Nope, sounds like they want to bond you for the whole lot, and reduce it pro-rata over the 2 years. The Award requirement limits them to bonding you for half the cost... and if it costs $200k to train someone on a gulfstream they are doing something wrong or someone is getting one hell of a kickback.
That is a really bad deal, and I would not even consider it a genuine offer given the current demand for pilots in the industry.