It is not good enough, almost 5 months of stalling means the company needs a dose of reality
Yes and you guys need to give it to them. End of story.
I've seen all this before all too often, the company delays and stalls for months, then presents a **** deal. It gets voted down first time because everyone sees it for what it is. Then second time around the company says sign or you'll lose your back pay, which by this stage is usually at least 6 months worth, usually a lot more. And even though it's still the same **** deal, everyone is **** scared of losing their back pay and they all sign.