Normally, a "5 year contract" between one person and an organization would de facto constitute employment and as such the person would have the right to remain in his position, if it is in fact meant to be permanent (ie if the need for a person is still there, you can't be fired only to be replaced by the "lowest bidder"). This is at least true in Norway, and I suppose it would more or less apply to the rest of the civilized world.
If it's honored, however, is another thing...