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A man walks by an RBC sign in Toronto's financial district on Nov. 24, 2016. (Mark Blinch for The Globe and Mail)

A man walks by an RBC sign in Toronto's financial district on Nov. 24, 2016.

(Mark Blinch for The Globe and Mail)

How director compensation is changing at five Canadian companies Add to ...

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Canadian National Railway: Flat fee changeover

CN Rail adopted a new all-inclusive retainer in 2015, paying directors $35,000 (U.S.) a year in cash and $200,000 in share grants, but no longer paying meeting attendance fees. Under the new system, total pay averaged $378,363* (Canadian) a director in 2015, up 22 per cent from $311,303 in 2014. (CN pays directors in U.S. dollars but reports compensation in Canadian dollars, and said pay rose 6.5 per cent in constant U.S. dollars.) CN said retainers were raised “given that they now apply regardless of the number of meetings attended by the directors”

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