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What does compensate mean?

Looking for the meaning or definition of the word compensate? Here's what it means.

Verb
  1. To do (something good) after (something bad) happens
  2. To pay or reward someone in exchange for work done or some other consideration.
  3. (transitive) To 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.
  4. To adjust or adapt to a change, often a harm or deprivation.
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Examples
If the issuer has a bad credit rating, bond traders demand higher yields to compensate for the extra risk.
Many post-secondary institutions have been forced to increase tuition fees to compensate for lower provincial support.
Nor do they have to ante up fresh funds to compensate for the loss for five years.
Tedious glossy magazine inserts to lure advertisers with inflated readership claims don't compensate for the lack of news in a newspaper.
Mr. Livesey has also asked Munchies to compensate him for lost wages because he took a day of sick leave due to his sudden illness.
Differential blowing could also improve control of trailers in crosswinds by helping compensate for the wind direction.

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