Ward

A ward is a beneficial spell cast on a party or raid member that will absorb a predetermined amount of damage within a certain time frame. If more damage is dealt than can be absorbed, the spell effect is removed and damage will continue onto the character. This ward is said to be "broken". If time expires, the remaining ammount of damage on the ward will be converted into a heal for the character. Regenerating wards are not removed when they are "broken" but will not absorb any further damage until they regenerate.

From EverQuest 2 Wiki, a Wikia wiki.