Notts County have appointed Chris Kiwomya on a three year deal,their history like many other clubs 'gives him 18 months' why not a twelve month rolling contract ? http://www.bbc.co.uk/sport/0/football/21951220
Most have a 6 months termination clause or whatever the club/manager negotiates, unlikely he has a 3 year deal as we understand.
The 'fake' 3 year deal is in many cases to placate fans and to try to encourage supporters to accept the appointment.
I am sure he will be sacked within the average timescale and the club will not need to worry about paying up his contract, it was only ever a rolling contract anyway.