I assume you knew your age and it’s implications for earning an ATP, why did you sign this deal? They are essentially offering nothing and holding you for several years, if upgrading to captain is required to fulfill the contract. Why are you under contract NOW, you haven’t met the captain’s requirements? If the contract’s one year starts at captaincy, are you obligated now?

I’ve signed contracts, I gave a year in return for a very valuable type rating in a current production bizjet. I’d consider that reasonable, especially as I’d be getting substantial experience in the Jet. You, however, are only getting some 135 time in a piston airplane.

Stick it out and call it a lesson learned, once you get ATP. You’re not screwed, just in limbo.