Friend given Frenchman's award (4)
I believe the answer is:
palm
'award' is the definition.
(palm is a kind of award)
'friend given frenchman's' is the wordplay.
'friend' becomes 'pal' (pal is a kind of friend).
'given' is a charade indicator (letters next to each other).
'frenchman' becomes 'm' (abbreviation for Monsieur - like 'Mr').
'pal'+'m'='PALM'
(Other definitions for palm that I've seen before include "that's inspected by a fortune-teller" , "Underside of hand" , "Secretly snatch" , "Coconut-bearing tree" , "Conceal magician" .)