cliff
A1CEFR level
15/100Rarity: common
TechnicalRegister
Law noun
A period that must elapse before any equity award begins to vest.
The founders' shares carried a one-year cliff, so an early departure forfeited them entirely.
Business noun
An initial period during which no equity vests, after which a lump portion vests at once.
He left three weeks before his one-year cliff, so he walked away with no equity at all.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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