Document:

1996 SENIOR EXECUTIVE BONUS PLAN
                            AS AMENDED JULY 25, 2000

     The Compensation  Committee (the "Committee") of the Board of Directors has
approved the  Amendment of the 1996 Senior  Executive  Bonus Plan (the  "Plan").
Adoption  of the Plan is subject to the  approval of a majority of the shares of
the Company's  Common Stock which are present in person or by proxy and entitled
to vote at the  Annual  Meeting.  The Plan  provides  the  Company's  senior key
executives  with  the  opportunity  to  earn  incentive   awards  based  on  the
achievement of goals relating to the performance of the Company.

Background and Reasons for Adoption

     The  Company  has a  performance-based  bonus  plan  similar  to the  Plan,
pursuant  to  which  the  Company  rewards   management  for  achieving  certain
performance  objectives.  However,  under section 162(m) of the Internal Revenue
Code, the federal income tax deductibility of compensation paid to the Company's
Chief  Executive  Officer and to each of its four other most highly  compensated
executive  officers may be limited to the extent that such compensation  exceeds
$1  million  in any one year.  Under  section  162(m),  the  Company  may deduct
compensation  in excess of that  amount if it  qualifies  as  "performance-based
compensation,"  as defined in section  162(m).  The Plan is  designed to qualify
payments thereunder as performance-based  compensation,  so that the Company may
continue to receive a federal  income tax deduction for the payment of incentive
bonuses to its  executives.  The  Company  will  continue to operate its current
bonus plan, as well,  for the  compensation  of senior  executives and other key
employees for whom section 162(m) is not an issue.

Description of the Plan

     The following paragraphs provide a summary of the principal features of the
Plan and its operation.

Purpose of the Plan

     The Plan is intended to increase  stockholder  value and the success of the
Company by aligning senior executive  compensation  with the Company's  business
objectives and performance.

Administration of the Plan

     The Plan will be  administered  by the Committee in accordance with (1) the
express provisions of the Plan and (2) the requirements of section 162(m).

<PAGE>

Eligibility to Receive Awards

     Participation  in the Plan is determined  annually in the discretion of the
Committee.  In selecting  participants  for the Plan,  the Committee will choose
officers of the Company who are likely to have a  significant  impact on Company
performance and be highly compensated.  For fiscal 2000, the participants in the
Plan were Messrs. Swanson, Davies, Dobkin, Coghlan and Zapf. In fiscal 2001, the
Plan will include the Chief  Executive  Officer and each of the  Company's  four
other most highly compensated executive officers.

Target Awards and Performance Goals

     For each fiscal year, the Committee will establish:  (1) a target award for
each participant,  (2) the performance goals which must be achieved in order for
the participant to be paid the target award, and (3) a formula for increasing or
decreasing a participant's  actual award  depending upon how actual  performance
compares to the pre-established performance goals.

     Each participant's target award will be expressed as a percentage of his or
her base salary. Base salary under the Plan means the lesser of: (1) 125% of the
participant's annual salary rate on the first day of the fiscal year, or (2) the
participant's annual salary rate on the last day of the fiscal year.

     There are  several  performance  measures  which the  Committee  may use in
setting the performance goals for any fiscal year. Specifically, the performance
goals  applicable  to any  participant  will  provide  for a  targeted  level of
achievement using one or more of the following measures: (1) annual revenue, and
(2) operating income expressed as a percent of sales.

     For fiscal 2001, the Committee has established for the Plan  participants a
combined  performance goal with respect to: (1) operating profit return on sales
(i.e. fiscal 2001 operating profit as a percentage of revenue),  and (2) revenue
growth from fiscal 2000 to fiscal 2001.  The  Committee  has also  established a
formula,  with such  measurements  as  variables,  which will  determine  actual
awards.

Determination of Actual Awards

     After the end of each fiscal year,  the  Committee  must certify in writing
the extent to which the performance  goals  applicable to each  participant were
achieved or  exceeded.  The actual award (if any) for each  participant  will be
determined by applying the formula to the level of actual  performance which has
been certified by the Committee.  However,  the Committee retains  discretion to
eliminate or reduce the actual award payable to any participant below that which
otherwise would be payable under the applicable formula.  Also, no participant's
actual award under the Plan may exceed $5 million for any fiscal year.

<PAGE>

     The Plan  contains a continuous  employment  requirement.  If a participant
terminates employment with the Company prior the end of a fiscal year, he or she
generally  will not be entitled to the payment of an award for the fiscal  year.
However,  if the participant's  termination is due to retirement,  disability or
death,  the Committee  will  proportionately  reduce (or  eliminate)  his or her
actual award based on the date of termination and such other  considerations  as
the Committee deems appropriate.

     Awards  under the Plan  generally  will be payable in cash after the end of
the fiscal year during which the award was earned.NUMBER                                 IFF[LOGO]                        SHARES
CU

COMMON STOCK                                                        COMMON STOCK

                    INTERNATIONAL FLAVORS & FRAGRANCES INC.

        -----INCORPORATED UNDER THE LAWS OF THE STATE OF NEW YORK.-----

                                                               CUSIP 459506 10 1

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This Certifies that

is the owner of
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          FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK OF

                             [CERTIFICATE OF STOCK]

International Flavors & Fragrances Inc., transferable on the books of the
Corporation by the holder hereof in person or by duly authorized attorney on
surrender of this certificate property endorsed. This certificate is not valid
until countersigned by the Transfer Agent and registered by the Registrar.

     Witness the facsimile seal of the Corporation and the facsimile signatures
of its duly authorized officers.

                                                   Dated

/s/  STEPHEN C. BLOCK                              /s/  RICHARD A. GOLDSTEIN
------------------------                           --------------------------
     Stephen C. Block                                Richard A. Goldstein
     Secretary                                       Chairman

NOTE:
FOR EXPLANATION OF CERTAIN ABBREVIATIONS, SEE REVERSE SIDE OF THIS CERTIFICATE

COUNTERSIGNED AND REGISTERED:
           THE BANK OF NEW YORK
                (NEW YORK)           TRANSFER AGENT
BY                                    AND REGISTRAR

                               AUTHORIZED SIGNATURE

<PAGE>

                    INTERNATIONAL FLAVORS & FRAGRANCES INC.

     The Restated Certificate of Incorporation as amended includes the following
provisions:
"NINTH:***

     "(4) Any director may be removed with cause by the affirmative vote of at
least two-thirds (2/3) of the whole Board of Directors of the Corporation or may
be removed with or without cause by the stockholders as provided in the By-laws
of the Corporation. Any vacancy in the Board of Directors of the Corporation
arising from any cause shall be filled for the unexpired portion of the term by
the affirmative vote of at least two-thirds (2/3) of the whole Board of
Directors or by the stockholders as provided in the By-laws of the Corporation."

                                     * * *

"TENTH:

     Each holder of any equity or voting shares, as such terms are defined in
Section 39 of the New York Stock Corporation Law, of any class of Corporation
shall have the preemptive right to purchase equity or voting shares of the
Corporation or any shares, notes, debentures, bonds or other securities
convertible into or carrying options or warrants to purchase its equity or
voting shares, in any and all cases, notwithstanding the provisions of Section
39(4) of the New York Stock Corporation Law, except as may otherwise be
determined by the affirmative vote of at least two-thirds (2/3) of the whole
Board of Directors, and except that such preemptive right shall not apply upon
the issuance of equity or voting shares by the Corporation upon the exercise of
stock options or upon the surrender of scrip certificates outstanding as of the
date of this Restated Certificate of Incorporation."

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

TEN COM--as tenants in common            UNIF GIFT MIN ACT--.....Custodian......
TEN ENT--as tenants by the entireties                       (Case)       (Minor)
JT TEN --as joint tenants with right of                     under Uniform Gifts
         survivorship and not as tenants                    to Minors Act.......
         in common                                                (State)

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

       For value received, __________ hereby sell assign and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
   INDENTIFYING NUMBER OF ASSIGNEE
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            (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE)

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------------------------------------------------------------------------- shares
of the capital stock represented by the within Certificate, and do hereby
irrevocably constitute and appoint ____________________________________ Attorney
to transfer the said stock on the books of the within named Corporation with
full power of substitution in the premises.

Dated _________________________

                                        ----------------------------------------
                                        NOTICE:   THE SIGNATURE TO THIS
                                                  ASSIGNMENT MUST CORRESPOND
                                                  WITH THE NAME AS WRITTEN UPON
                                                  THE FACE OF THE CERTIFICATE IN
                                                  EVERY PARTICULAR, WITHOUT
                                                  ALTERATION OR ENLARGEMENT OR
                                                  ANY CHANGE WHATEVER.

Signature(s) Guaranteed:

------------------------------------------------
THE SIGNATURES(S) SHOULD BE GUARANTEED BY AN
ELIGIBLE GUARANTOR INSTITUTION (BANKS,
STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED
SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT
TO S.E.C. RULE 17Ad-15.

Until the Separation Time (as defined in the Rights Agreement referred to
below), this certificate also evidences and entitles the holder hereof to
certain Rights as set forth in a Rights Agreement, dated as of March 21, 2000
(as such may be amended from time to time, the "Rights Agreement"), between
International Flavors & Fragrances Inc. (the "Company") and The Bank of New
York, as Rights Agent, the terms of which are hereby incorporated herein by
reference and a copy of which is on file at the principal executive offices of
the Company. Under certain circumstances, as set forth in the Rights Agreement,
such Rights may be redeemed, may become exercisable for securities or assets of
the Company or securities of another entity, may be exchanged for shares of
Common Stock or other securities or assets of the Company, may expire, may
become void (if they are "Beneficially Owned" by an "Acquiring Person" or an
Affiliate or Associate thereof, as such terms are defined in the Rights
Agreement, or by any transferee or any of the foregoing) or may be evidenced by
separate certificates and may no longer be evidenced by this certificate. The
Company will mail or arrange for the mailing of a copy of the Rights Agreement
to the holder of this certificate without charge after the receipt of a written
request therefor.

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