EXHIBIT 8(f)
LETTER AGREEMENT
September 10, 1996
Xx. Xxxxxx XxXxxxx, Vice President
State Street Bank and Trust Company
One Heritage Drive
Mutual Fund Services X0 Xxxxx
Xxxxx Xxxxxx, XX 00000
Dear Xx. XxXxxxx:
In connection with our recent discussions, Janus Aspen Series (the "Fund")
proposes that the first paragraph of Section 1 of the Custodian Contract between
the Fund and State Street Bank and Trust Company ("State Street") dated
September 13, 1993, is hereby amended to read as follows:
The Fund hereby employs the Custodian as the Custodian of its assets,
including securities it desires to be held in places within the United
States ("domestic securities") and securities it desires to be held outside
the United States ("foreign securities") and all cash or cash equivalents
incidental thereto, pursuant to the provisions of the Declaration of Trust.
The Fund agrees to deliver to the Custodian all foreign and domestic
securities and cash owned by it from time to time, all payments of income,
payments of principal or capital distributions received by it with respect
to all foreign and domestic securities owned by the Fund from time to time,
and the cash consideration received by the Fund for such new or treasury
shares of capital stock as it may issue or sell from time to time. The
Custodian shall not be responsible for any property of the Fund held or
received by the Fund and not delivered to the Custodian.
In addition, to reflect changes in applicable law, the Fund proposes that
Section 14 of the Custodian Contract be amended to read as follows:
Effective Period, Termination and Amendment. This Contract shall become
effective as of its execution, shall continue in full force and effect
until terminated as hereinafter provided, may be amended at any time by
mutual agreement of the parties hereto and may be terminated by either
party by an instrument in writing delivered or mailed, postage pre-paid, to
the other party, such termination to take effect not sooner than thirty
(30) days after the date of such delivery or mailing; provided, however,
that the Custodian shall not with respect to a Portfolio act under Section
2.10 hereof in the absence of receipt of an initial certificate of the
Secretary or an Assistant Secretary that the Board of Trustees of the Fund
has approved the initial use of a particular Securities System by such
Portfolio, as required by Rule 17f-4 under the Investment Company Act of
1940, as amended, and that the Custodian shall not with respect to a
Portfolio act under Section 2.11 hereof in the absence of receipt of an
initial certificate of the Secretary or an Assistant Secretary that the
Board of Trustees has approved the initial use of the Direct Paper System
by such Portfolio; provided further, however, that the
Xx. Xxxxxx XxXxxxx, Vice President
State Street Bank and Trust Company
September 10, 1996
Page 2
Fund shall not amend or terminate this Contract in contravention of any
applicable federal or state regulations, or any provision of the
Declaration of Trust, and further provided, that the Fund on behalf of one
or more of the Portfolios may at any time by action of its Board of
Trustees (i) substitute another bank or trust company for the Custodian by
giving notice as described above to the Custodian, or (ii) immediately
terminate this Contract in the event of the appointment of a conservator or
receiver for the Custodian by the Comptroller of the Currency or upon the
happening of a like event at the direction of an appropriate regulatory
agency or court of competent jurisdiction. Upon termination of the
Contract, the Fund on behalf of each applicable Portfolio shall pay to the
Custodian such compensation as may be due as of the date of such
termination and shall likewise reimburse the Custodian for its costs,
expenses and disbursements.
Except as otherwise expressly amended and modified herein, the provisions
of the Custodian Contract shall remain in full force and effect. Please
acknowledge State Street's agreement to the foregoing by returning to me a copy
of this letter executed by the appropriate person in the space provided below.
JANUS ASPEN SERIES
By: /s/ Xxxxxx Xxxxxx Xxxxx
Xxxxxx Xxxxxx Xxxxx, Secretary
Acknowledged and agreed to this 19th day of September, 0000
XXXXX XXXXXX BANK AND TRUST COMPANY
By: /s/ Xxxxxx XxXxxxx
Name: Xxxxxx XxXxxxx
Title: Vice President
CC: Xxxxx Goodbarn
Xxxxx X'Xxxxxxxx
Xxxxxxx Xxxxxxxxx
Xxxxx Xxxxxx
Xxx Xxxxxxxx
