I don't know of really anyone that has a 'contract'. I fly for a large part 91 department and this is how we work it:

We are given three 'hard days' per month, which can be scheduled days off. Per the corporation that employs us we receive our three weeks vacation each year, which increases every 5 years. Other than that, we get paid the same amount if we fly four days or twenty days per month. Added projects or assignments don't change our pay.

Management positions have higher salaries than a line pilot. The only people that I know who holds onto a contract also pays a union due. I personally don't feel it blends into corporate/private flight department type operations.

My experience has been that unless your job scope has changed to the point of a new job title, a salary adjustment really isn't warranted. You might see a few extra percent at the end of the year if you work for good employers... but that is all I would expect.

Good luck, hopefully you can set up this management company to be a positive work environment.