I have been in a two year contract for a year on verizon... phone...?

I have been on a two year contract on Verizon since March of '07. I want to get the new EnV2, But will i have to pay the full price of the phone, or can i just pay the two year contract price of $99.99 (with a $50 rebate) and if i do that, will my contract still end in march '09 or what? Please help