'awardable' originates from Modern English, specifically the verb 'award' plus the suffix '-able', where 'award' meant 'to confer (a prize)' and '-able' meant 'capable of'.

'award' changed from Middle English 'awarden' (to consider, decree) and related Old French forms and eventually became the modern English verb 'award'; the suffix '-able' comes via Old French from Latin 'abilis'.

Initially, 'award' included senses of 'decide' or 'assign by judgment'; over time it narrowed to 'grant (a prize)', and with the productive suffix '-able' the compound came to mean 'capable of being awarded'.