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 compensation letter is a formal business document that managers and HR personnel use for a variety of different situations.Use this email template to announce performance bonuses to your employees. 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. This fact sheet provides general information regarding bonuses and the regular rate of pay under the FLSA for non-exempt employees. Use our Employment Contract to hire an employee for your business, and define details like wages and working hours.