INTERNATIONAL FLAVORS & FRAGRANCES INC
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<TYPE>EX-10.1
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Exhibit
10.1</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Performance
Criteria for 2008 under the Company's Annual Incentive Plan</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For 2008,
the corporate performance objectives and the derivative regional and/or category
objectives under the Company's Annual Incentive Plan, which the Compensation
Committee of the Company's Board of Directors approved on March 3, 2008, relate
to increases in sales, earnings before interest and taxes and return on
investment. The non-financial strategic initiatives, which the Compensation
Committee also approved on March 3, 2008, relate to (i) customers, including
market share, customer satisfaction, service performance and product quality,
(ii) workforce, including managing talent and development, and (iii) innovation,
including new products, growth and return on product investment, cost savings
initiatives and research and development innovation.</font></div>
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