honorarium

/ˌɒnəˈreəriəm/ noun [C] (plural honorariums, honoraria) formal

Definition

› a sum of money paid to someone for providing a service or winning a prize: The board will meet three times a year and members will be paid a $3,500 honorarium per meeting, plus expenses. The O'Donnell Award for science consists of a $25,000 honorarium and an inscribed statue.

(Definition of honorarium noun from the Cambridge Business English Dictionary © Cambridge University Press)

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