Read the LOU closer now.
"i. In the event an insufficient number of NJA pilots accept posted NJI
First Officer vacancies, the Company shall allow the next NJA new
hire pilot who meets the NJI hiring criteria to transfer to NJI
immediately after his hire at NJA. The parties acknowledge and
agree that NJA in such cases shall not provide a NJA type rating to
the pilot."
Hmmm... Seems like the 2 years is waived in the case of the above so long as the 5000 hours is satisfied.