Hi! I think it would be nice if we knew more info about your project.
For starters I would really appreciate if you posted the link to the novel so we can know better what it is all about.
This is a long term project, so I think it would be nice to know what is expected of each part. That means, would the author work in the comic adaptation, the storyboarding, etc or only in the actual novel writting.
That is important because I'm curious about the revenue splitment. Normally people says 50/50, but I think that in this kind of project the artist does the biggest amount of work. If the artist is expected to create an adaptation, storyboarding, sketching, inking and coloring in a week for as long as the comic is serialized is clearly not a fair share. Also, assistants would be probably needed.
Lastly, Im also curious about if any payment at all would be done for the entry. 4 chapters of 70 panels is more than a month of work, since also character design and explorations needs to be done, and I think it needs to be clear if that work is going to be payed or not.
Hope I wrote everything properly! Its a bit late and english is not my first lenguaje. I know you mentioned some things in your post, but I think that is easier for everyone to know if they are a proper fit for your project if they know exactly what your terms are.