Is the type still being used by other companies? If so then weigh up your options carefully.
But if you're blissfully happy where you are, have no intention of leaving etc then you've a decision to make. Accept the bond = employed in a stormy market versus don't accept the bond = they'll find some way of getting rid of you.................perhaps.
Of course, this then sets a dangerous precedent for the type being introduced to replace the type you're currently on. Will you then have to enter into another three year bond for the new type, effectively bonding you to the company for 4 and half years?
Sign of the times I'm afraid.
If the old timers had seen this coming a few years back and acted then, guys wouldn't be finding themselves in this sort of position today.