[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Job Title] [Company Name] [Company Address] [City, State, ZIP] Subject: Cancellation of Bonus Dear [Recipient's Name], I hope this letter finds you well. I am writing to inform you of my decision to cancel my bonus for the fiscal year [Year]. I have carefully considered my financial situation and personal goals, and I believe that it would be in my best interest to forgo the bonus this year. While I greatly appreciate your recognition of my hard work and dedication to the company, I have chosen to prioritize other financial commitments and investments at this time. I would like to take this opportunity to express my gratitude for the company's continuous support and the opportunities provided to me. I have always been proud to be a part of this organization and the dynamic team we have. It is with mixed emotions that I am making this decision, as I understand the importance of bonuses in recognizing employees' contributions. I assure you that this decision was not taken lightly and was the result of careful consideration. I am confident that it will not affect my motivation, dedication, or commitment to the company and its goals. Furthermore, I remain devoted to contributing to the team's success and look forward to further opportunities for growth and development. If there are any necessary arrangements or paperwork required for the cancellation process, please let me know, and I will gladly assist in completing them promptly. I trust in the company's understanding and support in this matter and appreciate your attention to it. Once again, please accept my sincerest gratitude for the recognition and trust you have placed in me throughout my tenure at [Company Name]. I am grateful for the invaluable experience and professional growth that I have gained during my time here. Please do not hesitate to reach out to me if you have any further questions or require additional information. Thank you for your kind attention to this matter. Yours sincerely, [Your Name]