Document:

NBC Universal Annual Incentive Plan

 Exhibit 10.58 

 

 

 Annual Incentive Plan 
 Plan Description 
 Introduction: This Document 

This document is a general description of the NBC Universal Annual Incentive Plan (the “Plan”). It is not a contract between a Plan participant
and NBC Universal (the “Company”) and does not guarantee either a payout under the plan or continued employment with the Company to participants in the Plan. In the event of any questions concerning the operation of the Plan, the decisions
of the AIP Committee (described in Section 3 below) will be final and binding on all parties. 
 Section 1: Objectives

 The objectives of the Plan are: (1) to motivate key employees of NBC Universal to achieve or exceed financial and business
targets by rewarding them for superior business and personal performance; (2) attract and retain the highest caliber employees by offering competitive total cash opportunities; and (3) provide a meaningful link between overall business
performance and total compensation paid to AIP participants. 
 Section 2: Effective Date and Plan Year 

The Plan covers the Company’s fiscal year, which runs from January 1 to December 31 (“Plan Year”). 

Section 3: Administration and Governance 
 The AIP Committee (the “Committee”) is appointed by the Chief Executive Officer of NBC Universal, and consists of the following: 

 

	 	•	 	 CFO, NBC Universal 

	 	•	 	 EVP Human Resources, NBC Universal 

	 	•	 	 VP Compensation and Benefits, NBC Universal 

	 	•	 	 SVP Financial Planning & Analysis, NBC Universal 

 The Committee has the power and authority to interpret and administer all aspects of the Plan and to adopt or change any rules, agreements, guidelines, or instruments as may be needed to administer the
Plan and conduct its business. 

  

							
	Revised April 23, 2010	 	page 1 of 5	 	 	NBCU Confidential	  

 AIP Plan Document—Continued 
 This includes, without limitation, the authority to resolve all matters relating to individual bonus payments (“Awards”) made under the Plan, eligibility determinations, target levels, funding,
and restrictions that may be applied to any Award. 
 The Committee has the power to amend or terminate the Plan. The Committee’s decisions
and findings with respect to the Plan are final and binding on all participants. 
 Section 4: Eligibility and Targets

 Key management company employees are eligible to participate in the Plan, subject to the recommendations of senior management and the
final approval of the Committee. Eligibility to participate in the Plan will be communicated and confirmed to participants through an AIP Plan Memorandum (the “Plan Memorandum”). 
 The Plan Memorandum will communicate to participants their AIP Target Opportunity for the year. In the US, the Target (which is the size of the Award associated with meeting but not exceeding both
business and personal performance targets, “Target”) will generally be expressed as a fixed dollar opportunity that does not change throughout the year unless promoted. In other countries, the Target may be expressed as either a fixed
amount in the appropriate currency or as a percentage of base salary. 
 If an employee either joins the Company in a bonus
eligible position or moves into a bonus eligible position during the Plan Year, in order to be eligible to participate in the Plan during that Plan Year, the employee must have commenced active services to the Company before the Eligibility Cutoff
Date. The Eligibility Cutoff Date for purposes of the Plan is October 1st of each Plan Year. Employees who gain eligibility before the Eligibility Cutoff Date will have Targets prorated based upon the time in which he or she has commenced providing active services to the
Company in that bonus eligible position. 
 For all purposes relating to the Plan, prorated Targets will be calculated as
the number of months of eligible service divided by 12. Any event that adds or removes an employee from the Plan or changes the AIP Target (e.g., a promotion, demotion, reclassification, etc.) can lead to proration. For partial months of service,
any action that occurs on or before the 15th day of the
month will be deemed to have occurred on the first day of that month. Actions occurring on the 16th day of a month or later will be deemed to have occurred on the first day of the following month. 

  

							
	Revised April 23, 2010	 	page 2 of 5	 	 	NBCU Confidential	  

 AIP Plan Document—Continued 
 Section 5: Plan Elements 
 A. Business Components and
Bonus Pools 
 The Committee will determine annually which business components (“Components”) of NBC Universal will be measured
for the purposes of the Plan. Each Component will have, based upon its business performance, an AIP bonus pool (“Component Pool”) established at the close of a Plan Year. All Awards are paid from the Component Pool and the total Awards
paid out cannot exceed the calculated funding of each Component Pool. The Committee, in its sole discretion, may adjust the size of Component Pools based upon considerations including the quality of earnings, strategic considerations, etc.

 B. Performance Measures 
 The Committee will determine the performance measures (“Performance Measures”) that will be used for funding the Component Pools under the Plan (e.g., Operating Profits), the proportionate
weight to be assigned to each selected Performance Measure, and the levels that will be needed to achieve Target, maximum, and minimum funding under the Plan. 
 C. Bonus Pool Funding 
 The target pool for each Component is the sum of the
individual AIP Targets of all Component participants, (“Target Pool”). The Target Pool will be 100% funded if the Component achieves (but does not exceed) the targeted business performance levels (“Performance Target”) for all
performance measures established by the Committee at the outset of each Plan Year. The maximum funding of a Component Pool is 200% of the Target Pool. That is the level of funding associated with meeting or exceeding the maximum performance levels
set by the Committee at the outset of a Plan Year. A Component Pool may not be funded at all if the minimum performance levels set by the Committee at the outset of Plan Year are not met for all of the Performance Measures established by the
Committee. If the minimum standards for funding set by the Committee at the outset of a Plan Year are met, but not exceeded, the Component Pool will be funded at 50% of the Target Pool. For performance levels that exceed the minimum but are below
the Performance Target and for performance levels that exceed the Performance Target but are below maximum, pool funding will be determined by interpolation. 
 For the purposes of determining Component Pool funding, each Performance Measure is measured separately and independently of the other Performance Measures. 

  

							
	Revised April 23, 2010	 	page 3 of 5	 	 	NBCU Confidential	  

 AIP Plan Document—Continued 
 D. Award Determination 
 Awards under the Plan are calculated by multiplying three
items: 
  

	 	•	 	 AIP Target Bonus 

	 	•	 	 Business Component Score—a percentage of the Target Pool (which may be greater or less than 100%) based on the actual performance of the Business
Component against goals and the performance of NBCU or NBCU International against goals. As described in Section 5.A and as appears in your Plan Memorandum. 

	 	•	 	 An individual performance factor that reflects the participant’s performance. This factor can be 0 or range from 50% to 125%.

 E. Award Payments 
 All payments are made after actual results on Performance Measures have been determined, typically within the first quarter of the following year. 
 Participants must be providing active services to NBC Universal (or receiving benefits under the Company’s short-term disability plan known as the NBCU Salary Continuance Plan) at the time of payout
to receive their Awards under the Plan. 
 In the case of death, retirement or long-term disability during a Plan year, a participant or his or
her estate will receive pro rata consideration. 
 Time spent under the NBCU Salary Continuance Plan will count as regular service for the
purposes of the Plan. 
 Section 6: Miscellaneous Provisions 

A. Unsecured Obligation 
 No trust fund shall be created in connection with the Plan or any Awards payable under the Plan and there is no required funding of amounts that might become payable under the Plan. No participant will
have an interest in any fund or asset of the Company as a result of the Plan. All liabilities relating to the Plan are general unsecured liabilities of the Company and Plan participants have the same rights as other unsecured creditors of the
Company. 

  

							
	Revised April 23, 2010	 	page 4 of 5	 	 	NBCU Confidential	  

 AIP Plan Document—Continued 
 B. Nonassignability 
 No right to or interest in the Plan or to any Award is
assignable or transferable or subject to any lien or encumbrance, either directly or indirectly, by operation of law or otherwise, including levy, garnishment, attachment, pledge, or bankruptcy. 

C. Withholding Taxes 
 All Awards under the Plan are subject to all applicable withholding taxes, including federal and state income taxes and employment taxes. The Company will withhold such taxes in accordance with applicable
tax laws and regulations. 

  

							
	Revised April 23, 2010	 	page 5 of 5	 	 	NBCU ConfidentialExecutive Employment Agreement

 EXHIBIT 10.48 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 This Executive Employment Agreement
between Heckmann Corporation (“Company”) and Charles Gordon (“Executive”) is made effective on this 1st day of October 2010 (“Agreement”) Company and Executive hereby agree to the employment of Executive by Company on
the following terms and conditions: 
  

	1.	Commencement and Term of Agreement 

 Executive’s employment under this Agreement will commence on October 1, 2010, and continue for three (3) years (the “Term”), unless earlier terminated pursuant to the provisions
of this Agreement. The Term may be modified or extended by mutual agreement. 
  

	2.	Positions and Appointments 

Executive shall serve as President and Chief Operating Officer of the Company and, at the Chairman or Chief Executive Officer’s
election, its subsidiaries. Executive’s duties shall include, but not be limited to, those typical of the President and Chief Operating Officer of a New York Stock Exchange listed company, and such other duties as may be required by the
Chairman and Chief Executive Officer or Board of Directors of the Company from time to time consistent therewith. Executive will be required to travel for business purposes. 

 

	3.	Base Salary 

 Company will
pay Executive a base salary in cash at the rate of $300,000 per annum ($25,000 per month) from which tax and other withholdings will be deducted. Executive will be paid in installments in accordance with normal Company policy Executive’s base
salary may be changed by mutual agreement at any time during the Term. 
  

	4.	Bonus and Equity Incentive Holdings 

  

	4.1	Executive shall be eligible for a bonus of up to 60% of base salary, from which tax and other withholdings will be deducted, pursuant to a plan or plans developed by
you and the Chairman and approved by the Company from time to time, beginning for the calendar year 2011. 

  

	4.2	Upon your execution of this Agreement, Executive will be granted 550,000 options to purchase a share of common stock, at the fair market value thereof as defined in our
equity plan. The terms of the option will be reflected in our standard grant agreement. 

  

	4.3	Thereafter on or about each anniversary of this Agreement during which you are employed as President and Chief Operating Officer, we will grant you 100,000 options on
essentially the same terms (with fair market value measured at the applicable grant date), and 50,000 shares of restricted stock, which shall be governed by our equity plan and standard grant agreement. 

 

	5.	Expenses 

 Company shall
reimburse Executive in respect of all reasonable travelling, accommodation, marketing, entertainment, and other similar out-of-pocket business expenses necessarily incurred by Executive in the performance of his duties, provided that any expense
reimbursement claims are supported by relevant documentation and are made in accordance with Company’s expense or travel policies. 

  
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	6.	Benefits and Vacation 

Executive shall be entitled to participate in, and receive benefits as permitted by applicable law under, any pension benefit plan,
welfare benefit plan (including, without limitation, health insurance), vacation benefit plan including 14 paid vacation days per annum or other executive benefit plan made available by Company to its senior executives. Any such plan or benefit
arrangement may be amended, modified, or terminated by Company from time to time with or without notice to Executive 
  

	7.	Termination of Employment 

  

	7.1	By Executive 

 Executive
may seek to terminate his employment by choice without any “Good Reason” by giving the Company thirty (30) days minimum notice in writing. In such case, Executive will receive only his base salary through his final day of service.

 Executive may seek to terminate his employment with “Good Reason” by giving to Company thirty (30) days notice
in writing, and Company shall have sixty (60) days after said notice to cure the problem. If uncured, Executive will receive severance compensation paid in an amount equal to his most recent twelve (12) months’ base salary, plus a
prorated bonus. Payments will be made at the same time as Company salary (or bonus) payments. Executive shall also remain covered by the Company’s health benefits plan for twelve (12) months (or the Company shall reimburse Executive for
such costs). 
 “Good Reason” shall mean: (a) a material reduction or addition in Executive’s authority,
duties, and executive responsibilities with the Company, or (b) a change in direct reporting to the Chairman and Chief Executive Officer, or (c) a material breach of this Agreement. 

 

	7.2	By Company 

 Company may
seek to terminate Executive’s employment by choice without “Cause” by giving Executive not less than thirty (30) days notice in writing. In such case, Executive will receive severance compensation equal to his most recent twelve
(12) months’ base salary, plus a prorated bonus. Payments will be made at the same time as Company salary (or bonus) payments. Executive shall also remain covered by the Company’s health benefits plan for twelve (12) months (or
the Company shall reimburse Executive for such costs). 
 Company may seek to terminate Executive’s employment with
“Cause” by giving Executive not less than thirty (30) days notice in writing, as well as providing Executive thirty (30) days to cure the problem. If uncured, Executive will receive only his base salary through his final day of
service. “Cause” shall be deemed to exist if Executive shall at any time: (a) commit a material breach of this Agreement, or (b) be guilty of gross negligence in connection with or affecting the business or affairs of the
Company, or (c) be guilty of insubordination, or (d) be convicted of, or plead no contest to, a felony criminal offense 

  
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	7.3	Death and Disability 

Executive’s employment will automatically terminate upon his death. Further, Company reserves the right to terminate Executive’s
employment at any time during which Executive has a “Disability.” In the event of a termination of Executive’s employment due to death or Disability, Company will pay to Executive or his estate, as applicable, a severance payment
equal to his most recent twelve months’ salary, payable at the same time as Company salary payments. 
 For purposes of this
Agreement, a “Disability” means a physical or mental impairment that prevents Executive from performing the essential duties of his position, with or without reasonable accommodation, for (i) a period of sixty (60) consecutive
calendar days, or (ii) an aggregate of ninety (90) work days in any six (6) month period. A determination that Executive has incurred a Disability will be made by Company, in its sole discretion, but in consultation with a physician
selected by Company and provided that such selected physician consults with Executive’s physician in addition to any examination of Executive and/or other tests on Executive that such selected physician performs or orders to be performed.
Executive hereby agrees to submit to any such examinations and/or other tests from time to time. Notwithstanding the foregoing, any termination of employment due to a “Disability” will be made in accordance with applicable law. 

 

	8.0	Change of Control 

 In the
event that the Executive’s employment with Company is terminated by Company without Cause or by the Executive with Good Reason, in either case following a “Change of Control” (as defined below) then in lieu of any payments or benefits
under clauses 7.1 or 7 2, as applicable, the Executive shall be entitled to receive the following payments and benefits: 
  

	 	(a)	within thirty (30) days, or other mutually agreed date, a payment equal to two (2) times the Executive’s annual base salary as in effect as the time of
termination or immediately prior to the occurrence of the Change of Control; and 

  

	 	(b)	within thirty (30) days, or other mutually agreed date, a payment equal to two (2) times the Executive’s bonus for the year immediately preceding the
year in which the Change of Control occurs; and 

  

	 	(c)	two (2) years of continued coverage under the Company’s (or its successor’s) health insurance plan at the same rates and under the same terms and
conditions that are applicable to senior Executives of Company or its successor (or reimbursement therefore); and 

  

	 	(d)	immediate lapse of restrictions and immediate vesting respecting any restricted stock and outstanding equity incentive awards made to the Executive.

 For purposes of this Agreement, “Change of Control” means a material change in Executive’s
position and responsibilities combined with the earliest to occur of the following events: 
  

	 	(i)	the acquisition or ownership by any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, and
any successor statute, as it may be amended from time to time (the “Exchange Act”)) (each, a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of more than 50% the combined
voting power of the outstanding voting securities of Company entitled to vote generally in the election of directors (“Outstanding Voting Securities”) ; or 

 

	 	(ii)	individuals who, as of the commencement of the Executive’s employment with Company, constitute the Board of Directors of Company (the “Incumbent Board”)
cease for any reason to constitute at least a majority of the Board of Directors of Company; or 

  
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	 	(iii)	consummation of a reorganization, merger or consolidation, or sale or other disposition of all or substantially all of the assets of Company (a “Corporate
Transaction”): or 

  

	 	(iv)	approval by the stockholders of Company of a complete liquidation or dissolution of Company 

 

	9.	Confidential Information 

  

	9.1	Executive acknowledges that, during the course of his employment with Company, he will have access to confidential business information and secrets. Executive agrees,
both during the term of his employment and following its termination, that he will hold the confidential business information and secrets in the strictest confidence, and that he will not use or attempt to use or disclose any confidential
information or business secrets any other person or entity without the prior written authorization of Company. 

  

	9.2	The restrictions of clause 9.1 do not apply to any Confidential Information that (a) has entered into the public domain other than by a breach of this Agreement or
other obligation of confidentiality of which Executive is aware, or (b) solely to the extent and for the duration required, is required to be disclosed under a validly-issued court order, pursuant to a request by government regulators, and
which disclosure Company is unable legally to prevent. 

  

	10.	Further Obligations of Executive 

  

	10.1	Executive shall comply with all applicable rules of law, securities laws, regulations, and codes of conduct of Company in effect from time to time in relation to
dealings in shares, notes, debentures, or other securities. 

  

	10.2	Executive represents that his employment with Company does not violate any prior agreement with a former employer or third party. 

 

	11.	Application of Section 409A 

  

	11.1	Notwithstanding anything contained in this Agreement to the contrary, no amount payable on account of Executive’s termination of employment which constitutes a
“deferral of compensation” (“Section 409A Deferred Compensation”) within the meaning of the Treasury Regulations issued pursuant to Section 409A of the Code (the “Section 409A Regulations”) shall be paid unless and
until Executive has incurred a “separation from service” within the meaning of the Section 409A Regulations. Furthermore, if Executive is a “specified employee” within the meaning of the Section 409A Regulations as of
the date of Executive’s separation from service, no amount that constitutes Section 409A Deferred Compensation which is payable on account of Executive’s separation from service shall be paid to Executive before the date (the
“Delayed Payment Date”) which is first day of the seventh month after the date of Executive’s separation from service or, if earlier, the date of Executive’s death following such separation from service. All such amounts that
would, but for this Section, become payable prior to the Delayed Payment Date will be accumulated and paid on the Delayed Payment Date. 

  

	11.2	To the extent that all or any portion of the Company’s payment of or reimbursement to Executive for the cost of health care coverage premiums pursuant to Sections
7 and 8 (the “Company-Provided Benefits”) would exceed an amount for which, or continue for a period of time in excess of which, such Company Provided Benefits would qualify for an exemption from treatment as Section 409A
Deferred Compensation, then, for the duration of the applicable period during which the Company is required to provide such benefits: (a) the amount of Company-Provided Benefits furnished in any taxable year of Executive shall not affect the
amount of Company-Provided Benefits furnished in any other taxable year of Executive; (b) any right of Executive to Company-Provided Benefits shall not be subject to liquidation or exchange for another benefit; and (c) any reimbursement
for Company-Provided Benefits to which Executive is entitled shall be paid no later than the last day of Executive’s taxable year following the taxable year in which Executive’s expense for such Company-Provided Benefits was incurred.

  
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	11.3	Any equity award which constitutes Section 409A Deferred Compensation and which would vest and become payable upon a Change of Control in accordance with
Section 8 shall vest in full as provided by Section 8 but shall be converted automatically at the effective time of such Change of Control into a right to receive in cash on the date or dates such award would have been settled in
accordance with its then existing settlement schedule (or on such earlier date as provided by Sections 7 or 8) an amount or amounts equal in the aggregate to the intrinsic value of the equity award at the time of the Change of Control.

  

	11.4	Notwithstanding any provision of this Agreement to the contrary, to the extent that any amount constituting Section 409A Deferred Compensation would become payable
under this Agreement solely by reason of a Change of Control, such amount shall become payable only if the event constituting a Change of Control would also constitute a change in ownership or effective control of the Company or a change in the
ownership of a substantial portion of the assets of the Company within the meaning of the Section 409A Regulations 

  

	11.5	The Company intends that income provided to Executive pursuant to this Agreement will not be subject to taxation under Section 409A of the Code. The provisions of
this Agreement shall be interpreted and construed in favor of satisfying any applicable requirements of Section 409A and the Section 409A Regulations. However, the Company does not guarantee any particular tax effect for income provided to
Executive pursuant to this Agreement. In any event, except for the Company’s responsibility to withhold applicable income and employment taxes from compensation paid or provided to Executive, the Company shall not be responsible for the payment
of any applicable taxes incurred by Executive on compensation paid or provided to Executive pursuant to this Agreement. 

  

	12.	Miscellaneous 

  

	12.1	This Agreement constitutes the entire agreement and understanding between Company and Executive and supersedes any other agreements, whether oral or written, with
respect to the subject matter of this Agreement. This Agreement may only be modified or amended by a further agreement in writing signed by the parties hereto. 

 

	12.2	This Agreement is governed by and shall be construed in accordance with the laws of the State of California, and without giving effect to conflict of law principles.

  

	12.3	In the event the parties are unable to settle a dispute respecting this Agreement such dispute shall be referred to and finally settled by arbitration at a mutually
agreed local office of the American Arbitration Association within the counties of Riverside or Los Angeles, California, in accordance with its commercial and employment Arbitration Rules then in effect, administered by a three member panel of
experienced arbitrators selected by mutual agreement. The parties may offer any relevant materials in discovery under volume and timescale guidelines set by the arbitrators. 

 

	12.4	This Agreement may be executed in several counterparts, each of which shall be deemed to be an original, and all such counterparts when taken together shall constitute
one and the same original. 

  

	12.5	Except to the extent that applicable law requires that any specific action be taken or performed by Company’s Compensation Committee, or to the extent otherwise
provided in this Agreement, any action to be taken or performed, or direction to be provided, by Company under this Agreement may be taken, performed, or provided at the direction of Company’s Chairman and Chief Executive Officer.

  

	12.6	Any waiver by Company of any provision, or any breach of any provision, of this Agreement shall not operate or be construed as a waiver of any subsequent breach of such
provision or any other provision herein. 

  
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	12.7	Due to the personal nature of the services contemplated under this Agreement, this Agreement and Executive’s rights and obligations hereunder may not be assigned
by Executive. Company may assign its rights, together with its obligations hereunder, in connection with any sale, transfer, or other disposition of all or substantially all of its business and/or assets, provided that any such assignee of Company
agrees to be bound by the provisions of this Agreement. 

  

									
	Company	 		 	
				
	By:	 	/s/ Richard J. Heckman	 		 	Date: 8/23/10
		 	Name: Richard J. Heckman	 		 	
		 	Title: Chairman of the Board and CEO	 		 	
			
	Executive	 		 	
				
	By:	 	/s/ Charles Gordon	 		 	Date: 8/28/10
		 	Name: Charles Gordon	 		 	

  
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