The Collaborative International Dictionary of English v.0.48:

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.]
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            Laban and himself were compromised
            That all the eanlings which were streaked and pied
            Should fall as Jacob's hire.          --Shak.
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   2. To adjust and settle by mutual concessions; to compound.
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            The controversy may easily be compromised. --Fuller.
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   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.
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            To pardon all who had been compromised in the late
            disturbances.                         --Motley.
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The Collaborative International Dictionary of English v.0.48:

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.
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   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.
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            But basely yielded upon compromise
            That which his noble ancestors achieved with blows.
                                                  --Shak.
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            All government, indeed every human benefit and
            enjoyment, every virtue and every prudent act, is
            founded on compromise and barter.     --Burke.
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            An abhorrence of concession and compromise is a
            never failing characteristic of religious factions.
                                                  --Hallam.
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   3. A committal to something derogatory or objectionable; a
      prejudicial concession; a surrender; as, a compromise of
      character or right.
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            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.
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The Collaborative International Dictionary of English v.0.48:

Compromise \Com"pro*mise\, v. i.
   1. To agree; to accord. [Obs.]
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   2. To make concession for conciliation and peace.
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WordNet (r) 3.0 (2006):

compromise
    n 1: a middle way between two extremes [syn: compromise, 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'"
    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"

The Devil's Dictionary (1881-1906):

COMPROMISE, n.  Such an adjustment of conflicting interests as gives
each adversary the satisfaction of thinking he has got what he ought
not to have, and is deprived of nothing except what was justly his
due.