Venture Deals · glossary
A first period, usually a year, in which nothing vests, followed by a quarter vesting at once. It exists because a founder who leaves within a year has usually built little that lasts. Cormac Duffy left the day before his cliff, so on the company’s case nothing had vested. Schedule 6, para 1 · Chapter 5
Explained in Chapter 5, Vesting, Leavers and the Founder Who Left, of Venture Deals.
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