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SEC Filings

KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
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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
suits or claims will  result in a material  adverse  impact on the  consolidated
financial position 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
applicable officer. In addition to providing a base salary for each officer, the
employment  agreements  provide for severance  payments for each officer varying
from 12 to 36 months of the  officer's  base  salary.  The  current  annual base
salaries  for the  officers  covered  under  such  employment  agreements  total
approximately $800,000.