CHICAGO - The parent company of United Airlines spent $5.7 million last year to buy out the remaining three years of a contract with its former chairman and chief executive officer. <br>
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The payment was in addition to the nearly $1.5 million in salary and bonus that James E. Goodwin got in 2001, according to UAL Corp.'s proxy filed with the Securities and Exchange Commission. <br>
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Goodwin also received $13,900 for financial advisory services, $14,280 for club memberships and $22,199 for auto benefits. <br>
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Goodwin resigned in October after telling employees in a letter that the company might "perish" unless it stopped financial losses following the Sept. 11 terrorist attacks. <br>
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For the full year, the Elk Grove Village, Ill.-based carrier reported a $2.1 billion loss. <br>
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Frank Larkin, a spokesman for United's machinists union, called Goodwin's buyout package outrageous. <br>
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"We have got thousands of people still out of work with their unemployment running out," Larkin said. <br>
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The airline laid off 20,000 of its approximately 100,000 employees after the attacks. <br>
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Goodwin's severance package includes $204,234 for accrued but unused vacation and $107,125 for life insurance premiums. UAL also awarded Goodwin options for 309,600 shares. <br>
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