award in WordNet English dictionary

1. a tangible symbol signifying approval or distinction
   "an award for bravery"
   award  accolade  honor  honour  laurels 
   
2. a grant made by a law court
   "he criticized the awarding of compensation by the court"
   award  awarding 
   
3. something given for victory or superiority in a contest or competition or for winning a lottery
   "the prize was a free trip to Europe"
   prize  award 
   

1. give, especially as an honor or reward
   "bestow honors and prizes at graduation"
   award  present 
   
2. give as judged due or on the basis of merit
   "the referee awarded a free kick to the team"; "the jury awarded a million dollars to the plaintiff";"Funds are granted to qualified researchers"
   award  grant