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EXHIBIT 10.6  

 
 

THE COCA-COLA COMPANY
  2002 STOCK OPTION PLAN    
    

Section 1. Purpose  

        The purpose of The Coca-Cola Company 2002 Stock Option Plan (the "Plan") is to advance the interest of The Coca-Cola Company (the
"Company") and its Related Companies (as defined in Section 2) by encouraging and enabling the acquisition of a financial interest in the Company by officers and other key employees of the
Company or its Related Companies. In addition, the Plan is intended to aid the Company and its Related Companies in attracting and retaining key employees, to stimulate the efforts of such employees
and to strengthen their desire to remain in the employ of the Company and its Related Companies. Also, the Plan is intended to help the Company and its Related Companies, in certain instances, to
attract and compensate consultants to perform key services. 

Section 2. Definitions  

        "Business Day" means a day on which the New York Stock Exchange is open for securities trading. 

        "Change
in Control" shall mean a change in control of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A under
the Securities Exchange Act of 1934, as amended ("1934 Act"), as in effect on January 1, 2002, provided that such a change in control shall be deemed to have occurred at such time as
(i) any "person" (as that term is used in Sections 13(d) and 14(d)(2) of the 1934 Act), is or becomes the "beneficial owner" (as defined in Rule 13d-3
under the 1934 Act as in effect on January 1, 2002) directly or indirectly, of securities representing 20% or more of the combined voting power for election of directors of the then outstanding
securities of the Company or any successor of the Company; (ii) during any period of two (2) consecutive years or less, individuals who at the beginning of such period constituted
the Board of Directors of the Company
cease, for any reason, to constitute at least a majority of the Board of Directors, unless the election or nomination for election of each new director was approved by a vote of at least
two-thirds of the directors then still in office who were directors at the beginning of the period; (iii) the share owners of the Company approve any merger or consolidation as a
result of which the KO Common Stock (as defined below) shall be changed, converted or exchanged (other than a merger with a wholly owned subsidiary of the Company) or any liquidation of the Company or
any sale or other disposition of 50% or more of the assets or earning power of the Company; or (iv) the share owners of the Company approve any merger or consolidation to which the Company is a
party as a result of which the persons who were share owners of the Company immediately prior to the effective date of the merger or consolidation shall have beneficial ownership of less than 50% of
the combined voting power for election of directors of the surviving corporation following the effective date of such merger or consolidation; provided, however, that no Change in Control shall be
deemed to have occurred if, prior to such times as a Change in Control would otherwise be deemed to have occurred, the Board of Directors determines otherwise. 

        "Board"
means the Board of Directors of the Company. 

        "Committee"
means a committee appointed by the Board of Directors in accordance with the Company's By-Laws from among its members. Eligibility requirements for members of the
Committee shall comply with Rule 16b-3 under the 1934 Act, or any successor rule or regulation. 

        "Disabled"
or "Disability" means a condition for which a Participant becomes eligible for a disability benefit under the long term disability insurance policy issued to the Company
providing Basic Long Term Disability Insurance benefits pursuant to The Coca-Cola Company Health and Welfare Benefits Plan, or under any other long term disability plan which hereafter may
be maintained by the Company, whether or not the optionee is covered by such plans. 

 

        "ISO"
means an incentive stock option within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended. 

        "KO
Common Stock" means the common stock of The Coca-Cola Company, par value $.25 per share. 

        "Majority-Owned
Related Company" means a Related Company in which the Company owns, directly or indirectly, 50% or more of the voting stock or capital on the date an Option or SAR is
granted. 

        "NSO"
means a stock option that does not constitute an ISO. 

        "Options"
means ISOs and NSOs granted under this Plan. 

        "Related
Company" or "Related Companies" means corporation(s) or other business organization(s) in which the Company owns, directly or indirectly, 20% or more of the voting stock or
capital at the relevant time. 

        "Retire"
means to enter Retirement. 

        "Retirement"
means an employee's termination of employment on a date which is on or after the earliest date on which such employee would be eligible for an immediately payable benefit
pursuant to (i) for those employees eligible for participation in the Company's Supplemental Retirement Plan, the terms of that plan and (ii) for all other employees, the terms of the
Employee Retirement Plan (the "ERP"), whether or not the employee is covered by the ERP. Notwithstanding the above, if an employee receiving severance payment(s) would have been eligible for
Retirement as defined above had the employee continued his employment for a period equal to the period of the proposed severance payment(s), the employee will be deemed retired under this plan as of
the date severance begins. 

        "SAR"
means stock appreciation rights granted under this Plan. An SAR entitles the Participant to receive, in KO Common Stock, value equal to the excess of: a) the fair market
value of a specified number of shares of KO Common Stock at the time of exercise; over b) an exercise price established by the Committee. 

Section 3. Options and SARs  

        The Company may grant ISOs and NSOs to those persons meeting the eligibility requirements in Section 6(a) and NSOs to those persons meeting the
eligibility requirements in Sections 6(b) and 6(c). 

        The
Company may grant SARs to any persons meeting the eligibility requirements in Sections 6(a), (b) and (c). 

        An
individual who is granted an Option and/or an SAR shall be referred to herein as an "optionee." 

Section 4. Administration  

        The Plan shall be administered by the Committee. No person, other than members of the Committee, shall have any discretion concerning decisions regarding the
Plan. The Committee shall determine the key employees of the Company and its Related Companies (including officers, whether or not they are directors) and consultants to whom, and the time or times at
which, Options and SARs will be granted; the number of shares to be subject to each Option and SAR; the duration of each Option and SAR; the time or times within which the Option or SAR may be
exercised; the cancellation of the Option or SAR (with the consent of the holder thereof); and the other conditions of the grant of the Option or SAR, at grant or while outstanding, pursuant to the
terms of the Plan. The provisions and conditions of the Options or SARs need not be the same with respect to each optionee or with respect to each Option or SAR. 

2

 

        The
Committee may, subject to the provisions of the Plan, establish such rules and regulations as it deems necessary, or advisable, for the proper administration of the Plan, and may
make determinations and may take such other action in connection with or in relation to the Plan as it deems necessary or advisable. Each determination or other action made or taken pursuant to the
Plan, including interpretation of the Plan and the specific conditions and provisions of the Options and SARs granted hereunder by the Committee, shall be final and conclusive for all purposes and
upon all persons including, but without limitation, the Company, its Related Companies, the Committee, the Board, officers and the affected employees and consultants to the Company and/or its Related
Companies, optionees and the respective successors in interest of any of the foregoing. 

Section 5. Stock  

        The KO Common Stock to be issued, transferred and/or sold under the Plan shall be made available from authorized and unissued KO Common Stock or from the
Company's treasury shares. The total number of shares of KO Common Stock that may be issued or transferred under the Plan pursuant to Options or SARs granted thereunder may not exceed 120,000,000
shares (subject to adjustment as described below); provided, however, that in no event shall the number of shares of KO Common Stock that may be issued, transferred or sold under the Plan exceed 5% of
the number of shares of KO
Common Stock outstanding on a given date. Such number of shares shall be subject to adjustment in accordance with Section 5 and Section 11. KO Common Stock subject to any unexercised
portion of an Option or SAR which expires or is canceled, surrendered or terminated for any reason may again be subject to Options or SARs granted under the Plan. 

Section 6. Eligibility  

        Options and/or SARs may be granted to: 

	(a)
	employees
of the Company and its Majority-Owned Related Companies,

	(b)
	particular
employee(s) of a Related Company, who within the past eighteen (18) months were employee(s) of the Company or a Majority-Owned Related Company, and in rare instances
to be determined by the Committee at its sole discretion, employees of a Related Company who have not been employees of the Company or a Majority-Owned Related Company within the past eighteen
(18) months, and

	(c)
	consultants
providing key services to the Company or its Related Companies (provided that consultants are natural persons and are not former employees of the Company or any Related
Company, and that consultants shall be eligible to receive only NSOs and shall not be eligible to receive ISOs). 

No
person shall be granted the right to acquire, pursuant to Options or SARs granted under the Plan, more than 5% of the aggregate number of shares of KO Common Stock originally authorized under the
Plan, as adjusted pursuant to Section 11. No option or SAR shall be exercisable unless the employee properly, timely and unconditionally executes (by any means approved by the plan
administrator) a stock option agreement provided in connection with the stock option or SAR award. 

3

 

Section 7. Awards of Options and SARs  

        Except as otherwise specifically provided in this Plan, Options and SARs granted pursuant to the Plan shall be subject to the following terms and conditions: 

        (a)    Option Price and Exercise Price.    The option price (for NSOs and ISOs) and the exercise price (for SARs)
shall be no less than 100% of the fair market value of the KO Common Stock on the date of grant. The fair market value of a share of KO Common Stock shall be the average of the high and low market
prices at which a share of KO Common Stock shall have been sold on the date of grant, or on the next preceding trading day if such date was not a trading date, as reported on the New York Stock
Exchange Composite Transactions listing. If necessary to comply with foreign laws, the Committee may, at its sole discretion, grant Options and SARs at an option price or exercise price less than 100%
of the fair market value of the KO Common Stock on the date of grant. 

        (b)    Payment of Option Price.    The option price shall be paid in full at the time of exercise, except as provided
in the next sentence. If an exercise is executed by the plan administrator using the cashless method, the exercise price shall be paid in full no later than the close of business on the third Business
Day following the exercise. 

        Payment
may be in cash or, upon conditions established by the Committee, by delivery of shares of KO Common Stock owned by the optionee for at least six (6) months prior to the
date of exercise. 

        The
optionee, if a U.S. taxpayer, may elect to satisfy Federal, state and local income tax liabilities due by reason of the exercise by the withholding of shares of KO Common Stock. 

        If
shares are delivered to pay the option price or if shares are withheld for U.S. taxpayers to satisfy such tax liabilities, the value of the shares delivered or withheld shall be
computed on the basis of the reported market price at which a share of KO Common Stock most recently traded prior to the time the exercise order was processed. Such price will be determined by
reference to the New York Stock Exchange Composite Transactions listing. 

        (c)    Exercise May Be Delayed Until Withholding is Satisfied.    The Company may refuse to recognize the
exercise of an Option or SAR if the optionee has not made arrangements satisfactory to the Company to satisfy the tax withholding which the Company determines is necessary to comply with applicable
requirements. 

        (d)    Duration of Options and SARs.    The duration of Options and SARs shall be determined by the Committee, but in
no event shall the duration of an ISO exceed ten (10) years from the date of its grant or the duration of an NSO or SAR exceed fifteen (15) years from the date of its grant. 

        (e)    Vesting.    Options and SARs shall contain such vesting terms as are determined by the Committee, at its sole
discretion, including, without limitation, vesting upon the achievement of certain specified performance targets. In the event that no vesting determination is made by the Committee, Options and SARs
shall vest as follows: (1) 25% on the first anniversary of the date of the grant; (2) 25% on the second anniversary of the date of the grant; (3) 25% on the third anniversary of
the date of the grant; and (4) 25% on the fourth anniversary of the date of the grant. 

        (f)    Other Terms and Conditions.    Options and SARs may contain such other provisions, not inconsistent with the
provisions of the Plan, as the Committee shall determine appropriate from time to time; provided, however, that, except in the event of a Change in Control, Retirement, Disability or death of the
optionee, no grant shall provide that an Option or SAR shall be exercisable in whole or in part for a period of twelve (12) months from the date on which the Option or SAR is granted. The grant
of an Option or SAR to any employee shall not affect in any way the right of the Company and any Related Company to terminate the employment of such employee. The grant of an Option or SAR to any
consultant shall not affect in any way the right of the Company and any Related Company to terminate the services of such consultant. 

4

 

        (g)    ISOs.    The Committee, with respect to each grant of an Option to an optionee, shall determine whether such
Option shall be an ISO, and, upon determining that an Option shall be an ISO, shall designate it as such in the written instrument evidencing such Option. If the written instrument evidencing an
Option does not contain a designation that it is an ISO, it shall not be an ISO. 

        The
aggregate fair market value (determined in each instance on the date on which an ISO is granted) of the KO Common Stock with respect to which ISOs are first exercisable by any
optionee in any calendar year shall not exceed $100,000 for such optionee (or such other time limit as may be required by the Internal Revenue Code of 1986, as amended). If any subsidiary or
Majority-Owned Related Company of the Company shall adopt a stock option plan under which options constituting ISOs may be granted, the fair market value of the stock on which any such incentive stock
options are granted and the times at which such incentive stock options will first become exercisable shall be taken into account in determining the maximum amount of ISOs which may be granted to the
optionee under this Plan in any calendar year. 

        (h)    Deferral of Gains.    Gains associated with any exercise of Options and SARs shall be eligible for deferral in
accordance with the terms and subject to the conditions of The Coca-Cola Company Deferred Compensation Plan. 

Section 8. Nontransferability of Options and SARs  

        No Option or SAR granted pursuant to the Plan shall be transferable otherwise than by will or by the laws of descent and distribution. During the lifetime of an
optionee, the Option or SAR shall be exercisable only by the optionee personally or by the optionee's legal representative. 

Section 9. Effect of Termination of Employment, Other Changes of Employment or Employee Status, Death, Retirement, or a Change in Control  

        (a)    For Employees.    For optionees who are employees of the Company or its Related Companies on the date of grant,
the following provisions shall apply: 

	Event
	 	Impact on Vesting
	 	Impact on Exercise Period

	Employment terminates upon Disability.	 	All Options and SARs become immediately vested.	 	Option/SAR expiration date provided in grant continues to apply.
	

Employment terminates upon Retirement.	
 	

Options and SARs held at least 12 full calendar months become immediately vested; Options and SARs held less than 12 full calendar months are forfeited.	
 	

Option/SAR expiration date provided in grant continues to apply.
	 	 	 	 	 

5

 

	

Employment terminates upon death.	
 	

All Options and SARs become immediately vested.	
 	

Right of executor, administrator of estate (or other transferee permitted by Section 8) to exercise Options and SARs terminates on earlier of (1) 12 months from the date of death, or (2) the Option/SAR expiration date provided in
the grant continues to apply.
	

Employment terminates upon Change in Control.	
 	

All Options and SARs become immediately vested.	
 	

Option/SAR expiration date provided in grant continues to apply.
	

Termination of employment where optionee receives severance payment(s).	
 	

Unvested Options and SARs are forfeited.	
 	

Options/SARs expire upon the earlier of (1) the end of the severance period, but not less than 6 months from the termination date, or (2) the Option/SAR expiration date provided in the grant.
	

Termination of employment where optionee does not receive severance payment(s).	
 	

Unvested Options and SARs are forfeited.	
 	

Expires upon earlier of (1) 6 months from termination date, or (2) the Option/SAR expiration date provided in the grant.
	

US military leave.	
 	

Vesting continues during leave.	
 	

The Option/SAR expiration date provided in the grant continues to apply.
	

Eleemosynary service.	
 	

Committee's discretion.	
 	

Committee's discretion.
	

US FMLA leave of absence.	
 	

Vesting continues during leave.	
 	

The Option/SAR expiration date provided in the grant continues to apply.
	

Optionee's employer is no longer a Related Company (this constitutes a termination of employment under the Plan, effective the date the Company's investment falls below 20%).	
 	

Unvested Options and SARs are forfeited.	
 	

Expires upon earlier of (1) 6 months from termination date or (2) Option/SAR expiration date provided in the grant.
	

Employment transferred to Related Company.	
 	

Vesting continues after transfer.	
 	

The Option/SAR expiration date provided in the grant continues to apply.
	

Death after employment has terminated but before option has expired. Note: Termination of employment may have resulted in a change to the original Option/SAR expiration date provided in the grant.	
 	

Not applicable.	
 	

Right of executor, administrator of estate (or other transferee permitted by Section 8) terminates on earlier of (1) 12 months from the date of death, or (2) the Option/SAR expiration date that applied at the date of death.

        In
the case of other leaves of absence not specified above, optionees will be deemed to have terminated employment (so that Options and SARs unvested will expire and the
option/SAR exercise period will end on the earlier of 6 months from the date the leave began or the option expiration date provided in the grant), unless the Committee identifies a valid
business interest in doing otherwise, in which case it may, specify what provisions it deems appropriate at its sole discretion; provided that the Committee shall have no obligation to consider any
such matters. 

6

 

        (b)    For Consultants.    For optionees who are consultants, the provisions relating to changes of work assignment,
death, disability, Change in Control, or any other provision of an Option or SAR shall be determined by the Committee at the date of the grant. 

        (c)    Committee Retains Discretion To Establish Different Terms Than Those Provided in Sections 9(a) or
9(b).    Notwithstanding the foregoing provisions, the Committee may, at its sole discretion, establish different terms and conditions pertaining to the effect of an optionee's termination
on the expiration or exercisability of Options and SARs at the time of grant or (with the consent of the affected optionee) on the expiration or exercisability of outstanding Options and SARs.
However, no Option or SAR can have a term of more than fifteen years. 

Section 10. No Rights as a Share Owner  

        An optionee or a transferee of an optionee pursuant to Section 8 shall have no right as a share owner with respect to any KO Common Stock covered by an
Option or SAR or receivable upon the exercise of an Option or SAR, until the optionee or transferee shall have become the holder of record of such KO Common Stock. No adjustments shall be made for
dividends in cash or other property or other distributions or rights in respect to such KO Common Stock covered by any Option or SAR for which the record date is prior to the date on which the
optionee or transferee shall have in fact become the holder. 

Section 11. Adjustment in the Number of Shares and in Option and Exercise Price  

        In the event there is any change in the shares of KO Common Stock through the declaration of stock dividends, or stock splits, or through recapitalization or
merger or consolidation or combination of shares or spin-offs or otherwise, the Committee or the Board shall make such adjustment, if any, as it may deem appropriate in the number of
shares of KO Common Stock available for Options and SARs as well as the number of shares of KO Common Stock subject to any outstanding Option or SAR and the option price or exercise price thereof. Any
such adjustment may provide for the elimination of any fractional shares, which might otherwise become subject to any Option or SAR, without payment therefor. 

Section 12. Amendments, Modifications and Termination of the Plan  

        The Board or the Committee may terminate the Plan at any time. From time to time, the Board or the Committee may suspend the Plan, in whole or in part. From time
to time, the Board or the Committee may amend the Plan, in whole or in part, including the adoption of amendments deemed necessary or desirable to qualify the Options or SARs under the laws of various
countries (including tax laws) and under rules and regulations promulgated by the Securities and Exchange Commission with respect to optionees who are subject to the provisions of Section 16 of
the 1934 Act, or to correct any defect or
supply an omission or reconcile any inconsistency in the Plan or in any Option or SAR granted thereunder, or for any other purpose or to any effect permitted by applicable laws and regulations,
without the approval of the share owners of the Company. However, in no event may additional shares of KO Common Stock be allocated to the Plan or any outstanding option or SAR be repriced or replaced
without share-owner approval. Without limiting the foregoing, the Board or the Committee may make amendments applicable or inapplicable only to participants who are subject to Section 16 of the
1934 Act. 

7

 

        No
amendment or termination or modification of the Plan shall in any manner affect any Option or SAR theretofore granted without the consent of the optionee, except that the Committee
may amend or modify the Plan in a manner that does affect Options and SARs theretofore granted upon a finding by the Committee that such amendment or modification is in the best interest of holders of
outstanding Options and SARs affected thereby. Grants of ISOs may be made under this Plan until April 17, 2012 or such earlier date as this Plan is terminated, and grants of NSOs and SARs may
be made until all of the 120,000,000 shares of KO Common Stock authorized for issuance hereunder (adjusted as provided in Sections 5 and 11) have been issued or until this Plan is terminated,
whichever first occurs. The Plan shall terminate when there are no longer Options or SARs outstanding under the Plan, unless earlier terminated by the Board or by the Committee. 

Section 13. Governing Law  

        The Plan and all determinations made and actions taken pursuant thereto shall be governed by the laws of the State of Georgia and construed in accordance
therewith. 

8

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EXHIBIT 10.8  

 
 

THE COCA-COLA COMPANY
  1989 RESTRICTED STOCK AWARD PLAN
  (As Restated Effective December 1, 2003)    
    

Section 1. Purpose  

        The purpose of the 1989 Restricted Stock Award Plan of The Coca-Cola Company (the "Plan") is to advance the interest of The Coca-Cola
Company (the "Company") and its Related Companies (as defined in Section 4 hereof), by encouraging and enabling the acquisition of a financial interest in the Company by officers and other key
employees through grants of restricted shares of Company Common Stock (the "Awards", or singly, an "Award"). The Plan is intended to aid the Company and its Related Companies in retaining officers and
key employees, to stimulate the efforts of such employees and to strengthen their desire to remain in the employ of the Company and its Related Companies. In addition, the Plan may also aid in
attracting officers and key employees who will become eligible to participate in the Plan after a reasonable period of employment by the Company or its Related Companies. 

Section 2. Administration  

        The Plan shall be administered by a committee (the "Committee") appointed by the Board of Directors of the Company (the "Board") or in accordance with
Section 7, Article III of the By-Laws of the Company (as amended through October 16, 2003) from among its members and shall be comprised of not less than three
(3) members of the Board. Unless and until its members are not qualified to serve on the Committee pursuant to the provisions of the Plan, the Compensation Committee shall be members of the
Board who are not eligible to participate in the Plan for at least one year prior to the time they become members of the Committee. Eligibility requirements for members of the Committee shall comply
with Rule 16b-3 promulgated pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act") or any successor rule or regulation. The Committee shall determine the
officers and key employees of the Company and
its Related Companies (including officers, whether or not they are directors) to whom, and the time or times at which, Awards will be granted, the number of shares to be awarded, the time or times
within which the Awards may be subject to forfeiture, and all other conditions of the Award. The provisions of the Awards need not be the same with respect to each recipient. 

        The
Committee is authorized, subject to the provisions of the Plan, to establish such rules and regulations as it deems necessary or advisable for the proper administration of the Plan
and to take such other action in connection with or in relation to the Plan as it deems necessary or advisable. Each action made or taken pursuant to the Plan, including interpretation of the Plan and
the Awards granted hereunder by the Committee, shall be final and conclusive for all purposes and upon all persons, including, without limitation, the Company and its Related Companies, the Committee,
the Board, the Officers and the affected employees of the Company and/or its Related Companies and their respective successors in interest. 

Section 3. Stock  

        The stock to be issued under the Plan pursuant to Awards shall be shares of Common Stock, $.25 par value, of the Company (the "Stock"). The Stock shall be made
available from treasury or authorized and unissued shares of Common Stock of the Company. The total number of shares of Stock that may be issued pursuant to Awards under the Plan, including those
already issued, may not exceed 40,000,000 shares (subject to adjustment in accordance with Section 8). Shares of Stock previously granted pursuant to Awards, but which are forfeited pursuant to
Section 5, below, shall be available for future Awards. 

 

Section 4. Eligibility  

        Awards may be granted to officers and key employees of the Company and its Related Companies who have been employed by the Company or a Related Company (but only
if the Related Company is one in which the Company owns on the grant date, directly or indirectly, either (i) 50% or more of the voting stock or capital where such entity is not publicly held,
or (ii) an interest which causes the Related Company's financial results to be consolidated with the Company's financial results for financial reporting purposes) for a reasonable period of
time determined by the Committee. The term "Related Company" shall mean any corporation or other business organization in which the Company owns, directly or indirectly, 20 percent or more of
the voting stock or capital at the applicable time. No employee shall acquire pursuant to Awards granted under the Plan more than twenty (20) percent of the aggregate number of shares of Stock
issuable pursuant to Awards under the Plan. 

Section 5. Awards  

        Except as otherwise specifically provided in the grant of an Award, Awards shall be granted solely for services rendered to the Company or any Related Company by
the employee prior to the date of the grant and shall be subject to the following terms and conditions: 

        (a)   The
Stock subject to an Award shall be forfeited to the Company if the employment of the employee by the Company or Related Company terminates for any reason (including,
but not limited to, termination by the Company, with or without cause) other than death, "Retirement", as hereinafter defined, provided that such Retirement occurs at least five (5) years from
the date of grant of an Award and also provided that the employee has attained the age of 62, or disability, prior to a "Change in Control" of the Company as hereinafter defined. "Disability," as used
herein shall mean a condition for which a Participant becomes eligible for and receives a disability benefit under the long term disability insurance policy issued to the Company providing Basic Long
Term Disability Insurance benefits pursuant to The Coca-Cola Company Health and Welfare Benefits Plan, or under any other long term disability plan which hereafter may be maintained by the
Company, or for individuals outside the United States, an applicable governmental entity. "Retirement", as used herein, shall mean an employee's voluntarily leaving the employ of the Company or a
Related Company on a date which is on or after the earliest date on which such employee would be eligible for an immediately payable benefit pursuant to (i) for those employees eligible for
participation in the Company's Supplemental Retirement Plan, the terms of that Plan and (ii) for all other employees, the terms of the Employees Retirement Plan (the "ERP") assuming such
employees were eligible to participate in the ERP. "Cause," as used herein and in conjunction with an Award shall mean termination of employment by the Company or a Related Company which is based on a
violation of the Company's Code of Business Conduct or any other policy of the Company or its Related Company, or for gross misconduct. 

        (b)   If
at any time the recipient Retires on a date which is at least five (5) years from the date of grant of an Award and on or after the date on which the employee
has attained the age of 62, dies or becomes disabled, or in the event of a "Change in Control" of the Company, as hereinafter defined, prior to such Retirement, death or disability, such recipient
shall be entitled to retain the number of shares subject to the Award. A "Change in Control" shall mean a change in control of a nature that would be required to be reported in response to Item
6(e) of Schedule 14A of Regulation 14A promulgated under the Exchange Act as in effect on November 15, 1988, provided that such a change in control shall be deemed to have
occurred at such time as (i) any "person" (as that term is used in Sections 13(d) and 14(d)(2) of the Exchange Act), is or becomes the beneficial owner (as defined in
Rule 13d-3 under the Exchange Act) directly or indirectly, of securities representing 20% or more of the combined voting power for election of directors of the then outstanding
securities of the Company or any successor of the Company; (ii) during any period of two consecutive years or less, individuals who at the beginning of such period constituted the Board
of Directors of the Company cease, for any reason, to constitute at least a majority of the Board of Directors, unless the election or nomination for election of each new director was approved by a
vote of at least two-thirds of the directors then still in office who were directors at the beginning of the period; (iii) the shareholders of the Company approve any merger or
consolidation as a result of which the Common Stock shall be changed, converted or exchanged (other than a merger with a wholly-owned subsidiary of the Company) or any liquidation of the Company or
any sale or other disposition of 50% or more of the assets or earning power of the Company; or (iv) the shareholders of the Company approve any merger or consolidation to which the Company is a
party as a result of which the persons who were shareholders of the Company immediately prior to the effective date of the merger or consolidation shall have beneficial ownership of less than 50% of
the combined voting power for election of directors of the surviving corporation following the effective date of such merger or consolidation; provided, however, that no Change in Control shall be
deemed to have occurred if, prior to such time as a Change in Control would otherwise be deemed to have occurred, the Board of Directors determines otherwise. 

2

 

        (c)   Awards
may contain such other provisions, not inconsistent with the provisions of the Plan, as the Committee shall determine appropriate from time to time. 

        (d)   Performance-Based
Awards. 

        1.     The
Committee or, if applicable, a Subcommittee thereof, which shall be comprised of two or more outside directors meeting the requirements of Section 162(m) of
the Internal Revenue Code of 1986, as amended (the "Code") may select from time to time, in its discretion, executive officers, senior vice-presidents and other key executives of the
Company to receive awards of restricted stock under the Plan, in such amounts as the Committee or Subcommittee may, in its discretion, determine (subject to any limitations provided in the Plan), the
release of which will be conditioned upon the attainment of certain performance targets ("Performance-Based Awards"). The Committee or Subcommittee may authorize alternative awards, including, but not
limited to, promises of future restricted stock awards, provided that the grant and subsequent release is contingent upon attainment of certain performance targets under this section. 

        2.     At
the time of each grant, the Committee or Subcommittee shall determine the performance targets and the Measurement Period (as defined below) that will be applied with
respect to such grant. Grants of Performance-Based Awards may be made, and the performance targets applicable to such Performance-Based Awards may be defined and determined, by the Committee or
Subcommittee no later than ninety days after the commencement of the Measurement Period. The performance criteria applicable to Performance-Based Awards will be one or more of the following
criteria: 

	(i)
	average
annual growth in earnings per share; 
	(ii)
	increase
in share-owner value; 
	(iii)
	earnings
per share; 
	(iv)
	net
income; 
	(v)
	return
on assets; 
	(vi)
	return
on share-owners' equity; 
	(vii)
	increase
in cash flow; 
	(viii)
	operating
profit or operating margins; 
	(ix)
	revenue
growth of the Company; 
	(x)
	operating
expenses; and 
	(xi)
	quality
as determined by the Company's Quality Index. 

The
Measurement Period will be a period of years, determined by the Committee or Subcommittee in its discretion, commencing on January 1 of the first year of the Measurement Period and
ending on December 31 of the last year of the Measurement Period. The Measurement Period will be subject to adjustment as the Committee or Subcommittee may provide in the terms of each award. 

        3.     Except
as otherwise provided in the terms of the award, shares awarded in the form of Performance-Based Awards shall be eligible for release (the "Release Date") on
March 1 next following the completion of the Measurement Period. 

        4.     Shares
awarded in the form of Performance-Based Awards will be released only if the Controller of the Company and the Committee or Subcommittee certify that the
performance targets have been achieved during the Measurement Period. 

        5.     Performance-Based
Awards granted pursuant to this Section 5(d) are intended to qualify as performance-based compensation under Section 162(m) of the
Code and shall be administered and construed accordingly. 

3

 

        (e)   The
receipt of stock subject to an Award shall be eligible for deferral in accordance with the terms and subject to the conditions of The Coca-Cola Company
Deferred Compensation Plan. 

        (f)    No
Award shall be released unless the employee properly, timely and unconditionally executes (by any means approved by the plan administrator or the Director, Executive
Compensation) an agreement provided in connection with the Award. 

Section 6. Nontransferability of Awards  

        Shares of Stock subject to Awards shall not be transferable and shall not be sold, exchanged, transferred, pledged, hypothecated or otherwise disposed of at any
time prior to the first to occur of Retirement on a date which is at least five (5) years from the date of grant of an Award and on or after the date on which the employee has attained the age
of 62, death or disability of the recipient of an Award or a Change in Control. 

Section 7. Rights as a Stockholder  

        An employee who receives an Award shall have rights as a stockholder with respect to Stock covered by such Award to receive dividends in cash or other property or
other distributions or rights in respect to such Stock and to vote such Stock as the record owner thereof. 

Section 8. Adjustment in the Number of Shares Awarded  

        In the event there is any change in the Stock through the declaration of stock dividends, through stock splits or through recapitalization or merger or
consolidation or combination of shares or otherwise, the Committee or the Board shall make such adjustment, if any, as it may deem appropriate in the number of shares of Stock thereafter available for
Awards. 

Section 9. Taxes  

        (a)   If
any employee properly elects, within thirty (30) days of the date on which an Award is granted, to include in gross income for federal income tax purposes an
amount equal to the fair market value (on
the date of grant of the Award) of the Stock subject to the Award, such employee shall make arrangements satisfactory to the Committee to pay to the Company in the year of such Award, any federal,
state or local taxes required to be withheld with respect to such shares. If such employee shall fail to make such tax payments as are required, the Company and its Related Companies shall, to the
extent permitted by law, have the right to deduct from any payment of any kind otherwise due to the employee any federal, state or local taxes of any kind required by law to be withheld with respect
to the Stock subject to such Award. 

        (b)   Each
employee who does not make the election described in paragraph (a) of this Section shall, no later than the date as of which the restrictions referred
to in Section 5 and such other restrictions as may have been imposed as a condition of the Award, shall lapse, pay to the Company, or make arrangements satisfactory to the Committee regarding
payment of any federal, state or local taxes of any kind required by law to be withheld with respect to the Stock subject to such Award, and the Company and its Related Companies shall, to the extent
permitted by law, have the right to deduct from any payment of any kind otherwise due to the employee any federal, state, or local taxes of any kind required by law to be withheld with respect to the
Stock subject to such Award. 

4

 

        (c)   The
Committee may specify when it grants an Award that the Award is subject to mandatory share withholding for satisfaction of tax withholding obligations by employees.
For all other Awards, whether granted before or after this paragraph 9(c) was added to this Plan, tax withholding obligations of an employee may be satisfied by share withholding, if
permitted by applicable law, at the written election of the employee prior to the date the restrictions on the Award lapse. The shares withheld will be valued at the average of the high and low market
prices at which a share of Stock was sold on the date the restrictions lapse (or, if such date is not a trading day, then the next trading day thereafter), as reported on the New York Stock
Exchange—Composite Transactions listing. 

Section 10. Restrictive Legend and Stock Power  

        Each certificate evidencing Stock subject to Awards shall bear an appropriate legend referring to the terms, conditions and restrictions applicable to such award.
Any attempt to dispose of Stock in contravention of such terms, conditions, and restrictions shall be ineffective. The Committee may adopt rules which provide that the certificates evidencing such
shares may be held in custody by a bank or other institution, or that the Company may itself hold such shares in custody until the restrictions thereon shall have lapsed and may require, as a
condition of any Award, that the recipient shall have delivered a stock power endorsed in blank relating to the Stock covered by such Award. 

Section 11. Amendments, Modifications and Termination of Plan  

        The Board or the Committee may terminate the Plan, in whole or in part, may suspend the Plan, in whole or in part from time to time, and may amend the Plan from
time to time, including the adoption of amendments deemed necessary or desirable to qualify the Awards under the laws of various states (including tax laws) and under rules and regulations promulgated
by the Securities and Exchange Commission with respect to employees who are subject to the provisions of Section 16 of the Exchange Act, or to correct any defect or supply an omission or
reconcile any inconsistency in the Plan or in any Award granted thereunder, without the approval of the stock holders of the Company; provided, however, that no action shall be taken without the
approval of the stockholders of the Company which may increase the number of shares of Stock available for Awards or withdraw administration from the Committee, or permit any person while a member of
the Committee to be eligible to receive an Award. Without limiting the foregoing, the Board of Directors or the Committee may make amendments applicable or inapplicable only to participants who are
subject to Section 16 of the Exchange Act. No amendment or termination or modification of the Plan shall in any manner affect Awards therefore granted without the consent of the employee unless
the Committee has made a determination that an amendment or modification is in the best interest of all persons to whom Awards have theretofore been granted. The Board or the Committee may modify or
remove restrictions contained in Sections 5 and 6 on an Award or the Awards as a whole which have been previously granted upon a determination that such action is in the best interest of the
Company. The Plan shall terminate when (a) all Awards authorized under the Plan have been granted and (b) all shares of Stock subject to Awards under the Plan have been issued and are no
longer subject to forfeiture under the terms hereof unless earlier terminated by the Board or the Committee. 

Section 12. Governing Law  

        The Plan and all determinations made and actions taken pursuant thereto shall be governed by the laws of the State of Georgia and construed in accordance
therewith. 

5

QuickLinks

THE COCA-COLA COMPANY 1989 RESTRICTED STOCK AWARD PLAN (As Restated Effective December 1, 2003)

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