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As has been mentioned, contracts mean nothing but I guess it sends a message. Days has been signing alot of the younger stars to long-term deals and I think alot of that has to do with fear of losing them to film and primetime. I know it's Eric we are talking about here but the show still wants to be in control of his status so they rope Eric in for 4 and if they want to get rid of him, they just do when his cycle was up. That is probably the reason for the contract. It's a security measure for the show.

Corday did sound optimistic the last time he was interviewed in August. He said he was hopeful we would see another 5 years at least so who knows. As I said in the ratings thread, I believe NBC and Days are more focused on demos, along with many soaps, so that would explain the optimism.
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DAYS:Eric Martsolf Update · DAYS: News, Spoilers & Discussion