Document:

Exhibit 10.94
                     SUPPLEMENTAL INDENTURE TO BE DELIVERED
                          BY GUARANTEEING SUBSIDIARIES

         Supplemental Indenture (this "Supplemental Indenture"), dated as of May
5, 2003, among AMI Instruments, Inc., an Oklahoma corporation, Apcom, Inc., a
Maryland corporation, Broadcast Sports Inc., a Delaware corporation, Celerity
Systems Incorporated, a California corporation, EER Systems, Inc., a Virginia
corporation, Electrodynamics, Inc., an Arizona corporation, Goodrich Aerospace
Component Overhaul & Repair, Inc., a Delaware corporation, Goodrich Avionics
Systems, Inc., a Delaware corporation, Goodrich FlightSystems, Inc., an Ohio
corporation, Henschel Inc., a Delaware corporation, Hygienetics Environmental
Services, Inc., a Delaware corporation, Interstate Electronics Corporation, a
California corporation, KDI Precision Products, Inc., a Delaware corporation,
L-3 Communications AIS GP Corporation, a California corporation, L-3
Communications Analytics Corporation, a California corporation, L-3
Communications Atlantic Science and Technology Corporation, a New Jersey
corporation, L-3 Communications Aydin Corporation, a Delaware corporation, L-3
Communications ESSCO, Inc., a Delaware corporation, L-3 Communications ILEX
Systems, Inc., a Delaware corporation, L-3 Communications IMC Corporation, a
Connecticut corporation, L-3 Communications Integrated Systems L.P., a Delaware
limited partnership, L-3 Communications Investments, Inc., a Delaware
corporation, L-3 Communications Security and Detection Systems Corporation
Delaware, a Delaware corporation, L-3 Communications Security and Detection
Systems Corporation California, a California corporation, L-3 Communications SPD
Technologies, Inc., a Delaware corporation, L-3 Communications Storm Control
Systems, Inc., a California corporation, L-3 Communications TMA Corporation, a
Virginia corporation, L-3 Communications Westwood Corporation, a Nevada
corporation, MCTI Acquisition Corporation, a Maryland Corporation, Microdyne
Communications Technologies Incorporated, a Maryland corporation, Microdyne
Corporation, a Maryland corporation, Microdyne Outsourcing Incorporated, a
Maryland corporation, MPRI, Inc., a Delaware corporation, Pac Ord Inc., a
Delaware corporation, Power Paragon, Inc., a Delaware corporation, Ship
Analytics, Inc., a Connecticut corporation, Ship Analytics International, Inc.,
a Delaware corporation, Ship Analytics USA, Inc., a Connecticut corporation,
Southern California Microwave, Inc., a California corporation, SPD Electrical
Systems, Inc., a Delaware corporation, SPD Holdings, Inc., a Delaware
corporation, SPD Switchgear Inc., a Delaware corporation, SYColeman Corporation,
a Florida corporation, Telos Corporation, a California corporation, Troll
Technology Corporation, a California corporation, Wescam Air Ops Inc., a
Delaware corporation, Wescam Air Ops LLC, a Delaware limited liability company,
Wescam Holdings (US) Inc., a Delaware corporation, Wescam Incorporated, a
Florida corporation, Wescam LLC, a Delaware limited liability company, Wescam
Sonoma Inc., a California corporation and Wolf Coach, Inc., a Massachusetts
corporation (each, a "Guaranteeing Subsidiary", and collectively, the
"Guaranteeing Subsidiaries"), each a subsidiary of L-3 Communications
Corporation (or its permitted successor), a Delaware corporation (the
"Company"), the Company and The Bank of New York, as trustee under the indenture
referred to below (the "Trustee").

                               W I T N E S S E T H
                               - - - - - - - - - -

         WHEREAS, the Company has heretofore executed and delivered to the
Trustee an indenture (the "Indenture"), dated as of June 28, 2002 providing for
the issuance of an

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aggregate principal amount of up to $750,000,000 of 7 5/8% Senior Subordinated
Notes due 2012 (the "Notes");

         WHEREAS, the Indenture provides that under certain circumstances the
Guaranteeing Subsidiaries shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiaries shall
unconditionally guarantee all of the Company's obligations under the Notes and
the Indenture on the terms and conditions set forth herein (the "Subsidiary
Guarantee"); and

         WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is
authorized to execute and deliver this Supplemental Indenture.

         NOW THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt of which is hereby acknowledged, the
Guaranteeing Subsidiaries and the Trustee mutually covenant and agree for the
equal and ratable benefit of the Holders of the Notes as follows:

         1. CAPITALIZED TERMS. Capitalized terms used herein without definition
shall have the meanings assigned to them in the Indenture.

         2. AGREEMENT TO GUARANTEE. Each Guaranteeing Subsidiary hereby agrees
as follows:

              (a)  Such Guaranteeing Subsidiary, jointly and severally with all
                   other current and future guarantors of the Notes
                   (collectively, the "Guarantors" and each, a "Guarantor"),
                   unconditionally guarantees to each Holder of a Note
                   authenticated and delivered by the Trustee and to the Trustee
                   and its successors and assigns, regardless of the validity
                   and enforceability of the Indenture, the Notes or the
                   Obligations of the Company under the Indenture or the Notes,
                   that:

                                                                               3

                   (i)  the principal of, premium, interest and Additional
                        Amounts, if any, on the Notes will be promptly paid in
                        full when due, whether at maturity, by acceleration,
                        redemption or otherwise, and interest on the overdue
                        principal of, premium, interest and Additional Amounts,
                        if any, on the Notes, to the extent lawful, and all
                        other Obligations of the Company to the Holders or the
                        Trustee thereunder or under the Indenture will be
                        promptly paid in full, all in accordance with the terms
                        thereof; and

                   (ii) in case of any extension of time for payment or renewal
                        of any Notes or any of such other Obligations, that the
                        same will be promptly paid in full when due in
                        accordance with the terms of the extension or renewal,
                        whether at stated maturity, by acceleration or
                        otherwise.

              (b)  Notwithstanding the foregoing, in the event that this
                   Subsidiary Guarantee would constitute or result in a
                   violation of any applicable fraudulent conveyance or similar
                   law of any relevant jurisdiction, the liability of such
                   Guaranteeing Subsidiary under this Supplemental Indenture and
                   its Subsidiary Guarantee shall be reduced to the maximum
                   amount permissible under such fraudulent conveyance or
                   similar law.

         3. EXECUTION AND DELIVERY OF SUBSIDIARY GUARANTEES.

              (a)  To evidence its Subsidiary Guarantee set forth in this
                   Supplemental Indenture, such Guaranteeing Subsidiary hereby
                   agrees that a notation of such Subsidiary Guarantee
                   substantially in the form of Exhibit F to the Indenture shall
                   be endorsed by an officer of such Guaranteeing Subsidiary on
                   each Note authenticated and delivered by the Trustee after
                   the date hereof.

              (b)  Notwithstanding the foregoing, such Guaranteeing Subsidiary
                   hereby agrees that its Subsidiary Guarantee set forth herein
                   shall remain in full force and effect notwithstanding any
                   failure to endorse on each Note a notation of such Subsidiary
                   Guarantee.

              (c)  If an Officer whose signature is on this Supplemental
                   Indenture or on the Subsidiary Guarantee no longer holds that
                   office at the time the Trustee authenticates the Note on
                   which a Subsidiary Guarantee is endorsed, the Subsidiary
                   Guarantee shall be valid nevertheless.

              (d)  The delivery of any Note by the Trustee, after the
                   authentication thereof under the Indenture, shall constitute
                   due delivery of the

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                   Subsidiary Guarantee set forth in this Supplemental Indenture
                   on behalf of each Guaranteeing Subsidiary.

              (e)  Each Guaranteeing Subsidiary hereby agrees that its
                   obligations hereunder shall be unconditional, regardless of
                   the validity, regularity or enforceability of the Notes or
                   the Indenture, the absence of any action to enforce the same,
                   any waiver or consent by any Holder of the Notes with respect
                   to any provisions hereof or thereof, the recovery of any
                   judgment against the Company, any action to enforce the same
                   or any other circumstance which might otherwise constitute a
                   legal or equitable discharge or defense of a guarantor.

              (f)  Each Guaranteeing Subsidiary hereby waives diligence,
                   presentment, demand of payment, filing of claims with a court
                   in the event of insolvency or bankruptcy of the Company, any
                   right to require a proceeding first against the Company,
                   protest, notice and all demands whatsoever and covenants that
                   its Subsidiary Guarantee made pursuant to this Supplemental
                   Indenture will not be discharged except by complete
                   performance of the Obligations contained in the Notes and the
                   Indenture.

              (g)  If any Holder or the Trustee is required by any court or
                   otherwise to return to the Company or any Guaranteeing
                   Subsidiary, or any custodian, Trustee, liquidator or other
                   similar official acting in relation to either the Company or
                   such Guaranteeing Subsidiary, any amount paid by either to
                   the Trustee or such Holder, the Subsidiary Guarantee made
                   pursuant to this Supplemental Indenture, to the extent
                   theretofore discharged, shall be reinstated in full force and
                   effect.

              (h)  Each Guaranteeing Subsidiary agrees that it shall not be
                   entitled to any right of subrogation in relation to the
                   Holders in respect of any Obligations guaranteed hereby until
                   payment in full of all Obligations guaranteed hereby. Each
                   Guaranteeing Subsidiary further agrees that, as between such
                   Guaranteeing Subsidiary, on the one hand, and the Holders and
                   the Trustee, on the other hand:

                   (i)  the maturity of the Obligations guaranteed hereby may be
                        accelerated as provided in Article 6 of the Indenture
                        for the purposes of the Subsidiary Guarantee made
                        pursuant to this Supplemental Indenture, notwithstanding
                        any stay, injunction or other prohibition preventing
                        such acceleration in respect of the obligations
                        guaranteed hereby; and

                   (ii) in the event of any declaration of acceleration of such
                        obligations as provided in Article 6 of the Indenture,
                        such

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                        obligations (whether or not due and payable) shall
                        forthwith become due and payable by such Guaranteeing
                        Subsidiary for the purpose of the Subsidiary Guarantee
                        made pursuant to this Supplemental Indenture.

              (i)  Each Guaranteeing Subsidiary shall have the right to seek
                   contribution from any other non-paying Guaranteeing
                   Subsidiary so long as the exercise of such right does not
                   impair the rights of the Holders or the Trustee under the
                   Subsidiary Guarantee made pursuant to this Supplemental
                   Indenture.

         4.   GUARANTEEING SUBSIDIARY MAY CONSOLIDATE, ETC. ON CERTAIN TERMS.

              (a)  Except as set forth in Articles 4 and 5 of the Indenture,
                   nothing contained in the Indenture, this Supplemental
                   Indenture or in the Notes shall prevent any consolidation or
                   merger of any Guaranteeing Subsidiary with or into the
                   Company or any other Guarantor or shall prevent any transfer,
                   sale or conveyance of the property of any Guaranteeing
                   Subsidiary as an entirety or substantially as an entirety, to
                   the Company or any other Guarantor.

              (b)  Except as set forth in Article 4 of the Indenture, nothing
                   contained in the Indenture, this Supplemental Indenture or in
                   the Notes shall prevent any consolidation or merger of any
                   Guaranteeing Subsidiary with or into a corporation or
                   corporations other than the Company or any other Guarantor
                   (in each case, whether or not affiliated with the
                   Guaranteeing Subsidiary), or successive consolidations or
                   mergers in which a Guaranteeing Subsidiary or its successor
                   or successors shall be a party or parties, or shall prevent
                   any sale or conveyance of the property of any Guaranteeing
                   Subsidiary as an entirety or substantially as an entirety, to
                   a corporation other than the Company or any other Guarantor
                   (in each case, whether or not affiliated with the
                   Guaranteeing Subsidiary) authorized to acquire and operate
                   the same; provided, however, that each Guaranteeing
                   Subsidiary hereby covenants and agrees that (i) subject to
                   the Indenture, upon any such consolidation, merger, sale or
                   conveyance, the due and punctual performance and observance
                   of all of the covenants and conditions of the Indenture and
                   this Supplemental Indenture to be performed by such
                   Guaranteeing Subsidiaries, shall be expressly assumed (in the
                   event that such Guaranteeing Subsidiary is not the surviving
                   corporation in the merger), by supplemental indenture
                   satisfactory in form to the Trustee, executed and delivered
                   to the Trustee, by the corporation formed by such
                   consolidation, or into

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                   which such Guaranteeing Subsidiary shall have been merged, or
                   by the corporation which shall have acquired such property
                   and (ii) immediately after giving effect to such
                   consolidation, merger, sale or conveyance no Default or Event
                   of Default exists.

              (c)  In case of any such consolidation, merger, sale or conveyance
                   and upon the assumption by the successor corporation, by
                   supplemental indenture, executed and delivered to the Trustee
                   and satisfactory in form to the Trustee, of the Subsidiary
                   Guarantee made pursuant to this Supplemental Indenture and
                   the due and punctual performance of all of the covenants and
                   conditions of the Indenture and this Supplemental Indenture
                   to be performed by such Guaranteeing Subsidiary, such
                   successor corporation shall succeed to and be substituted for
                   such Guaranteeing Subsidiary with the same effect as if it
                   had been named herein as the Guaranteeing Subsidiary. Such
                   successor corporation thereupon may cause to be signed any or
                   all of the Subsidiary Guarantees to be endorsed upon the
                   Notes issuable under the Indenture which theretofore shall
                   not have been signed by the Company and delivered to the
                   Trustee. All the Subsidiary Guarantees so issued shall in all
                   respects have the same legal rank and benefit under the
                   Indenture and this Supplemental Indenture as the Subsidiary
                   Guarantees theretofore and thereafter issued in accordance
                   with the terms of the Indenture and this Supplemental
                   Indenture as though all of such Subsidiary Guarantees had
                   been issued at the date of the execution hereof.

         5. RELEASES.

              (a)  Concurrently with any sale of assets (including, if
                   applicable, all of the Capital Stock of a Guaranteeing
                   Subsidiary), all Liens, if any, in favor of the Trustee in
                   the assets sold thereby shall be released; provided that in
                   the event of an Asset Sale, the Net Proceeds from such sale
                   or other disposition are treated in accordance with the
                   provisions of Section 4.10 of the Indenture. If the assets
                   sold in such sale or other disposition include all or
                   substantially all of the assets of a Guaranteeing Subsidiary
                   or all of the Capital Stock of a Guaranteeing Subsidiary,
                   then the Guaranteeing Subsidiary (in the event of a sale or
                   other disposition of all of the Capital Stock of such
                   Guaranteeing Subsidiary) or the Person acquiring the property
                   (in the event of a sale or other disposition of all or
                   substantially all of the assets of such Guaranteeing
                   Subsidiary) shall be released from and relieved of its
                   Obligations under this Supplemental Indenture and its
                   Subsidiary Guarantee made pursuant hereto; provided that in
                   the event of an Asset Sale, the Net Proceeds from such sale
                   or other disposition are treated in accordance with the

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                   provisions of Section 4.10 of the Indenture. Upon delivery by
                   the Company to the Trustee of an Officers' Certificate to the
                   effect that such sale or other disposition was made by the
                   Company or the Guaranteeing Subsidiary, as the case may be,
                   in accordance with the provisions of the Indenture and this
                   Supplemental Indenture, including without limitation, Section
                   4.10 of the Indenture, the Trustee shall execute any
                   documents reasonably required in order to evidence the
                   release of the Guaranteeing Subsidiary from its Obligations
                   under this Supplemental Indenture and its Subsidiary
                   Guarantee made pursuant hereto. If the Guaranteeing
                   Subsidiary is not released from its obligations under its
                   Subsidiary Guarantee, it shall remain liable for the full
                   amount of principal of and interest on the Notes and for the
                   other obligations of such Guaranteeing Subsidiary under the
                   Indenture as provided in this Supplemental Indenture.

              (b)  Upon the designation of a Guaranteeing Subsidiary as an
                   Unrestricted Subsidiary in accordance with the terms of the
                   Indenture, such Guaranteeing Subsidiary shall be released and
                   relieved of its obligations under its Subsidiary Guarantee
                   and this Supplemental Indenture. Upon delivery by the Company
                   to the Trustee of an Officers' Certificate and an Opinion of
                   Counsel to the effect that such designation of such
                   Guaranteeing Subsidiary as an Unrestricted Subsidiary was
                   made by the Company in accordance with the provisions of the
                   Indenture, including without limitation Section 4.07 of the
                   Indenture, the Trustee shall execute any documents reasonably
                   required in order to evidence the release of such
                   Guaranteeing Subsidiary from its obligations under its
                   Subsidiary Guarantee. Any Guaranteeing Subsidiary not
                   released from its Obligations under its Subsidiary Guarantee
                   shall remain liable for the full amount of principal of and
                   interest on the Notes and for the other Obligations of any
                   Guaranteeing Subsidiary under the Indenture as provided
                   herein.

              (c)  Each Guaranteeing Subsidiary shall be released and relieved
                   of its obligations under this Supplemental Indenture in
                   accordance with, and subject to, Section 4.18 of the
                   Indenture.

         6. NO RECOURSE AGAINST OTHERS. No past, present or future director,
officer, employee, incorporator, stockholder or agent of any Guaranteeing
Subsidiary, as such, shall have any liability for any obligations of the Company
or any Guaranteeing Subsidiary under the Notes, any Subsidiary Guarantees, the
Indenture or this Supplemental Indenture or for any claim based on, in respect
of, or by reason of, such obligations or their creation. Each Holder of the
Notes by accepting a Note waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the Notes. Such waiver may
not

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be effective to waive liabilities under the federal securities laws and it is
the view of the SEC that such a waiver is against public policy.

         7. SUBORDINATION OF SUBSIDIARY GUARANTEES; ANTI-LAYERING. No
Guaranteeing Subsidiary shall incur, create, issue, assume, guarantee or
otherwise become liable for any Indebtedness that is subordinate or junior in
right of payment to any Senior Debt of a Guaranteeing Subsidiary and senior in
any respect in right of payment to any of the Subsidiary Guarantees.
Notwithstanding the foregoing sentence, the Subsidiary Guarantee of each
Guaranteeing Subsidiary shall be subordinated to the prior payment in full of
all Senior Debt of that Guaranteeing Subsidiary (in the same manner and to the
same extent that the Notes are subordinated to Senior Debt), which shall include
all guarantees of Senior Debt.

         8. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

         9. COUNTERPARTS. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement.

         10. EFFECT OF HEADINGS. The Section headings herein are for convenience
only and shall not affect the construction hereof.

         11. THE TRUSTEE. The Trustee shall not be responsible in any manner
whatsoever for or in respect of the validity or sufficiency of this Supplemental
Indenture or for or in respect of the recitals contained herein, all of which
recitals are made solely by the Guaranteeing Subsidiaries and the Company.

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         IN WITNESS WHEREOF, the parties hereto have caused this Supplemental
Indenture to be duly executed and attested, all as of the date first above
written.

Dated: May 5, 2003                  L-3 COMMUNICATIONS CORPORATION

                                    By:/s/ Christopher C. Cambria
                                    ------------------------------
                                    Name:
                                    Title:

Dated: May 5, 2003        AMI INSTRUMENTS, INC.
                          APCOM, INC.
                          BROADCAST SPORTS INC.
                          CELERITY SYSTEMS INCORPORATED
                          EER SYSTEMS, INC.
                          ELECTRODYNAMICS, INC.
                          GOODRICH AEROSPACE COMPONENT OVERHAUL & REPAIR, INC.
                          GOODRICH AVIONICS SYSTEMS, INC.
                          GOODRICH FLIGHTSYSTEMS, INC.
                          HENSCHEL INC.
                          HYGIENETICS ENVIRONMENTAL SERVICES, INC.
                          INTERSTATE ELECTRONICS CORPORATION
                          KDI PRECISION PRODUCTS, INC.
                          L-3 COMMUNICATIONS AIS GP CORPORATION
                          L-3 COMMUNICATIONS ANALYTICS CORPORATION
                          L-3 COMMUNICATIONS ATLANTIC SCIENCE AND TECHNOLOGY CORPORATION
                          L-3 COMMUNICATIONS AYDIN CORPORATION
                          L-3 COMMUNICATIONS ESSCO, INC.
                          L-3 COMMUNICATIONS ILEX SYSTEMS, INC.
                          L-3 COMMUNICATIONS IMC CORPORATION
                          L-3 COMMUNICATIONS INTEGRATED SYSTEMS L.P.
                          L-3 COMMUNICATIONS INVESTMENTS, INC.
                          L-3 COMMUNICATIONS SECURITY AND DETECTION SYSTEMS CORPORATION DELAWARE
                          L-3 COMMUNICATIONS SECURITY AND DETECTION SYSTEMS CORPORATION CALIFORNIA
                          L-3 COMMUNICATIONS SPD TECHNOLOGIES, INC.
                          L-3 COMMUNICATIONS STORM CONTROL SYSTEMS, INC.
                          L-3 COMMUNICATIONS TMA CORPORATION
                          L-3 COMMUNICATIONS WESTWOOD CORPORATION
                          MCTI ACQUISITION CORPORATION
                          MICRODYNE COMMUNICATIONS TECHNOLOGIES INCORPORATED
                          MICRODYNE CORPORATION
                          MICRODYNE OUTSOURCING INCORPORATED
                          MPRI, INC.
                          PAC ORD INC.
                          POWER PARAGON, INC.
                          SHIP ANALYTICS, INC.

                                                                              11

                          SHIP ANALYTICS INTERNATIONAL, INC.
                          SHIP ANALYTICS USA, INC.
                          SOUTHERN CALIFORNIA MICROWAVE, INC.
                          SPD ELECTRICAL SYSTEMS, INC.
                          SPD HOLDINGS, INC.
                          SPD SWITCHGEAR INC.
                          SYCOLEMAN CORPORATION
                          TELOS CORPORATION
                          TROLL TECHNOLOGY CORPORATION
                          WESCAM AIR OPS INC.
                          WESCAM AIR OPS LLC
                          WESCAM INCORPORATED
                          WESCAM LLC
                          WESCAM SONOMA INC.
                          WESCAM HOLDINGS (US) INC.
                          WOLF COACH, INC.
                              As Guaranteeing Subsidiaries

                          By:/s/ Christopher C. Cambria
                          -------------------------------
                             Name:
                             Title:

Dated: May 5, 2003        THE BANK OF NEW YORK,
                          as Trustee

                          By: /s/ Kisha A. Holder
                          -------------------------------
                              Name:
                              Title:<PAGE>

                              RETIREMENT AGREEMENT

                  This RETIREMENT AGREEMENT (this "Agreement") is entered into
as of the 31st day of March, 2003 between Julian W. Boyden (the "Employee"), and
International Flavors & Fragrances Inc., a New York corporation (the "Company"
and together with its subsidiaries and affiliates, the "Company Group").

                               W I T N E S S E T H

                  WHEREAS, the Employee is currently employed by the Company as
Executive Vice President; and

                  WHEREAS, the Company and the Employee have agreed that the
Employee's employment with the Company shall terminate without cause and the
Employee shall resign and retire from the employ of the Company on March 31,
2006 (the "Retirement Date"); and

                  WHEREAS, the Employee and the Company now desire to enter into
an agreement concerning the duties and responsibilities and the compensation and
benefits of the Employee from the date hereof until the Retirement Date as
hereinafter set forth,

                  NOW, THEREFORE, in consideration of the mutual promises
contained in this Agreement, the Employee and the Company agree as follows:

                  1. CONTINUATION OF EMPLOYMENT; DUTIES. Until the Retirement
Date, the Employee shall remain a full-time employee of the Company. Effective
March 31, 2003, the Employee shall resign as Executive Vice President of the
Company, and as a director and/or officer of all entities controlled directly or
indirectly by the Company Group of which he is then serving as a director and/or
officer and as a member of each Administrative Committee of a Company Group
benefit plan of which he is then serving as a member. Thereafter, until the
Retirement Date (the period between April 1, 2003 and the Retirement Date is
hereinafter referred to as the "Pre-Retirement Period"), the Employee shall
perform such duties as Richard A. Goldstein, Chairman of the Board and Chief
Executive Officer of the Company, or any successor to Mr. Goldstein may
reasonably assign to him. Such duties and responsibilities shall include, but
shall not necessarily be limited to, the Employee's continuing as the President
of the International Fragrance Association in

<PAGE>

accordance with his agreement with the Company. In connection with services
performed for the Company during the Pre-Retirement Period, the Company shall
permit the Employee to use the visitor's office in the Company's New York Office
Executive Suite (or another office in the New York Office if such office is at
any time not available) and shall make reasonable secretarial services available
to him.

                  2. TERMINATION OF EMPLOYMENT RELATIONSHIP; RETIREMENT. On the
Retirement Date the Employee's employment with the Company and all members of
the Company Group shall terminate and the Employee shall resign and retire from
the employ of the Company.

                  3. CONSIDERATION TO THE EMPLOYEE. The Company shall make the
following payments and provide the following additional benefits and
consideration to the Employee, subject to Section 6 hereof:

                  (A) COMPENSATION AND BENEFITS THROUGH THE RETIREMENT DATE.
Through March 31, 2003 the Employee shall continue to be paid the sum of
$44,833.33 per month, which sum shall be paid in semi-monthly installments of
$22,416.67. Commencing on April 1, 2003 and continuing through and including the
Retirement Date, the Employee shall be paid the sum of $36,722.22 per month (a
total of $1,322,000 for the 36-month period commencing April 1, 2003), which sum
shall be paid in semi-monthly installments of $18,361.11, and which represents
the Employee's severance entitlement under the Company's Executive Separation
Policy ((the "ESP"), but paid over 36 months. Through and including the
Retirement Date, except as otherwise provided in this Section 3 the Employee
shall continue to be entitled to all of the benefits--including but not limited
to participation in the Company's medical, dental and group insurance plans,
including the Executive Death Benefit Plan--that he currently enjoys as an
executive officer of the Company. For such benefits the Employee shall make the
same contributory payments required to be made at any time by other exempt
United States employees of the Company generally. Should the Company change or
eliminate any of such benefits for United States employees of the Company
generally, the Employee's benefits will likewise be affected. Should the Company
institute new benefits for United States employees of the Company between April
1, 2003 and the Retirement Date, the Employee shall not be entitled, and the
Employee waives all rights, to participate in any of such new benefits unless
such participation is required by law and except that, should the Company, prior
to the Retirement Date, offer executive employees long-term care for them and/or
their spouses, the Employee shall

                                       2
<PAGE>

be eligible to participate in such program to the same extent as such other
executive employees.

                  (B) ANNUAL INCENTIVE COMPENSATION. The Employee shall not be
entitled to any annual incentive compensation award in respect of any of 2003,
2004, 2005 and 2006, whether under the Company's Annual Incentive Plan (the
"AIP") promulgated under the Company's 2000 Stock Award and Incentive Plan (the
"SAIP") or otherwise.

                  (C) LONG-TERM INCENTIVE COMPENSATION. The Employee shall be
entitled to the same incentive compensation awards that are paid to others with
the same target awards as the Employee in respect of Cycle I (covering the years
2001-2003) and Cycle II (covering the years 2002-2004) under the Company's
Long-Term Incentive Plan (the "LTIP") promulgated under the SAIP. Any earned
Cycle I and Cycle II awards under the LTIP shall be paid to the Employee in
early 2004 and 2005, respectively, at the same time as awards under such Cycles
are paid to executive employees of the Company generally. The Employee shall not
be entitled to participate in any LTIP cycle commencing in any year after 2002.

                  (D) UNUSED VACATION. On or before April 30, 2003, the Company
shall pay the Employee for any accrued and unused days of vacation in respect of
2003 through March 31, 2003. The Employee agrees that he shall neither accrue
vacation days in respect of the remainder of 2003 or in respect of 2004, 2005 or
2006 nor be entitled to vacation pay in respect of any year other than that
portion of 2003 for which he is being paid pursuant to this Section 3(d).

                  (E) STOCK OPTIONS. The Employee has received a stock option
award for 50,000 shares in respect of 2003. The Employee shall not be entitled
to any stock option awards in respect of 2004, 2005 and 2006. The
exercisability, lapsing and forfeiture of the Employee's stock options shall be
governed by the provisions of various Stock Option Agreements between the
Employee and the Company. For purposes of all such Stock Option Agreements, the
Employee shall be deemed to have retired from the employ of the Company at or
after age 62 as of March 31, 2006.

                  (F) PENSION BENEFIT. The Employee shall be vested in the
benefits that he accrues through the Retirement Date pursuant to the Company's
Pension Plan and Supplemental Retirement Plan.

                  (G) OTHER BENEFITS. To the same extent as all executive
officers of the Company, the Employee shall be eligible to continue to
participate in each of the Company's Retirement

                                       3
<PAGE>

Investment Fund Plan and Deferred Compensation Plan and, except as provided in
Section 3(h), to continue to receive all perquisites that he is currently
receiving (including club membership, annual executive physical examination,
Company-provided automobile and financial, tax and estate planning from The Ayco
Company or such different provider as may be selected by the Company for
executive officers generally), in each case through the Retirement Date; shall
be entitled to participate in the Company's Global Employee Stock Purchase Plan
(the "GESPP") through December 31, 2005; shall be vested in the benefits he
accrues under any and all of such plans through the Retirement Date for the
purpose of which the Employee shall be deemed to have retired from the employ of
the Company at or after age 62 as of March 31, 2006; and shall be entitled to
payments from all such plans in accordance with the terms of such plans. The
Employee shall not be eligible to participate in the GESPP for any year after
2005 or in any other of such plans or to receive any of such perquisites from
the Company from and after the Retirement Date. After the date of this
Agreement, except with respect to benefits specifically provided for in this
Agreement the Employee shall no longer be a participant in the ESP.

                  (H) COMPANY CAR. The Employee shall continue to have the use
through the Retirement Date of the Company-provided Mercedes Benz S 500
automobile that he is currently using (the "Company Car") on the same terms and
conditions as executive officers of the Company. On the Retirement Date the
Company arrange to have title to the Company Car transferred to the Employee at
no cost to him. The Employee shall be solely responsible for any and all income
taxes attributable to any income that the Employee may be required to recognize
as a result of the transfer to him of the Company Car. From and after the date
on which title to the Company Car is transferred to the Employee, the Employee
shall be solely responsible for all costs associated with the ownership,
operation and/or maintenance of the Company Car. The Employee shall not be
entitled to a new Company Car between the date of this Agreement and the
Retirement Date irrespective of whether, under Company policy, he would have
otherwise been so entitled.

                  (I) CONTINUED MEDICAL COVERAGE. Until the Retirement Date the
Employee and his eligible dependents shall continue to be covered under the
Company's medical and dental plans and group life insurance plan under the same
terms and conditions, and at the same contribution levels, as are applicable to
active employees of the Company. On the Retirement Date the Employee may at his
option either continue coverage under the Company's medical plan for up to 18
months under the Consolidated Omnibus Budget Reconciliation Act of 1986
("COBRA") by paying the

                                       4

<PAGE>

applicable COBRA monthly premiums or commence coverage under the Company's
retiree medical plan as it may then exist (the "Retiree Plan"). The Employee's
retiree medical coverage shall always be subject to the terms and conditions,
including premium contributions, of the Retiree Plan applicable to retired
employees of the Company generally.

                  (J) FUNDING OF BENEFITS UNDER THIS AGREEMENT. The Company's
obligations under this Section 3 shall be added to those covered by the Rabbi
Trust evidenced by the Trust Agreement dated October 4, 2000 between IFF and The
First Union National Bank, as Trustee (or to any successor Rabbi Trust) and, to
the extent that any Company obligations are funded under the Rabbi Trust, the
Company's obligations under this Agreement shall also be funded.

                  4. NONCOMPETITION; NONSOLICITATION. During the Pre-Retirement
Period and for one year after the Retirement Date, the Employee agrees that he
shall not engage directly or indirectly anywhere in the world in any business
that is competitive to that of the Company Group, except that the Employee shall
not be prohibited from owning a beneficial ownership of less than five percent
(5%) of the outstanding capital stock of any publicly traded competitive
company. Additionally, during the Pre-Retirement Period, the Employee agrees
that he shall not solicit, induce, or attempt to influence any individual who is
an employee of the Company Group to terminate his or her employment relationship
with the Company Group, or to become employed by him or his affiliates or any
person by which he is employed, or interfere in any other way with the
employment, or other relationship, of the Company Group and any employee
thereof. Notwithstanding the foregoing, the response by any employee of the
Company to a published advertisement or other general solicitation, whether or
not concluding with the offer of a position to such employee, shall not
constitute a breach of this Section 4.

                  5. ENTIRE CONSIDERATION. The Employee understands and agrees
that the payments and benefits provided for in this Agreement (a) are the only
ones to which he is entitled relating to his employment and/or in connection
with his retirement from the Company; (b) are in excess of those to which he
otherwise would be entitled; and (c) are being provided to him in consideration
for his signing of this Agreement and the "Release," as defined in Section 6,
which consideration he agrees is adequate and satisfactory to him.

                  6. RELEASE. As a condition to the Employee's entitlement to
the compensation, payments and benefits provided

                                       5
<PAGE>

for in Sections 1 and 3 hereof, the Employee shall have executed and delivered
to the Company a release in the form attached hereto as Schedule I (the
"Release"), and such Release shall have become irrevocable. If the Employee
exercises his right to revoke the Release in accordance with the terms thereof,
then this Agreement shall become null and void ab initio. The Employee agrees to
execute another release, identical in form to the Release, as of the Retirement
Date, and shall not be entitled to receive the final $10,000 of Severance until
such release has been executed and delivered to the Company.

                  7. NON-DISPARAGEMENT. Each of the Employee and the Company (on
behalf of the Company Group) agrees that at no time will either the Employee or
any officer, director, employee or other representative of the Company in any
way denigrate, demean or otherwise say or do anything, whether in oral
discussions or in writing, that would cause any third party, including but not
limited to suppliers, customers and competitors of the Company, to lower its
perception about the integrity, public or private image, professional
competence, or quality of products or service, of the other or, in the case of
the Company, of any officer, director, employee or other representative of the
Company. If the Company is asked by a prospective employer for a reference with
respect to a new position for which the Employee is being considered, without
the Employee's prior written consent the Company will do no more than confirm
the Employee's dates of employment and salary history.

                  8. COOPERATION AND ASSISTANCE. The Employee acknowledges that
he may have historical information or knowledge that may be useful to the
Company in connection with current or future legal, regulatory or administrative
proceedings. The Employee will reasonably cooperate with the Company, both
during the Pre-Retirement Period and thereafter, in the defense or prosecution
of any such claims that relate to events or occurrences that transpired during
the Employee's employment with the Company. The Employee's cooperation in
connection with such claims or actions shall include being reasonably available,
subject to his other business and personal commitments, to meet with counsel to
prepare for discovery or trial and to testify truthfully as a witness when
reasonably requested by the Company at reasonable times and with reasonable
advance notice to the Employee. The Company shall reimburse the Employee for any
out-of-pocket expenses, including the reasonable fees of the Employee's personal
attorney, which he incurs in connection with such cooperation.

                  9. RETURN OF PROPERTY. Except as otherwise provided in this
Section 9, on the Retirement Date the Employee expressly

                                       6
<PAGE>

agrees that he shall return to the Company all property of the Company Group
including, but not limited to, any and all files, computers, computer equipment
and software and diskettes, documents, papers, records, accords, notes, agenda,
memoranda, plans, calendars and other books and records of any kind and nature
whatsoever containing information concerning the Company Group or their
customers or operations. The Employee affirms that he will not retain copies of
any such property or other materials. Notwithstanding the foregoing, the
Employee shall not be required to return his laptop computer, mobile cellular
telephone(s), rolodexes, personal diaries and correspondence; however, the
Company may require the Employee to provide such laptop computer to the Company
so that any proprietary Company information and/or programs may be purged from
such laptop computer. The Company shall provide the Employee with a written
receipt for all property returned to the Company.

                  10. NON-DISCLOSURE. Under Company policy and under applicable
trade secret law, the Employee is obliged to keep in confidence all trade
secrets and proprietary and confidential information of the Company Group,
whether patentable or not which he learned or of which he became aware or
informed during his employment by the Company (except to the extent disclosure
is or may be required by a statute, by a court of law, by any governmental
agency having supervisory authority over the business of the Company or by any
administrative or legislative body (including a committee thereof) with apparent
jurisdiction to order him to divulge, disclose or make accessible such
information, and not to directly or indirectly publish, disclose, market or use,
or authorize, advise, hire, counsel or otherwise procure any other person or
entity, directly or indirectly, to publish, disclose, market or use, any such
information. Both under such Company policy and under applicable law, such
obligations continue not only while the Employee is employed by the Company, but
after cessation of that employment. In amplification and not in limitation of
the foregoing, the Employee acknowledges that during his employment with the
Company, he has or may have acquired proprietary and confidential knowledge and
information of the Company Group, including, but not limited to, information
about the business, legal and financial strategies of the Company, the
positions, compensation and benefits and performance of employees of the Company
Group, fragrance and flavor formulae, secret processes and products, qualities
and grades of flavor and fragrance ingredients and raw materials, including but
not limited to aroma chemicals, perfumery and flavor and fragrance compounding
"know-how" and other technical data belonging to or relating to the Company
Group, and the identity of customers and suppliers of the Company Group and the
quantities of products ordered by

                                       7
<PAGE>

or from and the prices paid by or to those customers and suppliers. In addition,
the Employee has or may have also acquired similar confidential knowledge and
information belonging to customers of the Company Group and provided to the
Company Group in confidence under written and oral secrecy agreements. The
Employee agrees to abide by the terms and conditions of this Section 10 both
during the Pre-Retirement Period and thereafter.

                  11. TAX AND WITHHOLDING. Any Federal, State and/or local
income, personal property, franchise, excise or other taxes owed by the Employee
as a result of the payments or benefits provided under the terms of this
Agreement shall be the sole responsibility and obligation of the Employee. The
parties hereto agree and acknowledge that Company shall have the right to
withhold from any payments made or benefits provided to the Employee any and all
amounts that are necessary to enable the Company to satisfy any withholding or
other tax obligation that arises in connection with such payments or benefits,
and the Company shall report any such amounts that it determines are
compensation income on a Form W-2, including but not limited to the value of the
Company Car.

                  12. NO ORAL MODIFICATION. This Agreement may not be changed
orally and no modification, amendment or waiver of any provision contained in
this Agreement, or any future representation, promise or condition in connection
with the subject matter of this Agreement shall be binding upon any party hereto
unless made in writing and signed by such party.

                  13. RESOLUTION OF DISPUTES. Any disputes under or in
connection with this Agreement shall be adjudicated in the courts of the State
of New York. Notwithstanding the foregoing, if the parties consent in writing,
such dispute shall be resolved by arbitration, to be held in New York, New York
in accordance with the rules and procedures of the American Arbitration
Association then in effect. Judgment upon the award rendered by the
arbitrator(s) may be entered in any court having jurisdiction. In any litigation
or arbitration, each party shall bear its own costs, including but not limited
to attorneys' fees, unless the judge or arbitrator(s) otherwise determine.
Pending the resolution of any arbitration or litigation, the Company shall
continue payment of all amounts due the Employee under this Agreement and all
benefits to which the Employee is entitled at the time the dispute arises.

                  14. SEVERABILITY. In the event that any provision of this
Agreement or the application thereof should be held to be

                                       8
<PAGE>

void, voidable, unlawful or, for any reason, unenforceable, the remaining
portion and application shall remain in full force and effect, and to that end
the provisions of this Agreement are declared to be severable.

                  15. GOVERNING LAW. This Agreement is made and entered into,
and shall be subject to, governed by, and interpreted in accordance with the
laws of the State of New York and shall be fully enforceable in the courts of
that state, without regard to principles of conflict of laws.

                  16. SUCCESSORS AND ASSIGNS. This Agreement shall inure to the
benefit of and shall be binding upon the parties hereto and their respective
heirs, administrators, representatives, executors, successors and assigns,
including but not limited to (i) with respect to the Company, any entity with
which the Company may merge or consolidate or to which the Company may sell all
or substantially all of its assets, and (ii) with respect to the Employee, his
executors, administrators, heirs and legal representatives.

                  17. NOTICES. All notices required pursuant to this Agreement
shall be in writing and shall be deemed given if mailed, postage prepaid, or if
delivered by fax or by hand, to a party at the address set forth below:

                  If to the Employee:

                  Mr. Julian W. Boyden
                  815 Sussex Road
                  Franklin Lakes, New Jersey 07417

                  If to the Company:

                  International Flavors & Fragrances Inc.
                  521 West 57th Street
                  New York, New York 10019

                  Attention:   Corporate Secretary

Any change in address by either party shall be effective when notified to the
other party as aforesaid.

                  18. COUNTERPARTS. This Agreement may be executed in
counterparts, and each counterpart, when executed, shall have the effect of a
signed original.

                  19. ACKNOWLEDGMENT OF KNOWING AND VOLUNTARY RELEASE;

                                       9
<PAGE>

REVOCATION RIGHT. The Employee certifies that he has read the terms of this
Agreement. The execution hereof by the Employee shall indicate that this
Agreement conforms to the Employee's understandings and is acceptable to him as
a final agreement. It is further understood and agreed that the Employee has had
the opportunity to consult with counsel of his choice, that he has in fact
consulted with his own counsel with respect to this Agreement, and that he has
been given a reasonable and sufficient period of time of no less than 45 days in
which to consider and return this Agreement.

         WHEREFORE, intending to be legally bound, the parties have agreed to
the aforesaid terms and indicate their agreement by signing below.

         JULIAN W. BOYDEN

         /S/JULIAN W. BOYDEN                    AS OF MARCH 31, 2003
         --------------------                   --------------------
            Julian W. Boyden                               Date

         INTERNATIONAL FLAVORS & FRAGRANCES INC.

         By:      /S/ RICHARD A. GOLDSTEIN       AS OF MARCH 31, 2003
                  -------------------------      --------------------
                  Richard A. Goldstein                     Date
                  Chairman of the Board and
                  Chief Executive Officer

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