Huh. That doesn't seem crazy to me at all, I mean, if you are paying a bunch of money per-head, you want those heads to stick around a while. And I thought that VC funded aqui-hires were typically $1M+ per head? Yeah, I'll stick around four years for $250K/yr on top of market salary.
On the other hand, if I have 2% of the company, uh, yeah, then it looks a lot worse. but legally speaking, my understanding is that you can walk (you lose your golden handcuffs, but 2% of a million bucks is... not going to keep a silicon valley nerd anywhere they don't want to stay.)
http://dilbert.com/strips/comic/2011-10-04/