There are 2 types of contracts with Verizon, a service contract and a device payment contract.
If you are talking about a 2 yr service contract your customer agreement states the following:
"If you cancel a line of Service, or if we cancel it for good cause, during its contract term, you'll have to pay an early termination fee. If your contract term results from your purchase of an advanced device, your early termination fee will be $350, which will decline by $10 per month upon completion of months 7–17, $20 per month upon completion of months 18–22, $60 upon completion of month 23 and will be $0 upon completion of the contract term. For other contract terms entered into on or after November 14, 2014, your early termination fee will be $175, which will decline by $5 per month upon completion of months 7–17, $10 per month upon completion of months 18–22, $30 upon completion of month 23 and will be $0 upon completion of your contract term. If you cancel service, you may have to immediately pay off the remaining balance on any device agreement."
This would give you an ETF for EACH line on your account which was under contract. For contracts which would be completed in June of 2019, that would give you a current ETF of $310 for each line you cancel. That would work out to the ETF remaining at $350 thru December of 2018 and drop by $10/month for January, February, March & April.
If you simply have a device payment contract, all you would have to do is pay off the device(s) which still have a balance.
