A commentary published October 1 argues that the "cliff" in German start-up equity plans has become a key retention tool. The article, which covers Employee Stock Ownership Plans (ESOPs) and Virtual Stock Ownership Plans (VSOPs), says cliffs were once treated as boilerplate. Its author ties the change to a March 2025 ruling by the German Federal Labour Court (Bundesarbeitsgericht, or BAG), which eliminated the ability to forfeit vested awards when an employee leaves voluntarily.