The Collaborative International Dictionary of English v.0.48:

Prebendary \Preb"en*da*ry\ (pr[e^]b"[e^]n*d[asl]*r[y^]), n. [LL.
   praebendarius: cf. F. pr['e]bendaire. See Prebend.]
   1. A clergyman attached to a collegiate or cathedral church
      who enjoys a prebend in consideration of his officiating
      at stated times in the church. See Note under
      Benefice, n., 3. --Hook.
      [1913 Webster]

   2. A prebendaryship. [Obs.] --Bailey.
      [1913 Webster]

WordNet (r) 3.0 (2006):

prebendary
    n 1: a canon who receives a prebend for serving the church