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English definition of “award”

award

noun [C]
 
 
/əˈwɔːd/
a prize or a sum of money that a person or organization is given for an achievement: A new digital innovation award is aimed at media that uses the latest technology to make an improvement in delivery of news services.an award for sth A recently launched advertising agency got an award for best marketing campaign of 2009. Four finalists shared the top cash award of $160,000.accept/receive/win an award The airline received an environmental award for work relating to carbon-emissions reduction.give/make/present an award We have no hesitation in giving an award to this interesting example of large-scale urban regeneration.
LAW a sum of money that a court of law decides is owed by a company, organization, or person to someone they have treated unfairly, injured in an accident, etc.: Justice Andrew Reid confirmed that the award would total $15.5m.an award of sth The jury made an award of £380,000 in damages.make/uphold/grant an award An award for continuing cost of care for survivors of the crash was upheld by the Court of Appeal.compensation/compensatory/damage(s) award The rail company challenged the compensation payout, claiming that the damages award was excessive.
HR, MANAGEMENT an amount of money paid by a company to an employee as an increase in income or as a special payment for success: an award for sth Awards for all 600 executives have been ruled out as the group struggles to recover from a catastrophic 12-month period. As head of the bank's US credit business, she got an award of £2.18m.
a sum of money, work, etc. that is officially given to a company or organization: Including the Port Authority's $3 million award, the company got a total of $3.93 million in grants.
HR →  award wage
(Definition of award noun from the Cambridge Business English Dictionary © Cambridge University Press)
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