The Collaborative International Dictionary of English v.0.48:

Merit \Mer"it\, v. t. [imp. & p. p. Merited; p. pr. & vb. n.
   Meriting.] [F. m['e]riter, L. meritare, v. intens. fr.
   merere. See Merit, n.]
   1. To earn by service or performance; to have a right to
      claim as reward; to deserve; sometimes, to deserve in a
      bad sense; as, to merit punishment. "This kindness merits
      thanks." --Shak.
      [1913 Webster]

   2. To reward. [R. & Obs.] --Chapman.
      [1913 Webster]