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You should speak to a lawyer ASAP obviously but I'm confused: you signed a contract that required you to sign the contract at the end of the contract?

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I think they meant they got options which they can execute at a fixed price within a limited amount of time after their tenure. Most early stage companies give their (ex) employees a small window to execute these options after they leave.

What intev said

Ok, the OP's wording was weird. If this is the case, basically he was granted stock options and failed to exercise them, which would have also had tax consequences since they must have been NSOs if he wasn't an employee.

Not quite fair for the OP to talk about the contract being "f**ed" and using the word "recourse", as if the company did something wrong.

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