Lieu (noun)

1. Place or stead; instead.
2. As a replacement or substitute for something else.
3. A payment or compensation given in place of something else.

Origin:

Middle english: from old french lieu "place", from latin locus "place".

Examples:

1. He took the day off in lieu of pay.
2. The company offered a bonus in lieu of a raise.
3. The new building was constructed in lieu of the old one.
4. The replacement was made in lieu of the original.
5. The prize was awarded in lieu of the award ceremony.