Award for last month’s speech (10)
I believe the answer is:
decoration
'award' is the definition.
(decoration is a kind of award)
'last month's speech' is the wordplay.
'last month' becomes 'dec' (short for December, last month of the year).
'speech' becomes 'oration' (oration is a kind of speech).
'dec'+'oration'='DECORATION'
'for' acts as a link.
(Other definitions for decoration that I've seen before include "Bunting (in honour of a brave man?)" , "Ornaments - medal" , "Adornment - medal" , "Star" , "Medal; ornament" .)