GOLDEN AMERICAN                                               MINIMUM GUARANTEED
LIFE INSURANCE COMPANY                                  WITHDRAWAL BENEFIT RIDER

Golden American is a stock company domiciled in Delaware.
--------------------------------------------------------------------------------

                     GOLDEN AMERICAN LIFE INSURANCE COMPANY
                      (HEREINAFTER CALLED WE, US AND OUR)

The  Contract  to which  this  Rider  is  attached  is  hereby  modified  by the
provisions of this Rider.  The Rider's  provisions shall control when there is a
conflict between this Rider and the Contract.

Where used in this Rider,  the term  Contract  shall mean  Certificate  when the
Rider is attached  to a  Certificate.  This Rider  becomes  effective  as of the
Contract Date unless a different  Rider Date is stated below.  If not defined in
the Contract to which this Rider is attached, the Credit shall be zero.

Benefits  provided and charges made under the terms and conditions of this Rider
are  described  below.  Under  specified  circumstances,  this Rider may provide
periodic  payments,  a commuted value, or a death benefit.  A periodic charge to
the Contract's  Accumulation Value will be made prior to the date that any Rider
benefits become payable. This Rider will remain in effect until terminated under
conditions described below.

GUARANTEED WITHDRAWAL
---------------------
On the  Rider  Date,  this  Rider is  placed in  Guaranteed  Withdrawal  Status.
Thereafter,  while this status is maintained,  this Rider does not modify rights
of the Owner under the Contract and no Rider Benefits are provided.  This status
will be maintained while all of the following conditions exist:

     1)   The MGWB Base and the Accumulation Value are both greater than zero;
     2)   The latest Annuity  Commencement  Date under the Contract has not been
          reached;
     3)   The Contract has not been surrendered or otherwise terminated; and
     4)   The Rider has not been cancelled or otherwise terminated.

If the MGWB Base is reduced to zero while the Rider is in Guaranteed  Withdrawal
Status, this Rider will terminate and no Rider benefits will be payable.

AUTOMATIC WITHDRAWAL STATUS
---------------------------
If the  Accumulation  Value is reduced to zero while the Rider is in  Guaranteed
Withdrawal Status, the status changes to Automatic Withdrawal Status ("AWS") and
the Minimum Guaranteed  Withdrawal Benefit ("MGWB") will be payable,  subject to
conditions described below. MGWB consists of:

     1)   MGWB Periodic Payments; and
     2)   MGWB Death Benefit.

If this Rider enters AWS, the Contract is modified as follows:

1) No further premiums will be accepted;
2) The Contract will provide no further  benefits other than as provided in this
   Rider; and
3) Any other Riders  attached to the Contract shall terminate  unless  specified
   otherwise in the Rider.

After this Rider enters AWS,  the Contract and this Rider will  terminate at the
earliest of the following:

1)       Payment of the final MGWB Periodic Payment;
2)       Payment of the Commuted Value; and
3)       Payment of the MGWB Death Benefit.

MGWB PERIODIC PAYMENTS
----------------------
MGWB  Periodic  Payments will be made  annually,  and will begin on the Contract
Anniversary  following  the date the Rider  enters AWS.  The amount of each MGWB
Periodic Payment equals the Maximum Annual  Withdrawal  ("MAW"),  until the MGWB
Base is reduced to zero.  If the MGWB Base is less than or equal to the  Maximum
Annual Withdrawal at the time an MGWB Periodic Payment is due, that payment will
equal the remaining MGWB Base, and it will be the final MGWB Periodic Payment.



<PAGE>


COMMUTED VALUE
--------------
At the Annuity  Commencement Date, the Commuted Value will be paid to the Owner.
Commuted  Value  will  be the  present  value  of any  remaining  MGWB  Periodic
Payments.  The  interest  rates  used to  determine  the  commuted  value of the
payments are listed or described on the Schedule Page.

MGWB DEATH BENEFIT
------------------
If the Owner dies while the Rider is in AWS, MGWB  Periodic  Payments will cease
and the MGWB Death Benefit will be payable.

If the Rider Death Benefit  Option is One (1) and the MAW was never  exceeded in
any year,  the MGWB Death Benefit will be the death benefit  provided  under the
terms of the Contract,  determined by treating the Alternate  Death Benefit,  if
applicable,  and the  Accumulation  Value as zero and MGWB Periodic  Payments as
Special Partial Withdrawals.

If the Rider Death Benefit Option is Two (2) or the MAW was ever  exceeded,  the
MGWB Death Benefit shall be the remaining MGWB Base.

MGWB BASE
---------
On the Rider Date, the MGWB Base equals 100% of Eligible Premiums plus [100%] of
any  applicable  credits.  Thereafter,  the MGWB Base is increased by payment of
additional Eligible Premiums, adjusted for any Partial Withdrawals and any Rider
benefits paid.

Eligible  Premiums are premiums paid within 2 years after the Rider Date. If the
Rider Date is other than the Contract Date,  Eligible Premiums also includes the
Accumulation Value on the Rider Date.

The MGWB Base is calculated  separately for Special Funds and non-Special Funds.
The MGWB Base  equals  the sum of (1) the lesser of the MGWB Base  allocated  to
Special Funds and the Accumulation  Value in Special Funds and (2) the MGWB Base
for non-Special Funds.

PARTIAL WITHDRAWAL ADJUSTMENTS
------------------------------
The MGWB Base will be reduced for any withdrawals  taken.  For withdrawals up to
the Maximum Annual  Withdrawal in a Contract year, the MGWB Base for non-Special
Funds will be reduced by the amount of the withdrawal. Any withdrawals in excess
of the Maximum Annual Withdrawal will reduce the MGWB Base for non-Special Funds
by  the  proportion  that  the  withdrawal  bears  to  the  Accumulation  Value.
Withdrawals  from Special Funds will reduce MGWB Base for Special Funds prorata.
Any MGWB  Periodic  Payments  will  reduce  the MGWB  Base by the  amount of the
payment.

SPECIAL FUNDS
-------------
Where used in this Rider the Special  Funds if any,  are listed on the  Schedule
Page.  We reserve the right to classify  newly  available  divisions  as Special
Funds from the date of  availability  to the Owner.  We may also  reclassify  an
existing   division  as  Special   Funds  or  remove  such   designation.   Such
reclassification  shall be made with 30 days notice to Contract Owners, and will
apply to amounts  transferred or otherwise added to such division after the date
of change.

TRANSFERS
---------
Net  transfers  from  Special to  non-Special  Funds  will  reduce the MGWB Base
allocated to Special Funds on a pro-rata  basis.  There will be a  corresponding
increase in the MGWB Base for  non-Special  Funds.  The amount of such  increase
will equal the lesser of the  reduction in MGWB Base  allocated to Special Funds
and the net Accumulation Value transferred.

Net transfers from non-Special  Funds will reduce the MGWB Base allocated to the
non-Special Funds on a prorata basis. There will be a corresponding  increase in
the MGWB Base for Special Funds.  If applicable,  the resulting  increase in the
MGWB Base  allocated to Special  Funds will equal the reduction in the MGWB Base
allocated to non-Special Funds.



<PAGE>


MAXIMUM ANNUAL WITHDRAWAL ("MAW")
---------------------------------
The initial Maximum Annual Withdrawal is on the Schedule Page. If withdrawals in
any  Contract  Year exceed the Maximum  Annual  Withdrawal,  the Maximum  Annual
Withdrawal  available in subsequent years will be reduced by the proportion that
the withdrawal bears to the Accumulation Value.

MGWB CHARGE

The rate of the MGWB  Charge is stated in the  Schedule.  The MGWB charge is the
rate multiplied by [100%] of the Eligible  Premiums plus 100% of any Credits and
is deducted quarterly,  in arrears, from the Accumulation Value. Deduction Dates
are measured from the Contract  Date.  The MGWB Charge will be deducted from the
Accumulation  Value in the  Variable  Separate  Account  divisions,  in the same
proportion  that the  accumulation  value in each  division  bears to the  total
Accumulation  Value in the Variable Separate  Account.  If there is insufficient
accumulation  value in the Variable Separate  Account,  charges will be deducted
from the Fixed Division  nearest  maturity.  An MVA adjustment may be applied to
charges deducted from the Fixed Division.

We may charge a charge less than the maximum  charge.  The maximum charge on the
Rider Date is stated on the Schedule.

If the  Contract  to which this Rider is attached is  terminated  by  surrender,
cancellation or application of the Contract's  Value to an Income  Benefit,  the
Rider Charge for the current period will be deducted from the Accumulation Value
prior to  termination  of the  Contract.  Charges will be  calculated  using the
Eligible Premiums immediately prior to termination.

DEATH OF OWNER
--------------
At the death of any Owner while this Rider is in Guaranteed  Withdrawal  Status,
this Rider  terminates and no further Rider benefits are provided.  However,  if
the surviving  spouse of the deceased Owner continues the Contract as their own,
this Rider will continue in effect.

CHANGE OF OWNER
---------------
Except as provided  above under Death of Owner,  upon change of Owner while this
Rider is in  force,  this  Rider  shall  terminate  and no Rider  benefits  will
thereafter be payable.

This  Rider  has no  surrender  value  or  other  non-forfeiture  benefits  upon
termination. This Rider may not be cancelled unless the Contract is terminated.

Rider Date: _________________________
(if other than Contract Date)

Signed:        /s/ Barnett Chernow
                   ---------------
                   Barnett Chernow