It is the ultimate catch 22, but in the end, they dropped the ball and didn't mention/offer it to you at the beginning of training. Honestly, any self-respecting person can stick it out 1 yr at a job, no matter how bad it is, unless obviously personal safety is an issue(won't go there). I signed one at my small 135, for $6k for flying C310's. It didn't bother me because I knew two things, first that I was easily going to stick out 1yr, and secondly I knew that if need be, I could prove that the training wasn't worth that much money, and obviously pro-rate it down also.

Do what you want, but if you think this company is legit, safe, and does most things right, then is it really going to hurt you by signing it? If things start becoming fishy, start documenting events and actions by your superiors, but to build that trust and stay in good graces with them I'd just sign it.