Document:

Exhibit 10 (11)

                     INTERNATIONAL FLAVORS & FRAGRANCES INC.
                     BOARD OF DIRECTORS MEETING HELD 2/8/00

     Section 7 of the 1997 Employee Stock Option Plan (the "Plan") is deleted
and the following is substituted therefor:

     "7. Employment at the Time of Each Purchase:

     (a) Except as provided below in subsections (b) and (c) of this section,
any stock option may be exercised by any Participant only so long as he or she
remains in the employ of IFF; provided that if a Participant voluntarily
resigns, becomes totally disabled or retires, he or she may exercise within 3
months thereafter (but not later than the expiration date of the option) the
option as to the balance, if any, of the shares which the Participant was
entitled to purchase pursuant to section 9 hereof at the date of such
resignation, disability or retirement. Authorized leaves of absence for military
or governmental service or other purposes approved by the Committee will be
deemed a continuation of employment for purposes of the Plan, and modifications
or extensions of the periods of the option agreement or otherwise may be made by
the Committee. If a Participant dies while employed by IFF, his or her legal
representatives, distributees or legatees as the case may be, may exercise
within three (3) months thereafter (but not later than the expiration date of
the option) the option as to the balance, if any, of the shares which the
Participant was entitled to purchase pursuant to Section 9 hereof at the date of
his or her death or, in case such death occurs less than 48 months from the date
of the grant of the option, that proportion of the shares covered by the option
which the number of days in the period from the date of grant to the date of the
Participant's death bears to the number 1460, less any shares previously
purchased under the option.

     (b) Any stock option granted on or after February 8, 2000 may be exercised
by a Participant who retires at age 65 or older, until the option's expiration
date, as to the balance, if any, of the shares which the Participant was
entitled to purchase pursuant to Section 9 hereof at the date of such
retirement.

                                      -1-
<PAGE>

     (c) On and after February 8, 2000, the Committee, in its discretion, (i)
may grant one or more stock options, which by their terms may be exercised by
the Participant with respect to any or all of the shares subject thereto, and/or
for periods of time after the termination of the Participant's employment for
any reason (but not later than the expiration date of the option), and (ii) may
reserve to itself the right to extend or vary the terms of one or more stock
options granted on or after February 8, 2000 to allow the exercise of the option
by the Participant with respect to any or all of the shares subject thereto
and/or for periods of time after the termination of the Participant's employment
for any reason (but not later than the expiration date of the option).

     (d) In the event of the death of any holder of any option granted or
amended by the Committee pursuant to subsections (b) or (c) of this section
while such option remains exercisable, the option may be exercised by his or her
"Beneficiary," as hereinafter defined, legal representatives, distributees or
legatees, as the case may be, within 12 months thereafter (but not later than
the expiration date of the option) as to the entire number of shares which the
Participant was entitled to purchase thereunder at the date of his or her death.

     (e) For purposes of this section, the term "Beneficiary" shall mean, with
respect to any option, the family member or members, or the trust or trusts for
the benefit of one or more family members, which have been designated by an
optionee in his or her most recent written beneficiary designation filed with
the Committee as entitled to exercise such option after such optionee's death,
or if there is no surviving designated Beneficiary, then the legal
representatives, distributees or legatees of such Beneficiary."

     The first sentence of Section 9 of the Plan shall be amended to read as
follows:

     "9. Exercise of Options. Except as the Committee may otherwise determine
pursuant to subsection (c) of Section 7 hereof, the stock options may be
exercised as follows: up to one-third of the shares covered at any time after 24
months from the date of grant; up to two-thirds of such shares at any time after
36 months from such date; and all the shares at any time after 48 months from
such date."

                                      -2-
<PAGE>

     The first sentence of Section 12 of the Plan shall be amended to read as
follows:

     "12. Nonassignability. No option shall be sold, transferred, pledged,
assigned, or otherwise alienated or hypothecated, other than by will or by the
laws of descent and distribution or to a Beneficiary."

                                      -3-[IFF LETTERHEAD]

                                                                  Exhibit 10 (o)

                                                           As of October 1, 1999

Mr. Carlos A. Lobbosco
Thorney Court Apartments
Palace Gate
Kensington
London W8 5NJ
England

Dear Carlos,

     This letter will outline the understandings you and International Flavors &
Fragrances Inc. ("IFF" or the "Company") have reached in respect of your
assignment, effective October 1, 1999, as President, Fragrance Division (the
"Assignment"). This letter supersedes the letter agreement between you and IFF
dated June 23, 1998.

     We have agreed as follows:

     1.   Effective October 1, 1999, your annual base salary will be US$500,000.
          Your salary will be reviewed annually, commencing at the end of 2000,
          in accordance with IFF policy for officers of the Company.

     2.   IFF will cause to be leased for your use during the Assignment, in the
          name of IFF, an apartment in New York City, New York, for your
          business and personal use (the "Apartment"). IFF will cause the rent
          and utilities (other than telephone) to be paid on the Apartment. The
          initial monthly rent for the Apartment may not exceed US$10,000
          without the prior written approval of the Chairman and Chief Executive
          Officer of the Company. Any taxable income that you are required to
          recognize as a result of the Company's leasing the Apartment for your
          use will be considered "Other Assignment Income", as defined in

<PAGE>

                                                          Mr. Carlos A. Lobbosco
                                                           As of October 1, 1999
                                                               Page 2 of 7 Pages

          Section 5 below. You will be responsible for all costs related to any
          housing that you continue to maintain in Argentina during the
          Assignment.

     3.   During the Assignment you will continue to participate in the IFF
          Management Incentive Compensation Plan ("MICP") on the same terms as
          you currently participate in the MICP. Your MICP award will continue
          to be based on a combination of the performance of IFF as well as your
          own performance.

     4.   I will recommend to the Stock Option and Compensation Committee of the
          Board of Directors that, at its meeting on November 9, 1999, you be
          granted a stock option award of 25,000 shares of IFF Common Stock
          under, and subject to the terms and conditions of, the IFF 1997
          Employee Stock Option Plan.

     5.   To the extent that the effective aggregate income tax rate on your
          annual base salary and MICP during the relating to the Assignment
          ("Assignment Salary and Bonus") exceeds 30%, IFF will reimburse you,
          on a fully "grossed up" basis, for all income taxes in excess of 30%
          in respect of such taxable Assignment Salary and Bonus. IFF will also
          fully "gross up" any other taxable income relating to the Assignment
          that you are required to recognize ("Other Assignment Income").
          Assignment Salary and Bonus and Other Assignment Income are sometimes
          collectively referred to as "Assignment Compensation." The effective
          aggregate income tax rate on your Assignment Salary and Bonus, and
          the income tax due on Other Assignment Income, will be determined by
          considering income taxes owed on the Assignment Salary and Bonus and
          Other Assignment Income in any country in which such taxes are
          required to be paid, and will be calculated by PricewaterhouseCoopers
          LLP or such other independent public accountants whom IFF may elect to
          retain to prepare your income tax returns related to the Assignment
          Compensation (the "Accountant"). IFF will pay that percentage of the
          cost of having your taxes prepared by the Accountant that Assignment
          Compensation bears to total taxable income reported in returns
          prepared for you by the Accountant (the "Assignment Compensation
          Percentage"). The

<PAGE>

                                                          Mr. Carlos A. Lobbosco
                                                           As of October 1, 1999
                                                               Page 3 of 7 Pages

          determination by the Accountant of (a) the effective aggregate
          income tax rate in respect of Assignment Salary and Bonus, (b) income
          taxes owed on Other Assignment Income, and (c) the Assignment
          Compensation Percentage will be binding on both you and IFF. You will
          be fully and solely responsible for all income and other taxes due in
          any country in respect of any income (whether or not compensation from
          IFF) other than Assignment Compensation. Any taxable income that you
          are required to recognize as a result of the Company's payment of the
          Assignment Compensation Percentage will be considered Other Assignment
          Income.

     6.   During the Assignment you will continue to participate in the IFF TCN
          Pension Plan, (the "TCN Plan"). IFF agrees to assure that, upon your
          retirement from the Company, you will receive an aggregate minimum
          monthly pension, expressed as a 60-month annuity certain (the
          "Pension"), of at least the amount in respect of the various
          retirement dates set forth in the schedule below (the "Pension
          Schedule"). The Pension will be paid in US Dollars. If your actual
          retirement date (the "Retirement Date") falls between any two dates in
          the Pension Schedule, the Pension will be adjusted accordingly.

          The amount of the Pension will first be calculated by aggregating the
          retirement benefits that you have or will have earned at your actual
          retirement date from all sources in which you currently participate or
          have participated during your IFF service, including but not limited
          to the TCN Plan, pension plans of other IFF entities, and the
          Argentina social security/retirement system (collectively the
          "Applicable Sources"). The amount of the Pension will be calculated in
          accordance with the terms of the TCN Plan. If for any reason the
          Pension as calculated under the TCN Plan does not provide the minimum
          Pension required by the Pension Schedule, IFF will pay you a monthly
          supplemental amount so that your aggregate retirement benefit from all
          Applicable Sources equals the Pension required by the Pension Schedule
          for the applicable retirement date. You will have the right to elect
          to receive the Pension

<PAGE>

                                                          Mr. Carlos A. Lobbosco
                                                           As of October 1, 1999
                                                               Page 4 of 7 Pages

          in such a way that, rather than receiving a 60-month annuity certain
          (which provides no benefit for your surviving spouse beyond the fifth
          anniversary after the Retirement Date), your surviving spouse, upon
          your death, will continue to receive a benefit equal to 50% of the
          benefit you were receiving at your death. You acknowledge, however,
          that should you elect such a "joint and 50%" option, the amount to be
          paid to you at your retirement will be reduced actuarially from that
          set forth in the Pension Schedule.

                                Pension Schedule
                                ----------------
           Retirement Data                            Minimum Guaranteed
          ------------------                           Monthly Pension
                                                      ------------------
                                                             (US$)

          July 1, 2000                                      13,400
          ----------------------------------------------------------------------
          July 1, 2001                                      17,100
          ----------------------------------------------------------------------
          July 1, 2002                                      21,100
          ----------------------------------------------------------------------
          On or After July 1,                               25,000
          2003
          ----------------------------------------------------------------------

     7.   It is currently anticipated that the Assignment will expire as of July
          1, 2001. IFF or you may elect to cause the Assignment to terminate
          earlier, and the Assignment may be extended upon mutual agreement
          between you and IFF. In the event IFF terminates the Assignment, or in
          the event, as a result of the serious physical or mental illness of
          either your wife or one of your children (a "Medical Emergency"), you
          elect to terminate the Assignment, in either case before July 1, 2001,
          from such expiration or earlier termination of the Assignment until
          the Retirement Date, which, subject to the last sentence of this
          Section 7 and to Section 12 below, will be July 1, 2003, you will
          remain an employee of IFF, based in Buenos Aires, Argentina, and will
          perform such services for IFF as the Chief Executive Officer of

<PAGE>

                                                          Mr. Carlos A. Lobbosco
                                                           As of October 1, 1999
                                                               Page 5 of 7 Pages

          the Company may request. During this period your base salary will not
          be lower than that in effect at the end of the Assignment, and you
          will continue to participate in the TCN Plan and have the same other
          benefits from IFF as you had in Argentina prior to the Assignment.
          Should you elect to terminate the Assignment before July 1, 2001 for
          any reason other than a Medical Emergency, the date on which you
          terminate the Assignment will be deemed the Retirement Date.

     8.   During the Assignment, you will be eligible, as part of your paid
          vacation, for annual home leave to Argentina. IFF will pay for up to
          eight round trip business class airfares between Argentina and New
          York, which may be used by you and members of your family. Any taxable
          income that you are required to recognize as a result of the Company's
          payment of any of such airfares will not be considered Assignment
          Compensation, and will be your sole responsibility.

     9.   Until the Retirement Date, (a) you will be covered for life,
          disability and travel insurance under those programs--including but
          not limited to life insurance under IFF's basic and supplemental
          programs of US$1,000,000--maintained by IFF for its employees in the
          United States; (b) you and your family will continue to be covered by
          the IFF Argentina medical scheme; and (c) you will also continue to be
          included in the IFF global medical and dental program, currently
          administered by CIGNA.

     10.  IFF Argentina will continue to pay your annual membership fees, up to
          a maximum of the equivalent in Argentine Pesos of US$9,000 per year
          (the "Club Fees"), in the Argentine Club in Buenos Aires. Should you
          elect to join a social/sport club in New York, all fees and expenses
          of joining and/or maintaining your membership in such club will be
          your sole responsibility.

     11.  IFF will pay on your behalf the out-of-pocket expenses associated with
          the shipment of your personal goods from London to New York at the
          commencement, and from New York to Argentina at the

<PAGE>

                                                          Mr. Carlos A. Lobbosco
                                                           As of October 1, 1999
                                                               Page 6 of 7 Pages

          termination, of the Assignment, in each case in accordance with the
          IFF Corporate Relocation Policy then in effect. The Company will also
          pay or reimburse you for all fees and expenses needed to obtain any
          visa, other travel documents and/or work permits that may be required.
          You acknowledge that the effectiveness and continuing enforceability
          of this Agreement is conditioned upon your obtaining all
          authorizations necessary to enable you to undertake and to continue
          the Assignment. IFF will assist you in obtaining and keeping all such
          authorizations. Finally, in accordance with the IFF Corporate
          Relocation Policy IFF will pay or reimburse you for your temporary
          living expenses in New York until you move into your permanent
          residence, which you intend to occur by March 31, 2000. Any taxable
          income that you are required to recognize as a result of IFF's payment
          or reimbursement of any cost or expense contemplated by this Section
          11 will be considered Other Assignment Income.

     12.  In the event your employment with IFF is terminated by IFF for any
          reason other than for "cause" prior to July 1, 2003, and in connection
          with such termination you are not entitled to the benefits under the
          Executive Severance Agreement between you and the Company dated
          December 14, 1993, you will retire from IFF employment as of the
          termination date, which will be deemed the Retirement Date. In such
          event, you may elect (a) to commence receiving the Pension immediately
          after the Retirement Date, or (b) in lieu of commencing to receive the
          Pension at the Retirement Date, to receive "Salary Continuation
          Payments" equal to your monthly base salary at the Retirement Date,
          for the shorter of (i) twenty-four (24) months or (ii) if the
          Retirement Date occurs on or after July 1, 2001, the number of months
          between the Retirement Date and July 1, 2003, after which the Pension
          will commence (with the amount of the Pension--including the
          guaranteed minimum--computed based on your years of service through
          the Retirement Date but with a commencement date based on your age on
          the actual date on which the Pension commences). After the Retirement
          Date, you will be entitled to all other benefits then granted by IFF
          to retired

<PAGE>

                                                          Mr. Carlos A. Lobbosco
                                                           As of October 1, 1999
                                                               Page 7 of 7 Pages

          employees of IFF Argentina. "Cause" will have the same meaning in this
          Agreement as in the Executive Severance Agreement.

     13.  Should you die during the Assignment, IFF will assist your family in
          arranging for, and will pay all reasonable costs of, the repatriation
          of your remains and personal effects to Argentina.

     Carlos, if the terms set forth above accurately reflect our understanding,
please sign the extra copy of this letter and return it to Steve Block. If you
have any questions, please feel free to contact Steve Block, Bill Kane or me.

                                              Sincerely,

                                              INTERNATIONAL FLAVORS &
                                                 FRAGRANCES INC.

                                              By: /s/ EUGENE P. GRISANTI
                                                    ----------------------------
                                                    Eugene P. Grisanti
                                                    Chairman, President &
                                                    Chief Executive Officer

AGREED AND ACCEPTED:

/s/ CARLOS A. LOBBOSCO
----------------------------
Carlos A. Lobbosco

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