Greenwald Promised $9 million: Gerald Greenwald, who...

Greenwald Promised $9 million: Gerald Greenwald, who left his job as vice chairman of Chrysler Corp. last week to lead the $4.4-billion employee buyout of UAL Corp., will receive at least $9 million in compensation even if it fails, a source close to the deal said. Greenwald, a highly regarded auto industry executive who had been expected to succeed Chrysler Chairman Lee A. Iacocca, said he would serve as chief executive of United Employee Acquisition Corp. prior to completion of the deal for the parent of United Airlines. If the buyout goes through, Greenwald will become UAL chairman and chief executive. The source, who requested anonymity, said Greenwald has already been paid $5 million as a signing bonus. If the deal falls through, he will receive another $4 million, the source said.