iphone app now is Pending Contract will it be removed from the itunes store?
From this Apple FAQ : 


  What happens if I do not renew my iOS Developer Program membership?
  
  Once your membership expires, your apps will no longer be available on
  the App Store and you will lose the ability to submit new apps. You
  will lose access to pre-release software, the Apple Developer Forums,
  Developer Technical Support, and the Certificate Utility. In addition,
  your existing iOS Distribution certificates will be revoked and
  invalidated. Finally, if you enrolled in the program as a company, you
  will lose the ability to manage your development team.
  
  You will, however, retain your status as a Registered Apple Developer
  and will have access to free development resources.


In order to conserve your app on the AppStore, you must renew your iOS Developer Program.

Hope this helps !