Half-decent speech award (10)
I believe the answer is:
decoration
'award' is the definition.
(I've seen this before)
'half-decent speech' is the wordplay.
'half' indicates taking half.
'speech' becomes 'oration' (oration is a kind of speech).
'decent' with half the letters taken is 'dec'.
'dec'+'oration'='DECORATION'
(Other definitions for decoration that I've seen before include "Flags put out" , "Bunting (in honour of a brave man?)" , "award" , "Medal; ornament" , "New Year's honour, say" .)