In the course of my work with Writer Beware, I see a lot of publishing contracts (for the most part, these are from small presses). One of the red flags I'm encountering more often these days is early termination fees: a penalty that must paid by the author if s/he wants to get out of a contract early.
A few examples of early termination clauses, taken from contracts in my possession:
The Author may terminate this agreement before the end of the term by means of a contract buyout....The Author will pay to the Publisher the sum of $500.00 (five hundred dollars) to exercise this contract buyout option. This fee must be paid to the Publisher by the Author at notification of intent to exercise the buyout option. The Author will be responsible for full payment of damages and customary legal fees as a result of legal action stemming from failure to pay this buyout clause.






