签约 

Pinyin: qiān yuē 
Meaning：Sign a contract 
Sentence：我们还是不签约吧。Let us not sign the contract.

More: 

签： 

Pinyin: qiān
Meaning: Sign one's name; lot
Radical: 竹
Stokes: 13
Traditional: 簽籤
Common words/Phrase:
签证 [qiānzhèng] 【visa】 
签字 [qiānzì] 【to sign】
签订 [qiāndìng] 【to agree to and sign】
签署 [qiānshǔ] 【to sign】
签发 [qiānfā] 【officially sign and issue】

约： 

Pinyin: yāo,yuē
Meaning: weigh; mile; somewhere
Radical: 纟
Stokes: 6
Traditional: 約
Common words/Phrase:
约会 [yuēhuì] 【apointment】
约定 [yuēdìng] 【promise】
约束 [yuēshù] 【restrict】
约见 [yuējiàn] 【meet up】