The CEO of Bollinger Insurance Solutions recently invested his $500,000 contractual bonus in an interesting way: he divided it among his firm’s employees.

John A. Windolf

John A. Windolf, head of the Short Hills, N.J., company, used his own pay to give $1,000 bonuses to each of the company’s 434 employees, according to the Cherry Hill Courier Post.

Windolf told the paper that the idea occurred to him last year, when he orchestrated the sale of 51% of the company to another firm. Part of that deal, he said, included receiving $500,000 in deferred compensation and Windolf put in a provision to the contract that rather than accepting the money, he would give it to every one of his firm’s employees.

“We called it the Bolllinger Mini Stimulus package,” Windolf told the Courier Post.

Employees received their bonuses on St. Patrick’s Day and told the paper they plan to use them for everything from home improvements to assisting with college tuition.