This idea that people (or perhaps just Eric) should work for free if they believe in what their company does is just plain cockimamy. How many years out of the last 10 have you worked strictly on a volunteer basis? If the answer is zero, is that because you don't believe in what you do? Or this all about you having a double standard for Eric?
How about a new rule here: people should only demand that Eric work for free if they work for free themselves.