Is it easy to negotiate a change or add an acceleration clause in the options grant? Seems like those docs are set in stone and very hard to change without board approvals etc.
Really, the only potentially bad contracts are the ones that you've signed. So as long as you haven't signed you have negotiation room and if your choice is between being paid 'market rates' versus being paid 'half of market rate + options' and those options are subject to change without notice then you're just setting yourself up for being hurt if you chose the second.
Nothing is set in stone, that's more a matter of self-confidence and knowing when to walk away.