Verizon phone contracts help?

Incognito

New member
Currently i have a Droid Eris that i bought with a 2yr contract back in March2010. So itll almost be a year. And i have no upgrades left on my plan.
I wanted to buy the iPhone when it was available for verizon.
My question is that; Can ONLY i buy the iphone($299) when it comes out? or do i have to renew the contract? ANd is there an additional fee or anything?
 
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