Intel cut chief executive’s bonus by 34% in 2006

Intel Corp. Chief Executive Paul Otellini had his bonus cut by 34% last year as the computer chip maker’s profit and share price dropped.

Otellini’s bonus fell to $1.8 million in 2006, contributing to a 20% decline in his overall compensation of $9.8 million. His base salary was raised to $700,000 from $608,300 a year earlier, the Santa Clara, Calif.-based company said.

* Beckman Coulter Inc. Chief Executive Scott Garrett received $4.34 million in total compensation last year. Garrett’s pay included $730,000 in salary and $1.83 million in option awards, the Fullerton company said. He also received $785,864 in stock awards and a nonstock bonus of $655,000.