Early retirement…

October 12, 2004

Another top executive at fund giant Janus (JNS) is stepping down and like the two that have already left the company best known for the fund trading scandal, R. Timothy Hudner will receive some nice parting gifts when he officially leaves Janus next June. In a 20-page contract that Janus included in a recent 8-K, the company said that Hudner, who was 44 as of the last proxy, was stepping down as a senior vp for operations and technology effective Oct. 5 and would head up a Janus subsidiary called Capital Group Partners that provides commercial printing and graphic design services. Despite the lesser responsibility, he’ll continue to collect the same salary — $350K — and be eligible for up to $700K for his 2004 bonus. Come June, when he turns to consulting, Janus will pay Hudner $29,000 a month through December and he’ll also collect his 2005 bonus, which is guaranteed at $700K.

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