I've seen worse contracts. Other than the 10 year period, which seems a bit long, it's fairly acceptable.
But a publisher who has only been in existence a few months, has one book out, has no verifiable staff credentials wrt industry experience, and has no distribution other than Ingrams, isn't one who is likely to sell a lot of books. Given that their sole author is also a "partner in the company", my guess is that this is a self-publisher trying to turn trade publisher.