I'm just torn because, someone wants to hire me, and I've been told by others that I should provide a CD-R of high res images with a "5 year non-transferable right to distribute). However I don't know how to go about copyrighting in that scenario. Does each photo need my name and the (c) on it?
The work is copywrited automatically as soon as it is created. You do not have to do anything. The photographer owns the work unless he is an emplyee who was directed to take photographs in which case is employer owns the photos. In your case you are your own employer.
I think in this case you want to put a copyright notice inside the metadata in each image file. I asume you will be turning over TIFF or PSD format files these and even JPG files do allow a place inside to put your name and copyright. The copyright notice is a combination of an artist signature and a copyright reminder, the work is protected even without it. But if there is any future disagreement it will help your prove your case.
You will need a contract that explains what is being given and what is being paid. If you want an airtight contract you'll need a profesional to write it. But if you trust the other party and the amount of money is small you don't need "air tight". You can also hunt around for a sample contract. Same photo store sell pads of contract forms for this and things like model or property releases. Ask the buyer if he needs these releases, he likely does. Charge him for your efforts to secure these third party contracts. I'd buy a few pads of fill in the blank contracts and releases
You do not have to worry about being riped off. There is nothing they can take you are already selling them full rights, (five years is some long that it may as well be "forever")
You don't say but I asume the client want "exclusive" rights. Meaning you will not sell the images to anyone else.
You should charge them such that your time to shoot and post process is completely covered at a hourly rate that is reasonable for a middel class lifestyle. This is the way photographers
should work. To many of them shoot for free then try to make a liveing as what is in effect a photofinishing clerk.