key man

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Key employees or managers may seem like the best buyer for your business: You already have an existing relationship, they understand the business, and it can be seen as a reward for years of loyal and hard work.
If an employer can help a key employee supplement his or her retirement income, loyalty and motivation are quick to follow.
Under these facts and circumstances, S does not meet the responsibility test and thus is not a key employee of T.
Compliance in this area became important for certain tax-exempt organizations in the mid-1990s when intermediate sanctions were introduced to impose penalty taxes on key employees who receive unreasonable compensation and managers who knowingly approve it.
Whatever the method, Garavatti and Westphal agree that the dollar value of a key employee is something to be decided with the guidance of the company's accounting and legal advisors.
The principles relating to key employees will also apply to employee stock ownership plans (ESOPs).
Key employees are feeling overworked, underappreciated and underpaid and employers know they need to do something about it.
Now, deciding who is a key employee is based on distribution records going back only one year.
Sales to key employees often make sense when the owner has no partners or children who are interested and qualified to assume ownership responsibilities.
Additionally, under either a discriminatory or nondiscriminatory plan, a key employee may exclude all imputed cost under a group-term life insurance plan provided to him or her after disability.
A company can implement a nonqualified deferred compensation plan that pays a key employee a significant amount upon retirement at a predetermined age (annually or in a lump sum) or pays an actuarially reduced amount if early retirement is caused by disability or a death benefit if death occurs before retirement.