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KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
Entire Document

Presented  below is a schedule of the repayment  requirements  of long-term debt
for each of the next five years and thereafter as of June 30, 1995:

                         Fiscal year       Principal
                            Ended            Amount
                                  (in thousands)

                             1996          $   2,249
                             1997              9,527
                             1998              4,125
                             1999                  -
                             2000                  -
                             Thereafter           48
                                           $  15,949


Various suits and claims arising in the ordinary  course of business are pending
against Key.  Management  does not believe that the  disposition of any of these
items will result in a material  adverse  impact on the  consolidated  financial
position or results of operations of Key.

During August 1995, Key entered into  employment  agreements with certain of its
officers.  These employment  agreements generally run to June 30, 1998, but will
automatically  be extended on a yearly  basis  unless  terminated  by Key or the
officer. In addition to providing a base salary for the officer, each employment
agreement  provides  for a  severance  payment in amount  varying  from 12 to 24
months of the officer's  base salary.  The current  annual base salaries for the
officers covered under such employment agreements total approximately $800,000.


Other accrued liabilities consist of the following:

                                                             June 30,
                                                 1995                     1994
                                                         (in thousands)
Accrued payroll and taxes                       $ 624                    $ 597
Workers compensation                              704                      540
State sales and use taxes                         129                      109
Accrued property taxes                             79                       --
Gas imbalance - deferred income                   253                      454
Revenue distribution                              215                      399
Other                                             608                      627
                                                -----                    -----
Total                                          $2,612                   $2,726
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