http://www.computerworld.com/s/article/9224701/Google_puts_1M_on_the_line_for_Chrome_exploit_rewards?source=CTWNLE_nlt_dailyam_2012-02-28

**article excerpt**
Google is ditching that $20,000 maximum scheme, and will put up to $1 million 
on the line at CanSecWest, said Evans and Schuh.

"We've upped the ante," said the engineers.

For what they called a "full Chrome exploit" -- one that successfully hacks 
Chrome on Windows 7 using only vulnerabilities in Chrome itself -- Google will 
pay $60,000, which is equivalent to Pwn2Own's top prize for that three-day 
contest.

A partial exploit that uses one bug within Chrome and one or more others -- 
perhaps in Windows -- earns a researcher $40,000. Finally, Google will pay 
$20,000 for "consolation" exploits that hack Chrome without using any 
vulnerabilities in the browser itself.

The only limit Google has put on the challenge is a maximum total payout of $1 
million. "We will issue multiple rewards per category, up to the $1 million 
limit, on a first-come-first served basis,"
**excerpt end**

So in reality they may pay out as little as $20K, or nothing at all.  Offering 
$1-million simply ensures more publicity.  However it also ensures that some 
serious bug hunters will compete for those prize payouts.

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