CHRYSLER PAY PACT TO SAVE $203 MILLION
UAW and Chrysler reach tentative agreement on 3-year contract that would save company estimated $203 million in next 2 years compared with provisions of other contracts in industry; Chrysler chmn Lee Iacocca says Fraser will be nominated for election to company's board of directors; it is believed to be first time that union leader has been invited to serve on board of major US company; Fraser illus (M)