For any visa valid longer than six months, the duration of stay will be 90 days, but it means that the bearer of the visa may be present in the Schengen area subject to the 90/180 day rule. In other words, your visa authorizes you to be in the Schengen area for up to 90 days in any 180-day period, subject to some additional conditions.
This is explicit in the Schengen Visa Code:
When a visa is valid for more than six months, the duration of stays is 90 days in any 180-day period.
This text is found at the end of item four of Annex VII. The annex describes the rules for filing out the visa sticker, and item four concerns the "duration of stay" element. For reference, and in support of the assertion that all visas valid for longer than six months will have a 90-day duration of stay, here’s all of point four:
4. ‘DURATION OF VISIT … DAYS’ heading:
This heading indicates the number of days during which the visa holder may stay in the territory for which the visa is valid. This stay may be continuous or, depending on the number of days authorised, spread over several periods between the dates mentioned under 2, bearing in mind the number of entries authorised under 3.
The number of days authorised is written in the blank space between ‘DURATION OF VISIT’ and ‘DAYS’, in the form of two digits, the first of which is a zero if the number of days is less than 10.
The maximum number of days that may be entered under this heading is 90.
When a visa is valid for more than six months, the duration of stays is 90 days in any 180-day period.
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