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SEC Filings

424B3
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form 424B3 on 09/01/1999
Entire Document
 
<PAGE>   435
             R/N SOUTH FLORIDA CABLE MANAGEMENT LIMITED PARTNERSHIP
 
           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED)
 
interpartnership loan at December 31, 1998 was $31,222,436. The effective
interest rate at December 31, 1998 was 8.5%.
 
4.  MANAGEMENT AGREEMENT
 
     The Partnerships have entered into a management agreement with Rifkin &
Associates, Inc. (Rifkin). The management agreement provides that Rifkin shall
manage the Operating Partnership and shall be entitled to annual compensation of
4% of gross revenues. Effective September 1, 1998, Rifkin conveyed its CATV
management business to R & A Management, LLC (RML). The result of this
transaction was the conveyance of the Rifkin management agreement (Rifkin
Agreement) to RML (RML Agreement). Expenses incurred pursuant to the Rifkin
Agreement and the RML Agreement are disclosed on the Consolidated Statement of
Operations.
 
5.  LEASE COMMITMENTS
 
     At December 31, 1998, the Operating Partnership had lease commitments under
long-term operating leases as follows:
 

<TABLE>
<S>                                                    <C>
1999.................................................  $195,437
2000.................................................   189,643
2001.................................................   116,837
                                                       --------
          Total......................................  $501,917
                                                       ========
</TABLE>

 
     Rent expense, including pole rent, was as follows for the periods
indicated:
 

<TABLE>
<CAPTION>
                                                        TOTAL
                                                        RENTAL
PERIOD                                                 EXPENSE
------                                                 --------
<S>                                                    <C>
Year Ended December 31, 1996.......................    $262,231
Year Ended December 31, 1997.......................     279,655
Year Ended December 31, 1998.......................     295,107
</TABLE>

 
6.  RETIREMENT BENEFITS
 
     The Operating Partnership has a 401(k) plan for its employees that have
been employed by the Operating Partnership for at least one year. Employees of
the Operating Partnership can contribute up to 15% of their salary, on a
before-tax basis, with a maximum 1998 contribution of $10,000 (as set by the
Internal Revenue Service). The Operating Partnership matches participant
contributions up to a maximum of 50% of the first 3% of a participant's salary
contributed. All participant contributions and earnings are fully vested upon
contribution and Operating Partnership contributions and earnings vest 20% per
year of employment with the Operating Partnership, becoming fully vested after
five years. The Operating Partnership's matching contributions for the years
ended December 31, 1996, 1997 and 1998 were $15,549, $23,292 and $20,652,
respectively.
 
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