penalty

(noun) the act of punishing. Synonyms: punishment, penalization, penalisation.

(noun) a payment required for not fulfilling a contract.

(noun) the disadvantage or painful consequences of an action or condition. Example: "Neglected his health and paid the penalty."

(noun) (games) a handicap or disadvantage that is imposed on a competitor (or a team) for an infraction of the rules of the game.