11 OF THE ORIGINAL INDENTURE, THIS SECURITY
MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER NOMINEE OF THE
DEPOSITARY OR TO A SUCCESSOR DEPOSITARY OR TO A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.

                  INTERNATIONAL FLAVORS & FRAGRANCES INC., a corporation duly
organized and validly existing under the laws of the State of New York (the
"Company"), which term includes any successor corporation under the Indenture
referred to on the reverse hereof, for value received hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of 500,000,000 Dollars
(subject to adjustment as set forth in the next paragraph hereof) on May 15,
2006, at the office or agency of the Company maintained for that purpose in the
Borough of Manhattan, The City of New York, or, at the option of the holder of
this Restricted Global Note, at the Corporate Trust Office of the Trustee, in
such coin or currency of the United States of America as at the time of payment
shall be legal tender for the payment of public and private debts, and to pay
interest, semi-annually on May 15 and November 15 of each year, commencing
November 15, 2001, on said principal sum at said office or agency, in like coin
or currency, at the rate per annum specified in the title of this Restricted
Global Note, or unless no interest has been paid or duly provided for on the
Notes, in which case from May 7, 2001, until payment of said principal sum has
been made or duly provided for. The interest so payable on any May 15 or
November 15 will be paid to the person in

<PAGE>

whose name this Restricted Global Note is registered at the close of business on
the record date, which shall be the April 1 or October 1 (whether or not a
Business Day) next preceding such May 15 or November 15, respectively; provided
that any such interest not punctually paid or duly provided for shall be payable
as provided in the Indenture. Interest shall be paid by check mailed to the
registered holder at the registered address of such person unless other
arrangements are made in accordance with the provisions of the Indenture. So
long as this Restricted Global Note is a Global Security, then, notwithstanding
the immediate preceding sentence, each such payment will be made in accordance
with the procedures of the Depositary as then in effect.

                  The aggregate principal amount of this Restricted Global Note
represented hereby may from time to time be reduced or increased to reflect
exchanges of a part of this Restricted Global Note for interests in the
Regulation S Global Note or Unrestricted Notes or exchanges of interests in the
Regulation S Global Note or Unrestricted Notes for a part of this Restricted
Global Note or redemptions or repurchases of a part of this Restricted Global
Note or cancellations of a part of this Restricted Global Note or transfers of
interests in the Regulation S Global Note or Unrestricted Notes in return for a
part of this Restricted Global Note or transfers of a part of this Restricted
Global Note effected by delivery of interests in the Regulation S Global Note or
Unrestricted Notes, in each case, and in any such case, by means of notations on
the Schedule of Exchanges, Redemptions, Repurchases, Cancellations and Transfers
on the last page hereof. Notwithstanding any provision of this Restricted Global
Note to the contrary, (i) exchanges of a part of this Restricted Global Note for
interests in the Regulation S Global Note or Unrestricted Notes, (ii) exchanges
of interests in the Regulation S Global Note or Unrestricted Notes for a part of
this Restricted Global Note, (iii) redemptions or repurchases of a part of this
Restricted Global Note, (iv) cancellations of a part of this Restricted Global
Note, (v) transfers of interests in the Regulation S Global Note or Unrestricted
Notes in return for a part of this Restricted Global Note and (vi) transfers of
a part of this Restricted Global Note effected by delivery of interests in the
Regulation S Global Note or Unrestricted Notes may be effected without the
surrendering of this Restricted Global Note, provided that appropriate notations
on the Schedule of Exchanges, Redemptions, Repurchases, Cancellations and
Transfers are made by the Trustee, or the Custodian at the direction of the
Trustee, to reflect the appropriate reduction or increase, as the case may be,
in the aggregate principal amount of this Restricted Global Note resulting
therefrom or as a consequence thereof.

                  Reference is made to the further provisions of this Restricted
Global Note set forth on the reverse hereof. Such further provisions shall for
all purposes have the same effect as though fully set forth at this place.

                  This Restricted Global Note shall be deemed to be a contract
made under the laws of the State of New York, and for all purposes shall be
construed in accordance

<PAGE>

with and governed by the laws of said State, without regard to conflicts of laws
principles thereof.

                  This Restricted Global Note shall not be valid or become
obligatory for any purpose until the certificate of authentication hereon shall
have been manually signed by the Trustee or a duly authorized authenticating
agent under the Indenture.

<PAGE>

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.

                              6.45% Notes Due 2006

                  This Security is one of a duly authorized issue of Securities
of the Company, designated as its 6.45% Notes due 2006 (herein called the
"Notes," which expression includes any further notes issued pursuant to Section
2.7 of the Supplemental Indenture (as hereinafter defined) and forming a single
series therewith), issued and to be issued under an indenture, dated as of May
1, 2001 (herein called the "Original Indenture"), as supplemented by a
supplemental indenture, dated as of May 7, 2001 (the "Supplemental Indenture,"
and together with the Original Indenture, the "Indenture"), between the Company
and Bank One Trust Company, N.A., as trustee (the "Trustee"), to which Indenture
and all indentures supplemental thereto relevant to the Notes reference is
hereby made for a complete description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Trustee, the Company and
the holders of the Notes. Each Note is subject to, and qualified by, all such
terms as set forth in the Indenture certain of which are summarized hereon and
each holder of a Note is referred to the corresponding provisions of the
Indenture for a complete statement of such terms. To the extent that there is
any inconsistency between the summary provisions set forth in the Notes and the
Indenture, the provisions of the Indenture shall govern. Capitalized terms used
but not defined in this Note shall have the meanings ascribed to them in the
Indenture.

                  In case an Event of Default, as defined in the Indenture,
shall have occurred and be continuing, the principal of, premium, if any, and
accrued interest on all Notes may be declared, and upon said declaration shall
become, due and payable, in the manner, with the effect and subject to the
conditions provided in the Indenture.

                  The Indenture contains provisions permitting the Company and
the Trustee, with the consent of the holders of not less than a majority in
aggregate principal amount of the Notes at the time outstanding, evidenced as in
the Indenture provided, to execute supplemental indentures adding any provisions
to or changing in any manner or eliminating any of the provisions of the
Indenture or of any supplemental indenture or modifying in any manner the rights
of the holders of the Notes; provided that no such supplemental indenture shall
(i) extend the fixed maturity of any Note, or reduce the rate or extend the time
of payment of interest thereon, or reduce the principal amount thereof or
premium, if any, thereon, or reduce any amount payable on redemption thereof, or
impair or affect the right of any Noteholder to institute suit for the payment
thereof, or make the principal thereof or interest or premium, if any, thereon
payable in any coin or currency other than that provided in the Notes without
the consent of the holder of each Note so affected or (ii) reduce the aforesaid
percentage of Notes, the holders of which are required to consent to any such
supplemental indenture, without the consent of the holders of all Notes then
outstanding. It is also provided in the Indenture that, prior to any declaration
acceler-

<PAGE>

ating the maturity of the Notes, the holders of a majority in aggregate
principal amount of the Notes at the time outstanding may on behalf of the
holders of all of the Notes waive any past default or Event of Default under the
Indenture and its consequences except a default in the payment of interest or
any premium on or the principal of any of the Notes or a default in respect of a
covenant or provision of the Indenture that under Article IX thereof cannot be
modified or amended without the consent of the holders of all Notes then
outstanding. Any such consent or waiver by the holder of this Note (unless
revoked as provided in the Indenture) shall be conclusive and binding upon such
holder and upon all future holders and owners of this Note and any Notes that
may be issued in exchange or substitution hereof, irrespective of whether or not
any notation thereof is made upon this Note or such other Notes.

                  No reference herein to the Indenture and no provision of this
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and
interest on this Note at the place, at the respective times, at the rate and in
the coin or currency herein prescribed.

                  Interest on the Notes shall be computed on the basis of a
360-day year composed of twelve 30-day months.

                  The Notes are issuable in registered form without coupons in
denominations of $1,000 principal amount and integral multiples thereof. At the
office or agency of the Company referred to on the face hereof, and in the
manner and subject to the limitations provided in the Indenture, without payment
of any service charge but with payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any
registration or exchange of Notes, Notes may be exchanged for a like aggregate
principal amount of Notes of other authorized denominations.

                  The Notes may be redeemed at the Company's option, upon notice
as set forth in the Indenture, in whole at any time or in part from time to
time, at a redemption price equal to (A) the greater of (i) 100% of the
principal amount of the Notes to be redeemed on the Redemption Date and (ii) the
sum of the present values of the remaining scheduled payments of principal and
interest on the Notes being redeemed on that Redemption Date (not including any
portion of any payment of interest accrued to the Redemption Date) discounted to
the Redemption Date on a semiannual basis at the Treasury Rate, plus 25 basis
points, as determined by the Reference Treasury Dealers, plus (B) in each case,
accrued and unpaid interest on the Notes to the redemption date; provided that
if the date fixed for redemption is on a date or after the record date and on or
before the next following interest payment date, then the interest payable on
such date shall be paid to the holder of record on the next preceding May 15 or
November 15, respectively.

                  Upon due presentment for registration of transfer of this Note
at the office or agency of the Company in the Borough of Manhattan, The City of
New York, or at the option of the holder of this Note, at the Corporate Trust
Office of the Trustee, a new Note or Notes of

<PAGE>

authorized denominations for an equal aggregate principal amount will be issued
to the transferee in exchange thereof, subject to the conditions and limitations
provided in the Indenture, without charge except for any tax or other
governmental charge imposed in connection therewith.

                  The Company, the Trustee, any authenticating agent, any paying
agent and any Note registrar may deem and treat the registered holder hereof as
the absolute owner of this Note (whether or not this Note shall be overdue and
notwithstanding any notation of ownership or other writing hereon made by anyone
other than the Company or any Note registrar), for the purpose of receiving
payment hereof, or on account hereof and for all other purposes, and neither the
Company nor the Trustee nor any other authenticating agent nor any paying agent
nor any Note registrar shall be affected by any notice to the contrary. All
payments made to or upon the order of such registered holder shall, to the
extent of the sum or sums paid, satisfy and discharge liability for monies
payable on this Note.

                  No recourse for the payment of the principal of or any premium
or interest on this Note, or for any claim based hereon or otherwise in respect
hereof, and no recourse under or upon any obligation, covenant or agreement of
the Company in the Indenture or any indenture supplemental thereto or in any
Note, or because of the creation of any indebtedness represented thereby, shall
be had against any incorporator, stockholder, officer or director, as such,
past, present or future, of the Company or of any successor corporation, either
directly or through the Company or any successor corporation, whether by virtue
of any constitution, statute or rule of law or by the enforcement of any
assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issue hereof, expressly waived
and released.

                  Subject to certain conditions set forth in the Indenture, the
Company at any time may terminate some or all of its obligations under the Notes
and the Indenture if the Company deposits with the Trustee money or Governmental
Obligations for the payment of principal of, premium, if any, and interest on
the Notes to redemption or maturity, as the case may be.

                  Pursuant to the Registration Rights Agreement by and among the
Company and the Initial Purchasers, the Company is obligated to consummate an
exchange offer pursuant to the which the Holder of this Note shall, subject to
the conditions set forth in the Registration Rights Agreement, have the right to
exchange this Note for an Exchange Note, which has been registered under the
Securities Act of 1933, as amended, in like principal amount and having
identical terms as the Notes (other than as set forth in this paragraph). The
Holders of Notes shall be entitled to receive certain additional interest
payments in the event such exchange offer is not consummated and upon certain
other conditions, all pursuant to and in accordance with the terms of the
Registration Rights Agreement.

<PAGE>

                                  ABBREVIATIONS

                  The following abbreviations, when used in the inscription of
the face of this Restricted Global Note, shall be construed as though they were
written out in full according to applicable laws or regulations:

<TABLE>
<CAPTION>
<S>               <C>                                           <C>
TEN COM -         as tenants in common                          UNIF GIFT MIN ACT -
TEN ENT -         as tenants by the entireties                  ________________ Custodian
JT TEN -          as joint tenants with right of                         (Cust)
                  survivorship and not as tenants in            ________________ under
                  common                                                 (Minor)
                                                                Uniform Gifts to
                                                                Minors Act ___________________
                                                                                (State)
</TABLE>

                      Additional abbreviations may also be
                       used though not in the above list.

<PAGE>

                  For value received _______________hereby sell(s), assign(s)
and transfer(s) unto _________(please insert social security or other
identifying number of assignee) the within Note, and hereby irrevocably
constitutes and appoints ______________attorney to transfer the said Note on the
books of the Company, with full power of substitution in the premises.

                  In connection with any transfer of the within Note occurring
prior to the second anniversary of the date of original issuance of such Note,
the undersigned confirms that such Note is being transferred:

         |_|      To International Flavors & Fragrances Inc. or a subsidiary
                  thereof; or

         |_|      Pursuant to and in compliance with Rule 144A under the
                  Securities Act of 1933, as amended; or

         |_|      Pursuant to a Registration Statement that has been declared
                  effective under the Securities Act; or

         |_|      Pursuant to and in compliance with Regulation S under the
                  Securities Act of 1933, as amended; or

         |_|      Pursuant to and in compliance with Rule 144 under the
                  Securities Act of 1933, as amended.

                  Unless one of the boxes above is checked, the Trustee will
refuse to register any of the within Notes in the name of any person other than
the registered holder thereof (or hereof); provided, however, that the Trustee
may, in its sole discretion, register the transfer of such Notes if it has
received such certifications, legal opinions and/or other information as the
Company has reasonably requested to confirm that such transfer is being made
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933, as amended.

                  In addition, if the transferee is a purchaser who is not a
U.S. person, the holder must furnish to the Trustee certifications, legal
opinions or other information as it may reasonably require to confirm that such
transfer is being made pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act of 1933, as
amended.

<PAGE>

Dated:___________________________________

_________________________________________

_________________________________________

Signature(s)

Signature(s) must be guaranteed by an eligible Guarantor Institution (banks,
stock brokers, savings and loan associations and credit unions) with membership
in an approved signature guarantee medallion program pursuant to Securities and
Exchange Commission Rule 17Ad-15.

________________________________________
Signature Guarantee

<PAGE>

                 SCHEDULE OF EXCHANGES, REDEMPTIONS, REPURCHASES
                           CANCELLATIONS AND TRANSFERS

                  The initial principal amount of this Restricted Global Note is
U.S. $500,000,000. The following additions to principal, redemptions,
repurchases, exchanges of a part of this Restricted Global Note for an interest
in the Regulation S Global Note or Unrestricted Notes have been made:

<TABLE>
<CAPTION>
===================================================================================================================================
                                                               Principal
                                                                 Amount
                                                               Redeemed,                  Remaining
          Date of            Principal Amount Added on        Repurchased,                Principal
        Addition to           Exchange of Interest in        Exchanged for                 Amount                    Notation
        Principal,            the Regulation S Global         Interest in                Outstanding                Made by or
        Redemption,            Note or Unrestricted               the                     Following                on behalf of
        Repurchase                     Notes                  Regulation S                  such                   the Trustee
        or Exchange                                           Global Note                Transaction
                                                            or Unrestricted
                                                                 Notes
<S>                          <C>                            <C>                          <C>                       <C>
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

===================================================================================================================================
</TABLE>

<PAGE>

No. B-1                                                                      $0
                                                                CUSIP U45950AA7

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.

                              6.45% Notes Due 2006

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, 55 WATER STREET, NEW YORK, NEW YORK 10004, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CEDE & CO., AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933 (THE "SECURITIES ACT") AND MAY NOT BE OFFERED, SOLD OR DELIVERED IN THE
UNITED STATES OR TO, OR FOR THE BENEFIT OF, ANY U.S. PERSONS UNLESS THIS
SECURITY HAS BEEN REGISTERED UNDER THE SECURITIES ACT OR AN EXEMPTION FROM THE
REGISTRATION REQUIREMENTS THEREOF IS AVAILABLE.

THIS SECURITY MAY NOT LAWFULLY BE OFFERED OR SOLD TO PERSONS IN THE UNITED
KINGDOM EXCEPT IN CIRCUMSTANCES WHICH DO NOT RESULT IN AN OFFER TO THE PUBLIC IN
THE UNITED KINGDOM WITHIN THE MEANING OF THE PUBLIC OFFERS OF SECURITIES
REGULATIONS 1995 (THE "REGULATION S") AND WHICH ARE OTHERWISE IN COMPLIANCE WITH
ALL APPLICABLE PROVISIONS OF THE REGULATIONS.

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.07 OF THE ORIGINAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.11(c) OF THE ORIGINAL
IN-

<PAGE>

DENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION
PURSUANT TO SECTION 2.08 OF THE ORIGINAL INDENTURE AND (IV) EXCEPT AS OTHERWISE
PROVIDED IN SECTION 2.11 OF THE ORIGINAL INDENTURE, THIS SECURITY MAY BE
TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER NOMINEE OF THE DEPOSITARY
OR TO A SUCCESSOR DEPOSITARY OR TO A NOMINEE OF SUCH SUCCESSOR DEPOSITARY.

                  INTERNATIONAL FLAVORS & FRAGRANCES INC., a corporation duly
organized and validly existing under the laws of the State of New York (the
"Company"), which term includes any successor corporation under the Indenture
referred to on the reverse hereof, for value received hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of Zero Dollars (subject to
adjustment as set forth in the next paragraph hereof) on May 15, 2006, at the
office or agency of the Company maintained for that purpose in the Borough of
Manhattan, The City of New York, or, at the option of the holder of this
Regulation S Global Note, at the Corporate Trust Office of the Trustee, in such
coin or currency of the United States of America as at the time of payment shall
be legal tender for the payment of public and private debts, and to pay
interest, semi-annually on May 15 and November 15 of each year, commencing
November 15, 2001, on said principal sum at said office or agency, in like coin
or currency, at the rate per annum specified in the title of this Regulation S
Global Note, or unless no interest has been paid or duly provided for on the
Notes, in which case from May 7, 2001, until payment of said principal sum has
been made or duly provided for. The interest so payable on any May 15 or
Novmeber 15 will be paid to the person in whose name this Regulation S Global
Note is registered at the close of business on the record date, which shall be
the April 1 or October 1 (whether or not a Business Day) next preceding such May
15 or November 15, respectively; provided that any such interest not punctually
paid or duly provided for shall be payable as provided in the Indenture.
Interest shall be paid by check mailed to the registered holder at the
registered address of such person unless other arrangements are made in
accordance with the provisions of the Indenture. So long as this Regulation S
Global Note is a Global Security, then, notwithstanding the immediate preceding
sentence, each such payment will be made in accordance with the procedures of
the Depositary as then in effect.

                  The aggregate principal amount of this Regulation S Global
Note represented hereby may from time to time be reduced or increased to reflect
exchanges of a part of this Regulation S Global Note for interests in the
Restricted Global Note or Unrestricted Notes or exchanges of interests in the
Restricted Global Note or Unrestricted Notes for a part of this Regulation S
Global Note or redemptions or repurchases of a part of this Regulation S Global
Note or cancellations of a part of this Regulation S Global Note or transfers of
interests in the Restricted Global Note or Unrestricted Notes in return for a
part of this Regulation S Global Note or transfers of a part of this Regulation
S Global Note effected by delivery of interests in the Restricted Global Note or
Unrestricted Notes, in each case, and in any such case, by means of notations on
the Schedule of Exchanges, Redemptions, Repurchases, Cancellations and Transfers
on the last page hereof. Notwithstanding any provision of this Regulation S
Global Note to the

<PAGE>

contrary, (i) exchanges of a part of this Regulation S Global Note for interests
in the Restricted Global Note or Unrestricted Notes, (ii) exchanges of interests
in the Restricted Global Note or Unrestricted Notes for a part of this
Regulation S Global Note, (iii) redemptions or repurchases of a part of this
Regulation S Global Note, (iv) cancellations of a part of this Regulation S
Global Note, (v) transfers of interests in the Restricted Global Note or
Unrestricted Notes in return for a part of this Regulation S Global Note and
(vi) transfers of a part of this Regulation S Global Note effected by delivery
of interests in the Restricted Global Note or Unrestricted Notes may be effected
without the surrendering of this Regulation S Global Note, provided that
appropriate notations on the Schedule of Exchanges, Redemptions, Repurchases,
Cancellations and Transfers are made by the Trustee, or the Custodian at the
direction of the Trustee, to reflect the appropriate reduction or increase, as
the case may be, in the aggregate principal amount of this Regulation S Global
Note resulting therefrom or as a consequence thereof.

                  Reference is made to the further provisions of this Regulation
S Global Note set forth on the reverse hereof. Such further provisions shall for
all purposes have the same effect as though fully set forth at this place.

                  This Regulation S Global Note shall be deemed to be a contract
made under the laws of the State of New York, and for all purposes shall be
construed in accordance with and governed by the laws of said State, without
regard to conflicts of laws principles thereof.

                  This Regulation S Global Note shall not be valid or become
obligatory for any purpose until the certificate of authentication hereon shall
have been manually signed by the Trustee or a duly authorized authenticating
agent under the Indenture.

<PAGE>

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.

                              6.45% Notes Due 2006

                  This Security is one of a duly authorized issue of Securities
of the Company, designated as its 6.45% Notes due 2006 (herein called the
"Notes," which expression includes any further notes issued pursuant to Section
2.7 of the Supplemental Indenture (as hereinafter defined) and forming a single
series therewith), issued and to be issued under an indenture, dated as of May
1, 2001 (herein called the "Original Indenture"), as supplemented by a
supplemental indenture, dated as of May 7, 2001 (the "Supplemental Indenture,"
and together with the Original Indenture, the "Indenture"), between the Company
and Bank One Trust Company, N.A., as trustee (the "Trustee"), to which Indenture
and all indentures supplemental thereto relevant to the Notes reference is
hereby made for a complete description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Trustee, the Company and
the holders of the Notes. Each Note is subject to, and qualified by, all such
terms as set forth in the Indenture certain of which are summarized hereon and
each holder of a Note is referred to the corresponding provisions of the
Indenture for a complete statement of such terms. To the extent that there is
any inconsistency between the summary provisions set forth in the Notes and the
Indenture, the provisions of the Indenture shall govern. Capitalized terms used
but not defined in this Note shall have the meanings ascribed to them in the
Indenture.

                  In case an Event of Default, as defined in the Indenture,
shall have occurred and be continuing, the principal of, premium, if any, and
accrued interest on all Notes may be declared, and upon said declaration shall
become, due and payable, in the manner, with the effect and subject to the
conditions provided in the Indenture.

                  The Indenture contains provisions permitting the Company and
the Trustee, with the consent of the holders of not less than a majority in
aggregate principal amount of the Notes at the time outstanding, evidenced as in
the Indenture provided, to execute supplemental indentures adding any provisions
to or changing in any manner or eliminating any of the provisions of the
Indenture or of any supplemental indenture or modifying in any manner the rights
of the holders of the Notes; provided that no such supplemental indenture shall
(i) extend the fixed maturity of any Note, or reduce the rate or extend the time
of payment of interest thereon, or reduce the principal amount thereof or
premium, if any, thereon, or reduce any amount payable on redemption thereof, or
impair or affect the right of any Noteholder to institute suit for the payment
thereof, or make the principal thereof or interest or premium, if any, thereon
payable in any coin or currency other than that provided in the Notes without
the consent of the holder of each Note so affected or (ii) reduce the aforesaid
percentage of Notes, the holders of which are required to consent to any such
supplemental indenture, without the consent of the holders of all Notes then
outstanding. It is also provided in the Indenture that, prior to any declaration
accelerating the maturity of the Notes, the holders of a majority in aggregate
principal amount of the

<PAGE>

Notes at the time outstanding may on behalf of the holders of all of the Notes
waive any past default or Event of Default under the Indenture and its
consequences except a default in the payment of interest or any premium on or
the principal of any of the Notes or a default in respect of a covenant or
provision of the Indenture that under Article IX thereof cannot be modified or
amended without the consent of the holders of all Notes then outstanding. Any
such consent or waiver by the holder of this Note (unless revoked as provided in
the Indenture) shall be conclusive and binding upon such holder and upon all
future holders and owners of this Note and any Notes that may be issued in
exchange or substitution hereof, irrespective of whether or not any notation
thereof is made upon this Note or such other Notes.

                  No reference herein to the Indenture and no provision of this
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and
interest on this Note at the place, at the respective times, at the rate and in
the coin or currency herein prescribed.

                  Interest on the Notes shall be computed on the basis of a
360-day year composed of twelve 30-day months.

                  The Notes are issuable in registered form without coupons in
denominations of $1,000 principal amount and integral multiples thereof. At the
office or agency of the Company referred to on the face hereof, and in the
manner and subject to the limitations provided in the Indenture, without payment
of any service charge but with payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any
registration or exchange of Notes, Notes may be exchanged for a like aggregate
principal amount of Notes of other authorized denominations.

                  The Notes may be redeemed at the Company's option, upon notice
as set forth in the Indenture, in whole at any time or in part from time to
time, at a redemption price equal to (A) the greater of (i) 100% of the
principal amount of the Notes to be redeemed on the Redemption Date and (ii) the
sum of the present values of the remaining scheduled payments of principal and
interest on the Notes being redeemed on that Redemption Date (not including any
portion of any payment of interest accrued to the Redemption Date) discounted to
the Redemption Date on a semiannual basis at the Treasury Rate, plus 25 basis
points, as determined by the Reference Treasury Dealers, plus (B) in each case,
accrued and unpaid interest on the Notes to the redemption date; provided that
if the date fixed for redemption is on a date or after the record date and on or
before the next following interest payment date, then the interest payable on
such date shall be paid to the holder of record on the next preceding May 15 or
November 15, respectively.

                  Upon due presentment for registration of transfer of this Note
at the office or agency of the Company in the Borough of Manhattan, The City of
New York, or at the option of the holder of this Note, at the Corporate Trust
Office of the Trustee, a new Note or Notes of authorized denominations for an
equal aggregate principal amount will be issued to the

<PAGE>

transferee in exchange thereof, subject to the conditions and limitations
provided in the Indenture, without charge except for any tax or other
governmental charge imposed in connection therewith.

                  The Company, the Trustee, any authenticating agent, any paying
agent and any Note registrar may deem and treat the registered holder hereof as
the absolute owner of this Note (whether or not this Note shall be overdue and
notwithstanding any notation of ownership or other writing hereon made by anyone
other than the Company or any Note registrar), for the purpose of receiving
payment hereof, or on account hereof and for all other purposes, and neither the
Company nor the Trustee nor any other authenticating agent nor any paying agent
nor any Note registrar shall be affected by any notice to the contrary. All
payments made to or upon the order of such registered holder shall, to the
extent of the sum or sums paid, satisfy and discharge liability for monies
payable on this Note.

                  No recourse for the payment of the principal of or any premium
or interest on this Note, or for any claim based hereon or otherwise in respect
hereof, and no recourse under or upon any obligation, covenant or agreement of
the Company in the Indenture or any indenture supplemental thereto or in any
Note, or because of the creation of any indebtedness represented thereby, shall
be had against any incorporator, stockholder, officer or director, as such,
past, present or future, of the Company or of any successor corporation, either
directly or through the Company or any successor corporation, whether by virtue
of any constitution, statute or rule of law or by the enforcement of any
assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issue hereof, expressly waived
and released.

                  Subject to certain conditions set forth in the Indenture, the
Company at any time may terminate some or all of its obligations under the Notes
and the Indenture if the Company deposits with the Trustee money or Governmental
Obligations for the payment of principal of, premium, if any, and interest on
the Notes to redemption or maturity, as the case may be.

                  Pursuant to the Registration Rights Agreement by and among the
Company and the Initial Purchasers, the Company is obligated to consummate an
exchange offer pursuant to the which the Holder of this Note shall, subject to
the conditions set forth in the Registration Rights Agreement, have the right to
exchange this Note for an Exchange Note, which has been registered under the
Securities Act of 1933, as amended, in like principal amount and having
identical terms as the Notes (other than as set forth in this paragraph). The
Holders of Notes shall be entitled to receive certain additional interest
payments in the event such exchange offer is not consummated and upon certain
other conditions, all pursuant to and in accordance with the terms of the
Registration Rights Agreement.

<PAGE>

                                  ABBREVIATIONS

                  The following abbreviations, when used in the inscription of
the face of this Restricted Global Note, shall be construed as though they were
written out in full according to applicable laws or regulations:

<TABLE>
<CAPTION>
<S>               <C>                                           <C>
TEN COM -         as tenants in common                          UNIF GIFT MIN ACT -
TEN ENT -         as tenants by the entireties                  ________________ Custodian
JT TEN -          as joint tenants with right of                         (Cust)
                  survivorship and not as tenants in            ________________ under
                  common                                                 (Minor)
                                                                Uniform Gifts to
                                                                Minors Act ___________________
                                                                                 (State)
</TABLE>

                      Additional abbreviations may also be
                       used though not in the above list.

<PAGE>

                  For value received _______________hereby sell(s), assign(s)
and transfer(s) unto _________(please insert social security or other
identifying number of assignee) the within Note, and hereby irrevocably
constitutes and appoints ______________attorney to transfer the said Note on the
books of the Company, with full power of substitution in the premises.

                  In connection with any transfer of the within Note occurring
prior to the second anniversary of the date of original issuance of such Note,
the undersigned confirms that such Note is being transferred:

         |_|      To International Flavors & Fragrances Inc. or a subsidiary
                  thereof; or

         |_|      Pursuant to and in compliance with Rule 144A under the
                  Securities Act of 1933, as amended; or

         |_|      Pursuant to a Registration Statement that has been declared
                  effective under the Securities Act;

         |_|      Pursuant to and in compliance with Regulation S under the
                  Securities Act of 1933, as amended; or

         |_|      Pursuant to and in compliance with Rule 144 under the
                  Securities Act of 1933, as amended.

                  Unless one of the boxes above is checked, the Trustee will
refuse to register any of the within Notes in the name of any person other than
the registered holder thereof (or hereof); provided, however, that the Trustee
may, in its sole discretion, register the transfer of such Notes if it has
received such certifications, legal opinions and/or other information as the
Company has reasonably requested to confirm that such transfer is being made
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933, as amended.

                  In addition, if the transferee is a purchaser who is not a
U.S. person, the holder must furnish to the Trustee certifications, legal
opinions or other information as it may reasonably require to confirm that such
transfer is being made pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act of 1933, as
amended.

<PAGE>

Dated:____________________________________

__________________________________________

__________________________________________

Signature(s)

Signature(s) must be guaranteed by an eligible Guarantor Institution (banks,
stock brokers, savings and loan associations and credit unions) with membership
in an approved signature guarantee medallion program pursuant to Securities and
Exchange Commission Rule 17Ad-15.

__________________________________________
 Signature Guarantee

<PAGE>

                SCHEDULE OF EXCHANGES, REDEMPTIONS, REPURCHASES,
                           CANCELLATIONS AND TRANSFERS

                  The initial principal amount of this Regulation S Global Note
is U.S.$ 0. The following additions to principal, redemptions, repurchases,
exchanges of a part of this Regulation S Global Note for an interest in the
Restricted Global Note or Unrestricted Notes have been made:

<TABLE>
<CAPTION>
==================================================================================================================================
                                                               Principal
                                    Principal                    Amount
                                   Amount Added                Redeemed,                  Remaining
          Date of                       on                    Repurchased,                Principal
        Addition to                 Exchange of              Exchanged for                 Amount                  Notation
        Principal,                  Interest in               Interest in                Outstanding              Made by or
        Redemption,                     the                       the                     Following              on behalf of
        Repurchase                  Restricted                 Restricted                   such                 the Trustee
        or Exchange                 Global Note               Global Note                Transaction
                                  or Unrestricted          or Unrestricted
                                       Note                      Notes
----------------------------------------------------------------------------------------------------------------------------------
<S>                       <C>                               <C>                         <C>                      <C>

----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------------------

==================================================================================================================================
</TABLE>

<PAGE>

No. A-2
                                                                    $200,000,000
                                                                 CUSIP 459506AA9

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.

                              6.45% Notes Due 2006

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, 55 WATER STREET, NEW YORK, NEW YORK 10004, TO THE
COMPANY OR ITS AGENT FOR REGISTRATION OR TRANSFER, EXCHANGE OR PAYMENT, AND ANY
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME
AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF CEDE & CO., AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF CEDE & CO., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE
OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL BECAUSE THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"), OR THE SECURITIES LAWS OF ANY STATE OR OTHER
JURISDICTION. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY
BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE
DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS
EXEMPT FROM, OR NOT SUBJECT TO, SUCH REGISTRATION. THE HOLDER OF THIS SECURITY
BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH
SECURITY, PRIOR TO THE DATE (THE "RESALE RESTRICTION TERMINATION DATE") WHICH IS
TWO YEARS AFTER THE LATER OF THE ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON
WHICH EITHER THE COMPANY OR ANY AFFILIATE OF THE COMPANY WAS THE OWNER OF THIS
SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY), ONLY (A) TO THE COMPANY, (B)
PURSUANT TO A REGISTRATION STATEMENT THAT HAS BEEN DECLARED EFFECTIVE UNDER THE
SECURITIES ACT, (C) FOR SO LONG AS THE NOTES ARE ELIGIBLE FOR RESALE PURSUANT TO
RULE 144A, TO A PERSON IT REASONABLY BELIEVES IS A "QUALIFIED INSTITUTIONAL
BUYER" AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT THAT PURCHASES FOR ITS
OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE
IS GIVEN THAT THE TRANSFER IS BEING

<PAGE>

MADE IN RELIANCE ON RULE 144A, (D) PURSUANT TO OFFERS AND SALES THAT OCCUR
OUTSIDE THE UNITED STATES WITHIN THE MEANING OF REGULATION S UNDER THE
SECURITIES ACT, OR (E) PURSUANT TO ANY OTHER AVAILABLE EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, SUBJECT TO THE RIGHT OF THE
COMPANY AND THE TRUSTEE PRIOR TO ANY SUCH OFFER, SALE OR TRANSFER PURSUANT TO
CLAUSES (D) OR (E) TO REQUIRE THE DELIVERY OF AN OPINION OF COUNSEL,
CERTIFICATION AND/OR OTHER INFORMATION SATISFACTORY TO EACH OF THEM. THIS LEGEND
WILL BE REMOVED UPON THE REQUEST OF THE HOLDER AFTER THE RESALE RESTRICTION
TERMINATION DATE.

THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL
OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES
EXCEPT THAT (I) THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED
PURSUANT TO SECTION 2.07 OF THE ORIGINAL INDENTURE, (II) THIS GLOBAL NOTE MAY BE
EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.11(c) OF THE ORIGINAL
INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR
CANCELLATION PURSUANT TO SECTION 2.08 OF THE ORIGINAL INDENTURE AND (IV) EXCEPT
AS OTHERWISE PROVIDED IN SECTION 2.11 OF THE ORIGINAL INDENTURE, THIS SECURITY
MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER NOMINEE OF THE
DEPOSITARY OR TO A SUCCESSOR DEPOSITARY OR TO A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY.

                  INTERNATIONAL FLAVORS & FRAGRANCES INC., a corporation duly
organized and validly existing under the laws of the State of New York (the
"Company"), which term includes any successor corporation under the Indenture
referred to on the reverse hereof, for value received hereby promises to pay to
Cede & Co., or registered assigns, the principal sum of 200,000,000 Dollars
(subject to adjustment as set forth in the next paragraph hereof) on May 15,
2006, at the office or agency of the Company maintained for that purpose in the
Borough of Manhattan, The City of New York, or, at the option of the holder of
this Restricted Global Note, at the Corporate Trust Office of the Trustee, in
such coin or currency of the United States of America as at the time of payment
shall be legal tender for the payment of public and private debts, and to pay
interest, semi-annually on May 15 and November 15 of each year, commencing
November 15, 2001, on said principal sum at said office or agency, in like coin
or currency, at the rate per annum specified in the title of this Restricted
Global Note, or unless no interest has been paid or duly provided for on the
Notes, in which case from May 7, 2001, until payment of said principal sum has
been made or duly provided for. The interest so payable on any May 15 or
November 15 will be paid to the person in

<PAGE>

whose name this Restricted Global Note is registered at the close of business on
the record date, which shall be the April 1 or October 1 (whether or not a
Business Day) next preceding such May 15 or November 15, respectively; provided
that any such interest not punctually paid or duly provided for shall be payable
as provided in the Indenture. Interest shall be paid by check mailed to the
registered holder at the registered address of such person unless other
arrangements are made in accordance with the provisions of the Indenture. So
long as this Restricted Global Note is a Global Security, then, notwithstanding
the immediate preceding sentence, each such payment will be made in accordance
with the procedures of the Depositary as then in effect.

                  The aggregate principal amount of this Restricted Global Note
represented hereby may from time to time be reduced or increased to reflect
exchanges of a part of this Restricted Global Note for interests in the
Regulation S Global Note or Unrestricted Notes or exchanges of interests in the
Regulation S Global Note or Unrestricted Notes for a part of this Restricted
Global Note or redemptions or repurchases of a part of this Restricted Global
Note or cancellations of a part of this Restricted Global Note or transfers of
interests in the Regulation S Global Note or Unrestricted Notes in return for a
part of this Restricted Global Note or transfers of a part of this Restricted
Global Note effected by delivery of interests in the Regulation S Global Note or
Unrestricted Notes, in each case, and in any such case, by means of notations on
the Schedule of Exchanges, Redemptions, Repurchases, Cancellations and Transfers
on the last page hereof. Notwithstanding any provision of this Restricted Global
Note to the contrary, (i) exchanges of a part of this Restricted Global Note for
interests in the Regulation S Global Note or Unrestricted Notes, (ii) exchanges
of interests in the Regulation S Global Note or Unrestricted Notes for a part of
this Restricted Global Note, (iii) redemptions or repurchases of a part of this
Restricted Global Note, (iv) cancellations of a part of this Restricted Global
Note, (v) transfers of interests in the Regulation S Global Note or Unrestricted
Notes in return for a part of this Restricted Global Note and (vi) transfers of
a part of this Restricted Global Note effected by delivery of interests in the
Regulation S Global Note or Unrestricted Notes may be effected without the
surrendering of this Restricted Global Note, provided that appropriate notations
on the Schedule of Exchanges, Redemptions, Repurchases, Cancellations and
Transfers are made by the Trustee, or the Custodian at the direction of the
Trustee, to reflect the appropriate reduction or increase, as the case may be,
in the aggregate principal amount of this Restricted Global Note resulting
therefrom or as a consequence thereof.

                  Reference is made to the further provisions of this Restricted
Global Note set forth on the reverse hereof. Such further provisions shall for
all purposes have the same effect as though fully set forth at this place.

                  This Restricted Global Note shall be deemed to be a contract
made under the laws of the State of New York, and for all purposes shall be
construed in accordance

<PAGE>

with and governed by the laws of said State, without regard to conflicts of laws
principles thereof.

This Restricted Global Note shall not be valid or become obligatory for any
purpose until the certificate of authentication hereon shall have been manually
signed by the Trustee or a duly authorized authenticating agent under the
Indenture.

<PAGE>

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.

                              6.45% Notes Due 2006

                  This Security is one of a duly authorized issue of Securities
of the Company, designated as its 6.45% Notes due 2006 (herein called the
"Notes," which expression includes any further notes issued pursuant to Section
2.7 of the Supplemental Indenture (as hereinafter defined) and forming a single
series therewith), issued and to be issued under an indenture, dated as of May
1, 2001 (herein called the "Original Indenture"), as supplemented by a
supplemental indenture, dated as of May 7, 2001 (the "Supplemental Indenture,"
and together with the Original Indenture, the "Indenture"), between the Company
and Bank One Trust Company, N.A., as trustee (the "Trustee"), to which Indenture
and all indentures supplemental thereto relevant to the Notes reference is
hereby made for a complete description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Trustee, the Company and
the holders of the Notes. Each Note is subject to, and qualified by, all such
terms as set forth in the Indenture certain of which are summarized hereon and
each holder of a Note is referred to the corresponding provisions of the
Indenture for a complete statement of such terms. To the extent that there is
any inconsistency between the summary provisions set forth in the Notes and the
Indenture, the provisions of the Indenture shall govern. Capitalized terms used
but not defined in this Note shall have the meanings ascribed to them in the
Indenture.

                  In case an Event of Default, as defined in the Indenture,
shall have occurred and be continuing, the principal of, premium, if any, and
accrued interest on all Notes may be declared, and upon said declaration shall
become, due and payable, in the manner, with the effect and subject to the
conditions provided in the Indenture.

                  The Indenture contains provisions permitting the Company and
the Trustee, with the consent of the holders of not less than a majority in
aggregate principal amount of the Notes at the time outstanding, evidenced as in
the Indenture provided, to execute supplemental indentures adding any provisions
to or changing in any manner or eliminating any of the provisions of the
Indenture or of any supplemental indenture or modifying in any manner the rights
of the holders of the Notes; provided that no such supplemental indenture shall
(i) extend the fixed maturity of any Note, or reduce the rate or extend the time
of payment of interest thereon, or reduce the principal amount thereof or
premium, if any, thereon, or reduce any amount payable on redemption thereof, or
impair or affect the right of any Noteholder to institute suit for the payment
thereof, or make the principal thereof or interest or premium, if any, thereon
payable in any coin or currency other than that provided in the Notes without
the consent of the holder of each Note so affected or (ii) reduce the aforesaid
percentage of Notes, the holders of which are

<PAGE>

required to consent to any such supplemental indenture, without the consent of
the holders of all Notes then outstanding. It is also provided in the Indenture
that, prior to any declaration accelerating the maturity of the Notes, the
holders of a majority in aggregate principal amount of the Notes at the time
outstanding may on behalf of the holders of all of the Notes waive any past
default or Event of Default under the Indenture and its consequences except a
default in the payment of interest or any premium on or the principal of any of
the Notes or a default in respect of a covenant or provision of the Indenture
that under Article IX thereof cannot be modified or amended without the consent
of the holders of all Notes then outstanding. Any such consent or waiver by the
holder of this Note (unless revoked as provided in the Indenture) shall be
conclusive and binding upon such holder and upon all future holders and owners
of this Note and any Notes that may be issued in exchange or substitution
hereof, irrespective of whether or not any notation thereof is made upon this
Note or such other Notes.

                  No reference herein to the Indenture and no provision of this
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and any premium and
interest on this Note at the place, at the respective times, at the rate and in
the coin or currency herein prescribed.

                  Interest on the Notes shall be computed on the basis of a
360-day year composed of twelve 30-day months.

                  The Notes are issuable in registered form without coupons in
denominations of $1,000 principal amount and integral multiples thereof. At the
office or agency of the Company referred to on the face hereof, and in the
manner and subject to the limitations provided in the Indenture, without payment
of any service charge but with payment of a sum sufficient to cover any tax or
other governmental charge that may be imposed in connection with any
registration or exchange of Notes, Notes may be exchanged for a like aggregate
principal amount of Notes of other authorized denominations.

                  The Notes may be redeemed at the Company's option, upon notice
as set forth in the Indenture, in whole at any time or in part from time to
time, at a redemption price equal to (A) the greater of (i) 100% of the
principal amount of the Notes to be redeemed on the Redemption Date and (ii) the
sum of the present values of the remaining scheduled payments of principal and
interest on the Notes being redeemed on that Redemption Date (not including any
portion of any payment of interest accrued to the Redemption Date) discounted to
the Redemption Date on a semiannual basis at the Treasury Rate, plus 25 basis
points, as determined by the Reference Treasury Dealers, plus (B) in each case,
accrued and unpaid interest on the Notes to the redemption date; provided that
if the date fixed for redemption is on a date or after the record date and on or
before the next following interest payment date, then the interest payable on
such date

<PAGE>

shall be paid to the holder of record on the next preceding May 15 or November
15, respectively.

                  Upon due presentment for registration of transfer of this Note
at the office or agency of the Company in the Borough of Manhattan, The City of
New York, or at the option of the holder of this Note, at the Corporate Trust
Office of the Trustee, a new Note or Notes of authorized denominations for an
equal aggregate principal amount will be issued to the transferee in exchange
thereof, subject to the conditions and limitations provided in the Indenture,
without charge except for any tax or other governmental charge imposed in
connection therewith.

                  The Company, the Trustee, any authenticating agent, any paying
agent and any Note registrar may deem and treat the registered holder hereof as
the absolute owner of this Note (whether or not this Note shall be overdue and
notwithstanding any notation of ownership or other writing hereon made by anyone
other than the Company or any Note registrar), for the purpose of receiving
payment hereof, or on account hereof and for all other purposes, and neither the
Company nor the Trustee nor any other authenticating agent nor any paying agent
nor any Note registrar shall be affected by any notice to the contrary. All
payments made to or upon the order of such registered holder shall, to the
extent of the sum or sums paid, satisfy and discharge liability for monies
payable on this Note.

                  No recourse for the payment of the principal of or any premium
or interest on this Note, or for any claim based hereon or otherwise in respect
hereof, and no recourse under or upon any obligation, covenant or agreement of
the Company in the Indenture or any indenture supplemental thereto or in any
Note, or because of the creation of any indebtedness represented thereby, shall
be had against any incorporator, stockholder, officer or director, as such,
past, present or future, of the Company or of any successor corporation, either
directly or through the Company or any successor corporation, whether by virtue
of any constitution, statute or rule of law or by the enforcement of any
assessment or penalty or otherwise, all such liability being, by the acceptance
hereof and as part of the consideration for the issue hereof, expressly waived
and released.

                  Subject to certain conditions set forth in the Indenture, the
Company at any time may terminate some or all of its obligations under the Notes
and the Indenture if the Company deposits with the Trustee money or Governmental
Obligations for the payment of principal of, premium, if any, and interest on
the Notes to redemption or maturity, as the case may be.

                  Pursuant to the Registration Rights Agreement by and among the
Company and the Initial Purchasers, the Company is obligated to consummate an
exchange offer pursuant to the which the Holder of this Note shall, subject to
the

<PAGE>

conditions set forth in the Registration Rights Agreement, have the right to
exchange this Note for an Exchange Note, which has been registered under the
Securities Act of 1933, as amended, in like principal amount and having
identical terms as the Notes (other than as set forth in this paragraph). The
Holders of Notes shall be entitled to receive certain additional interest
payments in the event such exchange offer is not consummated and upon certain
other conditions, all pursuant to and in accordance with the terms of the
Registration Rights Agreement.

<PAGE>

                                  ABBREVIATIONS

                  The following abbreviations, when used in the inscription of
the face of this Restricted Global Note, shall be construed as though they were
written out in full according to applicable laws or regulations:

<TABLE>
<CAPTION>
<S>               <C>                                           <C>
TEN COM -         as tenants in common                          UNIF GIFT MIN ACT -
TEN ENT -         as tenants by the entireties                  ________________ Custodian
JT TEN -          as joint tenants with right of                         (Cust)
                  survivorship and not as tenants in            ________________ under
                  common                                                 (Minor)
                                                                Uniform Gifts to
                                                                Minors Act ___________________
                                                                                 (State)
</TABLE>

                      Additional abbreviations may also be
                       used though not in the above list.

<PAGE>

                  For value received _______________hereby sell(s), assign(s)
and transfer(s) unto _________(please insert social security or other
identifying number of assignee) the within Note, and hereby irrevocably
constitutes and appoints ______________attorney to transfer the said Note on the
books of the Company, with full power of substitution in the premises.

                  In connection with any transfer of the within Note occurring
prior to the second anniversary of the date of original issuance of such Note,
the undersigned confirms that such Note is being transferred:

         |_|      To International Flavors & Fragrances Inc. or a subsidiary
                  thereof; or

         |_|      Pursuant to and in compliance with Rule 144A under the
                  Securities Act of 1933, as amended; or

         |_|      Pursuant to a Registration Statement that has been declared
                  effective under the Securities Act; or

         |_|      Pursuant to and in compliance with Regulation S under the
                  Securities Act of 1933, as amended; or

         |_|      Pursuant to and in compliance with Rule 144 under the
                  Securities Act of 1933, as amended.

                  Unless one of the boxes above is checked, the Trustee will
refuse to register any of the within Notes in the name of any person other than
the registered holder thereof (or hereof); provided, however, that the Trustee
may, in its sole discretion, register the transfer of such Notes if it has
received such certifications, legal opinions and/or other information as the
Company has reasonably requested to confirm that such transfer is being made
pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933, as amended.

                  In addition, if the transferee is a purchaser who is not a
U.S. person, the holder must furnish to the Trustee certifications, legal
opinions or other information as it may reasonably require to confirm that such
transfer is being made pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act of 1933, as
amended.

<PAGE>

Dated:___________________________________

_________________________________________

_________________________________________

Signature(s)

Signature(s) must be guaranteed by an eligible Guarantor Institution (banks,
stock brokers, savings and loan associations and credit unions) with membership
in an approved signature guarantee medallion program pursuant to Securities and
Exchange Commission Rule 17Ad-15.

_________________________________________
Signature Guarantee

<PAGE>

                 SCHEDULE OF EXCHANGES, REDEMPTIONS, REPURCHASES
                           CANCELLATIONS AND TRANSFERS

         The initial principal amount of this Restricted Global Note is U.S.
$200,000,000. The following additions to principal, redemptions, repurchases,
exchanges of a part of this Restricted Global Note for an interest in the
Regulation S Global Note or Unrestricted Notes have been made:

<TABLE>
===================================================================================================================================

                                                               Principal
                                                                 Amount
                                                               Redeemed,                  Remaining
          Date of            Principal Amount Added on        Repurchased,                Principal
        Addition to           Exchange of Interest in        Exchanged for                 Amount                    Notation
        Principal,            the Regulation S Global         Interest in                Outstanding                Made by or
        Redemption,            Note or Unrestricted               the                     Following                on behalf of
        Repurchase                     Notes                  Regulation S                  such                   the Trustee
        or Exchange                                           Global Note                Transaction
                                                            or Unrestricted
                                                                 Notes
<S>                                 <C>                           <C>                        <C>                        <C>
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</TABLE>

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