My company has annual work performance awards with typical names like "Excellent Employee/Team" (3~5 recipients) and "All-star Employee/Team" (1 recipient).
We're looking to create a smaller award program designed to be given on an as-needed basis for spotlighting individual acts of excellence, as opposed to the consistent excellence necessary to receive an annual award.
An example situation would be an employee who is pretty good all the time, but during a moment of crisis goes well above and beyond what is expected of him to get the job done. These sorts of singular events tend to get forgotten by late December, or are overruled by predominantly mediocre performance, but when viewed in isolation are clearly meritorious.
So we have this new program, but we're having a hell of a time naming the damn thing.
Complicating matters is that there's no fixed period for award allocation. There might be 2 in one month, then none of 5 months. It all depends on the work at hand.