German gets terribly fit, for the present (4)
I believe the answer is:
gift
'the present' is the definition.
(I've seen this in another clue)
'german gets terribly fit' is the wordplay.
'german' becomes 'g' (abbreviation).
'gets' indicates putting letters inside.
'terribly' indicates an anagram.
'fit' is an anagram of 'ift'.
'g' put inside 'ift' is 'GIFT'.
'for' is the link.
(Other definitions for gift that I've seen before include "Endowment" , "Natural talent" , "A natural attribute" , "Give away" , "Donation" .)