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A stock bonus plan is a type of retirement plan designed to increase employees' vested interest in a company's success. A stock bonus plan is a type of profit-sharing plan paid in employer stock instead of cash.
An employee stock ownership plan (ESOP) is an IRC section 401(a) qualified defined contribution plan that is a stock bonus plan or a stock bonus/money purchase plan.
The key difference between a bonus and profit sharing is that there must be profit before any is shared with the employee. As payment under a profit sharing plan, employees can be given stocks or bonds, or cash (cash profit sharing plan).
One of the major benefits of a cash bonus, as opposed to a stock bonus, is the avoidance of stock market risk that you incur when being compensated with company stock. This risk is also compounded if you already own a concentrated equity position of your employer's stock.
An employee bonus plan provides compensation beyond annual salary to employees as an incentive or reward for reaching certain predetermined individual or team goals. The purpose of bonus plans is to provide recognition for employees who go above and beyond normal work obligations.