"honored" in the verb sense
1. honor, honour, reward
bestow honor or rewards upon
"Today we honor our soldiers"
"The scout was rewarded for courageous action"
2. respect, honor, honour, abide by, observe
show respect towards
"honor your parents!"
3. honor, honour
accept as pay
"we honor checks and drafts"
"honored" in the adjective sense
1. esteemed, honored, prestigious
having an illustrious reputation respected
"our esteemed leader"
"a prestigious author"
Source: WordNet® (An amazing lexical database of English)
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