Source : Webster's Revised Unabridged Dictionary (1913)

Award \A*ward"\, v. i.
   To determine; to make an award.

Award \A*ward"\, n. [Cf. OF. award, awart, esgart. See {Award},
   v. t.]
   1. A judgment, sentence, or final decision. Specifically: The
      decision of arbitrators in a case submitted.``Impatient
      for the award.'' --Cowper.

            An award had been given against.      --Gilpin.

   2. The paper containing the decision of arbitrators; that
      which is warded. --Bouvier.

Award \A*ward"\, v. t. [imp. & p. p. {Awarded}; p. pr. & vb. n.
   {Awarding}.] [OF. eswarder to look at, consider, decide,
   judge; es (L. ex) + warder, garder, to observe, take heed,
   keep, fr. OHG. wart[=e]n to watch, guard. See {Ward}.]
   To give by sentence or judicial determination; to assign or
   apportion, after careful regard to the nature of the case; to
   adjudge; as, the arbitrators awarded damages to the
   complainant.

         To review The wrongful sentence, and award a new.
                                                  --Dryden.

Source : WordNet®

award
     n 1: a grant made by a law court; "he criticized the awarding of
          compensation by the court" [syn: {awarding}]
     2: a tangible symbol signifying approval or distinction; "an
        award for bravery" [syn: {accolade}, {honor}, {honour}, {laurels}]
     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" [syn: {prize}]
     v 1: give, especially as a reward; "bestow honors and prizes at
          graduation" [syn: {present}]
     2: give on the basis of merit; "Funds are granted to qualified
        researchers" [syn: {grant}]
     3: bestow an honor upon