There will be a Verizon iPhone at some point, but at this point 2010 does not seem likely. First, the iPhone 4G prototypes discovered have a micro-sim slot which indicates that it won’t work on Verizon Wireless network. The iPhone 4G will, however, be released in 2010 and we know the main features of it thanks to leaks.
The iPhone 4G will be released in World Wide Developers Conference with iPhone 4.0 software. It has a video camera on the front and a metallic button design on the side.