If the results don't pick up he will go.
Really doubt it would happen, given the 8 year countract he's been given.
Ashley wont risk relegation, no matter what contract Pardew has, he's a business man, not that stupid when it comes to that.
It's stupid to give someone, especially a manager of a football club, a contract of that length.
It's mostly an indication of what we're (ashley) trying to do (pr as well), and as Mick and others say probably full of clauses. Will not matter much if we keep sinking even further. Business will come first.