A Cliff is a term used to describe the length of time it takes for stock options or other securities on a vesting schedule to partially or fully vest.Example:
A typical vesting schedule for a startup is monthly over 4 years, with a one-year cliff. This means that the recipient of the equity will receive nothing for the first year, then 25% after the first year, and then the remaining 75% will vest monthly over 36 months.Employment Contract Considerations for Small Businesses and Startups
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With several entrepreneurs in our ranks, we understand what goes into building a business. It’s much more than turning an idea into revenues. It takes preparation, planning, sacrifice, and adaptability. And once you’ve given everything you have, occasionally the tide changes and you have to re-think your entire strategy. With hundreds of successful startups as clients, we thrive on turning an initial consultation into a successful, long-term relationship. So give us a call and let’s get started.