A bonus award in the form of paid leave may not exceed five working days in aggregate over a calendar year. 4. 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. Amount: Enter the gross amount of the Bonus to be paid. Annual Bonuses: Paid out in the first quarter of the following fiscal year. This timing allows for a comprehensive review of the previous year's performance. Discover the difference between job postings and job descriptions and review our job posting templates and examples.