Define: Key Employee
What does "Key Employee" mean? The meaning differs based on the contract. We found 9 definitions across 6 companies in SEC filings.
Definition 1 (AFLAC INC, seen in 1 filing)
Key Employee means an employee who, on the last day of the prior calendar year, is a "specified employee" as defined in Code Section 409A(a)(2)(B)(i) and Treasury Regulation Section 1.409A-1(i) (or any successor provision), determined by the Administrative Committee in accordance with the rules prescribed under Code Section 409A.
Source: AFLAC INC 10-K
Definition 2 (CANADIAN PACIFIC KANSAS CITY LTD/CN, seen in 1 filing)
Key Employee means any employee or former employee of the employer (including any deceased employee) who at any time during the Plan Year that includes the determination date was an officer of the Company or an Affiliate having annual compensation greater than $130,000 (as adjusted under Code 416(i)(1) for Plan Years beginning after December 31, 2002), a five-percent owner of the Company or an Affiliate, or a one-percent owner of the Company having annual compensation of more than $150,000.
Source: CANADIAN PACIFIC KANSAS CITY LTD/CN 10-K
Definition 3 (FREEPORT-MCMORAN INC, seen in 1 filing)
Key Employee means any employee who meets the definition of key employee as defined in Section 416(i) of the Code.
Source: FREEPORT-MCMORAN INC 10-K
Definition 4 (Chubb Ltd, seen in 1 filing)
Key Employee means an Employee treated as a specified employee under Code Section 409A(a)(2)(B)(i) ( i.e. , a key employee (as defined in Code section 416(i) without regard to paragraph (5) thereof)) of the Company. Key Employees shall be determined by the Committee in accordance with Code Section 409A using a December 31 identification date. A listing of Key Employees as of an identification date shall be effective for the 12-month period beginning on the January 15 following the identification date.
Source: Chubb Ltd 10-K
Definition 5 (MICROSOFT CORP, seen in 1 filing)
Key Employee means an employee treated as a specified employee under Code section 409A(a)(2)(B)(i) as of such employee's Separation from Service (i.e., a key employee (as defined under Code section 416(i) without regard to paragraph (5) thereof) of a corporation any stock of which is publicly traded on an established securities market or otherwise). Key Employees shall be determined in accordance with Code section 409A, using a December 31 identification date. A listing of Key Employees as of an identification date shall be effective for the 12-month period beginning on the April 1 following the identification date.
Source: MICROSOFT CORP 10-K
Definition 6 (MICROSOFT CORP, seen in 1 filing)
Key Employee means an employee treated as a specified employee under Code section 409A(a)(2)(B)(i) as of his Separation from Service (i.e., a key employee (as defined under Code section 416(i) without regard to paragraph (5) thereof) of a corporation any stock of which is publicly traded on an established securities market or otherwise). Key Employees shall be determined in accordance with Code section 409A, using a December 31 identification date. A listing of Key Employees as of an identification date shall be effective for the 12-month period beginning on the April 1 following the identification date.
Source: MICROSOFT CORP 10-K
Definition 7 (Constellation Energy Corp, seen in 1 filing)
Key Employee means an employee listed each year by the Company on the Key Employee list as required by Treasury Regulation 1.409A-1(i), which shall generally be comprised of officers, and shall include but not be limited to the 50 most highly paid officers having annual compensation greater than $200,000 (as adjusted from time to time) 5% owners and 1% owners having annual compensation from the Company greater than $150,000 (as adjusted from time to time). Key Employees shall be identified as of December 31 of each year, and the Key Employee list shall take effect on April 1 of the year following.
Source: Constellation Energy Corp 10-K
Definition 8 (Constellation Energy Corp, seen in 1 filing)
Key Employee means an employee listed each year by the Company on the Key Employee List as required by Treasury Regulation 1.409A-1(i), which shall generally be comprised of officers, and shall include but not be limited to the 50 most highly paid officers having annual compensation greater than $200,000 (as adjusted from time to time) 5% owners and 1% owners that have annual compensation from the Company greater than $150,000 (as adjusted from time to time).
Source: Constellation Energy Corp 10-K
Definition 9 (Constellation Energy Corp, seen in 1 filing)
Key Employee means an employee listed each year by the Company on the Key Employee list as required by Treasury Regulation 1.409A-1(i), which shall generally be comprised of officers, and shall include but not be limited to the 50 most highly paid officers having annual compensation greater than $200,000 (as adjusted from time to time) 5% owners and 1% owners that have annual compensation from the Company greater than $150,000 (as adjusted from time to time). Key Employees shall be identified as of December 31 of each year, and the Key Employee list shall take effect on April 1 of the year following.
Source: Constellation Energy Corp 10-K
Data extracted from 9 SEC EDGAR filings across 6 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.