Source : Webster's Revised Unabridged Dictionary (1913)

Compromise \Com"pro*mise\, n. [F. compromis, fr. L. compromissum
   a mutual promise to abide by the decision of an arbiter, fr.
   compromittere to make such a promise; com- + promittere to
   promise. See {Promise}.]
   1. A mutual agreement to refer matters in dispute to the
      decision of arbitrators. [Obs.] --Burrill.

   2. A settlement by arbitration or by mutual consent reached
      by concession on both sides; a reciprocal abatement of
      extreme demands or rights, resulting in an agreement.

            But basely yielded upon compromise That which his
            noble ancestors achieved with blows.  --Shak.

            All government, indeed every human benefit and
            enjoyment, every virtue and every prudent act, is
            founded on compromise and barter.     --Burke.

            An abhorrence of concession and compromise is a
            never failing characteristic of religious factions.
                                                  --Hallam.

   3. A committal to something derogatory or objectionable; a
      prejudicial concession; a surrender; as, a compromise of
      character or right.

            I was determined not to accept any fine speeches, to
            the compromise of that sex the belonging to which
            was, after all, my strongest claim and title to
            them.                                 --Lamb.

Compromise \Com"pro*mise\, v. t. [imp. & p. p. {Compromised}; p.
   pr. & vb. n. {Compromising}.] [From {Compromise}, n.; cf.
   {Compromit}.]
   1. To bind by mutual agreement; to agree. [Obs.]

            Laban and himself were compromised That all the
            eanlings which were streaked and pied Should fall as
            Jacob's hire.                         --Shak.

   2. To adjust and settle by mutual concessions; to compound.

            The controversy may easily be compromised. --Fuller.

   3. To pledge by some act or declaration; to endanger the
      life, reputation, etc., of, by some act which can not be
      recalled; to expose to suspicion.

            To pardon all who had been compromised in the late
            disturbances.                         --Motley.

Compromise \Com"pro*mise\, v. i.
   1. To agree; to accord. [Obs.]

   2. To make concession for conciliation and peace.

Source : WordNet®

compromise
     n 1: a middle way between two extremes [syn: {via media}]
     2: an accommodation in which both sides make concessions; "the
        newly elected congressmen rejected a compromise because
        they considered it `business as usual'"

compromise
     v 1: make a compromise; arrive at a compromise; "nobody will get
          everything he wants; we all must compromise"
     2: settle by concession
     3: expose or make liable to danger, suspicion, or disrepute;
        "The nuclear secrets of the state were compromised by the
        spy"