Exhibit 10.21

2011 Bonus Plan

Purpose:

The Compensation Committee (the “Compensation Committee”) of the Board of Directors (the “Board”) of Medivation, Inc. (the “Company”) has established the terms of the 2011 Bonus Plan (the “Plan”) to compensate the executive officers of the Company for the level of achievement of corporate performance objectives set forth by the Compensation Committee for the 2011 fiscal year, as well as the executive officers’ contributions toward the achievement of those performance objectives.

Determination of 2011 Cash Bonuses:

Target bonuses for the Company’s named executive officers under the Plan will range from 50% to 65% of such executive’s 2011 base salary. The amount of cash bonuses, if any, for each named executive officer will be based on the named executive officer and the Company meeting the 2011 corporate performance objectives approved by the Compensation Committee, which include objectives relating to clinical trial, regulatory and research and development activities and milestones, as well as objectives relating to the Company’s intellectual property. The Board and Compensation Committee reserve the right to modify these goals and criteria at any time or to grant bonuses to the participants even if the performance goals are not met. The target bonuses for the Company’s named executive officers for the 2011 fiscal year are as follows: