Generally the award and reward are similar words, but we can distinguise slightly between the two:
Award is something which is given to recognise your contribution by mass people.Generally this is social recognition which is given through this reward. For example the OSCAR award for the best movies, booker prize to the writer of the best book etc. It is recognition which has very social significance.
Reward is very personal recognition, which may or may not recognised(awareness) by the society. For example one employee has performed very well in the organisation, and he is rewarded with promotion. We are getting reward point for purchasing throgh credit card above some fixed amount.Cash incentives or kind incentives for achievement of some goal.
In short,if you are getting some prize which has social relevance (Physical may or may not be) is called award. where as reward is like cash prize, kind, gifts ets(Social relevance may or may not be).
I can say "I was awarded the first prize in the quize contest". In above sentence, your winning is something recognition among the other competitor as well as in your society. May be that you got a cash prize of some small amount with your token of certificate of winner.