SEPARATION AGREEMENT AND RELEASE

QuickLinks -- Click here to rapidly navigate through this document

Exhibit 10.1

SEPARATION AGREEMENT AND RELEASE

This Separation Agreement and Release (the "Agreement"), dated as of July 12 , 2009 , is entered into by Gary D. Black (the "Executive") and Janus Capital Group Inc. (the "Company").

WHEREAS, the Executive was employed by the Company as its Chief Executive Officer;

WHEREAS, the Executive and the Company are parties to a Severance Rights Agreement effective as of May 1, 2008 (the "Severance Agreement");

WHEREAS, on July 12 , 2009 (the "Termination Date"), the Executive's employment with the Company terminated by mutual agreement ("Termination"); and

WHEREAS, it is the desire of the Executive and the Company to avoid further proceedings with respect to their employment relationship and to compromise finally, fully and completely, and terminate that relationship in its entirety;

NOW, THEREFORE, in consideration of the provisions of this Agreement, the Company and Executive do mutually agree and do hereby compromise and fully and finally settle all of these matters as follows:

1.

Subject to Paragraph 2 below, Executive shall receive the following payments and benefits from the Company, provided he has not revoked this Agreement pursuant to Section 12.G:

A.

A lump sum cash payment in the amount of $6,780,000,00, representing an amount equal to the Executive's annual base salary and annual bonus paid to Executive in connection with his last full calendar year of employment before the Termination Date, such amount to be payable within thirty (30) days following the last date on which the Executive may revoke this Agreement;

B.

Subject to the approval of the Company's Board of Directors and Shareholders of any "repricing" or "reset" or "reduction in option strike price" or similar action with respect to currently outstanding stock options ("Repricing"), the Executive shall be entitled to participate in any such Repricing of his outstanding stock options to the extent that the Executive's outstanding stock options have an exercise price at or above the level of exercise price set for Repricing or are otherwise in the class of stock options eligible for such Repricing. The parties acknowledge and agree that under the terms of the Severance Agreement, all stock options held by Executive shall remain exercisable for the remainder of such stock option award's original term.

C.

For the one-year period following the Termination Date, the Executive's current medical, dental and vision benefit elections and coverage will continue by Executive's election to participate in the COBRA program. If Executive timely elects to participate in the COBRA program, then the Company will pay directly to the COBRA insurance carrier(s) up to twelve (12) months of COBRA premiums for medical, dental and vision insurance. Executive will receive paperwork from the Company's administrator, SHPS, regarding continuation of Employee's COBRA benefits and must complete and return it timely in order to activate coverage. Because Janus's disability, life and travel insurance policies do not provide coverage to anyone that is not actively employed by Janus, the Company agrees: (i) to pay Executive an amount equal to the base salary paid to Executive in 2008 in the event Executive suffers a long-term disability during the 12 months following the Termination Date and such long-term disability is consistent with the disability definition set forth in the Company's policy; and (ii) if Executive timely elects to convert his existing life insurance coverage to equivalent individual term life insurance coverage, to reimburse Executive for the cost incurred by Executive in converting life insurance coverage (including accidental death and dismemberment coverage) benefits provided under the Company's group life insurance

program to an individual term life insurance policy held directly by Executive; and (iii) that the Company shall pay the premiums for such converted life insurance for the first 12 months following the Termination Date. The Company is not required to continue or pay any amount for travel insurance coverage following the Termination Date. If Executive obtains comparable coverage during the 12 months following the Termination Date, the Company's obligation with regard to that applicable coverage shall cease as of the effective date of such successor coverage. The Employee is expected to notify Tracy Shepard, Senior Benefits Specialist, at (303) 336-4292, if other employment is secured or if the Executive is covered by another plan prior to the expiration of the applicable 12 months period.

D.

Immediate vesting of: 152,717 shares of restricted common stock, par value $0.01 per share, of the Company (the "Restricted Stock"), options to purchase 584,749 shares of the Company's common stock (the "Stock Options") and mutual fund unit awards in an amount equal to $1,751,500 (based on grant date value) (the "Mutual Fund Unit Awards"), all of which were granted under the Amended and Restated Janus Capital Group Inc. 1998 Long Term Incentive Stock Plan, the Amended and Restated Janus Capital Group Inc. 2005 Long-Term Incentive Stock Plan, or the Amended and Restated Mutual Fund Share Investment Plan, and which represent all such awards held by the Executive. The Restricted Stock, Stock Options and Mutual Fund Unit Awards shall remain subject to, and limited by, the terms of the award agreements, contracts and incentive plans underlying such awards; provided, however, that the Stock Options shall remain exercisable for the remainder of each Stock Option's original term; and

E.

Any "Accrued Obligations," as that term is defined in Section 4 of the Severance Agreement.

F.

The Executive's rights of indemnification and defense and directors and officers insurance coverage pursuant to the Company's Certificate of Incorporation, the law of the State of Delaware and relevant insurance contracts entered into with the Company and its affiliates.

G.

Executive shall be reimbursed for his reasonable business expenses incurred prior to the Termination Date in accordance with the applicable Company policy, and for his reasonable expenses in relocating his primary residence to New Jersey. The relocation reimbursement shall be capped at $50,000 in the aggregate. Upon submission of evidence that such a relocation expense has been incurred, the Company shall reimburse the expense promptly but no later than March 15 ^th  of the calendar year following the calendar year in which such expense is incurred.

H.

In accordance with, and subject to the provisos in, Section 10(f) of the Severance Agreement, the Company shall reimburse the Executive for reasonable expenses incurred by the Executive, including reasonable attorneys' fees relating to the parties' negotiation of this Separation Agreement and related releases and regulatory filings (if any).

2.

Executive acknowledges that there are no compensation or benefits of any kind due and owing to him from the Company other than those set forth above. Executive further acknowledges that the payments and benefits set forth above or as otherwise explicitly set forth in this Agreement are not due and owing to him absent this Agreement, and that such payments and benefits shall be due and owing to him only upon the execution of this Agreement and its return to the Company, provided that Executive does not revoke this Agreement, and further provided that Executive fully complies with all of his obligations under this Agreement.

3.

The Company shall deduct and withhold from all amounts payable to the Executive pursuant to this Agreement all amounts required to be deducted and withheld therefrom pursuant to any law, regulation or ordinance of the United States of America or any state or local jurisdiction therein or any foreign taxing jurisdiction. Taking into account such amounts deducted and withheld by the Company, Executive shall be solely responsible for paying all taxes for which he is liable in connection with the payments and benefits provided hereunder.

4.

Executive acknowledges and agrees that, notwithstanding any other provision contained in this Agreement, all of his obligations and the Company's rights pursuant to paragraphs 8(a) through (g) of the Severance Agreement, attached to this Agreement as Exhibit A, shall remain in full force and effect. Executive further acknowledges that the restrictions and remedies contained in paragraphs 8(a) through (g) of the Severance Agreement are reasonable and that it is his intention and the intention of the Company that such restrictions and remedies shall be enforceable to the fullest extent permissible by law.

5.

(a) Executive agrees that he shall not make, or cause to be made, any statement or communication (whether oral or written) that disparages or reflects negatively on the Company or any of its directors, officers, agents or employees. Similarly, the Company agrees that it shall instruct its directors, senior executive officers and other individuals authorized to make official communications on the Company's behalf not to make, or cause to be made, any statement or communicate any information (whether oral or written) that disparages or reflects negatively on Executive. Nothing in this paragraph shall prevent either party from testifying truthfully in any judicial process.

(b)

Effective as of the Termination Date, the Executive hereby resigns from his position as Chief Executive Officer of Janus Capital Group Inc. and any and all directorships, positions, offices and agency relationships that Executive currently holds with or for the Company or any of its direct or indirect subsidiaries and affiliates.

6.

Executive agrees he will reasonably cooperate with the Company with respect to any matters arising during or related to his employment, including but not limited to reasonable cooperation in connection with any litigation, governmental investigation, or regulatory or other proceeding which may have arisen or which may arise following the execution of this Agreement. Cooperation is not "reasonable" if it interferes with Executive's business or vacation schedule, except that in the case of such interference the Company and Executive shall cooperate to effectuate such cooperation on a schedule that is mutually agreeable. Provided , this obligation shall not extend to any litigation or other proceeding commenced by the Company against Executive or to any litigation or other proceeding commenced by Executive against the Company to enforce Executive's rights under this Agreement or with respect to any right, claim or cause of action which Executive has not released pursuant to Section 9 of this Agreement. As part of such reasonable cooperation, Executive shall provide information to the Company and its attorneys with respect to any matter arising during or related to his employment, shall make himself reasonably available to meet with Company personnel and the Company's attorneys, and shall, at the Company's reasonable request and upon reasonable notice, travel to such places as the Company may specify (for which the Company will reimburse Executive for his reasonable travel and lodging expenses). Finally, as part of such reasonable cooperation agreed to herein, Executive shall promptly notify the Company's General Counsel, within five (5) business days, of his actual receipt from any third party or governmental entity of a request for testimony and/or documents, whether by legal process or otherwise, relating to any matter arisi