IPhone in Europe 2 years from now

I am living in the US and am considering the purchase of an iPhone. However, I may need to move to Europe within the next two years. It looks like I'll have to pay the early termination fee of $175 if we move before the service plan has expired but my question pertains to service in Europe afterward.
Will the iPhone function with a service provider other than AT&T? An AT&T sales rep yesterday was negative: the phone has been locked and will not function with a carrier other than AT&T. Can somebody confirm or deny this? Is it written somewhere?
Thanks,
W. Spiff

It looks like nick638's answer is closest to the truth at this point. Nobody knows what will happen. Today I talked to an online apple sales rep and he admitted they don't know.
Selling the US iPhone on Ebay sounds like a decent idea.
If now those AT&T folks would let me get out of the contract if I have to leave the country before the contract expires.

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