Exhibit 8(hh)
July 1, 2003
Janus Investment Fund
000 Xxxxxxxx Xxxxxx
Xxxxxx, Xxxxxxxx 00000
Gentlemen:
As you know, Section 4 of our Investment Advisory Agreement, dated April 3, 2002
(the "Agreement"), provides for compensation to Janus Capital Management LLC
("JCM") for investment advisory services rendered to Janus Money Market Fund
(the "Fund"). This letter is to inform you that JCM will waive one-half of its
fee due from July 1, 2003, until March 1, 2005 under the Agreement. Accordingly,
the effective annual rate for the calculation of the fee due JCM under Section 4
of the Agreement will be 0.10% of the Fund's average daily net assets.
This waiver will continue in effect until March 1, 2005 unless extended.
This waiver is applicable only to the Fund and shall not be applicable to any
other series of the Trust, whether now existing or hereafter created.
JANUS CAPITAL MANAGEMENT LLC
By: /s/ Xxxxxx X. Xxxxx
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Xxxxxx X. Xxxxx
Vice President
