Jim works for a logistics company. His duty is to deal with government institutions on transportation and customs matters. Thereafter, he will update his supervisor on his dealings and conclude on what to do next.

Jim signed a one year employment contract with the company when he started working four and a half years ago. His contract had since been renewed four times.

Jim reports to his supervisor everyday and has to follow working rules applicable to all employees. The employment contract states that: "Employee agrees to waive/give up any right to receive any kind of compensation, severance pay, bonus etc. in the event that the contract is not renewed for another year".

Yesterday the company told Jim that his contract will not be renewed for another year. Jim is shocked and does not know whether he has any legal recourse.

Please advise Jim.