The Collaborative International Dictionary of English v.0.48:

Reward \Re*ward"\, n. [See Reward, v., and cf. Regard, n.]
   1. Regard; respect; consideration. [Obs.]
      [1913 Webster]

            Take reward of thine own value.       --Chaucer.
      [1913 Webster]

   2. That which is given in return for good or evil done or
      received; esp., that which is offered or given in return
      for some service or attainment, as for excellence in
      studies, for the return of something lost, etc.;
      recompense; requital.
      [1913 Webster]

            Thou returnest
            From flight, seditious angel, to receive
            Thy merited reward.                   --Milton.
      [1913 Webster]

            Rewards and punishments do always presuppose
            something willingly done well or ill. --Hooker.
      [1913 Webster]

   3. Hence, the fruit of one's labor or works.
      [1913 Webster]

            The dead know not anything, neither have they any
            more a reward.                        --Eccl. ix. 5.
      [1913 Webster]

   4. (Law) Compensation or remuneration for services; a sum of
      money paid or taken for doing, or forbearing to do, some
      act. --Burrill.
      [1913 Webster]

   Syn: Recompense; compensation; remuneration; pay; requital;
        retribution; punishment.
        [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Reward \Re*ward"\, v. t. [imp. & p. p. Rewarded; p. pr. & vb.
   n. Rewarding.] [OF. rewarder, another form of regarder, of
   German origin. The original sense is, to look at, regard,
   hence, to regard as worthy, give a reward to. See Ward,
   Regard.]
   To give in return, whether good or evil; -- commonly in a
   good sense; to requite; to recompense; to repay; to
   compensate.
   [1913 Webster]

         After the deed that is done, one doom shall reward,
         Mercy or no mercy as truth will accord.  --Piers
                                                  Plowman.
   [1913 Webster]

         Thou hast rewarded me good, whereas I have rewarded
         thee evil.                               --1 Sam. xxiv.
                                                  17.
   [1913 Webster]

         I will render vengeance to mine enemies, and will
         reward them that hate me.                --Deut. xxxii.
                                                  41.
   [1913 Webster]

         God rewards those that have made use of the single
         talent.                                  --Hammond.
   [1913 Webster]

WordNet (r) 3.0 (2006):

reward
    n 1: a recompense for worthy acts or retribution for wrongdoing;
         "the wages of sin is death"; "virtue is its own reward"
         [syn: wages, reward, payoff]
    2: payment made in return for a service rendered
    3: an act performed to strengthen approved behavior [syn:
       reward, reinforcement]
    4: the offer of money for helping to find a criminal or for
       returning lost property
    5: benefit resulting from some event or action; "it turned out
       to my advantage"; "reaping the rewards of generosity" [syn:
       advantage, reward] [ant: penalty]
    v 1: bestow honor or rewards upon; "Today we honor our
         soldiers"; "The scout was rewarded for courageous action"
         [syn: honor, honour, reward] [ant: attaint,
         disgrace, dishonor, dishonour, shame]
    2: strengthen and support with rewards; "Let's reinforce good
       behavior" [syn: reinforce, reward]
    3: act or give recompense in recognition of someone's behavior
       or actions [syn: reward, repay, pay back]