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                                                                 Exhibit 4(dddd)

                                  AMENDMENT TO

                               JANUS ASPEN SERIES

                          INVESTMENT ADVISORY AGREEMENT

                           RISK-MANAGED CORE PORTFOLIO

      THIS AMENDMENT is made this 1st day of May, 2006, between JANUS ASPEN
SERIES, a Delaware statutory trust (the "Trust"), and JANUS CAPITAL MANAGEMENT
LLC, a Delaware limited liability company ("JCM").

                               W I T N E S S E T H

      WHEREAS, the Trust and JCM are parties to an Investment Advisory Agreement
on behalf of Risk-Managed Core Portfolio (the "Portfolio"), dated July 1, 2004,
as amended January 1, 2006 (the "Agreement");

      WHEREAS, the parties desire to amend the Agreement as set forth in greater
detail below;

      WHEREAS, pursuant to Section 11 of the Agreement, any amendment to the
Agreement is subject to approval (i) by a majority of the Trustees, including a
majority of the Trustees who are not interested persons (as that phrase is
defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended
(the "1940 Act")) of any party to the Agreement and, if required by applicable
law, (ii) by the affirmative vote of a majority of the outstanding voting
securities of the Portfolio (as that phrase is defined in Section 2(a)(42) of
the 1940 Act);

      WHEREAS, the parties have obtained Trustee approval as set forth above,
and the parties agree that a shareholder vote is not required to amend the
Agreement; and

      WHEREAS, the name of Risk-Managed Core Portfolio has been changed to Janus
Aspen INTECH Risk-Managed Core Portfolio;

      NOW, THEREFORE, in consideration of the premises and of the mutual
agreements set forth below, the parties agree to amend the Agreement as follows:

      1. All references to "Risk-Managed Core Portfolio" shall be replaced with
"Janus Aspen INTECH Risk-Managed Core Portfolio."

      2. The parties acknowledge that the Agreement, as amended, remains in full
force and effect as of the date of this Amendment, and that this Amendment,
together with the Agreement and any prior amendments, contains the entire
understanding and the full and

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complete agreement of the parties and supercedes and replaces any prior
understandings and agreements among the parties respecting the subject matter
hereof.

      3. This Amendment may be contemporaneously executed in two or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

      IN WITNESS WHEREOF, the parties have caused their duly authorized officers
to execute this Amendment as of the date first above written.

                                    JANUS CAPITAL MANAGEMENT LLC

                                    By: /s/  David R. Martin
                                        -----------------------------------
                                        David R. Martin
                                        Executive Vice President and
                                        Chief Financial Officer

                                    JANUS ASPEN SERIES

                                    By: /s/ Stephanie Grauerholz-Lofton
                                        -----------------------------------
                                        Stephanie Grauerholz-Lofton
                                        Vice President and Secretary<PAGE>

                                                                 Exhibit 4(eeee)

                                  AMENDMENT TO

                               JANUS ASPEN SERIES

                          INVESTMENT ADVISORY AGREEMENT

                          RISK-MANAGED GROWTH PORTFOLIO

      THIS AMENDMENT is made this 1st day of May, 2006, between JANUS ASPEN
SERIES, a Delaware statutory trust (the "Trust"), and JANUS CAPITAL MANAGEMENT
LLC, a Delaware limited liability company ("JCM").

                               W I T N E S S E T H

      WHEREAS, the Trust and JCM are parties to an Investment Advisory Agreement
on behalf of Risk-Managed Growth Portfolio (the "Portfolio"), dated July 1, 2004
(the "Agreement");

      WHEREAS, the parties desire to amend the Agreement as set forth in greater
detail below;

      WHEREAS, pursuant to Section 11 of the Agreement, any amendment to the
Agreement is subject to approval (i) by a majority of the Trustees, including a
majority of the Trustees who are not interested persons (as that phrase is
defined in Section 2(a)(19) of the Investment Company Act of 1940, as amended
(the "1940 Act")) of any party to the Agreement and, if required by applicable
law, (ii) by the affirmative vote of a majority of the outstanding voting
securities of the Portfolio (as that phrase is defined in Section 2(a)(42) of
the 1940 Act);

      WHEREAS, the parties have obtained Trustee approval as set forth above,
and the parties agree that a shareholder vote is not required to amend the
Agreement; and

      WHEREAS, the name of Risk-Managed Growth Portfolio has been changed to
Janus Aspen INTECH Risk-Managed Growth Portfolio;

      NOW, THEREFORE, in consideration of the premises and of the mutual
agreements set forth below, the parties agree to amend the Agreement as follows:

      1. All references to "Risk-Managed Growth Portfolio" shall be replaced
with "Janus Aspen INTECH Risk-Managed Growth Portfolio."

      2. The parties acknowledge that the Agreement, as amended, remains in full
force and effect as of the date of this Amendment, and that this Amendment,
together with the Agreement and any prior amendments, contains the entire
understanding and the full and

<PAGE>

complete agreement of the parties and supercedes and replaces any prior
understandings and agreements among the parties respecting the subject matter
hereof.

      3. This Amendment may be contemporaneously executed in two or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

      IN WITNESS WHEREOF, the parties have caused their duly authorized officers
to execute this Amendment as of the date first above written.

                                     JANUS CAPITAL MANAGEMENT LLC

                                     By: /s/  David R. Martin
                                         ----------------------------------
                                         David R. Martin
                                         Executive Vice President and
                                         Chief Financial Officer

                                     JANUS ASPEN SERIES

                                     By: /s/ Stephanie Grauerholz-Lofton
                                         ----------------------------------
                                         Stephanie Grauerholz-Lofton
                                         Vice President and Secretary<PAGE>
                                                                 Exhibit 4(ffff)

                                  AMENDMENT TO

                               JANUS ASPEN SERIES

                        INVESTMENT SUB-ADVISORY AGREEMENT

                           RISK-MANAGED CORE PORTFOLIO

      THIS AMENDMENT is made this 1st day of May, 2006, between JANUS CAPITAL
MANAGEMENT LLC, a Delaware limited liability company ("Janus"), and ENHANCED
INVESTMENT TECHNOLOGIES, LLC, a Delaware limited liability company ("INTECH").

                               W I T N E S S E T H

      WHEREAS, Janus and INTECH are parties to an Investment Sub-Advisory
Agreement on behalf of Risk-Managed Core Portfolio (the "Portfolio"), a series
of Janus Aspen Series, a Delaware statutory trust (the "Trust"), dated July 1,
2004, and amended January 1, 2006 (the "Agreement");

      WHEREAS, the parties desire to amend the Agreement as set forth in greater
detail below;

      WHEREAS, pursuant to Section 11 of the Agreement, any amendment to the
Agreement is subject to approval by (i) a majority of the Trustees, including a
majority of the Trustees who are not interested persons (as that phrase is
defined in Section 2(a)(19) of the 1940 Act) of the Trust or Janus, INTECH or
their affiliates, and (ii) if required by applicable law, by the affirmative
vote of a majority of the outstanding voting securities of the Portfolio (as
that phrase is defined in Section 2(a)(42) of the 1940 Act);

      WHEREAS, the parties have obtained Trustee approval as set forth above,
and the parties agree that a shareholder vote is not required to amend the
Agreement; and

      WHEREAS, the name of Risk-Managed Core Portfolio has been changed to Janus
Aspen INTECH Risk-Managed Core Portfolio effective May 1, 2006;

      NOW, THEREFORE, in consideration of the premises and of the mutual
agreements set forth below, the parties agree to amend the Agreement as follows:

      1. All references to "Risk-Managed Core Portfolio" shall be replaced with
"Janus Aspen INTECH Risk-Managed Core Portfolio."

      2. The parties acknowledge that the Agreement, as amended, remains in full
force and effect as of the date of this Amendment, and that this Amendment,
together with the Agreement and any prior amendments, contains the entire
understanding and the full and

<PAGE>

complete agreement of the parties and supercedes and replaces any prior
understandings and agreements among the parties respecting the subject matter
hereof.

      3. This Amendment may be contemporaneously executed in two or more
counterparts, each of which shall be deemed an original but all of which
together shall constitute one and the same instrument.

      IN WITNESS WHEREOF, the parties have caused their duly authorized officers
to execute this Amendment as of the date first above written.

                       JANUS CAPITAL MANAGEMENT LLC

                       By:  /s/ David R. Martin
                            ----------------------------------------
                            David R. Martin

                             Executive Vice President and
                             Chief Financial Officer

                       ENHANCED INVESTMENT TECHNOLOGIES, LLC

                       By:  /s/ Andrew J. Iseman
                            ---------------------------------------
                       Name: Andrew J. Iseman
                       Title: Senior Vice President

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