The deal is for the $10.99 per month plan, which includes streaming to two screens at a time (sorry 4K users). According to the terms, it appears as though if you are already a Netflix subscriber, you can apply the offer to your existing account, even if you have a different plan than the one stated above. Basically, Google is giving users $65.94 in Netflix credit, and you can use it any way you like, except as applied towards gift subscriptions.

To get your free Netflix, you can visit the Chromebook offer site and hit "Redeem" from the eligible machine. There are also some other interesting deals to take advantage of, including a $20 Google Play credit for Samsung Plus or Pro owners.