Are Richter-magnitude 10 earthquakes possible?
Adding a little bit of practical data to the above answer about the Gutenberg-Richter relationship, here is a plot of the per-year cumulative probability of earthquakes in a particular province in Japan, based on observed frequencies over many hundreds of years:



Source: http://topo.earth.chiba-u.jp/afr/backnumber/no24/24%E5%8F%B702kumamoto.pdf

The relationship is plausibly log-linear (in accordance with G-R); if you accept that the relationship will hold up to higher magnitudes, you would estimate the probability of a M10 event in this location at once every 30,000 years. 

To get an estimate for "anywhere in the world" you would need the cumulative data for all. A good place to start is the USGS website - they have a handy table with data since 1900.

Taking these data and plotting them on a log-linear graph, then extrapolating a linear fit, gives the following chart:



This is rather scary because it suggests that there is about a 1:100 chance of a M10 earthquake anywhere in the world, in any given year. Note that I plotted the data for magnitude x to x.9 at the location of x - which tends to underestimate things a little bit. Note also that at the extreme end of very large earthquakes (8 and above), the data looks like it might be deviating from the straight line - but there are not enough data points to draw any firm conclusions about the shape.

There are several other caveats. First - the assumption that the model can be extrapolated can be challenged: a particular fault may not be constructed in such a way as to store the energy required for an M10 event, as it will always release the energy before it gets there (and there may be a "stress shadow" effect, which says that after a big earthquake, the chance of another big one is temporarily reduced because stresses have been relieved; this is why this model can only be used "over a long period", and does not accurately reflect the risk of earthquake in the next five years).

Still - one percent.