Sentences with phrase «of a key employee»

Company - owned life insurance is one way to help protect a business from financial problems caused by the unexpected death of a key employee, partner, or co-owner.
Maybe it will be the loss of a key employee.
Typically, the business will buy life insurance on the life of the key employee.
Key man disability insurance is purchased on one or more key people in a business to protect the business from the economic loss associated with the disability of a key employee.
They may lose a number of key employees, but their bench is deep, and the business won't be harmed.
Simply put, taking care of key employees is taking care of your business.
However, it is possible to insure more than two people, say for example in the case of some key employees.
There is no easy formula for determining the value of a key employee.
The policy should also outline the review process and the roles and responsibilities of key employees for the adoption and implementation of any cloud services.
The restaurant prides itself on long retention of its key employees.
Your organization could lose profits generated by the special talents or contacts of the key employee.
Search the internet for the names of the key employees at the agency.
For an employee who owns no equity in the business, the maximum amount of key employee life insurance a business can buy is 10 times the employee's annual income.
The death proceeds may also be used to make payments to the survivors of the key employee.
He has not said whether he will run again but recent moves — including the protection of key employees — signals that he expects to leave.
Many successful businesses recognize the importance of their key employees and use executive benefit plans to provide added supplemental benefits.
The company's cost for the plan is minimal and may be funded with a cash value life insurance policy that is purchased by the company for the benefit of a key employee.
You can't count on cash flow to for sure be there when needed, like for the unexpected death of a key employee.
Examples are insurance owned by a business on the life of a key employee and insurance owned by a business partner on the life of another partner.
Simply put, taking care of key employees is taking care of your business.
Even if there is no contract, obligations to respect confidential information, and fiduciary duties (in the case of key employees) last beyond the end of employment and can limit competition.
If retention of key employees is a condition of sale, determine what is necessary to secure their employment, or continued employment.
Your organization could lose profits generated by the special talents or contacts of the key employee.
The key is if a business owner pays premiums on behalf of a key employee as part of an executive bonus plan, deferred compensation plan or split dollar plan, the premiums may be deductible if they are recognized as income to the employee.
Key - employee insurance indemnifies you against losses resulting from the death or disability of a key employee in your firm, including yourself or your partners.
The key is if a business owner pays premiums on behalf of a key employee as part of an executive bonus plan, deferred compensation plan or split dollar plan, the premiums may be deductible if they are recognized as income to the employee.
However, policy loans can be another incentive an employer uses to maintain the loyalty of a key employee, particularly if the split dollar plan requires any policy loan to be repaid if the employee has not been with the company for the requisite amount of time.
How a split dollar plan is structured will depend upon the specific goals and concerns of the business owner AS WELL AS the specific situation of the key employee.
It describes how a business can continue to operate, and to make money, not just in the event of a disaster, but also following smaller disruptions, e.g. the departure of key employees such as the CEO, problems with suppliers, fraud or criminal activity, negative publicity or cyber-attacks.
In the event of the key employee's death, the policy's death benefit is payable to the company which can be used to provide continued supplemental benefits or to provide a lump sum benefit to the executive's named beneficiary.
The goal when valuing a key person for life and disability insurance is to get the correct amount of coverage based on the specific needs of the business but that also corresponds to the realistic loss associated with the death or disability of the key employee from the insurance company's viewpoint.
Rumours of a pending sale of a business or layoffs are worrisome and distracting to employees, resulting in lost productivity, higher benefit costs, poorer client relations and service, and attrition of key employees.
One approach is to buy two or more PhoneGnomes to make free calls among branch offices and the homes of key employees (a two - pack is $ 199).
«Also, a number of our key employees here in Canada are originally from India, so having operations there makes it easier than in China.»
«A lot of my key employees spent weeks in training classes around the country.
These items include (but are not limited to) determining the value of the farm, retirement planning for the transferor, strategic business planning, transition of key employees, treatment of non-farming versus farming children, and the overall tax considerations.»
List any supporting information or other additional information that you couldn't fit in elsewhere, such as resumes of key employees, licenses, equipment leases, permits, patents, receipts, bank statements, contracts, and personal and business credit history.
We work with clients to implement employment agreements, employee equity programs, retention agreements, and other incentive programs in ways to ensure the services of key employees during the postacquisition period.
She has also done a considerable amount of work relating to the drafting and enforcement of restrictive covenants and the post-employment obligations of key employees.
Restrictive covenants are often utilized by employers to govern the post-employment activities of key employees.
Our experience includes providing sophisticated advice on: the purchase and sale of businesses and their assets; corporate governance and management issues; confidentiality and non-compete agreements; employment agreements; vendor and supplier agreements; professional services agreements; the addition or termination of key employees; and many other transactional matters.
(f) each of [NAME OF KEY EMPLOYEES] entering into employment agreements with Buyer on terms agreed with Buyer;
With key man insurance in place, if one of your key employees goes down, your business will receive the proceeds of the policy and can sustain operations until contingencies plans are finalized.
Protect your business against the financial implications that can arise from the untimely death or disablement of a key employee.

Phrases with «of a key employee»

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