Canceling a Verion Plan??

Not sure if anybody might know the answer to this.

I just renewed my contract about a month ago to get the S4. Both my mother and father are eligible for upgrades, however I want to end my contract that I just renewed. Is it possible to transfer an upgrade to my account so that I can cancel my contract? I spoke to a verizon consultant online and they said i could, but I'm not sure if they understood the qestion.

Thanks for the help