Cliff
Usually applying to vesting schedules, Cliff vesting is when an employee or investor becomes fully vested on a specified date rather than becoming partially vested in increasing amounts over an extended period.
Equity
The value of shares issued by a startup (or other company). e.g. she owns 63% of the startup’s equity.
Vesting (Schedule)
The schedule under which founders and employees must remain in the company before receiving their full share of the equity.