outstanding performance award; MVP award
General term for an award given for exceptional achievement, often in sports or competitions.
He received the outstanding performance award for that match.
Outstanding Performance Award (sumo)
One of the three special prizes in professional sumo, awarded for notable performance in a tournament.
See also: 三賞
This tournament's Outstanding Performance Award was given to the rank-and-file wrestler who defeated the yokozuna.
Distinguished Service Medal
Used for military decorations such as the US or UK Distinguished Service Medal; not a general term.
The Distinguished Service Medal is awarded for outstanding achievement in military service.
殊勲 (outstanding merit) + 賞 (prize). The term is a straightforward compound used in various award contexts.