If the bonus day is selected it must be taken anytime within the next 13 pay periods. Sick Leave is considered any call-in e.The purpose of this job aid is to provide instructions to managers on submitting a request for a Bonus. This employee bonus policy template is ready to be tailored to your company's needs and can be a starting point for setting up your employment policies. Learn everything you need to know about bonuses: their types, advantages and disadvantages, calculation methods, and more. What is a Bonus Plan? A bonus plan is an agreement between the employer and employee to pay out a predetermined amount of money based on performance. An incentive bonus agreement is a contract between an employer and employee that details information about a cash bonus offered as an incentive. In this article, we examine several performance bonus examples that you can easily implement in your compensation plan today. Form to apply for Advanced Degree Pay: Advanced Degree Application.