Is it legal to pay a contractor additional funds to accelerate work?
I assume the additional funds would be used to permit the contractor to either put more personnel on the contract or pay overtime to expedite the work. There is nothing illegal about doing this, but you could run into an issue if the work scope could be considered to change as a result of accelerating the work. If the scope changes, a J&A in accordance with FAR 6.302 could be required to address restricting the increased work scope to the current contractor, unless FAR Part 6 is not applicable to your contract (see FAR 6.001 for applicability).
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Please consult with your activity's legal counsel for more definitive guidance.