Don't confuse 侯 (hóu, marquis) with 候 (hòu, to wait) — 候 has an extra vertical stroke. Remember: the marquis (侯) doesn't wait (候).
history
侯 was the second-highest noble rank in ancient China's five-tier peerage system: 公侯伯子男 (duke, marquis, earl, viscount, baron). The idiom 封侯拜相 means to achieve the highest honors.