penalty-n; 3 Senses

Sense Number 1: a punishment that is the consequence of an action

Commentary: PENALTY[+state][+consequence][+punishment]

The two men received the death penalty for the murder of that man in Texas.
He paid a high penalty for ignoring his health all those years.
The charge carries a maximum penalty of five years in prison and fifty thousand dollars.
Society will pay a penalty downstream for ignoring these economic realities.

WordNet 3.0 Sense Numbers: 1, 3

Sense Number 2: a fine or payment made for breach of contract

Commentary: PENALTY[+quantity][+payment][+breach][+contract]
NOTE: refers to a specified sum relative to a contractual agreement

There is a significant penalty for early withdrawal of this 401k account.
The shipping firm didn't have to pay much in penalties for that illegal dumping.
What is the penalty for defaulting on this loan?

WordNet 3.0 Sense Numbers: 2

Sense Number 3: a handicap or disadvantage accrued in a competition

Commentary: PENALTY[+state][+consequence][+handicap][+competition][+game][+ball/+card]

The hockey player was sent to the penalty box for excessive roughness.
The basketball player scored on his penalty free throw.
John and Mary scored big penalties when Bob failed to complete his contract bid during the last bridge game.

WordNet 3.0 Sense Numbers: 4