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to give as due or merited; assign or bestow:
to award prizes.
to bestow by judicial decree; assign or appoint by deliberate judgment, as in arbitration:
The plaintiff was awarded damages of $100,000.
something awarded, as a payment or medal.
Law.

a decision after consideration; a judicial sentence.
the decision of arbitrators on a matter submitted to them.

Contemporary Examples

More to the point, Mr. Robinson, is whether Griffith would get the award today.
Hollywood’s Attack on the Jews Richard Cohen November 1, 2010

His idea of a good photograph book was him receiving this award or that award.
When Jackie Met Jacko William Kuhn December 3, 2010

Beijing’s reaction to the award announcement in October was swift as it was harsh.
Liu Xiaobo: Nobel Peace Prize Widens China Conflict Gordon G. Chang December 8, 2010

Lindsey Stirling, a violinist, won an award for a remix of a Psy song she performed with an a capella group.
The YouTube Music Awards Were Alarmingly Strange and Epically Cool Kevin Fallon November 3, 2013

Is it really a snub when Julia Louis-Dreyfus is the one winning the award?
The Biggest Emmys Snubs and Surprises: ‘Modern Family,’ McConaughey, and More Kevin Fallon August 25, 2014

Historical Examples

We shall not award a prize to and print a poor story, even if it chance to be the best received by us in this competition.
Harper’s Round Table, October 1, 1895 Various

The reader, however, cannot fail to award justice to the wrong-doers.
The Works of Whittier, Volume VII (of VII) John Greenleaf Whittier

In this way alone can we form a right judgment of his powers, and award him his due place in art.
Rambles of an Archaeologist Among Old Books and in Old Places Frederick William Fairholt

Here, at the sixth award, let us make an end; all that remains is to set the crown on our discourse.
Philebus Plato

It is, however, not at all certain that the rule laid down in this award will find general recognition in theory and practice.
International Law. A Treatise. Volume II (of 2) Lassa Francis Oppenheim

verb (transitive)
to give (something due), esp as a reward for merit: to award prizes
(law) to declare to be entitled, as by decision of a court of law or an arbitrator
noun
something awarded, such as a prize or medal: an award for bravery
(in Australia and New Zealand) the amount of an award wage (esp in the phrase above award)
(law)

the decision of an arbitrator
a grant made by a court of law, esp of damages in a civil action

v.

late 14c., “decide after careful observation,” from Anglo-French awarder, from Old North French eswarder (Old French esguarder) “decide, examine” (after careful consideration), from es- “out” + guarder “to watch” (see guard (n.)). Related: Awarded; awarding.
n.

late 14c., “decision after consideration,” from Anglo-French award, Old French esguard, from esguarder (see award (v.)). Meaning “something awarded” is first attested 1590s.