1a. an event that may occur but that is not likely or intended; a possibility b. a possibility that must be prepared for; a future emergency 2. the condition of being dependent on chance; uncertainty 3. something incidental to something else

This word gained favor among the UVa students who wanted to align themselves with Richard Rorty, who was ostensibly a professor there, because of his book Contingency, Irony, and Solidarity.