Verizon's all-touch XV6900 has a pin-size reset button on the bottom. While pressing that immediately commences a hard re-boot of the device, it is not the way to restore your unit to its manufacturer defaults.
To do this, open Settings, click the System tab and choose "Clear Storage." You'll be prompted with a warning that the action will permanently wipe all data and reset everything to the manufacturer's defaults. When you're ready to do this, you'll have to type in a word or set of numbers to confirm it's what you want. Then tap "yes" and you're all set.