Breaking contract at Verizon?

I have a 2 year contract with Verizon IPhone 4S. I want to get an iPhone 5 how can I break the contract and get one? And how much will it cost to do so?

Cost depends on how long you've been in the contract. It will be a lot.

iPhone 5S with a 2 year contract:
16 GB - $199
32 GB - $299
64 GB - $399

iPhone 5S with no contract:
16GB - $649
32GB - $749
64GB - $849

iPhone 5C with a 2 year contract:
16 GB - $99
32 GB - $199

iPhone 5C with no contract:
16 GB - $549
32 GB - $649

The cost to break a contract with verizon starts around $250-$300.
I think you can do an upgrade after every 6 months and the cost for the phone would be just a little more than a new account. Check with verizon, these companies are happy to assist you when they hear money.