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.
(..) Good luck, Gene. -Take care. -Like I said, go east. H.W. I'll be your lawyer if you need to draw up a contract. Make sure you don't get swindled, boy. Get half what your dad's making. How's that? What are those men doing? They're just guys (..)2007 There Will Be Blood
(..) by rights, come to you. Even if you find one that has money and means to drill, he'll maybe know nothing about drilling. He'll have to hire the job out on contract, and then you're depending on a contractor, who'll rush the job through so he can get another contract just as quick as he can. (..)2007 There Will Be Blood