According to f4wonline.com, Kevin Owens has signed a main roster contract with the WWE. He has also been informed that he will be making the transition from the NXT brand to the main roster quickly. He is booked for all Raws going forward and will be scheduled for the main roster house shows soon. The plan is for him to remain an NXT character for the next couple of months since he is the champion so that they can book a smooth exit for the character.

If I'm reading this correctly, he's now going to be used on Raw and NXT? Both full-time? Nice.

More than likely, but i assume he's going to be off NXT as soon as he loses the title.

So what contract did he have before? Just an NXT one?

When you move from NXT to WWE you get a lot more money. He probably just signed a contract for probably for 6 to 10 times as much as he was making in NXT.