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SEC Filings

S-4
AVALON CABLE OF MICHIGAN INC/ filed this Form S-4 on 04/01/1999
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  THE COMBINED OPERATIONS OF PEGASUS CABLE TELEVISION OF CONNECTICUT, INC. AND
         THE MASSACHUSETTS OPERATIONS OF PEGASUS CABLE TELEVISION, INC.
 
              NOTES TO COMBINED FINANCIAL STATEMENTS--(Continued)
 
 
9. Employee Benefit Plans (continued):
 
   All employee contributions to the 401(k) Plans are fully vested at all times
and all Company contributions, if any, vest 34% after two years of service with
the Company (including years before the 401(k) Plans were established), 67%
after three years of service and 100% after four years of service. A
participant also becomes fully vested in Company contributions to the 401(k)
Plans upon attaining age 65 or upon his or her death or disability.
 
10. Commitments and Contingent Liabilities:
 
 Legal Matters:
 
   The operations of PCT-CT and PCT-MA are subject to regulation by the Federal
Communications Commission ("FCC") and other franchising authorities.
 
   From time to time the Combined Operations are also involved with claims that
arise in the normal course of business. In the opinion of management, the
ultimate liability with respect to these claims will not have a material
adverse effect on the operations, cash flows or financial position of the
Combined Operations.
 
                                      F-63