Sun's Java Plug-in Updater – JUSCHED.EXE
Jusched.exe installs with the Java Plug-in by Sun Microsystems. This plug-in is needed to run Java Applets if you use Microsoft Internet Explorer 6.0 or later because Microsoft no longer includes it's Java Virtual Machine.
Jusched.exe is the scheduler process of Java Update; Jucheck.exe is the process for checking/performing updates in Java Update. These processes run automatically and transparently. They will appear in your active task list. To shutdown these processes, simply uncheck the "Check for Updates Automatically" checkbox in the Update tab of Java Plug-in Control Panel.
You'll find Sun's available FAQs that cover all of Sun's J2, J2SE, J2EE and J2ME components at http://java.sun.com/reference/faqs/index.html.
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Sun Microsystems