After getting his badge, Tom figured it was all official now. So followed by his recruitment was another letter with same wax seal. This time instead of chicken scritches resembling a handwriting, it was an actual official parchment.
And since the player sucks at writing up official documentaries, only TL:DR version can be found on the forum xD
TL;DR
Dem contracts says that while Tom is officially a member of ViperLily, for the duration of contract he is subject to all rights and responsibilities of a guard, so basically his position as a member of a private trading company is deemed null for the duration of contract, except in one case: If in a battle with hostile forces (siege, bandit raid, unnatural forces) Tom is allowed the priority looting rights right after the Sovereignity.
All wonderful keypoints right there, most of the contract is just filled with the necessary legal jargon to specify and RENDER null most looholes.
Also, there'll be two month "grace period" that when Tom wishes to terminate the contract, he still has to serve the additional 2 months or face legal consequences. Though if the other side wants to make him stop doing guard duties, they won't have to employ him for the grace period time.
A remnant extra thing for mercanaries wanting to switch to winning side in a war!