You can employ a bonus letter template to formally recognize and reward an employee's outstanding performance or the achievement of specific, measurable goals. A bonus plan is an agreement between the employer and employee to pay out a predetermined amount of money based on performance.Download Michigan Business Proposal template, modify and send for signing using BoloForms Signature. SECTION 1 - EMPLOYMENT INFORMATION (To Be Completed By Employer). Employment Status. Occupation. Determine appropriate compensation package, based on the local compensation philosophy, to be presented to preferred candidate in the extension of an offer. Download Michigan Business Proposal template, modify and send for signing using BoloForms Signature. However, to craft this, it needs an appropriate bonus announcement letter format. Documented in the Michigan Statewide Transition Plan.