Document:

ADMINISTRATIVE SERVICES AGREEMENT

     This Administrative Services Agreement (this "Agreement") is made
effective as of November 8, 1996 ("Effective Date"), by and between First
Golden American Life Insurance Company of New York ("Company") and Golden
American Life Insurance Company ("Provider").

     WHEREAS, Provider has extensive experience in life insurance business
operations; and

     WHEREAS, Company desires Provider to perform certain administrative and
special services (collectively, "services") for Company in its insurance
operations and desires further to make use in its day-to-day operations of
certain property, equipment and facilities (collectively, "facilities") of
Provider as Company may request; and

     WHEREAS, Company has executed a Commitment Agreeemnt to the New York
Insurance Department dated September 19, 1996, regarding the operations of the
Company, which contemplates agreements for services; and

     WHEREAS, Provider and Company contemplate that such an arrangement will
achieve certain operating economies and improve services to the mutual benefit
of both; and

     WHEREAS, Provider and Company wish to assure that all charges for
services and the use of facilities incurred hereunder are reasonable and in
accordance with the requirements of New York Insurance Department Regulation
No. 33 and to the extent practicable reflect actual costs and are arrived at
in a fair and equitable manner, and that estimated costs, whenever used, are
adjusted periodically, to bring them into alignment with actual costs; and

     WHEREAS, Provider and Company wish to identify the services to be
rendered to Company by Provider and the facilities to be used by Company and
to provide a method of fixing basis for determining the charges to be made to
Company;

     NOW THEREFORE, in consideration of the premises and of the mutual
promises set forth herein, and intending to be legally bound hereby, Provider
and Company agree as follows:

1.   PERFORMANCE OF SERVICES AND USE OF FACILITIES.  Subject to the terms,
     conditions and limitations of this Agreement, Provider agrees to the
     extent requested by Company to perform diligently and in a professional
     manner such services for Company as Company determines to be reasonably
     necessary in the conduct of its insurance operations and as set forth in
     Section 2 of this Agreement.

     Subject to the terms, conditions and limitations of this Agreement,
     Provider agrees to the extent requested by Company to make available to
     Company such of its facilities as Company may determine to be reasonably
     necessary in the conduct of it insurance operations, including data
     processing equipment, business property (whether owned or leased) and
     communications equipment.

     Provider agrees at all times to maintain sufficient facilities and
     trained personnel of the kind necessary to perform this Agreement.

          (a)  CAPACITY OF PERSONNEL AND STATUS OF FACILITIES.  Whenever
          Provider utilizes its personnel to perform services for Company
          pursuant to this Agreement, such personnel shall at all times remain
          employees of Provider subject solely to its direction and control,
          and Provider shall alone retain full liability to such employees for
          their welfare, salaries, fringe benefits, legally required employer
          contributions and tax obligations.

               No facility of Provider used in performing services for or
          subject to use by Company shall be deemed to be transferred,
          assigned, conveyed or leased by performance or use pursuant to this
          Agreement.

          (b)  EXERCISE OF JUDGMENT IN RENDERING SERVICES.  In providing any
          services hereunder which require the exercise of judgment by
          Provider, Provider shall perform any such service in accordance with
          any standards and guidelines Company develops and communicates to
          Provider.  In performing any services hereunder, Provider shall at
          all times act in a manner reasonably calculated to be in or not
          opposed to the best interests of Company.

          (c)  CONTROL.  The performance of services by Provider for Company
          pursuant to this Agreement shall in no way impair the absolute
          control of the business and operations of Provider or Company by
          their respective Boards of Directors.  Provider shall act hereunder
          so as to assure the separate operating identity of Company.

          (d)  USE OF DATA PROCESSING FACILITIES.  Subject to the terms
          (including any limitations and restrictions) of any applicable
          software or hardware licensing agreement then in effect between
          Provider and any licensor, Provider shall, upon termination of this
          Agreement, grant to Company a perpetual license, with payment of a
          reasonable fee, in any electronic data processing software developed
          or used by Provider in connection with the services provided to
          Company hereunder if such software is not commercially available and
          is necessary, in Company's reasonable judgment, for Company to
          perform subsequent to termination the functions provided by Provider
          hereunder.

2.   SERVICES.  It is understood that Company has certain obligations under a
     Commitment Agreement to the New York Insurance Department dated September
     19, 1996, and it is agreed that Provider shall not act or refrain from
     acting in any manner to cause Company to breach said obligations.

     The performance of Provider under this Agreement with respect to the
     business and operations of Company shall at all times be subject to the
     direction and control of the Board of Directors of Company.

     Subject to the foregoing and to the terms, conditions and limitations of
     this Agreement, Provider shall provide to Company the services set forth
     below.

          (a)  ACCOUNTING, DATA PROCESSING, TAX AND AUDITING.  Under the
          general supervision of the Board of Directors of Company, and
          provided that the records and transactions are initiated by Company,
          the final product is verified by Company and Provider shall cause
          Company's Chief Administrative Officer (or his or her designee
          within Company) to be familiar with all details of services
          provided, including, but not limited to, accounting and adjusting
          entries, Provider shall provide the following accounting services:
          preparation and maintenance of the financial statements and reports
          including annual statements on both statutory and GAAP bases and tax
          returns, and processing of the related financial records and
          transactions of Company.  Provider shall also provide such
          assistance as may be required with respect to tax and auditing
          services.

          (b)  UNDERWRITING.  Until September 18, 2001, and subject to
          underwriting standards established by Company and communicated
          to Provider, Provider shall provide underwriting services,
          including review of policy applications, assignment of policy
          numbers, MIB review, medical review and other investigations
          and actual policy issue.  All final underwriting decisions
          will be made by Company.

          (c)  CLAIMS.  Until September 18, 2001, and subject to claims
          settlement procedures established by Company and communicated to
          Provider, Provider shall provide claims services, including
          verification that the policy was in force, and review and
          investigation of claims.  Company shall exercise final approval
          authorization for all claims settlements.

          (d)  MARKETING.  Until September 18, 2001, provider shall provide
          marketing services, including market research, statistical
          analyses, agent or agency licensing support, and the administration
          of certain agency matters.

          (e)  ADVERTISING AND SALES PROMOTIONAL SERVICES.  Under the general
          supervision of the Board of Directors of Company and subject to the
          direction, control and prior approval of the responsible officers of
          Company, Provider shall provide sales services, including sales
          aids, rate guides, sales brochures, solicitation materials and such
          other promotional materials, information, assistance and advice as
          shall assist the sales efforts of Company.

          (f)  FUNCTIONAL SUPPORT SERVICES.  Provider shall provide (i)
          actuarial services, including periodic review of reserves by line of
          business, periodic audit of annuity benefit payment calculations,
          rate and profit share analysis, product development, counseling on
          reserving requirements, work required for or in support of rate
          and/or form submissions and actuarial certifications, (ii)
          telecommunications services and electronic data processing services,
          facilities and integration, including software programming and
          documentation and hardware utilization, (iii) legal services,
          including representation of Company in the prosecution or defense of
          actions and in the negotiation and preparation of contracts,
          agreements and agency documents, product development and drafting
          and filing of policies and forms, governmental relations and
          advising on regulatory compliance and rendering opinions on various
          legal matters, and (iv) purchasing and employee relations services.

          (g)  DISASTER RECOVERY PROGRAM.  Provider agrees to maintain back-up
          systems and contingency plans to assure that any work stoppages,
          interruptions, or other failures resulting from any types of
          disaster will not jeopardize the integrity of data or records
          maintained by Provider under this Agreement on behalf of the
          Company.  Provider warrants that it will maintain such systems and
          plans in conformity with prudent business practices.

3.   CHARGES.  Company agrees to reimburse Provider for services and
     facilities provided by Provider to Company pursuant to this Agreement.
     The charge to Company for such services and facilities shall include all
     direct and directly allocable expenses, reasonably and equitably
     determined to be attributable to Company by Provider, plus a reasonable
     charge for direct overhead, the amount of such charge for overhead to be
     agreed upon by the parties from time to time.

     Subject to New York Insurance Department Regulation 33, the bases for
     determining such charges to Company shall be those used by Provider for
     internal cost distribution including, where appropriate, time records
     prepared at least annually for this purpose.  Such bases shall be
     modified and adjusted by mutual agreement where necessary or appropriate
     to reflect fairly and equitably the actual incidence of cost incurred by
     Provider on behalf of Company.

     Cost analyses will be made at least annually by Provider to determine, as
     closely as possible, the actual cost of services rendered and facilities
     made available to Company hereunder.  Provider shall forward to Company
     the information developed by these analyses, and such information shall
     be used to develop bases for the distribution of expenses which more
     currently reflect the actual incidence of cost incurred by Provider on
     behalf of Company.

     Provider's determination of charges hereunder shall be presented to
     Company, and if Company objects to any such determination, it shall so
     advise Provider within thirty (30) days of receipt of notice of said
     determination.  Unless the parties can reconcile any such objection, they
     shall agree to the selection of a firm of independent certified public
     accountants which shall determine the charges properly allocable to
     Company and shall, within a reasonable time, submit such determination,
     together with the basis therefor, in writing to Provider and Company
     whereupon such determination shall be binding.  The expenses of such a
     determination by a firm of independent certified public accountants shall
     be borne equally by Provider and Company.

4.   PAYMENT.  Provider shall submit to Company within thirty (30) days of the
     end of each calendar month a written statement of the amount estimated to
     be owed by Company for services and the use of facilities pursuant to
     this Agreement in that calendar month, and Company shall pay to Provider
     within thirty (30) days following receipt of such written statement the
     amount set forth in the statement.

     Within thirty (30) days after the end of each calendar quarter, Provider
     will submit to Company a detailed written statement of the charges due
     from Company to Provider in the preceding calendar quarter, including
     charges not included in any previous statements, and any balance payable
     or to be refunded as shown in such statement shall be paid or refunded
     within fifteen (15) days following receipt of such written statement by
     Company.

5.   ACCOUNTING RECORDS AND DOCUMENTS.  Provider shall be responsible for
     maintaining full and accurate accounts and records of all services
     rendered and facilities used pursuant to this Agreement and such
     additional information as Company may reasonably request for purposes of
     its internal bookkeeping and accounting operations.  Provider shall keep
     such accounts and records insofar as they pertain to the computation of
     charges hereunder available at its principal offices for audit,
     inspection and copying by Company and persons authorized by it or any
     governmental agency having jurisdiction over Company during all
     reasonable business hours.

     With respect to accounting and statistical records prepared by Provider
     by reason of its performance under this Agreement, such records shall be
     delivered to Company within thirty (30) days from the end of the month to
     which the records pertain.

6.   OTHER RECORDS AND DOCUMENTS.  All books, records, and files established
     and maintained by Provider by reason of its performance under this
     Agreement which, absent this Agreement, would have been held by Company,
     shall be deemed the property of Company, and shall be subject to
     examination at all times by Company and persons authorized by it or any
     governmental agency having jurisdiction over Company, and shall be
     delivered to Company at least quarterly.

     With respect to original documents other than those provided for in
     Section 5 hereof which would otherwise be held by Company and which may
     be obtained by Provider in performing under this Agreement.  Provider
     shall deliver such documents to Company within thirty (30) days of their
     receipt by Provider except where continued custody of such original
     documents is necessary to perform hereunder.

7.   RIGHT TO CONTRACT WITH THIRD PARTIES.  Nothing herein shall be deemed to
     grant Provider an exclusive right to provide services to Company, and
     Company retains the right to contract with any third party, affiliated or
     unaffiliated, for the performance of services or for the use of
     facilities as are available to or have been requested by Company pursuant
     to this Agreement.

8.   CONTACT PERSON(S).  Company and Provider each shall appoint one or more
     individuals who shall serve as contact person(s) for the purpose of
     carrying out this Agreement.  Such contact person(s) shall be authorized
     to act on behalf of their respective parties as to the matters pertaining
     to this Agreement.  Effective upon execution of this Agreement, the
     initial contact person(s) shall be those set forth in Appendix A.

     Each party shall notify the other, in writing, as to the name, address
     and telephone number of any replacement for any such designated contact
     person.

9.   TERMINATION AND MODIFICATION.  This Agreement shall remain in effect
     until terminated by either Provider or Company upon giving thirty (30)
     days or more advance written notice, provided that Company shall have the
     right to elect to continue to receive data processing services and/or to
     continue to utilize data processing facilities and related software for
     up to one year from the date of such notice.  Upon termination, Provider
     shall promptly deliver to Company all books and records that are, or are
     deemed by this Agreement to be, the property of Company.

10.  SETTLEMENT ON TERMINATION.  No later than ninety (90) days after the
     effective date of Complete Termination of this Agreement, Provider shall
     deliver to Company a detailed written statement for all charges incurred
     and not included in any previous statement to the effective date of
     termination.  The amount owed or to be refunded hereunder shall be due
     and payable within thirty (30) days of receipt of such statement.

11.  ASSIGNMENT.  This Agreement and any rights pursuant hereto shall not be
     assignable by either party hereto, except as set forth herein or by
     operation of law.  Except as and to the extent specifically provided in
     this Agreement, nothing in this Agreement, expressed or implied, is
     intended to confer on any person other than the parties hereto, or their
     respective legal successors, any rights, remedies, obligations or
     liabilities, or to relieve any person other than the parties hereto, or
     their respective legal successors, from any obligations or liabilities
     that would otherwise be applicable.The representations, warranties,
     covenants and agreements contained in this Agreement shall be binding
     upon, extend to and inure to the benefit of the parties hereto, their,
     and each of their, successors and assigns respectively.

12.  GOVERNING LAW.  This Agreement shall be governed by and construed and
     enforced in accordance with the internal laws of the State of New York
     applicable to contracts made and to be performed in that State, without
     regard to principles of conflict of laws.

13.  ARBITRATION.  In the event of any irreconcilable dispute between the
     parties in connection with this Agreement, the dispute shall be submitted
     to arbitration.  Either party may submit the dispute to arbitration by
     notifying the other of its submission and naming its arbitrator.  The
     other party shall name its arbitrator within 30 days after receiving such
     notice.  If the arbitrators cannot agree, they shall choose an umpire
     through the nomination of three persons by each arbitrator, the
     declination by each arbitrator of two of the nominees named by the other
     arbitrator and the drawing of lots to choose between the two arbitrators
     within thirty days after the arbitrators and umpire, if any, are chosen.
     The arbitrators and umpire shall be disinterested insurance company
     executives.  The arbitrators are relieved from judicial formalities and
     may refrain from following strict rules of evidence.  The decisions of
     the arbitrators and umpire, or the majority of them, shall be final and
     binding upon the parties.  Each party shall bear the expense of its own
     arbitrator and one-half the other expenses of the arbitration
     proceedings.  Any arbitration shall take place in New York, New York,
     unless otherwise mutually agreed.

14.  NOTICE.  All notices, statements or requests provided for hereunder shall
     be deemed to have been duly given when delivered by hand to an officer of
     the other party, or when deposited with the U.S. Postal Service, as first
     class certified or registered mail, postage prepaid, overnight courier
     service, telex or telecopier, addressed:

     (a)  if to Company:

          Mary Bea Wilkinson
          First Golden American Life Insurance Company of
             New York
          1001 Jefferson Street, Suite 400
          Wilmington, Delaware  19801

     (b)  if to Provider:

          Myles R. Tashman
          Golden American Life Insurance Company
          1001 Jefferson Street, Suite 400
          Wilmington, Delaware  19801

     or to such other persons or places as each party may from time to time
     designate by written notice sent as aforesaid.
15.  ENTIRE AGREEMENT.  This Agreement, together with such amendments as may
     from time to time be executed in writing by the parties, constitutes the
     entire agreement and understanding between the parties in respect of the
     transactions contemplated hereby and supersedes all prior agreements,
     arrangements and understandings relating to the subject matter hereof.
     Any amendments to this Agreement are subject to prior approval by the
     Superintendent, State of New York, Department of Insurance.

16.  SECTION HEADINGS.  Section headings contained herein are for reference
     purposes only and shall not affect the meaning or interpretation of this
     Agreement.

17.  COUNTERPARTS.  This Agreement may be executed in separate counterparts,
     each of which shall be deemed an original, but all of which together
     shall constitute one and the same instrument.

18.  ADDITIONAL PROVISIONS.  Appendix A, attached hereto, is hereby
     incorporated into and made a part of this Agreement.

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
in duplicate by their respective officers duly authorized so to do, and their
respective corporate seals to be affixed hereto, as of the date and year first
above written.

FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF NEW YORK

/s/ Mary Bea Wilkinson
--------------------------------------
Mary Bea Wilkinson, Sr. Vice President  (Seal)

Attest: /s/ Myles R. Tashman
        ------------------------------
          Myles R. Tashman, Secretary

GOLDEN AMERICAN LIFE INSURANCE COMPANY

/s/ David L. Jacobson
--------------------------------------
David L. Jacobson, Sr. Vice President  (Seal)

Attest: /s/ Myles R. Tashman
        ------------------------------
          Myles R. Tashman, Secretary

                                  APPENDIX A

                        CONTACT PERSON(S) FOR PROVIDER

                                 Myles R. Tashman

                         CONTACT PERSON(S) FOR COMPANY

                              Mary Bea WilkinsonADMINISTRATIVE SERVICES AGREEMENT

     This Administrative Services Agreement (this "Agreement") is
made effective as of June 1, 1997 ("Effective Date"), by and between
First Golden American Life Insurance Company of New York ("Company")
and Equitable Life Insurance Company of Iowa("Provider").

     WHEREAS, Provider has extensive experience in life insurance
business operations; and

     WHEREAS, Company desires Provider to perform certain
administrative and special services (collectively, "services") for
Company in its insurance operations and desires further to make use
in its day-to-day operations of certain property, equipment and
facilities (collectively, "facilities") of Provider as Company may
request; and

     WHEREAS, Provider and Company contemplate that such an
arrangement will achieve certain operating economies and improve
services to the mutual benefit of both; and

     WHEREAS, Provider and Company wish to assure that all charges
for services and the use of facilities incurred hereunder are
reasonable and in accordance with the requirements of New York
Insurance Department Regulation No. 33 and to the extent practicable
reflect actual costs and are arrived at in a fair and equitable
manner, and that estimated costs, whenever used, are adjusted
periodically, to bring them into alignment with actual costs; and

     WHEREAS, Provider and Company wish to identify the services to
be rendered to Company by Provider and the facilities to be used by
Company and to provide a method of fixing basis for determining the
charges to be made to Company;

     NOW THEREFORE, in consideration of the premises and of the
mutual promises set forth herein, and intending to be legally bound
hereby, Provider and Company agree as follows:

1.   PERFORMANCE OF SERVICES AND USE OF FACILITIES.  Subject to the
     terms, conditions and limitations of this Agreement, Provider
     agrees to the extent requested by Company to perform diligently
     and in a professional manner such services for Company as
     Company determines to be reasonably necessary in the conduct of
     its insurance operations and as set forth in Section 2 of this
     Agreement.

     Subject to the terms, conditions and limitations of this
     Agreement, Provider agrees to the extent requested by Company to
     make available to Company such of its facilities as Company may
     determine to be reasonably necessary in the conduct of it
     insurance operations, including data processing equipment,
     business property (whether owned or leased) and communications
     equipment.

<PAGE>

     Provider agrees at all times to maintain sufficient facilities
     and trained personnel of the kind necessary to perform this
     Agreement.

          (a)  CAPACITY OF PERSONNEL AND STATUS OF FACILITIES.
          Whenever Provider utilizes its personnel to perform
          services for Company pursuant to this Agreement, such
          personnel shall at all times remain employees of Provider
          subject solely to its direction and control, and Provider
          shall alone retain full liability to such employees for
          their welfare, salaries, fringe benefits, legally required
          employer contributions and tax obligations.

               No facility of Provider used in performing services
          for or subject to use by Company shall be deemed to be
          transferred, assigned, conveyed or leased by performance or
          use pursuant to this Agreement.

          (b)  EXERCISE OF JUDGMENT IN RENDERING SERVICES.  In
          providing any services hereunder which require the exercise
          of judgment by Provider, Provider shall perform any such
          service in accordance with any standards and guidelines
          Company develops and communicates to Provider.  In
          performing any services hereunder, Provider shall at all
          times act in a manner reasonably calculated to be in or not
          opposed to the best interests of Company.

          (c)  CONTROL.  The performance of services by Provider for
          Company pursuant to this Agreement shall in no way impair
          the absolute control of the business and operations of
          Provider or Company by their respective Boards of
          Directors.  Provider shall act hereunder so as to assure
          the separate operating identity of Company.

          (d)  USE OF DATA PROCESSING FACILITIES.  Subject to the
          terms (including any limitations and restrictions) of any
          applicable software or hardware licensing agreement then in
          effect between Provider and any licensor, Provider shall,
          upon termination of this Agreement, grant to Company a
          perpetual license, with payment of a reasonable fee, in any
          electronic data processing software developed or used by
          Provider in connection with the services provided to
          Company hereunder if such software is not commercially
          available and is necessary, in Company's reasonable
          judgment, for Company to perform subsequent to termination
          the functions provided by Provider hereunder.

2.   SERVICES.  The performance of Provider under this Agreement with
     respect to the business and operations of Company shall at all
     times be subject to the direction and control of the Board of
     Directors of Company.

<PAGE>

     Subject to the foregoing and to the terms, conditions and
     limitations of this Agreement, Provider shall provide to Company
     the services set forth below.

          (a)  ACCOUNTING, DATA PROCESSING, TAX AND AUDITING.  Under
          the general supervision of the Board of Directors of
          Company, and provided that the records and transactions are
          initiated by Company, the final product is verified by
          Company and Provider shall cause Company's Chief
          Administrative Officer (or his or her designee within
          Company) to be familiar with all details of services
          provided, including, but not limited to, accounting and
          adjusting entries, Provider shall provide the following
          accounting services:  preparation and maintenance of the
          financial statements and reports including annual
          statements on both statutory and GAAP bases and tax
          returns, and processing of the related financial records
          and transactions of Company.  Provider shall also provide
          such assistance as may be required with respect to
          corporate tax and auditing services.

          (b)  UNDERWRITING.  Subject to underwriting standards
          established by Company and communicated to Provider,
          Provider shall provide underwriting services, including
          review of policy applications, MIB review and medical
          review.  All final underwriting decisions will be made by
          Company.

          (c)  CLAIMS.  Subject to claims settlement procedures
          established by Company and communicated to Provider,
          Provider shall provide claims consulting services.  Company
          shall exercise final approval authorization for all claims
          settlements.

          (d)  ADVERTISING AND SALES PROMOTIONAL SERVICES.  Under the
          general supervision of the Board of Directors of Company
          and subject to the direction, control and prior approval of
          the responsible officers of Company, Provider shall provide
          typesetting of promotional materials and assistance in
          fulfillment.

          (e)  FUNCTIONAL SUPPORT SERVICES.  Provider shall provide
          (i) actuarial services, including periodic review of
          reserves by line of business, periodic audit of annuity
          benefit payment calculations, rate and profit share
          analysis, counseling on reserving requirements, work
          required for or in support of rate and/or form submissions
          and actuarial certifications, (ii) legal services regarding
          general corporate matters, and (iii) employee relations
          services, payroll and benefits.

          (f)  DISASTER RECOVERY PROGRAM.  Provider agrees to
          maintain back-up systems and contingency plans to assure
          that any work stoppages, interruptions, or other failures
          resulting from any types of disaster will not jeopardize
          the integrity of data or records maintained by Provider
          under this Agreement

<PAGE>
          on behalf of the Company.  Provider warrants that it will
          maintain such systems and plans in conformity with prudent
          business practices.

3.   CHARGES.  Company agrees to reimburse Provider for services and
     facilities provided by Provider to Company pursuant to this
     Agreement.  The charge to Company for such services and
     facilities shall include all direct and directly allocable
     expenses, reasonably and equitably determined to be attributable
     to Company by Provider, plus a reasonable charge for direct
     overhead, the amount of such charge for overhead to be agreed
     upon by the parties from time to time.

     Subject to New York Insurance Department Regulation 33, the
     bases for determining such charges to Company shall be those
     used by Provider for internal cost distribution including, where
     appropriate, time records prepared at least annually for this
     purpose.  Such bases shall be modified and adjusted by mutual
     agreement where necessary or appropriate to reflect fairly and
     equitably the actual incidence of cost incurred by Provider on
     behalf of Company.

     Cost analyses will be made at least annually by Provider to
     determine, as closely as possible, the actual cost of services
     rendered and facilities made available to Company hereunder.
     Provider shall forward to Company the information developed by
     these analyses, and such information shall be used to develop
     bases for the distribution of expenses which more currently
     reflect the actual incidence of cost incurred by Provider on
     behalf of Company.

     Provider's determination of charges hereunder shall be presented
     to Company, and if Company objects to any such determination, it
     shall so advise Provider within thirty (30) days of receipt of
     notice of said determination.  Unless the parties can reconcile
     any such objection, they shall agree to the selection of a firm
     of independent certified public accountants which shall
     determine the charges properly allocable to Company and shall,
     within a reasonable time, submit such determination, together
     with the basis therefor, in writing to Provider and Company
     whereupon such determination shall be binding.  The expenses of
     such a determination by a firm of independent certified public
     accountants shall be borne equally by Provider and Company.

4.   PAYMENT.  Provider shall submit to Company within thirty (30)
     days of the end of each calendar month a written statement of
     the amount estimated to be owed by Company for services and the
     use of facilities pursuant to this Agreement in that calendar
     month, and Company shall pay to Provider within thirty (30) days
     following receipt of such written statement the amount set forth
     in the statement.

     Within thirty (30) days after the end of each calendar quarter,
     Provider will submit to Company a detailed written statement of
     the charges due from Company to Provider in the preceding
     calendar quarter, including charges not included in any previous
     statements,

<PAGE>

     and any balance payable or to be refunded as shown
     in such statement shall be paid or refunded within fifteen (15)
     days following receipt of such written statement by Company.

5.   ACCOUNTING RECORDS AND DOCUMENTS.  Provider shall be responsible
     for maintaining full and accurate accounts and records of all
     services rendered and facilities used pursuant to this Agreement
     and such additional information as Company may reasonably
     request for purposes of its internal bookkeeping and accounting
     operations.  Provider shall keep such accounts and records
     insofar as they pertain to the computation of charges hereunder
     available at its principal offices for audit, inspection and
     copying by Company and persons authorized by it or any
     governmental agency having jurisdiction over Company during all
     reasonable business hours.

     With respect to accounting and statistical records prepared by
     Provider by reason of its performance under this Agreement, such
     records shall be delivered to Company within thirty (30) days
     from the end of the month to which the records pertain.

6.   OTHER RECORDS AND DOCUMENTS.  All books, records, and files
     established and maintained by Provider by reason of its
     performance under this Agreement which, absent this Agreement,
     would have been held by Company, shall be deemed the property of
     Company, and shall be subject to examination at all times by
     Company and persons authorized by it or any governmental agency
     having jurisdiction over Company, and shall be delivered to
     Company at least quarterly.

     With respect to original documents other than those provided for
     in Section 5 hereof which would otherwise be held by Company and
     which may be obtained by Provider in performing under this
     Agreement.  Provider shall deliver such documents to Company
     within thirty (30) days of their receipt by Provider except
     where continued custody of such original documents is necessary
     to perform hereunder.

7.   RIGHT TO CONTRACT WITH THIRD PARTIES.  Nothing herein shall be
     deemed to grant Provider an exclusive right to provide services
     to Company, and Company retains the right to contract with any
     third party, affiliated or unaffiliated, for the performance of
     services or for the use of facilities as are available to or
     have been requested by Company pursuant to this Agreement.

8.   CONTACT PERSON(S).  Company and Provider each shall appoint one
     or more individuals who shall serve as contact person(s) for the
     purpose of carrying out this Agreement.  Such contact person(s)
     shall be authorized to act on behalf of their respective parties
     as to the matters pertaining to this Agreement.  Effective upon
     execution of this Agreement, the initial contact person(s) shall
     be those set forth in Appendix A.

<PAGE>

     Each party shall notify the other, in writing, as to the name,
     address and telephone number of any replacement for any such
     designated contact person.

9.   TERMINATION AND MODIFICATION.  This Agreement shall remain in
     effect until terminated by either Provider or Company upon
     giving thirty (30) days or more advance written notice, provided
     that Company shall have the right to elect to continue to
     receive data processing services and/or to continue to utilize
     data processing facilities and related software for up to one
     year from the date of such notice.  Upon termination, Provider
     shall promptly deliver to Company all books and records that
     are, or are deemed by this Agreement to be, the property of
     Company.

10.  SETTLEMENT ON TERMINATION.  No later than ninety (90) days after
     the effective date of Complete Termination of this Agreement,
     Provider shall deliver to Company a detailed written statement
     for all charges incurred and not included in any previous
     statement to the effective date of termination.  The amount owed
     or to be refunded hereunder shall be due and payable within
     thirty (30) days of receipt of such statement.

11.  ASSIGNMENT.  This Agreement and any rights pursuant hereto shall
     not be assignable by either party hereto, except as set forth
     herein or by operation of law.  Except as and to the extent
     specifically provided in this Agreement, nothing in this
     Agreement, expressed or implied, is intended to confer on any
     person other than the parties hereto, or their respective legal
     successors, any rights, remedies, obligations or liabilities, or
     to relieve any person other than the parties hereto, or their
     respective legal successors, from any obligations or liabilities
     that would otherwise be applicable.  The representations,
     warranties, covenants and agreements contained in this Agreement
     shall be binding upon, extend to and inure to the benefit of the
     parties hereto, their, and each of their, successors and assigns
     respectively.

12.  GOVERNING LAW.  This Agreement shall be governed by and
     construed and enforced in accordance with the internal laws of
     the State of New York applicable to contracts made and to be
     performed in that State, without regard to principles of
     conflict of laws.

13.  ARBITRATION.  In the event of any irreconcilable dispute between
     the parties in connection with this Agreement, the dispute shall
     be submitted to arbitration.  Either party may submit the
     dispute to arbitration by notifying the other of its submission
     and naming its arbitrator.  The other party shall name its
     arbitrator within 30 days after receiving such notice.  If the
     arbitrators cannot agree, they shall choose an umpire through
     the nomination of three persons by each arbitrator, the
     declination by each arbitrator of two of the nominees named by
     the other arbitrator and the drawing of lots to choose between
     the two arbitrators within thirty days after the arbitrators and
     umpire, if any, are chosen.  The arbitrators and umpire shall be
     disinterested insurance company executives.  The arbitrators are
     relieved from judicial formalities and may refrain from following strict

<PAGE>

     rules of evidence.  The decisions of the arbitrators and umpire,
     or the majority of them, shall be final and binding upon the parties.
     Each party shall bear the expense of its own arbitrator and one-half
     the other expenses of the arbitration proceedings.  Any arbitration
     shall take place in New York, New York, unless otherwise mutually agreed.

14.  NOTICE.  All notices, statements or requests provided for
     hereunder shall be deemed to have been duly given when delivered
     by hand to an officer of the other party, or when deposited with
     the U.S. Postal Service, as first class certified or registered
     mail, postage prepaid, overnight courier service, telex or
     telecopier, addressed:

     (a)  if to Company:

          Mary Bea Wilkinson
          First Golden American Life Insurance Company of
             New York
          230 Park Avenue, Suite 966
          Helmsley Building
          New York, New York 10169-0999

     (b)  if to Provider:

          John Merriman
          Equitable Life Insurance Company of Iowa
          700 Locust Street
          Des Moines, Iowa 50309

     or to such other persons or places as each party may from time
     to time designate by written notice sent as aforesaid.

<PAGE>

15.  ENTIRE AGREEMENT.  This Agreement, together with such amendments
     as may from time to time be executed in writing by the parties,
     constitutes the entire agreement and understanding between the
     parties in respect of the transactions contemplated hereby and
     supersedes all prior agreements, arrangements and understandings
     relating to the subject matter hereof.  Any amendments to this
     Agreement are subject to prior approval by the Superintendent,
     State of New York, Department of Insurance.

16.  SECTION HEADINGS.  Section headings contained herein are for
     reference purposes only and shall not affect the meaning or
     interpretation of this Agreement.

17.  COUNTERPARTS.  This Agreement may be executed in separate
     counterparts, each of which shall be deemed an original, but all
     of which together shall constitute one and the same instrument.

18.  ADDITIONAL PROVISIONS.  Appendix A, attached hereto, is hereby
     incorporated into and made a part of this Agreement.

     IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed in duplicate by their respective officers duly authorized so
to do, and their respective corporate seals to be affixed hereto, as
of the date and year first above written.

FIRST GOLDEN AMERICAN LIFE INSURANCE COMPANY OF NEW YORK

/s/David L. Jacobson
-------------------------------------
David L. Jacobson, Sr. Vice President  (Seal)

Attest:  /s/Myles R. Tashman
         ----------------------------
          Myles R. Tashman, Secretary

EQUITABLE LIFE INSURANCE COMPANY OF IOWA

/s/John Merriman
------------------------
John Merriman                          (Seal)

Attest:_______________________________

                             APPENDIX A

                   CONTACT PERSON(S) FOR PROVIDER

                            John Merriman

                    CONTACT PERSON(S) FOR COMPANY

                         Mary Bea Wilkinson

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