PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF FEBRUARY 19, 2015 AMONG UNIVI SION COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO A ND WILMINGTON TRUST, NATIONAL ASSOCIATION

PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF MAY 21, 2013 AMONG UNIVISION COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO AND WILMINGTON T RUST, NATIONAL ASSOCIATION

PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF AUGUST 29, 2012 AMONG UNIVISI ON COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO A ND WILMINGTON TRUST, NATIONAL ASSOCIATION

PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF NOVEMBER 23, 2010 AMONG UNIVI SION COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO A ND WILMINGTON TRUST, NATIONAL ASSOCIATION, AS SUCCESSO R BY MERGER TO WILMINGTON TRUST FSB

PROVIDED PURSUANT TO SECTION 4.03(a)(iii) OF THE INDENTURE DATED AS OF OCTOBER 26, 2010 AMONG UNIVIS ION COMMUNICATIONS INC., THE GUARANTORS PARTY THERETO A ND WILMINGTON TRUST, NATIONAL ASSOCIATION, AS SUCCESSO R BY MERGER TO WILMINGTON TRUST FSB

Date of Event: May 5, 2015

UNIVISION COMMUNICATIONS INC.(Exact name of Company as specified in its charter)

Delaware(State or other jurisdiction of incorporation or organization)
95-4398884(IRS Employer Identification No.)
605 Third Avenue,New York,New York(Address of principal executive offices)
10158(Zip Code)
(212)455-5200(Company's telephone number,including area code)

Appointment of Chief Financial Officer

On May 7, 2015, Francisco J. Lopez-Balboa was named Chief Financial Officer of Univision Communication s Inc. (the “Company”), effective immediately. Mr. Lo pez-Balboa will be based in New York and report to Randel A. Falco, President and Chief Executive Officer of the Company (the “CEO”). Peter H. Lori, who has ser ved as Interim Chief Financial Officer since February, wil l continue as Executive Vice President Finance and Chief Accounting Officer, and has also been named Deputy Chief Financial Officer, reporting to Mr. Lopez-Bal boa.

Mr. Lopez-Balboa has broad experience as a global f inancial executive with specific strengths in the m edia industry. Most recently, Mr. Lopez-Balboa served as a Managing Director and Head of Telecom, Media and Technology Investment Grade Financing at Goldman, S achs & Co. (“Goldman Sachs”). While at Goldman Sachs, in addition to leading his group, Mr. Lopez- Balboa served on the Investment Banking Division’s Credit Markets Capital Committee. From 1991 until 1997, he ran Goldman Sachs’ debt capital markets efforts ac ross multiple industries in the Midwest and West Coast r egions including Industrial, Retail, Automotive and Telecom companies. Prior to joining Goldman Sachs i n 1991, he was a Director in the Capital Markets Gr oup at Merrill, Lynch & Co.

Mr. Lopez-Balboa graduated from Columbia University with a BA in Economics in 1982, received his MBA from Harvard Business School in 1986, and is fluent in Spanish. Additionally, he has served on various not-for- profit boards and currently is a member of the Boar d of Visitors at Columbia College in New York and i s also a trustee of St. Mark’s School in Southborough, Massa chusetts.

Mr. Lopez-Balboa entered into an employment agreeme nt with the Company, effective May 7, 2015 (the “Employment Agreement”), which provides for an init ial term until May 31, 2018, unless terminated earl ier in accordance with its terms, with automatic one-year extensions until May 31, 2020, unless either party provides six months’ notice that the term will not be extend ed. Pursuant to the Employment Agreement, Mr. Lope z- Balboa will receive an annual base salary, which is subject to annual review and may be increased but not decreased, except in the event of an across-the-boa rd proportionate reduction applicable to substantia lly all senior executives of the Company. Mr. Lopez-Balboa is also eligible for an annual bonus based on a per centage of his annual base salary. Mr. Lopez-Balboa’s annua l bonus will be subject to the satisfaction of indi vidual and Company performance goals as established by the CEO and the compensation committee of the Board. Pursuant to the Employment Agreement, Mr. Lopez-Bal boa is also eligible for consideration for equity g rants, including an initial grant of nonqualified stock op tions and restricted stock units, and to participat e in the Company’s benefit programs for senior executives