A dinucleating macrocyclic ligand with two redox-active, pyridyldiimine components was shown to undergo reversible ligand folding to accommodate various substitution patterns, metal ion spin states, and degrees of Fe-Fe bonding within the cluster. An unfolded-ligand geometry with a rectangular Fe-2(mu-Cl)(2) core and an Fe-Fe distance of 3.3262(5) angstrom served as a direct precursor to two different folded-ligand complexes. Chemical reduction in the presence of PPh3 resulted in a diamagnetic, folded ligand complex with an Fe-Fe bonding interaction (d(Fe-Fe) = 2.7096(17) angstrom) between two intermediate spin (S-Fe = 1) Fe(II) centers. Ligand folding was also induced through anion exchange on the unfolded-ligand species, producing a complex with three PhS-ligands and a temperature-dependent Fe-Fe distance. In this latter example, the weak ligand field of the thiolate ligands led to a product with weakly coupled, high-spin Fe(II) ions (S-Fe = 2; J = -50.1 cm(-1)) that form a bonding interaction in the ground state and a nonbonding interaction in the excited state(s), as determined by SQUID magnetometry and variable temperature crystallography. Finally, both folded-ligand complexes were shown to reform an unfolded-ligand geometry through convergent syntheses of a complex with an Fe-Fe bonded Fe-2(mu-SPh)(2) core (d(Fe-Fe) = 2.7320(11) angstrom). Experimentally validated DFT calculations were used to investigate the electronic structures of all species as a way to understand the origin of Fe-Fe bonding interactions, the extent of ligand reduction, and the nature of the spin systems that result from multiple, weakly interacting spin centers.