Key Employee

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Key Employee

A very important employee. A key employee may have contacts highly beneficial to the company, may work hard and generate more revenue than any other employee, or may have some other skill that would be difficult or impossible to replicate in another employee. Often, but not always, a key employee is a manager. A company may purchase key person insurance to protect itself against the possibility that an employee may unexpectedly die or become unable to work, which would deprive the company of his/her skills.
References in periodicals archive ?
Zurich notes that the loss of a key person at an SME could not only have an adverse impact on profitability, it could also impact the ability of the surviving business owners to pay out business liabilities and sustain the life of the business.
In the event of losing a key person, either through critical illness or death, the company's future profit and survival is at risk.
According to the guidelines, the term key persons refers to members of an issuer's board of directors, senior management, the issuer itself, and such other persons as decided by the issuer's board, as they have access to insider information.
The publication quotes an earlier report by Mediapool that the project will be officially launched November 11, including references to key persons speculated to be participating, which come from a wide array of political backgrounds and whose putting together has all appearances of creative journalistic patchwork.
As so many of us are still suffering from the setbacks of recession, SMEs are particularly at risk should they lose the key person in their business.
5 million each and key persons involved in the conspiracy were removed from their positions in the paper merchant business.
These companies, however, have no idea of how to approach foreign companies, due to a lack of contact with the key persons, the appropriate sales and marketing approach, language communications, etc.
Paddy Murray, chairman of Rathenraw Residents Association in Antrim, is seeking a judicial review of the decision refusing to admit him to the Key Persons Protection Scheme.
AICPA Key Persons for the House Ways and Means Committee have been asked to seek the support of their members of Congress for H.
Metso Corporation's Board of Directors has decided on the maximum number of options and on the earnings criteria by which 2003A stock options can be distributed to key persons of Metso Corporation in the spring of 2004.
ALL-LAS has contracted the key persons of the former company.