1.verbTo do (something good) after (something bad) happens
2.verbTo pay or reward someone in exchange for work done or some other consideration.
"It is hard work, but they will compensate you well for it."
3.verbTo make up for; to do something in place of something else; to correct, satisfy; to reach an agreement such that the scales are literally or (metaphorically) balanced; to equalize or make even.
"His loud voice cannot compensate for a lack of personality."
4.verbTo adjust or adapt to a change, often a harm or deprivation.
"I don't like driving that old car because it always steers a little to the left so I'm forever compensating for that when I drive it. Trust me, it gets annoying real fast."