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Exhibit 10.1    
    

 
 

JANUS CAPITAL GROUP INC.
  
    AMENDED AND RESTATED
  MUTUAL FUND SHARE INVESTMENT PLAN
  (Amended and restated as of January 22, 2008)    

        Janus
Capital Group Inc. has established the Janus Capital Group Inc. Mutual Fund Share Investment Plan for the purpose of aligning the interests of key personnel with
shareholder through the use of phantom investments in Janus retail mutual funds. 

Article 1. Definitions  

	1.1
	Administrator means the Committee or the person or persons designated by the Committee to administer the Plan.

	1.2
	Award means an amount payable in cash by the Company to a Participant as determined by the Administrator.

	1.3
	Board means the Board of Directors of the Company.

	1.4
	Code means the Internal Revenue Code of 1986, as amended, and any regulations or guidance issued there under.

	1.5
	A
Change in Control shall be deemed to have occurred if the event set forth in any one of the following paragraphs shall have occurred: 

        (a)   a
change in the composition of the Board such that the individuals who, as of the effective date of the this Agreement, constitute the Board (such Board shall be
hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided,  however, for purposes of
this definition, that any individual who becomes a member of the Board subsequent to the effective date hereof, whose election,
or nomination for election by the Company's shareholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent
Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but, provided
further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in
Rule 14a-11 of Regulation 14A promulgated under the Securities Exchange Act of 1934, as modified) or other actual or threatened solicitation of proxies or consents by or on
behalf of a Person other than the Board shall not be so considered as a member of the Incumbent Board; or 

        (b)   Consummation
of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the acquisition of the
assets or stock of another entity ("Business Combination"); excluding, however, such a Business Combination pursuant to which (1) all or substantially all of the individuals and 

 

entities
who are the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination will beneficially
own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting power of the then outstanding voting securities entitled to vote generally
in the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns
the Company or all or substantially all the Company's assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such
Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (2) no Person (other than the Company or any employee benefit plan
(or related trust) of the Company or the corporation resulting from such Business Combination) will beneficially own, directly or indirectly, 20% or more of, respectively, the outstanding shares of
common stock of the corporation resulting from such Business Combination or the combined voting power of the outstanding voting securities of such corporation entitled to vote generally in the
election of directors except to the extent that such ownership existed prior to the Business Combination; and (3) individuals who were members of the Incumbent Board will constitute at least a
majority of the members of the board of directors of the corporation resulting from such Business Combination; or 

        (c)   The
approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

Notwithstanding
the above, for each Award subject to Section 409A of the Code, a Change of Control shall be deemed to have occurred under this Plan with respect to such Award only if a change
in the ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company shall also be deemed to have occurred under Section 409A
of the Code. 

	1.6
	Company means Janus Capital Group Inc., a Delaware corporation, or any successor company.

	1.7
	Committee means the Compensation Committee of the Board, or a separate committee appointed by the Board to administer the Plan.

	1.8
	Disability shall mean that a Participant (i) is unable to engage in any substantial gainful activity by reason of any medically
determinable physical or mental impairment which an be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of
any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income
replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Company or a Subsidiary of the Company. 

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	1.9
	Eligible Employee means an employee or director of the Company or any Subsidiary that is eligible to participate in the Plan as
designated by the Committee or the Administrator.

	1.10
	Grant Date means the effective date on which the Committee grants the Award.

	1.11
	Mutual Fund Share Investment Account means the book-keeping entry account maintained by the Company for each Participant
that reflects such Participant's Award (including gains, losses and expenses) and adjustments thereto.

	1.12
	Participant means an Employee who has been selected by the Committee, in its sole discretion, to participate in the Plan.

	1.13
	Person shall have the meaning given in Section 3(a)(9) of the Securities Exchange Act of 1934, as modified and used in
Sections 13(d) and 14(d) thereof, except that such term shall not include (i) the Company (ii) a trustee or other fiduciary holding securities under an employee benefit plan of
the Company (iii) an underwriter temporarily holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the shareholders of
the Company in substantially the same proportions as their ownership of stock of the Company.

	1.14
	Plan means the Amended and Restated Janus Capital Group Inc. Mutual Fund Share Investment Plan, as may be amended from time to
time.

	1.15
	Retirement means, for any Participant who is a director or an employee of the Company or any Subsidiary, the Participant having both
attained age fifty-five (55) and completed at least ten (10) years of service with the Company or a Subsidiary.

	1.16
	Subsidiary means a United States or foreign corporation or limited liability company, partnership or other similar entity with respect
to which the Company owns, directly or indirectly, 50% or more of the Voting Power of such corporation, limited liability company, partnership or other similar entity

	1.17
	Termination of Affiliation means the occurrence of the first day on which an individual is for any reason no longer an employee,
director or consultant of the Company or any Subsidiary, or with respect to an individual who is an employee or director of, or consultant to, a corporation which is a Subsidiary, the first day on
which such corporation ceases to be a Subsidiary; provided, however, that for each Award subject to Section 409A of the Code a Termination of Affiliation shall be deemed to have occurred under
this Plan with respect to such Award on the first day on which an individual has experienced a "separation from service" within the meaning of Section 409A of the Code.

	1.18
	Valuation Date means the last business day of each month, or such other date specified by the Administrator. 

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	1.19
	Vested means a Participant has a nonforfeitable interest in a portion of his or her Mutual Fund Share Investment Account with respect
to an Award.

	1.20
	Voting Power means the combined voting power of the then-outstanding securities of a corporation entitled to vote
generally in the election of directors. 

Article 2. Eligibility  

	2.1
	Eligibility.    The Committee may grant Awards to any Eligible Employee, whether or not he or she has previously received an
Award.

	2.2
	Award Agreement.    To the extent not set forth in the Plan, the terms and conditions of each Award (which need not be the
same for each Award or for each Participant) shall be set forth in an Award Agreement. 

Article 3. Vesting  

	3.1
	Award Amount.    Except as set forth in Section 3.2 below, a Participant will become Vested with respect to amounts
credited to his or her Mutual Fund Share Investment Account in respect of an Award in accordance with the vesting schedule designated by the Committee and as set forth in the Award Agreement, provided
that the Participant is employed by the Company or any Subsidiary on such date.

	3.2
	Vesting Upon Certain Events.    The Participant will become fully and immediately Vested in all amounts credited to his or
her Mutual Fund Share Investment Account upon a Change in Control and upon reaching the age and service requirements of Retirement.

	3.3
	Section 409A Exception.    With respect to each Award that is subject to Section 409A of the Code, if a Change
in Control would have occurred under the Plan pursuant to the definition in Section 1.5 except that such Change in Control does not constitute a change in the ownership or effective control of
the Company or a change in the ownership of a substantial portion of the assets of the Company under Section 409A of the Code, then each such Award shall become vested and
non-forfeitable; provided, however, that the Award shall not become payable, except in accordance with the terms of such Award or until such earlier time as the exercise and/or payment
complies with Section 409A of the Code.

	3.4
	Forfeiture.    Except as otherwise set forth by the Committee or in the applicable Award Agreement, upon a Participant's
Termination of Affiliation for any reason, the portion of the Participant's Mutual Fund Share Investment Account which is not Vested as of the date of such termination shall be forfeited and shall
revert in its entirety to the Company. 

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Article 4. Phantom Investment of the Mutual Fund Share Investment Account.  

	4.1
	Crediting of Awards to Mutual Fund Share Investment Accounts.    A Participant's Award shall be credited to his or her Mutual
Fund Share Investment Account as soon as administratively practicable following the Grant Date.

	4.2
	Deemed Investment Fund Allocation.    Each Participant's Award shall be deemed invested in one of the phantom investment
options set forth in Section 4.3 below.

	4.3
	Phantom Investment Options.    The phantom investment options that are available under this Plan for a Participant's Mutual
Fund Share Investment Account shall be designated by the Committee and shall initially include all of those Janus mutual funds that are offered to participants under the Company's 401(k), Profit
Sharing and Employee Stock Ownership Plan, subject to applicable prospectus requirements. An amount transferred into one of these phantom investments is converted to phantom units of such phantom
investments by dividing such amount by the value of a unit in the applicable fund on the date as of which the amount is treated as invested in this phantom investment by the Administrator. Thereafter,
a Participant's interest in each such phantom investment is valued as of a Valuation Date by multiplying the number of phantom units credited to his or her Account on such date by the value of a unit
in the applicable fund on such date. In the event the Participant does not make an election, the Participant shall be deemed to have directed that the undesignated portion of the Mutual Fund Share
Investment Account be invested in a money market phantom investment option offered under the Plan (or if no money market investment option is offered, the investment option that most nearly resembles
a money market investment option).

	4.4
	Administrator Discretion.    The Administrator shall have the sole discretion to determine the phantom investment options
available under the Plan and may change, limit or eliminate an investment fund provided hereunder from time to time. If any phantom investment option ceases to be available under the Plan, the
Administrator shall have the authority to credit to any or all other then-available phantom investment options all amounts previously allocated to the terminated phantom investment option
(along with deemed earnings, gains and losses relating thereto).

	4.5
	Phantom Investment Options Directions.    In connection with a Participant's first deferral election form submitted under the
Plan, the Participant shall specify in one (1) percent increments how the amounts in his or her Mutual Fund Share Investment Account with respect to an Award are to be invested in one or more
of the phantom investment options offered under this section; provided however all elections under this Section 4.5 must meet the applicable prospectus requirements. Thereafter, the Participant
(i) may specify a different investment direction that shall apply to his or her future Awards, and (ii) may reallocate the investment of his or her Mutual Fund Share Investment Account
attributable to an outstanding Award by specifying, in one (1) percent increments, how such amounts are to be invested among the phantom investment options then offered 

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under
the Plan. The Administrator may provide that such initial allocations or reallocations are to be made in a different increment specified by the Administrator. A new investment direction for
future Awards and a reallocation of a Participant's Mutual Fund Share Investment Account attributable to outstanding Awards shall be made using the investment procedures that are provided by the
Administrator's delegate for this purpose. This procedure may include the use of written or electronic forms, as well as the use of a voice-response system, as determined by the Administrator's
delegate. 

	4.6
	Phantom Investment Options Reallocations.    Any investment reallocation of a Participant's Mutual Fund Share Investment
Account attributable to outstanding Awards shall be effective within five (5) business days after the date the investment reallocation is received by the Administrator's delegate. If more than
one reallocation is received on a timely basis, the reallocation that the Administrator's delegate determines to be the most recent shall be followed.

	4.7
	Direction and Reallocation Default Rules.    If the Administrator's delegate possesses at any time investment directions as
to the phantom investment of less than all of a Participant's Mutual Fund Share Investment Account, the Participant shall be deemed to have directed that the undesignated portion of the Mutual Fund
Share Investment Account be invested in a money market phantom investment option offered under the Plan (or if no money market investment option is offered, the investment option that most nearly
resembles a money market investment option).

	4.8
	Earnings or Losses.    As of each Valuation Date, a Participant's Mutual Fund Share Investment Account shall be credited with
earnings and gains (and shall be debited for expenses and losses) determined as if the amounts credited to his or her Mutual Fund Share Investment Account had actually been invested as directed by the
Participant in accordance with this article. The Plan provides only for "phantom investments," and therefore such earnings, gains, expenses and losses are hypothetical and not actual. However, they
shall be applied to measure the value of a Participant's Mutual Fund Share Investment Account and the amount of the Company's liability to make payments to or on behalf of the Participant. 

Article 5. Distributions  

	5.1
	General.    Except as otherwise determined by the Committee in its sole discretion in a manner compliant with
Section 409A of the Code, a Participant shall receive a lump sum cash distribution in respect of the Vested portion of his or her Mutual Fund Share Investment Account as soon as practicable
following the date such portion becomes Vested, but subject to the provisions of Section 5.3, in no case later than 21/2 months following the end of the taxable year in which
such portion becomes Vested.

	5.2
	Termination of Affiliation.    If the Committee determines in the Award Agreement or otherwise that any portion of a
Participant's Mutual Fund Share Investment Account shall 

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become
Vested upon a Participant's Termination of Affiliation, the portion of the Participant's Mutual Fund Share Investment Account which is Vested on Termination of Affiliation shall be distributed
as soon as practicable following the date of such Termination of Affiliation, but subject to the provisions of Section 5.3, in no case later than 21/2 months following the end of
the taxable year in which such Termination of Affiliation occurs. 

	5.3
	Six-Month Delay.    To the extent subject to Section 409A of the Code, if any distributions due to a
Participant hereunder would cause the application of an accelerated or additional tax under Section 409A of the Code such distributions shall be restructured in a manner which does not cause
such an accelerated or additional tax. Without limiting the foregoing and notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation
and/or tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Award Agreement during the
six-month period immediately following a Participant's separation from service shall instead be paid on the first business day after the date that is six months following the Participant's
separation from service (or death, if earlier). 

Article 6. Beneficiary Designation  

	6.1
	Beneficiary Designation.    Each Participant shall have the right, at any time, to designate any person or persons as
beneficiary or beneficiaries (both principal as well as contingent) to whom a lump sum cash payment of the balance of the Participant's Mutual Fund Share Investment Account shall be made in the event
of the Participant's death. In the event of multiple beneficiaries, such payment shall be apportioned among the beneficiaries in accordance with the designation forms. A beneficiary designation may be
changed by a Participant by filing such change on a form prescribed by the Administrator. The receipt of a new beneficiary designation form will cancel all previously filed beneficiary designations.

	6.2
	Failure to Designate.    If a Participant fails to designate a beneficiary as provided above, or if all designated
beneficiaries predecease the Participant, then all payments hereunder in respect of the Participant shall be made to the Participant's estate. 

Article 7. Plan Administration.  

	7.1
	Administrator.    The Administrator is responsible for the administration of the Plan. The Administrator has the authority to
name one or more delegates to carry out certain responsibilities hereunder. Any such delegation shall state the scope of responsibilities being delegated. 

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	7.2
	Action.    Action by the Administrator may be taken in accordance with procedures that the Administrator adopts from time to
time and that the Company's Legal Department determines are legally permissible.

	7.3
	Powers of the Administrator.    The Administrator shall administer and manage the Plan and shall have (and shall be permitted
to delegate) all powers necessary to accomplish that purpose, including (but not limited to) the following: 

        (a)   To
exercise its discretionary authority to construe, interpret, and administer this Plan; 

        (b)   To
exercise its discretionary authority to make all decisions regarding eligibility, participation and deferrals, to make allocations and determinations required by this
Plan, and to maintain records regarding Participants' Mutual Fund Share Investment Accounts; 

        (c)   To
compute and certify to the Company the amount and kinds of payments to Participants or their Beneficiaries, and to determine the time and manner in which such
payments are to be paid; 

        (d)   To
authorize all disbursements by the Company pursuant to this Plan; 

        (e)   To
maintain (or cause to be maintained) all the necessary records for administration of this Plan; 

        (f)    To
make and publish such rules for the regulation of this Plan as are not inconsistent with the terms hereof; 

        (g)   To
authorize its delegates to delegate to other individuals or entities from time to time the performance of any of its delegates' duties or responsibilities hereunder; 

        (h)   To
establish or to change the phantom investment options or arrangements under Article IV; 

        (i)    To
hire agents, accountants, actuaries, consultants and legal counsel to assist in operating and administering the Plan; and 

        (j)    Notwithstanding
any other provision of this Plan, the Administrator may take any action it deems appropriate in furtherance of any policy of the Company respecting
insider trading as may be in effect from time to time. Such actions may include, but are not limited to, altering the effective date of allocations or distributions of the Mutual Fund Share Investment
Account. 

The
Administrator has the exclusive and discretionary authority to construe and to interpret the Plan, to decide all questions of eligibility for benefits, to determine the 

8

 

amount
and manner of payment of such benefits and to make any determinations that are contemplated by (or permissible under) the terms of this Plan, and its decisions on such matters will be final and
conclusive on all parties. Any such decision or determination shall be made in the absolute and unrestricted discretion of the Administrator, even if (1) such discretion is not expressly
granted by the Plan provisions in question, or (2) a determination is not expressly called for by the Plan provisions in question, and even though other Plan provisions expressly grant
discretion or call for a determination. As a result, benefits under this Plan will be paid only if the Administrator decides in its discretion that the applicant is entitled to them. In the event of a
review by a court, arbitrator or any other tribunal, any exercise of the Administrator's discretionary authority shall not be disturbed unless it is clearly shown to be arbitrary and capricious. 

	7.4
	Compensation, Indemnity and Liability.    The Administrator will serve without bond and without compensation for services
hereunder. All expenses of the Plan and the Administrator will be paid by the Company. To the extent deemed appropriate by the Administrator, any such expense may be charged against specific
Participant Mutual Fund Share Investment Accounts, thereby reducing the obligation of the Company. No member of the Plan Committee, and no individual acting as the delegate of the Plan Committee,
shall be liable for any act or omission of any other member or individual, nor for any act or omission on his or her own part, excepting his or her own willful misconduct. The Company will indemnify
and hold harmless each member of the Plan Committee and any employee of the Company (or an affiliate, if recognized as an affiliate for this purpose by the Administrator) acting as the delegate of the
Plan Committee against any and all expenses and liabilities, including reasonable legal fees and expenses, arising out of his or her membership on the Plan Committee (or his or her serving as the
delegate of the Committee), excepting only expenses and liabilities arising out of his or her own willful misconduct.

	7.5
	Taxes.    If the whole or any part of any Participant's Mutual Fund Share Investment Account becomes liable for the payment
of any estate, inheritance, income, employment, or other tax which the Company or any Subsidiary may be required to pay or withhold, the Company or any Subsidiary will have the full power and
authority to withhold and pay such tax out of any moneys or other property in its hand for the account of the Participant. To the extent practicable, the Company will provide the Participant notice of
such withholding. Prior to making any payment, the Company may require such releases or other documents from any lawful taxing authority as it shall deem necessary. 

Article 8. Claims Procedures  

	8.1
	Claims for Benefits.    If a Participant, beneficiary or other person (hereafter, "Claimant") does not receive timely payment
of any benefits which he or she believes are due and payable under the Plan, he or she may make a claim for benefits to the Administrator. The claim for benefits must be in writing and addressed to
the Administrator. If the claim for benefits is denied, the Administrator will notify the Claimant within 90 days 

9

 

after
the Administrator initially received the benefit claim. However, if special circumstances require an extension of time for processing the claim, the Administrator will furnish notice of the
extension to the Claimant prior to the termination of the initial 90-day period and such extension may not exceed one additional, consecutive 90-day period. Any notice of a
denial of benefits should advise the Claimant of the basis for the denial, any additional material or information necessary for the Claimant to perfect his or her claim, and the steps which the
Claimant must take to appeal his or her claim for benefits. 

	8.2
	Appeals of Denied Claims.    Each Claimant whose claim for benefits has been denied may file a written appeal for a
review of his or her claim by the Administrator. The request for review must be filed by the Claimant within 60 days after he or she received the notice denying his or her claim. The decision
of the Administrator will be communicated to the Claimant within 60 days after receipt of a request for appeal. The notice shall set forth the basis for the Administrator's decision. If there
are special circumstances which require an extension of time for completing the review, the Administrator's decision may be rendered not later than 120 days after receipt of a request for
appeal. 

Article 9. Amendment and Termination  

	9.1
	Amendments.    The Committee has the right in its sole discretion to amend this Plan in whole or in part at any time and in
any manner, including the manner of making deferral elections, the terms on which distributions are made, and the form and timing of distributions. However, except for clarifying amendments necessary
to avoid an inappropriate windfall, no Plan amendment shall reduce the amount credited to the Mutual Fund Share Investment Account of any Participant as of the date such amendment is adopted. Any
amendment shall be in writing and adopted by the Committee. All Participants and beneficiaries shall be bound by such amendment.

	9.2
	Termination of Plan.    The Company expects to continue this Plan, but does not obligate itself to do so. The Company, acting
by the Committee or through its Board, reserves the right to discontinue and terminate the Plan at any time, in whole or in part, for any reason (including a change, or an impending change, in the tax
laws of the United States or any State). Termination of the Plan will be binding on all Participants (and a partial termination shall be binding upon all affected Participants) and their
beneficiaries, but in no event may such termination reduce the amounts credited at that time to any Participant's Mutual Fund Share Investment Account. If this Plan is terminated (in whole or in
part), the termination resolution shall provide for how amounts theretofore credited to affected Participants' Mutual Fund Share Investment Accounts will be distributed. In accordance with these
restrictions, the Company intends to have the maximum discretionary authority to terminate the Plan and make distributions in connection with a 

10

 

Change
in Control, and the maximum flexibility with respect to how and to what extent to carry this out following a Change in Control. 

	9.3
	409A Compliance.    Notwithstanding anything to the contrary contained in the Plan or in any Award Agreement, to the extent
that the Committee determines that the Plan or any Award is subject to Section 409A of the Code and fails to comply with the requirements of Section 409A of the Code, the Committee
reserves the right to amend or terminate the Plan and/or amend, restructure, terminate or replace the Award in order to cause the Award to either not be subject to Section 409A of the Code or
to comply with the applicable provisions of such section. 

Article 10. Miscellaneous  

	10.1
	Limitation on Participant's Rights.    No employee shall have any claim to receive any Award under the Plan, and there is no
obligation for uniformity of treatment of employees under the Plan. Participation in this Plan does not give any Participant the right to be employed by the Company or any Subsidiary (or any right or
interest in this Plan or any assets of the Company other than as herein provided). The Company or any Subsidiary reserves the right to terminate the employment of any Participant without any liability
for any claim against the Company or any Subsidiary under this Plan, except for a claim for payment of deferrals as provided herein.

	10.2
	Unfunded Obligation of Company.    The benefits provided by this Plan are unfunded. All amounts payable under this Plan to
Participants are paid from the general assets of the Company. Nothing contained in this Plan requires the Company to set aside or hold in trust any amounts or assets for the purpose of paying benefits
to Participants. Neither a Participant, beneficiary, nor any other person shall have any property interest, legal or equitable, in any specific Company asset. This Plan creates only a contractual
obligation on the part of the Company, and the Participant has the status of a general unsecured creditor of this Company with respect to amounts of compensation deferred hereunder. Such a Participant
shall not have any preference or priority over, the rights of any other unsecured general creditor of the Company. No other entity guarantees or shares such obligation, and no other entity shall have
any liability to the Participant or his or her beneficiary.

	10.3
	Offset.    Amounts due to or in respect of Participants under the Plan shall not be affected by any circumstances,
including, without limitation, any set-off, counterclaim, recoupment, defense or other right which the Company may have against a Participant or others.

	10.4
	Other Plans.    This Plan shall not affect the right of any Employee or Participant to participate in and receive benefits
under and in accordance with the provisions of any 

11

 

other
benefit plans which are now or hereafter maintained by the Company, unless the terms of such other benefit plan or plans specifically provide otherwise or it would cause such other plan to
violate a requirement for tax favored treatment. 

	10.5
	Receipt or Release.    Any payment to a Participant in accordance with the provisions of this Plan shall, to the extent
thereof, be in full satisfaction of all claims against the Administrator and the Company, and the Administrator may require such Participant, as a condition precedent to such payment, to execute a
receipt and release to such effect.

	10.6
	Governing Law.    This Plan shall be construed, administered, and governed in all respects in accordance with applicable
federal law and, to the extent not preempted by federal law, in accordance with the laws of the State of Delaware (other than its laws relating to choice of law). If any provisions of this instrument
shall be held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof shall continue to be fully effective.

	10.7
	Gender, Tense and Examples.    In this Plan, whenever the context so indicates, the singular or plural number and the
masculine, feminine, or neuter gender shall be deemed to include the other. Whenever an example is provided or the text uses the term "including" followed by a specific item or items, or there is a
passage having a similar effect, such passage of the Plan shall be construed as if the phrase "without limitation" followed such example or term (or otherwise applied to such passage in a manner that
avoids limitation on its breadth of application).

	10.8
	Successors and Assigns; Nonalienation of Benefits.    This Plan inures to the benefit of and is binding upon the parties
hereto and their successors, heirs and assigns; provided, however, that the amounts credited to the Mutual Fund Share Investment Account of a Participant are not subject in any manner to anticipation,
alienation, sale, transfer, assignment, pledge, encumbrance, charge, garnishment, execution or levy of any kind, either voluntary or involuntary, and any attempt to anticipate, alienate, sell,
transfer, assign, pledge, encumber, charge or otherwise dispose of any right to any benefits payable hereunder, including, any assignment or alienation in connection with a separation, divorce, child
support or similar arrangement, will be null and void and not binding on the Plan or the Company. Notwithstanding the foregoing, the Administrator reserves the right to make payments in accordance
with a divorce decree, judgment or other court order as and when cash payments are made in accordance with the terms of this Plan from the Mutual Fund Share Investment Account of a Participant. Any
such payment shall be charged against and reduce the Participant's account.

	10.9
	Facility of Payment.    Whenever, in the Administrator's opinion, a Participant or beneficiary entitled to receive any
payment hereunder is under a legal disability or is incapacitated in any way so as to be unable to manage his or her financial affairs, the Administrator may direct the Company to make payments to
such person or to the legal representative of such person for his or her benefit, or to apply the payment for the 

12

 

benefit
of such person in such manner as the Administrator considers advisable. Any payment in accordance with the provisions of this section shall be a complete discharge of any liability for the
making of such payment to the Participant or beneficiary under the Plan. 

	10.10
	Effective Date.    The Plan shall take effect on the date of its adoption by the Committee. 

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QuickLinks

Exhibit 10.1

JANUS CAPITAL GROUP INC. AMENDED AND RESTATED MUTUAL FUND SHARE INVESTMENT PLAN (Amended and restated as of January 22, 2008)QuickLinks
 -- Click here to rapidly navigate through this document

 

 
 

Exhibit 10.2    
    

JANUS CAPITAL GROUP INC. 

 
 

2005 Long Term Incentive Stock Plan  
  

(As
amended and restated effective January 22, 2008) 

 

 
 

TABLE OF CONTENTS

	ARTICLE 1 HISTORY, EFFECTIVE DATE, OBJECTIVES AND DURATION	 	1
	

ARTICLE 2 DEFINITIONS	
 	

1
	

ARTICLE 3 ADMINISTRATION	
 	

8
	

ARTICLE 4 SHARES SUBJECT TO THE PLAN AND MAXIMUM AWARDS	
 	

10
	

ARTICLE 5 ELIGIBILITY AND GENERAL CONDITIONS OF AWARDS	
 	

11
	

ARTICLE 6 STOCK OPTIONS	
 	

14
	

ARTICLE 7 STOCK APPRECIATION RIGHTS	
 	

16
	

ARTICLE 8 RESTRICTED SHARES	
 	

17
	

ARTICLE 9 BENEFICIARY DESIGNATION	
 	

19
	

ARTICLE 10 DEFERRALS	
 	

19
	

ARTICLE 11 RIGHTS OF EMPLOYEES/DIRECTORS/CONSULTANTS	
 	

19
	

ARTICLE 12 CHANGE OF CONTROL	
 	

20
	

ARTICLE 13 AMENDMENT, MODIFICATION AND TERMINATION	
 	

20
	

ARTICLE 14 WITHHOLDING	
 	

21
	

ARTICLE 15 SUCCESSORS	
 	

22
	

ARTICLE 16 ADDITIONAL PROVISIONS	
 	

22

 

 
 

JANUS CAPITAL GROUP INC.
  2005 LONG TERM INCENTIVE STOCK PLAN    
    

ARTICLE
1 

HISTORY,
EFFECTIVE DATE, OBJECTIVES AND DURATION 

        1.1    History.    Janus Capital Group, Inc., a Delaware corporation (the "Company"), has established the Janus
Capital Group 2005 Long Term Incentive Stock Plan, as set forth herein, and as the same may be amended from time to time (the "Plan"). 

        1.2    Objectives of the Plan.    The Plan is intended to allow employees, directors and consultants of the Company
and its Subsidiaries to acquire or increase equity ownership in the Company, thereby strengthening their commitment to the success of the Company and stimulating their efforts on behalf of the
Company, and to assist the Company and its Subsidiaries in attracting new employees, directors and consultants and retaining existing employees, directors and consultants. The Plan also is intended to
optimize the profitability and growth of the Company through incentives which are consistent with the Company's goals; to provide employees, directors and consultants with an incentive for excellence
in individual performance; and to promote teamwork among employees, directors and consultants. 

        1.3    Duration of the Plan.    The Plan shall commence on the Effective Date and shall remain in effect, subject to
the right of the Board to amend or terminate the Plan at any time pursuant to Article 13 hereof, until the earlier of (a) all Shares subject to the Plan have been purchased or acquired
according to the Plan's provisions or (b) the tenth anniversary of its Effective Date. No Awards shall be granted under the Plan after such termination date. 

ARTICLE
2 

DEFINITIONS

        Whenever
used in the Plan, the following terms shall have the meanings set forth below: 

        2.1   "Article" means an Article of the Plan. 

        2.2   "Award" means Options (including Incentive Stock Options), Restricted Shares (awarded as Shares or Share Units), stock
appreciation rights (SARs), Shares or Dividend Equivalents granted under the Plan. 

        2.3   "Award Agreement" means the written agreement by which an Award shall be evidenced. 

        2.4   "Board" means the board of directors of the Company. 

 

        2.5   "Cause" means, unless otherwise defined in an Award Agreement or any other agreement between the Grantee and the Company
or a Subsidiary, 

        (a)   before
the occurrence of a Change of Control, any one or more of the following, as determined by the Committee: 

        (1)   a
Grantee's commission of a crime which, in the judgment of the Committee, resulted or is likely to result in damage or injury to the Company or a Subsidiary; 

        (2)   the
material violation by the Grantee of written policies of the Company or a Subsidiary; 

        (3)   the
habitual neglect or failure by the Grantee in the performance of his or her duties to the Company or a Subsidiary (but only if such neglect or failure is not
remedied within a reasonable remedial period after Grantee's receipt of written notice from the Company which describes such neglect or failure in reasonable detail and specifies the remedial period);
or 

        (4)   action
or inaction by the Grantee in connection with his or her duties to the Company or a Subsidiary resulting, in the judgment of the Committee, in material injury to
the Company or a Subsidiary; and 

        (b)   from
and after the occurrence of a Change of Control, the occurrence of any one or more of the following, as determined in the good faith and reasonable judgment by the
affirmative vote of not less than three-quarters (3/4) of the entire membership of the Board at a meeting of the Board which was called and held for the purpose of considering such
termination (after reasonable notice to the Grantee and an opportunity for the Grantee, together with the Grantee's counsel, to be heard before the Board): 

        (1)   the
willful and continued failure by the Grantee to substantially perform the Grantee's duties with the Company (other than any such failure resulting from the Grantee's
incapacity due to physical or mental illness) that has not been cured within 30 days after a written demand for substantial performance is delivered to the Grantee by the Board, which demand
specifically identifies the manner in which the Board believes that the Grantee has not substantially performed the Grantee's duties; 

        (2)   the
willful engaging by the Grantee in conduct which is demonstrably and materially injurious to the Company or a Subsidiary, monetarily or otherwise; or 

        (3)   the
willful or reckless violation by the Grantee of a material legal or regulatory requirement that is materially and demonstrably injurious to the Company. 

        For
purposes of this definition, no act, or failure to act, on the Grantee's part shall be deemed "willful" unless done, or omitted to be done, by the Grantee not in good faith and
without reasonable belief that the Grantee's act, or failure to act, was in the best 

2

 

interest
of the Company. Any act, or failure to act, based upon express written authority by the Board, Chief Executive Officer and/or Chief Investment Officer with respect to such act or omission or
based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Grantee in good faith and in the best interests of the Company. 

        2.6   "Change of Control" shall, unless otherwise defined in the Award Agreement, be deemed to have occurred if the event set
forth in any one of the following paragraphs shall have occurred: 

        (a)   a
change in the composition of the Board such that the individuals who, as of the effective date of the this Agreement, constitute the Board (such Board shall be
hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided,  however, for purposes of
this definition, that any individual who becomes a member of the Board subsequent to the effective date hereof, whose election,
or nomination for election by the Company's shareholders, was approved by a vote of at least a majority of those individuals who are members of the Board and who were also members of the Incumbent
Board (or deemed to be such pursuant to this proviso) shall be considered as though such individual were a member of the Incumbent Board; but, provided
further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in
Rule 14a-11 of Regulation 14A promulgated under the Exchange Act, as modified) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person
other than the Board shall not be so considered as a member of the Incumbent Board; or 

        (b)   consummation
of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company or the acquisition of the
assets or stock of another entity ("Business Combination"); excluding, however, such a Business Combination pursuant to which (1) all or substantially all of the individuals and entities who
are the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination will beneficially own,
directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting power of the then outstanding voting securities entitled to vote generally in
the election of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation, a corporation which as a result of such transaction owns the
Company or all or substantially all the Company's assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such
Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (2) no Person (other than the Company or any employee benefit plan
(or related trust) of the Company or the corporation resulting from such Business Combination) will beneficially own, directly or indirectly, 20% or more of, respectively, the outstanding shares of
common stock of the corporation resulting from such Business Combination or the combined voting power of the outstanding voting securities of such corporation entitled to vote generally in the
election of directors except to the extent that such ownership existed prior to the Business Combination; and (3) individuals who were members of the Incumbent Board will constitute at least a
majority of 

3

 

the
members of the board of directors of the corporation resulting form such Business Combination; or 

        (c)   the
approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

        Notwithstanding
(a), (b) and (c) above, that for each Award subject to Section 409A of the Code, a Change of Control shall be deemed to have occurred under this Plan
with respect to such Award only if a change in the ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company shall also be deemed
to have occurred under Section 409A of the Code. 

        2.7   "Change of Control Value" means the Fair Market Value of a Share on the date of a Change of Control. 

        2.8   "Code" means the Internal Revenue Code of 1986, as amended from time to time, and regulations and rulings thereunder.
References to a particular section of the Code include references to successor provisions of the Code or any successor code. 

        2.9   "Committee" has the meaning set forth in Article 3. 

        2.10 "Common Stock" means the common stock, $.01 par value, of the Company. 

        2.11 "Company" has the meaning set forth in Section 1.1. 

        2.12 "Covered Employee" means a Grantee who, as of the date that the value of an Award is recognizable as taxable income, is
one of the group of "covered employees," within the meaning of Code Section 162(m). 

        2.13 "Disability" means that a Grantee (i) is unable to engage in any substantial gainful activity by reason of any
medically determinable physical or mental impairment which an be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by
reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months,
receiving income replacement benefits for a period of not less than 3 months under an accident and health plan covering employees of the Company or a Subsidiary of the Company. 

        2.14 "Disqualifying Disposition" has the meaning set forth in Section 6.4. 

        2.15 "Dividend Equivalents" has the meaning set forth in Section 11.3. 

        2.16 "Effective Date" shall mean the later of (a) the date that the Plan was adopted by the Board and (b) the
date the Plan was approved by stockholders of the Company. 

        2.17 "Eligible Person" means (i) any employee (including any officer) of the Company or any Subsidiary, including any
such employee who is on an approved leave of 

4

 

absence,
layoff, or has been subject to a disability which does not qualify as a Disability, (ii) any director of the Company or any Subsidiary and (iii) any person performing services
for the Company or a Subsidiary in the capacity of a consultant or otherwise. 

        2.18 "Exchange Act" means the Securities Exchange Act of 1934, as amended from time to time. References to a particular
section of the Exchange Act include references to successor provisions. 

        2.19 "Fair Market Value" means (A) with respect to any property other than Shares, the fair market value of such
property determined by such methods or procedures as shall be established from time to time by the Committee, and (B) with respect to Shares, unless otherwise determined by the Committee, as of
any date, (i) the average of the high and low trading prices on the date of determination on the New York Stock Exchange (or, if no sale of Shares was reported for such date, on the next
preceding date on which a sale of Shares was reported); (ii) if the Shares are not listed on the New York Stock Exchange, the average of the high and low trading prices of the Shares on such
other national exchange on which the Shares are principally traded or as reported by the National Market System, or similar organization, or if no such quotations are available, the average of the
high bid and low asked quotations in the over-the-counter market as reported by the National Quotation Bureau Incorporated or similar organizations; or (iii) in the
event that there shall be no public market for the Shares, the fair market value of the Shares as determined by the Committee. 

        2.20 "Freestanding SAR" means an SAR that is granted independently of any other Award. 

        2.21 "Grant Date" has the meaning set forth in Section 5.2. 

        2.22 "Grantee" means an individual who has been granted an Award. 

        2.23 "Incentive Stock Option" means an option granted under Article 6 of the Plan that is intended to meet the
requirements of Section 422 of the Code or any successor provisions thereto. 

        2.24 "including" or "includes" means "including, without limitation," or
"includes, without limitation," respectively. 

        2.25 "Management Committee" has the meaning set forth in Article 3. 

        2.26 "Option" means an option granted under Article 6 of the Plan. 

        2.27 "Outside Director" means a member of the Board who is not an employee of the Company or any Subsidiary and who meets the
other requirements to be an outside director (as that term is defined for purposes of the regulations under Code section 162(m). 

        2.28 "Performance-Based Exception" means the performance-based exception from the tax deductibility limitations of Code
Section 162(m). 

5

 

        2.29 "Performance Measures" means the criteria and objectives, determined by the Committee, which must be met during the
applicable Performance Period as a condition of the Participant's receipt of payment with respect to an Award. Unless and until the Committee proposes for stockholder vote and stockholders approve a
change in the general performance measures set forth in this section, with respect to Covered Employees, performance measures may include any or all of the following or any combination 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; (r) levels of cost savings;
(s) operating margin; and/or (t) flows into Janus products (gross or net). 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 Subsidiaries', 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 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 the event that applicable tax and/or securities laws change to permit Committee discretion to alter
the governing performance measures without obtaining stockholder approval of such changes, and still qualify for the Performance-Based Exception, the Committee shall have sole discretion to make such
changes without obtaining stockholder approval. 

        2.30 "Performance Period" means the time period during which the Performance Measures must be met. 

        2.31 "Period of Restriction" means the period during which the transfer of Restricted Shares is limited in some way (the
length of the period being based on the passage of time, the achievement of Performance Measures, or upon the occurrence of other events as determined by the Committee), and the Shares are subject to
a substantial risk of forfeiture, as provided in Article 8. 

        2.32 "Person" shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in
Sections 13(d) and 14(d) thereof, including a "group" as defined in Section 13(d) thereof. 

        2.33 "Plan" has the meaning set forth in Section 1.1. 

        2.34 "Plan Committee" has the meaning set forth in Article 3. 

        2.35 "Required Withholding" has the meaning set forth in Article 14. 

6

 

        2.36 "Restricted Shares" means Shares or Share Units that are subject to forfeiture if the Grantee does not satisfy the
conditions specified in the Award Agreement applicable to such Shares or Share Units. 

        2.37 "Retirement" means, for any Grantee who is a director or employee of the Company or any Subsidiary, (A) for any
Award other than a Share Unit, a Termination of Affiliation by the Grantee upon having both attained age fifty-five (55) and completed at least ten (10) years of service with
the Company or a Subsidiary, and (B) for any Share Unit, the Participant having both attained age fifty-five (55) and completed at least ten (10) years of service with
the Company or a Subsidiary. 

        2.38 "Rule 16b-3" means Rule 16b-3 promulgated by the SEC under the Exchange Act, as
amended from time to time, together with any successor rule, as in effect from time to time. 

        2.39 "SAR" means a stock appreciation right. 

        2.40 "SEC" means the United States Securities and Exchange Commission, or any successor thereto. 

        2.41 "Section" means, unless the context otherwise requires, a Section of the Plan. 

        2.42 "Section 16 Person" means a person who is subject to potential liability under Section 16(b) of the 1934
Act with respect to transactions involving equity securities of the Company. 

        2.43 "Share" means a share of Common Stock. 

        2.44 "Share Unit" means a bookkeeping entry representing the equivalent of one share of Common Stock that is payable in the
form of Common Stock, cash, or any combination of the foregoing. 

        2.45 "Strike Price" of any SAR shall equal, for any Tandem SAR (whether such Tandem SAR is granted at the same time as or
after the grant of the related Option), the option price of such Option, or for any other SAR, 100% of the Fair Market Value of a Share on the Grant Date of such SAR; provided that the Committee may
specify a higher Strike Price in the Award Agreement. 

        2.46 "Subsidiary" means a United States or foreign corporation or limited liability company, partnership or other similar
entity with respect to which the Company owns, directly or indirectly, 50% or more of the Voting Power of such corporation, limited liability company, partnership or other similar entity 

        2.47 "Tandem SAR" means an SAR that is granted in connection with a related Option, the exercise of which shall require
cancellation of the right to purchase a Share under the related Option (and when a Share is purchased under the related Option, the Tandem SAR shall similarly be canceled). 

7

 

        2.48 "Termination of Affiliation" occurs on the first day on which an individual is for any reason no longer an employee,
director or consultant of the Company or any Subsidiary, or with respect to an individual who is an employee or director of, or consultant to, a corporation which is a Subsidiary, the first day on
which such corporation ceases to be a Subsidiary; provided, however, that for each Award subject to Section 409A of the Code, a Termination of Affiliation shall be deemed to have occurred under
this Plan with respect to such award on the first day on which an individual has experienced a "separation from service" within the meaning of Section 409A of the Code. 

        2.49 "10% Owner" means a person who owns capital stock (including stock treated as owned under Section 424(d) of the
Code) possessing more than 10% of the total combined voting power of all classes of capital stock of the Company or any Subsidiary. 

        2.50 "Voting Power" means the combined voting power of the then-outstanding securities of a corporation entitled
to vote generally in the election of directors. 

ARTICLE
3 

ADMINISTRATION 

        3.1    Committee.    

        (a)   Subject
to Article 13 and to Section 3.2, the Plan shall be administered by the Board, or a committee appointed by the Board to administer the Plan (the
"Plan Committee"). To the extent the Board considers it desirable to comply with or qualify under Rule 16b-3 or meet the Performance-Based Exception, the Plan Committee shall
consist of two or more directors of the Company, all of whom qualify as Outside Directors and "non-employee directors" within the meaning of Rule 16b-3. The number of
members of the Plan Committee shall from time to time be increased or decreased, and shall be subject to such conditions, in each case as the Board deems appropriate to permit transactions in Shares
pursuant to the Plan to satisfy such conditions of Rule 16b-3 and the Performance-Based Exception as then in effect. 

        (b)   The
Board or the Plan Committee may appoint and delegate to another committee ("Management Committee") any or all of the authority of the Board or the Committee, as
applicable, with respect to Awards to Grantees other than Grantees who are Section 16 Persons at the time any such delegated authority is exercised. With respect to Awards that are intended to
meet the Performance-Based Exception and that are made to a Grantee who is expected to be a Covered Employee, such delegation shall not include any authority, which if exercised by the Management
Committee rather than by the Plan Committee, would cause the Grantee's Award to fail to meet the Performance-Based Exception. 

        (c)   Any
references herein to "Committee" are references to the Board, or the Plan Committee or the Management Committee, as applicable. 

8

 

        3.2    Powers of Committee.    

        Subject
to the express provisions of the Plan, the Committee has full and final authority and sole discretion as follows: 

        (a)   to
determine when, to whom and in what types and amounts Awards should be granted and the terms and conditions applicable to each Award, including the benefit payable
under any SAR, and whether or not specific Awards shall be granted in connection with other specific Awards, and if so whether they shall be exercisable cumulatively with, or alternatively to, such
other specific Awards; 

        (b)   to
determine the amount, if any, that a Grantee shall pay for Restricted Shares, whether to permit or require the payment of cash dividends thereon to be deferred and
the terms related thereto, when Restricted Shares (including Restricted Shares acquired upon the exercise of an Option) shall be forfeited and whether such shares shall be held in escrow; 

        (c)   to
construe and interpret the Plan and to make all determinations necessary or advisable for the administration of the Plan; 

        (d)   to
make, amend, and rescind rules relating to the Plan, including rules with respect to the exercisability and nonforfeitability of Awards upon the Termination of
Affiliation of a Grantee; 

        (e)   to
determine the terms and conditions of all Award Agreements (which need not be identical) and, with the consent of the Grantee, to amend any such Award Agreement at
any time, among other things, to permit transfers of such Awards to the extent permitted by the Plan; provided that the consent of the Grantee shall not
be required for any amendment which (i) does not adversely affect the rights of the Grantee, or (ii) is necessary or advisable (as determined by the Committee) to carry out the purpose
of the Award as a result of any new or change in existing applicable law; 

        (f)    to
cancel, with the consent of the Grantee, outstanding Awards and to grant new Awards in substitution therefore; 

        (g)   to
accelerate the exercisability (including exercisability within a period of less than six months after the Grant Date) or the vesting of, and to accelerate or waive
any or all of the terms and conditions applicable to, any Award or any group of Awards for any reason and at any time, including in connection with a Termination of Affiliation; 

        (h)   subject
to Section 5.3, to extend the time during which any Award or group of Awards may be exercised; 

        (i)    to
make such adjustments or modifications to Awards to Grantees working outside the United States as are advisable to fulfill the purposes of the Plan or to comply with
applicable local law; 

9

 

        (j)    to
impose such additional terms and conditions upon the grant, exercise or retention of Awards as the Committee may, before or concurrently with the grant thereof, deem
appropriate, including limiting the percentage of Awards which may from time to time be exercised by a Grantee; and 

        (k)   to
take any other action with respect to any matters relating to the Plan for which it is responsible. 

        All
determinations on all matters relating to the Plan or any Award Agreement may be made in the sole and absolute discretion of the Committee, and all such determinations of the
Committee shall be final, conclusive and binding on all Persons. No member of the Committee shall be liable for any action or determination made with respect to the Plan or any Award. 

ARTICLE
4 

SHARES
SUBJECT TO THE PLAN AND MAXIMUM AWARDS 

        4.1    Number of Shares Available for Grants.    Subject to adjustment as provided in Section 4.2, the number
of Shares hereby reserved for issuance under the Plan shall be 15,000,000. No more than 5,000,000 of the shares reserved for issuance pursuant to the preceding sentence shall be issued as restricted
stock, restricted stock units or stock awards. Notwithstanding anything herein to the contrary, all Shares subject to a SAR award that are settled in Shares shall be counted in full against the number
of shares reserved for issuance under the Plan. The number of Shares for which Awards may be granted to any Grantee on any Grant Date, when aggregated with the number of Shares for which Awards have
previously been granted to such Grantee in the same calendar year, shall not exceed one percent (1%) of the total Shares outstanding as of such Grant Date; provided, however, that the total number of
Shares for which Awards may be
granted to any Grantee in any calendar year shall not exceed 2,000,000. For purposes of determining the maximum for a Grantee under the preceding sentence, any Award of Shares that the Grantee
receives under the Company's Employment Inducement Award Plan shall be treated as if it were an Award of Shares under this Plan. Determinations made in respect of the limitation set forth above shall
be made in a manner consistent with Section 162(m) of the Code. If any Shares subject to an Award granted hereunder are forfeited, terminated, expired or canceled or such Award otherwise
terminates without the issuance of such Shares or of other consideration in lieu of such Shares, the Shares subject to such Award, to the extent of any such forfeiture, termination, expiration or
cancellation shall again be available for grant under the Plan (without a charge against the aggregate number of Shares available for issuance hereunder). The Committee may from time to time determine
the appropriate methodology for calculating the number of Shares (i) issued pursuant to the Plan, and (ii) granted to any Grantee pursuant to the Plan. Shares issued pursuant to the Plan
may be treasury Shares or newly-issued Shares. 

        4.2    Adjustments in Authorized Shares.    In the event that the Committee determines that any dividend or other
distribution (whether in the form of cash, Shares, other securities, or other property), recapitalization, stock split, reverse stock split, subdivision, 

10

 

consolidation
or reduction of capital, reorganization, merger, scheme of arrangement, split-up, spin-off or combination involving the Company or repurchase or exchange of
Shares or other rights to purchase Shares or other securities of the Company, or other similar corporate transaction or event affects the Shares such that any adjustment is determined by the Committee
to be appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan, then the Committee shall, in such manner as it may
deem equitable, adjust any or all of (i) the number and type of Shares (or other securities or property) with respect to which Awards may be granted, (ii) the number and type of Shares
(or other securities or property) subject to outstanding Awards, and (iii) the grant or exercise price with respect to any Award or, if deemed appropriate, cancel an outstanding Award, in
exchange for, if deemed appropriate, a cash payment to the holder of an outstanding Award or the substitution of other property for Shares subject to an outstanding Award;  provided, in each case that
with respect to Awards of Incentive Stock Options no such adjustment shall be authorized to the extent that such adjustment
would cause the Plan to violate Section 422(b)(1) of the Code or any successor provision thereto; and provided further, that with respect to
Options and SARs, such adjustment shall be made in accordance with the provisions of Section 424(h) of the Code; and, provided further, that the
number of Shares subject to any Award denominated in Shares shall always be a whole number. 

ARTICLE
5 

ELIGIBILITY
AND GENERAL CONDITIONS OF AWARDS 

        5.1    Eligibility.    The Committee may grant Awards to any Eligible Person, whether or not he or she has previously
received an Award. 

        5.2    Grant Date.    The Grant Date of an Award shall be the date on which the Committee grants the Award or such
later date as specified by the Committee. 

        5.3    Maximum Term.    Except with respect to an Option Award, the term during which an Award may be outstanding
shall under no circumstances extend more than 10 years after the Grant Date, and shall be subject to earlier termination as herein provided. 

        5.4    Award Agreement.    To the extent not set forth in the Plan, the terms and conditions of each Award (which need
not be the same for each grant or for each Grantee) shall be set forth in an Award Agreement. 

        5.5    Restrictions on Share Transferability.    The Committee may impose such restrictions on any Shares acquired
pursuant to the exercise or vesting of an Award as it may deem advisable, including restrictions under applicable federal securities laws. 

        5.6    Termination of Affiliation.    Except as otherwise provided by the Committee or in the applicable Award
Agreement, and subject to the provisions of Article 12, the extent to which the Grantee shall have the right to exercise, vest in, or receive payment in respect of an Award following
Termination of Affiliation shall be determined in accordance with the following provisions of this Section 5.6. 

11

 

        (a)   For Cause.    If a Grantee has a Termination of Affiliation for Cause, (i) the Grantee's Restricted
Shares that are forfeitable shall thereupon be forfeited, subject to the provisions of Section 8.6 regarding repayment of certain amounts to the Grantee; and (ii) any unexercised Option
or SAR shall terminate effective immediately upon such Termination of Affiliation. 

        (b)   On Account of Death or Disability.    If a Grantee has a Termination of Affiliation on account of death or
Disability, then: 

        (1)   the
Grantee's Restricted Shares that were forfeitable shall thereupon become nonforfeitable; and 

        (2)   any
unexercised Option or SAR, whether or not exercisable on the date of such Termination of Affiliation, may be exercised, in whole or in part, within the first
12 months after such Termination of Affiliation (but only during the option term) and shall terminate immediately thereafter; such Option or SAR may be exercised to the extent permitted under
this section by the Grantee or, after his or her death, by (i) his or her personal representative or the person to whom the Option or SAR, as applicable, is transferred by will or the
applicable laws of descent and distribution, or (ii) the Grantee's beneficiary designated in accordance with Article 9. 

        (c)   On Account of Retirement.    If a Grantee has a Termination of Affiliation on account of Retirement, then: 

        (1)   any
unexercised Option or SAR, whether or not exercisable on the date of such Termination of Affiliation, may be exercised, in whole or in part, within the first five
years after such Termination of Affiliation (but only during the option term) and shall terminate immediately thereafter; such Option or SAR may be exercised to the extent permitted under this section
by the Grantee or, after his or her death, by (i) his or her personal representative or the person to whom the Option or SAR, as applicable, is transferred by will or the applicable laws of
descent and distribution, or (ii) the Grantee's beneficiary designated in accordance with Article 9. 

        (d)   Any Other Reason.    If a Grantee has a Termination of Affiliation for any reason other than for Cause, death,
Disability or Retirement, then: 

        (1)   the
Grantee's Restricted Shares, to the extent forfeitable on the date of the Grantee's Termination of Affiliation, shall be forfeited on such date; 

        (2)   if
such Termination of Affiliation is the result of the Grantee's voluntary termination of employment, any unexercised Option or SAR, to the extent not exercisable
immediately before the Grantee's Termination of Affiliation shall terminate immediately upon such Termination of Affiliation, and to the extent exercisable immediately before the Grantee's Termination
of Affiliation, may be exercised in whole or in part, not later than three months after such Termination of Affiliation (but only during the option term) and shall terminate immediately thereafter;
such Option or SAR may be exercised to the extent permitted under this section by the Grantee or, after his or her death, by (i) his or her personal representative or the person to whom the
Option or 

12

 

SAR,
as applicable, is transferred by will or the applicable laws of descent and distribution, or (ii) the Grantee's beneficiary designated in accordance with Article 9; and 

        (3)   if
such Termination of Affiliation is the result of the Grantee's termination of employment by the Company or a Subsidiary (other than for Cause), then, any unexercised
Option, whether or not exercisable immediately before the Grantee's Termination of Affiliation, may be exercised in whole or in part, not later than three months after such Termination of Affiliation
(but only during the option term) and shall terminate immediately thereafter; such Option or SAR may be exercised to the extent permitted under this section by the Grantee or, after his or her death,
by (i) his or her personal representative or the person to whom the Option is transferred by will or the applicable laws of descent and distribution, or (ii) the Grantee's beneficiary
designated in accordance with Article 9. 

        5.7    Nontransferability of Awards.    

        (a)   Except
as provided in Section 5.7(c) below, each Award, and each right under any Award, shall be exercisable only by the Grantee during the Grantee's lifetime,
or, if permissible under applicable law, by the Grantee's guardian or legal representative. 

        (b)   Except
as provided in Section 5.7(c) below, no Award (prior to the time, if applicable, Shares are issued in respect of such Award), and no right under any Award,
may be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered by a Grantee otherwise than by will or by the laws of descent and distribution (or in the case of Restricted
Shares, to the Company), and any such purported assignment, alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or any Subsidiary;  provided,
that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance. 

        (c)   To
the extent and in the manner permitted by the Committee, and subject to such terms, conditions, restrictions or limitations that may be prescribed by the Committee, a
Grantee may transfer an Award (other than an Incentive Stock Option) to (i) a spouse, sibling, parent, child (including an adopted child) or grandchild (any of which, an "Immediate Family
Member") of the Grantee; (ii) a trust, the primary beneficiaries of which consist exclusively of the Grantee or Immediate Family Members of the Grantee; or (iii) a corporation,
partnership or similar entity, the owners of which consist exclusively of the Grantee or Immediate Family Members of the Grantee. 

        5.8    Cancellation and Rescission of Awards.    Unless the Award Agreement specifies otherwise, the Committee may
cancel, rescind, suspend, withhold, or otherwise limit or restrict any unexercised Award at any time if the Grantee is not in compliance with all applicable provisions of the Award Agreement and the
Plan or if the Grantee has a Termination of Affiliation for Cause. 

        5.9    Loans and Guarantees.    The Committee may, subject to applicable law, (i) allow a Grantee to defer
payment to the Company of all or any portion of the option price of an Option or the purchase price of Restricted Shares, or (ii) cause the Company to loan to the 

13

 

Grantee,
or guarantee a loan from a third party to the Grantee for, all or any portion of the option price of an Option or the purchase price of Restricted Shares or all or any portion of any taxes
associated with the exercise of, nonforfeitability of, or payment of benefits in connection with, an Award. Any such payment deferral, loan or guarantee by the Company shall be on such terms and
conditions as the Committee may determine. Notwithstanding the foregoing, the Company shall not loan to the Grantee, or guarantee a loan from a third party to the Grantee, as described in the
preceding sentence, if such loan is prohibited under Section 402 of the Sarbanes-Oxley Act of 2002, as may be amended. 

ARTICLE
6 

STOCK
OPTIONS 

        6.1    Grant of Options.    Subject to the terms and provisions of the Plan, Options may be granted to any Eligible
Person in such number, and upon such terms, and at any time and from time to time as shall be determined by the Committee. Without in any manner limiting the generality of the foregoing and in a
manner intended to comply with Section 409A of the Code, the Committee may grant to any Eligible Person, or permit any Eligible Person to elect to receive, an Option in lieu of or in
substitution for any other compensation (whether payable currently or on a deferred basis, and whether payable under this Plan or otherwise) which such Eligible Person may be eligible to receive from
the Company or a Subsidiary. 

        6.2    Award Agreement.    Each Option grant shall be evidenced by an Award Agreement that shall specify the option
price, the option term, the number of shares to which the Option pertains, the time or times at which such Option shall be exercisable and such other provisions as the Committee shall determine. In no
event shall the Option be exercisable for a period of more than seven (7) years from its Grant Date, provided that it may be subject to earlier termination as provided herein or in the
applicable Award Agreement. 

        6.3    Option Price.    The option price of an Option under this Plan shall be determined by the Committee, and shall
be equal to or more than 100% of the Fair Market Value of a Share on the Grant Date; provided, however, that any Option that is (x) granted to a Grantee in connection with the acquisition
("Acquisition"), however effected, by the Company of another corporation or entity ("Acquired Entity") or the assets thereof, (y) associated with an option to purchase shares of stock of the
Acquired Entity or an affiliate thereof ("Acquired Entity Option") held by such Grantee immediately prior to such Acquisition, and (z) intended to preserve for the Grantee the economic value of
all or a portion of such Acquired Entity Option ("Substitute Option") may, to the extent necessary to achieve such preservation of economic value, be granted with an option price that is less than
100% of the Fair Market Value of a Share on the Grant Date, provided that such grant is made in a manner that will not result in the Substitute Option being subject to the requirements of
Section 409A of the Code. 

        6.4    Grant of Incentive Stock Options.    At the time of the grant of any Option, the Committee may designate that
such Option shall be made subject to additional restrictions to permit it to qualify as an "incentive stock option" under the requirements of Section 422 of the 

14

 

Code.
Any Option designated as an Incentive Stock Option shall, to the extent required by Section 422 of the Code: 

        (a)   if
granted to a 10% Owner, have an option price not less than 110% of the Fair Market Value of a Share on its Grant Date; 

        (b)   be
exercisable for a period of not more than seven (7) years (five years in the case of an Incentive Stock Option granted to a 10% Owner) from its Grant Date, and
be subject to earlier termination as provided herein or in the applicable Award Agreement; 

        (c)   not
have an aggregate Fair Market Value (as of the Grant Date of each Incentive Stock Option) of the Shares with respect to which Incentive Stock Options (whether
granted under the Plan or any other stock option plan of the Grantee's employer or any parent or Subsidiary thereof ("Other Plans")) are exercisable for the first time by such Grantee during any
calendar year, determined in accordance with the provisions of Section 422 of the Code, which exceeds $100,000 (the "$100,000 Limit"); 

        (d)   if
the aggregate Fair Market Value of the Shares (determined on the Grant Date) with respect to the portion of such grant which is exercisable for the first time during
any calendar year ("Current Grant") and all Incentive Stock Options previously granted under the Plan and any Other Plans which are exercisable for the first time during the same calendar year ("Prior
Grants") would exceed the $100,000 Limit be exercisable as follows: 

        (1)   the
portion of the Current Grant which would, when added to any Prior Grants, be exercisable with respect to Shares which would have an aggregate Fair Market Value
(determined as of the respective Grant Date for such options) in excess of the $100,000 Limit shall, notwithstanding the terms of the Current Grant, be exercisable for the first time by the Grantee in
the first subsequent calendar year or years in which it could be exercisable for the first time by the Grantee when added to all Prior Grants without exceeding the $100,000 Limit; and 

        (2)   if,
viewed as of the date of the Current Grant, any portion of a Current Grant could not be exercised under the preceding provisions of this Section during any calendar
year commencing with the calendar year in which it is first exercisable through and including the last calendar year in which it may by its terms be exercised, such portion of the Current Grant shall
not be an Incentive Stock Option, but shall be exercisable as an Option which is not an Incentive Stock Option at such date or dates as are provided in the Current Grant; 

        (e)   be
granted within seven (7) years from the earlier of the date the Plan is adopted or the date the Plan is approved by the stockholders of the Company; and 

        (f)    by
its terms not be assignable or transferable other than by will or the laws of descent and distribution and may be exercised, during the Grantee's lifetime, only by
the Grantee; provided, however, that the Grantee may, in any manner permitted by the Plan and specified
by the Committee, designate in writing a beneficiary to exercise his or her Incentive Stock Option after the Grantee's death. 

15

 

        Any
Option designated as an Incentive Stock Option shall also require the Grantee to notify the Committee of any disposition of any Shares issued pursuant to the exercise of the
Incentive Stock Option under the circumstances described in Section 421(b) of the Code (relating to certain disqualifying dispositions) (any such circumstance, a "Disqualifying Disposition"),
within 10 days of such Disqualifying Disposition. 

        Notwithstanding
Section 3.2(e), the Committee may, without the consent of the Grantee, at any time before the exercise of an Option (whether or not an Incentive Stock Option),
take any action necessary to prevent such Option from being treated as an Incentive Stock Option. 

        6.5    Payment.    Options granted under this Article 6 shall be exercised by the delivery of a written notice
of exercise to the Company, setting forth the number of Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares made by any one or more of the following
means subject to the approval of the Committee: 

        (a)   cash,
personal check or wire transfer; 

        (b)   Shares,
valued at their Fair Market Value on the date of exercise; 

        (c)   Restricted
Shares, each such Share valued at the Fair Market Value of a Share on the date of exercise; 

        (d)   subject
to applicable law, pursuant to procedures approved by the Committee, through the sale of the Shares acquired on exercise of the Option, valued at their Fair
Market Value in the date of exercise, sufficient to pay for such Shares, together with, if requested by the Company, the amount of federal, state, local or foreign withholding taxes payable by Grantee
by reason of such exercise; or 

        (e)   when
permitted by the Committee, payment may also be made in accordance with Section 5.9. 

        If
any Restricted Shares ("Tendered Restricted Shares") are used to pay the option price, a number of Shares acquired on exercise of the Option equal to the number of Tendered Restricted
Shares shall be subject to the same restrictions as the Tendered Restricted Shares, determined as of the date of exercise of the Option. 

ARTICLE
7 

STOCK
APPRECIATION RIGHTS 

        7.1    Grant of SARs.    Subject to the terms and conditions of the Plan, SARs may be granted to any Eligible Person
at any time and from time to time as shall be determined by the Committee. The Committee may grant Freestanding SARs, Tandem SARs, or any combination thereof. The Committee shall determine the number
of SARs granted to each Grantee (subject to Article 4), the Strike Price thereof, and, consistent with Section 7.2 and the other provisions of the Plan, the other terms and conditions
pertaining to such SARs. The Strike Price shall be 

16

 

determined
by the Committee, and shall be equal to or more than 100% of the Fair Market Value of a Share on the Grant Date; provided, however, that any Option that is (x) granted to a Grantee
in connection with the acquisition ("Acquisition"), however effected, by the Company of another corporation or entity ("Acquired Entity") or the assets thereof, (y) associated with an option to
purchase shares of stock of the Acquired Entity or an affiliate thereof ("Acquired Entity Option") held by such Grantee immediately prior to such Acquisition, and (z) intended to preserve for
the Grantee the economic value of all or a portion of such Acquired Entity Option ("Substitute Option") may, to the extent necessary to achieve such preservation of economic value, be granted with an
option price that is less than 100% of the Fair Market Value of a Share on the Grant Date, provided that such grant is made in a manner that will not result in the Substitute Option being subject to
the requirements of Section 409A of the Code. 

        7.2    Exercise of Tandem SARs.    Tandem SARs may be exercised for all or part of the Shares subject to the related
Award upon the surrender of the right to exercise the equivalent portion of the related Award. A Tandem SAR may be exercised only with respect to the Shares for which its related Award is then
exercisable. Notwithstanding any other provision of this Plan to the contrary, with respect to a Tandem SAR, (i) the Tandem SAR will expire no later than the expiration of the underlying
Option; (ii) the value of the payout with respect to the Tandem SAR may be for no more than 100% of the difference between the option price of the underlying Option and the Fair Market Value of
the Shares subject to the underlying Option at the time the Tandem SAR is exercised; and (iii) the Tandem SAR may be exercised only when the Fair Market Value of the Shares subject to the
Option exceeds the option price of the Option. 

        7.3    Payment of SAR Amount.    Upon exercise of an SAR, the Grantee shall be entitled to receive payment from the
Company in an amount determined by multiplying: 

        (a)   the
excess of the Fair Market Value of a Share on the date of exercise over the Strike Price; 

by

        (b)   the
number of Shares with respect to which the SAR is exercised; 

provided
that the Committee may provide in the Award Agreement that the benefit payable on exercise of an SAR shall not exceed such percentage of the Fair Market Value of a Share on the Grant Date as
the Committee shall specify. As provided by the Committee in the Award Agreement, the payment upon exercise of a Freestanding SAR or Tandem SAR shall either be in Shares which have an aggregate Fair
Market Value (as of the date of exercise of the SAR) equal to the amount of the payment or cash. 

ARTICLE
8 

RESTRICTED
SHARES 

        8.1    Grant of Restricted Shares.    Subject to the terms and provisions of the Plan, the Committee, at any time and
from time to time, may grant Restricted Shares to any Eligible Person in such amounts as the Committee shall determine. 

17

 

        8.2    Award Agreement.    Each grant of Restricted Shares shall be evidenced by an Award Agreement that shall specify
the period(s) of restriction, the number of Restricted Shares granted, and such other provisions as the Committee shall determine including, with respect to each Restricted Share that is also a Share
Unit, the time and form of payment of such Restricted Share; provided, however, that with respect to Restricted Shares that are also Share Units, if such Share Units would be subject to
Section 409A of the Code, the provisions of such Share Unit shall comply with the requirements set forth in Section 409A of the Code. 

        8.3    Restrictions.    The Committee may impose such conditions and/or restrictions on any Restricted Shares granted
pursuant to the Plan as it may deem advisable, including restrictions based upon the achievement of Performance Measures, the achievement of individual performance goals, time-based
restrictions on vesting, and/or restrictions under applicable securities laws. If vesting conditions relate exclusively to the passage of time and continued employment, then, except for grants to
newly hired employees or newly engaged consultants or directors, such time period shall not be less than 36 months, with 1/3 of the Award vesting every 12 months from the
date of the Award, subject to Article 12 and Sections 5.6 and 8.4 of the Plan. 

        8.4    Retirement.    Unless otherwise provided by the Committee, the Grantee's Restricted Shares shall become
nonforfeitable upon the Grantee having both attained age fifty-five (55) and completed at least ten (10) years of service with the Company or a Subsidiary; provided, however,
that, notwithstanding anything to the contrary contained in Section 5.7, such Shares that become nonforfeitable pursuant to this provision shall be nontransferable until the Grantee's
Retirement. 

        8.5    Consideration.    The Committee shall determine the amount, if any, that a Grantee shall pay for Restricted
Shares. Such payment shall be made in full by the Grantee before the delivery of the shares or share units and in any event no later than 10 business days after the Grant Date for such shares or share
units. 

        8.6    Effect of Forfeiture.    If Restricted Shares are forfeited, and if the Grantee was required to pay for such
shares or share units or acquired such Restricted Shares upon the exercise of an Option, the Grantee shall be deemed to have resold such Restricted Shares to the Company at a price equal to the lesser
of (x) the amount paid by the Grantee for such Restricted Shares, or (y) the Fair Market Value of a Share or Share Unit on the date of such forfeiture. The Company shall pay to the
Grantee the required amount as soon as is administratively practical. Such Restricted Shares shall cease to be outstanding, and shall no longer confer on the Grantee thereof any rights as a
stockholder of the Company, from and after the date of the event causing the forfeiture, whether or not the Grantee accepts the Company's tender of payment for such Restricted Shares. 

        8.7    Escrow; Legends.    The Committee may provide that the certificates for any Restricted Shares (x) shall
be held (together with a stock power executed in blank by the Grantee) in escrow by the Secretary of the Company until such Restricted Shares become nonforfeitable or are forfeited and/or
(y) shall bear an appropriate legend restricting the transfer of such Restricted Shares. If any Restricted Shares become nonforfeitable, the Company shall cause any certificates for such Shares
to be issued without such legend. 

18

 
ARTICLE
9 

BENEFICIARY
DESIGNATION 

        Each
Grantee under the Plan may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under the Plan is to be paid
in case of his or her death before he or she receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Grantee, shall be in a form prescribed by the
Company, and will be effective only when filed by the Grantee in writing with the Company during the Grantee's lifetime. In the absence of any such designation, benefits remaining unpaid at the
Grantee's death shall be paid to the Grantee's estate. 

ARTICLE
10 

DEFERRALS

        The
Committee may require or permit Grantees to elect to defer the receipt of the payment of cash or the delivery of Shares that would otherwise be due by virtue of the exercise of an
Option or SAR or the lapse or waiver of restrictions with respect to Restricted Shares under such rules and procedures as established under the Plan or such other rules and procedures as the Committee
shall establish; provided, however, to the extent that such deferral is subject to Section 409A of the Code the rules and procedures established by the Committee shall comply with
Section 409A of the Code. Except as otherwise provided in an Award Agreement, any payment or any Shares that are subject to such deferral shall be made or delivered to the Grantee upon the
Grantee's Termination of Affiliation. 

ARTICLE
11 

RIGHTS
OF EMPLOYEES/DIRECTORS/CONSULTANTS 

        11.1    Employment.    Nothing in the Plan shall interfere with or limit in any way the right of the Company to
terminate any Grantee's employment, directorship or consultancy at any time, nor confer upon any Grantee the right to continue in the employ or as a director or consultant of the Company. 

        11.2    Participation.    No employee, director or consultant shall have the right to be selected to receive an Award
under the Plan or, having been so selected, to be selected to receive a future Award. 

        11.3    Dividend Equivalents.    Subject to the provisions of the Plan and any Award, the recipient of an Award
(including any Award deferred in accordance with procedures established pursuant to Article 10) may, if so determined by the Committee, be entitled to receive, currently or on a deferred basis,
cash, stock or other property dividends, or cash payments in amounts equivalent to cash, property, or other property dividends on shares of Common Stock ("Dividend Equivalents") with respect to the
number of shares of Common Stock covered by the Award, as determined by the Committee, in its sole discretion, and the 

19

 

Committee
may provide that such amounts (if any) shall be deemed to have been reinvested in additional shares or otherwise reinvested; provided, however, that if such payment of dividends or Dividend
Equivalents would be subject to Section 409A of the Code, no such payment may be made if it would fail to comply with the requirements set forth in Section 409A of the Code. 

ARTICLE
12 

CHANGE
OF CONTROL 

        12.1    General Rules.    Except as otherwise provided in an Award Agreement, if a Change of Control occurs, then: 

        (a)   the
Grantee's Restricted Shares that were forfeitable shall thereupon become nonforfeitable; and 

        (b)   any
unexercised Option or SAR, whether or not exercisable on the date of such Change of Control, shall thereupon be fully exercisable and may be exercised, in whole or
in part. 

        12.2    409A Exception.    With respect to each Award that is subject to Section 409A of the Code, if a Change
in Control would have occurred under the Plan pursuant to the definition in Section 2.6 except that such Change in Control does not constitute a change in the ownership or effective control of
the Company or a change in the ownership of a substantial portion of the assets of the Company under Section 409A, then each such Award shall become vested and non-forfeitable;
provided, however, that the Grantee shall not be able to exercise the Award, and the Award shall not become payable, except in accordance with the terms of such Award or until such earlier time as the
exercise and/or payment complies with Section 409A of the Code. 

ARTICLE
13 

AMENDMENT,
MODIFICATION AND TERMINATION 

        13.1    Amendment, Modification, and Termination.    Subject to the terms of the Plan, the Board may at any time and
from time to time, alter, amend, suspend or terminate the Plan in whole or in part. To the extent applicable and required by Code Sections 162(m) or 422 or the rules of the New York Stock
Exchange (or such other exchange upon which the Company lists its shares for trading) or any other applicable law, rule or regulation, no amendment and no transaction that would constitute a repricing
shall be effective unless approved by the Company's stockholders. The Board may delegate to the Plan Committee any or all of the authority of the Board under Section 13.1 to alter, amend,
suspend or terminate the Plan. 

        13.2    Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events.    The Committee may make
adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including the events described in Section 4.2) affecting the
Company or the financial statements of the 

20

 

Company
or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of
the benefits or potential benefits intended to be made available under the Plan; provided that no such adjustment shall be authorized to the extent that such authority would be inconsistent with the
Plan's meeting the requirements of the Performance-Based Exception. 

        13.3    Awards Previously Granted.    Notwithstanding any other provision of the Plan to the contrary, no termination,
amendment, or modification of the Plan shall adversely affect in any material way any Award previously granted under the Plan, without the written consent of the Grantee of such Award. 

ARTICLE
14 

WITHHOLDING 

        14.1    Withholding.    

        (a)   Mandatory
Tax Withholding. 

        (1)   Whenever,
under the Plan, Shares are to be delivered upon exercise or payment of an Award or upon Restricted Shares becoming nonforfeitable, or any other event with
respect to rights and benefits hereunder, the Company shall be entitled to require (i) that the Grantee remit an amount in cash, or if determined by the Committee, Shares, sufficient to satisfy
all federal, state, local and foreign tax withholding requirements related thereto ("Required Withholding"), (ii) the withholding of such Required Withholding from compensation otherwise due to
the Grantee or from any Shares or other payment due to the Grantee under the Plan or (iii) any combination of the foregoing. 

        (2)   Any
Grantee who makes a Disqualifying Disposition or an election under Section 83(b) of the Code shall remit to the Company an amount sufficient to satisfy all
resulting Required Withholding; provided that, in lieu of or in addition to the foregoing, the Company shall have the right to withhold such Required
Withholding from compensation otherwise due to the Grantee or from any Shares or other payment due to the Grantee under the Plan. 

        (b)   Elective Share Withholding.

        (1)   Subject
to subsection 14.1(b)(2), a Grantee may elect the withholding ("Share Withholding") by the Company of a portion of the Shares subject to an Award upon the
exercise of such Award or upon Restricted Shares becoming non-forfeitable or upon making an election under Section 83(b) of the Code (each, a "Taxable Event") having a Fair Market
Value equal to (i) the minimum amount necessary to satisfy Required Withholding liability attributable to the Taxable Event; or (ii) with the Committee's prior approval, a greater
amount, not to exceed the estimated total amount of such Grantee's tax liability with respect to the Taxable Event. 

21

 

        (2)   Each
Share Withholding election shall be subject to the following conditions: 

          (i)  any
Grantee's election shall be subject to the Committee's discretion to revoke the Grantee's right to elect Share Withholding at any time before the Grantee's election
if the Committee has reserved the right to do so in the Award Agreement; 

         (ii)  the
Grantee's election must be made before the date (the "Tax Date") on which the amount of tax to be withheld is determined; and 

        (iii)  the
Grantee's election shall be irrevocable. 

        14.2    Notification under Code Section 83(b).    If the Grantee, in connection with the exercise of any
Option, or the grant of Restricted Shares, makes the election permitted under Section 83(b) of the Code to include in such Grantee's gross income in the year of transfer the amounts specified
in Section 83(b) of the Code, then such Grantee shall notify the Company of such election within 10 days of filing the notice of the election with the Internal Revenue Service, in
addition to any filing and notification required pursuant to regulations issued under Section 83(b) of the Code. The Committee may, in connection with the grant of an Award or at any time
thereafter prior to such an election being made, prohibit a Grantee from making the election described above. 

ARTICLE
15 

SUCCESSORS

        All
obligations of the Company under the Plan with respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the
result of a direct or indirect purchase, merger, consolidation, or otherwise of all or substantially all of the business and/or assets of the Company. 

ARTICLE
16 

ADDITIONAL
PROVISIONS 

        16.1    Gender and Number.    Except where otherwise indicated by the context, any masculine term used herein also
shall include the feminine, the plural shall include the singular and the singular shall include the plural. 

        16.2    Severability.    If any part of the Plan is declared by any court or governmental authority to be unlawful or
invalid, such unlawfulness or invalidity shall not invalidate any other part of the Plan. Any Section or part of a Section so declared to be unlawful or invalid shall, if possible, be construed in a
manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid. 

22

 

        16.3    Requirements of Law.    The granting of Awards and the issuance of Shares under the Plan shall be subject to
all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or stock exchanges as may be required. Notwithstanding any provision of the Plan or any Award, Grantees
shall not be entitled to exercise, or receive benefits under, any Award, and the Company shall not be obligated to deliver any Shares or other benefits to a Grantee, if such exercise or delivery would
constitute a violation by the Grantee or the Company of any applicable law or regulation. 

        16.4    Securities Law Compliance.    

        (a)   If
the Committee deems it necessary to comply with any applicable securities law, or the requirements of any stock exchange upon which Shares may be listed, the
Committee may impose any restriction on Shares acquired pursuant to Awards under the Plan as it may deem advisable. All certificates for Shares delivered under the Plan pursuant to any Award or the
exercise thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the SEC, any stock
exchange upon which Shares are then listed, any applicable securities law, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such
restrictions. If so requested by the Company, the Grantee shall make a written representation to the Company that he or she will not sell or offer to sell any Shares unless a registration statement
shall be in effect with respect to such Shares under the Securities Act of 1993, as amended, and any applicable state securities law or unless he or she shall have furnished to the Company evidence
satisfactory to the Company that such registration is not required. 

        (b)   If
the Committee determines that the exercise or nonforfeitability of, or delivery of benefits pursuant to, any Award would violate any applicable provision of
securities laws or the listing requirements of any stock exchange upon which any of the Company's equity securities are listed, then the Committee may postpone any such exercise, nonforfeitability or
delivery, as applicable, but the Company shall use all reasonable efforts to cause such exercise, nonforfeitability or delivery to comply with all such provisions at the earliest practicable date. 

        16.5    No Rights as a Stockholder.    A Grantee shall not have any rights as a stockholder of the Company with
respect to the Shares (other than Restricted Shares) which may be deliverable upon exercise or payment of such Award until such shares have been delivered to him or her. Restricted Shares, whether
held by a Grantee or in escrow by the Secretary of the Company, shall confer on the Grantee all rights of a stockholder of the Company, except as otherwise provided in the Plan or Award Agreement. At
the time of a grant of Restricted Shares, the Committee may require the payment of cash dividends thereon to be deferred and, if the Committee so determines, reinvested in additional Restricted
Shares. Stock dividends and deferred cash dividends issued with respect to Restricted Shares shall be subject to the same restrictions and other terms as apply to the Restricted Shares with respect to
which such dividends are issued. The Committee may provide for payment of interest on deferred cash dividends. 

23

 

        16.6    Nature of Payments.    Awards shall be special incentive payments to the Grantee and shall not be taken into
account in computing the amount of salary or compensation of the Grantee for purposes of determining any pension, retirement, death or other benefit under (a) any pension, retirement,
profit-sharing, bonus, insurance or other employee benefit plan of the Company or any Subsidiary or (b) any agreement between (i) the Company or any Subsidiary and (ii) the
Grantee, except as such plan or agreement shall otherwise expressly provide. 

        16.7    Governing Law.    The Plan, and all agreements hereunder, shall be construed in accordance with and governed
by the laws of the State of Delaware other than its laws respecting choice of law. 

        16.8    Code Section 409A Compliance.    Notwithstanding any provision of the Plan, to the extent that any
Award would be subject to Section 409A of the Code, no such Award may be granted if it would fail to comply with the requirements set forth in Section 409A of the Code. To the extent
that the Committee determines that the Plan or any Award is subject to Section 409A of the Code and fails to comply with the requirements of Section 409A of the Code, notwithstanding
anything to the contrary contained in the Plan or in any Award Agreement, the Committee, reserves the right to amend or terminate the Plan and/or amend, restructure, terminate or replace the Award in
order to cause the Award to either not be subject to Section 409A of the Code or to comply with the applicable provisions of such section. 

24

QuickLinks

Exhibit 10.2

2005 Long Term Incentive Stock Plan

TABLE OF CONTENTS

JANUS CAPITAL GROUP INC. 2005 LONG TERM INCENTIVE STOCK PLAN

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