There is no such thing as "or else". They will keep you until its time for a checkride or SimSchool and then the topic will come up again. They want you to understand that they have a vested interest in you, and they are trying to tell you that by making you sign something. Ussually a discussion and a handshake can get this done in small companies. Try a discussion before you "lawyer up".
I have found that once an employee is not happy, it is time for them to move on. Pilots have direct contact with our customers and can sour a passenger much faster then bad catering