I didn't think I could use that phone and was going to return it to where I purchased it at $200. They are willing to take the phone back for a refund.
I thought this phone would be useless since it is attached to this contract. And that's why I feel $350 to cancel and then turn around a start a new line with new service and pay full price for another phone with 24 monthly payment plan is excessive.
Willing to take back the phone for a refund does not mean you have to return it.
That phone can be used on ANY line of service with Verizon. If you fail to pay the ETF, though, Verizon may block that phone from receiving service. Just make sure you pay the ETF when you cancel that line of service.