Document:

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                                                                  EXHIBIT 10.8.4

                 FIRST AMENDMENT TO THE STILWELL FINANCIAL INC.
                       1998 LONG TERM INCENTIVE STOCK PLAN
              (AS AMENDED AND RESTATED EFFECTIVE AS OF MAY 1, 2001)

         WHEREAS, Janus Capital Group, Inc. (the "Company") is the successor to
the Stilwell Financial Inc. 1998 Long Term Incentive Stock Plan (as amended and
restated effective as of May 1, 2001) (the "Plan") and wishes to amend the Plan
as set forth below.

         NOW THEREFORE, pursuant to Section 15.1 of the Plan, the Plan is hereby
amended as set forth below, in each case effective as of the date set forth
below:

                  1. Effective as of the date hereof, Section 1.1 of the Plan is
hereby amended by substituting "Janus Capital Group Inc." for "Stilwell
Financial Inc." in the first sentence thereof.

                  2. Effective as of and subject to the receipt of the approval
of the Company's shareholders for purposes of Section 162(m) of the Internal
Revenue Code of 1986, as amended, Section 18.7 of the Plan is hereby amended by
deleting clauses (a) through (k) and the first full paragraph after clause (k)
of such Section and adding the following in place thereof:

                  (a)  stock price;

                  (b)  market share;

                  (c)  sales (gross or net);

                  (d)  asset quality;

                  (e)  non-performing assets;

                  (f)  earnings per share;

                  (g)  return on equity;

                  (h)  costs;

                  (i)  operating income;

                  (j)  net income;

                  (k)  marketing-spending efficiency;

                  (l)  return on operating assets;

                  (m)  return on assets;

                  (n)  core non-interest income;

                  (o)  fund performance

                  (p)  pre-tax margin

                  (q)  pre-tax income; and/or

                  (r)  levels of cost savings.

                           Any of the foregoing performance measures may be
         applied, as determined by the Committee, in respect of the Company or
         any of its subsidiaries, affiliates, business units or divisions and/or
         the Company's or any of its subsidiary's, affiliate's, business unit's
         or division's worldwide, regional or country specific operations (or
         any combination of the foregoing). Performance measures shall specify
         whether they are to be measured relative to budgeted or other internal
         goals, operations, performance or results of the Company and/or any of
         its subsidiaries, affiliates, business units or divisions, or relative
         to the

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         performance of one or more peer groups of the Company and/or any of its
         subsidiaries, affiliates, business units or divisions, with the
         composition of any such peer groups to be determined by the Committee
         at the time the performance measure is established. Performance
         measures may be stated in the alternative or in combination. The
         Committee shall have the right but not the obligation to make
         adjustments to a performance measure to take into account any unusual
         or extraordinary events, to the extent not inconsistent with the
         requirements of the Performance-Based Exception.

         IN WITNESS WHEREOF, the First Amendment to the Plan has been adopted on
this 12 day of March, 2003.

                              JANUS CAPITAL GROUP INC.

                              By: /s/ Loren M. Starr
                                  ---------------------------------------------
                              Name: Loren M. Starr
                              Title: Vice President and Chief Financial Officer<PAGE>
                                                                 EXHIBIT 10.13.4

                             FOURTH AMENDMENT TO THE
               STILWELL FINANCIAL INC. 401(k), PROFIT SHARING AND
                          EMPLOYEE STOCK OWNERSHIP PLAN

The Stilwell Financial Inc. 401(k), Profit Sharing and Employee Stock Ownership
Plan, as restated effective November 1, 2001, as previously amended, ("the
Plan") is hereby amended, effective January 1, 2003, unless otherwise noted;

1. Section 1.05 of the Plan is amended in its entirety to read as follows:

         1.05     COMPENSATION

                  Compensation means, for purposes of Employee pre-tax
                  contributions made under Section 3.01 and the matching
                  contribution made under Section 3.03, amounts paid to an
                  Eligible Employee by a Participating Employer as "Regular Pay"
                  (defined below), and, for purposes of other contributions made
                  under Article 3, amounts paid to an Eligible Employee by a
                  Participating Employer as "Wages" (defined below). For any
                  Plan Year, only the amounts paid to the Eligible Employee
                  during the Plan Year and while the individual is an Eligible
                  Employee under the Plan shall be taken into account, such
                  that, for example, no amount paid to the Participant following
                  termination of his or her employment with a Participating
                  Employer shall be taken into account as Compensation.
                  Notwithstanding anything in this definition to the contrary,
                  in each Plan Year and for each Eligible Employee, no amount in
                  excess of the applicable limitation under Code Section
                  401(a)(17) may be considered Compensation. For the Plan Year
                  commencing January 1, 2003, this limitation is $200,000.

                  For purposes of determining Compensation of a Self-Employed
                  Individual, (i) "Regular Pay" means each guaranteed payment
                  from the Participating Employer representing base
                  compensation, bonus (other than a retention bonus) or
                  commissions, provided such amounts are attributable to the
                  Plan Year, and provided further that such amounts are received
                  by the Self-Employed Individual within 15 days of the close of
                  the Plan Year, and (ii) an amount attributable to Compensation
                  for a Plan Year and paid within 15 days of the close of the
                  Plan Year shall be treated as paid on the last day of the Plan
                  Year. Otherwise, Regular Pay is any amount paid to the
                  Eligible Employee as base salary, bonus (other than a
                  retention bonus), overtime or commissions.

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                  For purposes of determining Compensation of a Self-Employed
                  Individual for a Plan Year, "Wages" is the individual's net
                  earnings from self-employment in the trade or business of the
                  Participating Employer for which his or her personal services
                  to the Participating Employer are a material income-producing
                  factor, determined without regard to items not included in
                  gross income and the deductions allowable to such items and
                  the deduction allowed to the taxpayer under Code Section
                  164(f), and reduced by contributions to a qualified plan
                  deductible under Code Section 404. Otherwise, Wages means
                  wages as defined in Code Section 3401(a) for purposes of
                  income tax withholding at the source, plus all other payments
                  of compensation reportable under Code Sections 6041(d),
                  6051(a)(3) and 6052 and the regulations issued thereunder, but
                  determined without regard to any rules that limit the
                  remuneration included in wages based on the nature or location
                  of the employment or the services performed (such as the
                  exception for agricultural labor in Code Section 3401(a)(2)).
                  Notwithstanding the foregoing, Wages (i) shall include any
                  amounts contributed by the Participating Employer on behalf of
                  the Eligible Employee, pursuant to a salary reduction
                  agreement which are not included in gross income of the
                  Employee or Self-Employed Individual due to Code Section 125,
                  132(f)(4), 402(e)(3), 402(h), 402(k), 403(b) or 457(b), and
                  (ii) shall exclude the following amounts that otherwise would
                  constitute wages: reimbursements or other expense allowances,
                  fringe benefits (cash or noncash), moving expenses, deferred
                  compensation, welfare benefits, option exercise income and
                  income realized pursuant to vesting under Code Section 83.

                  Notwithstanding the foregoing provisions of this Section 1.05,
                  the terms Compensation, Regular Pay and Wages means W-2 Wages
                  for a Participant who is affected by the partial termination
                  of the Plan due to the merger and reorganization of Stilwell
                  Financial Inc., Janus Capital Corporation, Stilwell
                  Management, Inc. and Berger Financial Group, as publicly
                  announced September 3, 2002, (the "Merger and
                  Reorganization"). For purposes of the Section 1.05, a
                  Participant shall be considered affected by the Merger and
                  Reorganization if such Participant's employment with an
                  Employer ceases as a result of and as part of the Merger and
                  Reorganization as determined in the sole discretion of the
                  Employer; provided however that any Participant whose Expected
                  Last Day of Employment was established by September 30, 2002,
                  shall be considered affected by the Merger and Reorganization.
                  For purposes of this section, Expected Last Day of Employment
                  means the date communicated by an Employer in writing to the
                  Participant as the Participant's last day of employment. A
                  Participant shall not be considered affected by the Merger and
                  Reorganization if the Participant's employment with an
                  Employer is terminated by an Employer for cause.

                  W-2 Wages means wages for federal income tax withholding
                  purposes as defined in Code Section 3401(a), but determined
                  without regard to any rules that limit the remuneration
                  included in wages under this definition based on the nature or
                  location

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                  of the employment or the services performed. The Plan
                  Administrator may treat the amount reported as "wages, tips,
                  and compensation" on Form W-2 as satisfying this definition.
                  Notwithstanding the foregoing, Compensation includes any
                  amounts contributed by the Employer on behalf of any Employee
                  pursuant to a salary reduction agreement which are not
                  includable in gross income of the Employee due to Code
                  Sections125, 402(e)(3), 402(h), 403(b) or 457.

2. Section 1.08 is amended by adding to the end thereof a new paragraph to read
as follows:

         The term "Eligible Employee" means any Employee in an Eligible Employee
         Classification.

3. Section 1.26 of the Plan is amended by deleting the first paragraph of
Section 1.26 and replacing it with a new first paragraph as follows:

         The terms Plan, Plan and Trust, and Trust mean the Janus 401(k), Profit
         Sharing and Employee Stock Ownership Plan. The Plan Identification
         Number is 001. Pursuant to Code Section 401(a)(27), the Plan is
         designated a profit sharing plan, and pursuant to Code Section
         401(a)(23), a stock bonus plan. Furthermore, the Plan includes
         provisions within the meaning of Code Sections 401(k) and 401(m).

4. Section 1.28 of the Plan is amended by deleting the first paragraph of
Section 1.28 and replacing it with a new first paragraph as follows:

         Janus Capital Group Inc. is the Plan Sponsor.

5. Section 10.03(c) (relating to compensation for purposes of limitations on
contributions) is amended in its entirety to read as follows:

         Compensation means, as selected by the Plan Administrator in its
         discretion to apply for the Limitation Year in testing under this
         Article 10, any one of the following definitions of compensation
         received by an Employee for the Limitation Year from an Employer,
         modified as provided below:

         (1)      Compensation as defined in Treasury Regulation section
                  1.415-2(d) or any successor thereto;

         (2)      With respect to a Self-Employed Individual, net earnings from
                  self-employment in the trade or business of the Participating
                  Employer for which his or her personal services to the
                  Participating Employer are a material income-producing factor,
                  determined without regard to items not included in gross
                  income and the deductions allowable to such items and the
                  deduction allowed to the taxpayer under Code Section 164(f),
                  and reduced by contributions to a qualified plan deductible
                  under Code Section 404 (referred to as "Earned Income"), and,
                  with respect to any other Employee, "wages" as defined in Code
                  Section 3401(a) for purposes of

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                  income tax withholding at the source, but determined without
                  regard to any rules that limit the remuneration included in
                  wages based on the nature or location of the employment or the
                  services performed (such as the exception for agricultural
                  labor in Code Section 3401(a)(2)); or

         (3)      With respect to a Self-Employed Individual, Earned Income (as
                  defined above), and, with respect to any other Employee,
                  "wages" as defined in Code Section 3401(a) for purposes of
                  income tax withholding at the source, plus all other payments
                  of compensation reportable under Code Sections 6041(d),
                  6051(a)(3) and 6052 and the regulations issued thereunder, but
                  determined without regard to any rules that limit the
                  remuneration included in wages based on the nature or location
                  of the employment or the services performed (such as the
                  exception for agricultural labor in Code Section 3401(a)(2)),
                  and modified, at the election of the Plan Administrator, to
                  exclude amounts paid or reimbursed for the Employee's moving
                  expenses, to the extent it is reasonable to believe at the
                  time of payment or reimbursement that these amounts are
                  deductible by the Employee under Code Section 217.

         Notwithstanding any inconsistent result from use of a definition in
         paragraphs (1), (2) or (3) above, Compensation shall include any
         amounts contributed by the Participating Employer on behalf of the
         Employee, pursuant to a salary reduction agreement which are not
         included in gross income of the Employee or Self-Employed Individual
         due to Code Section 125, 132(f)(4), 402(e)(3), 402(h), 402(k), 403(b)
         or 457(b).

6. Section 11.01(b) (relating to compensation for purposes of discrimination
testing) is amended in its entirety to read as follows:

         Compensation means, as selected by the Plan Administrator at its
         discretion to apply for the Plan Year for testing under Article 11, any
         one of the following definitions of compensation received by an
         Employee from an Employer:

         (1)      Any definition of Compensation determined pursuant to Section
                  10.03(c), above, further modified to reflect a reduction for
                  all of the following items (even if included in gross income),
                  unless, the Plan Administration elects not to make any such
                  reduction: reimbursements or other expense allowances, fringe
                  benefits (cash and noncash), moving expenses, deferred
                  compensation and welfare benefits; or

         (2)      Any reasonable definition of compensation that does not by
                  design favor Highly Compensated Employees and that satisfies
                  the nondiscrimination requirement set forth in Treasury
                  Regulation section 1.414(s)-1(d)(3) or any successor thereto.

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         Compensation under this Section 11.01(b) may be limited only to such
         compensation paid to an Employee while an Eligible Employee during the
         Plan Year, and thus may exclude amounts paid during the Plan Year after
         the Participant has ceased to be an Employee. Any definition of
         Compensation used under this Article 11 shall be used consistently to
         define the compensation of all Employees taken into account in
         satisfying the requirements of an applicable provision under this
         Article 11.

         Compensation under this Article 11 in a Plan Year and for each Employee
         is limited to the compensation limitation amount under Code Section
         401(a)(17). For the Plan Year commencing January 1, 2003, this
         limitation is $200,000.

7. Except as amended above, the Plan shall remain in full force and effect.

IN WITNESS WHEREOF, the Employer, has caused this instrument to be executed as
of the date specified below.

                                JANUS CAPITAL GROUP INC.

Dated: March 25, 2003           By: /s/ Loren M. Starr
       ---------------              --------------------------------------------
                                Its:  Vice President and Chief Financial Officer
                                      ------------------------------------------

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