FREDERICK, Md. — A Maryland real estate firm with offices in Frederick, Fulton, Glen Bernie, Windsor Mill and Baltimore is celebrating the theme of giving this holiday season, and it doesn't come at a small price.
The company surprised all of its employees with a cash bonus at its annual holiday party this year. St. John Properties said all of its 198 employees will share a $10 million bonus.
The company said on average, employees will receive about $50,000, which is based solely on the number of years of service
Some will receive upward of $250,000, reported CBS-affiliate KUTV..
The bonus was given in celebration of the company achieving its goal of developing 20 million sq. feet of office, retail and warehouse space in eight states, the company said on its website.
The company shared a video of the announcement being made at the party, with employees reacting in shock. According to St. John, only five employees knew about the bonus in advance of the surprise announcement.
"To celebrate the achievement of our goal, we wanted to reward our employees in a big way that would make a significant impact on their lives," company founder Edward St. John said. "I am thankful for every one of our employees, for their hard work and dedication. I couldn’t think of a better way to show it."
This bonus will be paid out in addition to the company’s annual year-end bonus.
"My philosophy has always been to surround myself with the best and the brightest – and that is what we have done," St. John said. "Every professional at St. John Properties is committed to excellence every day."