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The holiday bonus is a time honored tradition. Though it's been beautifully lampooned in films like Christmas Vacation, it's something a lot of people look forward to every year. It's a chance for companies that have done well to reward employees for their hard work and motivate them to keep it up in the coming year.

Traditionally, though, holiday bonuses are not guaranteed by any stretch — and they're often modest. Indeed writes that a typical holiday bonus is around 5-10% of your salary. Great to have, but not typically life-changing money.

Recently, a company called St. John Properties decided to celebrate a big milestone by majorly upping the ante with its holiday bonuses. And they caught the amazing moment on camera.

A holiday party to remember. Photo by krakenimages on Unsplash

Per a press release, the commercial real estate firm had just completed its goal of developing 20 million square feet of space across eight states, so the boss wanted to express his gratitude to his employees in the most unique and special way. He decided to share an impactful form of gratitude to honor his employees and surprise them with something wonderful.

Edward St. John, founder of St. John Properties, decided to pay a $10 million bonus to his 198 employees. Better yet, he decided to announce the bonuses while everyone was gathered together at the annual Christmas party.

As employees mingled, sipped drinks, and munched on d'oeuvres, St. John took the stage and spoke into the mic. As he talked, assistants handed out mysterious red envelopes to all the workers in attendance.

St. John shared how the performance of his dear employees had been crucial in achieving the company's goal, as per a video uploaded by the company on YouTube.

"Everybody is important in this company," he said. "And you're all participating in a bonus."

The crowd knew the evening was going to hold a "surprise," but only a small handful of them knew about the impromptu bonus. And they certainly didn't realize how big the amount was going to be.

St. John announced that the employees would all be splitting a $10 million bonus, divided up by number of years with the company, and invited them to open their envelopes. Cameras were on hand to capture the reactions.

- YouTube www.youtube.com

With jaw-dropping reactions, tears, laughter, gasps and more echoing throughout the room, every employee was overjoyed.

The company stated that the bonuses ranged from $100 to a staggering $270,000 for the longest tenured employees. The average person received $50,000 that evening. The New York Post reports that the average American considers roughly $20,000 to be "life-changing." Over half of people surveyed said they would put that kind of money directly into savings to ensure a better retirement. Others would use it for a frivolous vacation or to pay off debts. In any case, that kind of money can improve many areas of a person's life.

“I was blown away when this happened,” one of the employees said.

Another added, “What happened tonight was magical. It is life-changing.”

One more chimed in, “I’m very excited, I’ve been here a long time, he didn’t have to do what he did.”

Addressing his idea behind this prestigious gift, St. John said, “To celebrate the achievement of our goal, we wanted to reward our employees in a big way that would make a significant impact in their lives. 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.”

The post on Instagram captured the impromptu reaction of a few other employees when the news was announced. While some were left astonished, others were fighting back tears. St. John made the evening extra special by saying, “I steer the boat but they're the ones that run the boat. They're the ones that make the boat go. Without the teams we are nothing, we are absolutely nothing.”

Speaking about his love and respect for his employees in his company and his life, the founder said, “My philosophy has always been to surround myself with the best and the brightest – and that is what we have done. Every professional at St. John Properties is committed to excellence every day.”

The bonus was given to employees in addition to their annual year-end bonus and several other benefits so that they could truly have a very merry Christmas.

In a time where CEO and executive pay has skyrocketed while worker wages remain relatively stagnant, the gesture was beautiful to behold.

This article originally appeared last year. It has been updated.