Dear HangTheBandit,
Please go through your contract papers carefully. No contract can bind you for life. Most countries have only 1 month as notice period or pay in lieu of. Even your current employer is trying to put a spoke in your carrier progression, why should you bother. If the new job is good and you are able to explain your position to the new employer, if he agrees to take you then there is no problems. Give them whatever notice you can and leave. Rest can be settled later.
Good luck with the new job.........