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The Motorola Moto X for Verizon is now receiving the software update, which has already been released to the other three major U.S. carriers. T-Mobile was the first to offer the update, followed by Sprint, then AT&T. Now Verizon owners will finally get a chance to enjoy the improved color accuracy, focus speed and exposure on the rear camera.Along with the improvements to the camera, the update will improve the accuracy of the phone's touchless controls and eliminates the chopiness that occurs during some phone calls. In addition, the Motorola Migration Experience is improved. That feature lets you move over photos, videos, texts, call lists, SIM contacts and more from your old Android phone to your shiny new Moto X.
Another improvement included the elimination of a bug that affected Motorola Assist, which lead to the reading of text messages at inopportune times (we could have a field day with that one). The update also adds a 30 day expiration date to the Google Drive 50GB offer, and fixes a problem that sometimes prevented a lost Moto X from reporting its position with the Moto Care Lost Device Finder service.
Motorola suggests that your battery be at least 50% charged when you download and install the update. If you have not received a notification about the update, you can try to pull it out manually by going from Settings > About Phone > System Updates > Download > Install.
source - Phandroid