Presenting the award with Cole will be jazz great Ornette Coleman, Cole's record label, Verve, announced.
Cole won a Grammy in the Best New Artist category in 1976 for her debut album, "Inseparable."
She's also a Grammy nominee this year for Best Female R&B Vocal Performance, for her cover of Aretha Franklin's hit "Day Dreaming," the first single released from Cole's latest album, "Leavin'."
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