penalty

penalty is a Noun

Definition:

[1] Penal retribution; punishment for crime or offense; the suffering in person or property which is annexed by law or judicial decision to the commission of a crime, offense, or trespass. Death is the penalty imposed. Milton.

[2] The suffering, or the sum to be forfeited, to which a person subjects himself by covenant or agreement, in case of nonfulfillment of stipulations; forfeiture; fine. The penalty and forfeit of my bond. Shak.

[3] A handicap. [Sporting Cant]