An analysis of the structure and interpretation of Spanish adverbs ending in "-mente" focuses on the grammatical status of the constituent elements of those words. It begins by looking at the grammatical properties of "-mente" adverbs (MAs), the word-level properties of MA constituents, and the compound types and their interpretation. It is argued that both the adjective and "-mente" are word-level morphemes rather than stem+affix, implying that MAs are compounds and raising the question of how MAs conform to compound typology, which is characterized relative to the interpretation of the compound. The types of compounds discussed by one researcher are summarized, and it is proposed that the interpretation of MAs is based on the thematic relationship between the base adjective and its external (or subject) argument, satisfied by the nominal "-mente." (MSE)