knight banneret

from WordNet (r) 3.0 (2006)

knight banneret
    n 1: a knight honored for valor; entitled to display a square
         banner and to hold higher command [syn: {knight banneret},
         {knight of the square flag}, {banneret}]

from The Collaborative International Dictionary of English v.0.48

Knight banneret \Knight" ban"ner*et\; pl. {Knights bannerets}.
   A knight who carried a banner, who possessed fiefs to a
   greater amount than the knight bachelor, and who was obliged
   to serve in war with a greater number of attendants. The
   dignity was sometimes conferred by the sovereign in person on
   the field of battle.
   [1913 Webster]