Source : Webster's Revised Unabridged Dictionary (1913)

Recoup \Re*coup"\, Recoupe \Re*coupe"\ (-k??p"), v. t. [F.
   recouper; pref. re- re- + couper to cut.]
   1. (Law) To keep back rightfully (a part), as if by cutting
      off, so as to diminish a sum due; to take off (a part)
      from damages; to deduct; as, where a landlord recouped the
      rent of premises from damages awarded to the plaintiff for
      eviction.

   2. To get an equivalent or compensation for; as, to recoup
      money lost at the gaming table; to recoup one's losses in
      the share market.

   3. To reimburse; to indemnify; -- often used reflexively and
      in the passive.

            Elizabeth had lost her venture; but if she was bold,
            she might recoup herself at Philip's cost. --Froude.

            Industry is sometimes recouped for a small price by
            extensive custom.                     --Duke of
                                                  Argyll.

Source : WordNet®

recoup
     v 1: reimburse or compensate (someone), as for a loss [syn: {reimburse}]
     2: regain or make up for; "recuperate one's losses" [syn: {recover},
         {recuperate}]
     3: retain and refrain from disbursing; of payments; "My
        employer is withholding taxes" [syn: {withhold}, {deduct}]