"award" in the noun sense
1. award, awarding
a grant made by a law court
"he criticized the awarding of compensation by the court"
2. award, accolade, honor, honour, laurels
a tangible symbol signifying approval or distinction
"an award for bravery"
3. prize, award
something given for victory or superiority in a contest or competition or for winning a lottery
"the prize was a free trip to Europe"
"award" in the verb sense
1. award, present
give, especially as an honor or reward
"bestow honors and prizes at graduation"
2. award, grant
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"
Source: WordNet® (An amazing lexical database of English)
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