Wow this is a terrible deal. For reference and an idea of what I know I have a BA in music business at UCDenver and have been working in the industry for 7 years. For one, you have now given away your song which, if it is a potential hit, you will never get your masters back. That's worth faaaaar more than 10% since most of your income as an artist in the digital age will be from publishing. Say goodbye to any monetization of mechanical licenses since you now will never own the iconic recording that people fell in love with and will want to use in commercials ect.

Second is a publisher should never make more than 10-25 percent (more if they're in demand like Dr. Dre or Danger Mouse ect.) Basically you're signing away potential money earning rights for non lucrative exposure. In the short term while trying to break, this looks enticing, but you will soon find the checks for streaming mechanicals (which you won't earn in this deal) are going to be staggeringly low and you now only get 1/10th of what they're worth.

Major labels are the worst business deal because they don't break artists anymore, they just give you placement. Now in this deal you're not getting any terrestrial radio push which is really all a label is good for. So why sign up just to maybe get a few connections of other people who want to take advantage of you?

Get a lawyer and look over the deal, but I would never sign this in a million years.