"Reynolds, we now own all rights to your image. You'll have to pony up $100 to the company every time you look in a mirror."
When you sign something that says you are giving your rights away, then that's what it means. Mike Strang blogs about his bad experience with Platinum Comics here.
As Xavier Xerxes says in his comments, we don't know what the other side says here, so best to take this with some salt over the shoulder.
For the work I do (magazine cartoons), I just put a line in my invoice saying that copyright stays with li'l ol' me.
Another Journalista! hat tip!
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