The Ice Cube Impact Award will go to people working to improve their communities via roundball.
The athlete and musician previously played for the Portland Trail Blazers.
The basketball star nailed every lyric.
The team has also launched a Black Music Month Award, naming rapper Dej Loaf as the inaugural winner.
His curated soundtrack will live exclusively in-game from Friday to Monday before arriving on DSPs next week, along with Jay Millian's new single "Baby."
In the statement, the two parties call E-40's ejection from the Kings & Warriors April 15 game "an unfortunate misunderstanding."
