There's actually a mortgage company that does worse; They call it the 'People Promise', and it sounds like a bonus, but;

1. It's actually a loan.

2. If you leave or are terminated at any point for the period, you have to pay back the ENTIRE loan amount.

3. Because it's a loan, if you -do- survive employment through the term, guess what, you now have to pay tax on the 'forgiven loan'.

4. If you don't take it, you don't get hired.

Number 3 sounds like nothing out of the ordinary? Any bonus you get from an employer, granted or otherwise, has to be taxed at some point. This just sounds like a weird signing bonus.

Each of your points escalated over the last one, somehow.

Why not name the company?