I'm an AT&T employee, can confirm this offer is valid.
LG G Pad 7.0 tablet
2 year contract required: Yes
Activation fee: Yes, $40 on next bill
Monthly increase: $10/month for Mobile Share Value plans (shared existing bucket of data), $20-$50/month for old-school nationwide talk plans depending on how much data you want for the tablet.
Regular retail price: $250
Current Phones: AT&T LG G3, Nexus 5 Unlocked
Previous Phones: Sprint LG Optimus G, Verizon Galaxy Nexus, Sprint Samsung GS2, Verizon DROID Incredible
Current Tablets: Nexus 7 (2013), iPad Mini w/ Retina Display
Previous Tablets: Nexus 7 (2012), Kindle Fire HD