The Collaborative International Dictionary of English v.0.48:

Contemporary \Con*tem"po*ra*ry\, a. [Pref. con- + L. temporarius
   of belonging to time, tempus time. See Temporal, and cf.
   Contemporaneous.]
   1. Living, occuring, or existing, at the same time; done in,
      or belonging to, the same times; contemporaneous.
      [1913 Webster]

            This king [Henry VIII.] was contemporary with the
            greatest monarchs of Europe.          --Strype.
      [1913 Webster]

   2. Of the same age; coeval.
      [1913 Webster]

            A grove born with himself he sees,
            And loves his old contemporary trees. --Cowley.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Contemporary \Con*tem"po*ra*ry\, n.; pl. Contemporaries.
   1. One who lives at the same time with another; as, Petrarch
      and Chaucer were contemporaries.
      [1913 Webster]

   2. a person of nearly the same age as another.

   Syn: coeval.
        [WordNet 1.5]

WordNet (r) 3.0 (2006):

contemporary
    adj 1: characteristic of the present; "contemporary trends in
           design"; "the role of computers in modern-day medicine"
           [syn: contemporary, modern-day]
    2: belonging to the present time; "contemporary leaders" [syn:
       contemporary, present-day(a)]
    3: occurring in the same period of time; "a rise in interest
       rates is often contemporaneous with an increase in
       inflation"; "the composer Salieri was contemporary with
       Mozart" [syn: contemporaneous, contemporary]
    n 1: a person of nearly the same age as another [syn:
         contemporary, coeval]