I fight in the last season in The Island, but the contracts was never that low. My first contract there I got 3k signing bonus, 2.5k per fight and 2.5k win. And I was a noob, a new manager in game. My advice, don't accept contracts lower than that. Also inactivity clause is very important on The Island, some orgs may become inactive there and you will have your fighter blocked for a long time. 15 days inactivity clause is the thing you should negociate first, 30 days if the org belong to an experienced manager.