...but it seems to me that fair market value exchanges of stock are possible by negotiation if not enforceable. What's the transferability provision in the contract, what's in their interest? It's all biz in the end and more importantly about the potential. No arm twisting may be needed. Notice they keep the enemy close. Not such a bad move imo. Symbiosis.
In the end, growing companies can make these guys work for them. Losers don't have room to put up a sign.