The Collaborative International Dictionary of English v.0.48:

Award \A*ward"\, v. t. [imp. & p. p. Awarded; p. pr. & vb. n.
   Awarding.] [OF. eswarder to look at, consider, decide,
   judge; es (L. ex) + warder, garder, to observe, take heed,
   keep, fr. OHG. wart[=e]n to watch, guard. See Ward.]
   To give by sentence or judicial determination; to assign or
   apportion, after careful regard to the nature of the case; to
   adjudge; as, the arbitrators awarded damages to the
   complainant.
   [1913 Webster]

         To review
         The wrongful sentence, and award a new.  --Dryden.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Award \A*ward"\, v. i.
   To determine; to make an award.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Award \A*ward"\, n. [Cf. OF. award, awart, esgart. See Award,
   v. t.]
   1. A judgment, sentence, or final decision. Specifically: The
      decision of arbitrators in a case submitted."Impatient for
      the award." --Cowper.
      [1913 Webster]

            An award had been given against.      --Gilpin.
      [1913 Webster]

   2. The paper containing the decision of arbitrators; that
      which is warded. --Bouvier.
      [1913 Webster]

WordNet (r) 3.0 (2006):

award
    n 1: a grant made by a law court; "he criticized the awarding of
         compensation by the court" [syn: award, awarding]
    2: a tangible symbol signifying approval or distinction; "an
       award for bravery" [syn: award, accolade, honor,
       honour, laurels]
    3: something given for victory or superiority in a contest or
       competition or for winning a lottery; "the prize was a free
       trip to Europe" [syn: prize, award]
    v 1: give, especially as an honor or reward; "bestow honors and
         prizes at graduation" [syn: award, present]
    2: give as judged due or on the basis of merit; "the referee
       awarded a free kick to the team"; "the jury awarded a million
       dollars to the plaintiff";"Funds are granted to qualified
       researchers" [syn: award, grant]

Moby Thesaurus II by Grady Ward, 1.0:

133 Moby Thesaurus words for "award":
   Academy Award, Christmas present, Nobel Prize, Oscar, accolade,
   accommodation, accord, accordance, action, administer, afford,
   allocate, allot, allow, apportion, assign, awarding, badge, bays,
   bestow, bestow on, bestowal, bestowment, birthday present,
   booby prize, box, cadeau, communicate, communication, concede,
   concession, condemnation, confer, conferment, conferral,
   consideration, consolation prize, contribution, deal, deal out,
   decision, decoration, decree, deliverance, delivery, determination,
   diagnosis, dictum, dish out, dispense, distinction, dole, dole out,
   donate, donation, doom, dower, endow, endow with, endowment, endue,
   extend, fairing, finding, first prize, fork out, furnish,
   furnishment, gift, gift with, gifting, give, give freely, give out,
   giving, grant, granting, hand out, handsel, heap, help to, impart,
   impartation, impartment, investiture, issue, jackpot, kudos,
   laurels, lavish, let have, liberality, mete, mete out, oblation,
   offer, offering, order, peace offering, pour, precedent, present,
   presentation, presentment, prize, proffer, prognosis,
   pronouncement, provision, rain, render, resolution, reward, ruling,
   second prize, sentence, serve, shell out, shower, slip, snow,
   subscription, supplying, surrender, sweepstakes, tender, tribute,
   trophy, verdict, vouchsafe, vouchsafement, white elephant, yield