I know nothing of employment law beyond the minimum but just because he can't get termination pay doesn't mean that there isn't some sort of other legal recourse (another wrongdoing of some kind).
I would strongly suggest you talk to an employment lawyer. If you are worried about cost, find one that will give you a free 30 minute consultation, most lawyers will.+
EDIT: also, was this five year committment thing understood or was it in your contract?
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