**Exhibit 10.1**

**JANUS CAPITALGROUP INC.**

**OUTSIDE DIRECTORCOMPENSATION PROGRAM**
| Annual Board cash retainer                                                                                                |   | $       | 100,000                    |   |
|---------------------------------------------------------------------------------------------------------------------------|--------|---------|----------------------------|--------|
|                                                                                                                      |   |    |                       |
| Annual Board stock retainer grant                                                                                         |   | $       | 100,000  immediate vesting |   |
|                                                                                                                      |   |    |                       |
| Annual Committee cash retainer (per Committee)                                                                            |   | $       | 10,000                     |   |
|                                                                                                                      |   |    |                       |
| Additional annual cash retainer for Audit Committee Chair                                                                 |   | $       | 25,000                     |   |
|                                                                                                                      |   |    |                       |
| Additional annual cash retainer for Compensation Committee Chair and  Nominating and Corporate Governance Committee Chair |   | $  | 15,000                     |   |
|                                                                                                                      |   |    |                       |
| Non-Executive Chairman: annual cash retainer (payable in equal  quarterly installments)                                   |   | $  | 250,000                    |   |
|                                                                                                                      |   |    |                       |
| Non-Executive Chairman: stock retainer grant                                                                              |   | $       | 470,000  immediate vesting |   |
|                                                                                                                      |   |    |                       |
| Board: one-time restricted stock grant upon joining                                                                       |   | $       | 100,000  3-year vesting    |   |
|                                                                                                                      |   |    |                       |
| Non-Executive Chairman: one-time stock option grant upon appointment                                                      |   | $  | 300,000  3-year vesting    |   |

 

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Notes:

1.                 TheDirector Compensation Program eliminated Board and Committee fees forparticipating in meetings.

2.                 Inthe event of extraordinary circumstances that require a material increase inthe number of Committee and/or Board meetings, the Board may reinstate meetingfees or adjust the annual retainer amounts as deemed appropriate by the Board.

3.                 Allcompensation may be deferred at the election of a director under the Company’sDirectors Deferred Fee Plan.  Equityawards are deferred in the form of restricted stock units.

4.                 Allamounts are subject to proration if director joins after commencement ofdirectors’ fiscal year (fiscal year begins on date of Annual ShareholdersMeeting).

5.                 Theadditional $470,000 stock retainer is for fiscal year 2007-2008, and may beadjusted, reduced or eliminated based on the Compensation Committee’s andBoards’ annual evaluation.

 

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