A performance bonus is a monetary reward given to employees beyond their regular salary, contingent upon achieving certain predetermined goals or benchmarks. Download this Annual Company Bonus Letter that helps you complete all the formalities and add details of the deserving candidate to ease this process.This 2025 Employee Benefits Guide includes important information and updates about these City of Phoenix employee benefits. An incentive bonus agreement is a contract between an employer and employee that details information about a cash bonus offered as an incentive. 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. 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. Qualify: 7 yrs continuous service. 1 yr at top step in pay range. Join our dynamic team at Phoenix Children's and make a difference in the lives of ACHD patients.