The author deals with the questions of political allegiance of Panonia in the time of fights between the Great-Moravian and the Frank Empires, in which also the Hungarian took part, and rejects the thesis according to which Panonia was under the rule of the Great-Moravian state. The author rejects Hauptmann's thesis on double Hungarian migration into Panonia. The third part of the treatise is about the Hungarian invasions across the Slovene territory in the first half of the 10th century; there were much more of them than thought of up till now. In the fourth part the author describes Panonia before it was settled by the Hungarian, the structure of its estates, and handles the question of extent of germanization of the territory.