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.
(..) From now on your name is Sen. You got that? - Answer me, Sen! - Oh. Yes, ma'am. You called for me? This girl signed a contract. Set her up with a job. Right. What's your name? What? Chih... Oh, it's Sen. Okay, Sen, follow me. (..)2001 Spirited Away
(..) I'm not leaving until you give me a job! Okay. Okay. Just be quiet. Here comes Mommy. I'm coming to get you. That's your contract. Sign your name away... and I'll put you to work. If I hear one little complaint out of you... you'll be joining your parents (..)2001 Spirited Away