When I purchased this phone it was scheduled to get the 8.1 update. I verified this information with your sales dept. before I bought the phone. They assured me it would be available by September. I keep checking and searching for information as to when it will be available. I see that Verizon has held the release for an unknown reason. I bought the phone for the upgrade. If Verizon is not going to release it then I was sold this phone with false advertising. I would love to hear something positive from Verizon very soon.
Read this part:
This agreement and the documents it incorporates form the entire agreement between us. You can't rely on any other documents, or on what's said by any Sales or Customer Service Representatives, and you have no other rights regarding Service or this agreement.
And Microsoft has the update since Verizon sent it back due to quality issues. Sales people will tell you anything to make a sale.
Welcome to the club!
If you want WP8.1 you will need to enroll in the Preview for Developers. There are many posts on this forum detailing & explaining how to do this. OR pay the early termination fee & go to a company that cares about it's Windows Phone customers.