What is a compensator?

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My neighbor came up to me the other day and told me he was riding his bike when it suddenly stopped. He got it home and realized his compensator just failed and jammed into other parts of the engine. I was totally shocked. It seems like a big job. I was hoping someone here could explain what is a compensator? What does it look like? How does it function? Has anyone had it happen to them before? Thankfully his bike is still under warrantee, so he doesn’t have to pay anything to get it fixed.
The compensator is not actually located inside the engine. It is on the output shaft and it’s a complex ramp like device that is designed to minimize sharp engine pulses from entering the drive train. Usually the biggest problem associated with compensators is the fastening nut coming off or loose. When this happens, major problems can emerge in the primary case area, but never in the engine. That's what my experience has been.
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