Yes, that's correct. Etherbase is the "target" account for where to put the reward from mining.
It's a miner setting:
--mine Enable mining
--minerthreads value Number of CPU threads to use for mining (default: 8)
--etherbase value Public address for block mining rewards (default = first account created) (default: "0")
--targetgaslimit value Target gas limit sets the artificial target gas floor for the blocks to mine (default: 4712388)
--gasprice "18000000000" Minimal gas price to accept for mining a transactions
--extradata value Block extra data set by the miner (default = client version)
You can specify it when running Geth like this:
geth --mine --etherbase 0xa4d8e9cae4d04b093aac82e6cd355b6b963fb7ff --gasprice "1000000000"
gasprice is the minimum price for executing transactions. It's a function of the load on the network.