1: βραβεῖον
(Strong's #1017 — Noun Neuter — brabeion — brab-i'-on )

"a prize bestowed in connection with the games" (akin to brabeus, "an umpire," and brabeuo, "to decide, arbitrate," "rule," Colossians 3:15 ), 1—Corinthians 9:24 , is used metaphorically of "the reward" to be obtained hereafter by the faithful believer, Philippians 3:14; the preposition eis, "unto," indicates the position of the goal. The "prize" is not "the high calling," but will be bestowed in virtue of, and relation to, it, the heavenly calling, Hebrews 3:1 , which belongs to all believers and directs their minds and aspirations heavenward; for the "prize" see especially 2—Timothy 4:7,8 .

2: ἁρπαγμός
(Strong's #725 — Noun Masculine — harpagmos — har-pag-mos' )

akin to harpazo, "to seize, carry off by force," is found in Philippians 2:6 , "(counted it not) a prize," RV (marg., "a thing to be grasped"), AV, "(thought it not) robbery;" it may have two meanings, (a) in the Active sense, "the act of seizing, robbery," a meaning in accordance with a rule connected with its formation; (b) in the Passive sense, "a thing held as a prize." The subject is capably treated by Gifford in "The Incarnation," pp. 28,36, from which the following is quoted:

Colossians 2:18BEGUILE