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What a difference a year makes. This time last year, Charles Kalil was in the number 12 spot on our annual list of the highest-paid Fortune 500 general counsel. In last year’s report, the GC of The Dow Chemical Company enjoyed a hefty $1.8 million bonus and earned $2.67 million in total cash compensation. But Kalil needed fewer wheelbarrows to cart his money to the bank in 2011. His earnings took a nosedive to $1.56 million, the direct result of a precipitous $1 million drop in his bonus.

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