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
Step 1: Terminate the Incorrect Award
If an award was signed with incorrect details - such as the number of assets, initial value, or vesting terms - you must cancel it before issuing a corrected version.
How to Terminate an Award:
Open the award detail page
Navigate to the specific award that contains incorrect information.
Click the "..." menu in the top-right corner
Select "Terminate Award".
Review the draft termination process
This process will be in a draft state, like any other process in ELP.
Check for a document template
If a termination document template exists, it will be generated for review.
Publish the termination
Once reviewed, publish the termination process.
Complete the signing process (if required)
If any documents need signing, ensure all signatures are collected.
Confirm the award is terminated
After completion, the award will be canceled, and all associated assets will become available for reallocation.
Step 2: Create a New Award with the Correct Details
Once the incorrect award is terminated, issue a new one with the correct information.
How to Create a New Award:
Go to the Awards section
Click "Create New Award"
Enter the correct details
Ensure the number of assets, initial value, and vesting schedule are accurate.
Generate and review documents (if applicable)
Publish and complete the signing process
That's it! The fixed award is now active and correctly issued.
Need help? Reach out to our support team anytime.