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EXHIBIT 10.8
                                   SUMMARY OF
                           2005 INCENTIVE COMPENSATION

The Incentive Compensation Program (ICP) is a compensation and reward mechanism
that shares with certain Balchem Corporation personnel, gains realized by the
corporation as a result of successful effort, individually or as a member of the
corporate team, beyond the basic tasks of their job responsibilities. These
achievements are critical to the company's attainment of its corporate goals.

The ICP also assists in communication and professional growth. To derive optimum
benefits from the efforts, the person must be fully acquainted with corporate
goals and the value system under which they have been created. Achievements that
require the individual to exceed minimum, acceptable performance will result in
sharpened job skills, enhanced creative thinking and a greater level of
professional satisfaction.

The ICP is, as its name implies, an incentive for certain employees to meet
successfully specific objectives beneficial to the corporation. A safeguard
requires that before an employee receives any bonus payments, the basic
responsibilities of the job description must have been carried out
satisfactorily. This ensures that normal operations will not be sacrificed, but
maintained at desired levels. In order for any and all participants to be
eligible to receive any portion of the ICP payout, the defined minimum Corporate
NIBIT (Net Income Before Interest and Taxes) objective must be met. Failure of
the Company to reach the NIBIT objective will result in no payout of ICP's for
that year under this program.

BONUSABLE GOALS

The process of establishing bonusable goals requires a well-defined annual
business plan from which most goals can be measured. The annual business plan,
approved by the Board of Directors, evolves from the Corporate Strategic Plan
that can also be the basis for some goals.

     o    Identification with corporate goals
     o    Identification of key objectives
     o    A minimum NIBIT will be established annually which must be achieved in
          order for any portion of bonus to be paid.

The Board of Directors reserves the right to approve a bonus payment, even when
the Corporate NIBIT objective is not met, for individuals that achieved
extraordinary performance in any given year.

DETERMINE RELATIVE VALUE OF GOALS

A.   The goal must be a stretch, beyond job responsibilities and the person's
     overall job performance must be rated at least as "meets expectations"
     level.

                                   Page 1 of 3

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B.   Placing value on specific goal will be arrived at by:

     o    To what degree will the objective help Balchem meet its stated goal
          for the year?

     o    What is the relative degree of difficulty required to achieve the
          goal, i.e., creativity, involvement or negotiation with others,
          problem solving and other indices?

     o    The intrinsic value of the goal: magnitude of income enhancement or
          cost savings?

C.   Typical number of ICP goals: Each employee will normally have from 4 to 6
     bonusable goals.

BONUSABLE RANGE:

ICP may be implemented in a range of 10-50% of an eligible employee's current
salary.

A 10% of salary bonus target will be established as a minimum for those
employees entering the ICP for the first time.

Lower acceptable level and upper attainable levels are to be established for
each goal wherever possible:

The lower limit is to be the level that would be the equivalent of excellent
effort to achieve the goal in its entirety, but not total achievement.

     o    Achieving the lower limit results in receiving 70% of the 100% bonus
          for that goal.

The upper level is the maximum that can be reasonably expected.

     o    Attainment of the upper level or more will result in receiving 130% of
          the 100% bonus for that goal.

Attainment of a goal between the lower limit and upper level may result in a
bonus in proportion to the deviation from the 100% level for that goal.

In determining the extent of fulfillment, judgment may have to be used when
deciding the appropriate award level when hard accounting numbers are not
available. When there is unclear distinction between levels of fulfillment, the
following questions can be used to help make the final determination:

     o    Were there advantages/benefits to the company above and beyond that
          which the business plan projected?
     o    Were there extenuating or unanticipated circumstances or events that
          either benefited or hindered the accomplishment of results?

ICP Eligible Personnel and levels of compensation are reviewed and approved
annually by the Corporation Compensation Committee of the Board of Directors.

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Weighting Guidelines:

     A. Approximately 20-30% of the bonus will be tied to corporate goals.

     B. Approximately 40% of the bonus will be based upon how successfully the
division or group contributes to corporate performance; i.e., sales & profits,
new customers, new products, cost reductions, efficiencies, etc.

     C. Approximately 30-40% will be based upon individual objectives.

A minimum NIBIT objective will be established annually. This minimum NIBIT
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objective must be achieved in order for any portion of bonus to be paid. The
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Compensation Committee of the Board of Directors will redefine this goal
annually based on prior year's performance and new annual plan.

All participating personnel will receive annual merit performance evaluations
that measure both job performance per the job description and accomplishment
toward ICP goals that are directly linked to corporate plans. Thus, total
compensation for eligible participants will be determined based upon both merit
and ICP program goal achievement.

Employees must receive an overall annual evaluation of at least "Meets
Expectations" to be eligible to participate in or receive any portion of a
bonus.

                                  Page 3 of 32000 Stock Award and Incentive Plan

	

INTERNATIONAL FLAVORS
& FRAGRANCES INC. 

2000 Stock Award and Incentive Plan 

As Amended and Restated 

Restricted Stock Units Agreement—Non-Employee Director 

This Restricted Stock Units Agreement
(the “Agreement”) confirms the grant on ____________, 20____ (the “Grant
Date”) by INTERNATIONAL FLAVORS & FRAGRANCES INC., a New York corporation (the
“Company”), to __________________  (“Grantee”) of Restricted
Stock Units (the “Units”), as follows: 

	  		  	Number  granted:             _____
Units 

	  		  	Units  vest:          All Units will vest on the third anniversary of the Grant Date, ____________, 20____ (the
“Stated Vesting Date”), if not previously forfeited. In addition, the Units
will become immediately vested upon a Change in Control or upon the occurrence of certain
events relating to termination of employment, in accordance with Section 4 hereof.  

	  		  	Settlement :          
 Units granted hereunder will be settled by delivery of one share of the Company’s
Common Stock, par value $.12-1/2 per share, for each Unit being settled. Subject to
elective deferral under Section 6 below, such settlement shall occur upon the vesting
(the lapse of the risk of forfeiture) of each Unit as specified above.  

	

     * * * * * * 

The Units are subject to the terms
and conditions of the 2000 Stock Award and Incentive Plan, as amended and restated (the
“Plan”), and this Agreement, including the Terms and Conditions of Restricted
Stock Units attached hereto. The number of Units and the kind of shares deliverable in
settlement of Units are subject to adjustment in accordance with Section 5 hereof and
Section 11(c) of the Plan. 

        Grantee
acknowledges and agrees that (i) Units are nontransferable, except as provided in Section
3 hereof and Section 11(b) of the Plan, (ii) Units, and certain amounts of gain realized
upon settlement of Units, are subject to forfeiture in the event of Grantee’s
Termination of Service in certain circumstances prior to vesting, as specified in Section
4 hereof, (iii) sales of shares delivered in settlement of Units will be subject to the
Company’s policies regulating trading by directors and (iv) a copy of the Plan and
related prospectus have previously been delivered to Grantee or are being delivered to
Grantee. 

        IN
WITNESS WHEREOF, INTERNATIONAL FLAVORS & FRAGRANCES INC. has caused this Agreement to
be executed by its officer thereunto duly authorized, and Grantee has duly executed this
Agreement, by which each has agreed to the terms of this Agreement. 

	Grantee

——————————————

Name		INERNATIONAL FLAVORS & FLAVORS INC.

By:  
——————————————

Name:    
Title:              

	

TERMS AND CONDITIONS OF RESTRICTED STOCK UNITS

        The
following Terms and Conditions apply to the Units granted to Grantee by INTERNATIONAL
FLAVORS & FRAGRANCES INC. (the “Company”), as specified in the Restricted
Stock Units Agreement (of which these Terms and Conditions form a part). Certain terms of
the Units, including the number of Units granted, vesting date(s) and settlement date, are
set forth on the preceding pages. 

             1.       
          General.   The Units are granted to Grantee under the
          Company’s 2000 Stock Award and Incentive Plan (the “Plan”), a
          copy of which, along with other documents constituting the
          “prospectus” for the Plan, have previously been delivered to Grantee
          or are being delivered to Grantee. All of the applicable terms, conditions and
          other provisions of the Plan are incorporated by reference herein. Capitalized
          terms used in this Agreement but not defined herein shall have the same meanings
          as in the Plan. If there is any conflict between the provisions of this document
          and mandatory provisions of the Plan, the provisions of the Plan govern. By
          accepting the grant of the Units, Grantee agrees to be bound by all of the terms
          and provisions of the Plan (as presently in effect or later amended), the rules
          and regulations under the Plan adopted from time to time, and the decisions and
          determinations of the Company’s Compensation Committee of the
          Company’s Board of Directors (the “Committee”) made from time to
          time, provided that no such Plan amendment, rule or regulation or Committee
          decision or determination shall materially and adversely affect the rights of
          the Grantee with respect to outstanding Units. 

             2.       
          Account for Grantee.   The Company shall maintain a bookkeeping
          account for Grantee (the “Account”) reflecting the number of Units
          then credited to Grantee hereunder as a result of such grant of Units. 

             3.       
          Nontransferability.   Until Units become settleable in
          accordance with the terms of this Agreement, Grantee may not transfer Units or
          any rights hereunder to any third party other than by will or the applicable
          laws of descent and distribution, except for transfers to a Beneficiary or
          otherwise if and to the extent permitted by the Company and subject to the
          conditions under Section 11(b) of the Plan. 

             4.       
          Termination Provisions.   The following provisions will
          govern the vesting and forfeiture of the Units in the event of Grantee’s
          Termination of Service (as defined below), unless otherwise determined by the
          Committee (subject to Section 8(a) hereof): 

		                (a)            Death
or Disability.   In the event of Grantee’s Termination of                Service
due to death or Disability (as defined below) all of the Units, to the
               extent then outstanding but not previously vested, will vest and become
               non-forfeitable immediately, and such Units, together with any
then-outstanding                Units that previously became vested and non-forfeitable,
will be settled as                promptly as practicable thereafter if not previously
settled.  

		                (b)            
Retirement.   In
the event of Grantee’s Termination of Service due to                Retirement (as
defined below), the Units, to the extent outstanding but not                previously
vested or otherwise forfeited, will continue to be outstanding and                will
vest at the time the Units would have become vested if Grantee had not
               Retired. Such Units will be settled as promptly as practicable following
               vesting.  

		                (c)            Other
Terminations.   In the event of Grantee’s Termination of Service
               for any reason other than death, Disability, or Retirement, any
then-outstanding                Units not vested at the date of Termination of Service
will be forfeited.  

		                (d)            Certain
Definitions.   The following definitions apply for purposes of this
               Agreement:  

		         
                     
                  
(i)              
“Disability” means Grantee’s physical or mental impairment which                is expected to be of
long-duration and which renders Grantee unable to perform                his or her
duties as a director. Determination of Disability will be in the sole
               discretion of the Board. 

	

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(ii)              “Retirement” means
retirement after attaining age 62. 

		                                                
(iii)              “Termination
of Service” means the event by which Grantee ceases to be           a director of
the Company. 

	

             5.       
          Dividends and Adjustments. 

		       
         
(a)            Dividends.  
No Dividends or Dividend Equivalents of any kind (including                cash
dividends, non-Common Stock Dividends or Common Stock Dividends) will be
               credited or paid on any unvested Units. Units that, at the relevant
dividend                record date that occurs before the issuance of shares in
settlement of Units,                previously have been vested (i.e., Units deferred as
to settlement under Section                6), shall be entitled to payments or credits
equivalent to dividends that would                have been paid if the Units had been
outstanding shares at such record date. The                form and timing of such
payments will be in the discretion of the Committee.  

		                
(b)            Adjustments.  
The number of Units credited to Grantee’s Account                and/or the property
deliverable upon settlement of Units shall be appropriately                adjusted, in
order to prevent dilution or enlargement of Grantee’s rights                with
respect to Units in connection with, or to reflect any changes in the
               number and kind of outstanding shares of Common Stock resulting from, any
               corporate transaction or event referred to in the first sentence of
Section                11(c) of the Plan.  

		                (c)            Risk
of Forfeiture and Settlement of Units Resulting from Adjustments.   Units
(and other property deliverable in settlement of Units) which directly or
               indirectly result from adjustments to a Unit granted hereunder shall be
subject                to the same risk of forfeiture as applies to the granted Unit and
will be                settled at the same time as the granted Unit.  

	

             6.       
          Deferral of Settlement.   Settlement of any Unit, which
          otherwise would occur upon the lapse of the risk of forfeiture of such Unit,
          will be deferred in certain cases if and to the extent validly elected by
          Grantee. Deferrals shall comply with requirements under Section 409A of the
          Internal Revenue Code. It is understood that Section 409A and regulations
          thereunder may make it impractical for any such deferral to take place. At any
          time that Units are deferred, they will be subject to accelerated settlement
          under Section 9(a) of the Plan only if the Change in Control constitutes a
          change in control under applicable regulations then in effect under Section
          409A. Other provisions of this Agreement notwithstanding, under U.S. federal
          income tax laws and Treasury Regulations (including proposed regulations) as
          presently in effect or hereafter implemented, (i) if the timing of any
          distribution in settlement of Units would result in Grantee’s constructive
          receipt of income relating to the Units prior to such distribution, the date of
          distribution will be the earliest date after the specified date of distribution
          that distribution can be effected without resulting in such constructive receipt
          (or, if delayed distribution would not avoid such constructive receipt,
          distribution will be accelerated to the date that would avoid such constructive
          receipt, but in no event will distribution occur before the Stated Vesting
          Date); and (ii) any rights of Grantee or retained authority of the Company with
          respect to Units hereunder shall be automatically modified and limited to the
          extent necessary so that Grantee will not be deemed to be in constructive
          receipt of income relating to the Units prior to the distribution and so that
          Grantee shall not be subject to any penalty under Section 409A of the Internal
          Revenue Code (the “Code”). 

             7.       
          Other Terms Relating to Units. 

		                (a)            Fractional
Units and Shares.   The number of Units credited to                Grantee’s
Account shall include fractional Units, if any, calculated to at                least
three decimal places, unless otherwise determined by the Committee. Unless
               settlement is effected through a third-party broker or agent that can
               accommodate fractional shares (without requiring issuance of a fractional
share                by the Company), upon settlement of the Units Grantee shall be paid,
in cash, an                amount equal to the value of any fractional share that would
have otherwise been                deliverable in settlement of such Units.  

	

3 

		                
(b)            Taxes.  
Grantee shall be responsible for any income taxes and other taxes
               resulting from the grant, vesting or settlement of Units.  

		                
(c)            Statements.  
An individual statement of each Grantee’s Account will                be issued to
Grantee at such times as may be determined by the Company. Such a
               statement shall reflect the number of Units credited to Grantee’s
Account,                transactions therein during the period covered by the statement,
and other                information deemed relevant by the Committee. Such a statement
may be combined                with or include information regarding other plans and
compensatory arrangements                for non-employee directors. Any statement
containing an error shall not,                however, represent a binding obligation to
the extent of such error.  

		                (d)            Grantee
Consent.   By signing this Agreement, Grantee voluntarily                acknowledges
and consents to the collection, use processing and transfer of                personal
data as described in this Section 7(d). Grantee is not obliged to                consent
to such collection, use, processing and transfer of personal data;
               however, failure to provide the consent may affect Grantee’s ability
to                participate in the Plan. The Company and its subsidiaries hold, for the
purpose                of managing and administering the Plan, certain personal
information about                Grantee, including Grantee’s name, home address and
telephone number, date                of birth, social security number or other Grantee
identification number, salary,                nationality, job title, any shares of stock
or directorships held in the                Company, and details of all options or any
other entitlement to shares of stock                awarded, canceled, purchased, vested,
unvested or outstanding in Grantee’s                favor (“Data”). The
Company and/or its subsidiaries will transfer Data                among themselves as
necessary for the purpose of implementation, administration                and management
of Grantee’s participation in the Plan and the Company                and/or any of
its subsidiaries may each further transfer Data to any third                parties
assisting the Company in the implementation, administration and                management
of the Plan. These recipients may be located in the European Economic
               Area, or elsewhere throughout the world, such as the United States.
Grantee                authorizes them to receive, possess, use, retain and transfer the
Data, in                electronic or other form, for the purposes of implementing,
administering and                managing Grantee’s participation in the Plan,
including any requisite                transfer of such Data as may be required for the
administration of the Plan                and/or the subsequent holding of shares on
Grantee’s behalf to a broker or                other third party with whom Grantee
may elect to deposit any shares acquired                pursuant to the Plan. Grantee
may, at any time, review Data, require any                necessary amendments to it or
withdraw the consents herein in writing by                contacting the Company;
however, withdrawing consent may affect Grantee’s                ability to
participate in the Plan.  

		                (e)            Consent
to Electronic Delivery.   Grantee hereby consents to electronic                delivery
of the Plan, the Prospectus for the Plan and other documents related to
               the Plan (collectively, the “Plan Documents”). The Company will
               deliver the Plan documents electronically to Grantee by e-mail, by posting
such                documents on its intranet website or by another mode of electronic
delivery as                determined by the Company in its sole discretion. The company
will send to the                Grantee an e-mail announcement when a new plan document
is available                electronically for Grantee’s review, download or
printing and will provide                instructions on where the plan document can be
found. Unless otherwise specified                in writing to the Company, Grantee will
not incur any costs for receiving the                plan documents electronically
through the Company’s computer network.                Grantee will have the right
to receive paper copies of any plan document by                sending a written request
for a paper copy to the address specified in Section                8(e) hereof. Grantee’s
consent to electronic delivery of the plan documents                will be valid and
remain effective until the earlier of (i) the termination of                Grantee’s
participation in the Plan and (ii) the withdrawal company                acknowledges and
agrees that Grantee has the right at any time to withdraw his                or her
consent to electronic delivery of the Plan documents by sending a written
               notice of withdrawal to the address specified in Section 8(e) hereof. If
Grantee                withdraws his or her consent to electronic delivery, the Company
will resume                sending paper copies of the Plan documents within ten (10)
business days of its                receipt of the withdrawal notice. Grantee
acknowledges that he or she is able to                access, view and retain an e-mail
announcement informing Grantee that the Plan                documents are available in
either HTML, PDF or such other format as the company                determines in sole
discretion.  

	

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             8.       
          Miscellaneous. 

		                (a)            Binding
Agreement; Written Amendments.   This Agreement shall be binding                upon
the heirs, executors, administrators and successors of the parties. This
               Agreement constitutes the entire agreement between the parties with
respect to                the Units, and supersedes any prior agreements or documents
with respect                thereto. No amendment or alteration of this Agreement which
may impose any                additional obligation upon the Company shall be valid
unless expressed in a                written instrument duly executed in the name of the
Company, and no amendment,                alteration, suspension or termination of this
Agreement which may materially                impair the rights of Grantee with respect
to the Units shall be valid unless                expressed in a written instrument
executed by Grantee.  

		                (b)            No
Promise of Continued Service as Director.   The Units and the granting
               thereof shall not constitute or be evidence of any agreement or
understanding,                express or implied, that Grantee has a right to continue as
a director of the                Company for any period of time, or at any particular
rate of compensation.  

		                (c)            Unfunded
Plan.   Any provision for distribution in settlement of                Grantee’s
Account hereunder shall be by means of bookkeeping entries on the                books of
the Company and shall not create in Grantee any right to, or claim                against
any, specific assets of the Company, nor result in the creation of any
               trust or escrow account for Grantee. With respect to Grantee’s
entitlement                to any distribution hereunder, Grantee shall be a general
creditor of the                Company.  

		                (d)            Governing
Law.   THE VALIDITY, CONSTRUCTION, AND EFFECT OF THIS AGREEMENT                SHALL BE
DETERMINED IN ACCORDANCE WITH THE LAWS (INCLUDING THOSE GOVERNING
               CONTRACTS) OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO PRINCIPLES
OF                CONFLICTS OF LAWS, AND APPLICABLE FEDERAL LAW.  

		        
        (e)            
Notices.  Any notice to be given the Company under this Agreement shall be                addressed
to the Company at 521 West 57th Street, New York, NY 10019,
               attention: Corporate Secretary, and any notice to the Grantee shall be
addressed                to the Grantee at Grantee’s address as then appearing in
the records of the                Company.  

	

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