AP

The Black & Decker Corp.’s longtime chief executive saw his 2008 compensation dip by nearly 4 percent in 2008, as the toolmaker’s full-year profit dropped by nearly half, according to a regulatory disclosure Monday.

Nolan D. Archibald took home a total compensation package valued at nearly $12.1 million, according to an analysis by The Associated Press. That compares with total compensation of $12.5 million in 2007.

Archibald, who is also the Towson-based company’s president and chairman, saw his base salary hold steady at $1.5 million, while his performance-based cash bonus grew 39 percent to nearly $1.9 million, up from about $1.4 million in 2007.

The 65-year-old, who took the helm of the company in 1986, didn’t receive a bonus in 2008, which amounted to $400,000 the year before. He also took home stock and option awards valued at $8 million when they were awarded, about 7 percent less than in the year before. However, much of those awards came with an exercise prices of $68.04, which is nearly triple the stock’s current price. That means the awards are currently of little value absent a substantial rebound in stock price.

Archibald’s other compensation amounted to $647,881. That included perks like personal use of the company’s aircraft, valued at $328,415, and personal use of a company car at a cost of $78,929. Other benefits included $90,600 in supplemental retirement savings and $69,097 in tax reimbursement payments.