Decoration, award (5)
I believe the answer is:
medal
I believe this is a double definition.
'decoration' is the first definition.
(I know that decoration can be written as medal)
'award' is the second definition.
(I know that award can be written as medal)
(Other definitions for medal that I've seen before include "What an Olympic Games winner gets" , "Decoration for a soldier perhaps" , "Piece of metal as award or in commemoration" , "Award for bravery etc" , "Religious or commemorative award" .)