For background information, see https://msdn.microsoft.com/en-us/library/ms175575(v=sql.110).aspx
Step 1. make sure SQL Server Agent is set to Replace Tokens (Properties|Alert System), need to stop and re-start to take effect for the change.
Step 2. the tokenized codes cannot be parsed by SSMS, the values are replaced at runtime.
Step 3. I created a job with 2 steps: (1) back up the log when the log is 70% full, and (2) audit the log backup information in an auditing table.
---create the audit table----
CREATE TABLE MyJobLog (
 ServerName SYSNAME
 , Instance SYSNAME
 , JobId UNIQUEIDENTIFIER
 , ErrorNumber INT
 , ErrorSeverity INT
 , ErrorDate DATETIME DEFAULT GETDATE()
 , ErrorMessage NVARCHAR(MAX)
)
GO
---Insert the following code with tokens for job step 2------
INSERT MyJobLog (
 ServerName
 , Instance
 , JobId
 , ErrorNumber
 , ErrorSeverity
 , ErrorMessage
 ,ErrorDate
)
VALUES (
 '$(ESCAPE_SQUOTE(A-SVR))'
 , '$(ESCAPE_SQUOTE(INST))'
 , $(ESCAPE_SQUOTE(JOBID))
 , $(ESCAPE_SQUOTE(A-ERR))
 ,  $(ESCAPE_SQUOTE(A-SEV))
 , '$(ESCAPE_SQUOTE(A-MSG))'
 , '$(ESCAPE_SQUOTE(DATE))'
)
---Use the following code to increase the log and make sure the log backup occurs when the performance condition is met-------
DBCC SQLPERF('LOGSPACE')
WHILE 1=1
 INSERT DBO.BIGTABLE VALUES('1')
---check the job history, it should have two steps succeed--------
 
