In a word - cool! I am thrilled that Verizon is willing to make some badly needed changes to the way they allow for ending contracts.

NEW YORK - Targeting a top gripe by cell phone users and breaking ranks again with its industry, Verizon Wireless plans to prorate the fee it charges subscribers who break a contract so they only pay an amount proportional to the time left on their agreements.

The change in the early termination fee will be implemented this fall for all new customers and any Verizon Wireless subscribers who sign a new contract, the company announced Wednesday in tandem with a speech by CEO Denny Strigl at an industry conference.

The company, owned jointly by Verizon Communications Inc. and Vodafone Group PLC, also said it was addressing another customer frustration by enabling existing subscribers to upgrade to a new handset at the same steep discounts being offered to lure new customers…. Source: AP