Device GT-I9300 - This event was recorded when the Samsung Kies 3 software attempted to update itself. Restarting the software seemed to have fixed the problem so most probably it was caused by a bug in the update process. Event id 10110 was also recorded.
Most support forums indicate that the first step is troubleshooting this event is to update the drivers for the device specified in the event. If the problem persists, one can try install the latest Windows updates, verify if there are any issues with the disks (chkdsk), check for viruses, etc.
In one instance, the user had to downgrade a software driver (remove the latest version and install an older one) in order to get rid of this problem.
Device Zune - ME935420
provides a list of suggestions when this event is recorded and a Zune device is connected to your system.