noun

• (dated) Company, companions; a group of people or things following another.
  "[…]But then the mind much ſufferance doth or'e ſcip, When griefe hath mates,and bearing fellowſhip : How light and portable my paine ſeemes now, When that which makes me bend, makes the King bow, He childed as I fathered,Tom away, Marke the high noyſes and thy ſelfe bewray,[…]"
• (education) A merit-based scholarship.
  "There is a significant investment in scholarships and fellowships and traineeships, so that we are also making sure that we’re investing in domestic work force."
• (education) A temporary position at an academic institution with limited teaching duties and ample time for research.
• (medicine) A period of supervised, sub-specialty medical training in the United States and Canada that a physician may undertake after completing a specialty training program or residency.

verb

• (transitive) To admit to fellowship, enter into fellowship with; to make feel welcome by showing friendship or building a cordial relationship. Now only in religious use.
  "The Bishop's family fellowshipped the new converts."
• (intransitive, now chiefly religious, especially in Canada, US) To join in fellowship; to associate with.
  "The megachurch he attends is too big for making personal connections, so he also fellowships weekly in one of the church's small groups."