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English definition of “compensation”

compensation

noun [U] (MONEY)    /ˌkɒm.penˈseɪ.ʃən/ US  /ˌkɑːm-/
money that is paid to someone in exchange for something that has been lost or damaged or for some problem : She received £40,000 in compensation for a lost eye . You should claim / seek compensation. a compensation claim Costs and expenses compensatory     /ˌkɒm.pənˈseɪt.əri/ US  /kəmˈpen.səˌtɔːri/ adjective mainly US He was awarded $3 million in compensatory damages .Court cases, orders and decisions
(Definition of compensation noun (MONEY) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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