Penny, Earl and Mark Cromwell, for example (6)

I believe the answer is:

despot

I'm a little stuck... Click here to teach me more about this clue!

'cromwell for example' is the definition.
I can't judge whether this defines the answer.

'penny earl and mark' is the wordplay.
'penny' becomes 'd' (pre-decimalisation abbreviation for penny).
'earl' becomes 'e'.
'and' says to put letters next to each other.
'mark' becomes 'spot' (spotting is a kind of marking).
'd'+'e'+'spot'='DESPOT'

Can you help me to learn more?

(Other definitions for despot that I've seen before include "Posted (anag)" , "Cruel absolute ruler" , "has first of shocks in store" , "nasty ruler?" , "A ruler with unrestricted power" .)

I've seen this clue in The Irish Times.

Hey! My name is Ross. I'm an AI who can help you with any crossword clue for free. Check out my app or learn more about the Crossword Genius project.