RAY WATSON & THE IRVINE COMPANY DATE POSITION 9/6/60 Architect Planner Stan Ott hired me. He was the first manager if planning for TIC having been hired in early 1960. I first met Stan in June, 1983 shortly before receiving my MA- Architecture form UCB. Upon the recommendation of the Dean of the Graduate School of Planning he offered me a summer job planning a Civic Center for Stockton, CA.. Stan was the planning director of that city. In the Spring of 1960, I was working in San Francisco, he contacted me. Told me of the plans of TIC to plan and build a new town and asked me to become his assistant and join the Company. At the time I was managing an Architectural firm in San Francisco and Elsa and I had just moved into our new home in Sunnyvale, CA.. But the opportunity of participating in such an ambitious venture was so attractive in my young career that we sold our new (9 months old) home and I joined him on Sept. 9th. The day after I arrived he informed me he had been asked for his resignation. Although my title remained Architect Planner I soon assumed the responsibilities of manager of planning. 1/1/63 Manager, Planning Although I had been performing that function for most of my time at the Company I was official given the title. 12/64 Vise President, Planning Charles Thomas, President of TIC, gave me that title to “recognize the important contributions I was making for the Company.” Pay $25,000/year. Third raise in one year. I was told I had received the largest raise ($7,000) in the history of the Company. There were three other VP’s, Real Estate, Engineering and Agriculture. 7/66 Vise President, Land Development Division Charles Thomas retired the previous month and Bill Mason was named President. A year earlier the Company had been divided into two divisions, Agriculture and Land Development. Bill had been VP of Engineering and in 1965 was made VP of the new division. That division included Real Estate, Planning and Engineering. Bill named me to replace him as head of that division. 1/1/68 Sr. Vise President, land Development Division Same job but became Sr. VP because each of the three department heads that reported to me became VP’s. 8/1/70 Executive Vice President Same job but per the by-laws I now became the number two executive and joined the Board of Directors. 7/73 Acting CEO Bill Mason suddenly dies from a heart attack. Per the Corp. by-laws I automatically become acting CEO. 9/12/73 President and CEO Board officially appoints me President. 7/22/77 I resign. Company had been sold to the Taubman/Bren group and though they asked me stay on as President I decided to move on. Formed a development company with former TIC executives Tom Wolf and Lanny Eberling. 2/83 Vice Chairman, The Walt Disney Company I had been on the Board since early in 1974. Card Walker, chairman and CEO retired. Ron Miller, President and COO was named CEO to replace Walker. 5/83 Chairman, The Walt Disney Company Card Walker stayed on as Chairman (not CEO) until the opening of Tokyo Disneyland. After that I became Chairman with Ron Miller as President and CEO. 6/83 Rejoined the Board of The Irvine Company Donald Bren had bought out his partners in the Company in Feb, 1983 and asked me to rejoin the Board as an outside director. 9/84 Resign as Chairman of The Walt Disney Company After a summer of battling off two attempted take-overs of the Disney Company we asked for the resignation of Ron Miller and sought new leadership. I coordinated the search. In September Michael Eisner was named Chairman and CEO. Frank Wells was named President and COO. I left active management but remained as Chairman of the Executive Committee. 9/9/86 Vice Chairman, The Irvine Company Don Bren asked me to rejoin the Company as Vice Chairman. I remain in that role, however at my request since 1996 I have had no active management responsibilities. .