Creator Killer: This was the first film directed by Steven Seagal, and its terrible reviews and underwhelming box-office performance ensured that he would never get the chance to direct a second.note (At least, not officially, since he's rumored to have uncreditedly directed parts of The Patriot and several of his later direct-to-DVD films)
Money, Dear Boy: The only possible reason that Michael Caine appeared in this film. And it is - around that time, he couldn't find many opportunities for work so he took what he could. Also the only possible reason they could have gotten R. Lee Ermey to be a moron here. And Joan Chen must have needed some money too...
Old Shame: Michael Caine, arguably. He needed work in the 90's and did it since it was a job. Seagal and Caine reportedly did not get along either, with Seagal (never really known for his "acting" - and that's putting it generously) reportedly talking down to Caine (who at the time had one Best Supporting Actor Oscar to his name with three nominations for leading roles) all throughout shooting.
According to his own memoir, Caine actually did get along with Seagal. He just really hated working in Alaska.
Star-Derailing Role: Steven Seagal had risen to A-list status with Under Siege two years prior, but this film quickly put an end to that. The somewhat successful Under Siege 2 the next year ensured that his career wasn't completely killed, and he carried on making middle-tier action films until The Patriot all but finished him as a major action star.