What is the meaning of award?

noun

• A grant made by a law court.
  • usage: "he criticized the awarding of compensation by the court"
  • synonyms: awarding
• A tangible symbol signifying approval or distinction.
  • usage: "an award for bravery"
  • synonyms: accolade, honor, honour, laurels
• Something given for victory or superiority in a contest or competition or for winning a lottery.
  • usage: "the prize was a free trip to Europe"
  • synonyms: prize

verb

• Give, especially as an honor or reward.
  • usage: "bestow honors and prizes at graduation"
  • synonyms: present
• Give as judged due or on the basis of merit.
  • usage: "the referee awarded a free kick to the team"; "the jury awarded a million dollars to the plaintiff";"Funds are granted to qualified researchers"
  • synonyms: grant