Account association is the process where accounts on different Stack Exchange sites are linked. Note that this is different from merging accounts.
It is possible to associate accounts on different Stack Exchange sites. This is also called "linking" accounts.
When accounts are associated, as soon as the user reaches 200 or more points on one of them, the associated accounts will get a bonus of +100 points. This is called the "association bonus". The user is assumed to have a basic understanding of how Stack Exchange works and is no longer held to new user restrictions on any of the linked sites (see What is reputation? in the Help Center for details).
Associating accounts is different from merging accounts. When accounts are merged, two or more accounts on the same Stack Exchange site are merged into one. When accounts are associated, two or more accounts on different Stack Exchange sites remain separate, but belong to the same group.