Primate If you have tens of millions of views and thousands collections, you don't need a contract really. With such popularity, you can make it on your own. After all, you gained such popularity on your own, without a contract.
enthu_reader The number 1: Never heard it happened, but they can. They can ask you to stop working on your novel, but you still can (although they will not pay you and the copyright will be theirs anyway :D)
The number 2: You get 10% I believe, for 3rd party adaptations (and 50% for the rest of the stuff). Moreover, any sequels and whatnot that you write, they pretty much own it as well. Whether that is unfair or not, it's up to you to decide. The number 3: they are pretty lax about that from what I heard. People are usually left to their own devices.
4th: The contract never ends in a way, because you basically sign off all your rights to the novel. You are not the owner of that story anymore. I know, you write it, but you don't own it (confusing, but that is how it works). That is why they can do whatever they want with your story. (they own the copyright not you)
Then there is this part: Party A and Party B agree and acknowledge that, all other works created by Party B in
addition to the Work within one (1) year after completion of the Work under this agreement, shall be regarded as "Party B's New Works", for which Party A has rights of priority to exploit.
In other words, after you finish your contracted novel, any novel no matter if it has something to do with the contracted one or not, they have priority to exploit it. But that is not the end. Even after a year passes and you specifically write nothing, they have that covered. The first novel you write after the year passes, they can still exploit it.
"If Party B only creates new works after the expiration of the above stipulated period of time,
Party A shall enjoy the same priority rights described herein to the first new work
created by Party B (which will be regarded as part of the Party B's New Works) after
the above stipulated period of time...."
By the way, you have to ask them by writing (at least contractually), if they want to use your new novel. If they don't, yea you are free to licence it to anyone who wants, otherwise nope. Also, you are not allowed to licence your novel to anyone, before 30 business days pass (and after you notified them, but there is no answer or they give you a go ahead).
It's up to you guys. Signing it or not, it's up to you. To anyone who thinks about signing it, consult a lawyer, a solicitor or whatever. The language is convoluted like in any contract. If you don't understand it, don't sign. The best tip is, know what you are signing, before you sign it.