You searched for: “award
award, award, reward
award (uh WARD) (noun)
Something that is bestowed or granted, as for merit: The school gave an award of a scholarship to the student with the highest grades.
award (uh WARD) (verb)
To make a decision or to make a choice; such as, one made by a judge or an arbitrator: The judge will award $500 to the plaintiff.
reward (ri WARD) (noun)
1. Something given or received in recompense for worthy behavior; a token of appreciation: A large reward was offered for the return of the necklace.
2. Retribution for evil acts; receiving what someone deserves: Eventually, the evildoer will get his just reward.
3. Money offered or given for the capture of a criminal: Desmond received a monetary reward for providing information that led to the apprehension of the bank robber.

During the awards ceremony, the president stated, "It gives me great pleasure to reward Elvin's valiant behavior with this award; actually it is a double award including this medal and a scholarship."