| K |

M&A Term	Definition	Note
Key Employee	Employee who is of particular importance to the company.	N5
Key Performance Indicator (KPI)	A defined measure, often of a financial nature, which is used to determine whether targets have been met (for example in the context of Management Participation).	N2
Key Person Discount	an amount or percentage deducted from the value of an operating business to reflect the reduction in value resulting from the actual or potential loss of a key person upon which the business is highly dependent.	N7
Keyman Policy	life assurance policies taken out on certain key executives. May be required as a Condition Precedent to some Credit Facilities. No doubt should be called Keyperson Policy.	N1
Keynesian economics	School of economic thought (named after John Maynard Keynes) which advocates government intervention and spending to manage the economy, promote growth and control prices.	N6
Kickback	colloquial for a bribery performance	N1
Kick-back	Partial refund of an amount paid to a third party, representing a kind of commission, or any kind of facilitation payment; arrangements of this type often pose problems from a legal viewpoint.	N2
Kick-off	Launch event at the start of a transaction. Kick-off calls by phone are sometimes arranged instead of a physical kick-off meeting.	N2
Kingdom	the Kingdom of Saudi Arabia	N1
Know Your Client	refers to policies in place and information required to establish a client’s identity to safeguard against money laundering risks and to comply with multi-jurisdictional regulatory requirements. See Anti-Money Laundering, AML and KYC.	N1
Knowledge Qualifier	Warranties are limited to actual knowledge, rather than applying to the objective facts (see also Best Knowledge).	N2
KPI	Key Performance Indicator.	N2
KSA	the Kingdom of Saudi Arabia	N1
kurtosis	Measure of the relative peakedness or flatness of a statistical distribution compared to the normal distribution (a statistical distribution often used as a fairly good approximation of reality because it is mathematically easy to manipulate). A normal distribution has kurtosis of 3. Higher kurtosis indicates a relatively peaked distribution and a higher frequency of observations in the tails of the distribution. Lower kurtosis indicates a relatively flat distribution. Equity market returns generally have a higher kurtosis than the normal distribution — in other words, they are “fat-tailed”.	N6
KYC	acronym for Know Your Client	N1

Reference

N1: referring to The Book of Jargon – Global Mergers & Acquisitions, first edition, the Latham & Watkins, available at https://www.lw.com/admin/Upload/Documents/BoJ_Global_MandA-locked-March-2015.pdf.

N2: referring to Glossary of Key M&A and Corporate Terms, 4th edition, Dr Anne Meckbach and Dr Tobias Grau, available at https://cms.law/en/deu/publication/glossary-of-key-m-a-and-corporate-terms-2020.

N3：referring to M&A Dictionary, Global PMI Partners, available at https://gpmip.com/dictionary/.

N4：referring to M&A jargon demystified, KPMG, available at https://issuu.com/kpmg_be/docs/kpmg_m_a_vakjargon_en_digital.

N5: referring to Simple Guide to M&A Terminology and Jargon, Lucas & Weston Ltd., available at https://uploads-ssl.webflow.com/5708da760dd2dc033a78bd13/5b7ea45f3dbc72645fbee4b2_L%26W%20-%20M%26A%20Glossary.pdf.

N6：referring to INVESTMENT DICTIONARY, MARSH & McLENNAN COMPANIES, available at https://www.mercer.com/content/dam/mercer/attachments/europe/Netherlands/ic-dictionary-mercer.pdf.

N7: referring to International Valuation Glossary—Business Valuation, November 2021, jointly published by ASA, CBV Institute, RICS and TAQEEM, available at https://www.appraisers.org/docs/default-source/default-document-library/international-business-valuation-glossary_en_final.pdf?sfvrsn=e37c69d4_2.

The above information is collected from the Internet and reorganized for the purposes of learning and sharing only and not for any other purposes. It can not be guaranteed to be error-free.