awarda·ward1 /əˈwɔːd-ɔːrd/ noun [countableC]1an amount of money that is given to someone as a result of an official decision or judgmentthe basic award for unfair dismissal
The nurses’ pay award (=increase in pay) was not nearly as much as they had expected.
2something such as a prize or an amount of money given to a person or company to reward them for something they have done85% of the company’s product is sold overseas, a feat which won it the Queen’s Award for Export.