International Flavors & Fragrances Inc. Vision 2001 Compensation Program — updated 2005 — Compensation Elements There are six elements of Vision 2001 Compensation Program: •Salary •Annual Incentive •Long Term Incentive •Equity •Perquisites •Deferred Compensation |
International Flavors & Fragrances Inc.
Vision 2001 Compensation Program - updated 2005 - Compensation Elements
(Incentive elements and equity represented as a percentage of base salary)
Salary
Grade | Salary Grade
Range ($000s) | Annual Incentive (a) | Long Term Incentive | Restricted Stock Grants (c) |
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| Min. | | Max. | Threshold | Target | Max. | Threshold | Target | Max. | Minimum | Target | Max. |
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| CEO | $900 | - | | 60.0% | 120.0% | 180.0% | 25.0% | 100.0% | 150.0% | 60.0% | 120.0% | 180.0% |
| L | $450 | - | $750 | 37.5% | 75.0% | 112.5% | 20.0% | 80.0% | 120.0% | 55.0% | 110.0% | 165.0% |
| K | $325 | - | $585 | 27.5% | 55.0% | 82.5% | 16.3% | 65.0% | 97.5% | 47.5% | 95.0% | 142.5% |
| J | $275 | - | $495 | 22.5% | 45.0% | 67.5% | 15.0% | 60.0% | 90.0% | 40.0% | 80.0% | 120.0% |
| I | $200 | - | $360 | 22.5% | 45.0% | 67.5% | 12.5% | 50.0% | 75.0% | 37.5% | 75.0% | 112.5% |
| H | $160 | - | $300 | 17.5% | 35.0% | 52.5% | 10.0% | 40.0% | 60.0% | 22.5% | 45.0% | 67.5% |
| G | $130 | - | $250 | 17.5% | 35.0% | 52.5% | | -- | | -- | 30.0% | -- |
| F | $100 | - | $200 | 12.5% | 25.0% | 37.5% | | -- | | -- | 20.0% | -- |
| E | $ 75 | - | $150 | 10.0% | 20.0% | 30.0% | | -- | | -- | 15.0% | -- |
| D | $ 60 | - | $110 | 5.0% | 10.0% | 15.0% | | -- | | -- | 10.0% | -- |
| C | $ 50 | - | $ 90 | 4.0% | 8.0% | 12.0% | | -- | | -- | 8.0% | -- |
| B | $ 40 | - | $ 65 | | n/a(b) | | | -- | | -- | -- | -- |
| A | $ 30 | - | $ 50 | | n/a(b) | | | -- | | -- | -- | -- |
(a) For Salary Grades G and below, target percentages expressed are for US based employees; target percentages vary in other countries based on competitive practice.
(b) Where competitively warranted, local incentive plans are in place.
(c) For Salary Grades H and above, restricted stock grants are subject to both performance criteria and service vesting provisions; for Salary Grades G and below, restricted stock grants are subject to service vesting provisions only.
Vision 2001 Compensation Program - updated 2005 - Other Elements
Perquisites Plan
Salary
Grade | Car | Vacation | Severance | Annual
Physical | Parking | Class of
Air Travel | Financial Counseling
& Estate Planning | Fitness
Club (e) |
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| CEO | Yes | per Board | per Contract (a) | Yes | Yes | First or Business | Yes (c) | Yes |
| L | Yes | 4 Weeks | per ESP (b) | Yes | Yes | First or Business | Yes (c ) | Yes |
| K | Yes | 4 Weeks | per ESP (b) | Yes | Yes | First or Business | Yes (c) | Yes |
| J | Yes | 4 Weeks | per ESP (b) | Yes | Yes | First or Business | Yes (c) | Yes |
| I | Yes | 4 Weeks | per ESP (b) | Yes | Yes | Business or Coach | Yes (d) | Yes |
| H | Yes | 4 Weeks | per ESP (b) | Yes | Yes | Business or Coach | Yes (d) | Yes |
| G | No | 4 Weeks | 12 months | Yes | No | Coach or Bus (> 5 hrs) | No | No |
| F | No | 3 Weeks | per Policy (6 mos min.) | No | No | Coach or Bus (> 5 hrs) | No | No |
| E | No | 3 Weeks | per Policy (6 mos min.) | No | No | Coach or Bus (> 5 hrs) | No | No |
| D | No | per Policy | per Policy | No | No | Coach or Bus (> 5 hrs) | No | No |
| C | No | per Policy | per Policy | No | No | -- | No | No |
| B | No | per Policy | per Policy | No | No | -- | No | No |
| A | No | per Policy | per Policy | No | No | -- | No | No |
(a) Covered under Executive Separation Policy except as provided in CEO letter agreement.
(b) ESP = Executive Separation Policy.
(c) Individual financial counseling from specified provider annually and estate/tax planning provided up to an amount of $4,000 per 3 year period.
(d) Individual financial counseling from specified provider annually.
(e) Fitness club subsidy provided to a maximum of $3,000 per year.
