It's not a publicly traded company so the paper is worth exactly as much as the people who hold most of the paper decide it's worth. They need some sort of majority to vote to change the rules, and since the employees with unexercised shares control exactly 0.0 repeating percent of the company, you're going to lose that vote.
It's a democracy where the wolves vote that the sheep will be dinner.
It's a democracy where the wolves vote that the sheep will be dinner.