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1 : payment of a share of an amount for which one is liable: as
a : shared payment of a judgment by joint tortfeasors esp. according to proportional fault compare apportion
b : pro rata apportionment of loss among all the insurance policies covering the same person or property compare indemnity
2 : the money paid by one responsible for a share
3 : payment to a common fund (as by an employer or employee to an insurance plan or retirement fund)
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.