Pleased with contract (5)
I believe the answer is:
lease
'contract' is the definition.
(I know that lease is a more specific form of the action contract)
'pleased with' is the wordplay.
'with' says the answer is hidden in the clue.
'LEASE' is hidden in the letters of 'pleased'.
(Other definitions for lease that I've seen before include "Letting contract" , "Contract allowing use of a property" , "Contract for use of land or building" , "Contract for, say, use of building" , "Term of a rental contract" .)