The company won a multi-million-dollar 'contract' to build a new courthouse. = The company was awarded a multi-million-dollar 'contract' to build a new courthouse.
The company 'contracted out' its manufacturing jobs. [=the company paid another company to do its manufacturing jobs instead of doing them itself]
If he breaks the 'contract' [=if he does not abide by the agreement], he will get sued.
(..) - It's Karl. - Karl. Tell me, Karl, have you ever heard the term "involuntary servitude"? - No. - "Unconscionable contract"? - Nope. - Great. Here you go. Here you are. Mr. Soggybottom, (..)2003 Big Fish