Mistakes happen! If an award has already been signed but contains incorrect information, you'll need to correct it by following these two steps:
- Terminate the incorrect award.
- Create a new award with the correct details.
If an award contains inaccurate details regarding the number of assets, initial value, or vesting terms, cancellation is required before issuing a corrected version.
Step 1: Terminate the incorrect award
- Open the award detail page for the incorrect award.
- Click the "…" menu in the top-right corner and select "Terminate Award."
- Review the draft termination (like other processes in ELP).
- Check for any generated termination document template.
- Publish the termination process.
- Complete the signing process if required.
- Confirm the award is terminated; associated assets become available for reallocation.
Step 2: Create a new award with the correct details
- Access the Awards section.
- Click "Create New Award."
- Enter accurate details for number of assets, initial value, and vesting schedule.
- Generate and review documents if applicable.
- Publish and complete the signing process.
The fixed award is now active and correctly issued.