Medivation, Inc. 2010 Executive Bonus Plan Summary
Medivation, Inc. established a 2010 Bonus Plan to reward its executive officers based on the achievement of specific corporate performance objectives for the 2010 fiscal year. The Compensation Committee determines target bonuses, ranging from 50% to 65% of each executive's base salary, depending on their role. Bonus amounts depend on meeting objectives related to clinical, regulatory, scientific, and financial milestones. The Board and Compensation Committee may adjust goals or grant bonuses at their discretion, even if objectives are not fully met.
Exhibit 10.2
2010 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 2010 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 2010 fiscal year, as well as the executive officers’ contributions toward the achievement of those performance objectives.
Determination of 2010 Cash Bonuses:
Target bonuses for the Company’s named executive officers under the Plan will range from 50% to 65% of such executive’s 2010 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 2010 corporate performance objectives approved by the Compensation Committee, which include objectives relating to clinical trial, regulatory, scientific, and research and development activities and milestones, and objectives relating to satisfactory financial audit results. 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 2010 fiscal year are as follows:
| Executive Officer | Target Bonus (as a percent of FY 2010 Base Salary) | ||
| David Hung, M.D. | 65 | % | |
| Lynn Seely, M.D. | 50 | % | |
| C. Patrick Machado | 50 | % | |
| Rohan Palekar | 50 | % |
