Reaction of diimine ligands (Ph 2 CN) 2 C n H 2n (n ) 2, a; n ) 3, b) with FeCl 2 or FeBr 2 results in formation of the corresponding high-spin ferrous complexes {(Ph 2 CN) 2 C 2 H 4 }FeX 2 (1a, X ) Cl; 2a, X ) Br) and {(Ph 2 CN) 2 C 3 H 6 }FeCl 2 (1b). Dialkyl {(Ph 2 CN) 2 C 2 H 4 }Fe(CH 2 SiMe 3 ) 2 (3a) was prepared by treatment of (py) 2 Fe(CH 2 SiMe 3 ) 2 with diimine ligand a. Addition of B(C 6 F 5 ) 3 to 3a at -30 °C resulted in Me 3 SiCH 2 abstraction, affording [{(Ph 2 CN) 2 C 2 H 4 }Fe(CH 2 SiMe 3 )][Me 3 SiCH 2 B(C 6 F 5 ) 3 ] (5a). 19 F NMR spectroscopy revealed that this compound exists as a contact ion-pair in toluene solution. Compound 5a decomposes at room temperature in bromobenzene-d 5 or toluene-d 8 , affording dication [{(Ph 2 CN) 2 C 2 H 4 } 2 Fe] 2+ (6a); at elevated temperatures in toluene-d 8 the formation of [{(Ph 2 CN) 2 C 2 H 4 }Fe(CH 2 SiMe 3 )C 6 F 5 ] (7a) was observed as well. Neither ferrous chloride {(Ph 2 CN) 2 C 2 H 4 }FeCl 2 activated with methylaluminoxane nor contact ion-pair 5a is active in the polymerization of ethylene. Instead we were able, for the first time, to observe reversible ethylene binding to a cationic iron alkyl complex.