To put it simple: If the key is under the two years hardware-warranty, it'd be necessary to send the key to us. Once the key arrived in our office, you'd get a new key, a 48h demo license to complete ongoing projects, and you'll receive the replacement licenses for free. If the key is outside the warranty you could purchase replacement licenses for EUR 20.- per license.
If the key holds a valid Vienna Protection Plan, you'd get a 50h Emergency License to complete ongoing projects and you'll receive the replacement licenses for free.
To possess an additional spare key is a good solution anyway!
Best, Michael Hula
VSL Support