Different Tempos?

Insert->Tempo Change

Yes, you can have as many tempo changes as you like.

Old thread alert.

I love tempo changes, they breath the feel of humanity into the heart and soul of rock and roll, soul, R&B, and even Jazz and classical, or what ever actual humans do to make music.
 Also a GREAT WAY to knock the digitally inhumanly perfectly sterililized boredom out of the overly sensationalized, yet extremely BAD habit of quantization habits to correct mistakes due to lack of practice, or simply just being lazy, or trying to hard too sound like a top 40 Taylor Swift knockoff.
 
If you are using a known MIDI based time signature  (metronome) in your project, make sure the "snap to grid" is enabled, pause your project on the timeline on the exact beat where you want the tempo change to occur, go up to the top to the "Windows" toolbar and select "Insert" select "Tempo Change" and enter the "BPM" you want, hit enter.
 When you want it to go back the original tempo or change tempo again, repeat process above.
 
If the tempo of your project was not "User Specified MIDI" or synced with SEMPTE (video) or simply recording in freeform jamming mode before starting the project, then it will most likely default to 120 BPM not matter what the actual tempo is, make sure "Snap to grid" is disabled.