I really need help with Verizon RAZR V3c

Here is what happened.
my Razr that I had from last year: problem receiving calls.
1st one that I replaced with : problem with software.
2nd one that I have right now: again receiving calls.

I am kind of sick of VERIZON right now.
I heard that if they replace me three time(which is onw more time for me. correct?) and if there is still a problem.
I get to choose from
1. terminate my account with no terminating fee.($250 I belive)
2. they exchange me with NEW phone.
3.thet exchange me with different NEW phone?(is it gonna be only in motorola phones? not like LG or SAMSUNG?)

could you guys tell me what I know is correct or not? and if you went through this process before could you also tell me how did it work out?

Thanks.

It costs a lot of money to keep replacing the same phone over and over again. Therefore, Verizon has policies in place to address recurring issues such as yours. If you take the phone back to a corporate store, they should be able to exchange your phone with a new phone, because you have already been through 3 phones. Verizon doesn't want to lose you as a customer, so they are not going to let you out of the contract, it makes more sense to get you a new phone that works.