Document:

THE ASDA COLLEAGUE
SHARE OWNERSHIP PLAN 1999

Cover

 

CONTENTS

                                                                                                                                                                                                                                                                                                                         

			Page
	1.	Definitions and Interpretation	1
	2.	Eligibility	2
	3.	Grant of Options	2
	4.	Limit	3
	5.	Exercise of Options	3
	6.	Takeover, Reconstruction and Winding-up	5
	7.	Variation of Capital	6
	8.	Alterations	7
	9.	Miscellaneous	8

Contents

 

 

	1.	Definitions and Interpretation
	1.1	In this Plan, unless the context otherwise
    requires:
		"the Board"	means the board of directors of the Company or a committee appointed by
    such board of directors;
		"the Company"	means ASDA Group plc (registered in England and Wales No. 1396513);
		"the Grant Date"	in relation to an option means the date on which the option was granted;
		"Group Member"	means a Participating Company or a body corporate which is (within the
    meaning of section 736 of the Companies Act 1985) the Company’s holding company or a
    subsidiary of the Company’s holding company;
		"the New York Stock Exchange"	means the New York Stock Exchange, Inc. 
		"Participant"	means a person who holds an option granted under the Plan;
		"the Parent Company"	means Wal-Mart Stores, Inc.;
		"Participating Company"	means the Company or any Subsidiary;
		"the Plan"	means the ASDA Colleague Share Ownership Plan 1999 as herein set out but
    subject to any alterations or additions made under Rule 8 below;
		"Schedule 9"	means Schedule 9 to the Taxes Act 1988;
		"Subsidiary"	means a body corporate which is a subsidiary of the Company within the
    meaning of section 736 of the Companies Act 1985 and is under the control of the Company
    within the meaning of section 840 of the Taxes Act 1988;
		"the Taxes Act 1988"	means the Income and Corporation Taxes Act 1988;
		and expressions not otherwise defined herein have
    the same meanings as they have in Schedule 9.
	
	Page 1

	
	
	1.2	Any reference in the Plan to any enactment
    includes a reference to that enactment as from time to time modified, extended or
    re-enacted.
	2.	Eligibility	
	2.1	Subject to sub-rule 2.3 below, a person is
    eligible to be granted an option under the Plan if he is a qualifying employee of a
    Participating Company.
	2.2	For the purposes of sub-rule 2.1 above a "qualifying
    employee" is an employee of a Participating Company (other than one who is a
    director of a Participating Company) who has been continuously employed by a Participating
    Company for a period of at least 12 months (or such lesser period as the Board may
    determine) ending on the Grant Date.
	2.3	A person is not eligible to be granted an option
    under the Plan at any time when he is not eligible to participate in the Plan by virtue of
    paragraph 8 Schedule 9 (material interest in close company).
	3.	Grant of Options	
	3.1	Subject to Rule 4 below, the Board may grant or
    procure the grant to any person who is eligible to be granted an option under the plan an
    option to acquire shares in the Parent Company which satisfy the requirements of
    paragraphs 10 to 14 of Schedule 9 (fully paid up, unrestricted, ordinary share capital).
    All options will be granted by deed.
	3.2	The price at which shares may be acquired by the
    exercise of options granted under the Plan shall be determined by the Board before the
    grant thereof.
	3.3	The price at which shares may be so acquired
    shall not be less than:
		(A)	if shares of the same class as those shares are
    listed on the New York Stock Exchange the average of the middle-market quotations of
    shares of that class (as published in the Wall Street Journal) on the last dealing day
    immediately preceding the date on which the options were granted (or such other dealing
    days as may be agreed with the Inland Revenue); and
		(B)	if paragraph (a) above cannot apply, the market
    value (within the meaning of Part VIII of the Taxation of Chargeable Gains Act 1992)
    of shares of that class, as agreed in advance for the purposes of the Plan with the Shares
    Valuation Division of the Inland Revenue, on the Grant Date (or such other day as may be
    agreed with the Inland Revenue).
	3.4	Subject to Rule 5.4 below, an option granted
    under the Plan to any person shall not be capable of being transferred by him and shall
    lapse forthwith if it is so transferred or if he is adjudged bankrupt.
	
	Page 2

	
	
	4.	Limit
	4.1	No person shall be granted options under the Plan
    which would, at the time they are granted, cause the aggregate market value of the shares
    which he may acquire in pursuance of options granted to him under the Plan or under any
    other share option scheme, not being a savings-related share option scheme, approved under
    Schedule 9 and established by the company or by any associated company of the Company (and
    not exercised) to exceed or further exceed the lesser of:
		(A)	30,000 Pounds Sterling; or
		(B)	if there were relevant emoluments for the
    preceding year of assessment, four times the amount of the relevant emoluments for the
    current or preceding year of assessment (whichever of those years gives the greater
    amount); or
		(C)	if there were no relevant emoluments for the
    preceding year of assessment, four times the amount of the relevant emoluments for the
    period of 12 months beginning with the first day during the current year of assessment in
    respect of which there are relevant emoluments;
		and for this purpose the relevant emoluments are
    such of the emoluments of the office or employment by virtue of which the person is
    eligible to participate in the Plan and of any other office or employment held by him with
    a company which is a Participating Company as are liable to be paid under deduction of tax
    pursuant to section 203 of the Taxes Act 1988 (PAYE), after deducting from them
    amounts included by virtue of Chapter II of Part V thereof (benefits in kind).
	4.2	For the purposes of this Rule, the market value
    of the shares in relation to which an option was granted:
		(A)	in the case of an option granted under the Plan,
    shall be taken to be equal to their market value or average market value on the day or
    days by reference to which the price at which shares may be acquired by the exercise
    thereof was determined in accordance with Rule 3.3 above; and
		(B)	in the case of an option granted under any other
    approved scheme, shall be calculated as at the time when it was granted or, in a case
    where an agreement relating to the shares has been made under paragraph 29 of Schedule 9,
    such earlier time or times as may be provided in the agreement.
	4.3	Any option granted under the Plan shall be
    limited and take effect so that the above limit is complied with.
	5.	Exercise of Options
	5.1	The exercise of any option granted under the Plan
    shall be effected in such form and manner as the Board may from time to time prescribe.
	
	Page 3

			
			
	5.2	In this Rule and in Rule 6 below, in relation to
    an option.
		(A)	"the exercise period" means the
    period of two months immediately following the expiration of the relevant number of
    complete years beginning on the Grant Date (or such other period as the Board may have
    determined before the grant of the option); and
		(B)	"the relevant fraction" means
    the number of complete years in the period beginning on the Grant Date and ending
    immediately before the day on which the option first becomes exercisable divided by the
    relevant number (or such other fraction as the Board may have determined before the grant
    of the option);
		and in this sub-rule "the relevant number"
    means such number as the Board shall have determined for this purpose before the grant of
    the option.
	5.3	Subject to sub-rules 5.4 and 5.5 below and to
    Rule 6 below, an option granted under the Plan may be exercised only during the exercise
    period.
	5.4	If any Participant dies before the end of the
    exercise period, then:
		(A)	any option granted to him under the Plan may,
    subject to sub-rule 5.6 below, be exercised by his personal representatives within 12
    months after the date of his death, and to the extent that it is not exercised within that
    period shall (notwithstanding any other provision of the Plan) lapse on the expiration
    thereof;
		(B)	if the option shall not have become exercisable
    before his death by virtue of some other provision hereof, the number of shares in respect
    of which it may be exercised may not exceed the relevant fraction of the number of shares
    in respect of which it was granted.
	5.5	If any Participant ceases to be an employee of a
    Group Member before the beginning of the exercise period by reason of retirement either
    through ill health or incapacity or on or after reaching the age at which he is bound to
    retire in accordance with the terms of his contract of employment, then:
		(A)	any option granted to him under the Plan may be
    exercised within the period which shall expire three months after his so ceasing, and to
    the extent that it is not exercised within that period shall, subject to sub-rule 5.4
    above if he dies during that period, lapse on the expiration thereof;
		(B)	the number of the shares in respect of which the
    option may be so exercised may not exceed the relevant fraction of the number of shares in
    respect of which it was granted.
		If any Participant ceases to be an employee of a
    Group Member otherwise than by reason of death or as mentioned in sub-rule 5.5 above, any
    option granted to him under the Plan which shall have become exercisable by virtue of any
    provision hereof may be exercised in accordance with that provision, and any other option
    so granted to him shall immediately lapse.
			
	Page 4

	
			
	5.7	A Participant shall not be treated for the
    purposes of this Rule as ceasing to be an employee of a Group Member until such time as he
    is no longer an employee of any Group Member, and a female Participant who ceases to be
    such an employee by reason of pregnancy or confinement and who exercises her right to
    return to work under the Employment Rights Act 1996 shall be treated for those purposes as
    not having ceased to be such an employee.
	5.8	A Participant shall not be eligible to exercise
    an option under the Plan at any time when he is not eligible to participate in the Plan by
    virtue of paragraph 8 of Schedule 9 (material interest in close company).
	5.9	Within 30 days after an option under the Plan has
    been exercised by any person, the Board on behalf of the Company shall procure that the
    appropriate number of shares in respect of which the option has been exercised shall be
    either issued and allotted or transferred to the Participant (or his nominee), subject to
    obtaining such consents or approvals as may be required by any competent authority under
    regulations or enactments for the time being in force.
	5.10	Shares issued pursuant to the Plan shall rank
    pari passu in all respects with shares of common stock of the Parent Company then in
    issue, save as regards any rights attaching to such shares by reference to a record date
    prior to the date on which they are issued and allotted.
	5.11	The Company shall apply or procure that an
    application is made to the New York Stock Exchange for the admission to listing of all
    shares issued pursuant to the exercise of any Option provided that its ordinary shares are
    then listed on the New York Stock Exchange.
	6.	Takeover, Reconstruction and Winding-up
	6.1	Sub-rule (2) below applies if, before the
    beginning of the exercise period,
		(A)	any person obtains control of the Parent Company
    (within the meaning of section 840 of the Taxes Act 1988) as a result of making a general
    offer to acquire shares in the Company, or having obtained such control makes such an
    offer,
		(B)	the Parent Company passes a resolution for
    voluntary winding up, or
		(C)	an order is made for the compulsory winding up
    of the Parent Company;
		and for the purposes of paragraph (A) above a
    person shall be deemed to have obtained control of the Parent Company if he and others
    acting in concert with him have together obtained control of it.
		
	Page 5

		
		
	6.2	Where this sub-rule applies -
		(A)	any option granted under the Plan may, subject
    to Rule 5.6 above, be exercised within one month of the event in question (or, if more
    than one such event occurs, the earliest such event), and to the extent that it is not
    exercised within that period shall, subject to Rule 5.4 above if he dies during that
    period, lapse on the expiration thereof;
		(B)	the number of the shares in respect of which the
    option may be so exercised may not exceed the relevant fraction of the number of shares in
    respect of which it was granted.
	6.3	If any company ("the acquiring company"):
		(A)	obtains control of the Parent Company as a
    result of making -
			(i)	a general offer to acquire the whole of the issued shares of
    the Parent Company which is made on a condition such that if it is satisfied the person
    making the offer will have control of the Parent Company,
			(ii)	a general offer to acquire all the shares in the Parent
    Company which are of the same class as the shares which may be acquired by the exercise of
    options granted tinder the Plan,
		any Participant may at any
    time within the appropriate period (which expression shall be construed in accordance with
    paragraph 15(2) of schedule 9), by agreement with the acquiring company, release any
    option granted under the Plan which has not lapsed ("the old option") in
    consideration of the grant to him of an option ("the new option") which
    (for the purposes of that paragraph) is equivalent to the old option but relates to shares
    in a different company (whether the acquiring company itself or some other company falling
    within paragraph 10(b) or (c) of Schedule 9).

	6.4	The new option shall not be regarded for the
    purposes of sub-rule (3) above as equivalent to the old option unless the conditions set
    out in paragraph 15(3) of Schedule 9 are satisfied, but so that the provisions of the Plan
    shall for this purpose be construed as if:-
		(A)	the new option were an option granted under the
    Plan at the same time as the old option; and
		(B)	except for the purposes of the definitions of
    "Group Member", "Participating Company" and "Subsidiary"
    in Rule 1.1 above and the references to "the Board" in Rule 5.2 above,
    the expression "the Parent Company" were defined as "a company whose
    shares may be acquired by the exercise of options granted under the Plan".
	7.	Variaton of Capital
	7.1	Subject to sub-rule 7.3 below, in the event of
    any increase or variation of the share capital of the Parent Company (whenever effected),
    the Board may make such adjustments as it considers appropriate under sub-rule 7.2 below.
		
	Page 6

		
		
	7.2	An adjustment made under this sub-rule shall be
    to the following:
		(A)	the number of shares in respect of which any
    option granted under the Plan may be exercised;
		(B)	the price at which shares may be acquired by the
    exercise of any such option;
		(C)	where any such option has been exercised but no
    shares have been transferred pursuant to such exercise, the number of shares which may be
    so transferred and the price at which they may be acquired.
	7.3	At a time when the Plan is approved by the Inland
    Revenue under Schedule 8, no adjustment under sub-rule 7.2 above shall be made without the
    prior approval of the Inland Revenue.
	7.4	Where any adjustment is made under sub-rule 7.2
    above to the number of shares in respect of which an option may be exercised or which may
    be transferred pursuant to its exercise, corresponding adjustments shall for the purposes
    of Rules 5.4(B), 5.5(B) and 6.2(B) be deemed to be made to the number of shares in respect
    of which the option was granted and to the number of shares (if any) in respect of which
    it has been exercised.
	7.5	As soon as reasonably practicable after making
    any adjustment under sub-rule 7.2 above, the Board shall give notice in writing thereof to
    any Participant affected thereby.
	8.	Alterations
	8.1	Subject to sub-rule 8.2 below, the Board may at
    any time alter or add to all or any of the provisions of the Plan, or the terms of any
    option granted under it, in any respect (having regard to the fact that, if an alteration
    or addition is made at a time when the Plan is approved by the Inland Revenue under
    Schedule 9, the approval will not thereafter have effect unless the Inland Revenue has
    approved the alteration or addition).
	8.2	No alteration or addition to the disadvantage of
    any Participant shall be made under sub-rule 8.1 above unless:
		(A)	the Board shall have invited every relevant
    Participant to give an indication as to whether or not he approves the alteration or
    addition, and
		(B)	the alteration or addition is approved by a
    majority of those Participants who have given such an indication.
	8.3	As soon as reasonably practicable after making
    any alteration or addition under sub-rule 8.1 above, the Board shall give notice in
    writing thereof to any Participant affected thereby and, if the Plan is then approved by
    the Inland Revenue under Schedule 9, to the Inland Revenue.
		
	Page 7

		
		
	9.	Miscellaneous
	9.1	If any Participant appoints any person to act on
    his behalf for the purposes of the Plan, such person may:
		(A)	exercise any option granted to the Participant
    under the Plan;
		(B)	make such arrangements for funding the exercise
    as may be appropriate (including borrowing money on reasonable terms);
		(C)	sell sufficient of the shares acquired by the
    exercise to enable the costs of exercise (including the repayment of any loan and interest
    thereon) to be met out of the net proceeds of sale; and
		(D)	take any other action which he reasonably
    considers to be necessary or desirable in connection with the above.
	9.2	The rights and obligations of any individual
    under the terms of his office or employment with any Group Member shall not be affected by
    his participation in the Plan or any right which he may have to participate therein, and
    an individual who participates therein shall waive any and all rights to compensation or
    damages in consequence of the termination of his office or employment for any reason
    whatsoever insofar as those rights arise or may arise from his ceasing to have rights
    under or be entitled to exercise any option under the Plan as a result of such
    termination.
	9.3	In the event of any dispute or disagreement as to
    the interpretation of the Plan, or as to any question or right arising from or related to
    the Plan, the decision of the Board shall be final and binding upon all persons.
	9.4	In the event that shares are transferred to a
    Participant in pursuance of any option granted under the Plan, the Participant shall, if
    so required by the person making the transfer, join that person in making a claim for
    relief under section 165 of the Taxation of Chargeable Gains Act 1992 in respect of the
    disposal made by him in effecting such transfer.
	9.5	Any notice or other communication under or in
    connection with the Plan may be given by personal delivery or by sending the same by post,
    in the case of a company to its registered office, and in the case of an individual to his
    last known address, or, where he is an employee of a Group Member, either to his last
    known address or to the address of the place of business at which he performs the whole or
    substantially the whole of the duties of his office or employment.
		
	Page 8|||GOLDEN
  |||||AMERICAN                             403(b) RIDER
|||||||LIFE INSURANCE
   ||||COMPANY

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

The following language amends and takes precedence over contrary language in the
Contract to which it is attached.  The Effective Date of this Rider shall be the
later of January 1, 2002, or the Contract Date.

On the basis of the application for which this Contract is issued and to which
this Rider is attached, the Contract is intended to qualify under Section 403(b)
of the Internal Revenue Code. In the event of any conflict between the
provisions of this Rider and the Contract, the provisions of this Rider will
control.

1.   All references in this Rider to:

     (a)  "IRC" means the Internal Revenue Code of 1986, as amended from time to
          time.
     (b)  "Contract"  means the Contract or  Certificate  to which this Rider is
          attached.
     (c)  "Employee  or Owner"  means the Owner of the  Contract  to which  this
          Rider is attached.
     (d)  "Designated  Beneficiary"  means the beneficiary named by the Owner in
          the Contract.
     (e)  "We", "our", and "us" means Golden American Life Insurance Company.

2.   This  Contract  is  nontransferable.  Other than to us, it may not be sold,
     assigned, discounted or pledged as collateral for a loan or as security for
     the performance of an obligation or for any other purpose.

3.   This Contract is valid only if it is purchased:

     (a)  for an Employee by an employer as described  in IRC Section  501(c)(3)
          which is exempt from income tax under IRC Section 501(a); or
     (b)  for an Employee who performs services for an educational  organization
          described in IRC Section  170(b)(1)(A)(ii),  by an employer which is a
          state,  a  political   subdivision  of  a  state,   or  an  agency  or
          instrumentality of a state or political subdivision thereof; or
     (c)  by an individual in a rollover as permitted by IRC Sections 402(c)(1),
          403(b)(8), 403(b)(10) and 408(d)(3); or
     (d)  by an  individual in a direct  transfer  meeting the  requirements  of
          Internal Revenue Service Rev. Rul. 90-24.

4.   The premium  payments  applicable to this contract must be  attributable to
     the  Employee's  salary  reduction  agreement,  or  to  permitted  employer
     contributions,  except  in the case of a  rollover  contribution  or direct
     transfer.  The  premium  payments  must be in cash.  Except as  provided in
     Paragraph 5 below,  the total of applicable  premium payments made pursuant
     to a salary  reduction  agreement  for any tax year  shall not  exceed  the
     lesser of:

     (a)  $11,000 (or such higher  amount as may be permitted  under IRC Section
          402(g)(1)  in effect  for such tax year,  except to the  extent of any
          alternative limitation permitted under IRC Section 402(g)(7)); or
     (b)  the applicable limit described in IRC Section 415.

     Except  as  provided  in  Paragraph  5 below or in the  case of a  rollover
     contribution or direct  transfer,  total premium  payments in any tax year,
     whether  attributable to the Employee's salary reduction  agreement,  or to
     permitted  employer  contributions,  shall not exceed the applicable  limit
     described in IRC Section 415.

     In  addition,  premium  payments  under this  Contract may not exceed those
     permitted under the incidental death benefit rules of Treasury  Regulations
     Section  1.401-1(b)(1)(i),  as interpreted by applicable  Revenue  Rulings.
     Accordingly,  in no event shall the aggregate amount of premiums under this
     Contract,  at any time,  exceed fifty percent (50%) of the aggregate amount
     of  the  cumulative  employer  contributions  (including  salary  reduction
     contributions)  allocated to the Employee  under the tax sheltered  annuity
     program with respect to which this Contract is purchased.

     We reserve the right to refund  premiums when  necessary to comply with the
     foregoing limits.

GA-RA-1039

<PAGE>

5.   An Employee who is eligible to make contributions to this Contract pursuant
     to a salary  reduction  agreement  for any year and who has attained age 50
     before  the  close  of  the  year  shall  be  eligible  to  make   catch-up
     contributions  in accordance  with, and subject to the  limitations of, IRC
     Section 414(v). Such catch-up contributions shall not be taken into account
     for purposes of the  provisions of the Contract  implementing  the required
     limitations of IRC Sections 402(g),  403(b) and 415. The Contract shall not
     be treated as failing to satisfy the requirements of IRC Section 403(b)(12)
     by reason of the making of such catch-up contributions.

6.   To the  extent  attributable  to  contributions  made  pursuant  to  salary
     reduction  agreements,  distribution of the assets of this Contract may not
     be made before the Owner:

         (a)      attains age 59 1/2;
         (b)      has a severance from employment;
         (c)      dies;
         (d)      becomes disabled; or
         (e)      incurs a financial hardship (limited to contributions only,
                  not earnings).

     The above  restrictions  do not apply with  respect to that  portion of the
     value of the  Contract  that is equal to the  value of the  Contract  as of
     December 31, 1988.

7.   (a)  Notwithstanding  any  provision of this Contract to the contrary,
          the distribution of the Owner's interest in the Contract shall be made
          in accordance  with the  requirements  of IRC Sections  403(b)(10) and
          401(a)(9) and the regulations there under, the provisions of which are
          herein incorporated by reference,  including Section 1.403(b)-3 of the
          Income Tax Regulations.  The portion of this Contract that is equal to
          the undistributed value of the Contract as of December 31, 1986, shall
          be distributed in accordance with the incidental benefit  requirements
          described   in  Q&A-3  of  Section   1.403(b)-3   of  the  Income  Tax
          Regulations.  The required minimum distributions for this Contract may
          be  withdrawn  from  another  IRC  403(b)  contract  of the  Owner  in
          accordance  with  Q&A-4  of  Section  1.403(b)-3  of  the  Income  Tax
          Regulations.

     (b)  If distributions  are made in the form of an annuity on an irrevocable
          basis (except for  acceleration),  then distributions must satisfy the
          requirements  of  Q&A-4 of  Section  1.401(a)(9)-6T  of the  Temporary
          Income Tax Regulations, rather than Paragraphs 7(c), 7(d), 7(e), and 8
          below.

     (c)  The  Owner's  entire  interest  in the  Contract  will  commence to be
          distributed no later than the Owner's  "required  beginning date." The
          Owner's  "required  beginning  date"  will be the  first  day of April
          following  the  later  of:  (i) the  calendar  year in which the Owner
          attains  age 70 1/2,  or (ii) the  calendar  year in which  the  Owner
          retires  from  employment  with  the  employer  maintaining  the  plan
          applicable to this Contract.  The Owner's "first distribution calendar
          year" will be the  calendar  year  immediately  preceding  the Owner's
          required beginning date.

     (d)  The amount to be  distributed  each year,  beginning  with the Owner's
          first  distribution  calendar year and continuing  through the year of
          death,  shall not be less than the  quotient  obtained by dividing the
          value  of the  Contract  as of the  end of the  preceding  year by the
          distribution  period in the Uniform Lifetime Table in Q&A-2 of Section
          1.401(a)(9)-9 of the Income Tax Regulations,  using the Owner's age as
          of his or her  birthday  in the year.  However,  if the  Owner's  sole
          designated  beneficiary  is his or her spouse and such  spouse is more
          than 10 years younger than the Owner, then the distribution  period is
          determined under the Joint and Last Survivor Table in Q&A-3 of Section
          1.401(a)(9)-9 of the Income Tax Regulations,  using the ages as of the
          Owner's and spouse's birthdays in the year.

     (e)  The required minimum distribution for the first distribution  calendar
          year can be made as late as the Owner's  required  beginning date. The
          required  minimum  distribution for any other year must be made by the
          end of such year.

GA-RA-1039                             2
<PAGE>

8.   (a)  Death On or After Required Distributions Commence. If the Owner dies
          on or after the required  beginning date, the remaining portion of his
          or her interest will be distributed at least as rapidly as follows:

          (i)  If the  designated  beneficiary is someone other than the Owner's
               surviving spouse, the remaining interest will be distributed over
               the remaining life expectancy of the designated beneficiary, with
               such life expectancy  determined using the age of the beneficiary
               as of his or her birthday in the year  following  the year of the
               Owner's  death,  or  over  the  period   described  in  Paragraph
               8(a)(iii) if longer.

          (ii) If  the  Owner's  sole  designated  beneficiary  is  the  Owner's
               surviving spouse, the remaining interest will be distributed over
               such  spouse's  life or over the period  described  in  Paragraph
               8(a)(iii) if longer.  Any interest  remaining after such spouse's
               death  will be  distributed  over such  spouse's  remaining  life
               expectancy  determined  using the  spouse's  age as of his or her
               birthday  in  the  year  of  the  spouse's  death,   or,  if  the
               distributions  are  being  made  over  the  period  described  in
               Paragraph 8(a)(iii), over such period.

          (iii)If  there  is no  designated  beneficiary,  or if  applicable  by
               operation  of  Paragraph  8(a)(i)  or  8(a)(ii),   the  remaining
               interest  will be  distributed  over the Owner's  remaining  life
               expectancy determined in the year of the Owner's death.

          (iv) The amount to be distributed  each year under Paragraph  8(a)(i),
               8(a)(ii) or 8(a)(iii), beginning with the calendar year following
               the calendar year of the Owner's death, is the quotient  obtained
               by  dividing  the  value  of the  Contract  as of the  end of the
               preceding year by the remaining life expectancy specified in such
               paragraph.  Life  expectancy is determined  using the Single Life
               Table  in  Q&A-1  of  Section  1.401(a)(9)-9  of the  Income  Tax
               Regulations.  If  distributions  are  being  made to a  surviving
               spouse  as  the  sole  designated   beneficiary,   such  spouse's
               remaining life  expectancy for a year is the number in the Single
               Life Table corresponding to such spouse's age in the year. In all
               other cases,  remaining life  expectancy for a year is the number
               in the Single Life Table  corresponding  to the  beneficiary's or
               Owner's  age,  as the  case  may be,  in the  year  specified  in
               Paragraph  8(a)(i),  8(a)(ii) or  8(a)(iii)  and reduced by 1 for
               each subsequent year.

     (b)  Death Before  Required  Beginning  Date.  If the Owner dies before the
          required   beginning   date,  his  or  her  entire  interest  will  be
          distributed at least as rapidly as follows:

          (i)  If the  designated  beneficiary is someone other than the Owner's
               surviving  spouse,  the  entire  interest  will  be  distributed,
               starting by the end of the calendar  year  following the calendar
               year of the Owner's death,  over the remaining life expectancy of
               the designated beneficiary,  with such life expectancy determined
               using the age of the beneficiary as of his or her birthday in the
               year following the year of the Owner's death, or, if elected,  in
               accordance with Paragraph 8(b)(iii).

          (ii) If  the  Owner's  sole  designated  beneficiary  is  the  Owner's
               surviving  spouse,  the  entire  interest  will  be  distributed,
               starting by the end of the calendar  year  following the calendar
               year of the Owner's  death (or by the end of the calendar year in
               which the Owner would have  attained age 70 1/2, if later),  over
               such spouse's life, or, if elected,  in accordance with Paragraph
               8(b)(iii).  If the surviving spouse dies before distributions are
               required to begin,  the remaining  interest will be  distributed,
               starting by the end of the Calendar  year  following the calendar
               year  of  the  spouse's  death,  over  the  spouse's   designated
               beneficiary's  remaining life  expectancy  determined  using such
               beneficiary's age as of his or her birthday in the year following
               the death of the spouse,  or, if elected,  will be distributed in
               accordance with Paragraph 8(b)(iii). If the surviving spouse dies
               after the  distributions  are  required to begin,  any  remaining

GA-RA-1039                             3
<PAGE>

               interest  will  continue  to be  distributed  over  the  spouse's
               remaining life expectancy determined using the spouse's age as of
               his or her birthday in the year of the spouse's death.

          (iii)If  there  is no  designated  beneficiary,  or if  applicable  by
               operation of Paragraph  8(b)(i) or 8(b)(ii),  the entire interest
               will be  distributed  by the end of the calendar year  containing
               the fifth  anniversary  of the Owner's  death (or of the spouse's
               death  in  the  case  of  the  surviving  spouse's  death  before
               distributions are required to begin under Paragraph 8(b)(ii)).

          (iv) The amount to be distributed each year under Paragraph 8(b)(i) or
               8(b)(ii) is the  quotient  obtained by dividing  the value of the
               Contract  as of the end of the  preceding  year by the  remaining
               life expectancy  specified in such paragraph.  Life expectancy is
               determined  using  the  Single  Life  Table in  Q&A-1 of  Section
               1.401(a)(9)-9 of the Income Tax Regulations. If distributions are
               being  made  to  a  surviving   spouse  as  the  sole  designated
               beneficiary,  such spouse's  remaining life expectancy for a year
               is the number in the  Single  Life  Table  corresponding  to such
               spouse's  age in the year.  In all other  cases,  remaining  life
               expectancy  for a year is the  number in the  Single  Life  Table
               corresponding to the  beneficiary's  age in the year specified in
               Paragraph   8(b)(i)  or  8(b)(ii)  and  reduced  by  1  for  each
               subsequent year.

     (c)  The "value" of the  Contract  includes  the amount of any  outstanding
          rollover  and transfer  under Q&As-7 and -8 of Section  1.408-8 of the
          Income Tax Regulations.

9.   Notwithstanding  any  provision of this Contract to the contrary that would
     otherwise  limit an  Owner's  election  under this  Contract,  an Owner may
     elect, at any time and in the manner  prescribed by us, to have any portion
     of  an  Eligible  Rollover   Distribution  paid  directly  to  an  Eligible
     Retirement Plan specified by the Owner in a Direct Rollover.

          For the purpose of this paragraph, the following definitions apply:

          (a)     ELIGIBLE ROLLOVER DISTRIBUTION is any distribution of all or
                  any portion of the assets of the Contract, not including:

               (i)  any  distribution  that is one of a series of  substantially
                    equal periodic  payments (not less frequently than annually)
                    made for the life (or life  expectancy)  of the Owner or the
                    joint lives (or joint life expectances) of the Owner and the
                    Owner's designated beneficiary, or for a specified period of
                    ten years or more;
               (ii) any distribution to the extent such distribution is required
                    under IRC Sections 401(a)(9) or 403(b)(10); and
               (iii) any amount that is distributed on account of hardship.

               In  addition,  the  portion  of  any  distribution  that  is  not
               includible  in the gross  income  of the Owner may be  considered
               part of an Eligible  Rollover  Distribution;  provided,  however,
               such portion may be transferred only to an individual  retirement
               account or annuity  described in IRC Section 408(a) or (b), or to
               another  annuity  described  in  Section  403(b)  that  agrees to
               separately   account  for  amounts  so   transferred,   including
               separately  accounting for the portion of such distribution which
               is   includible   in  gross   income  and  the  portion  of  such
               distribution which is not so includible.

          (b) ELIGIBLE RETIREMENT PLAN IS:

               (i)  an annuity described in IRC Section 403(b);
               (ii) an individual  retirement  account  described in IRC Section
                    408(a);
               (iii)an individual  retirement  annuity  described in IRC Section
                    408(b);
               (iv) an  employee's  qualified  trust  described  in IRC  Section
                    401(a) which is exempt from tax under IRC Section 501(a);
               (v)  an annuity plan described in IRC Section 403(a); or
               (vi) an  eligible  deferred  compensation  plan under IRC Section
                    457(b) which is maintained by a state, political subdivision
                    of a state, or any agency or  instrumentality  of a state

GA-RA-1039                             4
<PAGE>

                    or  political  subdivision  of a state and  which  agrees to
                    separately  account for amounts  transferred  into such plan
                    from this Contract.

          (c)  DIRECT  ROLLOVER  is a payment by us to the  Eligible  Retirement
               Plan specified by the Owner.

          (d)  Owner,  for the purposes of this paragraph,  includes the Owner's
               surviving  spouse and the Owner's  spouse or former spouse who is
               an alternate payee under a qualified domestic relations order, as
               defined in IRC Section 414(p).

10.  This Contract shall be for the exclusive benefit of the Owner or his or her
     beneficiary.   The   Owner's   rights   under   this   Contract   will   be
     non-forfeitable.

11.  We  reserve  the right to amend or  administer  the  Contract  and Rider as
     necessary  to  comply  with the  provisions  of the IRC,  Internal  Revenue
     Service  Regulations or published Internal Revenue Service Rulings. We will
     send a copy of such  amendment to the Owner.  It will be mailed to the last
     post office  address known to us. Any such changes will apply  uniformly to
     all Policies  that are affected and the Owner will have the right to accept
     or reject such changes.

12.  Except in the case of a Contract purchased by a church, no premium payments
     applicable  to  this  Contract  can be made  unless  all  employees  of the
     employer may elect to have the  employer  make  contributions  of more than
     $200 under a salary reduction agreement. For purposes of this paragraph any
     Employee who is a participant in (a), (b) or (c) below may be excluded.

         (a) an eligible deferred compensation plan under IRC Section 457(b);
         (b) a qualified cash or deferred arrangement; or
         (c)  another IRC Section 403(b) annuity.

In addition,  any  non-resident  aliens and students who normally work less than
twenty (20) hours per week may be excluded.

SIGNED FOR GOLDEN AMERICAN LIFE INSURANCE COMPANY:

      President    /s/Keith Gubbay

GA-RA-1039                             5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}]]