Real Dictionary

award
countable noun: A pay award is an increase in pay for a particular group of workers.
countable noun: An award is a prize or certificate that a person is given for doing something well.
countable noun: In law, an award is a sum of money that a court decides should be given to someone.
verb: If someone is awarded something such as a prize or an examination mark, it is given to them.
verb: To award something to someone means to decide that it will be given to that person.

award in American English
to give by the decision of a law court or arbitrator
noun: something awarded, as a payment or medal
transitive verb: to give as due or merited; assign or bestow

award in British English
to give (something due), esp as a reward for merit
noun: something awarded, such as a prize or medal