"Rewarding friendly hackers who contribute to a more secure internet."

[Mordred]

How it works

We've selected some of the most important software that supports the internet stack, and we want you to hack it. If the public is demonstrably safer as a result of your contribution to internet security, we'd like to be the first to recognize your work and say "thanks" by sending some cash to you or your favorite non-profit.

The Panel

The Internet Bug Bounty is managed by a panel of volunteers selected from the security community. These security experts are responsible for defining the rules of the program, allocating bounties to where additional security research is needed most, and mediating any disagreements that might arise.

 Bounty Payments and Public Recognition

You'll be eligible to receive a bounty and we'll give you public recognition for your find if 1) you are the first person to file a Bug Report for a particular vulnerability, 2) the vulnerability is confirmed to be a valid security issue, and 3) you have complied with these guidelines. The amount of each bounty payment will be determined by the Response Team. If there is no Response Team for a particular project, an independent Panel will set the bounty. The Panel is also available to mediate disagreements between the Researcher and the Response Team, if it ever becomes necessary.
All payments will be made in U.S. dollars (USD) and will comply with local laws, regulations and ethics rules. You are responsible for the tax consequences of any bounty you receive, as determined by the laws of your country.
It is your sole responsibility to comply with any policies your employer may have that would affect your eligibility to participate in this bounty program.
 

Source: HackerOne.com