[mateo411]

Have a team meeting. Tell everyone what they did, how their efforts and contributions helped deliver the MVP, and give them a spot bonus. The spot bonus doesn't have to be large, I would say 100 to 500 dollars. The recognition and the bonus will boost their morale and make them happier employees.

[rahimnathwani]

For that size of bonus, it's nice to work out the net amount after tax, and hand the employee cash. e.g. if you want to give a 500USD spot bonus, then gross it up to 800 or whatever pre-tax, and hand them 500USD cash in an envelope.