Provided that in the case of any teacher appointed for the first time, the period of the contract shall not exceed five years.
(2)
Any dispute arising out of a contract between the University and those mentioned in clause (1) shall, at the request of the teacher or officer or employee concerned, or at the instance of the University, be referred to a Tribunal of Arbitration consisting of one member appointed by the Executive Council, one member nominated by the officer or teacher concerned and an umpire appointed by the Visitor, and the decision of the Tribunal shall be final.