Vesting is the earning equity over time or on milestones. A cliff is an initial period (often one year), before any equity vests. If you reach it, that portion vests at once. Acceleration speeds up vesting on a defined event. There is single-trigger acceleration on a change of control, or double-trigger acceleration when a change of control is followed by termination.
These terms shape found and employee equity and are negotiated in financings.
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