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premiate

American  
[pree-mee-eyt] / ˈpri miˌeɪt /

verb (used with object)

premiated, premiating
  1. to grant a prize or an award to.


Etymology

Origin of premiate

1530–40; < Medieval Latin praemiātus, past participle of praemiāre to reward ( Latin: stipulate for a reward). See premium, -ate 1