The Network giveth and The Network hath taken away. Verizon has announced that it is eliminating its semi-popular one-year contract option, explaining that most customers sign two-year contracts and the options for month-to-month and prepaid accounts remain.

Separately, but perhaps not altogether unrelated, Droid Life dug up what appears to be promotional material for a new month-to-month $50 unlimited talk and text plan, referred to as "Unleashed Pricing." The plan also includes unlimited mobile web for feature phone users, with smartphones requiring an actual data plan.

The one-year option will certainly be missed by those looking for a short-term commitment to their carrier, but an affordable option to get completely off contract is a pretty nice alternative.

[Mobile Crunch, Droid Life]