International Flavors & Fragrances Inc. Vision 2001 Compensation Program (Updated 2005)
This document outlines the Vision 2001 Compensation Program for International Flavors & Fragrances Inc., updated in 2005. It details the compensation structure for employees by salary grade, including salary ranges, annual and long-term incentives, equity awards, perquisites, and deferred compensation. The program specifies eligibility and benefit levels for each grade, including executive benefits such as car allowances, vacation, severance, and financial counseling. The plan is designed to reward performance and tenure, with certain benefits subject to performance criteria and service requirements.
| 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) | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Min. | Max. | Threshold | Target | Max. | Threshold | Target | Max. | Minimum | Target | Max. | ||
| 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) | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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.
