Why would anyone sign a contract for 10 years? I mean if I were a wrestler I'd only sign a 1-3 year deal. 10 years is a lot of time, and who's to say things might change somewhere down the line. I'd rather have a 3 year deal just to be safe.
Depends on how much they are being paid. They could always negotiate a release, or sit at home and collect a nice salary if forced to retire. Guess it depends on the nature of the contracts.
It's a sign the company has faith in you if they want to sign you to a guaranteed contract for 10 years.