i had a quick read through, i mean theres nothing obvious that comes to my eye straight away where he's trying to stiff you, BUT its obvious he's written it himself theres spelling and punctuation mistakes which shouldn't be in a legally binding contract ! i mean the uk and us is different so im not sure if 3% gross is your industry standard, the main point in that is obviously your waivering you right to dispute in a court of law should you want to dispute at a later date ! your also declaring you have cleared all samples ? i don't know if you sampled in your track or not ?
also its pretty sketchy about royalties saying they will get paid to you thru his publishing company iirc ! so you defo need to go into that in detail with him before signing anything !
its hard to understand becuase tis so badly written lol