What is the meaning of Award?

A judgment, sentence, or final decision. Specifically: The decision of arbitrators in a case submitted.

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

Funding that has been granted for the conduct of a research project.

A trophy or medal; something that denotes an accomplishment, especially in a competition. A prize or honor based on merit.

A negotiated set of employment conditions and minimum wages for a particular trade or industry; an industrial award.

To determine; to make or grant an award.

To give (an award).

To give (a person) an award.

To give by sentence or judicial determination; to assign or apportion, after careful regard to the nature of the case.

Source: wiktionary.org