Document:

Management Agreement, dated March 29, 2007

 Exhibit 10.11 
 Execution Copy 
 MANAGEMENT AGREEMENT 
 This Management Agreement (this “Agreement”) is entered into as of March 29, 2007 by and among Univision Communications Inc., a
Delaware corporation (the “Company”) Broadcasting Media Partners, Inc., a Delaware corporation (“BMP”), Broadcast Media Partners Holdings, Inc., a Delaware corporation (“BMPH” and, together with the
Company and BMP, the “Univision Corporations”), Madison Dearborn Partners IV, L.P. (“MDPIV”), Madison Dearborn Partners V-B, L.P. (“MDPV” and together with MDPIV, “MDP”), Providence
Equity Partners V Inc. (“PEPV”), Providence Equity Partners L.L.C. (“PEPVI” and together with PEPV, “PEP”), KSF Corp. (“SCG”), THL Managers VI, LLC (“THL”), and TPG
Capital, L.P. (“TPG”, and together with MDP, PEP, SCG and THL, each a “Manager” and together, the “Managers”; provided that each such entity shall cease to be a “Manager” for
all purposes hereunder at such time as investment funds affiliated with such Manager are no longer members of a Principal Investor Group). Certain capitalized terms used herein are specifically defined in Section 6. 
 RECITALS 
 WHEREAS, each of BMP, BMPH
and Umbrella Acquisition, Inc., a Delaware corporation (“Umbrella”), has been formed for the purpose of engaging in a transaction in which Umbrella will be merged with and into the Company, with the Company surviving (the
“Merger”) pursuant to an Agreement and Plan of Merger between BMP, Umbrella and the Company dated as of June 26, 2006 (as amended from time to time, the “Merger Agreement”). 
 WHEREAS, to enable Umbrella to engage in the Merger and related transactions, MDP, PEP, THL and TPG provided financial and structural advice and analysis
as well as assistance with due diligence investigations and negotiations (the “Financial Advisory Services”); and 
 WHEREAS, the Univision Corporations want to retain the Managers to provide certain management, consulting and advisory services to the Univision Corporations, and the Managers are willing to provide such services on the terms set forth
below. 
 AGREEMENT 
 NOW
THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Services. Each of the Managers hereby agrees that, during the term of this Agreement (the “Term”) it will provide the following management, consulting and advisory services to the Univision Corporations as
requested from time to time by the Boards of Directors of the Univision Corporations: 
 (a) advice in connection with the
negotiation of agreements, contracts, documents and instruments relating to the Univision Corporations’ financing; 
 (b)
financial, managerial and operational advice in connection with the Univision Corporations’ business, including, without limitation, advice with respect to the development and implementation of strategies for improving the operating, marketing
and financial performance of the Univision Corporations and their subsidiaries; and 
  

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 (c) such other services (which may include financial and strategic planning and analysis,
consulting services, human resources and executive recruitment services and other services) as such Manager and the Univision Corporations may from time to time agree in writing. 
 Each of the Managers shall devote such time and efforts to the performance of services contemplated hereby as such Manager deems reasonably necessary or appropriate; provided, however, that no minimum
number of hours is required to be devoted by any Manager on a weekly, monthly, annual or other basis. The Univision Corporations acknowledge that each of the Managers’ services are not exclusive to any of the Univision Corporations and that
each Manager will render similar services to other persons and entities. The Managers and the Univision Corporations understand that the Univision Corporations may, at times, engage one or more investment bankers or financial advisers to provide
services in addition to, but not in lieu of, services provided by the Managers under this Agreement. In providing services to the Univision Corporations, each Manager will act as an independent contractor and it is expressly understood and agreed
that this Agreement is not intended to create, and does not create, any partnership, agency, joint venture or similar relationship and that no party has the right or ability to contract for or on behalf of any other party or to effect any
transaction for the account of any other party. 
 2. Payment of Fees. 
 (a) The Univision Corporations, jointly and severally, will pay to MDP, PEP, THL and TPG (or such affiliates as they may respectively
designate), in consideration of the Managers providing the Financial Advisory Services, an aggregate transaction fee (the “Transaction Fee”) in the amount of $200,000,000, such fee being payable at the closing of the Merger. The
Transaction Fee shall be divided among MDP, PEP, THL and TPG as follows: 
  

				
	 MDPIV:
	  	$	22,005,630
		
	 MDPV:
	  	$	27,994,370
		
	 PEPV:
	  	$	29,405,587
		
	 PEPVI:
	  	$	20,594,413
		
	 THL:
	  	$	50,000,000
		
	 TPG:
	  	$	50,000,000

 (b) During the Term, the Univision Corporations, jointly and severally, will pay to
the Managers (or such affiliates as they may respectively designate), a quarterly periodic fee (the “Periodic Fee”) of 2% of EBITDA for the calendar quarter in question in exchange for the ongoing services provided by the Managers
under Section 1 of this Agreement, such fee being payable by the Company in arrears as soon as practicable 

  

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following the determination of EBITDA for the applicable calendar quarter. The Periodic Fee shall be payable in full for any quarter during which this
Agreement was in effect for any portion thereof and shall not be refundable in whole or in part. The Periodic Fee shall be divided among the Managers pro rata in proportion, as of such date, to the funds committed by investment funds affiliated with
each Manager under the Equity Commitment Letter, as set forth on Schedule 1 (the “Managers’ Pro Rata Percentage”); provided that, for purposes of this Agreement, (i) the MDP Investors and their respective
Affiliated Funds shall be deemed to be investment funds affiliated with MDP; (ii) the PEP Investors and their respective Affiliated Funds shall be deemed to be investment funds affiliated with PEP; (iii) the SCG Investors and their
respective Affiliated Funds shall be deemed to be investment funds affiliated with SCG, (iv) the THL investors and their respective Affiliated Funds shall be deemed to be investment funds affiliated with THL; and (v) the TPG Investors and
their respective Affiliated Funds shall be deemed to be investment funds affiliated with TPG. 
 (c) During the Term, the
Mangers will advise the Univision Corporations in connection with debt or equity financing, acquisition, disposition and change of control transactions involving the Univision Corporations or any of their respective direct or indirect subsidiaries
(however structured), and the Univision Corporations, jointly and severally, will, for each transaction which has a gross transaction value of at least $25,000,000, pay to the Managers (or such affiliates as they may respectively designate) an
aggregate fee (the “Subsequent Fee”) in connection with each such transaction equal to one percent (1%) of the gross transaction value of such transaction or such other amount as may be mutually agreed by the applicable Univision
Corporation and the Requisite Managers, such fee to be due and payable for the foregoing services at the closing of such transaction. Each Subsequent Fee shall be divided among the Managers according to the Managers’ Pro Rata Percentage, as of
such date. 
 3. Term. This Agreement shall continue in full force and effect until December 31, 2017; provided that this
Agreement shall be automatically extended each December 31 for an additional year unless the Univision Corporations or the Requisite Managers provide written notice of their desire not to automatically extend the term of this Agreement to the other
parties hereto at least ninety (90) days prior to such December 31; provided, further, (a) that the Requisite Managers may cause this Agreement to terminate at any time and (b) this Agreement shall terminate automatically immediately
prior to the earlier of (i) an Initial Public Offering, and (ii) Change of Control (as defined in the Stockholders Agreement), unless the Requisite Managers determine otherwise. In the event of a termination of this Agreement, the Univision
Corporations, jointly and severally, shall pay each of the Managers (or such affiliates as they may respectively designate) (i) all unpaid Periodic Fees (pursuant to Section 2(b) above), Subsequent Fees (pursuant to Section 2(c) above) and expenses
(pursuant to Section 4(a) below) due with respect to periods prior to the date of termination plus (ii) the sum of the net present values (using discount rates equal to the then yield on U.S. Treasury Securities of like maturity) of the Periodic
Fees that would have been payable with respect to the period from the date of termination until the expiration date in effect immediately prior to such termination, assuming, for such purposes, that (1) the baseline EBITDA for purposes of such
calculation is the greater of (A) EBITDA for the most recently completed quarter and (B) the average of the EBITDA for the last four completed quarters and (2) EBITDA would have grown during each 

  

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subsequent quarter until the expiration date in effect immediately prior to such termination at a rate reflecting the greater of (A) a compounded annual
growth rate of 10%, and (B) the compounded annual growth rate of the last two completed fiscal years. The amounts described in clause (ii) above shall be divided among the Managers according to the Managers’ Pro Rata Percentage, as of such
date. Sections 4 and 5 of this Agreement shall survive any termination of this Agreement with respect to matters occurring before, on or after the date of such termination. 
 4. Expenses; Indemnification. 
 (a) Expenses. The Univision Corporations, jointly and severally, will pay on demand all Reimbursable Expenses. As used herein, “Reimbursable Expenses” means (A) all expenses incurred or accrued prior to the date on
which the transactions contemplated by the Merger Agreement are consummated (the “Closing Date”) by any of the Managers or their affiliates in connection with this Agreement, the Merger or any related transactions, consisting of
their respective out-of-pocket expenses for travel and other incidentals in connection with such transactions (including, without limitation, all air travel and other travel related expenses) and the out-of-pocket expenses and the fees and charges
of the consultants and advisors listed in Schedule 2 hereof, any other consultants or advisors retained by the Managers in connection with the Merger and related transactions, (B) reasonable out-of-pocket expenses incurred from and after the
Closing Date relating to their Affiliated Funds’ investment in, the operations of, or the services provided by the Managers or former Managers to, the Univision Corporations or any of their affiliates from time to time (including, without
limitation, all air travel and other travel related expense); provided, however, that the Requisite Managers must approve any expenses referred to in this clause (B) other than routine out-of-pocket expenses, (C) reasonable
out-of-pocket legal expenses incurred by any Manager or former Manager or their affiliates from and after the Closing Date in connection with the enforcement of rights or taking of actions under this Agreement, the Univision Corporations’
certificates of incorporation and bylaws, the Stockholders Agreement, the Participation, Registration Rights and Coordination Agreement or the Principal Investor Agreement; provided that the reimbursement of expenses incurred by the Managers
or former Managers, or their affiliates, which are subject to reimbursement under Section 4.3 of the Principal Investor Agreement, will be governed by, and subject to any limitations contained in, such section and (D) expenses incurred from and
after the Closing Date by the Managers or former Managers, and their affiliates, which the Requisite Managers agree are properly allocable to the Univision Corporations under this Agreement. 
 (b) Indemnity and Liability. The Univision Corporations, jointly and severally, will indemnify, exonerate and hold each of the
Managers and former Managers, and each of their respective partners, shareholders, members, affiliates, directors, officers, fiduciaries, managers, controlling Persons, employees and agents and each of the partners, shareholders, members,
affiliates, directors, officers, fiduciaries, managers, controlling Persons, employees and agents of each of the foregoing (collectively, the “Indemnitees”) free and harmless from and against any and all actions, causes of action,
suits, claims, liabilities, losses, damages and costs and out-of-pocket 

  

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expenses in connection therewith (including reasonable attorneys’ fees and expenses) incurred by the Indemnitees or any of them before or after the date
of this Agreement (collectively, the “Indemnified Liabilities”), as a result of, arising out of, or in any way relating to (i) this Agreement, the Merger, any transaction to which a Univision Corporation is a party or any other
circumstances with respect to a Univision Corporation (other than any such Indemnified Liabilities to the extent such Indemnified Liabilities arise out of any breach of the Principal Investor Agreement, the Stockholders Agreement or the
Participation, Registration Rights and Coordination Agreement by such Indemnitee or its affiliated or associated Indemnitees or any transaction entered into after the Closing Date or other circumstances existing after the Closing Date with respect
to which the interests of such Indemnitee or its affiliated or associated Indemnitees were adverse to the interests of the Univision Corporations) or (ii) operations of, or services provided by any of the Managers or former Managers to the Univision
Corporations, or any of their affiliates from time to time, whether pursuant to this Agreement or otherwise; provided that the foregoing indemnification rights shall not be available to the extent that any such Indemnified Liabilities
arose on account of such Indemnitee’s gross negligence or willful misconduct, and provided, further, that if and to the extent that the foregoing undertaking may be unavailable or unenforceable for any reason, the Univision
Corporations hereby agree to make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. For purposes of this Section 4(b), none of the circumstances described in
the limitations contained in the two provisos in the immediately preceding sentence shall be deemed to apply absent a final non-appealable judgment of a court of competent jurisdiction to such effect, in which case to the extent any such limitation
is so determined to apply to any Indemnitee as to any previously advanced indemnity payments made by the Univision Corporations, then such payments shall be promptly repaid by such Indemnitee to the Univision Corporations. The rights of any
Indemnitee to indemnification hereunder will be in addition to any other rights any such person may have under any other agreement or instrument referenced above or any other agreement or instrument to which such Indemnitee is or becomes a party or
is or otherwise becomes a beneficiary or under law or regulation. None of the Indemnitees shall in any event be liable to the Univision Corporations or any of their affiliates for any act or omission suffered or taken by such Indemnitee in
connection with, relating to or arising out of this Agreement, including without limitation the services provided by such Indemnitee to any of the Univision Corporations or any of their affiliates (a) that does not constitute gross negligence or
willful misconduct or (b) in excess of the fees received by the applicable Manager hereunder. If the Indemnitees related to more than one Manager or former Manager are similarly situated with respect to their interests in connection with a matter
that may be an Indemnified Liability and such Indemnified Liability is not based on a Third-Party Claim, the Indemnitees may enforce their rights pursuant to this Section 4(b) with respect to such matter only with the consent of at least a majority
of the Managers or former Managers whose Indemnitees are so involved. In the event that any party that was previously a Manager hereunder ceases to be a Manager in accordance with the definition thereof, the provisions hereof for the benefit of
Indemnitees of such party shall inure to such Indemnitees and their successors and assigns. 
  

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 5. Disclaimer and Limitation of Liability. 
 (a) Disclaimer; Standard of Care. None of the Mangers or former Managers makes any representations or warranties, express or
implied, in respect of the services to be provided by any Manager or former Managers hereunder. In no event shall any of the Managers or former Manager be liable to the Univision Corporations or any of their affiliates for any act, alleged act,
omission or alleged omission that does not constitute gross negligence or willful misconduct of such Manager or former Manager as determined by a final, non-appealable determination of a court of competent jurisdiction. 
 (b) Limitation of Liability. In no event will any of the Managers or former Managers or any of their Indemnitees be liable to the
Univision Corporations or any of their affiliates or either of the other Managers or former Managers or their Indemnitees for any indirect, special, incidental or consequential damages, including, without limitation, lost profits or savings, whether
or not such damages are foreseeable, or for any third party claims (whether based in contract, tort or otherwise), relating to, in connection with or arising out of this Agreement, including without limitation the services to be provided by the
Managers or former Managers hereunder, or for any act or omission that does not constitute gross negligence or willful misconduct or in excess of the fees received by the applicable Manager hereunder. 
 6. Definitions. For purposes of this agreement, the following terms shall have the following meanings: 
 “Affiliated Funds” shall have the same meaning given to it in the Principal Investor Agreement. 
 “EBITDA” shall have the meaning given to such term in the Indenture as in effect on the date hereof; provided that for purposes
of this agreement, “EBITDA” for any quarter, and any other amount required to be calculated in order to calculate “EBITDA” for such quarter shall be calculated as if the Periodic Fee were not paid. 
 “Equity Commitment Letter” shall have the same meaning given to it in the Merger Agreement. 
 “Change of Control” shall have the same meaning given to it in the Principal Investor Agreement. 
 “Indenture” shall mean the Indenture, dated as of March 29, 2007, between the Company, as issuer and Wells Fargo Bank, National
Association, as trustee (the “Trustee”), as supplemented by a Supplemental Indenture, dated March 29, 2007, by and among the Company, the guarantors named on the signature pages thereto and the Trustee, relating to the issuance
of 9.75%/10.50% Senior Notes due 2015 of the Company. 
 “Initial Public Offering” shall have the meaning given to such term
in the Principal Investor Agreement. 
 “Majority Principal Investors” shall have the meaning given to such term in the
Principal Investor Agreement. 
  

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 “MDP Investors” shall have the meaning given to such term in the Principal Investor
Agreement. 
 “Participation, Registration Rights and Coordination Agreement” means the Participation, Registration Rights
and Coordination Agreement dated March 29, 2007 among BMP, BMPH, Umbrella and certain stockholders of BMP and BMPH. 
 “Person” means any individual or corporation, association, partnership, limited liability company, joint venture, joint stock or other company, business trust, trust, organization, or other entity of any kind. 

“Principal Investor Agreement” means the Principal Investor Agreement dated March 29, 2007 among BMP, BMPH, Umbrella and the
Principal Investors (as defined therein). 
 “Principal Investor Group” shall have the meaning given to such term in the
Principal Investor Agreement. 
 “PEP Investors” shall have the meaning given to such term in the Principal Investor
Agreement. 
 “Requisite Managers” shall mean, at any time, the approval of Managers whose affiliated investment funds
constitute Majority Principal Investors. 
 “SCG Investors” shall have the meaning given to such term in the Principal
Investor Agreement. 
 “Shares” shall have the meaning given to such term in the Principal Investor Agreement. 

“Stockholders Agreement” means the Stockholders Agreement dated March 29, 2007 among BMP, BMPH, Umbrella and certain
stockholders of BMP and BMPH. 
 “Third-Party Claim” means any (i) claim brought by a Person other than a Univision
Corporation, a Manager or any indemnified Person related to a Manager and (ii) any derivative claim brought in the name of a Univision Corporation that is initiated by a Person other than a Manager or any indemnified Person related to a
Manager. 
 “THL Investors” shall have the meaning given to such term in the Principal Investor Agreement. 
 “TPG Investors” shall have the meaning given to such term in the Principal Investor Agreement. 
 7. Assignment, etc. Except as provided below, none of the parties hereto shall have the right to assign this Agreement without the prior written
consent of each of the other parties. Notwithstanding the foregoing, (a) any Manager may assign all or part of its rights and 

  

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obligations hereunder to any of its respective affiliates which provides services similar to those called for by this Agreement, in which event such Manager
shall be released of its rights to fees under Section 2 and reimbursement of expenses under Section 4(a) and all of its obligations hereunder and (b) the provisions hereof for the benefit of Indemnitees of the Managers shall inure to
the benefit of such Indemnitees and their successors and assigns. 
 8. Amendments and Waivers. No amendment or waiver of any term,
provision or condition of this Agreement shall be effective unless in writing and executed by the Requisite Managers and the Univision Corporations; provided, that any amendment that would increase any fee pursuant to this Agreement shall
require the written consent of the Requisite Managers and the Univision Corporations and any amendment or waiver that discriminates against a Manager will require the consent of such Manager; and provided, further, that any Manager may
waive any portion of any fee to which it is entitled pursuant to this Agreement, and, unless otherwise directed by such Manager, such waived portion shall revert to the other Managers, according to the Managers’ Pro Rata Percentage, without
taking into account such waiving Manager. No waiver on any one occasion shall extend to or effect or be construed as a waiver of any right or remedy on any future occasion. No course of dealing of any person nor any delay or omission in exercising
any right or remedy shall constitute an amendment of this Agreement or a waiver of any right or remedy of any party hereto. 
 9.
Governing Law; Jurisdiction. 
 (a) Choice of Law. This Agreement and all matters arising under or related to
this Agreement shall be governed by and construed in accordance with the domestic substantive laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule that would cause the application of the domestic
substantive laws of any other jurisdiction. 
 (b) Consent to Jurisdiction. Each party to this Agreement, by its
execution hereof, (i) hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the State of Delaware for the purpose of any action, claim, cause of action or suit (in contract, tort or otherwise),
inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof, (ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to allow any
of its subsidiaries to assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or
execution, that any such proceeding brought in one of the above-named courts is improper, or that this Agreement or the subject mater hereof or thereof may not be enforced in or by such court and (iii) hereby agrees not to commence or maintain
any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof or thereof other than before one of the
above-named courts nor to make any motion or take any other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation to any
court other than one of the above-named courts whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the 

  

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extent that any party hereto is or becomes a party in any litigation in connection with which it may assert indemnification rights set forth in this
agreement, the court in which such litigation is being heard shall be deemed to be included in clause (i) above. Notwithstanding the foregoing, any party to this Agreement may commence and maintain an action to enforce a judgment of any of the
above-named courts in any court of competent jurisdiction. Each party hereto hereby consents to service of process in any such proceeding in any manner permitted by Delaware law, and agrees that service of process by registered or certified mail,
return receipt requested, at its address specified pursuant to Section 11 hereof is reasonably calculated to give actual notice. 
 (c) WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR
OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT
MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO
THAT THIS SECTION 9(c) CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION
9(c) WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 
 10. Entire
Agreement. This Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersedes any prior communication or agreement with respect thereto. 
 11. Notice. Any notices and other communications required or permitted in this Agreement shall be effective if in writing and (a) delivered
personally, (b) sent by facsimile or email (if provided and the recipient acknowledges receipt thereof by reply e-mail or otherwise), or (c) sent by overnight courier, in each case, addressed as follows: 
 If to a Univision Corporation, to it: 
 c/o
Univision Communications Inc. 
 1999 Avenue of the Stars, Suite 3050 
 Los Angeles, California 90067 
 Facsimile
No.: (310) 556-1526 
 Attention: General Counsel 
  

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 with a copy (which shall not constitute notice) to: 
 Weil, Gotshal & Manges LLP 
 50 Kennedy Plaza, 11th Floor 
 Providence, Rhode Island 02903

 Facsimile No.: (401) 278-4701 
 Attention: David K. Duffell, Esq. 
 if to MDPIV or MDPV, to them: 
 c/o Madison Dearborn Partners 
 Three First
National Plaza, suite 3800 
 Chicago, Illinois, 60602 
 Facsimile No.: (312) 895-1221 
 Attention: James N. Perry, Jr. 
 with a copy (which shall not constitute notice) to: 
 Three First National Plaza, suite 3800 
 Chicago, Illinois, 60602 
 Facsimile No.: (312) 895-1041 
 Attention:
Mark Tresnowski, Esq. 
 if to PEPV or PEPVI, to them: 
 c/o Providence Equity Partners Inc. 
 50 Kennedy
Plaza, 18th Floor 
 Providence, Rhode Island 02903 
 Facsimile No.: (401) 751-1790 
 Attention: Jonathan M. Nelson 
 with a copy
(which shall not constitute notice) to: 
 Weil, Gotshal & Manges LLP 
 50 Kennedy Plaza, 11th Floor 
 Providence, Rhode Island 02903

 Facsimile No.: (401) 278-4701 
 Attention: David K. Duffell, Esq. 
 If to SCG, to it: 
 c/o Saban Capital Group 
 10100 Santa Monica
Boulevard 
 Suite 2600 
 Los
Angeles, California 90067 
 Facsimile No.: (310) 557-5103 
 Attention: Adam Chesnoff 
  

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 with a copy (which shall not constitute notice) to: 
 10100 Santa Monica Boulevard 
 Suite 2600

 Los Angeles, California 90067 
 Facsimile No.: (310) 557-5103 
 Attention: Niveen Tadros, Esq. 
 If to THL, to it: 
 c/o Thomas H. Lee
Partners, L.P. 
 100 Federal Street, 35th Floor 
 Boston, Massachusetts 02110 
 Facsimile No.: (617) 227-3514 
 Attention: Scott Sperling 
 with a copy
(which shall not constitute notice) to: 
 Weil, Gotshal & Manges LLP 
 100 Federal Street, 34th Floor 
 Boston,
Massachusetts 02110 
 Facsimile No.: (617) 772-8333 
 Attention: David P. Kreisler, Esq. 
 If to TPG, to it: 
 c/o Texas Pacific Group 
 301 Commerce
Street, Suite 3300 
 Fort Worth, Texas 76102 
 Facsimile No.: (817) 871-4010 
 Attention: Clive D. Bode 
 with a copy (which shall not constitute notice) to: 
 Cleary Gottlieb Steen & Hamilton LLP 
 One Liberty Plaza 
 New York, New York 10006 
 Facsimile No.:
(212) 225-3999 
 Attention: Paul L. Shim, Esq. 
 Unless otherwise specified herein, such notices or other communications shall be deemed effective (x) on the date received, if personally delivered, (y) on the date received if delivered by facsimile on a
business day, or if not delivered on a business day, on the, first business day thereafter and (z) two business days after being sent by overnight courier. Each of the parties hereto shall be entitled to specify a different address by giving
notice as aforesaid to each of the other parties hereto. 
  

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 12. Severability. In the event that any provision hereof would, under applicable law, be invalid
or unenforceable in any respect, such provision shall be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. The provisions hereof are severable, and in
the event any provision hereof should be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect any other provision hereof. 
 13. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which taken
together shall constitute one instrument. A facsimile signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and effect as if the signature were an original. 
 14. Payments. Each payment made pursuant to Sections 2 or 3 shall be paid by wire transfer of immediately available federal funds to the accounts
specified on Schedule 3 hereto, or to such other account(s) as the applicable Manager may specify to the Company in writing prior to such payment. 
 15. TPG Payment. The Company and the Managers hereby acknowledge that, from and after the date hereof, 21.32% of all Transaction Fee, Periodic Fees and Subsequent Fees received by TPG shall be in respect of the services performed by
the Managers in connection with the investment of TPG Partners Umbrella International IV, L.P. in the Univision Corporations, 11.49% of all Transaction Fee, Periodic Fees and Subsequent Fees received by TPG shall be in respect of the services
performed by the Managers in connection with the investment of TPG Partners Umbrella IV, L.P. in the Univision Corporations, 33.38% of all Transaction Fee, Periodic Fees and Subsequent Fees received by TPG shall be in respect of the services
performed by the Managers in connection with the investment of TPG Umbrella V, L.P. in the Univision Corporations, 25.06% of all Transaction Fee, Periodic Fees and Subsequent Fees received by TPG shall be in respect of the services performed by the
Managers in connection with the investment of TPG Umbrella International V, L.P. in the Univision Corporations, 1.86% of all Transaction Fee, Periodic Fees and Subsequent Fees received by TPG shall be in respect of the services performed by the
Managers in connection with the investment of TPG Umbrella Co-Investment, L.P. in the Univision Corporations, and 6.90% of all Transaction Fee, Periodic Fees and Subsequent Fees received by TPG shall be in respect of the services performed by the
Managers in connection with the investment of TPG Umbrella International Co-Investment, L.P. in the Univision Corporations. Such allocation is in accordance with the respective Purchase Price Value of the Shares held by each of TPG Umbrella IV,
L.P., TPG Umbrella International IV, L.P., TPG Umbrella V, L.P., TPG Umbrella International V, L.P., TPG Umbrella Co-Investment, L.P. and TPG Universe International Co-Investment, L.P. as the date of determination. 
 [Remainder of Page Intentionally Left Blank] 
  

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 IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement (or caused this Agreement to be executed on
its behalf by its officer or representative thereunto duly authorized) under seal as of the date first above written. 
  

					
	 THE COMPANY:
	 	BROADCASTING MEDIA PARTNERS, INC.
			
		 	By:	 	 *

		 	Name:	 	James C. Carlisle
		 	Title:	 	Vice President

  

					
	 MIDCO:
	 	BROADCAST MEDIA PARTNERS HOLDINGS, INC.
			
		 	By:	 	 *

		 	Name:	 	James C. Carlisle
		 	Title:	 	Vice President

  

					
	ACQUISITION SUB:	 	UMBRELLA ACQUISITION, INC.
			
		 	By:	 	 *

		 	Name:	 	James C. Carlisle
		 	Title:	 	Vice President

  

	*	The signature appearing immediately below shall serve as a signature at each place indicated with an “*” on this page: 

  

			
		 	 /s/ James C. Carisle

	Name:	 	James C. Carlisle
	Title:	 	Vice President

 SIGNATURE PAGE TO MANAGEMENT AGREEMENT 

			
	 MADISON DEARBORN PARTNERS IV, L.P.

		
	By:	 	Madison Dearborn Partners, LLC, its General Partner
		
	 By:
	 	  

	 Name:
	 	James N. Perry, Jr.
	 Its:
	 	Managing Director
	
	 MADISON DEARBORN PARTNERS V-B, L.P.

		
	By:	 	Madison Dearborn Partners, LLC, its General Partner
		
	 By:
	 	 /s/ James N. Perry, Jr.

	 Name:
	 	James N. Perry, Jr.
	 Its:
	 	Managing Director

 SIGNATURE PAGE TO MANAGEMENT AGREEMENT 

			
	 PROVIDENCE EQUITY PARTNERS V INC.

		
	 By:
	 	  

	 Name:
	 	Mark Masiello
	 Title:
	 	Managing Director
	
	 PROVIDENCE EQUITY PARTNERS L.L.C.

		
	 By:
	 	 /s/ Mark Masiello

	 Name:
	 	Mark Masiello
	 Title:
	 	Managing Director

 SIGNATURE PAGE TO MANAGEMENT AGREEMENT 

			
	 KSF CORP.

		
	 By:
	 	 /s/ Adam Chesnoff

	 Name:
	 	Adam Chesnoff
	 Title:
	 	President

 SIGNATURE PAGE TO MANAGEMENT AGREEMENT 

			
	 THL MANAGERS VI, LLC

		
	 By:
	 	Thomas H. Lee Partners, L.P., its Managing Member
		
	 By:
	 	Thomas H. Lee Advisors, LLC, its General Partner
		
	 By:
	 	 /s/ Scott Sperling

	 Name:
	 	Scott Sperling
	 Title:
	 	Managing Director

 SIGNATURE PAGE TO MANAGEMENT AGREEMENT 

			
	 TPG CAPITAL, L.P.

		
	 By:
	 	Tarrant Capital, LLC, its General Partner
		
	 By:
	 	 /s/ Clive D. Bode

	 Name:
	 	Clive D. Bode
	 Title:
	 	Vice President

 SIGNATURE PAGE TO MANAGEMENT AGREEMENT 

 SCHEDULE 1 
 Managers’ Pro Rata Percentage 
  

			
	 MDPIV:
	  	10.26081%
	 MDPV:
	  	13.05324%
	 PEPV:
	  	13.71127%
	 PEPVI:
	  	9.60278%
	 SCG:
	  	6.74381%
	 THL:
	  	23.31405%
	 TPG:
	  	23.31405%

 SCHEDULE 2 
 Funds Flow Memo 
  

 SCHEDULE 3 
 Managers’ Bank Accounts 
  

			
	 MANAGER
	  	BANK ACCOUNT
		
	Madison Dearborn Partners IV, L.P.	  	Northern Trust
		  	ABA #: 071000152
		  	A/C #: 46116
		
	Madison Dearborn Partners V-B, L.P.	  	JP Morgan Chase
		  	ABA #: 021000021
		  	A/C #: 719532889
		
	Providence Equity Partners V Inc.	  	Bank of America
		  	111 Westminster Street
		  	Providence, RI 02903
		  	ABA #: 026009593
		  	A/C #: 94-9509-6913
		
	Providence Equity Partners L.L.C.	  	Bank of America
		  	111 Westminster Street
		  	Providence, RI 02903
		  	ABA #: 026009593
		  	A/C #: 39-4055-7474
		
	KSF Corp.	  	City National Bank
		  	2029 Century Park East, 2nd Floor
		  	Los Angeles, CA 90067
		  	ABA #: 122016066
		  	A/C #: 112-091327
		
	THL Managers VI LLC	  	Bank of America
		  	ABA #: 026009593
		  	A/C #: 00460-528-6131
		  	Reference: Univision Fee
		
	TPG Capital, L.P.	  	JP Morgan Chase Bank
		  	New York, NY
		  	ABA #: 021000021
		  	A/C #: 722602604
		  	Account Name: TPG Capital, L.P.Employment Agreement dated March 29, 2007, Joseph Uva

 Exhibit 10.12 
 This EXECUTIVE EMPLOYMENT AND NON-COMPETITION AGREEMENT (this “Agreement”), dated as of March 29, 2007, by and between Broadcasting Media Partners, Inc. (formerly known as Umbrella Holdings,
LLC), a Delaware corporation (the “Company”), and Joseph Uva (the “Executive”). 
 WHEREAS, the Company
desires that Executive become employed by the Company effective on April 2, 2007 (the “Effective Date”); and 
 WHEREAS, the Company desires to be assured that the confidential information and goodwill of the Company will be preserved for the exclusive benefit of the Company and that, in consideration of the compensation, benefits and continued
employment of Executive hereunder, Executive will not be employed with any competitor of the Company for a limited period following Executive’s termination of employment with the Company; 
 NOW, THEREFORE, in consideration of such employment and the mutual covenants and promises herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Executive agree as follows: 
 1. Employment.
The Company hereby agrees to employ Executive, and Executive hereby agrees to accept employment with the Company, upon the terms and conditions contained in this Agreement. Executive’s employment with the Company shall continue, subject to
earlier termination of such employment pursuant to the terms hereof, until the fourth anniversary of the Effective Date (the “Initial Term”). On the fourth anniversary of the Effective Date and on each anniversary thereof, the term
of the Agreement shall be automatically extended for an additional twelve-month period (the Initial Term, together with any extension, the “Employment Period”). Either the Company or Executive may elect to terminate the automatic
extension of the Employment Period by giving written notice of such election to the other party not less than six (6) months prior to the end of the then current Employment Period. 
 2. Duties. During the Employment Period, Executive shall serve on a full-time basis and perform services in a capacity and in a manner consistent with Executive’s position as Chief Executive Officer
of the Company and Chief Executive Officer of Univision Communications, Inc. (“UVN”) and such other wholly owned subsidiaries of the Company as the Executive may reasonably determine in consultation with the Board of Directors of
UVN. Executive shall also be a member of the Board of Directors of the Company (the “Board”) and a member of the board of directors of UVN and such other subsidiaries of the Company as reasonably requested by the Board. Executive
shall have the duties and authorities commensurate with his positions as the Chief Executive Officer of the Company and UVN, and such other duties, consistent with his position, as may reasonably be assigned to him from time to time by the Board,
and shall not be assigned any duties that are not consistent with his positions as Chief Executive Officer and a member of the board of directors of the Company, UVN or other subsidiary of the Company. If one of the Company or its affiliates (not
including any of the Sponsors or other portfolio companies owned by any Sponsor) becomes a public company, Executive shall be the Chief Executive Officer and a member of the board of directors of such public company. Executive 

 
will report solely and directly to (a) the Board and any committee thereof and (b) to Haim Saban personally as a member of the Board (and not, for
the avoidance of doubt, through Saban Capital or any employee or director thereof other than Haim Saban). In the event of any conflict in directions provided by the Board or Haim Saban, the directions of the Board shall be controlling. Haim Saban is
not entitled to have direct authority as to any employees (other than Executive) and thus any requests made directly to such employees are subject to Executive’s authority to manage the day-to-day activities of his direct reports and other
employees. Executive shall devote his entire business time, attention and good faith efforts (excepting vacation time, holidays, sick days and periods of disability) in his employment and service with the Company and its affiliates; provided,
however, that this Section 2 shall not be interpreted as prohibiting Executive from managing his personal affairs or engaging in charitable or civic activities, or, with the written consent of the Board, serving as a director of
or providing services to another business or enterprise (whether engaged in for profit or not; provided, however, with respect to for profit businesses, the Executive shall be limited to serving as a director or managing a passive investment), so
long as such activities do not materially interfere with the performance of Executive’s duties and responsibilities hereunder. Executive may continue to serve on the Board of Directors of the organizations listed on the Schedule of
Boards consistent with his level of activities to date with respect to such organization. 
 For purposes of this Agreement,
“Sponsors” shall mean the “principal investors” as defined in the Stockholders Agreement by and among the Company, Broadcast Media Partners Holdings, Inc., Umbrella Acquisition, Inc. and Certain Stockholders of the Company, dated
as of March 29, 2007, as amended from time to time. 
 3. Location Of Employment and Relocation Benefits. Executive shall work in either
the New York, Los Angeles or Miami metropolitan areas, as determined by the Board in consultation with Executive. The initial establishment of the Executive in the New York metropolitan area (including New Jersey) shall not be treated as a
relocation or as a decision to locate the executive offices of the Company in New York, and the Board, in consultation with Executive, may shift (but only once) the executive offices to one of the other two metropolitan areas during the first two
years of the Initial Term. In the event the executive offices of the Company are relocated to the Los Angeles or Miami metropolitan areas, the Company shall provide customary relocation benefits at a Chief Executive Officer level, including
temporary housing as reasonably required by Executive and a full tax gross up with respect to any relocation benefits that are not excludable from the Executive’s income or, if includable in the Executive’s income, are not fully
deductible. Following any relocation outside of the New York metropolitan area, if thereafter Executive is terminated without Cause or resigns for Good Reason, the Company will relocate Executive and his family back to the New York metropolitan area
under the Company’s relocation policy applicable at a Chief Executive Officer level, including a full tax gross up as described above. 
 4.
Compensation. 
 4.1 Base Salary. 
  

 2 

 (a) In consideration of the services rendered by the Executive under this Agreement, the Company shall
pay the Executive a base salary (the “Base Salary”) at an annual rate of $1,150,000 during his employment. Executive’s Base Salary will be reviewed annually and may be increased during the Employment Term in the discretion of
the Board, but may not be decreased. 
 (b) The Base Salary shall be paid in such installments and at such times as the Company pays its
regularly salaried executives and shall be subject to all necessary withholding taxes, FICA contributions and similar deductions. 
 4.2
Sign On Bonus. Executive shall receive a $1 million cash payment on or about the Effective Date, which shall be applied (i) to pay applicable income and employment taxes on such payment (estimated to be $430,000) and (ii) to
purchase approximately $570,000 of the Restricted Shares (as described in Section 4.4(b) below). 
 4.3 Annual Bonus.
Executive shall be entitled to an annual target bonus of 150% of annual salary for such fiscal year, subject to performance goals established by the Board in good faith, and shall have the opportunity to earn a higher annual bonus if target
performance goals are commensurately exceeded, as determined by the Board in good faith. With respect to 2007, Executive shall be entitled to receive an annual bonus as follows: (i) a bonus payment on or about the Effective Date in the amount
of $300,000, which shall be used to pay applicable income and employment taxes on the receipt of such bonus and on the Class A Common Stock included in the Initial Stock Award (as defined below), and (ii) a target bonus opportunity of
$1,425,000 (provided that the amount actually paid with respect to such bonus shall not be less than $850,000). 
 4.4 Equity Grants.

 (a) Initial Stock Award. On the Effective Date, Executive shall be granted an equity award representing shares of Preferred Stock of
Broadcast Media Partners Holdings, Inc., and Class L Common Stock of the Company (which shall be in the form of restricted stock units) and Class A Common Stock of the Company (which shall be in the form of restricted shares) (collectively, the
“Company Securities”) having an aggregate fair market value of $5 million on such date (the “Initial Stock Award”), in the same proportion as the classes of such stock are being purchased by the Sponsors. The terms
and form of the Initial Stock Award shall be set forth in an award agreement, which shall be in substantially the same form as Exhibit A attached hereto. 
 (b) Restricted Share Award. Executive shall purchase, as of the Effective Date or such later date as set forth in Section 4.4(c), restricted shares of the Class A Common Stock of the Company,
which shall represent, on the date of the closing of the transactions contemplated by the Merger Agreement (defined below), 0.7% of the fully diluted appreciation in the value of the common stock of the Company (excluding preferences with respect to
the Class L Common Stock of the Company) (the “Restricted Shares”). The terms of the Restricted Shares shall be set forth in Executive’s award agreement, which shall be in substantially the same form as Exhibit B
attached hereto. 
  

 3 

 (c) Loan. The Company shall make a recourse loan to Executive, in the approximate amount of
$2,023,000, solely for the purpose of enabling Executive to complete the purchase of the Restricted Shares, and such loan shall have the lowest permitted applicable federal rate of interest thereon. One-third of Executive’s annual bonus
(described in Section 4.3), starting with the annual bonus for the Company’s fiscal year commencing January 1, 2008, shall be applied to repayment of the loan and any interest accrued thereon. The loan shall be governed by a
Secured Promissory Note and Pledge Agreement in the form of Exhibit C attached hereto. Notwithstanding the above, such loan shall not be made to Executive until such time as the Company or any of its affiliates shall no longer be an SEC
reporting company. 
 (d) Equity Investment. In addition, Executive shall invest at least $500,000 in Company Securities in the same
classes, in the same proportion and on substantially the same terms as such securities are being purchased by the Sponsors on the closing date of the transactions contemplated by the Merger Agreement (described below). 
 4.5 Vacation. Executive shall be entitled to twenty (20) annual paid vacation days, which shall accrue and be useable by Executive in
accordance with Company policy, as may be in effect from time to time. 
 4.6 Benefits. During the term of Executive’s employment
under this Agreement, Executive shall be entitled to participate in any benefit plans, including medical, disability and life insurance (but excluding any severance or bonus plans unless specifically referenced in this Agreement) offered by the
Company as in effect from time to time (collectively, “Benefit Plans”), on the same basis as those generally made available to other senior executives of the Company, to the extent Executive may be eligible to do so under the terms
of any such Benefit Plan. Executive understands that any such Benefit Plans may be terminated or amended from time to time by the Company in its discretion. Until Executive is eligible for Company medical insurance, the Company will pay
Executive’s COBRA continuation coverage, or reimburse Executive for such coverage on an after-tax basis. 
 4.7 Perquisites.
During the Employment Period, the Company shall pay for and provide for the Executive (i) term life insurance coverage in (a) an amount of $2 million and (b) an additional amount of $1 million during the first 10 years of
Executive’s employment with the Company, and thereafter, such $1 million amount is subject to adjustment if the cost exceeds standard rates, (ii) long-term disability benefits of $660,000 per annum and (iii) reimbursement for the cost
of an annual physical examination. 
 5. Termination. Executive’s employment hereunder may be terminated as follows:

 5.1 Automatically in the event of the death of Executive; 
 5.2 At the option of the Company, within 30 days of the determination of Permanent Disability, by written notice to Executive or his personal representative in the event of the Permanent Disability of Executive. As
used herein, the term “Permanent Disability” shall mean a physical or mental incapacity or disability which has rendered the Executive unable to perform his material duties for a period of 180 days in any twelve-month period;

  

 4 

 5.3 At the option of the Company for Cause (as defined in Section 6.4), on prior written
notice to the Executive in accordance with Section 6.4; 
 5.4 At the option of the Company at any time without Cause;

 5.5 At the option of Executive, at any time, for any reason, on sixty (60) days prior written notice to the Company; or 

5.6 At the option of Executive for Good Reason (as defined in Section 6.5), on prior written notice to the Company in accordance with
Section 6.5. 
 6. Severance Payments. 
 6.1 Termination Without Cause, by Executive for Good Reason or by Non-renewal of Agreement. If Executive’s employment is terminated at any time during the Employment Period by the Company without Cause, by
Executive for Good Reason or if the Executive’s employment is terminated hereunder as a result of non-renewal of this Agreement by the Company, Executive shall be entitled to an amount equal to (i) his Base Salary through the date of
termination plus (ii) (A) one (1) times Base Salary if such termination occurs prior to the second anniversary of the Effective Date or (B) two (2) times the sum of his Base Salary and the annual cash bonus earned for the
year preceding the year including the date of termination, if such termination occurs on or after the second anniversary of the Effective Date, payable in accordance with the usual payroll policies in effect at the Company as if Executive continued
to be employed, plus (iii) any annual bonus earned with respect to a fiscal year ending prior to the date of such termination but unpaid as of such date, payable at the same time as such payment would be made if Executive continued to be
employed by the Company plus (iv) a pro-rata annual bonus, if any, for the calendar year in which such termination occurs (based on the actual results of the Company for such calendar year), payable at the same time as such bonus would be made
if Executive was still employed by the Company. Executive shall also be entitled to any accelerated or continued vesting or payment with respect to his equity awards as provided in the applicable equity plan or award agreement, any relocation
benefits described in Section 3 hereof, two (2) years of continued life insurance and group medical coverage for Executive and eligible dependents upon the same terms as provided to senior executive officers of the Company and at
the same coverage levels as in effect immediately prior to such termination of employment, provided that such continued life insurance and group medical coverage shall cease upon Executive becoming employed by another employer and eligible for life
insurance and/or medical coverage with such other employer, any accrued and unpaid vacation pay, and any other benefits which may be owing in accordance with the Company’s policies. 
 6.2 Death or Permanent Disability. Upon the termination of Executive’s employment due to death or Permanent Disability, Executive or his
legal representatives shall be entitled to receive an amount equal to Base Salary payable through the date of termination as well as amounts described under Section 6.1(iii) and (iv) hereof. Executive or his legal representatives
shall also be entitled to any accelerated vesting or other benefits with respect to any of Executive’s equity awards, as provided under the terms of the applicable equity plan and award agreement, two (2) years of continued life insurance
and group medical coverage for Executive 

  

 5 

 
and eligible dependents upon the same terms as provided to senior executive officers of the Company and at the same coverage levels as in effect immediately
prior to such termination of employment, provided that such continued life insurance and group medical coverage shall cease upon Executive becoming employed by another employer and eligible for life insurance and/or medical coverage with such other
employer, any accrued and unpaid vacation pay, and any other benefits which may be owing in accordance with the Company’s policies. 
 6.3 Termination for Cause or by Executive without Good Reason. Except for Base Salary through the day on which Executive’s employment was terminated, any accrued and unpaid vacation pay and any other vested benefits which may be
owing in accordance with the Company’s policies or applicable law, Executive shall not be entitled to receive severance after the last date of employment with the Company upon the termination of Executive’s employment hereunder by the
Company for Cause pursuant to Section 5.3, or upon Executive’s termination of his employment hereunder pursuant to Section 5.5; provided, however, that for the avoidance of doubt, Executive’s equity awards shall be
treated as provided in the applicable equity plan or award agreement. 
 6.4 Cause Defined. For purposes of this Agreement, the term
“Cause” shall mean: 
 (a) Executive’s willful failure to perform his services hereunder in any material way after
notice from the Board and an opportunity to cure; 
 (b) material breach of fiduciary duty; 
 (c) Executive’s conviction of (or pleading guilty or nolo contendere in respect of) a felony or any lesser offense involving willful and
material dishonesty or moral turpitude; 
 (d) material, willful misconduct with regard to the Company or any of its subsidiaries, or any
employees, officers or directors thereof with regard to matters related to the Company or any of its subsidiaries; or 
 (e) material breach
by Executive of any of the provisions of this Agreement after notice from the Board and an opportunity for 30 days to cure (if curable). 
 provided,
that, in each case, Executive may be terminated for Cause only after prompt notice alleging specific facts or circumstances, a meeting with the Board and a majority vote of the Board (excluding employees of the Company or any of its
subsidiaries). No act or failure to act will be considered “willful” unless done or omitted to be done in bad faith or without a reasonable belief that the action or omission was in the best interests of the Company or with reckless
disregard of the consequences. 
 6.5 Good Reason Defined. For purposes of this Agreement, the term “Good Reason”
shall mean, without Executive’s prior written consent: 
 (a) any failure of Executive to hold the title of Chief Executive Officer and
be a member of the Board or its ultimate parent other than by reason of Executive’s termination of employment; 
  

 6 

 (b) any significant diminution in the Executive’s responsibilities, authorities or duties (other
than purely as a result of the Company after an IPO becoming a non-reporting company so long as Executive is the CEO of the ultimate parent of the Company); 
 (c) any requirement that Executive relocate his principal place of employment to any city other than New York, Los Angeles or Miami (and nearby areas), or after having relocated from New York City and its nearby areas
pursuant to Section 3 above, to either Los Angeles or Miami (including nearby areas), the Company requires Executive to subsequently relocate to a different city and its nearby areas unless such relocation is at the request of the Executive;

 (d) any material, willful breach by the Company of any of its material obligations to the Executive; and 
 (e) any failure to obtain in a writing delivered to Executive an assumption of Executive’s employment contract by a successor to all or
substantially all of the assets of the Company; 
 provided, that, in each case, any resignation for Good Reason requires notice by Executive
to the Board within 90 days of Executive’s knowledge of the specific facts and circumstances constituting Good Reason stating such specific facts and circumstances and the Company shall have a reasonable opportunity to cure such circumstances
(if curable) within 30 days of receipt of such notice. For the avoidance of doubt, Good Reason shall not exist hereunder unless and until the thirty-day cure period following receipt by the Company of Executive’s written notice expires and the
Company shall not have cured such circumstances, and in such case Executive’s employment shall terminate for Good Reason on the day following expiration of such thirty-day cure period. 
 6.6 Change in Control Benefits. With respect to the Company Securities referred to in Sections 4.4 (a) and (b) hereof (including,
for the avoidance of doubt, the Restricted Shares), if, in the event a Change in Control of the Company (as defined in Executive’s equity award agreements attached hereto) within six months following a Protected Termination, the net cash
proceeds realized per share with respect to any class of Company Securities exceeds the Fair Market Value (as defined in Executive’s equity award agreement attached hereto) of the Company Securities in the same class received by Executive, then
Executive shall be entitled to an additional payment as soon as reasonably practicable following such Change in Control, equal to the positive difference, on a per share basis, between the net cash proceeds and Fair Market Value multiplied by the
number of Company Securities previously sold by Executive. This Section 6.6 shall not apply to any Company Securities, other than the Initial Stock Award, sold by Executive to the Company for cost (rather than Fair Market Value) and
payment under this Section 6.6 shall be limited to the difference between Fair Market Value and cost to Executive of such Company Securities if Executive received Fair Market Value for the Company Securities because the Fair Market Value
was less than the cost of such shares on the date of such sale. 
  

 7 

 (a) For purposes of this Agreement, “Protected Termination” shall mean termination of
Executive’s employment: 
  

	 	(i)	due to Executive’s death or Permanent Disability; 

  

	 	(ii)	by Executive upon resignation for Good Reason; and 

  

	 	(iii)	by the Company without Cause. 

 6.7 Acquisition of
UVN. In the event the Sponsors decide not to proceed with the acquisition of UVN as contemplated by that Agreement and Plan of Merger by and among the Company, Umbrella Acquisition, Inc. and UVN, dated as of June 26, 2006 (the “Merger
Agreement”), and Executive’s employment with the Company is terminated other than for Cause on or following the abandonment of such acquisition, the Initial Stock Award shall be cancelled and void ab initio and Executive shall be
paid $5 million in cash as soon as reasonably practicable following such termination of employment in lieu of any other benefits under this Agreement, including, without limitation, Section 6.1, and in satisfaction of all obligations to
Executive in respect of his employment with the Company (other than accrued and unpaid salary, if any). In the event of a termination of employment under this Section 6.7, the restrictive covenants contained in Sections 9.1 and
9.2 hereof shall not apply. 
 6.8 Condition to Payment. All payments and benefits due to Executive under this
Section 6 which are not otherwise required by law shall be contingent upon execution by Executive (or Executive’s beneficiary or estate) of a general release of all claims in the form attached hereto as Exhibit D. 

6.9 No Other Severance. Executive hereby acknowledges and agrees that, other than the severance payment described in this
Section 6, upon termination, Executive shall not be entitled to any other severance under any Company benefit plan or severance policy generally available to the Company’s employees or otherwise. 
 6.10 Resignation. Upon termination of Executive’s employment for any reason, Executive agrees to resign, as of the date of such termination
and to the extent applicable, as an officer of the Company and its affiliates and as a member of the Board and its committees and the Board of Directors or other managing body of any affiliate of the Company and their committees. 
 7. Parachute Tax-Gross Up. 
 7.1 Public
Company Status. 
 (a) In the event that the stock of the Company is publicly traded and any payment or benefit to Executive under this
Agreement or any other plan, arrangement or 

  

 8 

 
agreement with the Company (including, without limitation, any payment or benefit in connection with the Restricted Stock Units or Restricted Shares) (the
“Payments”) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), the Company shall pay to Executive an additional amount (the “Gross-Up Payment”) such that
the net amount retained by the Executive, after deduction of all Excise Taxes on the Payments, and all Excise Taxes, federal, state and local income taxes, and federal employment taxes on the Gross-Up Payment, shall be equal to the amount of the
Payments. 
 (b) For purposes of determining whether any of the Payments will be subject to the Excise Tax, such determination shall be
initially made by tax counsel selected by the Company who shall deliver an opinion or such other applicable documentation, but only to the extent necessary for Executive to have substantial authority for filing his income tax return with the
Internal Revenue Service. For purposes of determining the amount of the Gross-Up Payment, Executive shall be deemed to pay federal income taxes at the highest marginal rates of federal income taxation applicable to individuals in the calendar year
in which the Gross-Up Payment is to be made and state and local income taxes at the highest marginal rates of taxation applicable to individuals as are in effect in the state and locality of Executive’s residence in the calendar year in which
the Gross-Up Payment is to be made, net of the maximum reduction in federal income taxes that can be obtained from deduction of such state and local taxes, taking into account any limitations applicable to individuals subject to federal income tax
at the highest marginal rates. 
 (c) The Gross-Up Payments provided for in this Section 7.1 shall be made upon the earlier of
(i) the payment to Executive of any Payment or (ii) the imposition upon Executive or payment by Executive of any Excise Tax upon any Payment. If it is established pursuant to a final determination of a court or an Internal Revenue Service
proceeding or the opinion of Tax Counsel that the Excise Tax is less than the amount taken into account under this Section 7.1, Executive shall repay to the Company within thirty (30) days of the later of the Executive’s
receipt of notice of such final determination or opinion and Executive’s receipt of a refund or credit from the IRS in respect of any such amount, the portion of the Gross-Up Payment attributable to such reduction (plus the portion of the
Gross-Up Payment attributable to the Excise Tax and federal, state and local income tax imposed on the Gross-Up Payment being repaid by Executive, if such repayment results in a reduction in Excise Tax or a federal, state and local income tax
deduction) plus any interest received by Executive on the amount of such repayment. If it is established pursuant to a final determination of a court, an Internal Revenue Service proceeding, or the opinion of Tax Counsel that the Excise Tax exceeds
the amount taken into account hereunder (including by reason of any payment the existence or amount of which cannot be determined at the time of the Gross-Up Payment), the Company shall make an additional Gross-Up Payment in respect of such excess
within thirty (30) days of the Company’s receipt of notice of such final determination or opinion. 
 7.2 Private Company
Status. In the event that the stock of the Company is not publicly traded and the exemption described in Section 280G(b)(5) of the Internal Revenue Code of 1986, as amended (the “Code”) would apply to payments by the
Company to Executive in connection with a change in control (as defined in Section 280G of the Code) if the requisite 

  

 9 

 
shareholder approval is obtained, Executive shall be entitled to receive an additional payment equal to the amount of the Excise Tax, if any, on the
Payments, including the additional payment (but, for the avoidance of doubt, shall not be entitled to any tax gross-up payment with respect to any other taxes, including, without limitation, income or employment taxes, on the Excise Tax). If
Executive advises the Company that he is willing to waive his rights to receive excess parachute payments in connection with the transaction which could cause excise taxes under Section 4999 of the Code to apply, the Company shall use
reasonable best efforts to, following such waiver, obtain the requisite shareholder approval of any such excess parachute payments. In the event such shareholder approval is obtained, the Executive acknowledges and agrees that he is not entitled to
share in any tax savings resulting from the Company’s deduction of the excess parachute payments. 
 8. Reimbursement of Expenses. The
Company shall reimburse the Executive for all reasonable and necessary expenses actually incurred by the Executive directly in connection with the business and affairs of the Company and the performance of his duties hereunder, upon presentation of
proper receipts or other proof of expenditure and in accordance with such reasonable guidelines or limitations established by the Board from time to time. 
 9. Restrictions on Activities of the Executive. 
 9.1 Non-Competition. 
 (a) During the two-year period commencing on the date Executive’s employment with the Company ends, Executive shall not be employed or otherwise
involved with any of the companies or business units described in Section A of the Schedule of Competitors attached hereto, and any successors thereto and spinoffs therefrom. For avoidance of doubt, Executive may be employed or involved with
a company that owns any of the specifically identified companies in Section A of the Schedule of Competitors or any company that is not primarily focused on or engaged in activities relating to the Hispanic market
(“Non-Hispanic Business Company”) so long as he is not employed by or otherwise directly involved with such specifically identified companies or such activities, and Executive shall not be deemed to be directly involved in
such specifically identified companies or activities relating to the Hispanic market if less than 20% of his duties, responsibilities and activities with respect to any Non-Hispanic Business Company arise from or relate to such specifically
identified companies or activities relating to the Hispanic market, including companies or business units that are primarily focused on or engaged in such activities. Executive shall have the burden of demonstrating that his duties, responsibilities
and activities with respect to such specifically identified companies and activities relating to the Hispanic market constitute less than 20% of his overall duties, responsibilities and activities with any company. 
 (b) During the one-year period following the date Executive’s employment with the Company ends, Executive shall not be employed or otherwise
involved with any of the companies set forth in Section B of the Schedule of Competitors attached hereto, and any successors thereto and spinoffs therefrom. 
  

 10 

 (c) The Company may amend the Schedule of Competitors attached hereto from time to time prior to
the date either party provides a notice of termination of employment to the other party; provided, however, that the number of companies set forth in Section B of such Schedule may not be increased. The Company shall not unreasonably
withhold its consent to Executive’s employment or other involvement with any of the named competitors on the Schedule of Competitors. 
 Notwithstanding anything herein to the contrary, the Executive may hold passive investments in any enterprise the shares of which are publicly traded if such investment constitutes less than one percent (1%) of the equity of such
enterprise. 
 9.2 Non-Solicitation. Executive covenants and agrees that during employment and for a period of two years after the
termination of Executive’s employment under this Agreement, Executive shall not directly or indirectly influence or attempt to influence or solicit present or future employees, performers or independent contractors of the Company or any of its
affiliates to restrict, reduce, sever or otherwise alter their relationship with the Company or such affiliates. The restrictions in this Section 9.2 shall not apply to (x) general solicitations that are not specifically directed to
employees of the Company or any affiliate, (y) serving as a reference at the request of an employee or (z) actions taken in the good faith performance of his duties for the Company. 
 9.3 Confidentiality. Executive shall not, during the Employment Period or at any time thereafter, except in accordance with the performance of his
duties hereunder, directly or indirectly, disclose, reveal, divulge or communicate to any person other than authorized officers, directors and employees of the Company or use or otherwise exploit for his own benefit or for the benefit of anyone
other than the Company, any Confidential Information (as defined below). The Executive shall not have any obligation to keep confidential any Confidential Information if and to the extent disclosure thereof is specifically required by applicable
law; provided, however, that in the event disclosure is required by applicable law, the Executive shall, to the extent reasonably possible, provide the Company with prompt notice of such requirement prior to making any disclosure so
that the Company may seek an appropriate protective order. Promptly upon termination, for any reason, of Executive’s employment with the Company, Executive agrees to deliver to the Company all property and materials within Executive’s
possession or control which belong to the Company or any of its subsidiaries or affiliates which contain Confidential Information. Notwithstanding the foregoing, Executive shall be permitted to retain his rolodex and similar address books, including
those in electronic form, provided that, to the extent any of the foregoing constitutes Confidential Information, Executive shall maintain the confidentiality of such information. 
 “Confidential Information” means any information with respect to the Company or any of its subsidiaries and affiliates, including methods of operation, customer lists, products, prices, fees, costs,
technology, formulas, inventions, trade secrets, know-how, software, marketing methods, plans, personnel, suppliers, competitors, markets or other specialized information or proprietary matters; provided, that, there shall be no
obligation hereunder with respect to, information that (i) is generally available to the public on the Effective Date or (ii) becomes generally available to the public other than as a result of a disclosure not otherwise permissible
hereunder. 
  

 11 

 9.4 Assignment of Inventions. Executive agrees that during the Employment Period, any and all
inventions, discoveries, innovations, writings, domain names, improvements, trade secrets, designs, drawings, formulas, business processes, secret processes and know-how, whether or not patentable or a copyright or trademark, which Executive may
create, conceive, develop or make, either alone or in conjunction with others and related or in any way connected with the Company’s strategic plans, products, processes or apparatus or the Business (collectively,
“Inventions”), shall be fully and promptly disclosed to the Company and shall be the sole and exclusive property of the Company as against Executive or any of Executive’s assignees. Regardless of the status of Executive’s
employment by the Company, Executive and Executive’s heirs, assigns and representatives shall promptly assign to the Company any and all right, title and interest in and to such Inventions made during the Employment Period. 
 Whether during or after the Employment Period, Executive further agrees to execute and acknowledge all papers and to do, at the Company’s expense,
any and all other things necessary for or incident to the applying for, obtaining and maintaining of such letters patent, copyrights, trademarks or other intellectual property rights, as the case may be, and to execute, on request, all papers
necessary to assign and transfer such Inventions, copyrights, patents, patent applications and other intellectual property rights to the Company and its successors and assigns. In the event that the Company is unable, after reasonable efforts and,
in any event, after ten (10) business days, to secure Executive’s signature on a written assignment to the Company, of any application for letters patent, trademark registration or to any common law or statutory copyright or other property
right therein, whether because of his physical or mental incapacity, or for any other reason whatsoever, Executive irrevocably designates and appoints the Secretary of the Company as Executive’s attorney-in-fact to act on Executive’s
behalf to execute and file any such applications and to do all lawfully permitted acts to further the prosecution or issuance of such assignments, letters patent, copyright or trademark. 
 9.5 Survival. This Section 9 shall survive any termination or expiration of this Agreement. 
 10. Remedies. It is specifically understood and agreed that any breach of the provisions of Section 9 of this Agreement is likely to result
in irreparable injury to the Company and that the remedy at law alone will be an inadequate remedy for such breach, and that in addition to any other remedy it may have, the Company shall be entitled to enforce the specific performance of this
Agreement by the Executive and to seek both temporary and permanent injunctive relief (to the extent permitted by law) without bond and without liability should such relief be denied, modified or violated. 
 11. Severable Provisions. The provisions of this Agreement are severable and the invalidity of any one or more provisions shall not affect the
validity of any other provision. In the event that a court of competent jurisdiction shall determine that any provision of this Agreement or the application thereof is unenforceable in whole or in part because of the duration or scope thereof, the
parties hereto agree that said court in making such determination shall have the power to reduce the duration and scope of such provision to the extent necessary to make it enforceable, and that the Agreement in its reduced form shall be valid and
enforceable to the full extent permitted by law. 
  

 12 

 12. Notices. All notices hereunder, to be effective, shall be in writing and shall be deemed
effective when delivered by hand or mailed by (a) certified mail, postage and fees prepaid, or (b) nationally recognized overnight express mail service, as follows: 
 If to the Company: 
 Broadcasting Media Partners, Inc. 
 c/o Univision Communications, Inc. 
 1999 Avenue of the Stars, Suite 3050 
 Los Angeles, California 90067 
 Attn: General Counsel 
 With
copies to (which shall not constitute notice): 
 David K. Duffel, Esq. 
 Weil, Gotshal & Manges LLP 
 100 Federal Street, Floor 34 
 Boston, MA 02110 
 If to the Executive: 
 The
last address shown on records of the Company 
 With copies to (which shall not constitute notice): 
 Michael Sirkin, Esq. 
 Proskauer Rose LLP 
 1585 Broadway 
 New York, NY 10036 
 or to such other address
as a party may notify the other pursuant to a notice given in accordance with this Section 12. 
 13. Miscellaneous. 
 13.1 Executive Representation. Executive hereby represents to the Company that, except as previously disclosed to the Company with respect to
Executive’s most recent former employer, the execution and delivery of this Agreement by Executive and the Company and the performance by Executive of Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene,
or be prevented, interfered with or hindered by, the terms of any employment agreement or other agreement or policy to which Executive is a party or otherwise bound. Executive represents that he will not use or disclose any confidential information
obtained by Executive in connection with his former employment and the Company represents that it shall not ask him to use or disclose such confidential information during the course of Executive’s employment with the Company and UVN.

  

 13 

 13.2 Indemnification. Executive shall be indemnified by the Company for acts taken in his role as
officer, director or fiduciary with respect to the Company or any of its affiliates, as and to the extent provided in the Company’s Certificate of Incorporation as in effect on the Effective Date or any more favorable amendment thereof. In no
event, except as prohibited by law, shall Executive have any less rights of indemnification then those currently set forth in such Certificate. Such obligation shall continue after any termination of employment or directorship with regard to actions
or inactions taken while affiliated with the Company and its affiliates. Executive shall be covered by the Company’s directors and officers insurance policy upon terms and conditions no less favorable than the terms provided by the Company to
any member of the Board (in Executive’s role as a director) or any senior executive of the Company (in Executive’s role as an officer). Such coverage shall continue after Executive’s termination of employment or directorship, but only
while the Company maintains any directors or officers insurance coverage for any of its former directors or officers. 
 13.3 Entire
Agreement; Amendment. Except as otherwise expressly provided herein and as further set forth in the grant agreement of any equity awards, this Agreement constitutes the entire Agreement between the parties hereto with regard to the subject
matter hereof, superseding all prior understandings and agreements, whether written or oral. This Agreement may not be amended or revised except by a writing signed by the parties. 
 13.4 Assignment and Transfer. The provisions of this Agreement shall be binding on and shall inure to the benefit of the Company and any successor
in interest to the Company who acquires all or substantially all of the Company’s assets. Neither this Agreement nor any of the rights, duties or obligations of the Executive shall be assignable by the Executive, nor shall any of the payments
required or permitted to be made to the Executive by this Agreement be encumbered, transferred or in any way anticipated, except as required by applicable laws. All rights of the Executive under this Agreement shall inure to the benefit of and be
enforceable by the Executive’s personal or legal representatives, estates, executors, administrators, heirs and beneficiaries. All amounts payable to the Executive hereunder shall be paid, in the event of the Executive’s death, to the
Executive’s estate, heirs or representatives. 
 13.5 Waiver of Breach. A waiver by either party of any breach of any provision
of this Agreement by the other party shall not operate or be construed as a waiver of any other or subsequent breach by the other party. 
 13.6 Withholding. The Company shall be entitled to withhold from any amounts to be paid or benefits provided to the Executive hereunder any federal, state, local or foreign withholding, FICA contributions, or other taxes, charges or
deductions which it is from time to time required to withhold. The Company shall be entitled to rely on an opinion of counsel if any question as to the amount or requirement of any such withholding shall arise. 
 13.7 Set Off. The Company’s obligation to pay Executive the amounts provided and to make the arrangements provided hereunder shall not be
subject to set-off, counterclaim or 

  

 14 

 
recoupment of any amounts owed by Executive to the Company or its affiliates, except with respect to amounts owed by the Executive to the Company pursuant to
the loan described in Section 4.4(c) of this Agreement. 
 13.8 Section 409A. It is the intention of the parties to
this Agreement that no payment or entitlement pursuant to this Agreement will give rise to any adverse tax consequences to Executive under Section 409A of the Code. The Agreement shall be interpreted to that end and, consistent with that
objective and notwithstanding any provision herein to the contrary, the Company and the Executive shall, to the extent necessary to comply with Section 409A of the Code, agree to act reasonably and in good faith to mutually reform the
provisions of this Agreement to avoid the application of or excise tax under Section 409A of the Code. Notwithstanding any other provision herein, if the Company determines that Executive is a “specified employee”, as defined in, and
pursuant to, Prop. Reg. Section 1.409A-1(i) or any successor regulation, on the date of termination, no payment of compensation under this Agreement shall be made to Executive during the period lasting six months from the date of termination
unless the Company determines that there is no reasonable basis for believing that making such payment would cause Executive to suffer any adverse tax consequences pursuant to Section 409A of the Code. If any payment to Executive is delayed
pursuant to the foregoing sentence, such payment instead shall be made on the first business day following the expiration of the six-month period referred to in the prior sentence. Notwithstanding the foregoing, neither the Company nor its employees
or representatives shall have liability to the Executive with respect hereto in respect of actions taken by the Company in good faith. 
 13.9 Attorney Fees. The Company shall pay or reimburse the Executive for reasonable legal fees incurred in connection with the negotiation and drafting of this Agreement and any equity award agreements, subject to and within ten days
after his request for reimbursement accompanied by evidence that the fees and expenses were incurred. 
 13.10 Arbitration. If any
contest or dispute arises between the parties with respect to this Agreement, such contest or dispute shall be submitted to binding arbitration for resolution in New York, New York in accordance with the rules and procedures of the Employment
Dispute Resolution Rules of the American Arbitration Association then in effect. If the arbitrator determines that the Executive is the prevailing party in the dispute, then the Company shall reimburse the Executive for his reasonable legal or other
fees and expenses incurred in such arbitration subject to and within ten days after his request for reimbursement accompanied by evidence that the fees and expenses were incurred. 
 13.11 Governing Law. This Agreement shall be construed under and enforced in accordance with the laws of the State of New York, without regard to
the conflicts of law provisions thereof. 
 13.12 Counterparts. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original and shall have the same effect as if the signatures hereto and thereto were on the same instrument. 
  

 15 

 [Remainder of page left intentionally blank] 
  

 16 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first
above written. 
  

			
	 COMPANY:

		
	By:	 	 /s/ James C. Carlisle

	Name:	 	James C. Carlisle
	Title:	 	Vice President
	
	EXECUTIVE:
	
	 /s/ Joseph Uva

  

 SCHEDULE OF BOARDS 
 For profit 
 TiVo, Inc. 
 Imaginova Corp. 
 Not for profit 
 Int’l
Radio 
 Television Society Foundation. 
 The Valerie Fund
(Advisory Board only) 
  

 18 

 SCHEDULE OF COMPETITORS 
 Section A. Competitors During the First Two Years After Employment Ends: Disney (including ABC, Disney Cable channels, ABC Radio and other business units that have material television and/or cable advertising
revenues, but excluding during the second year after employment ends, employment with or with respect to ESPN, Disney theme parks and other business units that do not have material television and/or cable advertising revenues), NBC, CBS (including
CBS Radio, CW), Fox and Clear Channel. All other companies or business units thereof which are primarily engaged in activities focusing upon or otherwise directly relating to the Hispanic market (other than any advertising agency that is not engaged
in sales of advertising but the purchase or placement of advertising), including, without limitation, Telemundo, TV Azteca, Televisa, Spanish Broadcasting System, Entravision Communications, Liberman Broadcasting, Yahoo! En Español, Terra,
AOL Latino 
 Section B. Competitors During the First Year After Employment Ends: 
  

	 	•	 	 Time Warner (Turner), Viacom, Comcast, Cablevision 

  

	 	•	 	 Direct TV, Echostar 

  

	 	•	 	 Radio One 

  

	 	•	 	 Citadel Broadcasting 

  

	 	•	 	 Emmis Communications 

  

	 	•	 	 Entercom 

  

	 	•	 	 Cox Radio 

  

	 	•	 	 Saga Communications 

  

	 	•	 	 Sirius Radio 

  

	 	•	 	 XM Radio 

  

 19 

 EXHIBIT D 
 GENERAL RELEASE OF CLAIMS 
 A general release is required as a condition for receiving the severance
benefits described in Section 6 of the Executive Employment and Non-Competition Agreement dated March 29, 2007, (the “Employment Agreement”). Thus, by executing this General Release (“General Release”), you have advised
us that you waive any and all claims against Broadcasting Media Partners (the “Company”), and its subsidiaries and affiliated or related entities, and any and all of their respective predecessors, successors, assigns and employee benefit
plans, and in such capacities their respective past, present or future officers, directors, shareholders, employees, trustees, fiduciaries, administrators, agents or representatives (collectively, the “Releasees”) and by execution of this
General Release you irrevocably and unconditionally releases and forever discharges any such claims, except relating to any compensation, severance pay and benefits described due to you in Section 6 of the Employment Agreement. 
 You understand and agree that this General Release will extend to all claims, demands, liabilities and causes of action of every kind, nature and
description whatsoever, whether known, unknown or suspected to exist, which you ever had or may now have against the Releasees, including, without limitation, any claims, demands, liabilities and causes of action arising from your employment with
the Releasees and the termination of that employment, including any claims for severance or vacation pay, business expenses, and/or pursuant to any federal, state, county, or local employment laws, regulations, executive orders, or other
requirements, including, but not limited to, Title VII of the 1964 Civil Rights Act, the 1866 Civil Rights Act, the Age Discrimination in Employment Act as amended by the Older Workers Benefit Protection Act, the Americans with Disabilities Act, the
Civil Rights Act of 1991, the Workers Adjustment and Retraining Notification Act and any other local, state or federal fair employment laws, and any contract or tort claims. 
 It is further understood and agreed that you are waiving any right to initiate an action in state or federal court by you or on your behalf alleging
discrimination on the basis of race, sex, religion, national origin, age, disability, marital status, or any other protected status or involving any contract or tort claims based on your termination of employment from the Company that are released
hereby. It is also acknowledged that your termination is not in any way related to any work related injury. 
 The sole exceptions to this
General Release are: (i) retirement benefits accrued and vested prior to the effective date of your employment termination, (ii) documented, accrued and unpaid wages, benefits and expense reimbursement owing for the period through the
effective date of your employment termination, (iii) the accrued and unpaid welfare benefit claims incurred prior to your employment termination, (iv) the benefits specifically provided in Section 6 of the Employment Agreement,
(v) [List out contractual rights to any equity awards under any 

  

 20 

 
written equity agreements], (vi) any right to indemnification under applicable corporate law, the Employment Agreement, the by-laws or certification of
incorporation of the Company or any Releasee, or any agreement between you and the Company or any Releasee and (vii) any rights as an insured under any director’s and officer’s liability insurance policy. 
 This General Release is being made by you for yourself and on behalf of your heirs, executors, administrators, dependents, trustees, legal
representatives and assigns (collectively, the “Releasors”). 
 Based on executing this General Release, it is further understood
and agreed that you covenant not to sue to challenge the enforceability of this General Release. 
 The ability to receive compensation and
benefits under the terms of the Employment Agreement will remain open for a forty-five (45) (45 days if part of a layoff of two or more individuals) or twenty-one (21) (21 days if a single termination) day period after the
later of your termination of employment with the Company and the delivery of this General Release to give you an opportunity to consider the effect of this General Release. At your option, you may elect to execute this General Release on an earlier
date. Additionally, you have seven (7) days after the date you execute this General Release to revoke it. As a result, this General Release will not be effective until eight (8) days after you execute it. We also want to advise you of your
right to consult with legal counsel prior to executing a copy of this General Release. 
 Finally, this is to expressly acknowledge: 
  

	 	•	 	 You have received a list of the ages and job descriptions of the individuals who are eligible to receive severance payments conditioned upon the signing of a
similar General Release. (This bullet point only applies if the termination is part of a termination of layoff of a group. Otherwise the Company is not required to give a list of such ages and job descriptions.) 

 

	 	•	 	 You have been provided a period of at least [twenty-one (21) days/forty-five (45) days] within which to consider the terms of this General Release;

  

	 	•	 	 You have been advised by the Company to consult with an attorney of your choosing in connection with this General Release; 

  

	 	•	 	 You fully understand the significance of all of the terms and conditions of this General Release, and are signing this General Release voluntarily and of your own
free will and without reservation or duress and assent to all the terms and conditions contained herein; 

  

 21 

	 	•	 	 No promises or representations, written or oral, have been made to you by any person to induce you to sign this General Release other than the promise of payment
set forth in Section 6 of the Employment Agreement. 

 This General Release sets forth the entire understanding of the
parties and supersedes any and all prior agreements, oral or written, relating to the subject matters contained herein and is legally binding and enforceable. This General Release may not be modified except by a writing, signed by you and by a duly
authorized officer of the Company. 
 This General Release shall be governed and interpreted under federal law and the laws of the State of
New York. 
 I hereby state that I have carefully read this General Release and that I am signing this General Release knowingly and voluntarily with the
full intent of releasing the Releasees from any and all claims, except as set forth herein. Further, if signed prior to the completion of the forty-five (45) or twenty-one (21) day review period, this is to acknowledge that I knowingly
and voluntarily signed this General Release on an earlier date. 
  

					
	  	 		  	  
	 Date
	 		  	Name

  

 22

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