Let me get this straight: This publisher wants you to give them exclusive rights to all your work for the rest of your life? At least, the thrust of your post implies this.
I would advise against signing the rights agreement (as described by your post).
Anytime you're signing away all rights to a work to someone you should be expected to receive a nice chunk of money. For example, an artist will sell you reproduction rights to their work for $100, sell you print for $10, but if you buy the original and all rights they will want $2000.
Just my .02.
**Disclaimer: I'm not a lawyer, just dispensing advice learned through my work as a publisher**
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