The FAQ seems to indicate it may be possible, given the conditions are:
The offers only apply to you if: You successfully registered on Monday, December 1, from 11 a.m.-5 p.m. CT, or while supplies last. If you use a shipping address within the US. After receiving your promo code, you will have until Monday, December 15, 11:59 p.m. CT to redeem. (https://motorola-global-portal.custhelp.com/app/answers/prod_answer_detail/a_id/102785)
I note though the discount off the phone (if not on contract) is only for the 16GB model: "The promo code gets you $140 off the regular price of a 16 GB Moto X without a contract or a starting price of $.01 for a 16 GB Moto X with Verizon Wireless contract; and 30% off any accessory with a Moto X". (Later it states "With a valid code you can purchase a 16GB or 32GB on-contract Verizon Moto X for a penny" which is not use to us!).
As a big Spotify user, 16GB's just too small for me withouth the ability to use an SD card...
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