Document:

Document

Exhibit 10.2

[Letterhead of The Coca-Cola Company]

COCA-COLA PLAZA
ATLANTA, GEORGIA

                       JAMES R. QUINCEY                                                           ADDRESS REPLY TO:
CHAIRMAN & CHIEF EXECUTIVE OFFICER                                           P.O. BOX 1734
                   THE COCA-COLA COMPANY                                                       ATLANTA, GA 30301
                                                                                                                                                                                                                                                          __________

                                                                                                                                                                                                                                                      +1-404 676-9980
FAX:  +1-404 598-9980

April 23, 2021

Monica Howard Douglas
Atlanta, GA

Dear Monica,

We are delighted to offer you the position of Senior Vice President, Global General Counsel, ELT-Level, with an effective date of April 21, 2021, as elected by The Coca-Cola Company Board of Directors.  You will report to me.  The information contained in this letter provides the terms and compensation details of this position.  All payments set forth below are subject to tax and withholding.

•Your principal place of employment will be Atlanta, Georgia.  

•Your annual base pay for your new position will be USD 555,000.

•The Talent and Compensation Committee has approved a special long-term incentive award with approximate value of USD 750,000. One-third of the award will be delivered in stock options (24,299 stock options).  Two-thirds of the award will be delivered in growth share units (9,717 growth share units).  The stock option grant will vest 25% after the first year and 25% on February 18th of 2023, 2024 and 2025.  The growth share units will have a three-year performance period.  The measures of performance are compound annual growth for net operating revenue and earnings per share, and cumulative free cash flow for the 2021-2023 performance period. Additionally, it is subject to a Total Shareholder Return modifier.  All long-term incentive awards will be governed solely by the terms of the Company’s long-term incentive plans and agreements that will be provided to you at the time any awards are made.

•You will be eligible to participate in the annual Performance Incentive Plan.  Your target annual incentive for your new position is 100% of your annual base pay. Any payment will depend on both the business performance and your personal contributions. Awards are made at the discretion of the Talent and Compensation Committee of the Board of Directors based upon recommendations by Senior Management.  As a discretionary program, the performance factors, eligibility criteria, payment frequency, award opportunity levels and other provisions are variable. The plan may be modified from time to time.  

•You will be eligible to participate in The Coca-Cola Company’s Long-Term Incentive (LTI) program.  Awards are made at the discretion of the Talent and Compensation Committee of the Board of Directors based upon recommendations by Senior Management.  You will be eligible to receive LTI awards within guidelines for the job grade assigned to your position and based upon your leadership potential to impact the Company’s future growth.  As a discretionary program, eligibility criteria, award opportunity levels, the award timing, frequency, size and mix of award vehicles are variable.  

Monica Howard Douglas
April 23, 2021
Page 2 of 2

•You will be expected to acquire and maintain share ownership at a level equal to two times your base pay. As part of the Company’s ownership expectations, you will have five years, or until December 31, 2026 to comply with this requirement.  You will be asked to provide information in December each year on your progress toward your ownership goal, and that information will be reviewed with the Talent and Compensation Committee of the Board of Directors the following February. 

•You will be eligible for the Company’s Financial Planning Reimbursement Program which provides reimbursement of certain financial planning services, up to USD 10,000 annually.  

•You will be eligible for the Emory Executive Health benefit which includes a comprehensive physical exam and one-on-one medical and lifestyle management consultation.

•You are required to enter into the Agreement on Confidentiality, Non-Competition, and Non-Solicitation, as well as the Agreement Covering Inventions, Discoveries, Copyrightable Material, Trade Secrets, and Confidential Information that will be provided to you soon.

•This letter is provided as information and does not constitute an employment contract.

Monica, I feel certain that you will find challenge, satisfaction and opportunity in this role as we start our journey together during this time.

Sincerely, 

/s/ James Quincey

James Quincey
Chairman and CEO

C:        Carl Saunders
Executive Compensation
Executive Services

I, Monica Howard Douglas, accept this offer

Signature: /s/ Monica Howard Douglas        

Date:         4/26/2021                    
Classified - 
Classified - 
Classified - No CategoryExhibit 10.64

 

 

 

PROMISSORY NOTE

  

CANNABIS GLOBAL,
INC.

A Nevada Corporation

  

Dated: July 8, 2021
(“Issuance Date”)

 

For
value received, Cannabis Global, Inc., a Nevada corporation, (the “Company”), hereby promises to pay to Edward
Manolos (together with his respective successors, representatives, transferees and permitted assigns, (collectively, the “Holder”),
twenty two thousand ($22,000) (the “Principal Amount”) including additional annual interest at 5%.

 

The
principal and interest of this Note will be due and payable by the Company at any time on or before August 8, 2021 (“Maturity Date”)
upon demand by the Holder.

 

 

RECITALS

 

Company
is a corporation formed and operating in good standing under the laws of the State of Nevada.

 

Company’s
common stock is listed on the OTC Markets listing service under the trading symbol “CBGL.”

 

The Holder is a director
of the Company and thus an affiliate of the Company as defined Rule 405 under the Securities Act of 1933, as amended.

 

The purchase of this
Note is considered a transaction between Related Parties as defined Item 404 of Regulation S-K – Transactions with Related Persons,
under the Securities Act of 1933, as amended.

 

The
Holder is providing a short-term loan to the Company as an investment for his own investment portfolio.

 

ARTICLE I

 

PAYMENT AND INTEREST

 

Section 1.1 Payment.
All payments will be made in lawful money of the United States of America at the principal office of the Company, or at such other place
as the Holder may from time to time designate in writing to the Company. The Note shall bear interest at the rate of five percent (5%)
per annum. Full Payment shall be made the Holder on or before August 8, 2021. There shall be no prepayment penalties.

 

 

    	  

    	 

    

 

 

 

  

ARTICLE II

 

REPRESENTATIONS
OF THE COMPANY

 

Representations
and Warranties of the Company. In connection with the transactions contemplated by this Note, the Company hereby represents and warrants
to the Holder as follows:

 

Section 2.1 Due
Organization; Qualification and Good Standing. The Company is a corporation duly organized, validly existing and in good standing
under the laws of the State of Nevada and has all requisite corporate power and authority to carry on its business as now conducted.
The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify or
to be in good standing would have a material adverse effect on the Company.

 

Section 2.2 Authorization
and Enforceability. All corporate action has been taken on the part of the Company and its officers, directors and stockholders necessary
for the authorization, execution and delivery of this Note. Except as may be limited by applicable bankruptcy, insolvency, reorganization
or similar laws relating to or affecting the enforcement of creditors’ rights, the Company has taken all corporate action required
to make all of the obligations of the Company reflected in the provisions of this Note valid and enforceable in accordance with its terms.

  

 

ARTICLE III

 

REPRESENTATIONS
OF THE HOLDER

 

Representations
and Warranties of the Holder. In connection with the transactions contemplated by this Note, the Holder hereby represents and warrants
to the Company as follows:

 

Section 3.1 Authorization.
The Holder has full power and authority (and, if an individual, the capacity) to enter into this Note and to perform all obligations
required to be performed by it hereunder. This Note, when executed and delivered by the Holder, will constitute the Holder’s valid
and legally binding obligation, enforceable in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance and any other laws of general application affecting enforcement of creditors’
rights generally, and (b) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable
remedies.

 

Section 3.2 Purchase
Entirely for Own Account. The Holder acknowledges that this Note is made with the Holder in reliance upon the Holder’s representation
to the Company, which the Holder hereby confirms by executing this Note, that this Note will be acquired for investment for the Holder’s
own account.

 

Section 3.3 Disclosure
of Information; Non-Reliance. The Holder acknowledges that he has received all the information he considers necessary or appropriate
to enable him to make an informed decision concerning this Note. The Holder further represents that he has had an opportunity to ask
questions and receive answers from the Company regarding the terms and conditions. The Holder confirms that the Company has not given
any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial, accounting
or otherwise) of an investment in the Note. In deciding to purchase the Note, the Holder is not relying on the advice or recommendations
of the Company and has made his own independent decision that the investment in the Note is suitable and appropriate for the Holder.

 

    	  

    	 

    

 

Section 3.4 Investment
Experience. The Holder is an investor in securities of companies in the development stage and acknowledges that he is able to fend
for himself, can bear the economic risk of his investment and has such knowledge and experience in financial or business matters that
he is capable of evaluating the merits and risks of the investment in the Securities. Holder understands that his acquisition of the
Note involves substantial risk. Holder has experience as an investor in securities of private companies and companies in the development
stage and acknowledges that Holder is able to fend for himself, can bear the economic risk of his investment in the Note and has such
knowledge and experience in financial or business matters that Holder is capable of evaluating the merits and risks of this investment
in the Note and protecting his own interests in connection with this investment.

 

Section 3.4. Transactions
Between Related Parties. The Holder is a director of the Company and thus an affiliate of the Company as defined Rule 405 under the Securities
Act of 1933, as amended. The purchase of this Note is considered a transaction between Related Parties as defined Item 404 of Regulation
S-K – Transactions with Related Persons, under the Securities Act of 1933, as amended.

 

ARTICLE IV

 

MISCELLANEOUS

 

Section 4.1 Successors
and Assigns. This Note is fully assignable at the option of the Holder.

 

Section 4.2 Choice
of Law. This Note, and all matters arising out of or relating to this Note, whether sounding in contract, tort, or statute will be
governed by and construed in accordance with the internal laws of the State of California, without giving effect to the conflict of laws
provisions thereof to the extent such principles or rules would require or permit the application of the laws of any jurisdiction other
than those of the State of California.

 

Section 4.3 Counterparts.
This Note may be executed in counterparts, each of which will be deemed an original.

 

Section 4.4 Titles
and Subtitles. The titles and subtitles used in this Note are included for convenience only and are not to be considered in construing
or interpreting this Note.

 

Section 4.5 Notices.
All notices and other communications given or made pursuant hereto will be in writing and will be deemed effectively given: (a) upon
personal delivery to the party to be notified; (b) when sent by email or confirmed facsimile; (c) five (5) days after having been sent
by registered or certified mail, return receipt requested, postage prepaid; or (d) one (1) day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt.

 

    	  

    	 

    

 

Section 4.6 No
Finder’s Fee. Each party represents that it neither is nor will be obligated to pay any finder’s fee, broker’s
fee or commission in connection with the transactions contemplated by this Note. The Holder agrees to indemnify and to hold the Company
harmless from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of
the transactions contemplated by this Note (and the costs and expenses of defending against such liability or asserted liability) for
which the Holder or any of its officers, employees or representatives is responsible. The Company agrees to indemnify and hold the Holder
harmless from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of
the transactions contemplated by this Note (and the costs and expenses of defending against such liability or asserted liability) for
which the Company or any of its officers, employees or representatives is responsible.

 

Section 4.7 Attorneys’
Fees. If any action at law or in equity is necessary to enforce or interpret the terms of this Note, the prevailing party will be
entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other relief to which such party may
be entitled.

 

Section 4.8 Entire
Agreement; Amendments and Waivers. This Note constitutes the full and entire understanding and agreement between the parties with
regard to the subject hereof. Any term of this Note may be amended and the observance of any term may be waived (either generally or
in a particular instance and either retroactively or prospectively) with the written consent of the Company and the Holder.

 

Section 4.9 Severability.
If one or more provisions of this Note are held to be unenforceable under applicable law, such provisions will be excluded from this
Note and the balance of the Note will be interpreted as if such provisions were so excluded and this Note will be enforceable in accordance
with its terms.

  

Section 4.10 Further
Assurances. From time to time, the parties will execute and deliver such additional documents and will provide such additional information
as may reasonably be required to carry out the terms of this Note and any agreements executed in connection herewith.

 

Section 4.11 Waiver
of Jury Trial. EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
NOTE, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND
ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION,
CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION
HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO
HEREBY FURTHER REPRESENTS AND WARRANTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY
AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

 

(end of sections
– signature page(s) follow)

 

    	  

    	 

    

 

 

AGREED TO IN
THIS 8TH OF JUNE IN THE YEAR OF 2021:

 

 

FOR THE COMPANY:

 

 X   /s/
Arman Tabatabaei

ARMAN TABATABAEI

CEO

CANNABIS GLOBAL,
INC.

 

 

FOR THE HOLDER:

 

 

X   /s/
Edward Manolos

EDWARD MANOLOS

 

 

(END)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00331-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00331-of-00352.parquet"}]]