<SEC-DOCUMENT>0001193125-21-025468.txt : 20210202
<SEC-HEADER>0001193125-21-025468.hdr.sgml : 20210202
<ACCEPTANCE-DATETIME>20210202102133
ACCESSION NUMBER:		0001193125-21-025468
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20210202
DATE AS OF CHANGE:		20210202
EFFECTIVENESS DATE:		20210202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERNATIONAL FLAVORS & FRAGRANCES INC
		CENTRAL INDEX KEY:			0000051253
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				131432060
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-252650
		FILM NUMBER:		21579375

	BUSINESS ADDRESS:	
		STREET 1:		521 W 57TH ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127655500

	MAIL ADDRESS:	
		STREET 1:		521 W 57TH ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VANAMERIGEN HAEBLER INC
		DATE OF NAME CHANGE:	19680426
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>d121961ds8.htm
<DESCRIPTION>S-8
<TEXT>
<HTML><HEAD>
<TITLE>S-8</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>As filed with the Securities and Exchange Commission on February&nbsp;2, 2021 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Registration
<FONT STYLE="white-space:nowrap">No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> </B></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES
AND EXCHANGE COMMISSION </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT STYLE="white-space:nowrap">S-8</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>REGISTRATION STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>UNDER </I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>THE
SECURITIES ACT OF 1933 </I></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>INTERNATIONAL FLAVORS&nbsp;&amp; FRAGRANCES INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="50%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>New York</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">13-1432060</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or Other Jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Incorporation or Organization)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>521 West 57<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>&nbsp;St </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New York, New York 10019 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of Principal Executive Offices) (Zip Code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INTERNATIONAL FLAVORS AND FRAGRANCES INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONVERSION EQUITY AWARDS ASSUMED UNDER THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>2015 STOCK AWARD AND INCENTIVE PLAN </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Full Title of the Plan) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Jennifer Johnson, Esq. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>General Counsel </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>International Flavors&nbsp;&amp; Fragrances Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>521 West 57th Street </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New
York, New York 10019 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Telephone: <FONT STYLE="white-space:nowrap">(212)&nbsp;765-5500</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name, Address and Telephone Number, Including Area Code, of Agent for Service)</B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a <FONT STYLE="white-space:nowrap">non-accelerated</FONT>
filer, or a smaller reporting company. See the definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; <FONT STYLE="white-space:nowrap">in&nbsp;Rule&nbsp;12b-2&nbsp;of</FONT> the
Exchange Act. (Check one): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="17%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="58%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="20%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Large&nbsp;accelerated&nbsp;filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Accelerated&nbsp;filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"><FONT STYLE="white-space:nowrap">Non-accelerated</FONT> filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;&nbsp;(Do not check if a smaller reporting company)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Smaller&nbsp;reporting&nbsp;company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Emerging&nbsp;growth&nbsp;company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to section 7(a)(2)(B) of the Securities Act&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CALCULATION
OF REGISTRATION FEE </B></P> <P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="44%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD></TR>


<TR STYLE="font-size:1px; ">
<TD COLSPAN="9" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"><B>Title&nbsp;of&nbsp;securities<BR>to&nbsp;be&nbsp;registered</B></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Amount&nbsp;to&nbsp;be</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>registered (1)</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Proposed</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>maximum</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>offering
price</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>per share(2)</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Proposed</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>maximum<BR>aggregate</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>offering price (2)</B></P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Amount of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>registration&nbsp;fee</B></P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-TOP:1px solid #000000"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Common stock, par value $0.125&nbsp;per share</P></TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">599,443</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">$113.01</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">$65,591,006.87</TD>
<TD VALIGN="bottom" STYLE=" BORDER-LEFT:1px solid #000000; BORDER-TOP:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="BORDER-TOP:1px solid #000000">$7,155.98</TD></TR>
<TR STYLE="font-size:1px; ">
<TD COLSPAN="9" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1px; ">
<TD COLSPAN="9" VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD></TR>
</TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">This registration statement (&#147;<U>Registration Statement</U>&#148;) covers 599,443 shares of common stock,
par value $0.125 (&#147;<U>Common Stock</U>&#148;) of International Flavors&nbsp;&amp; Fragrances Inc. (the &#147;<U>Registrant</U>&#148; or &#147;<U>IFF</U>&#148;) which may be offered or sold from time to time pursuant to certain equity awards
(the &#147;<U>Conversion Equity Awards</U>&#148;) that were assumed by IFF and will be administered in accordance with the terms of the International Flavors&nbsp;&amp; Fragrances Inc. 2015 Stock Award and Incentive Plan, as amended and restated
February 7, 2017 (the &#147;<U>2015 Plan</U>&#148;). Pursuant to Rule&nbsp;416(a) under the Securities Act of 1933, as amended (the &#147;<U>Securities Act</U>&#148;), this Registration Statement also covers such indeterminate number of additional
shares of Common Stock as become issuable in connection with the Conversion Equity Awards by reason of any stock dividend, stock split, recapitalization or other similar transaction affected without the receipt of consideration that increases the
number of the Registrant&#146;s outstanding shares of Common Stock. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Estimated solely for the purpose of calculating the registration fee in accordance with Rules&nbsp;457(c) and
457(h) under the Securities Act, on the basis of (i) the average of the high and low prices of the Common Stock as reported on the New York Stock Exchange on January&nbsp;29, 2021 for all outstanding restricted stock units and (ii) the price at
which the options or stock appreciation rights may be exercised for all outstanding options and stock appreciation rights. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART I. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION REQUIRED IN THE SECTION&nbsp;10(a) PROSPECTUS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The information specified in Items&nbsp;1 and 2 of Part&nbsp;I of the <FONT STYLE="white-space:nowrap">Form&nbsp;S-8</FONT> is omitted from this filing in
accordance with the provisions of Rule&nbsp;428 under the Securities Act and the introductory note to Part&nbsp;I of the <FONT STYLE="white-space:nowrap">Form&nbsp;S-8.</FONT> The document(s) containing the information specified in Part&nbsp;I of <FONT
STYLE="white-space:nowrap">Form&nbsp;S-8</FONT> will be sent or given to the recipients of the applicable grants, as required by Rule&nbsp;428 under the Securities Act. Such documents are not being filed with the Securities and Exchange Commission
(the &#147;<U>Commission</U>&#148;) either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule&nbsp;424. These documents and the documents incorporated by reference in this Registration Statement
pursuant to Item&nbsp;3 of Part&nbsp;II hereof, taken together, constitute a prospectus that meets the requirements of Section&nbsp;10(a) of the Securities Act. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART II. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;3.&nbsp;Incorporation of Certain Documents by Reference. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following documents, which have been filed by the Registrant with the Commission, are incorporated by reference in this Registration Statement: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Registrant&#146;s Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/51253/000005125320000007/iff10k2019.htm">
<FONT STYLE="white-space:nowrap">Form&nbsp;10-K</FONT></A> for the year ended December&nbsp;31, 2019, as filed with the Commission on March&nbsp;3, 2020 (the &#147;<U>Annual Report</U>&#148;); </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The description of the Common Stock contained in Exhibit&nbsp;
99.1 to the Registrant&#146;s Current Report on <A HREF="http://www.sec.gov/Archives/edgar/data/51253/000121465910001242/f4291048k.htm"><FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT></A> as filed with the Commission on April&nbsp;30, 2010; and
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">All other reports and other documents filed by the Registrant pursuant to Section&nbsp;13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended (the &#147;<U>Exchange Act</U>&#148;), since the end of the fiscal year covered by the Registrant document referred to in (a)&nbsp;above and prior to the filing of a post-effective amendment to this
Registration Statement, which indicates that all securities registered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part
hereof from the date of filing of such reports and other documents. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For purposes of this Registration Statement, any document or any
statement contained in a document incorporated or deemed incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained in any other subsequently
filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of
this Registration Statement. Nothing in this Registration Statement shall be deemed to incorporate information furnished but not filed with the Commission pursuant to Item&nbsp;2.02 or Item&nbsp;7.01
<FONT STYLE="white-space:nowrap">of&nbsp;Form&nbsp;8-K.</FONT> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;4.&nbsp;Description of Securities. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.&nbsp;Interests of Named Experts
and Counsel. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The validity of the Common Stock to be issued under the 2015 Plan will be passed upon by Nanci Prado, the Registrant&#146;s Deputy
General Counsel. Ms.&nbsp;Prado is a full-time employee of the Registrant and may be eligible to participate in the various employee benefit plans that the Registrant offers generally to employees and owns and has equity and equity-based awards with
respect to shares of Common Stock. Ms.&nbsp;Prado currently beneficially owns less than 1% of the Registrant&#146;s outstanding Common Stock. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;6.&nbsp;Indemnification of Directors and Officers. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to Article VI, Section&nbsp;1 of IFF&#146;s Bylaws, as they may be amended (the &#147;<U>IFF Bylaws</U>&#148;), IFF has agreed to indemnify any person
made, or threatened to be made, a party to an action or proceeding, whether civil or criminal, by reason of the fact that he or she, or a person of whom he or she is the legal representative, is or was a director or officer of IFF, or was serving,
at the request of IFF, as a director, officer, employee, fiduciary or agent of any other affiliated corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, against judgments, fines, amounts paid in settlement and
reasonable expenses, including attorney&#146;s fees, incurred by such person as a result of such action or proceeding, or any appeal therein, unless a judgment or other final adjudication adverse to such person establishes that his or her acts, or
the acts of the person of whom he or she is the legal representative, were committed in bad faith or were the result of active and deliberate dishonesty and were material to the cause of action so adjudicated, or that he or she, or the person of
whom he or she is the legal representative, personally gained in fact a financial profit or other advantage to which he or she, or the other person of whom he or she is the legal representative, was not legally entitled. The IFF Bylaws provide that
IFF shall advance to such person funds to pay for such expenses, including attorney&#146;s fees, incurred by such person in defending against any such action or proceeding, or any appeal therein, upon receipt of an undertaking by or on behalf of
such person to repay such funds to IFF if a judgment or other final adjudication adverse to such person establishes that his or her acts, or the acts of the person of whom he or she is the legal representative, were committed in bad faith or were
the result of active and deliberate dishonesty and were material to the cause of action so adjudicated, or that he or she, or the person of whom he or she is the legal representative, personally gained in fact a financial profit or other advantage
to which he or she, or such person, was not legally entitled. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Article VI, Section&nbsp;2 of the IFF Bylaws provides that if a claim under Article VI,
Section&nbsp;1 of the IFF Bylaws is not paid in full by IFF within thirty (30)&nbsp;days after a written claim has been received by IFF, the claimant may at any time thereafter bring suit against IFF to recover the unpaid amount of the claim and, if
successful in whole or in part, the claimant shall be entitled to be paid also the expenses of prosecuting such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending any
proceeding in advance of its final disposition where the required undertaking, if any is required, has been tendered to IFF) that the claimant, or the person of whom he or she is the legal representative, has not met the standard of conduct
established in Article VI, Section&nbsp;1 of the IFF&nbsp;Bylaws,&nbsp;but the burden of proving such defense shall be on IFF. Neither the failure of IFF (including IFF&#146;s board of directors, independent legal counsel, or its shareholders) to
have made a determination prior to the commencement of such action that indemnification of the claimant is proper because the claimant or such person has met the said standard of conduct, nor an actual determination by IFF (including IFF&#146;s
board of directors, independent legal counsel, or its shareholders) that the claimant or such person has not met such applicable standard of conduct, shall be a defense to action or create a presumption that the claimant or such person has not met
such standard of conduct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Article VI, Section&nbsp;3 of the IFF Bylaws provides that subject to the limitations contained in Article VI, Section&nbsp;1
of the IFF Bylaws, the right to indemnification and the payment of expenses conferred under the IFF Bylaws shall not be deemed exclusive of any other right to which any person seeking indemnification or advancement or payment of expenses may be
entitled. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Article VI, Section&nbsp;6 of the IFF Bylaws&nbsp;also provides that IFF may purchase and maintain insurance to indemnify officers, directors
and others against costs or liabilities incurred by them in connection with the performance of their duties and any activities undertaken by them for, or at the request of, IFF, to the fullest extent permitted by the New York Business Corporation
Law (the &#147;<U>NYBCL</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;721 of the NYBCL provides, among other things, that indemnification pursuant to the NYBCL will not be
deemed exclusive of other indemnification rights to which a director or officer may be entitled, provided that no indemnification may be made if a judgment or other final adjudication adverse to the director or officer establishes that (i)&nbsp;his
acts were committed in bad faith or were the result of active and deliberate dishonesty, and, in either case, were material to the cause of action so adjudicated, or (ii)&nbsp;he personally gained in fact a financial profit or other advantage to
which he was not legally entitled. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;722(a) of the NYBCL provides, among other things, that a corporation may indemnify a person
made, or threatened to be made, a party to any civil or criminal action or proceeding, other than an action by or in the right of the corporation to procure judgment in its favor, but including an action by or in the right of any other corporation
or entity which any director or officer served in any capacity at the request of the corporation, by reason of the fact that he or his testator or intestate was a director or officer of the corporation or served such other entity in any capacity,
against judgments, fines, amounts paid in settlement and reasonable expenses, including attorneys&#146; fees actually and necessarily incurred as a result of such action or proceeding, or any appeal therein, if such director or officer acted, in
good faith, for a purpose which he reasonably believed to be in, or, in the case of service to any other entity, not opposed to, the best interests of the corporation and, in criminal actions or proceedings, in addition, had no reasonable cause to
believe that his conduct was unlawful. With respect to actions by or in the right of the corporation to procure judgment in its favor, Section&nbsp;722(c) of the NYBCL provides that a person who is or was a director or officer of the corporation or
who is or was serving at the request of the corporation as a director or officer of any other corporation or entity may be indemnified against amounts paid in settlement and reasonable expenses, including attorneys&#146; fees, actually and
necessarily&nbsp;incurred in connection with the defense or settlement of such an action, or any appeal therein, if such director or officer acted, in good faith, for a purpose which he reasonably believed to be in, or, in the case of service to any
other entity, not opposed to, the best interests of the corporation and that no indemnification may be made in respect of (i)&nbsp;a threatened action, or a pending action which is settled or otherwise disposed of, or (ii)&nbsp;any claim, issue or
matter as to which such person has been adjudged to be liable to the corporation, unless and to the extent an appropriate court determines that the person is fairly and reasonably entitled to partial or full indemnification. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;723 of the NYBCL specifies, among other things, the manner in which the corporation may authorize payment of such indemnification. It provides
that a director or officer who has been successful, whether on the merits or otherwise, in defending an action or proceeding of the character described in Section&nbsp;722 of the NYBCL, shall be entitled to indemnification by the corporation. Except
as provided in the preceding sentence, indemnification may be made by the corporation only if authorized in the specific case by one of the corporate actions set forth in Section&nbsp;723 (unless ordered by a court under Section&nbsp;724 of the
NYBCL). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;724 of the NYBCL provides, among other things, that upon proper application by a director or officer, indemnification shall be
awarded by a court to the extent authorized under Sections 722 and 723(a) of the NYBCL. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;725 of the NYBCL contains, among other things,
certain other miscellaneous provisions affecting the indemnification of directors and officers, including provision for the return of amounts paid as indemnification if any such person is ultimately found not to be entitled to the indemnification.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Section&nbsp;726(a) of the NYBCL authorizes the purchase and maintenance of insurance to indemnify (i)&nbsp;a corporation for any obligation which it
incurs as a result of the indemnification of directors and officers under the above sections, (ii)&nbsp;directors and officers in instances in which they may be indemnified by a corporation under such sections, and (iii)&nbsp;directors and officers
in instances in which they may not otherwise be indemnified by a corporation under such sections, provided the contract of insurance covering such directors and officers provides, in a manner acceptable to the New York State Superintendent of
Insurance, for a retention amount <FONT STYLE="white-space:nowrap">and&nbsp;for&nbsp;co-insurance.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, Section&nbsp;402(b) of the NYBCL
provides that a corporation may include a provision in its certificate of incorporation eliminating or limiting the liability of its directors to the corporation or its shareholders for damages for the breach of any duty, except for a breach
involving bad faith, intentional misconduct, a knowing violation of law or receipt of an improper personal benefit or for certain illegal dividends, loans or stock repurchases. Article Eleven of IFF&#146;s Restated Certificate of Incorporation, as
it may be amended (the &#147;<U>Charter</U>&#148;) contains such a provision. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Further, IFF maintains insurance policies that insure its officers and
directors against certain liabilities. IFF has also entered into agreements with certain of its directors and officers that will require IFF, among other things, to indemnify them against certain liabilities that may arise by reason of their status
or service as directors or officers to the fullest extent permitted by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The foregoing summaries are necessarily subject to the complete text of the
NYBCL, the IFF Charter and the IFF Bylaws and the arrangements referred to above and are qualified in their entirety by reference thereto. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The 2015 Plan also provides that IFF shall indemnify members of the committee that administers the 2015 Plan
and each other director or employee of IFF to whom any duty or power relating to the administration or interpretation of the 2015 Plan has been delegated, against any cost or expense (including counsel fees) or liability (including any sum paid in
settlement of a claim with the approval of the committee that administers the 2015 Plan) arising out of any action, omission, or determination relating to the 2015 Plan, unless, in either case, such action, omission, or determination was taken or
made by such member, director, or employee in bad faith and without reasonable belief that it was in the best interests of IFF. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;7.&nbsp;Exemption From Registration Claimed. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not Applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.&nbsp;Exhibits. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Index of Exhibits filed herewith and appearing immediately after the signature page to this Registration Statement is incorporated by reference into this
Item&nbsp;8. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.&nbsp;Undertakings. </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Registrant hereby undertakes: </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">To include any prospectus required by section&nbsp;10(a)(3) of the Securities Act; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">To reflect in the prospectus any facts or events arising after the effective date of this Registration
Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">To include any material information with respect to the plan of distribution not previously disclosed in this
Registration Statement or any material change to such information in this Registration Statement; </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">provided, however,
that paragraphs&nbsp;(a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be included in a post-effective amendment by those subparagraphs is contained in reports filed with or furnished to the Commission by the Registrant
pursuant to section&nbsp;13 or section&nbsp;15(d) of the Exchange Act that are incorporated by reference in this Registration Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a
new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">The Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each
filing of the Registrant&#146;s annual report pursuant to section&nbsp;13(a) or section&nbsp;15(d) of the Exchange Act that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial <I>bona fide</I> offering thereof. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the undersigned Registrant of expenses incurred or paid by a director, officer or controlling person of the
Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final
adjudication of such issue. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>[SIGNATURE PAGES AND POA FOLLOW] </B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="47%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exhibit</B><br><B>Number</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Method of Filing</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Restated Certificate of Incorporation of the Registrant</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="http://www.sec.gov/Archives/edgar/data/51253/000095013602002297/file007.txt">Incorporated by reference to Exhibit&nbsp;10(g) to Registrant&#146;s Report on <FONT STYLE="white-space:nowrap">Form&nbsp;
10-Q,</FONT> filed with the Commission on August&nbsp;12, 2002. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d121961dex42.htm"><FONT STYLE="white-space:nowrap">By-Laws</FONT> of the Registrant </A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Filed herewith.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Specimen Certificate of the Registrant&#146;s Common Stock</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="http://www.sec.gov/Archives/edgar/data/51253/000095011000001070/0000950110-00-001070-0002.txt">Incorporated by reference to Exhibit&nbsp;
4(b) to the Registrant&#146;s Registration Statement <FONT STYLE="white-space:nowrap">on&nbsp;Form&nbsp;S-3</FONT> <FONT STYLE="white-space:nowrap">(File&nbsp;No.&nbsp;333-46932),</FONT> filed with the Commission on September&nbsp;29, 2000.
</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.4</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">International Flavors&nbsp;&amp; Fragrances Inc. 2015 Stock Award and Incentive Plan, as amended and restated February 7, 2017</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><A HREF="http://www.sec.gov/Archives/edgar/data/51253/000119312515096222/d878988ddef14a.htm#tx878988_54">Incorporated by reference Exhibit 10.13 to the Registrant&#146;s Annual Report on Form 10-K, filed with the Commission on February
 28, 2017. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d121961dex51.htm">Opinion of Nanci Prado, Esq. Deputy General Counsel of the Registrant </A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Filed herewith.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d121961dex231.htm">Consent of PricewaterhouseCoopers LLP, Independent Registered Public Accounting Firm </A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Filed herewith.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>23.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d121961dex51.htm">Consent of Nanci Prado, Esq. (included in Exhibit&nbsp;5.1) </A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Filed herewith.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>24.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="#sig">Power of Attorney (filed as part of signature pages) </A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Filed herewith.</TD></TR>
</TABLE>
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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="sig"></A>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant, International Flavors&nbsp;&amp; Fragrances Inc.,
certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form <FONT STYLE="white-space:nowrap">S-8</FONT> and has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of New York, State of New York, on February&nbsp;1, 2021. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="8%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3">INTERNATIONAL FLAVORS&nbsp;&amp; FRAGRANCES INC.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Andreas Fibig</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Andreas Fibig</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Executive Officer</TD></TR>
</TABLE></DIV>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>POWER OF ATTORNEY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>KNOWN TO ALL PERSON BY THESE PRESENTS</B>, that each person whose signature appears below constitutes and appoints each of Rustom Jilla,
Executive Vice President and Chief Financial Officer, and Jennifer Johnson, Executive Vice President and General Counsel, individually, his or her <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact,</FONT></FONT> with
the power of substitution, for him or her in any and all capacities, to sign any amendments to this Registration Statement (including post-effective amendments), and to file the same, with exhibits thereto and other documents in connection
therewith, with the Commission, hereby ratifying and confirming all that each said <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact,</FONT></FONT> or his substitute or substitutes, may do or cause to be done by
virtue hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act, this Registration Statement has been signed by the following persons
in the indicated capacities as of February&nbsp;1, 2021. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="59%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Title</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Andreas Fibig</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Andreas Fibig</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Chairman of the Board of Directors and Chief Executive Officer</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rustom Jilla</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Rustom Jilla</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Chief Financial Officer</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Dr.&nbsp;Kathryn Boor</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Dr.&nbsp;Kathryn Boor</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Edward Breen</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Edward Breen</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Carol Anthony (John) Davidson</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Carol Anthony (John) Davidson</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
</TABLE>
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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


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<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="59%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Michael Ducker</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Michael Ducker</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Roger W. Ferguson, Jr.</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Roger W. Ferguson, Jr.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ John Ferraro</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">John Ferraro</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Christina Gold</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Christina Gold</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Ilene Gordon</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ilene Gordon</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Dr.&nbsp;Matthias Heinzel</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dr.&nbsp;Matthias Heinzel</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Dale Morrison</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dale Morrison</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Kare Schultz</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Kare Schultz</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Stephen Williamson</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Stephen Williamson</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Director</P></TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-4.2
<SEQUENCE>2
<FILENAME>d121961dex42.htm
<DESCRIPTION>EX-4.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.2</TITLE>
</HEAD>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 4.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT STYLE="white-space:nowrap">BY-LAWS</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">of </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INTERNATIONAL
FLAVORS&nbsp;&amp; FRAGRANCES INC. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(a New York corporation) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(as adopted March&nbsp;10, 1964, including all amendments </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">adopted as of February&nbsp;1, 2021) </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MEETINGS OF
SHAREHOLDERS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;<B>Annual Meeting</B>. The annual meeting of the shareholders of International Flavors&nbsp;&amp;
Fragrances Inc. (the &#147;Corporation&#148;) for the election of directors and for the transaction of such other business as may properly come before the meeting shall be held at such place, on such date and at such time as shall be designated from
time to time by the Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2&nbsp;&nbsp;&nbsp;&nbsp;<B>Special Meetings</B>. Special meetings of the shareholders, unless
otherwise prescribed by the New York Business Corporation Law (the &#147;Business Corporation Law&#148;), may be called at any time by the Chair of the Board, the Chief Executive Officer or by a majority of the Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3&nbsp;&nbsp;&nbsp;&nbsp;<B>Notice of Meetings; Business to be Presented at Meeting</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Notice of Meeting. Written notice of each meeting of shareholders stating the place, date and hour of the meeting shall be sent to
each shareholder entitled to vote at the meeting not less than ten (10)&nbsp;nor more than sixty (60)&nbsp;days before the date of the meeting. To the extent that the meeting is a special meeting, such notice shall also indicate the person or
persons calling the meeting, or the person(s) directing that the meeting be so called, and shall state the purpose or purposes for which the meeting has been called. Notice of any meeting of shareholders may be sent either in written or electronic
form and shall comply with Section&nbsp;505 of the Business Corporation Law. No business shall be conducted at a meeting of the shareholders except in accordance with the procedures set forth in this Section&nbsp;3. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Nature of Business at Annual Meetings of Shareholders. No business may be transacted at an annual meeting of shareholders other
than business that is either (i)&nbsp;specified in the notice of meeting (or any supplement thereto) given by or at the direction of the Board of Directors (or any duly authorized committee thereof), (ii)&nbsp;otherwise properly brought before an
annual meeting, by or at the direction of the Board of Directors (or any duly authorized committee thereof), (iii) otherwise properly brought before an annual meeting by any shareholder of the Corporation (A)&nbsp;who is a shareholder of record
(x)&nbsp;on the date the shareholder provides the shareholder notice required by Section&nbsp;3(d), (y) on the record date for the determination of shareholders entitled to vote at such meeting and (z)&nbsp;on the date of such meeting and
(B)&nbsp;who complies with the advance notice procedures set forth in Section&nbsp;3(d) or (iv)&nbsp;otherwise properly brought before an annual meeting pursuant to Section&nbsp;4. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in these <FONT STYLE="white-space:nowrap">By-Laws</FONT> to the contrary, no business shall be conducted at an annual
meeting of shareholders except business brought before such meeting in accordance with the procedures set forth in this Section&nbsp;3; provided, however, that, once business has been properly brought before the meeting in accordance with such
procedures, nothing in this Section&nbsp;3 shall be deemed to preclude discussion by any shareholder of any such business. If the chair of an annual meeting determines that business was not properly brought before such meeting in accordance with the
foregoing procedures, the chair shall declare to the meeting that the business was not properly brought before the meeting and such business shall not be transacted. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Director Nominations. Nominations of persons for election to the Board of
Directors may be made at any annual meeting of shareholders, or at any special meeting of shareholders called for the purpose of electing directors: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;subject to Article II, Section&nbsp;14, by or at the direction of the Board of Directors (or any duly authorized
committee thereof), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;by any shareholder of the Corporation (A)&nbsp;who is a shareholder of record (x)&nbsp;on
the date the shareholder provides the shareholder notice required by Section&nbsp;3(d), (y) on the record date for the determination of shareholders entitled to vote at such meeting and (z)&nbsp;on the date of such meeting and (B)&nbsp;who complies
with the advance notice procedures set forth in this Section&nbsp;3; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;by any Eligible Shareholder or
Eligible Shareholder Group (each as defined in Section&nbsp;4 of this Article I) with respect to any director nomination to be included in the Corporation&#146;s proxy statement for an annual meeting who satisfies the requirements set forth in
Section&nbsp;4 of this Article I. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in these <FONT STYLE="white-space:nowrap">By-Laws</FONT> to the contrary, except as set forth
in Article II, Section&nbsp;6, no person shall be eligible for election as a director of the Corporation unless nominated in accordance with the procedures set forth in this Section&nbsp;3 or Section&nbsp;4. If the chair of the meeting determines
that a nomination was not made in accordance with the procedures set forth in this Section&nbsp;3 or Section&nbsp;4, the chair shall declare to the meeting that the nomination was defective and such defective nomination shall be disregarded. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;Required Notice for Director Nomination or Submission of Other Proposal.&nbsp;&nbsp;&nbsp;&nbsp;In addition to any other applicable
requirements, in order for a shareholder to present any business to be transacted at an annual meeting of shareholders, including any nomination for a director to be made by a shareholder (whether pursuant to Section&nbsp;3(c)(ii) or
Section&nbsp;3(c)(iii) of this Article I above), such shareholder must provide the Secretary of the Corporation notice thereof that (A)&nbsp;complies with the time requirements set forth in clause (1)&nbsp;below and (B)&nbsp;includes the information
required by this Section&nbsp;3 or Section&nbsp;4 of this Article I. The provisions of this Section&nbsp;3 shall be the exclusive means for a shareholder to make nominations or submit other business (other than matters properly brought under Rule <FONT
STYLE="white-space:nowrap">14a-8</FONT> of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;)). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;<U>Timely Notice</U>. To be timely, a shareholder&#146;s notice to the Secretary must be delivered to or mailed and
received at the principal executive offices of the Corporation (i)&nbsp;in the case of an annual meeting, not less than ninety (90)&nbsp;days nor more than <FONT STYLE="white-space:nowrap">one-hundred</FONT> and twenty (120)&nbsp;days prior to the
anniversary date of the immediately preceding annual meeting of shareholders; provided, however, that in the event that the annual meeting is called for on a date that is not within thirty (30)&nbsp;days before or after such anniversary date, notice
by the shareholder in order to be timely must be so received not later than the close of business on the tenth (10th) day following the day on which such notice of the date of the annual meeting was mailed or such public disclosure of the date of
the annual meeting was made, whichever first occurs; and (ii)&nbsp;in the case of a special meeting of shareholders called for the purpose of electing directors, not later than the close of business on the tenth (10th) day following the day on which
notice of the date of the special meeting was mailed or public disclosure of the date of the special meeting was made, whichever first occurs. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice Requirements for Nomination of any Director by a
Shareholder</U>. For nominations to be properly brought before a meeting by a Shareholder pursuant to Article I, Section&nbsp;3(c)(ii) or Section&nbsp;3(c)(iii), the shareholder&#146;s notice must set forth the following information </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;&nbsp;&nbsp;&nbsp;as to each person whom the shareholder proposes to nominate for election as a director the following information:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">1)&nbsp;&nbsp;&nbsp;&nbsp;the name, age, business address and residence address of the proposed nominee; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">2)&nbsp;&nbsp;&nbsp;&nbsp;a complete biography or statement of the proposed nominee&#146;s qualifications, including principal occupation or
employment of such person (present and for the past five (5)&nbsp;years), education, work experience, knowledge of the Corporation&#146;s industry, membership on the board of directors of any other corporation currently held or held within the past
five (5)&nbsp;years and civic activity; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">3)&nbsp;&nbsp;&nbsp;&nbsp;the class or series and number of shares of capital stock of the
Corporation which are &#147;beneficially owned&#148; (as such term is defined by Section&nbsp;13(d) of the Exchange Act ) or held of record by the proposed nominee and any other ownership interest in shares of the Corporation, whether economic or
otherwise, including any option, warrant, convertible security, stock appreciation right, or similar right with an exercise or conversion privilege or a settlement payment or mechanism at a price related to any class or series of shares of the
Corporation or with a value derived in whole or in part from the value of any class or series of shares of the Corporation, whether or not such instrument or right shall be subject to settlement in the underlying class or series of shares of the
Corporation or otherwise directly or indirectly beneficially owned by such person and any other direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the value of the shares of the Corporation
(&#147;Derivative Interests&#148;) (which information shall be supplemented not later than ten (10)&nbsp;days after the record date for the meeting to disclose such ownership as of the record date); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">4)&nbsp;&nbsp;&nbsp;&nbsp;the date any shares or Derivative Interests were acquired and the investment intent of such acquisition; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">5)&nbsp;&nbsp;&nbsp;&nbsp;a description of all arrangements or understandings between the shareholder and the proposed nominee and/or any
other person or persons pursuant to which the nomination is to be made by the shareholder; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">6)&nbsp;&nbsp;&nbsp;&nbsp;any other
information relating to the proposed nominee that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors pursuant to Section&nbsp;14 of the
Exchange Act, and the rules and regulations promulgated thereunder; including information with respect to a proposed nominee&#146;s independence as defined under the rules and regulations promulgated by the Securities and Exchange Commission (the
&#147;SEC&#148;) and New York Stock Exchange and information regarding the proposed nominee&#146;s attributes that the Nominating and Governance Committee of the Board of Directors would need to consider in order to assess whether such proposed
nominee would qualify as an &#147;audit committee financial expert&#148; as defined by the rules and regulations promulgated by the SEC; and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">7)&nbsp;&nbsp;&nbsp;&nbsp;a copy of the completed and signed Questionnaire and the
Statement of Representations and Agreements described in Section&nbsp;3(e) below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Corporation may require any proposed nominee to furnish such other
information as may reasonably be required by the Corporation to determine the eligibility of such proposed nominee to serve as director of the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;&nbsp;&nbsp;&nbsp;as to the shareholder giving the notice the following information: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">1)&nbsp;&nbsp;&nbsp;&nbsp;the name and address of such record shareholder and the beneficial owner, if any, on whose behalf the nomination is
made; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">2)&nbsp;&nbsp;&nbsp;&nbsp;the class or series and number of shares of capital stock of the Corporation which are owned
beneficially or of record by such shareholder and the beneficial owner, if any; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">3)&nbsp;&nbsp;&nbsp;&nbsp;the class or series and number
of shares of capital stock of the Corporation which are owned beneficially or of record and any other Derivative Interests owned by the shareholder (which information shall be supplemented not later than ten (10)&nbsp;days after the record date for
the meeting to disclose such ownership as of the record date); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">4)&nbsp;&nbsp;&nbsp;&nbsp;the date any shares or Derivative Interests
were acquired and the investment intent of such acquisition; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">5)&nbsp;&nbsp;&nbsp;&nbsp;a description of all arrangements or
understandings between such shareholder and each proposed nominee and any other person or persons (including their names) pursuant to which the nomination(s) are to be made by such shareholder; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">6)&nbsp;&nbsp;&nbsp;&nbsp;a representation that such shareholder intends to appear in person or by proxy at the meeting to nominate the
persons named in such shareholder&#146;s notice; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">7)&nbsp;&nbsp;&nbsp;&nbsp;a representation as to whether the shareholder or the
beneficial owner, if any, intends, or is part of a group which intends, to (a)&nbsp;deliver a proxy statement and/or form of proxy to holders of at least the percentage of the Corporation&#146;s outstanding stock required to elect the nominee and/or
(b)&nbsp;otherwise solicit proxies from shareholders in support of such nomination; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:18%; font-size:10pt; font-family:Times New Roman">8)&nbsp;&nbsp;&nbsp;&nbsp;any other information
relating to such shareholder or the beneficial owner, if any, that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors pursuant to
Section&nbsp;14 of the Exchange Act and the rules and regulations promulgated thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice
Requirements for Nomination of a Director Included in Corporation&#146;s Proxy Statement</U>. For nominations to be properly brought before a meeting by a Shareholder pursuant to Article I, Section&nbsp;3(c)(iii) and to be in proper written form,
the shareholder&#146;s notice must provide the information required by Section&nbsp;4 of this Article I and satisfy all other requirements of Section&nbsp;4 of this Article I (the &#147;Nomination Notice&#148;). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice Requirements for Other Shareholder Proposals</U>. To
the extent that the shareholder&#146;s notice relates to a matter other than the nomination of a director, to be in proper written form, a shareholder&#146;s notice to the Secretary must set forth as to each matter such shareholder proposes to bring
before an annual meeting, the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;&nbsp;&nbsp;&nbsp;a brief description of the business desired to be brought before
such meeting and the reasons for conducting such business at such meeting; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;&nbsp;&nbsp;&nbsp;the name and address of such
record shareholder and the beneficial owner, if any, on whose behalf the proposal is made; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(C)&nbsp;&nbsp;&nbsp;&nbsp;the class or
series and number of shares of capital stock of the Corporation which are owned beneficially or of record and any other Derivative Interests owned by the shareholder and the beneficial owner, if any (which information shall be supplemented not later
than ten (10)&nbsp;days after the record date for the meeting to disclose such ownership as of the record date); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(D)&nbsp;&nbsp;&nbsp;&nbsp;the date such shares or Derivative Interests were acquired and the investment intent of such acquisition; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(E)&nbsp;&nbsp;&nbsp;&nbsp;a description of all arrangements or understandings between such shareholder and any other person or persons
(including their names) in connection with the proposal of such business by such shareholder and any material interest of such shareholder in such business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(F)&nbsp;&nbsp;&nbsp;&nbsp;a representation that such shareholder intends to appear in person or by proxy at the meeting to bring such
business before such meeting; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(G)&nbsp;&nbsp;&nbsp;&nbsp;a representation as to whether the shareholder or the beneficial owner, if
any, intends, or is part of a group which intends, to (a)&nbsp;deliver a proxy statement and/or form of proxy to holders of at least the percentage of the Corporation&#146;s outstanding stock required to approve or adopt the proposal and/or
(b)&nbsp;otherwise solicit proxies from shareholders in support of such proposal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing provisions of this Section&nbsp;3, a
shareholder seeking to have a proposal included in the Corporation&#146;s proxy statement shall comply with the requirements of Section&nbsp;14 of the Exchange Act, including, but not limited to,
<FONT STYLE="white-space:nowrap">Rule&nbsp;14a-8</FONT> promulgated thereunder or its successor provision. The Corporation may require any shareholder to furnish such other information as may reasonably be required by the Corporation to determine if
the business shall be properly brought before an annual meeting of the shareholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Director Nominee Questionnaire;
Representation and Agreement Requirement</U>. To be eligible to be a nominee for election or reelection as a director of the Corporation pursuant to Section&nbsp;3(c) of this Article I, each proposed nominee must deliver to the Secretary of the
Corporation </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;a written questionnaire with respect to the background and qualification of such person in the
form provided by the Secretary upon written request (a &#147;Questionnaire&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;a statement of
representations and agreements (a &#147;Statement of Representations and Agreements&#148;) executed by the proposed nominee that he or she: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;&nbsp;&nbsp;&nbsp;is not and will not become a party to any agreement, arrangement or understanding with any person or entity that
has not been disclosed to the Corporation (1)&nbsp;relating to how such proposed nominee will act or vote on any issue in his or her role as a director of the Corporation, (2)&nbsp;that could limit or interfere with such proposed nominee&#146;s
ability to comply with his or her fiduciary duties as a director of the Corporation or (3)&nbsp;with respect to any direct or indirect compensation, reimbursement or indemnification in connection with service as a director; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;&nbsp;&nbsp;&nbsp;has read and agrees, if elected, to adhere to the
Corporation&#146;s Corporate Governance Guidelines and Directors&#146; Code of Conduct and any other Corporation policies and guidelines applicable to directors, including, but not limited to, those relating to corporate governance, conflict of
interest, confidentiality, stock ownership and trading policies; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(C)&nbsp;&nbsp;&nbsp;&nbsp;agrees to be named as a nominee and to serve
as a director if elected; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(D)&nbsp;&nbsp;&nbsp;&nbsp;will, if elected, promptly following any subsequent <FONT
STYLE="white-space:nowrap">re-election</FONT> in which such proposed nominee does not receive the required vote, tender an irrevocable resignation in accordance with Article II, Section&nbsp;5 of these
<FONT STYLE="white-space:nowrap">By-Laws.</FONT> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4&nbsp;&nbsp;&nbsp;&nbsp;<B>Shareholders Nominations Included in the Corporation&#146;s
Proxy Statement </B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Inclusion of Nominee in Proxy Statement</U>. Whenever the Board of Directors solicits proxies with
respect to the election of Directors at an annual meeting of shareholders, subject to the provisions of this Section&nbsp;4, the Corporation shall include in its proxy materials for such annual meeting: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;the names of any persons nominated for election (each, a &#147;Shareholder Nominee&#148;) by any Eligible
Shareholder (as defined below) or group of up to twenty (20)&nbsp;Eligible Shareholders that has (individually or, in the case of a group, each member of the shareholder group) satisfied, as determined by the Board of Directors, acting in good
faith, all applicable conditions and complied with all applicable procedures set forth in this Section&nbsp;4 (such Eligible Shareholder or Eligible Shareholders being a &#147;Nominating Shareholder&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;disclosure about each Shareholder Nominee and Nominating Shareholder required under the rules of the SEC or other
applicable law to be included in the proxy statement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;a Statement (as defined below in Section&nbsp;4(e)) in
support of each of the Shareholder Nominee&#146;s election to the Board of Directors included by the Nominating Shareholder in the Nomination Notice for inclusion in the proxy statement (subject to the Corporation&#146;s rights set forth in
Section&nbsp;4(e)); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;any other information that the Corporation or the Board of Directors determines, in
their discretion, to include in the proxy statement relating to the nomination of the Shareholder Nominee(s), including, without limitation, any statement in opposition to the nomination and any of the information provided pursuant to this
Section&nbsp;4. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Maximum Number of Shareholder Nominees</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;The maximum number of Shareholder Nominees appearing in the Corporation&#146;s proxy materials with respect to an
annual meeting shall not exceed twenty percent (20%) of the number of directors in office as of the last day on which a Nomination Notice may be delivered pursuant to this Section&nbsp;4, or if such amount is not a whole number, the closest whole
number below twenty percent (20%) (the &#147;Maximum Number&#148;); provided, however, that this number shall be reduced by (1)&nbsp;any Shareholder Nominee whose name was submitted by an Eligible Shareholder for inclusion in the Corporation&#146;s
proxy materials pursuant to this Section&nbsp;4 but either is subsequently withdrawn or that the Board of Directors decides to nominate as a Board of Directors nominee and (2)&nbsp;the number of incumbent directors who had been Shareholder Nominees
at any of the preceding two annual meetings and whose election at the upcoming annual meeting is being recommended by the Board of Directors. In the event that one or more vacancies for any reason occurs on the Board of Directors after the deadline
set forth in Section&nbsp;3(d) above but before the date of the annual meeting and the Board of Directors resolves to reduce the size of the board in connection therewith, the Maximum Number shall be calculated based on the number of directors in
office as so reduced. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;Any Eligible Shareholder submitting more than one Shareholder
Nominee for inclusion in the Corporation&#146;s proxy materials pursuant to this Section&nbsp;4 shall rank such Shareholder Nominees based on the order in which the Eligible Shareholder desires such Shareholder Nominees be selected for inclusion in
the Corporation&#146;s proxy materials. If the number of Shareholder Nominees submitted by Eligible Shareholders pursuant to this Section&nbsp;4 exceeds the Maximum Number, the highest ranking Shareholder Nominee who meets the requirements of this
Section&nbsp;4 of each Eligible Shareholder will be selected for inclusion in the Corporation&#146;s proxy materials until the maximum number is reached, going in order by the number (largest to smallest) of shares of common stock of the Corporation
each Eligible Shareholder disclosed as Owned in its respective Nomination Notice. If the Maximum Number is not reached after the highest ranking Shareholder Nominee who meets the requirements of this Section&nbsp;4 of each Eligible Shareholder has
been selected, this process will continue with the next highest ranked nominees as many times as necessary, following the same order each time, until the Maximum Number is reached. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Eligibility of Nominating Shareholder</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;An &#147;Eligible Shareholder&#148; is a person who has either (A)&nbsp;been a record holder of the shares of common
stock used to satisfy the eligibility requirements in this Section&nbsp;4(c) continuously for the three-year period specified in paragraph (ii)&nbsp;below or (B)&nbsp;provides to the Secretary of the Corporation, within the time period referred to
in Section&nbsp;3(d)(i), evidence of continuous Ownership of such shares for such three-year period from one or more securities intermediaries in a form that the Board of Directors or its designee, acting in good faith, determines would be deemed
acceptable for purposes of a shareholder proposal under Rule <FONT STYLE="white-space:nowrap">14a-8(b)(2)</FONT> under the Exchange Act (or any successor rule). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;An Eligible Shareholder or group of up to twenty (20)&nbsp;Eligible Shareholders (an &#147;Eligible Shareholder
Group&#148;) may submit a nomination in accordance with this Section&nbsp;4 only if the person or group (in the aggregate) has continuously Owned at least the Required Shares throughout the three-year period preceding and including the date of
submission of the Nomination Notice, on the record date and continues to Own at least the Required Shares through the date of the annual meeting. For the avoidance of doubt, in the event of a nomination by an Eligible Shareholder Group, any and all
requirements and obligations for an individual Eligible Shareholder that are set forth in this Section&nbsp;5, including the minimum holding period, shall apply to each member of such group; provided, however, that the Required Shares shall apply to
the Ownership of the Eligible Shareholder Group in the aggregate. Should any shareholder cease to satisfy the eligibility requirements in this Section&nbsp;4, as determined by the Board of Directors or its designee, acting in good faith, or withdraw
from an Eligible Shareholder Group at any time prior to the annual meeting of shareholders, the Eligible Shareholder Group shall only be deemed to Own the shares held by the remaining members of the group. For this purpose, two or more funds or
trusts that are (A)&nbsp;under common management and investment control, (B)&nbsp;under common management and funded primarily by the same employer, or (C)&nbsp;a &#147;group of investment companies,&#148; as such term is defined in
Section&nbsp;12(d)(1)(G)(ii) of the Investment Corporation Act of 1940, as amended (each, a &#147;Qualifying Fund&#148;), shall be treated as one shareholder or beneficial owner. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;The &#147;Required Shares&#148; means 3% of the number of
outstanding shares of common stock of the Corporation as of the most recent date for which such amount is given in any filing by the Corporation with the SEC prior to the submission of the Nomination Notice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;For purposes of this Section&nbsp;4, an Eligible Shareholder &#147;Owns&#148; only those outstanding shares of the
Corporation as to which the Eligible Shareholder possesses both: (A)&nbsp;the full voting and investment rights pertaining to the shares and (B)&nbsp;the full economic interest in (including the opportunity for profit and risk of loss on) such
shares; provided, that the number of shares calculated in accordance with clauses (A)&nbsp;and (B) shall not include any shares: (1)&nbsp;sold by such Eligible Shareholder or any of its affiliates in any transaction that has not been settled or
closed, (2)&nbsp;borrowed by such Eligible Shareholder or any of its affiliates for any purpose or purchased by such Eligible Shareholder or any of its affiliates pursuant to an agreement to resell, or (3)&nbsp;subject to any option, warrant,
forward contract, swap, contract of sale, other derivative or similar agreement entered into by such Eligible Shareholder or any of its affiliates, whether any such instrument or agreement is to be settled with shares or with cash based on the
notional amount or value of outstanding shares of the Corporation, in any such case which instrument or agreement has, or is intended to have, the purpose or effect of: (x)&nbsp;reducing in any manner, to any extent or at any time in the future,
such Eligible Shareholder&#146;s or any of its affiliates&#146; full right to vote or direct the voting of any such shares, and/or (y)&nbsp;hedging, offsetting, or altering to any degree, gain or loss arising from the full economic ownership of such
shares by such Eligible Shareholder or any of its affiliates. An Eligible Shareholder &#147;owns&#148; shares held in the name of a nominee or other intermediary so long as the Eligible Shareholder retains the right to instruct how the shares are
voted with respect to the election of directors and possesses the full economic interest in the shares. An Eligible Shareholder&#146;s ownership of shares shall be deemed to continue during any period in which the Eligible Shareholder has delegated
any voting power by means of a proxy, power of attorney, or other similar instrument or arrangement that is revocable at any time by the Eligible Shareholder. An Eligible Shareholder&#146;s ownership of shares shall be deemed to continue during any
period in which the Eligible Shareholder has loaned such shares provided that the Eligible Shareholder has the power to recall such loaned shares on three business days&#146; notice and has recalled such shares upon notification that it&#146;s
nominees would be included in the proxy statement. The terms &#147;Owned,&#148; &#147;Owning&#148; and other variations of the word &#147;Own&#148; shall have correlative meanings. Whether outstanding shares of the Corporation are &#147;Owned&#148;
for these purposes shall be determined by the Board of Directors or its designee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;No person shall be permitted
to be in more than one Eligible Shareholder Group, and if any person appears as a member of more than one Eligible Shareholder Group, it shall be deemed to be a member of the Eligible Shareholder Group that has the largest ownership position as
reflected in the Nomination Notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Information to be Provided by Nominating Shareholder</U>. Within the time period
specified in Section&nbsp;3(d)(i), each Nominating Shareholder must provide the following information in writing to the Secretary of the Corporation: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;a copy of the Schedule 14N that has been filed by such Eligible Shareholder with the Securities and Exchange
Commission as required by Rule <FONT STYLE="white-space:nowrap">14a-18</FONT> under the 1934 Act, as such rule may be amended; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;one or more written statements from the record holder of the shares of capital stock of the Corporation (and from
each intermediary through which the shares are or have been held during the requisite three (3)-year holding period) specifying the number of shares of capital stock of the Corporation that the Nominating Shareholder Owns, and has continuously Owned
for three (3)&nbsp;years preceding the date of the Nomination Notice, and the Nominating Shareholder&#146;s agreement to provide, within five (5)&nbsp;business days after the record date for the annual meeting, written statements from the record
holder and intermediaries verifying the Eligible Shareholder&#146;s continuous Ownership of the Required Shares through the record date; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;a written notice by each Nominating Shareholder (including each
member of an Eligible Shareholder Group), including the information required with respect to the nomination of directors pursuant to Section&nbsp;3(d)(ii) of this Article I; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;a written notice by each Nominating Shareholder (including each member of an Eligible Shareholder Group), in a
form deemed satisfactory by the Board of Directors or its designee, acting in good faith, in which each the Nominating Shareholder represents and warrants to the Corporation the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;&nbsp;&nbsp;&nbsp;that the Nominating Shareholder acquired the securities of the Corporation in the ordinary course of business and
did not acquire, and is not holding, securities of the Corporation for the purpose or with the effect of influencing or changing control of the Corporation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;&nbsp;&nbsp;&nbsp;that the Shareholder Nominee&#146;s candidacy or, if elected, Board membership would not violate applicable state
or federal law or the rules of any national securities exchange on which the Corporation&#146;s securities are traded; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(C)&nbsp;&nbsp;&nbsp;&nbsp;that the Shareholder Nominee: (A)&nbsp;does not have any direct or indirect relationship with the Corporation that
will cause the Shareholder Nominee to be deemed not independent pursuant to the Corporation&#146;s Corporate Governance Guidelines as most recently published on its website prior to the submission of the Nomination Notice and otherwise qualifies as
independent under the rules of any national securities exchange on which the Corporation&#146;s shares of common stock are traded; (B)&nbsp;is a <FONT STYLE="white-space:nowrap">&#147;non-employee</FONT> director&#148; for the purposes of Rule <FONT
STYLE="white-space:nowrap">16b-3</FONT> under the Exchange Act (or any successor rule); (C) is an &#147;outside director&#148; for the purposes of Section&nbsp;162(m) of the Internal Revenue Code (or any successor provision); and (D)&nbsp;is not and
has not been subject to any event specified in Rule 506(d)(1) of Regulation D (or any successor rule) under the Securities Act of 1933 or Item 401(f) of Regulation <FONT STYLE="white-space:nowrap">S-K</FONT> (or any successor rule) under the
Exchange Act, without reference to whether the event is material to an evaluation of the ability or integrity of the Shareholder Nominee; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(D)&nbsp;&nbsp;&nbsp;&nbsp;that the Nominating Shareholder satisfies the eligibility requirements set forth in Section&nbsp;4(c) and has
provided evidence of ownership to the extent required by Section&nbsp;4(c)(i) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(E)&nbsp;&nbsp;&nbsp;&nbsp;that the Nominating Shareholder
agrees to Own the Required Shares through the date of the annual meeting and satisfy the eligibility requirements described in Section&nbsp;4(c) through the date of the annual meeting; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(F)&nbsp;&nbsp;&nbsp;&nbsp;that the Nominating Shareholder has not engaged and will not engage in, and has not and will not be a
&#147;participant&#148; in another person&#146;s, &#147;solicitation&#148; within the meaning of Rule <FONT STYLE="white-space:nowrap">14a-1(l)</FONT> under the 1934 Act in support of the election of any individual as a director at the annual
meeting other than its Shareholder Nominee or a nominee of the Board of Directors; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(G)&nbsp;&nbsp;&nbsp;&nbsp;that the Nominating
Shareholder will not use any proxy card other than the Corporation&#146;s proxy card in soliciting shareholders in connection with the election of a Shareholder Nominee at the annual meeting; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(H)&nbsp;&nbsp;&nbsp;&nbsp;that the facts, statements and other information in all
communications with the Corporation and its shareholders are and will be true and correct in all material respects and do not and will not omit to state a material fact necessary in order to make the statements made, in light of the circumstances
under which they were made, not misleading, and will otherwise comply with all applicable laws, rules and regulations in connection with any actions taken pursuant to this Section&nbsp;4; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(I)&nbsp;&nbsp;&nbsp;&nbsp;in the case of a nomination by an Eligible Shareholder Group, the designation by all group members of one group
member that is authorized to act on behalf of all group members with respect to matters relating to the nomination, including withdrawal of the nomination; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;an executed agreement, in a form deemed satisfactory by the Board of Directors or its designee, acting in good
faith, pursuant to which the Nominating Shareholder (including each group member) agrees: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;&nbsp;&nbsp;&nbsp;to comply with all
applicable laws, rules and regulations in connection with the nomination, solicitation and election; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;&nbsp;&nbsp;&nbsp;to file
any written communication with the Corporation&#146;s shareholders relating to one or more of the Corporation&#146;s directors or director nominees or any Shareholder Nominee with the SEC, regardless of whether any such filing is required under any
rule or regulation or whether any exemption from filing is available for such materials under any rule or regulation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(C)&nbsp;&nbsp;&nbsp;&nbsp;to assume all liability stemming from an action, suit or proceeding concerning any actual or alleged legal or
regulatory violation arising out of any communication by the Nominating Shareholder or any of its Shareholder Nominees with the Corporation, its shareholders or any other person in connection with the nomination or election of directors, including,
without limitation, the Nomination Notice; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(D)&nbsp;&nbsp;&nbsp;&nbsp;to indemnify and hold harmless (jointly with all other group
members, in the case of a group member) the Corporation and each of its directors, officers and employees individually against any liability, loss, damages, expenses or other costs (including attorneys&#146; fees) incurred in connection with any
threatened or pending action, suit or proceeding, whether legal, administrative or investigative, against the Corporation or any of its directors, officers or employees arising out of or relating to a failure or alleged failure of the Nominating
Shareholder or any of its Shareholder Nominees to comply with, or any breach or alleged breach of, its respective obligations, agreements or representations under this Section&nbsp;4; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(E)&nbsp;&nbsp;&nbsp;&nbsp;in the event that any information included in the Nomination Notice ceases to be true and accurate in all material
respects (or omits a material fact necessary to make the statements made not misleading), or that the Nominating Shareholder (including any group member) has failed to continue to satisfy the eligibility requirements described in Section&nbsp;4(c),
to promptly notify the Corporation of the misstatement or omission in such previously provided information and of the information that is required to correct the misstatement or omission (it being understood that providing any such notification
shall not be deemed to cure any such defect or limit the Corporation&#146;s right to omit a Shareholder Nominee from its proxy materials pursuant to this Section&nbsp;4); and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations and Agreement of the Shareholder Nominee</U>. Within the time
period specified in Section&nbsp;3(d)(i), each Shareholder Nominee must deliver to the Secretary of the Corporation the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;a completed Questionnaire and Statement of Representations and Agreements as set forth in Section&nbsp;3(e) of
Article I; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp; a letter of resignation signed by the Shareholder Nominee, which letter shall specify that
such Shareholder Nominee&#146;s resignation is irrevocable and that it shall become effective upon a determination by the Board of Directors or any committee thereof (excluding, for purposes of such determination, such Shareholder Nominee) that
(x)&nbsp;any of the information provided to the Corporation by the Eligible Shareholder or the Shareholder Nominee in respect of the nomination of such Shareholder Nominee pursuant to this Section&nbsp;4 is or was untrue in any material respect or
omitted to state a material fact necessary in order to make the statement made, in light of the circumstances under which it was made, not misleading or (y)&nbsp;the Eligible Shareholder shall have breached any of its obligations under this
Section&nbsp;4. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;<U>Statement</U>. In addition to the items required pursuant to Section&nbsp;4(d) of this Article I, the
Eligible Shareholder may provide to the Secretary of the Corporation, at the time the information required by this Section&nbsp;4 is provided, a written statement for inclusion in the Corporation&#146;s proxy statement for the annual meeting, not to
exceed five hundred (500)&nbsp;words, in support of the Shareholder Nominee&#146;s candidacy (the &#147;Statement&#148;). Notwithstanding anything to the contrary contained in this Section&nbsp;4, the Corporation may omit from its proxy materials
any information or Statement (or portion thereof) that it, in good faith, believes would violate any applicable law, rule, regulation or listing standard. Nothing in this Section&nbsp;4 shall limit the Corporation&#146;s ability to solicit against
and include in its proxy materials its own statements relating to any Eligible Shareholder or Shareholder Nominees. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitation on Shareholder Nominees</U>. Any Shareholder Nominee who is included in the Corporation&#146;s proxy materials for a
particular annual meeting but either (i)&nbsp;withdraws from or becomes ineligible or unavailable for election at such annual meeting, or (ii)&nbsp;does not receive at least twenty five percent (25%) of the votes cast &#147;for&#148; the Shareholder
Nominee&#146;s election, will be ineligible to be a Shareholder Nominee pursuant to this Section&nbsp;4 for the next two (2)&nbsp;annual meetings. Any Shareholder Nominee who is included in the Corporation&#146;s proxy materials for a particular
annual meeting, but subsequently is determined not to satisfy the eligibility requirements of this Section&nbsp;4 or any other provision of the Corporation&#146;s <FONT STYLE="white-space:nowrap">By-laws,</FONT> Certificate of Incorporation,
Corporate Governance Guidelines or other applicable regulation at any time before the applicable annual meeting, will not be eligible for election at such annual meeting and may not be replaced by the Eligible Shareholder that nominated such
Shareholder Nominee. If, after the deadline for submitting a Nomination Notice, a Nominating Shareholder ceases to satisfy, as determined by the Board of Directors or its designee, acting in good faith, the eligibility requirements in this
Section&nbsp;4 or withdraws its nomination or a Shareholder Nominee ceases to satisfy the eligibility requirements in this Section&nbsp;4, as determined by the Board of Directors or its designee, acting in good faith, or becomes unwilling to serve
on the Board of Directors, whether before or after the mailing of the definitive proxy statement, then the nomination shall be disregarded, and the Corporation (1)&nbsp;shall not be required to include in its proxy statement or on any ballot or form
of proxy the disregarded Shareholder Nominee or any successor or replacement nominee proposed by the applicable Nominating Shareholder or by any other Nominating Shareholder and (2)&nbsp;may otherwise communicate to its shareholders, including
without limitation by amending or supplementing its proxy statement or ballot or form of proxy, that the Shareholder Nominee will not be included as a Shareholder Nominee in the proxy statement or on any ballot or form of proxy and will not be voted
on at the annual meeting. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(h)&nbsp;&nbsp;&nbsp;&nbsp;<U>Exceptions</U>. Notwithstanding anything to the contrary in this
Section&nbsp;4, the Corporation may omit from its proxy statement any Shareholder Nominee and any information concerning such Shareholder Nominee (including a Nominating Shareholder&#146;s Statement) and no vote on such Shareholder Nominee will
occur (notwithstanding that proxies in respect of such vote may have been received by the Corporation), and the Nominating Shareholder may not, after the last day on which a Nomination Notice would be timely, cure in any way any defect preventing
the nomination of the Shareholder Nominee, if: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;if the Eligible Shareholder who has nominated such Shareholder
Nominee has engaged in or is currently engaged in, or has been or is a &#147;participant&#148; in another person&#146;s, &#147;solicitation&#148; within the meaning of Rule <FONT STYLE="white-space:nowrap">14a-1(l)</FONT> under the 1934 Act in
support of the election of any individual as a director at the meeting other than its Shareholder Nominee(s) or a nominee of the Board of Directors; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;if the Shareholder Nominee is not independent under the Applicable Independence Standards, as determined by the
Board of Directors; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;if the Shareholder Nominee&#146;s nomination or election as a member of the Board of
Directors would cause the Corporation to be in violation of these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> the Certificate of Incorporation, the listing standards of the principal exchange upon which the Corporation&#146;s shares of common
stock are traded, or any applicable law, rule or regulation; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;if the Shareholder Nominee is or has been,
within the past three years, an employee or director of a competitor, as defined in Section&nbsp;8 of the Clayton Antitrust Act of 1914; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(v)&nbsp;&nbsp;&nbsp;&nbsp;if the Shareholder Nominee is, or becomes prior to the annual meeting, a named subject of a pending criminal
proceeding (excluding traffic violations and other minor offenses) or has been convicted in such a criminal proceeding within the past ten (10)&nbsp;years; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(vi)&nbsp;&nbsp;&nbsp;&nbsp;if the Shareholder Nominee is or becomes subject to any order of the type specified in Rule 506(d) of Regulation D
promulgated under the Securities Act of 1933, as amended; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(vii)&nbsp;&nbsp;&nbsp;&nbsp;if any information provided by the Shareholder
Nominee or any Nominating Shareholder to the Corporation was untrue in any material respect or omitted to state a material fact necessary in order to make the statement made, in light of the circumstances under which it was made, not misleading, as
determined by the Board of Directors; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(viii)&nbsp;&nbsp;&nbsp;&nbsp;if the Eligible Shareholder or applicable Shareholder Nominee
otherwise contravenes any of the agreements or representations made by such Eligible Shareholder or Shareholder Nominee or fails to comply with its obligations pursuant to this Section&nbsp;4; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ix)&nbsp;&nbsp;&nbsp;&nbsp;if the Eligible Shareholder ceases to be an Eligible Shareholder for any reason, including but not limited to not
Owning the Required Shares through the date of the applicable annual meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;<U>Exclusion</U>. Notwithstanding anything to
the contrary set forth herein, if the Corporation (A)&nbsp;receives notice pursuant to Section&nbsp;3(c)(ii) that any shareholder intends to nominate any nominee for election at such meeting, or (B)&nbsp;has entered into, or will enter into, an
agreement or other arrangement with one or more shareholder(s) to avoid any person being formally proposed as a director candidate pursuant to Article I, Section&nbsp;3(c)(ii) of these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> no Shareholder
Nominees will be included in the Corporation&#146;s proxy materials with respect to such meeting pursuant to this Section&nbsp;4. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(j)&nbsp;&nbsp;&nbsp;&nbsp;<U>Disqualifications</U>. Notwithstanding anything to the contrary set forth
herein, the Board of Directors or the person presiding at the meeting shall declare a nomination by an Eligible Shareholder to be invalid, and such nomination shall be disregarded notwithstanding that proxies in respect of such vote may have been
received by the Corporation, if (i)&nbsp;the Shareholder Nominee(s) and/or the applicable Eligible Shareholder shall have breached its or their obligations, agreements or representations under this Section&nbsp;4, as determined by the Board of
Directors or the person presiding at the annual meeting, or (ii)&nbsp;the Eligible Shareholder (or a qualified representative thereof) does not appear at the annual meeting to present any nomination pursuant to this Section&nbsp;4. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(k)&nbsp;&nbsp;&nbsp;&nbsp;<U>Filing Obligation</U>. The Eligible Shareholder (including any person who Owns shares of common stock of the Corporation that
constitute part of the Eligible Shareholder&#146;s Ownership for purposes of satisfying Section&nbsp;4(e) hereof) shall file with the Securities and Exchange Commission any solicitation or other communication with the Corporation&#146;s shareholders
relating to the meeting at which the Shareholder Nominee will be nominated, regardless of whether any such filing is required under Regulation 14A of the 1934 Act or whether any exemption from filing is available for such solicitation or other
communication under Regulation 14A of the 1934 Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5&nbsp;&nbsp;&nbsp;&nbsp;<B>Quorum</B>. At all meetings of the shareholders of the
Corporation, the holders of a majority of the shares of capital stock of the Corporation entitled to vote at such meeting, present in person or by proxy, shall constitute a quorum for the transaction of any business except as otherwise provided by
law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6&nbsp;&nbsp;&nbsp;&nbsp;<B>Organization; Adjournment</B>. The Board of Directors may prescribe an order of business for meetings of
shareholders. The Chair of the Board, or in his or her absence, the Chief Executive Officer, if then a separate officer, shall preside at meetings of the shareholders; provided, however, that the Board of Directors may for any meeting of
shareholders designate another officer or officers to preside. If a quorum, determined in accordance with Article&nbsp;I, Section&nbsp;5 of these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> shall not be present or represented at any meeting of
the shareholders, the chair of the meeting, or if so requested by the chair, the shareholders present in person or represented by proxy, shall have the power to adjourn the meeting from time to time, without notice other than announcement at the
meeting, until a quorum shall be present or represented. In addition, the chair of any meeting of shareholders shall have the power to adjourn the meeting at the request of the Board of Directors if the Board of Directors determines that adjournment
is necessary or appropriate to enable shareholders to consider fully the information which the Board of Directors determines has not been made sufficiently or timely available to shareholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7&nbsp;&nbsp;&nbsp;&nbsp;<B>Voting</B>. At each meeting of the shareholders every shareholder of record of the Corporation entitled to vote at
such meeting shall be entitled to one vote for each share of Common Stock standing in his or her name on the books of the Corporation; provided, however, that the Board of Directors may fix, in advance, a date not more than sixty (60)&nbsp;nor less
than ten (10)&nbsp;days prior to the date of such meeting as the date as of which shareholders entitled to notice of, and to vote at, such meeting shall be determined, and in case the Board of Directors shall fix a date, only shareholders of record
on such date shall be entitled to notice of, and to vote at, such meeting. At any meeting of shareholders each shareholder having the right to vote shall be entitled to vote in person or by proxy. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Except with respect to the election of directors, which shall be governed by Article II, Section&nbsp;3 of these
<FONT STYLE="white-space:nowrap">By-Laws,</FONT> and except as otherwise provided by law, in the Certificate of Incorporation or these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> all matters will be determined by the vote of the holders of a
majority of the votes cast in favor or against the matter. Abstentions and broker <FONT STYLE="white-space:nowrap">non-votes</FONT> will not count as a vote cast. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8&nbsp;&nbsp;&nbsp;&nbsp;<B>Inspectors of Election</B>. At any meeting of the shareholders, an inspector or inspectors of election may be
appointed as provided in the Business Corporation Law and shall have duties as provided in the Business Corporation Law. An inspector of election need not be a shareholder of the Corporation, and any officer of the Corporation may be an inspector of
election on any question other than a vote for or against his or her election to any position with the Corporation or any other question in which he or she may be directly interested. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE II </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BOARD OF DIRECTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;<B>General Powers</B>. Except as otherwise provided in these <FONT STYLE="white-space:nowrap">By-Laws</FONT> or in the
Certificate of Incorporation, the property, business and affairs of the Corporation shall be managed by the Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2&nbsp;&nbsp;&nbsp;&nbsp;<B>Number and Term</B>. Subject to Article II, Section&nbsp;14, the number of directors shall be thirteen (13)&nbsp;but
the number thereof may, from time to time, be diminished to not less than six (6)&nbsp;by amendment of these <FONT STYLE="white-space:nowrap">By-Laws.</FONT> As used in these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> the term &#147;entire
Board of Directors&#148; shall mean the total number of directors which the Corporation would have at the time if there were no vacancies. Directors shall be elected to serve until the next annual meeting or until his or her successor shall be duly
elected and qualified. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3&nbsp;&nbsp;&nbsp;&nbsp;<B> Election of Directors. </B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At each meeting of the shareholders for the election of directors at which a quorum is present, the vote required for election of a director by the
shareholders shall, except in a Contested Election, be the affirmative vote of a majority of the votes cast &#147;for&#148; the election of a nominee. For purposes of this Section&nbsp;3, the affirmative vote of a majority of the votes cast shall
mean that the number of votes cast &#147;for&#148; a nominee&#146;s election exceeds the number of votes cast &#147;against&#148; that nominee&#146;s election. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In a Contested Election, the persons receiving a plurality of the votes cast by the holders of shares of capital stock entitled to vote at such meeting shall
be the directors. A &#147;Contested Election&#148; means an election where, as of the record date for such meeting in which the election will be held, there are more nominees for election than positions on the Board of Directors to be filled by
election at the meeting; provided that with respect to any nominee proposed or nominated by a shareholder, the Secretary of the Corporation shall have received proper notice under Article I, Section&nbsp;3 of these
<FONT STYLE="white-space:nowrap">By-Laws.</FONT> For purposes of this Section&nbsp;3, if plurality voting is applicable to the election of directors at any meeting, the nominees who receive the highest number of votes cast &#147;for,&#148; without
regard to votes cast &#147;against&#148; or &#147;withhold,&#148; shall be elected as directors up to the total number of directors to be elected at that meeting. Abstentions and broker <FONT STYLE="white-space:nowrap">non-votes</FONT> will not
count as a vote cast with respect to any election of directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4&nbsp;&nbsp;&nbsp;&nbsp;<B>Organization</B>. The Board of Directors may
choose one of their number as Chair of the Board. At each meeting of the Board of Directors, the Chair of the Board, or, if there shall be no Chair of the Board or if he or she shall be absent, the Chief Executive Officer of the Corporation, or in
case of his or her absence, the Lead Director, or in case of his or her absence, a chair who shall be any director chosen by a majority of the directors present thereat, shall act as chair of such meeting and preside thereat. The Secretary of the
Corporation, or in the case of his or her absence, any person whom the chair shall appoint secretary of such meeting, shall act as secretary of such meeting and keep the minutes thereof. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5&nbsp;&nbsp;&nbsp;&nbsp;<B>Resignations. </B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Any director of the Corporation may resign at any time by giving written notice of his or her resignation to the Board of Directors,
the Chief Executive Officer or the Secretary of the Corporation. Subject to Section&nbsp;5(b), any such resignation shall take effect at the time specified therein or, if the time when the resignation shall become effective is not specified therein,
then it shall take effect immediately upon its receipt by such Board of Directors, Chief Executive Officer or Secretary; and, unless otherwise specified therein or as otherwise required by the Corporation&#146;s corporate governance policies, the
acceptance of such resignation shall not be necessary to make it effective. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;In an election of directors that is not contested, any incumbent director nominee
who is not <FONT STYLE="white-space:nowrap">re-elected</FONT> by the shareholders shall immediately tender his or her resignation to the Chair of the Nominating and Governance Committee, subject to acceptance or rejection by the Board of Directors
as provided in this Section&nbsp;5(b). The Nominating and Governance Committee shall consider the resignation offer and make a recommendation to the Board of Directors. The Board of Directors (excluding the subject director), in accordance with the
procedures established by the Board of Directors, shall decide whether to act on the Nominating and Governance Committee&#146;s recommendation within ninety (90)&nbsp;days after the date the results of the election are certified and the Corporation
shall promptly disclose and explain such decision in a document furnished or filed with the SEC. An incumbent director who tenders his or her resignation in accordance with this Section&nbsp;5(b) will not participate in the deliberations by the
Nominating and Governance Committee or Board of Directors with respect to such resignation. If the Board of Directors does not accept the incumbent director&#146;s resignation, he or she shall continue to serve until the next annual meeting of
shareholders and until his or her successor is elected and qualified. If the Board of Directors accepts the resignation, or if the nominee who failed to receive the required vote is not an incumbent director, the Board of Directors may fill the
resulting vacancy or decrease the size of the Board of Directors in accordance with these <FONT STYLE="white-space:nowrap">By-Laws.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6&nbsp;&nbsp;&nbsp;&nbsp;<B>Vacancies</B>. Except as provided in Article II, Section&nbsp;14, vacancies occurring in the Board of Directors for
any reason, except the removal of directors without cause by the shareholders, may be filled by the affirmative vote of at least <FONT STYLE="white-space:nowrap">two-thirds</FONT> (2/3) of the whole Board of Directors. A director elected to fill a
vacancy shall be elected to hold office for the unexpired term of his or her predecessor. Newly-created directorships resulting from an increase in the number of directors may be filled by the vote of a majority of the directors then in office,
although less than a quorum exists. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7&nbsp;&nbsp;&nbsp;&nbsp;<B>Annual Organization Meeting</B>. After each annual election of directors,
the Board of Directors may hold a regular meeting for the purpose of organization and the transaction of other business as soon as practicable on the same day, at the place where other regular meetings of the Board of Directors are held. Notice of
such meeting need not be given. Such meeting may be held at any other time or place which shall be specified in a notice given as hereinafter provided for special meetings of the Board of Directors or in a consent and waiver of notice thereof signed
by all the directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8&nbsp;&nbsp;&nbsp;&nbsp;<B>Regular Meetings</B>. Regular meetings of the Board of Directors shall be held at such
times and at such places within or without the State of New York or the United States as the Board of Directors shall from time to time determine. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9&nbsp;&nbsp;&nbsp;&nbsp;<B>Special Meetings; Notice</B>. Special meetings of the Board of Directors shall be held whenever called by the Chair
of the Board, the Lead Director, the Chief Executive Officer of the Corporation, or by any two (2)&nbsp;of the directors at the time in office. A notice of each such special meeting stating the time and place thereof shall be given as provided in
this Section&nbsp;9. Except as otherwise provided by law, notice of each meeting shall be given by first class mail, telephone, overnight delivery, electronic mail, facsimile or hand delivery to each director, at his or her residence or usual place
of business at least forty-eight (48)&nbsp;hours before the meeting is to be held. Notice of any meeting of the Board of Directors need not, however, be given to any director, if waived by him or her in writing before or after the meeting or if he
or she shall attend the meeting without protesting, prior thereto or at its commencement, the lack of notice to him or her. Neither notices of a meeting nor a waiver of notice need specify the purpose of any regular or special meeting of the Board
of Directors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10&nbsp;&nbsp;&nbsp;&nbsp;<B>Quorum and Manner of Acting. </B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Quorum</U>. A majority of the entire Board of Directors shall be present in person at any meeting of the Board of Directors in
order to constitute a quorum for the transaction of business at such meeting and, except as otherwise specifically provided by the Certificate of Incorporation, these <FONT STYLE="white-space:nowrap">By-Laws</FONT> or by law, the act of a majority
of the directors present at any such meeting, at which a quorum is present, shall be the act of the Board of Directors. In the absence of a quorum for any meeting, a majority of the directors present thereat may adjourn such meeting from time to
time until a quorum shall be present thereat. Notice of any adjourned meeting need not be given. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Telephone Meetings</U>.
Unless otherwise restricted by the Certificate of Incorporation or these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> any one or more members of the Board of Directors or any committee thereof may participate in a meeting of the Board of
Directors or committee by means of a conference telephone, video conference or similar communications equipment allowing all persons participating in the meeting to hear each other at the same time. Participation by such means shall constitute
presence in person at a meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Action By Written Consent</U>. Any action required or permitted to be taken by the Board
of Directors may be taken without a meeting, provided that all Board members individually provide written consent to that action (which may include consent by electronic means); and provided further that if such consent is effected by electronic
means, such consent shall include a description of the action being taken and the typed name of the director, which shall constitute the legally binding electronic signature of the director. Such action by written consent will have the same force
and effect as a unanimous vote of the Board of Directors. Such written consent and any counterparts thereof will be filed with the minutes of the proceedings of the Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11&nbsp;&nbsp;&nbsp;&nbsp;<B>Committees</B>. By the affirmative vote of a majority of the entire Board of Directors, the Board of Directors may
designate from among its members an Executive Committee, an Audit Committee, a Compensation Committee, a Nominating and Governance Committee and other committees, each consisting of one or more members. If an Executive Committee is created, the
Chair of the Board and the Lead Director, if any, shall be members. The Executive Committee will have all the authority of the Board of Directors except as otherwise provided by Section&nbsp;712 of the Business Corporation Law or other applicable
statutes. Any other committees will have such authority as the Board of Directors may provide. The Board of Directors may designate one or more directors as alternate members of any committee to replace absent members. Subject to Article II,
Section&nbsp;14, the members of all committees shall be selected by and removed by the Board of Directors. Such committees may meet at stated times or, in accordance with their charters, upon notice to all the members of the committee. Each
committee shall keep regular minutes of its proceedings and report the same to the Board of Directors when required. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12&nbsp;&nbsp;&nbsp;&nbsp;<B>Removal</B>. Any director may be removed with cause by the affirmative vote of at least <FONT
STYLE="white-space:nowrap">two-thirds</FONT> of the entire Board of Directors or with or without cause by vote of the shareholders at a regular or special meeting, subject to the provisions of the Business Corporation Law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13&nbsp;&nbsp;&nbsp;&nbsp;<B>Compensation</B>. The directors and the members of any committee
of the Board of Directors of the Corporation shall be entitled to be reimbursed for any expenses, including all travel expenses, incurred by them on account of their attendance at any regular or special meeting of the Board of Directors or of such
committee, and the Board of Directors may at any time or from time to time by resolution provide that the Corporation shall pay each such director or member of such committee such compensation for his or her services as may be specified in such
resolution. Nothing in this Section&nbsp;13 shall be construed to preclude any director from serving the Corporation in any other capacity and receiving compensation therefore. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14&nbsp;&nbsp;&nbsp;&nbsp;<B>Special Governance Matters. </B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Number</U>. As of the Effective Time (as defined below) on February&nbsp;1, 2021, and until the election of directors at the
Corporation&#146;s 2022 annual meeting, the Board of Directors shall consist of thirteen (13)&nbsp;directors. As of the election of directors at the Corporation&#146;s 2022 annual meeting, the Board of Directors shall consist of twelve
(12)&nbsp;directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Board Composition</U>. As of the Effective Time on February&nbsp;1, 2021, the thirteen
(13)&nbsp;directors shall consist of (i)&nbsp;six (6) directors designated by the board of directors of DuPont de Nemours, Inc. (&#147;DuPont&#148;), which shall include Edward D. Breen (collectively, the &#147;DuPont Designees&#148;), and
(ii)&nbsp;seven (7) directors designated by the Board of Directors of the Corporation as of immediately prior to the Effective Time and who were members of the Board of Directors immediately prior to the Effective Time, which shall include Andreas
Fibig as Chair (collectively, the &#147;IFF Designees&#148;). For purposes of this Article II in these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> the term &#147;Effective Time&#148; shall have the meaning set forth in that certain Agreement
and Plan of Merger (the &#147;Merger Agreement&#148;) dated as of December&nbsp;15, 2019, by and among DuPont, Nutrition&nbsp;&amp; Biosciences, Inc., the Corporation, and Neptune Merger Sub I Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Nomination</U>. The Board of Directors shall nominate for election to the Board of Directors at the Corporation&#146;s 2021
annual meeting (i)&nbsp;the six (6)&nbsp;DuPont Designees (or any replacements thereof pursuant to Article II, Section&nbsp;14(d)) and (ii)&nbsp;the seven (7)&nbsp;IFF Designees (or any replacements thereof pursuant to Article II,
Section&nbsp;14(d)). The Board of Directors shall nominate for election to the Board of Directors at the Corporation&#146;s 2022 annual meeting (i)&nbsp;the six (6)&nbsp;DuPont Designees (or any replacements thereof pursuant to Article II,
Section&nbsp;14(d)) and (ii)&nbsp;six (6) IFF Designees (or any replacements thereof pursuant to Article II, Section&nbsp;14(d)). The Board of Directors shall not nominate for election at such meeting more than twelve (12)&nbsp;directors in total.
The IFF Designees shall be entitled to determine which of the seven (7)&nbsp;IFF Designees (or any replacements thereof pursuant to Article II, Section&nbsp;14(d)) will not stand for election at the Corporation&#146;s 2022 annual meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Vacancies</U>. Until the Corporation&#146;s 2022 annual meeting: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;if there is a vacancy created by cessation of service of any DuPont Designee (whether as a result of illness,
death, resignation, removal or any other reason, but in each case, except as provided in clause (d)(iii) below), such vacancy shall be filled by the affirmative vote of a majority of the remaining DuPont Designees then in office, even if less than a
quorum, or by a sole remaining DuPont Designee (any such replacement, a &#147;Continuing DuPont Designee&#148;); and if there is a vacancy created by cessation of service of any Continuing DuPont Designee (whether as a result of illness, death,
resignation, removal or any other reason, but in each case, except as provided in clause (d)(iii) below), such vacancy shall be filled by the affirmative vote of a majority of the remaining DuPont Designees and/or Continuing DuPont Designee, as
applicable, then in office, even if less than a quorum, or by a sole remaining DuPont Designee and/or Continuing DuPont Designee, as applicable; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;if there is a vacancy created by cessation of service of any IFF
Designee (whether as a result of illness, death, resignation, removal or any other reason, but in each case, except as provided in clause (d)(iii) below), such vacancy shall be filled by the affirmative vote of a majority of the remaining IFF
Designees then in office, even if less than a quorum, or by a sole remaining IFF Designee (any such replacement, a &#147;Continuing IFF Designee&#148;); and if there is a vacancy created by cessation of service of any Continuing IFF Designee
(whether as a result of illness, death, resignation, removal or any other reason, but in each case, except as provided in clause (d)(iii) below), such vacancy shall be filled by the affirmative vote of a majority of the remaining IFF Designees
and/or Continuing IFF Designees, as applicable, then in office, even if less than a quorum, or by a sole remaining IFF Designee and/or Continuing IFF Designee, as applicable; provided that the identity of each Continuing IFF Designee shall be
reasonably acceptable to the Board of Directors; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;notwithstanding the foregoing, if there is a vacancy
created by the removal of a director without cause by the shareholders, any person nominated by the Board of Directors for election by the shareholders to fill such vacancy shall be selected: (A)&nbsp;if such director was a DuPont Designee or
Continuing DuPont Designee, by the remaining DuPont Designees and/or Continuing DuPont Designees, as applicable; and (b)&nbsp;if such director was an IFF Designee or a Continuing IFF Designee, by the remaining IFF Designees and/or Continuing IFF
Designees, as applicable; provided that in no event will the person nominated to fill such vacancy be the director who was so removed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations</U>. Until the 2022 annual meeting of the Corporation, no more than one DuPont Designee or Continuing DuPont
Designee shall be a member of DuPont&#146;s board of directors and each DuPont Designee and Continuing DuPont Designee shall qualify as an independent director under the rules and regulations governing the requirements of the companies listed on the
New York Stock Exchange. For the avoidance of doubt, in the event any DuPont Designee or Continuing DuPont Designee discontinues their service as a director of the Corporation, or is otherwise unable to stand for election as a director of the
Corporation, in connection with the pervious sentence, such vacancy shall be filled in accordance with Article II, Section&nbsp;14(d). In the event any vacancy is to be filled pursuant to Article II, Section&nbsp;14(d), the identify of such person
selected to fill such vacancy shall be reasonably acceptable to the Board of Directors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;<U>Committees</U>. At the Effective
Time, at least one DuPont Designee or Continuing DuPont Designee, as applicable, shall be appointed to serve on each committee of the Board of Directors, subject in all events to the requirements of applicable law. At least one DuPont Designee or
Continuing DuPont Designee, as applicable, shall serve on each committee of the Board of Directors, subject in all events to the requirements of applicable law, until the end of the terms of the directors elected at the 2022 annual meeting of the
Corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;<U>Lead Director</U>. Upon the earlier of (i)&nbsp;the 2021 annual meeting of the Corporation and
(ii)&nbsp;June&nbsp;1, 2021, Edward D. Breen shall become the Lead Director of the Corporation, with the rights and duties set forth in the Corporation&#146;s Corporate Governance Guidelines and these <FONT STYLE="white-space:nowrap">By-Laws.</FONT>
</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE III </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OFFICERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;<B>Officers; Term of Office</B>. The officers of the Corporation shall be a Chief Executive Officer, one or more
Presidents, one or more Vice Presidents (which may include one of more executive vice presidents, senior vice presidents or vice presidents), a Secretary, a Treasurer and such other officers as the Board of Directors may deem necessary or desirable
(including one or more assistant secretaries or assistant treasurers). The officers referred to in this paragraph (x)&nbsp;shall be elected annually by the Board of Directors at the regular meeting of the Board of Directors held immediately after
the annual meeting of shareholders. Any two or more offices may be held by the same person. Each officer shall hold office until his or her successor shall have been duly chosen and shall qualify, or until his or her death or until he or she shall
resign, or shall have been removed in the manner hereinafter provided. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2&nbsp;&nbsp;&nbsp;&nbsp;<B>Removal</B>. Any officer of the Corporation may be removed by the
Board of Directors with or without cause at any time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3&nbsp;&nbsp;&nbsp;&nbsp;<B>Resignations</B>. Any officer of the Corporation may
resign at any time by giving written notice of his or her resignation to the Board of Directors or to the Chief Executive Officer or Secretary of the Corporation. Any such resignation shall take effect at the time specified therein, or, if the time
when it shall become effective shall not be specified therein, then it shall take effect immediately upon its receipt by such Board of Directors, Chief Executive Officer or Secretary; and, unless otherwise specified therein, the acceptance of such
resignation shall not be necessary to make it effective. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4&nbsp;&nbsp;&nbsp;&nbsp;<B>Vacancies</B>. A vacancy in any office due to death,
resignation, removal, disqualification or any other cause shall be filled for the unexpired portion of the term in the manner prescribed in these <FONT STYLE="white-space:nowrap">By-Laws</FONT> for regular appointments or elections to such office.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5&nbsp;&nbsp;&nbsp;&nbsp;<B>The Chief Executive Officer</B>. The Chief Executive Officer, who may also be the Chair of the Board, shall be
the chief executive officer of the Corporation and shall have general supervision of the business of the Corporation and over its several officers, subject, however, to the control of the Board of Directors. He or she shall, in the absence of the
Chair of the Board, preside at all meetings of the shareholders and at all meetings of the Board of Directors. He or she shall see that all orders and resolutions of the Board of Directors are carried into effect. He or she may sign, execute and
deliver in the name and on behalf of the Corporation all deeds, mortgages, bonds, contracts or other instruments authorized by the Board of Directors except where the signing, execution or delivery thereof shall be expressly delegated to some other
officer or agent of the Corporation or where any of them shall be required by law to be otherwise signed, executed or delivered, and he or she may affix the seal of the Corporation to any instrument which shall require it. He or she shall perform
all duties incident to the office of Chief Executive Officer and such other duties as from time to time may be assigned to him or her by the Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6&nbsp;&nbsp;&nbsp;&nbsp;<B>The Presidents and any Vice Presidents</B>. The Presidents and any Vice Presidents shall assist the Chief Executive
Officer and shall perform such duties as may be assigned to him or her by the Chief Executive Officer, the Board of Directors or as may be prescribed by these <FONT STYLE="white-space:nowrap">By-Laws.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7&nbsp;&nbsp;&nbsp;&nbsp;<B>The Treasurer</B>. The Treasurer shall have the care and custody of all funds, securities, evidences of indebtedness
and other personal property of the Corporation and shall deposit the same in accordance with the instructions of the Board of Directors. If required by the Board of Directors, the Treasurer shall give a bond for the faithful discharge of his or her
duties in such sum and with such surety or sureties as the Board of Directors shall determine. He or she shall perform all the duties incidental to the office of Treasurer and such other duties as may be assigned, from time to time, to him or her by
the Chief Executive Officer or the Board of Directors. Upon request of the Board of Directors, he or she shall make such reports to it as may be required at any time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8&nbsp;&nbsp;&nbsp;&nbsp;<B>The Secretary</B>. The Secretary shall (i)&nbsp;attend all meetings
of the Board of Directors and of the shareholders and record all votes, (ii)&nbsp;keep the minutes of all proceedings of the Board of Directors and of the shareholders in a book to be kept for that purpose and for the standing committees when
required and (iii)&nbsp;have charge of the stock certificate book and stock ledger and such other books and papers as the Board of Directors may direct. He or she shall give, or cause to be given, notice of all meetings of the shareholders and any
meetings the Board of Directors for which notice is required, and shall perform all other duties incident to the office of Secretary and such other duties as may be assigned, from time to time, to him or her by the Chief Executive Officer or the
Board of Directors. He or she shall keep in safe custody the seal of the Corporation and, when properly authorized, affix the same to any instrument requiring it and, when so affixed, it shall be attested by his or her signature or by the signature
of the Treasurer or an Assistant Secretary. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IV </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONTRACTS, CHECKS, DRAFTS, BANK ACCOUNTS, ETC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;<B>Execution of Contracts, etc</B>. Except as otherwise required by law or by these
<FONT STYLE="white-space:nowrap">By-Laws,</FONT> any officer or officers, agent or agents, may be authorized by the Board of Directors, or in the case of an officer appointed by the Chief Executive Officer, by either the Board of Directors or the
Chief Executive Officer to execute and deliver any contract or other instrument in the name of the Corporation and on its behalf. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2&nbsp;&nbsp;&nbsp;&nbsp;<B>Checks, Drafts, etc</B>. All checks, drafts and other orders for the payment of money, bills of lading, warehouse
receipts, obligations, bills of exchange and insurance certificates shall be signed in the name and on behalf of the Corporation by such officer or officers, agent or agents of the Corporation and in such manner as shall from time to time be
authorized by the Board of Directors or authorized by the Treasurer acting together with any Elected Officer of the Corporation, which authorization may be general or confined to specific instances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3&nbsp;&nbsp;&nbsp;&nbsp;<B>Deposits</B>. All funds of the Corporation not otherwise employed shall be deposited from time to time to the credit
of the Corporation or otherwise as the Board of Directors, or any officer of the Corporation to whom power in that respect shall have been delegated, shall direct in such banks, trust companies or other depositories as said Board of Directors may
select or as may be selected by any officer or officers or agent or agents of the Corporation to whom power in that respect shall have been delegated. For the purpose of deposit and for the purpose of collection for the account of the Corporation,
checks, drafts and other orders for the payment of money which are payable to the order of the Corporation may be endorsed, assigned and delivered by any officer or agent of the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4&nbsp;&nbsp;&nbsp;&nbsp;<B>General and Special Bank Accounts</B>. The Board of Directors may from time to time authorize the opening and keeping
of general and special bank accounts with such banks, trust companies or other depositaries as the Board of Directors may select, or as may be selected by any officer or officers, agent or agents of the Corporation to whom power in that respect
shall have been delegated. The Board of Directors may make such special rules and regulations with respect to such bank accounts, not inconsistent with the provisions of these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> as it may deem
expedient. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE V </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SHARES AND THEIR TRANSFER </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;<B>Certificates for Stock</B>. The shares of stock of the Corporation will be represented by certificates, in such form
as the Board of Directors may from time to time prescribe, except that the Board of Directors may provide that some or all of any class or series of shares will be uncertificated shares. No decision to have uncertificated shares will apply to shares
represented by a certificate until that certificate has been surrendered to the Corporation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The certificates representing such shares shall be numbered in the order in which they shall be issued and
shall be signed in the name of the Corporation by the Chair of the Board, a President or a Vice-President, and by the Treasurer or the Secretary or an Assistant Treasurer or Assistant Secretary of the Corporation and its seal shall be affixed
thereto; provided, however, that where such certificate is signed by a transfer agent or registered by a registrar other than the Corporation itself or its employee, if the Board of Directors shall by resolution so authorize, the signatures of such
Chair of the Board, President, or Vice-President, Treasurer, Secretary, Assistant Treasurer or Assistant Secretary and the seal of the Corporation may be by facsimile. In case any officer or officers of the Corporation who shall have signed, or
whose facsimile signature or signatures has been placed upon a certificate or certificates shall cease to be such officer or officers, whether by reason of death, resignation or otherwise, before such certificate or certificates shall have been
delivered by the Corporation, such certificate or certificates may nevertheless be adopted by the Corporation and be issued and delivered as if the person or persons who signed such certificate or certificates had not ceased to be such officer or
officers. A record shall be kept of the respective names of the persons, firms or corporations owning the shares represented by certificates for stock of the Corporation, the number of shares represented by such certificates, respectively, and the
respective dates thereof, and in case of cancellation, the respective dates of cancellation. Every certificate surrendered to the Corporation for exchange or transfer shall be canceled and a new certificate or certificates shall not be issued in
exchange for any existing certificate, until such existing certificate shall have been so canceled except in cases provided for in Article V, Section&nbsp;4 of these <FONT STYLE="white-space:nowrap">By-Laws.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2&nbsp;&nbsp;&nbsp;&nbsp;<B>Stock Ledger; Transfers of Stock</B>. The Secretary shall keep or cause to be kept a stock-book, which may be in
electronic form, containing the names, alphabetically arranged, of all persons who are shareholders of the Corporation, showing each shareholder&#146;s place of residence, the number of shares of capital stock owned by each shareholder, and the date
when each shareholder became the owner of such shares. Transfers of shares of the capital stock of the Corporation shall be made on the books of the Corporation only by the registered holder thereof, or by his or her attorney thereunto authorized by
power of attorney duly executed and filed with the Secretary of the Corporation or with a transfer clerk or transfer agent appointed as in Article&nbsp;V, Section&nbsp;3 of these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> upon
(1)&nbsp;surrender of the certificate or certificates for such shares properly endorsed, to the extent that the shares were issued in certificated form or a properly endorsed stock power authorizing the transfer of such shares, and (2)&nbsp;the
payment of all taxes thereon. The person in whose name shares of capital stock stand on the books of the Corporation shall be deemed the owner thereof for all purposes with regard to the Corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3&nbsp;&nbsp;&nbsp;&nbsp;<B>Regulations</B>. The Board of Directors may make such rules and regulations, as it may be deem expedient, not
inconsistent with these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> concerning the issue, transfer and registration of shares of the capital stock of the Corporation. It may appoint, or authorize any elected officer or officers to appoint, one
or more Transfer Clerks or one or more Transfer Agents or one or more Registrars, and may require all certificates of stock to bear the signature or signatures of any of them. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4&nbsp;&nbsp;&nbsp;&nbsp;<B>Lost, Destroyed and Mutilated Certificates</B>. The holder of any share of stock of the Corporation shall immediately
notify the Corporation of any loss, destruction or mutilation of the certificate therefor, and the Corporation may issue a new certificate of stock in the place of any certificate theretofore issued by it, alleged to have been lost or destroyed, and
the Board of Directors may, in its discretion, require the owner of the lost or destroyed certificate or his or her legal representatives to give the Corporation a bond in such sum, limited or unlimited, and in such form and with such surety or
sureties, as the Board of Directors shall in its uncontrolled discretion determine, to indemnify the Corporation against any claim that may be made against it on account of the alleged loss or destruction of any such certificate, or the issuance of
such new certificate. The Board of Directors, however, may in its discretion refuse to issue any such new certificate, except pursuant to legal proceedings under the laws of the State of New York in such case made and provided. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VI </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INDEMNIFICATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1&nbsp;&nbsp;&nbsp;&nbsp;<B>Right To Indemnification</B>. The Corporation shall indemnify any person made, or threatened to be made, a party to
an action or proceeding, whether civil or criminal, by reason of the fact that he or she, or a person of whom he or she is the legal representative, is or was a director or officer of the Corporation, or was serving, at the request of the
Corporation, as a director, officer, employee, fiduciary or agent of any other affiliated corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, against judgments, fines, amounts paid in settlement and reasonable
expenses, including attorney&#146;s fees, incurred by such person as a result of such action or proceeding, or any appeal therein, unless a judgment or other final adjudication adverse to such person establishes that his or her acts, or the acts of
the person of whom he or she is the legal representative, were committed in bad faith or were the result of active and deliberate dishonesty and were material to the cause of action so adjudicated, or that he or she, or the person of whom he or she
is the legal representative, personally gained in fact a financial profit or other advantage to which he or she, or the other person of whom he or she is the legal representative, was not legally entitled. The Corporation shall advance to such
person funds to pay for such expenses, including attorney&#146;s fees, incurred by such person in defending against any such action or proceeding, or any appeal therein, upon receipt of an undertaking by or on behalf of such person to repay such
funds to the Corporation if a judgment or other final adjudication adverse to such person establishes that his or her acts, or the acts of the person of whom he or she is the legal representative, were committed in bad faith or were the result of
active and deliberate dishonesty and were material to the cause of action so adjudicated, or that he or she, or the person of whom he or she is the legal representative, personally gained in fact a financial profit or other advantage to which he or
she, or such person, was not legally entitled. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2&nbsp;&nbsp;&nbsp;&nbsp;<B>Right Of Claimant To Sue</B>. If a claim under Section&nbsp;1 of
this Article VI is not paid in full by the Corporation within thirty (30)&nbsp;days after a written claim has been received by the Corporation, the claimant may at any time thereafter bring suit against the Corporation to recover the unpaid amount
of the claim and, if successful in whole or in part, the claimant shall be entitled to be paid also the expenses of prosecuting such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses
incurred in defending any proceeding in advance of its final disposition where the required undertaking, if any is required, has been tendered to the Corporation) that the claimant, or the person of whom he or she is the legal representative, has
not met the standard of conduct established in Article VI, Section&nbsp;1 of these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> but the burden of proving such defense shall be on the Corporation. Neither the failure of the Corporation (including
its Board of Directors, independent legal counsel, or its shareholders) to have made a determination prior to the commencement of such action that indemnification of the claimant is proper because the claimant or such person has met the said
standard of conduct, nor an actual determination by the Corporation (including its Board of Directors, independent legal counsel, or its shareholders) that the claimant or such person has not met such applicable standard of conduct, shall be a
defense to action or create a presumption that the claimant or such person has not met such standard of conduct. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3&nbsp;&nbsp;&nbsp;&nbsp;<B><FONT STYLE="white-space:nowrap">Non-Exclusivity</FONT> Of
Rights</B>. Subject to the limitations contained in Section&nbsp;1 of this Article VI, the right to indemnification and the payment of expenses conferred in this Article VI shall not be deemed exclusive of any other right to which any person seeking
indemnification or advancement or payment of expenses may be entitled, whether under any statute, provision of the Certification of Incorporation, these <FONT STYLE="white-space:nowrap">By-Laws,</FONT> agreement, vote of shareholders or
disinterested directors or otherwise, and the Corporation is hereby authorized to provide further indemnification or advancement rights to any such person whether by separate agreement or by resolution of its directors or shareholders or otherwise.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4&nbsp;&nbsp;&nbsp;&nbsp;<B>Contract Rights; Savings Clause.</B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Contract Rights</U>. The rights conferred by this Article VI shall be contract rights and shall vest at the time a person agrees
to become a director or officer of the Corporation. Such rights shall continue as to a person who has ceased to be a director or officer of the Corporation and shall extend to the heirs and legal representatives of such person. Any repeal or
modification of the Business Corporation Law or the provisions of this Article VI shall not affect any right or obligation then existing with respect to any state of facts then or previously existing or any action or proceeding previously or
thereafter brought or threatened based in whole or in part upon any such state of facts. Such a contract right may not be modified retroactively without the consent of such person, except as provided by law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Savings Clause</U>. Any repeal or modification of the provisions of this Article VI shall not adversely affect any right or
protection hereunder of any director or officer in respect of any act or omission occurring prior to the time of such repeal or modification. If any provision of this Article VI is held to be invalid, illegal or unenforceable for any reason
whatsoever (i)&nbsp;the validity, legality and enforceability of the remaining provisions of this Article VI (including without limitation, all portions of any paragraphs of this Article VI containing any such provision held to be invalid, illegal
or unenforceable, that are not by themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and (ii)&nbsp;to the fullest extent possible, the provisions of this Article VI (including, without limitation, all
portions of any paragraph of this Article VI containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by
the provision held invalid, illegal or unenforceable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5&nbsp;&nbsp;&nbsp;&nbsp;<B>Business Corporation Law</B>. All references to the
Business Corporation Law in this Article VI shall mean such Law as it may from time to time be amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6&nbsp;&nbsp;&nbsp;&nbsp;<B>Insurance</B>. The Corporation may purchase and maintain insurance to indemnify officers, directors and others
against costs or liabilities incurred by them in connection with the performance of their duties and any activities undertaken by them for, or at the request of, the Corporation, to the fullest extent permitted by the Business Corporation Law. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VII </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SEAL
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The seal of the Corporation shall be in the form of a circle, and shall bear the full name of the Corporation and the year of its incorporation. </P>

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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VIII </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FISCAL YEAR </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The fiscal year of the
Corporation shall end with the thirty-first day of December in each year or such other date as the Board shall determine. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IX
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENTS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of
Directors shall have the power to amend, repeal or adopt the <FONT STYLE="white-space:nowrap">By-Laws</FONT> of the Corporation, and the <FONT STYLE="white-space:nowrap">By-Laws</FONT> may be amended, repealed or adopted by the shareholders entitled
at the time to vote in the election of directors. Notwithstanding the previous sentence, until the 2023 annual meeting of the Corporation, any amendment or repeal of any provision of Article II, Section&nbsp;14 of these <FONT
STYLE="white-space:nowrap">By-Laws</FONT> or adoption of any additional provision therein, or any adoption, amendment or repeal of any other <FONT STYLE="white-space:nowrap">By-Law</FONT> that would result in terms contrary to or in conflict with
any of the terms of Article II, Section&nbsp;14 of these <FONT STYLE="white-space:nowrap">By-Laws</FONT> shall, in each case, require the approval by (i)&nbsp;the affirmative vote of a majority of the IFF Designees and/or Continuing IFF Designees,
as applicable, then in office, even if less than a quorum, or by a sole remaining IFF Designee and/or Continuing IFF Designee, as applicable, and (ii)&nbsp;the affirmative vote of a majority of the DuPont Designees and/or Continuing DuPont
Designees, as applicable, then in office, even if less than a quorum, or by a sole remaining DuPont Designee and/or Continuing DuPont Designee, as applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>d121961dex51.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-5.1</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="15%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="84%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">


<IMG SRC="g121961g0130081537579.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 1, 2021</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">International Flavors&nbsp;&amp; Fragrances Inc.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">521 West 57<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>&nbsp;Street</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10019</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen:</P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I am Deputy General Counsel of International Flavors&nbsp;&amp; Fragrances Inc., a New York corporation (the &#147;Company&#148;), and have acted as counsel to
the Company in connection with the Registration Statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> (the &#147;Registration Statement&#148;) being filed by the Company under the Securities Act of 1933, as amended (the &#147;Act&#148;),
relating to the registration of 599,443 shares of the Company&#146;s Common Stock, par value $0.125&nbsp;per share (&#147;Common Stock&#148;), which may be issued by the Company pursuant to the Conversion Equity Awards being administered under the
International Flavors&nbsp;&amp; Fragrances Inc. 2015 Stock Award and Incentive Plan (the &#147;Plan&#148;).</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I have examined originals or copies, certified or otherwise identified to my satisfaction, of such corporate documents and records which I have deemed
necessary or appropriate for the purposes of this opinion and have concluded such other investigations of fact and law as I have deemed necessary or advisable for purposes of this opinion. I have assumed that the signatures on all documents that I
have examined are genuine. This opinion is limited solely to matters governed by the laws of the United States of America and the Business Corporation Law of New York, and I express no opinion with respect to any other laws. Insofar as this opinion
relates to Common Stock to be issued in the future, I have assumed that all applicable laws, rules and regulations in effect at the time of such issuance are the same as those in effect on the date hereof.</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Based upon the foregoing and subject to the limitations set forth herein, I am of the
opinion that the shares of Common Stock have been duly authorized and, when issued in accordance with the terms of the Plan, will be validly issued, fully paid and <FONT STYLE="white-space:nowrap">non-assessable.</FONT></P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">I hereby consent to the filing of this opinion as an exhibit to the Registration
Statement.</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="61%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Very truly yours,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Nanci Prado</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Nanci Prado</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Deputy General Counsel</TD></TR>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>d121961dex231.htm
<DESCRIPTION>EX-23.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-23.1</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 23.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We hereby consent to the incorporation by reference in this Registration Statement on Form <FONT STYLE="white-space:nowrap">S-8</FONT> of International
Flavors&nbsp;&amp; Fragrances Inc. of our report dated March&nbsp;3, 2020, except with respect to our opinion on the consolidated financial statements insofar as it relates to the effects of the change in the composition of reportable segments
discussed in Note 15, as to which the date is June&nbsp;18, 2020, relating to the financial statements and financial statement schedule and the effectiveness of internal control over financial reporting, which appears in International
Flavors&nbsp;&amp; Fragrances Inc.&#146;s Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> dated June&nbsp;18, 2020. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/
PricewaterhouseCoopers LLP </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February&nbsp;1, 2021 </P>
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<SEQUENCE>5
<FILENAME>g121961g0130081537579.jpg
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