Document:

EXHIBIT 10.1

                         THE PERFORMANCE INCENTIVE PLAN
                            OF THE COCA-COLA COMPANY

               as amended and restated effective January 1, 2003

                               I. PLAN OBJECTIVE

     The purpose of The Performance Incentive Plan of The Coca-Cola Company is
to promote the interests of The Coca-Cola Company (the "Company") by providing
additional incentive for participating officers and other key employees who
contribute to the improvement of operating results of the Company and to reward
outstanding performance on the part of those individuals whose decisions and
actions most significantly affect the growth and profitability and efficient
operation of the Company.

                                II. DEFINITIONS

     The terms used herein will have the following meanings:

     "Award" means an amount awarded under the Plan to a Participant based upon
the participant's base salary and as calculated pursuant to Section VI of the
Plan.

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

     "Company" means The Coca-Cola Company.

     "Compensation Committee" means the Compensation Committee of the Board.

     "Employee" means any person regularly employed on a full-time basis by the
Company or a Related Company.

     "Management Committee" means the committee appointed by the compensation
Committee to administer the Plan.

     "Participant" means an Employee who satisfies the eligibility requirements
set forth in Section IV of the Plan.

     "Plan" means this Performance Incentive Plan of The Coca-Cola Company.

     "Plan Year" means the 12-month period beginning January 1 and ending
December 31.

     "Related Company" means any corporation or business organization in which
the Company owns, directly or indirectly, during the relevant time, 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 other entity's financial results to
be consolidated with the Company's financial results for financial reporting
purposes.

                              III. ADMINISTRATION

     The Plan will be administered by the Compensation Committee and/or the
Management Committee. The Compensation Committee and/or the Management Committee
will determine which of the Participants to whom, and the time or times at
which, Awards will be granted under the Plan, and the other conditions of the
grant of the Awards. The provisions and conditions of the grants of Awards need
not be the same with respect to each grantee or with respect to each Award.

<PAGE>

     The Compensation Committee will, 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 will make determinations and will take
such other action in connection with or in relation to accomplishing the
objectives of the Plan as it deems necessary or advisable. Each determination or
other action made or taken by the Compensation Committee or the Management
Committee pursuant to the Plan, including interpretation of the Plan and the
specific conditions and provisions of the Awards granted hereunder will be final
and conclusive for all purposes and upon all persons including, but without
limitation, the Company, any Related Company, the Compensation Committee, the
Management Committee, the Board, officers, the affected employees of the Company
or Related Companies, and any Participant or former Participant under the Plan,
as well as their respective successors in interest.

                                IV. ELIGIBILITY

     Eligibility for participation in the Plan is limited to those Employees who
can make an appreciable contribution to the attainment of overall business
objectives of the operating unit for which they work as determined in the sole
discretion of the Compensation Committee or the Management Committee. An
Employee is eligible to participate in the Plan if:

     a.   The Employee is compensated in an amount at least equal to the minimum
          salary grade or other guideline established annually by the Management
          Committee.

     b.   During the Plan Year, the Employee is not participating in the
          Executive Incentive Performance Program of the Executive and Long-Term
          Performance Incentive Plan of The Coca-Cola Company.

     c.   The Employee is recommended for participation in the Plan by his or
          her immediate superior and is approved for such participation by the
          operating head of the Employee's unit.

     d.   The Employee is approved as a Participant by the Management Committee.

     The fact that an Employee is eligible to participate in the Plan in one
Plan Year does not assure that the Employee will be eligible to participate in
any subsequent year. The fact that an Employee is eligible to participate in the
Plan for any Plan Year does not mean that the Employee will receive an Award in
any Plan Year. The Management Committee will determine an Employee's eligibility
for participation in the Plan from time to time prior to or during each Plan
Year.

                              V. PERFORMANCE GOALS

     Each operating unit of the Company shall set performance goals and
objectives for each Plan Year which in the aggregate form the Company's overall
goals and objectives for that Plan Year. Individual goals and objectives for
each Participant will be established within the context of the goals of that
Participant's operating unit. All goals shall be established by the Management
Committee.

                                       2
<PAGE>

                                   VI. AWARDS

     An Award to a Participant will be based on a percentage of the
Participant's base salary and shall be established by the Management Committee.
The percentage of base salary which constitutes an Award will increase as salary
grade or level of responsibility increases.

     The Compensation Committee or the Management Committee shall, in each of
their respective sole discretion, adjust the Award for each Participant based
upon that Participant's over achievement or under achievement in terms of his or
her individual performance and the performance of the Participant's operating
unit during the Plan Year.

     An Employee who is selected as a Participant after the beginning of a Plan
Year or a Participant who retires, who dies or whose employment is otherwise
terminated prior to the end of such Plan Year will be eligible to receive a pro
rata share of an Award based on the number of months of participation during any
portion of such Plan Year if, in the sole discretion of the Compensation
Committee or the Management Committee, such an award is merited.

                    VII. DETERMINATION AND TIMING OF AWARDS

     All Awards to Participants who are officers or assistant officers of the
Company will be made by the Compensation Committee in its sole discretion.
Awards to all other Participants shall be made by the Management Committee in
its sole discretion. Awards will be paid for a particular Plan Year at such time
following the end of the Plan Year as shall be determined by the Compensation
Committee or the Management Committee.

                       VIII. METHOD OF PAYMENT OF AWARDS

     a. PAYMENTS OF AWARDS. Except as otherwise provided in this Plan, Awards
for each Participant will be paid in one of the manners set forth in Sections
VIII (a)(1), (a)(2) or (a)(3), as determined on a case-by-case basis in the sole
discretion of the Compensation Committee or the Management Committee. Awards are
subject to forfeiture until paid, as provided below.

               1. CASH. The Compensation Committee or the Management Committee
          may, in its sole discretion, pay any Award in cash. Awards paid in
          cash will be paid at the time described in Section VII above unless
          the Compensation Committee or the Management Committee has approved a
          request by a Participant to defer receipt of any Award in accordance
          with Section VIII(b) below.

               2. STOCK OPTIONS. The Compensation Committee may, in its sole
          discretion, pay any Award through the grant of stock options under The
          Coca-Cola Company 2002 Stock Option Plan, as amended, or successor
          stock option plan approved by shareowners (the "Stock Option Plan").
          Any Award issued in the form of stock options shall be subject to the
          terms and conditions of the Stock Option Plan.

               3. STOCK. The Compensation Committee may, in its sole discretion,
          pay any Award by issuing to a Participant stock under The Coca-Cola
          Company 1989 Restricted

                                       3
<PAGE>

          Stock Award Plan, as amended, or any successor restricted stock award
          plan approved by shareowners (the "Restricted Stock Plan"). Any Award
          issued in the form of stock shall be subject to the terms and
          conditions of the Restricted Stock Plan.

     b. DEFERRAL OF PAYMENT OF AWARD. An Award may be deferred under the
Deferred Compensation Plan of The Coca-Cola Company (or comparable international
plan, if any) pursuant to the terms of the Deferred Compensation Plan.

     c. WITHHOLDING FOR TAXES. The Company will have the right to deduct from
any and all Award payments any taxes required to be withheld with respect to
such payment, including hypothetical taxes under the Company's International
Service Program Policy.

     d. PAYMENTS TO ESTATES. Awards which are due to a Participant pursuant to
the provisions hereof and which remain unpaid at the time of his or her death
will be paid in full to the Participant's estate.

                         IX. AMENDMENT AND TERMINATION

     The Compensation Committee may amend, modify, suspend, reinstate or
terminate this Plan in whole or in part at any time or from time to time;
provided, however, that no such action will adversely affect any right or
obligation with respect to any Award theretofore made. The Compensation
Committee and the Management Committee may deviate from the provisions of this
Plan to the extent such committee deems appropriate to conform to local, laws
and practices.

                               X. APPLICABLE LAW

     The Plan and all rules and determinations made and taken pursuant hereto
will be governed by the laws of the State of Georgia, to the extent not
preempted by federal law, and construed accordingly.

                          XI. EFFECT ON BENEFIT PLANS

     Awards may be included in the computation of benefits under the Employee
Retirement Plan of The Coca-Cola Company, The Coca-Cola Export Corporation
Overseas Retirement Plan and other retirement plans maintained by the Company
under which the Participant may be covered and The Coca-Cola Company Thrift &
Investment Plan subject to all applicable laws and in accordance with the
provisions of those plans.

     Awards will not be included in the computation of benefits under any group
life insurance plan, travel accident insurance plan, personal accident insurance
plan or under Company policies such as severance pay and payment for accrued
vacation, unless required by applicable laws.

                                       4
<PAGE>

                             XII. CHANGE IN CONTROL

     If there is a Change in Control as defined in this Section XII at any time
during a Plan Year, (1) the Management Committee promptly shall determine the
Award which would have been payable to each Participant under the Plan for such
Plan Year if he had continued for work for the Company for such entire year and
all performance goals established under Section V had been met in full for such
Plan Year by multiplying his target percentage by his annual salary as in effect
on the date of such Change in Control and (2) each such Participant's
nonforfeitable interest in his Award (as so determined by the Management
Committee) thereafter shall be determined by multiplying such Award by a
fraction, the numerator of which shall be the number of full, calendar months he
is an employee of the Company during such Plan Year and the denominator is 12 or
the number of full calendar months the Plan is in effect during such Plan Year,
whichever is less. The payment of a Participant's nonforfeitable interest in his
Award under this Section XII shall be made in cash as soon as practicable after
his employment by the Company terminates or as soon as practicable after the end
of such Plan Year, whichever comes first.

     A "Change in Control," for purposes of this Section XII, will 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 Securities Exchange
Act of 1934 (the "Exchange Act") as in effect on January 1, 2003, provided that
such a change in control will 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 as in effect on January 1, 2003) is or becomes the beneficial owner (as
defined in Rule 13d-3 under the Exchange Act as in effect on January 1, 2003)
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 cease, for any reason, to constitute at least a majority
of the Board, 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 its stock will 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 will 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 will be deemed to have occurred if, prior to such time
as a Change in Control would otherwise be deemed to have occurred, the Board
determines otherwise.

                                       5EXHIBIT 10.2

                             THE COCA-COLA COMPANY
              2002 STOCK OPTION AND STOCK APPRECIATION RIGHT PLAN

Section 1.   Purpose

     The purpose of The Coca-Cola Company 2002 Stock Option and Stock
Appreciation Right 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. Unless and
     until its members are not qualified to serve on the Committee pursuant to
     the provisions of the Plan, the Stock Option Subcommittee of the
     Compensation Committee of the Board shall function as the Committee.
     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 the optionee meets the definition of
     "disabled" under the terms of the Company's Long Term Disability Income
     Plan in effect on the date in question, whether or not the optionee is
     covered by such plan.

<PAGE>

     "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.

     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

                                      -2-

<PAGE>

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 or SARs 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.

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 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.

                                      -3-
<PAGE>

          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.

          (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.

                                      -4-

<PAGE>

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:

<TABLE>

<CAPTION>
<S>      <C>                         <C>                               <C>

         Event                       Impact on Vesting                   Impact on Exercise Period
------------------------------------------------------------------------------------------------------------

Employment terminates upon      All Options and SARs become             Option/SAR expiration date provided
Disability.                     immediately vested.                     in grant continues to apply.
------------------------------------------------------------------------------------------------------------
Employment terminates upon      Options and SARS held at least 12       Option/SAR expiration date provided
Retirement.                     full calendar months become             in grant continues to apply.
                                immediately vested; Options and
                                SARs held less than 12 full calendar
                                months are forfeited.
------------------------------------------------------------------------------------------------------------
Employment terminates upon      All Options and SARs become             Right of executor, administrator
death.                          immediately vested.                     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      All Options and SARs become             Option/SAR expiration date provided
Change in Control.              immediately vested.                     in grant continues to apply.
------------------------------------------------------------------------------------------------------------
Termination of employment       Unvested Options and SARs are           Options/SARs expire upon the earlier
where optionee receives         forfeited.                              of (1) the end of the severance
severance payment(s).                                                   period, but not less than 6 months
                                                                        from the termination date, or
                                                                        (2) the Option/SAR expiration date
                                                                        provided in grant.
-------------------------------------------------------------------------------------------------------------
Termination of employment       Unvested Options are forfeited.         Expires upon earlier of (1) 6 months
where optionee does not                                                 from termination date, or (2) Option/
receive severance payment(s).                                           SAR expiration date provided in grant.
-------------------------------------------------------------------------------------------------------------
US Military leave.              Vesting continues during leave.         Option/SAR expiration date provided
                                                                        in grant continues to apply.
-------------------------------------------------------------------------------------------------------------
Eleemosynary service.           Committee's discretion.                 Committee's discretion.
-------------------------------------------------------------------------------------------------------------
US FMLA leave of absence        Vesting continues during leave.         Option/SAR expiration date provided
                                                                        in grant continues to apply.
-------------------------------------------------------------------------------------------------------------

</TABLE>

                                      -5-
<PAGE>

<TABLE>

<CAPTION>
<S>      <C>                         <C>                               <C>

         Event                       Impact on Vesting                   Impact on Exercise Period
-------------------------------------------------------------------------------------------------------------
Optionee's employer is no       Unvested Options and SARs are           Expires upon earlier of (1) 6 months
longer a Related Company        forfeited.                              from termination date or (2) Option/
(this constitutes a                                                     SAR expiration date provided in grant.
termination of employment
under the Plan, effective
the date the Company's
investment falls below
20%).
-------------------------------------------------------------------------------------------------------------
Employment transferred to       Vesting continues after transfer.       The Option/SAR expiration date
Related Company                                                         provided in the grant continues to
                                                                        apply.
-------------------------------------------------------------------------------------------------------------
Death after employment has      Not applicable.                         Right of executor, administrator of
terminated but before option                                            estate (or other transferee permitted
has expired.  Note:  Termina-                                           by Section 8) terminates on earlier
tion of employment may have                                             of (1) 12 months from the date of
resulted in a change to the                                             death, or (2) the Option/SAR expira-
original Option/SAR expira-                                             tion date that applied at the date
tion date provided in the                                               of death.
grant.
-------------------------------------------------------------------------------------------------------------

</TABLE>

     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.

     (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

                                      -6-
<PAGE>

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.

     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.

                                     - 7 -

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