Document:

FORM OF PARTICIPATION AGREEMENT

                                      AMONG

                              [INSURANCE COMPANY,]

                            [CONTRACTS DISTRIBUTOR,]

                        ALLIANCE CAPITAL MANAGEMENT L.P.

                                       AND

                        ALLIANCE FUND DISTRIBUTORS, INC.

                                   DATED AS OF

                                       [ ]

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                             PARTICIPATION AGREEMENT

         THIS AGREEMENT, made and entered into as of the ___ day of ___________,
199__ ("Agreement"), by and among [Insurance Company], a ____________ life
insurance company ("Insurer") (on behalf of itself and its "Separate Account,"
defined below); [Contracts Distributor], a ____________ corporation ("Contracts
Distributor"), the principal underwriter with respect to the Contracts referred
to below; Alliance Capital Management L.P., a Delaware limited partnership
("Adviser"), the investment adviser of the Fund referred to below; and Alliance
Fund Distributors, Inc., a Delaware corporation ("Distributor"), the Fund's
principal underwriter (collectively, the "Parties"),

                                WITNESSETH THAT:

         WHEREAS Insurer, the Distributor, and Alliance Variable Products Series
Fund, Inc. (the "Fund") desire that Class B shares of the Fund's [Name
Portfolios] (the "Portfolios"; reference herein to the "Fund" includes reference
to each Portfolio to the extent the context requires) be made available by
Distributor to serve as underlying investment media for [those combination fixed
and variable annuity contracts of Insurer that are the subject of Insurer's Form
N-4 registration statement filed with the Securities and Exchange Commission
(the "SEC"), File No. ____________ (the "Contracts"),] to be offered through
Contracts Distributor and other registered broker-dealer firms as agreed to by
Insurer and Contracts Distributor; and

         WHEREAS the Contracts provide for the allocation of net amounts
received by Insurer to separate series (the "Divisions"; reference herein to the
"Separate Account" includes reference to each Division to the extent the context
requires) of the Separate Account for investment in Class B

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shares of corresponding Portfolios of the Fund that are made available
through the Separate Account to act as underlying investment media,

         NOW, THEREFORE, in consideration of the mutual benefits and promises
contained herein, the Fund and Distributor will make Class B shares of the
Portfolios available to Insurer for this purpose at net asset value and with no
sales charges, all subject to the following provisions:

                        SECTION 1. ADDITIONAL PORTFOLIOS

         The Fund has and may, from time to time, add additional Portfolios,
which will become subject to this Agreement, if, upon the written consent of
each of the Parties hereto, they are made available as investment media for the
Contracts.

                       SECTION 2. PROCESSING TRANSACTIONS

         2.1      TIMELY PRICING AND ORDERS.
                  -------------------------
         The Adviser or its designated agent will provide closing net asset
value, dividend and capital gain information for each Portfolio to Insurer at
the close of trading on each day (a "Business Day") on which (a) the New York
Stock Exchange is open for regular trading, (b) the Fund calculates the
Portfolio's net asset value and (c) Insurer is open for business. The Fund or
its designated agent will use its best efforts to provide this information by
6:00 p.m., Eastern time. Insurer will use these data to calculate unit values,
which in turn will be used to process transactions that receive that same
Business Day's Separate Account Division's unit values. Such Separate Account
processing will be done the same evening, and corresponding orders with

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respect to Fund shares will be placed the morning of the following Business
Day. Insurer will use its best efforts to place such orders with the Fund by
10:00 a.m., Eastern time.

         2.2      TIMELY PAYMENTS.
                  ---------------
         Insurer will transmit orders for purchases and redemptions of Fund
shares to Distributor, and will wire payment for net purchases to a custodial
account designated by the Fund on the day the order for Fund shares is placed,
to the extent practicable. Payment for net redemptions will be wired by the Fund
to an account designated by Insurer on the same day as the order is placed, to
the extent practicable, and in any event be made within six calendar days after
the date the order is placed in order to enable Insurer to pay redemption
proceeds within the time specified in Section 22(e) of the Investment Company
Act of 1940, as amended (the "1940 Act").

         2.3      REDEMPTION IN KIND.
                  ------------------
         The Fund reserves the right to pay any portion of a redemption in kind
of portfolio securities, if the Fund's board of directors (the "Board of
Directors") determines that it would be detrimental to the best interests of
shareholders to make a redemption wholly in cash.

         2.4      APPLICABLE PRICE.
                  ----------------
         The Parties agree that Portfolio share purchase and redemption orders
resulting from Contract owner purchase payments, surrenders, partial
withdrawals, routine withdrawals of charges, or other transactions under
Contracts will be executed at the net asset values as determined as of the close
of regular trading on the New York Stock Exchange on the Business Day that
Insurer receives such orders and processes such transactions, which, Insurer
agrees shall occur not earlier than the Business Day prior to Distributor's
receipt of the corresponding orders for purchases and

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redemptions of Portfolio shares. For the purposes of this section, Insurer
shall be deemed to be the agent of the Fund for receipt of such orders from
holders or applicants of contracts, and receipt by Insurer shall constitute
receipt by the Fund. All other purchases and redemptions of Portfolio shares
by Insurer, will be effected at the net asset values next computed after
receipt by Distributor of the order therefor, and such orders will be
irrevocable. Insurer hereby elects to reinvest all dividends and capital
gains distributions in additional shares of the corresponding Portfolio at
the record-date net asset values until Insurer otherwise notifies the Fund in
writing, it being agreed by the Parties that the record date and the payment
date with respect to any dividend or distribution will be the same Business
Day.

                          SECTION 3. COSTS AND EXPENSES

         3.1      GENERAL.
                  -------
         Except as otherwise specifically provided herein, each Party will bear
all expenses incident to its performance under this Agreement.

         3.2      REGISTRATION.
                  ------------
         The Fund will bear the cost of its registering as a management
investment company under the 1940 Act and registering its shares under the
Securities Act of 1933, as amended (the "1933 Act"), and keeping such
registrations current and effective; including, without limitation, the
preparation of and filing with the SEC of Forms N-SAR and Rule 24f-2 Notices
respecting the Fund and its shares and payment of all applicable registration or
filing fees with respect to any of the foregoing. Insurer will bear the cost of
registering the Separate Account as a unit investment trust under the 1940 Act
and registering units of interest under the Contracts under the 1933 Act and
keeping such registrations

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current and effective; including, without limitation, the preparation and
filing with the SEC of Forms N-SAR and Rule 24f-2 Notices respecting the
Separate Account and its units of interest and payment of all applicable
registration or filing fees with respect to any of the foregoing.

         3.3      OTHER (NON-SALES-RELATED) EXPENSES.
                  ----------------------------------
         The Fund will bear the costs of preparing, filing with the SEC and
setting for printing the Fund's prospectus, statement of additional information
and any amendments or supplements thereto (collectively, the "Fund Prospectus"),
periodic reports to shareholders, Fund proxy material and other shareholder
communications and any related requests for voting instructions from
Participants (as defined below). Insurer will bear the costs of preparing,
filing with the SEC and setting for printing, the Separate Account's prospectus,
statement of additional information and any amendments or supplements thereto
(collectively, the "Separate Account Prospectus"), any periodic reports to
owners, annuitants or participants under the Contracts (collectively,
"Participants"), and other Participant communications. The Fund and Insurer each
will bear the costs of printing in quantity and delivering to existing
Participants the documents as to which it bears the cost of preparation as set
forth above in this Section 3.3, it being understood that reasonable cost
allocations will be made in cases where any such Fund and Insurer documents are
printed or mailed on a combined or coordinated basis. If REQUESTED by Insurer,
the Fund will provide annual Prospectus text to Insurer on diskette for printing
and binding with the Separate Account Prospectus.

         3.4      OTHER SALES-RELATED EXPENSES.
                  ----------------------------
         Expenses of distributing the Portfolio's shares and the Contracts will
be paid by Contracts Distributor and other parties, as they shall determine by
separate agreement.

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         3.5      PARTIES TO COOPERATE.
                  --------------------
         The Adviser, Insurer, Contracts Distributor, and Distributor each
agrees to cooperate with the others, as applicable, in arranging to print, mail
and/or deliver combined or coordinated prospectuses or other materials of the
Fund and Separate Account.

                           SECTION 4. LEGAL COMPLIANCE

         4.1      TAX LAWS.
                  --------
         (a) The Adviser will use its best efforts to qualify and to maintain
qualification of each Portfolio as a regulated investment company ("RIC") under
Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), and
the Adviser or Distributor will notify Insurer immediately upon having a
reasonable basis for believing that a Portfolio has ceased to so qualify or that
it might not so qualify in the future.

         (b) Insurer represents that it believes, in good faith, that the
Contracts will be treated as [annuity] contracts under applicable provisions of
the Code and that it will make every effort to maintain such treatment. Insurer
will notify the Fund and Distributor immediately upon having a reasonable basis
for believing that any of the Contracts have ceased to be so treated or that
they might not be so treated in the future.

         (c) The Fund will use its best efforts to comply and to maintain each
Portfolio's compliance with the diversification requirements set forth in
Section 817(h) of the Code and Section 1.817-5(b) of the regulations under the
Code, and the Fund, Adviser or Distributor will notify Insurer

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immediately upon having a reasonable basis for believing that a Portfolio has
ceased to so comply or that a Portfolio might not so comply in the future.

         (d) Insurer represents that it believes, in good faith, that the
Separate Account is a "segregated asset account" and that interests in the
Separate Account are offered exclusively through the purchase of or transfer
into a "variable contract," within the meaning of such terms under Section
817(h) of the Code and the regulations thereunder. Insurer will make every
effort to continue to meet such definitional requirements, and it will notify
the Fund and Distributor immediately upon having a reasonable basis for
believing that such requirements have ceased to be met or that they might not be
met in the future.

         (e) The Adviser will manage the Fund as a RIC in compliance with
Subchapter M of the Code and will use its best efforts to manage to be in
compliance with Section 817(h) of the Code and regulations thereunder. The Fund
has adopted and will maintain procedures for ensuring that the Fund is managed
in compliance with Subchapter M and Section 817(h) and regulations thereunder.

         (f) Should the Distributor or Adviser become aware of a failure of
Fund, or any of its Portfolios, to be in compliance with Subchapter M of the
Code or Section 817(h) of the Code and regulations thereunder, they represent
and agree that they will immediately notify Insurer of such in writing.

         4.2      INSURANCE AND CERTAIN OTHER LAWS.
                  --------------------------------
         (a) The Adviser will use its best efforts to cause the Fund to comply
with any applicable state insurance laws or regulations, to the extent
specifically requested in writing by Insurer. If it cannot comply, it will so
notify Insurer in writing.

                                      7

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         (b) Insurer represents and warrants that (i) it is an insurance company
duly organized, validly existing and in good standing under the laws of the
State of [____________] and has full corporate power, authority and legal right
to execute, deliver and perform its duties and comply with its obligations under
this Agreement, (ii) it has legally and validly established and maintains the
Separate Account as a segregated asset account under [State Law], and (iii) the
Contracts comply in all material respects with all other applicable federal and
state laws and regulations.

         (c) Insurer and Contracts Distributor represent and warrant that
Contracts Distributor is a business corporation duly organized, validly
existing, and in good standing under the laws of the State of [____________] and
has full corporate power, authority and legal right to execute, deliver, and
perform its duties and comply with its obligations under this Agreement.

         (d) Distributor represents and warrants that it is a business
corporation duly organized, validly existing, and in good standing under the
laws of the State of Delaware and has full corporate power, authority and legal
right to execute, deliver, and perform its duties and comply with its
obligations under this Agreement.

         (e) Distributor represents and warrants that the Fund is a corporation
duly organized, validly existing, and in good standing under the laws of the
State of Maryland and has full power, authority, and legal right to execute,
deliver, and perform its duties and comply with its obligations under this
Agreement.

         (f) Adviser represents and warrants that it is a limited partnership,
duly organized, validly existing and in good standing under the laws of the
State of Delaware and has full power, authority,

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and legal right to execute, deliver, and perform its duties and comply with
its obligations under this Agreement.

         4.3      SECURITIES LAWS.
                  ---------------
         (a) Insurer represents and warrants that (i) interests in the Separate
Account pursuant to the Contracts will be registered under the 1933 Act to the
extent required by the 1933 Act and the Contracts will be duly authorized for
issuance and sold in compliance with [State] law, (ii) the Separate Account is
and will remain registered under the 1940 Act to the extent required by the 1940
Act, (iii) the Separate Account does and will comply in all material respects
with the requirements of the 1940 Act and the rules thereunder, (iv) the
Separate Account's 1933 Act registration statement relating to the Contracts,
together with any amendments thereto, will, at all times comply in all material
respects with the requirements of the 1933 Act and the rules thereunder, and (v)
the Separate Account Prospectus will at all times comply in all material
respects with the requirements of the 1933 Act and the rules thereunder.

         (b) The Adviser and Distributor represent and warrant that (i) Fund
shares sold pursuant to this Agreement will be registered under the 1933 Act to
the extent required by the 1933 Act and duly authorized for issuance and sold in
compliance with Maryland law, (ii) the Fund is and will remain registered under
the 1940 Act to the extent required by the 1940 Act, (iii) the Fund will amend
the registration statement for its shares under the 1933 Act and itself under
the 1940 Act from time to time as required in order to effect the continuous
offering of its shares, (iv) the Fund does and will comply in all material
respects with the requirements of the 1940 Act and the rules thereunder, (v) the
Fund's 1933 Act registration statement, together with any amendments thereto,
will at all times comply in all material respects with the requirements of the
1933 Act and rules thereunder, and (vi)

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the Fund Prospectus will at all times comply in all material respects with
the requirements of the 1933 Act and the rules thereunder.

         (c) The Fund will register and qualify its shares for sale in
accordance with the laws of any state or other jurisdiction only if and to the
extent reasonably deemed advisable by the Fund, Insurer or any other life
insurance company utilizing the Fund.

         (d) Distributor and Contracts Distributor each represents and warrants
that it is registered as a broker-dealer with the SEC under the Securities
Exchange Act of 1934, as amended, and is a member in good standing of the
National Association of Securities Dealers Inc. (the "NASD").

         4.4      NOTICE OF CERTAIN PROCEEDINGS AND OTHER CIRCUMSTANCES.
                  -----------------------------------------------------
         (a) Distributor or the Fund shall immediately notify Insurer of (i) the
issuance by any court or regulatory body of any stop order, cease and desist
order, or other similar order with respect to the Fund's registration statement
under the 1933 Act or the Fund Prospectus, (ii) any request by the SEC for any
amendment to such registration statement or Fund Prospectus, (iii) the
initiation of any proceedings for that purpose or for any other purpose relating
to the registration or offering of the Fund's shares, or (iv) any other action
or circumstances that may prevent the lawful offer or sale of Fund shares in any
state or jurisdiction, including, without limitation, any circumstances in which
(x) the Fund's shares are not registered and, in all material respects, issued
and sold in accordance with applicable state and federal law or (y) such law
precludes the use of such shares as an underlying investment medium of the
Contracts issued or to be issued by Insurer. Distributor and the Fund will make
every reasonable effort to prevent the issuance of any such stop order, cease
and desist order or similar order and, if any such order is issued, to obtain
the lifting thereof at the earliest possible time.

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         (b) Insurer and Contracts Distributor shall immediately notify the Fund
of (i) the issuance by any court or regulatory body of any stop order, cease and
desist order or similar order with respect to the Separate Account's
registration statement under the 1933 Act relating to the Contracts or the
Separate Account Prospectus, (ii) any request by the SEC for any amendment to
such registration statement or Separate Account Prospectus, (iii) the initiation
of any proceedings for that purpose or for any other purpose relating to the
registration or offering of the Separate Account interests pursuant to the
Contracts, or (iv) any other action or circumstances that may prevent the lawful
offer or sale of said interests in any state or jurisdiction, including, without
limitation, any circumstances in which said interests are not registered and, in
all material respects, issued and sold in accordance with applicable state and
federal law. Insurer and Contracts Distributor will make every reasonable effort
to prevent the issuance of any such stop order, cease and desist order or
similar order and, if any such order is issued, to obtain the lifting thereof at
the earliest possible time.

         4.5      INSURER TO PROVIDE DOCUMENTS.
                  ----------------------------
         Upon request, Insurer will provide the Fund and the Distributor one
complete copy of SEC registration statements, Separate Account Prospectuses,
reports, any preliminary and final voting instruction solicitation material,
applications for exemptions, requests for no-action letters, and amendments to
any of the above, that relate to the Separate Account or the Contracts,
contemporaneously with the filing of such document with the SEC or other
regulatory authorities.

         4.6      FUND TO PROVIDE DOCUMENTS.
                  -------------------------
         Upon request, the Fund will provide to Insurer one complete copy of SEC
registration statements, Fund Prospectuses, reports, any preliminary and final
proxy material, applications for exemptions, requests for no-action letters, and
all amendments to any of the above, that relate to the

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Fund or its shares, contemporaneously with the filing of such document with
the SEC or other regulatory authorities.

                       SECTION 5. MIXED AND SHARED FUNDING

         5.1      GENERAL.
                  --------
         The Fund has obtained an order exempting it from certain provisions of
the 1940 Act and rules thereunder so that the Fund is available for investment
by certain other entities, including, without limitation, separate accounts
funding variable life insurance policies and separate accounts of insurance
companies unaffiliated with Insurer ("Mixed and Shared Funding Order"). The
Parties recognize that the SEC has imposed terms and conditions for such orders
that are substantially identical to many of the provisions of this Section 5.

         5.2      DISINTERESTED DIRECTORS.
                  -----------------------
         The Fund agrees that its Board of Directors shall at all times consist
of directors a majority of whom (the "Disinterested Directors") are not
interested persons of Adviser or Distributor within the meaning of Section
2(a)(19) of the 1940 Act.

         5.3      MONITORING FOR MATERIAL IRRECONCILABLE CONFLICTS.
                  ------------------------------------------------
         The Fund agrees that its Board of Directors will monitor for the
existence of any material irreconcilable conflict between the interests of the
participants in all separate accounts of life insurance companies utilizing the
Fund, including the Separate Account. Insurer agrees to inform the Board of
Directors of the Fund of the existence of or any potential for any such material
irreconcilable conflict of which it is aware. The concept of a "material
irreconcilable conflict" is not

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defined by the 1940 Act or the rules thereunder, but the Parties recognize
that such a conflict may arise for a variety of reasons, including, without
limitation:

         (a) an action by any state insurance or other regulatory authority;

         (b) a change in applicable federal or state insurance, tax or
securities laws or regulations, or a public ruling, private letter ruling,
no-action or interpretative letter, or any similar action by insurance, tax or
securities regulatory authorities;

         (c) an administrative or judicial decision in any relevant
proceeding;

         (d) the manner in which the investments of any Portfolio are
being managed;

         (e) a difference in voting instructions given by variable annuity
contract and variable life insurance contract participants or by participants of
different life insurance companies utilizing the Fund; or

         (f)      a decision by a life insurance company utilizing the Fund
to disregard the voting instructions of participants.

         Insurer will assist the Board of Directors in carrying out its
responsibilities by providing the Board of Directors with all information
reasonably necessary for the Board of Directors to consider any issue raised,
including information as to a decision by Insurer to disregard voting
instructions of Participants.

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         5.4      CONFLICT REMEDIES.
                  -----------------
         (a) It is agreed that if it is determined by a majority of the members
of the Board of Directors or a majority of the Disinterested Directors that a
material irreconcilable conflict exists, Insurer and the other life insurance
companies utilizing the Fund will, at their own expense and to the extent
reasonably practicable (as determined by a majority of the Disinterested
Directors), take whatever steps are necessary to remedy or eliminate the
material irreconcilable conflict, which steps may include, but are not limited
to:

         (i)      withdrawing the assets allocable to some or all of the
                  separate accounts from the Fund or any Portfolio and
                  reinvesting such assets in a different investment medium,
                  including another Portfolio of the Fund, or submitting the
                  question whether such segregation should be implemented to a
                  vote of all affected participants and, as appropriate,
                  segregating the assets of any particular group (e.g., annuity
                  contract owners or participants, life insurance contract
                  owners or all contract owners and participants of one or more
                  life insurance companies utilizing the Fund) that votes in
                  favor of such segregation, or offering to the affected
                  contract owners or participants the option of making such a
                  change; and

         (ii)     establishing a new registered investment company of the type
                  defined as a "Management Company" in Section 4(3) of the 1940
                  Act or a new separate account that is operated as a Management
                  Company.

         (b) If the material irreconcilable conflict arises because of Insurer's
decision to disregard Participant voting instructions and that decision
represents a minority position or would preclude a

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majority vote, Insurer may be required, at the Fund's election, to withdraw
the Separate Account's investment in the Fund. No charge or penalty will be
imposed as a result of such withdrawal. Any such withdrawal must take place
within six months after the Fund gives notice to Insurer that this provision
is being implemented, and until such withdrawal Distributor and the Fund
shall continue to accept and implement orders by Insurer for the purchase and
redemption of shares of the Fund.

         (c) If a material irreconcilable conflict arises because a particular
state insurance regulator's decision applicable to Insurer conflicts with the
majority of other state regulators, then Insurer will withdraw the Separate
Account's investment in the Fund within six months after the Fund's Board of
Directors informs Insurer that it has determined that such decision has created
a material irreconcilable conflict, and until such withdrawal Distributor and
Fund shall continue to accept and implement orders by Insurer for the purchase
and redemption of shares of the Fund.

         (d) Insurer agrees that any remedial action taken by it in resolving
any material irreconcilable conflict will be carried out at its expense and with
a view only to the interests of Participants.

         (e) For purposes hereof, a majority of the Disinterested Directors will
determine whether or not any proposed action adequately remedies any material
irreconcilable conflict. In no event, however, will the Fund or Distributor be
required to establish a new funding medium for any Contracts. Insurer will not
be required by the terms hereof to establish a new funding medium for any
Contracts if an offer to do so has been declined by vote of a majority of
Participants materially adversely affected by the material irreconcilable
conflict.

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         5.5      NOTICE TO INSURER.
                  -----------------
         The Fund will promptly make known in writing to Insurer the Board of
Directors' determination of the existence of a material irreconcilable conflict,
a description of the facts that give rise to such conflict and the implications
of such conflict.

         5.6      INFORMATION REQUESTED BY BOARD OF DIRECTORS.
                  -------------------------------------------
         Insurer and the Fund will at least annually submit to the Board of
Directors of the Fund such reports, materials or data as the Board of Directors
may reasonably request so that the Board of Directors may fully carry out the
obligations imposed upon it by the provisions hereof, and said reports,
materials and data will be submitted at any reasonable time deemed appropriate
by the Board of Directors. All reports received by the Board of Directors of
potential or existing conflicts, and all Board of Directors actions with regard
to determining the existence of a conflict, notifying life insurance companies
utilizing the Fund of a conflict, and determining whether any proposed action
adequately remedies a conflict, will be properly recorded in the minutes of the
Board of Directors or other appropriate records, and such minutes or other
records will be made available to the SEC upon request.

         5.7      COMPLIANCE WITH SEC RULES.
                  -------------------------
         If, at any time during which the Fund is serving as an investment
medium for variable life insurance policies, 1940 Act Rules 6e-3(T) or, if
applicable, 6e-2 are amended or Rule 6e-3 is adopted to provide exemptive relief
with respect to mixed and shared funding, the Parties agree that they will
comply with the terms and conditions thereof and that the terms of this Section
5 shall be deemed modified if and only to the extent required in order also to
comply with the terms and conditions of such exemptive relief that is afforded
by any of said rules that are applicable.

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                             SECTION 6. TERMINATION

         6.1      EVENTS OF TERMINATION.
                  ---------------------
         Subject to Section 6.4 below, this Agreement will terminate as to a
Portfolio:

         (a)      at the option of Insurer or Distributor upon at least six
months advance  written notice to the other Parties, or

         (b) at the option of the Fund upon (i) at least sixty days advance
written notice to the other parties, and (ii) approval by (x) a majority of the
disinterested Directors upon a finding that a continuation of this Contract is
contrary to the best interests of the Fund, or (y) a majority vote of the shares
of the affected Portfolio in the corresponding Division of the Separate Account
(pursuant to the procedures set forth in Section 11 of this Agreement for voting
Trust shares in accordance with Participant instructions).

         (c) at the option of the Fund upon institution of formal proceedings
against Insurer or Contracts Distributor by the NASD, the SEC, any state
insurance regulator or any other regulatory body regarding Insurer's obligations
under this Agreement or related to the sale of the Contracts, the operation of
the Separate Account, or the purchase of the Fund shares, if, in each case, the
Fund reasonably determines that such proceedings, or the facts on which such
proceedings would be based, have a material likelihood of imposing material
adverse consequences on the Portfolio to be terminated; or

         (d) at the option of Insurer upon institution of formal proceedings
against the Fund, Adviser, or Distributor by the NASD, the SEC, or any state
insurance regulator or any other

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regulatory body regarding the Fund's, Adviser's or Distributor's obligations
under this Agreement or related to the operation or management of the Fund or
the purchase of Fund shares, if, in each case, Insurer reasonably determines
that such proceedings, or the facts on which such proceedings would be based,
have a material likelihood of imposing material adverse consequences on
Insurer, Contracts Distributor or the Division corresponding to the Portfolio
to be terminated; or

         (e) at the option of any Party in the event that (i) the Portfolio's
shares are not registered and, in all material respects, issued and sold in
accordance with any applicable state and federal law or (ii) such law precludes
the use of such shares as an underlying investment medium of the Contracts
issued or to be issued by Insurer; or

         (f)      upon termination of the corresponding Division's investment
in the Portfolio pursuant to Section 5 hereof; or

         (g)      at the option of Insurer if the Portfolio ceases to qualify
as a RIC under Subchapter M of the Code or under successor or similar
provisions; or

         (h)      at the option of Insurer if the Portfolio fails to comply
with Section 817(h) of the Code or with successor or similar provisions; or

         (i) at the option of Insurer if Insurer reasonably believes that any
change in a Fund's investment adviser or investment practices will materially
increase the risks incurred by Insurer.

         6.2      FUNDS TO REMAIN AVAILABLE.
                  -------------------------
         Except (i) as necessary to implement Participant-initiated
transactions, (ii) as required by state insurance laws or regulations, (iii) as
required pursuant to Section 5 of this Agreement, or (iv) with

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respect to any Portfolio as to which this Agreement has terminated, Insurer
shall not (x) redeem Fund shares attributable to the Contracts, or (y)
prevent Participants from allocating payments to or transferring amounts from
a Portfolio that was otherwise available under the Contracts, until, in
either case, 90 calendar days after Insurer shall have notified the Fund or
Distributor of its intention to do so.

         6.3      SURVIVAL OF WARRANTIES AND INDEMNIFICATIONS.
                  -------------------------------------------
         All warranties and indemnifications will survive the termination of
this Agreement.

         6.4      CONTINUANCE OF AGREEMENT FOR CERTAIN PURPOSES.
                  ---------------------------------------------
         Notwithstanding any termination of this Agreement, the Distributor
shall continue to make available shares of the Portfolios pursuant to the terms
and conditions of this Agreement, for all Contracts in effect on the effective
date of termination of this Agreement (the "Existing Contracts"), except as
otherwise provided under Section 5 of this Agreement. Specifically, and without
limitation, the Distributor shall facilitate the sale and purchase of shares of
the Portfolios as necessary in order to process premium payments, surrenders and
other withdrawals, and transfers or reallocations of values under Existing
Contracts.

             SECTION 7. PARTIES TO COOPERATE RESPECTING TERMINATION

         The other Parties hereto agree to cooperate with and give reasonable
assistance to Insurer in taking all necessary and appropriate steps for the
purpose of ensuring that the Separate Account owns no shares of a Portfolio
after the Final Termination Date with respect thereto.

                                      19

<PAGE>

                              SECTION 8. ASSIGNMENT

         This Agreement may not be assigned by any Party, except with the
written consent of each other Party.

                    SECTION 9. CLASS B DISTRIBUTION PAYMENTS

         From time to time during the term of this Agreement the Distributor may
make payments to the Contracts Distributor pursuant to a distribution plan
adopted by the Fund with respect to the Class B shares of the Portfolios
pursuant to Rule 12b-1 under the 1940 Act (the "Rule 12b-1 Plan) in
consideration of the Contracts Distributor's furnishing distribution services
relating to the Class B shares of the Portfolios and providing administrative,
accounting and other services, including personal service and/or the maintenance
of Participant accounts, with respect to such shares. The Distributor has no
obligation to make any such payments, and the Contracts Distributor waives any
such payment, until the Distributor receives monies therefor from the Fund. Any
such payments made pursuant to this Section 9 shall be subject to the following
terms and conditions:

         (a) Any such payments shall be in such amounts as the Distributor may
from time to time advise the Contracts Distributor in writing but in any event
not in excess of the amounts permitted by the Rule 12b-1 Plan. Such payments may
include a service fee in the amount of .25 of 1% per annum of the average daily
net assets of the Fund attributable to the Class B shares of a Portfolio held by
clients of the Contracts Distributor. Any such service fee shall be paid solely
for personal service and/or the maintenance of Participant accounts.

         (b) The provisions of this Section 9 relate to a plan adopted by the
Fund pursuant to Rule 12b-1. In accordance with Rule 12b-1, any person
authorized to direct the disposition of

                                      20

<PAGE>

monies paid or payable by the Fund pursuant to this Section 9 shall provide
the Fund's Board of Directors, and the Directors shall review, at least
quarterly, a written report of the amounts so expended and the purposes for
which such expenditures were made.

          (c) The provisions of this Section 9 shall remain in effect for not
more than a year and thereafter for successive annual periods only so long as
such continuance is specifically approved at least annually in conformity
with Rule 12b-1 and the 1940 Act. The provisions of this Section 9 shall
automatically terminate in the event of the assignment (as defined by the
1940 Act) of this Agreement, in the event the Rule 12b-1 Plan terminates or
is not continued or in the event this Agreement terminates or ceases to
remain in effect. In addition, the provisions of this Section 9 may be
terminated at any time, without penalty, by either the Distributor or the
Contracts Distributor with respect to any Portfolio on not more than 60 days'
nor less than 30 days' written notice delivered or mailed by registered mail,
postage prepaid, to the other party.

                               SECTION 10. NOTICES

         Notices and communications required or permitted by Section 2 hereof
will be given by means mutually acceptable to the Parties concerned. Each other
notice or communication required or permitted by this Agreement will be given to
the following persons at the following addresses and facsimile numbers, or such
other persons, addresses or facsimile numbers as the Party receiving such
notices or communications may subsequently direct in writing:

                                     Insurer
                                    [address]

                                    [Contracts Distributor]
                                    [address]

                                      21

<PAGE>

                                    Alliance Fund Distributors, Inc.
                                    1345 Avenue of the Americas
                                    New York NY 10105
                                    Attn.: Edmund P. Bergan
                                    FAX: (212) 969-2290

                                    Alliance Capital Management L.P.
                                    1345 Avenue of the Americas
                                    New York NY 10105
                                    Attn: Edmund P. Bergan
                                    FAX: (212) 969-2290

                          SECTION 11. VOTING PROCEDURES

         Subject to the cost allocation procedures set forth in Section 3
hereof, Insurer will distribute all proxy material furnished by the Fund to
Participants and will vote Fund shares in accordance with instructions received
from Participants. Insurer will vote Fund shares that are (a) not attributable
to Participants or (b) attributable to Participants, but for which no
instructions have been received, in the same proportion as Fund shares for which
said instructions have been received from Participants. Insurer agrees that it
will disregard Participant voting instructions only to the extent it would be
permitted to do so pursuant to Rule 6e-3 (T)(b)(15)(iii) under the 1940 Act if
the Contracts were variable life insurance policies subject to that rule. Other
participating life insurance companies utilizing the Fund will be responsible
for calculating voting privileges in a manner consistent with that of Insurer,
as prescribed by this Section 11.

                                      22

<PAGE>

                         SECTION 12. FOREIGN TAX CREDITS

         The Adviser agrees to consult in advance with Insurer concerning any
decision to elect or not to elect pursuant to Section 853 of the Code to pass
through the benefit of any foreign tax credits to the Fund's shareholders.

                           SECTION 13. INDEMNIFICATION

         13.1     INDEMNIFICATION OF FUND, DISTRIBUTOR AND ADVISER BY INSURER.
                  -----------------------------------------------------------
         (a) Except to the extent provided in Sections 13.1(b) and 13.1(c),
below, Insurer agrees to indemnify and hold harmless the Fund, Distributor and
Adviser, each of their directors and officers, and each person, if any, who
controls the Fund, Distributor or Adviser within the meaning of Section 15 of
the 1933 Act (collectively, the "Indemnified Parties" for purposes of this
Section 13. 1) against any and all losses, claims, damages, liabilities
(including amounts paid in settlement with the written consent of Insurer) or
actions in respect thereof (including, to the extent reasonable, legal and other
expenses), to which the Indemnified Parties may become subject under any
statute, regulation, at common law or otherwise, insofar as such losses, claims,
damages, liabilities or actions are related to the sale, acquisition, or holding
of the Fund's shares and:

         (i)      arise out of or are based upon any untrue statement or alleged
                  untrue statement of any material fact contained in the
                  Separate Account's 1933 Act registration statement, the
                  Separate Account Prospectus, the Contracts or, to the extent
                  prepared by Insurer or Contracts Distributor, sales literature
                  or advertising for the Contracts (or any amendment or
                  supplement to any of the foregoing), or arise out of or are
                  based upon the omission or the alleged omission to state
                  therein a material fact

                                      23

<PAGE>

                  required to be stated therein or necessary to make the
                  statements therein not misleading; provided that this
                  agreement to indemnify shall not apply as to any
                  Indemnified Party if such statement or omission or such
                  alleged statement or omission was made in reliance upon and in
                  conformity with information furnished to Insurer or Contracts
                  Distributor by or on behalf of the Fund, Distributor or
                  Adviser for use in the Separate Account's 1933 Act
                  registration statement, the Separate Account Prospectus, the
                  Contracts, or sales literature or advertising (or any
                  amendment or supplement to any of the foregoing); or

         (ii)     arise out of or as a result of any other statements or
                  representations (other than statements or representations
                  contained in the Fund's 1933 Act registration statement, Fund
                  Prospectus, sales literature or advertising of the Fund, or
                  any amendment or supplement to any of the foregoing, not
                  supplied for use therein by or on behalf of Insurer or
                  Contracts Distributor) or the negligent, illegal or fraudulent
                  conduct of Insurer or Contracts Distributor or persons under
                  their control (including, without limitation, their employees
                  and "Associated Persons," as that term is defined in paragraph
                  (m) of Article I of the NASD's By-Laws), in connection with
                  the sale or distribution of the Contracts or Fund shares; or

         (iii)    arise out of or are based upon any untrue statement or alleged
                  untrue statement of any material fact contained in the Fund's
                  1933 Act registration statement, Fund Prospectus, sales
                  literature or advertising of the Fund, or any amendment or
                  supplement to any of the foregoing, or the omission or alleged
                  omission to state therein a material fact required to be
                  stated therein or necessary to make the

                                      24

<PAGE>

                  statements therein not misleading if such a statement or
                  omission was made in reliance upon and in conformity with
                  information furnished to the Fund, Adviser or Distributor
                  by or on behalf of Insurer or Contracts Distributor for use
                  in the Fund's 1933 Act registration statement, Fund
                  Prospectus, sales literature or advertising of the Fund, or
                  any amendment or supplement to any of the foregoing; or

         (iv)     arise as a result of any failure by Insurer or Contracts
                  Distributor to perform the obligations, provide the services
                  and furnish the materials required of them under the terms of
                  this Agreement.

         (b) Insurer shall not be liable under this Section 13.1 with respect to
any losses, claims, damages, liabilities or actions to which an Indemnified
Party would otherwise be subject by reason of willful misfeasance, bad faith, or
gross negligence in the performance by that Indemnified Party of its duties or
by reason of that Indemnified Party's reckless disregard of obligations or
duties under this Agreement or to Distributor or to the Fund.

         (c) Insurer shall not be liable under this Section 13.1 with respect to
any action against an Indemnified Party unless the Fund, Distributor or Adviser
shall have notified Insurer in writing within a reasonable time after the
summons or other first legal process giving information of the nature of the
action shall have been served upon such Indemnified Party (or after such
Indemnified Party shall have received notice of such service on any designated
agent), but failure to notify Insurer of any such action shall not relieve
Insurer from any liability which it may have to the Indemnified Party against
whom such action is brought otherwise than on account of this Section 13. 1. In
case any such action is brought against an Indemnified Party, Insurer shall be
entitled to participate, at its own

                                      25

<PAGE>

expense, in the defense of such action. Insurer also shall be entitled to
assume the defense thereof, with counsel approved by the Indemnified Party
named in the action, which approval shall not be unreasonably withheld. After
notice from Insurer to such Indemnified Party of Insurer's election to assume
the defense thereof, the Indemnified Party will cooperate fully with Insurer
and shall bear the fees and expenses of any additional counsel retained by
it, and Insurer will not be liable to such Indemnified Party under this
Agreement for any legal or other expenses subsequently incurred by such
Indemnified Party independently in connection with the defense thereof, other
than reasonable costs of investigation.

         13.2   INDEMNIFICATION OF INSURER AND CONTRACTS DISTRIBUTOR BY ADVISER.
                ---------------------------------------------------------------
         (a) Except to the extent provided in Sections 13.2(d) and 13.2(e),
below, Adviser agrees to indemnify and hold harmless Insurer and Contracts
Distributor, each of their directors and officers, and each person, if any, who
controls Insurer or Contracts Distributor within the meaning of Section 15 of
the 1933 Act (collectively, the "Indemnified Parties" for purposes of this
Section 13.2) against any and all losses, claims, damages, liabilities
(including amounts paid in settlement with the written consent of Adviser) or
actions in respect thereof (including, to the extent reasonable, legal and other
expenses) to which the Indemnified Parties may become subject under any statute,
at common law or otherwise, insofar as such losses, claims, damages, liabilities
or actions are related to the sale, acquisition, or holding of the Fund's shares
and:

         (i)      arise out of or are based upon any untrue statement or alleged
                  untrue statement of any material fact contained in the Fund's
                  1933 Act registration statement, Fund Prospectus, sales
                  literature or advertising of the Fund or, to the extent not
                  prepared by Insurer or Contracts Distributor, sales literature
                  or advertising for the Contracts

                                      26

<PAGE>

                  (or any amendment or supplement to any of the foregoing), or
                  arise out of or are based upon the omission or the alleged
                  omission to state therein a material fact required to be
                  stated therein or necessary to make the statements therein
                  not misleading; provided that this agreement to indemnify
                  shall not apply as to any Indemnified Party if such statement
                  or omission or such alleged statement or omission was made in
                  reliance upon and in conformity with information furnished to
                  Distributor, Adviser or the Fund by or on behalf of Insurer
                  or Contracts Distributor for use in the Fund's 1933 Act
                  registration statement, Fund Prospectus, or in sales
                  literature or advertising (or any amendment or supplement to
                  any of the foregoing); or

         (ii)     arise out of or as a result of any other statements or
                  representations (other than statements or representations
                  contained in the Separate Account's 1933 Act registration
                  statement, Separate Account Prospectus, sales literature or
                  advertising for the Contracts, or any amendment or supplement
                  to any of the foregoing, not supplied for use therein by or on
                  behalf of Distributor, Adviser, or the Fund) or the negligent,
                  illegal or fraudulent conduct of the Fund, Distributor,
                  Adviser or persons under their control (including, without
                  limitation, their employees and Associated Persons), in
                  connection with the sale or distribution of the Contracts or
                  Fund shares; or

         (iii)    arise out of or are based upon any untrue statement or alleged
                  untrue statement of any material fact contained in the
                  Separate Account's 1933 Act registration statement, Separate
                  Account Prospectus, sales literature or advertising covering
                  the Contracts, or any amendment or supplement to any of the
                  foregoing, or the omission or alleged omission to state
                  therein a material fact required to be stated therein or
                  necessary to

                                      27

<PAGE>

                  make the statements therein not misleading, if such statement
                  or omission was made in reliance upon and in conformity with
                  information furnished to Insurer or Contracts Distributor by
                  or on behalf of the Fund, Distributor or Adviser for use in
                  the Separate Account's 1933 Act registration statement,
                  Separate Account Prospectus, sales literature or advertising
                  covering the Contracts, or any amendment or supplement to
                  any of the foregoing; or

         (iv)     arise as a result of any failure by the Fund, Adviser or
                  Distributor to perform the obligations, provide the services
                  and furnish the materials required of them under the terms of
                  this Agreement;

         (b) Except to the extent provided in Sections 13.2(d) and 13.2(e)
hereof, Adviser agrees to indemnify and hold harmless the Indemnified Parties
from and against any and all losses, claims, damages, liabilities (including
amounts paid in settlement thereof with, except as set forth in Section 13.2(c)
below, the written consent of Adviser) or actions in respect thereof (including,
to the extent reasonable, legal and other expenses) to which the Indemnified
Parties may become subject directly or indirectly under any statute, at common
law or otherwise, insofar as such losses, claims, damages, liabilities or
actions directly or indirectly result from or arise out of the failure of any
Portfolio to operate as a regulated investment company in compliance with (i)
Subchapter M of the Code and regulations thereunder and (ii) Section 817(h) of
the Code and regulations thereunder (except to the extent that such failure is
caused by Insurer), including, without limitation, any income taxes and related
penalties, rescission charges, liability under state law to Contract owners or
Participants asserting liability against Insurer or Contracts Distributor
pursuant to the Contracts, the costs of any ruling and closing agreement or
other settlement with the Internal Revenue Service, and the cost of

                                      28

<PAGE>

any substitution by Insurer of shares of another investment company or
portfolio for those of any adversely affected Portfolio as a funding medium
for the Separate Account that Insurer deems necessary or appropriate as a
result of the noncompliance.

         (c) The written consent of Adviser referred to in Section 13.2(b) above
shall not be required with respect to amounts paid in connection with any ruling
and closing agreement or other settlement with the Internal Revenue Service.

         (d) Adviser shall not be liable under this Section 13.2 with respect to
any losses, claims; damages, liabilities or actions to which an Indemnified
Party would otherwise be subject by reason of willful misfeasance, bad faith, or
gross negligence in the performance by that Indemnified Party of its duties or
by reason of such Indemnified Party's reckless disregard of its obligations and
duties under this Agreement or to Insurer, Contracts Distributor or the Separate
Account.

         (e) Adviser shall not be liable under this Section 13.2 with respect to
any action against an Indemnified Party unless Insurer or Contracts Distributor
shall have notified Adviser in writing within a reasonable time after the
summons or other first legal process giving information of the nature of the
action shall have been served upon such Indemnified Party (or after such
Indemnified Party shall have received notice of such service on any designated
agent), but failure to notify Adviser of any such action shall not relieve
Adviser from any liability which it may have to the Indemnified Party against
whom such action is brought otherwise than on account of this Section 13.2. In
case any such action is brought against an Indemnified Party, Adviser will be
entitled to participate, at its own expense, in the defense of such action.
Adviser also shall be entitled to assume the defense thereof (which shall
include, without limitation, the conduct of any ruling request and

                                      29

<PAGE>

closing agreement or other settlement proceeding with the Internal Revenue
Service), with counsel approved by the Indemnified Party named in the action,
which approval shall not be unreasonably withheld. After notice from Adviser
to such Indemnified Party of Adviser's election to assume the defense
thereof, the Indemnified Party will cooperate fully with Adviser and shall
bear the fees and expenses of any additional counsel retained by it, and
Adviser will not be liable to such Indemnified Party under this Agreement for
any legal or other expenses subsequently incurred by such Indemnified Party
independently in connection with the defense thereof, other than reasonable
costs of investigation.

         13.3     EFFECT OF NOTICE.
                  ----------------
         Any notice given by the indemnifying Party to an Indemnified Party
referred to in Section 13.1(c) or 13.2(e) above of participation in or control
of any action by the indemnifying Party will in no event be deemed to be an
admission by the indemnifying Party of liability, culpability or responsibility,
and the indemnifying Party will remain free to contest liability with respect to
the claim among the Parties or otherwise.

                           SECTION 14. APPLICABLE LAW

         This Agreement will be construed and the provisions hereof interpreted
under and in accordance with New York law, without regard for that state's
principles of conflict of laws.

                      SECTION 15. EXECUTION IN COUNTERPARTS

         This Agreement may be executed simultaneously in two or more
counterparts, each of which taken together will constitute one and the same
instrument.

                                      30

<PAGE>

                            SECTION 16. SEVERABILITY

         If any provision of this Agreement is held or made invalid by a court
decision, statute, rule or otherwise, the remainder of this Agreement will not
be affected thereby.

                          SECTION 17. RIGHTS CUMULATIVE

         The rights, remedies and obligations contained in this Agreement are
cumulative and are in addition to any and all rights, remedies and obligations,
at law or in equity, that the Parties are entitled to under federal and state
laws.

                SECTION 18. RESTRICTIONS ON SALES OF FUND SHARES

         Insurer agrees that the Fund will be permitted (subject to the other
terms of this

         Agreement) to make its shares available to separate accounts of other
life insurance companies.

                              SECTION 19. HEADINGS

         The Table of Contents and headings used in this Agreement are for
purposes of reference only and shall not limit or define the meaning of the
provisions of this Agreement.

                                      31

<PAGE>

         IN WITNESS WHEREOF, the Parties have caused this Agreement to be
executed in their names and on their behalf by and through their duly authorized
officers signing below.

                                 [INSURANCE COMPANY,]

                                 By:
                                     Name:
                                     Title:

                                 [CONTRACTS DISTRIBUTOR,]

                                 By:
                                     Name:
                                     Title:

                                 ALLIANCE CAPITAL MANAGEMENT LP
                                 By:  Alliance Capital Management Corporation,
                                      its General Partner

                                 By:
                                     Name:
                                     Title:

                                 ALLIANCE FUND DISTRIBUTORS, INC.

                                 By:
                                     Name:
                                     Title:

                                      32FUND PARTICIPATION AGREEMENT

         THIS AGREEMENT is made as of the 16th day of July 2001, among BRINSON
SERIES TRUST ("Fund"), an open-end management investment company organized as a
Massachusetts business trust, BRINSON ADVISORS, INC. ("Advisor"), the Fund's
investment advisor and administrator, and GOLDEN AMERICAN LIFE INSURANCE COMPANY
("Company"), a life insurance company organized under the laws of the state of
Delaware, on its own behalf and on behalf of each segregated asset account of
the Company set forth in Schedule A as attached hereto, as such Schedule A may
be amended from time to time ("Accounts").

         WHEREAS, the Fund is registered under the Investment Company Act of
1940, as amended ("1940 Act"), as an open-end management investment company; and

         WHEREAS, the Fund is organized as a series fund and has established a
number of distinct series of shares of beneficial interest ("Series"), which
correspond to distinct portfolios of investments; and

         WHEREAS, the Fund acts as an investment vehicle for separate accounts
established for variable life insurance policies and variable annuity contracts
("Contracts") to be offered by insurance companies that have entered into
participation agreements with the Fund ("Participating Insurance Companies");
and

         WHEREAS, the Advisor is registered as an investment advisor under the
Investment Advisers Act of 1940, as amended, a broker-dealer under the
Securities Exchange Act of 1934, as amended ("1934 Act"), and is a member in
good standing of the National Association of Securities Dealers, Inc. ("NASD");
and

         WHEREAS, the Series of the Fund offered by the Fund to the Company and
the Accounts are set forth on Schedule B attached hereto, as such Schedule B may
be amended from time to time; and

         WHEREAS, the Fund has obtained an order ("Exemptive Order") from the
Securities and Exchange Commission ("SEC") granting Participating Insurance
Companies and their separate accounts exemptions from the provisions of sections
9(a), 13(a), 15(a) and 15(b) of the 1940 Act and rules 6e-2(b)(15) and
6e-3(T)(b)(15) thereunder to the extent necessary to permit shares of the Fund
to be sold to and held by variable annuity and variable life insurance separate
accounts of both affiliated and unaffiliated life insurance companies and
certain qualified pension and retirement plans ("Qualified Plans"); and

         WHEREAS, to the extent permitted by applicable insurance laws and
regulations, the Company intends to purchase Class I shares ("Shares") of one or
more of the Series on behalf of the Accounts to fund the Contracts, and the Fund
intends to sell such Shares to the relevant Accounts at such Shares' net asset
value;

<PAGE>

         NOW THEREFORE, in consideration of the premises and the mutual
covenants contained herein, it is agreed between the parties as follows:

         1. Sale of Shares. The Fund agrees to make Shares available for
            ---------------
purchase by the Accounts or the Company or its affiliates on behalf of the
Accounts at the Shares' net asset value as computed in accordance with the
Fund's current prospectus and statement of additional information, as amended or
supplemented from time to time under the Securities Act of 1933, as amended
("1933 Act") and the 1940 Act ("Fund Registration Statement"). Purchases of
Shares will be made in accordance with the provisions of the Fund Registration
Statement and the operational procedures mutually agreed to in writing by the
Advisor or the Fund and the Company from time to time. The Fund may refuse to
sell Shares of any Series to any person or may suspend or terminate the offering
of Shares of any Series if such action is required by law or by regulatory
authorities having jurisdiction or is, in the sole discretion of the trustees of
the Fund, necessary in the best interests of the shareholders of any Series.

         2. Redemption of Shares. The Fund will redeem Shares when requested by
            ---------------------
an Account or the Company or its affiliates on behalf of the Account at the
Shares' net asset value (as computed in accordance with the Fund Registration
Statement) in accordance with the provisions of the Fund Registration Statement
and the operational procedures mutually agreed to by the Advisor or the Fund and
the Company from time to time.

         3. Acceptance of Orders. The Fund shall accept purchase and redemption
            ---------------------
orders resulting from investments in and payments under the Contracts on each
Business Day, provided that such orders are received by the Advisor or the Fund
prior to 9:00 a.m., Eastern time, on such Business Day and reflect instructions
received by the Company from Contract holders in good order prior to the time
the net asset value of the Series is calculated in accordance with the Fund
Registration Statement on the prior Business Day. Notwithstanding the foregoing,
the Company shall use its best efforts to provide the Advisor or the Fund with
such orders by 7:30 a.m. on the Business Day following the Business Day on which
instructions are so received by the Company. Orders reflecting instructions
received by the Company in good order after the time the net asset value of the
Series is calculated will not be deemed received until the next succeeding
Business Day. The Company acts as the agent of the Fund and the Advisor for the
limited purpose of accepting purchase and redemption instructions from Contract
holders. The Advisor and the Fund may reject purchase and redemption orders that
are not in proper form as mutually agreed to by the Advisor and the Company from
time to time.

         4. Payment for Purchases and Redemptions. Purchase orders shall be paid
             --------------------------------------

for in federal funds transmitted by wire no later than the Business Day that the
Fund receives notice of the order. The Fund shall use its best efforts to send
redemption proceeds in federal funds transmitted by wire no later than the next
Business Day after the Fund received notice of the order, unless doing so would
cause the Fund to dispose of portfolio securities or otherwise incur additional
costs. In any event, the Fund will wire proceeds of redemption orders to the
Company within the period required under the 1940 Act or the rules, orders or
regulations thereunder.

                                       2
<PAGE>

         5. Limitation on Sales of Shares. The Fund agrees that its Shares will
            ------------------------------
be sold only to Participating Insurance Companies and their separate accounts
and/or to Qualified Plans, all in accordance with Section 817(h) of the Internal
Revenue Code of 1986, as amended ("Code") and applicable Treasury Regulations.
No shares of any Series will be sold directly to the general public. The Company
agrees that Shares will be used only for the purposes of funding the Contracts
and Accounts listed in Schedule A, as amended from time to time.

         6. Book Entry. Issuance and transfer of Shares will be by book entry
            -----------
only. Share certificates will not be issued to the Company or any Account.
Shares ordered from the Fund will be recorded in the appropriate title for
each Account.

         7. Notice of Dividends and Distributions. The Fund will furnish prompt
            --------------------------------------
notice to the Company of any income, dividends or capital gain distribution
payable on Shares. The Company hereby elects to receive all such income
dividends and capital gain distributions payable on Shares in additional Shares
of the same Series. The Fund shall notify the Company of the number of Shares so
issued as payment of such dividends and distributions.

         8. Company Reports. The Company agrees to provide the Fund or its
            ----------------
designee on a daily basis with the amount of shares of each Series purchased and
sold by each owner of the Contracts (and information identifying each Contract
owner's investment executive) and such other information concerning transactions
in shares of the Fund by the Contract owners as the Fund shall reasonably
request.

         9. Advertising Materials; Filed Documents.
            ---------------------------------------

         a) Advertising and sales literature with respect to the Fund prepared
by the Company or its agents for use in marketing the Contracts will be
submitted to the Fund or its designee for review before such material is used
and submitted to any regulatory body for review. No such material shall be used
if the Fund or its designee reasonably object to such use in writing,
transmitted by facsimile or other similar means within five business days after
receipt of such material.

         b) The Fund shall provide the Company with a reasonable number of
copies of its registration statement, prospectuses, statements of additional
information, annual and semi-annual reports, proxy statements and all amendments
or supplements to any of the above promptly after the filing of such document
with the SEC or other regulatory body. At the request of the Advisor or the
Fund, the Company shall provide at least one copy of its registration statement,
prospectuses, statements of additional information, annual and semi-annual
reports, proxy statements and all amendments or supplements to any of the above
as it relates to the Contracts promptly after the filing of such document with
the SEC or other regulatory body.

         10. Uniform Application of Pass-Through Voting and Conflicts of
             -----------------------------------------------------------
Interest. The Fund agrees that all Participating Insurance Companies shall have
---------
the same obligations and responsibilities regarding pass-through voting and
conflicts of interest as the Company has under this Agreement.

                                       3
<PAGE>

         11. Pass-Through Voting. With respect to Contracts and Accounts that
             --------------------
are subject to the 1940 Act, so long as and to the extent that the SEC or SEC
staff interprets the 1940 Act to require pass-through voting privileges to
Contract owners (including, for purposes of this section, policy owners whose
cash values are invested in Shares through the Accounts), the Company will
provide pass-through voting privileges to Contract owners. The Fund shall
require all Participating Insurance Companies to calculate voting privileges in
the same manner and the Company will be responsible for assuring that the
Accounts calculate voting privileges in the manner established by the Fund. The
Company will distribute to Contract owners and participants, as appropriate, all
proxy material furnished by the Fund and, with respect to each Account, the
Company will vote Shares held by the Account and for which no timely voting
instructions are received from the Contract owners, as well as Shares held by
the Account that are owned by the Company for its general account, in the same
proportion as the Company votes Shares held by the Account for which timely
voting instructions are received from Contract owners. The Company and its
agents will in no way recommend or oppose or interfere with the solicitation of
proxies for Shares held by Contract owners without the prior written consent of
the Fund, which may be withheld in the Fund's sole discretion.

         12. Expenses. Except as otherwise provided in this Agreement or any
             ---------
Schedule hereto, all expenses incident to the performance by the Fund under this
Agreement shall be paid by the Fund, including the cost of registration of Fund
shares with the SEC and in states where required. The Fund and the Advisor shall
pay no fee or other compensation to the Company under this Agreement and the
Company shall pay no fee or other compensation to the Fund or Advisor, except as
provided herein and in Schedule C attached hereto and made a part of this
Agreement as may be amended from time to time with the mutual consent of the
parties hereto. All expenses incident to performance by each party of its
respective duties under this Agreement shall be paid by that party, unless
otherwise specified in this Agreement.

         13. Representations.
             ----------------

         (a) The Company represents and warrants that it is an insurance company
duly organized and in good standing under the laws of its state of incorporation
and that it has legally and validly established each Contract and Account.

         (b) The Company represents and warrants that it has registered or,
prior to any issuance or sale of the Contracts, will register each Account as a
unit investment trust ("UIT") in accordance with the provisions of the 1940 Act
and cause each Account to remain so registered to serve as a segregated asset
account for the Contracts unless an exemption from registration is available.

         (c) The Company represents and warrants that the Contracts will be
registered under the 1933 Act unless and exemption from registration is
available prior to any issuance or sale of the Contracts and that the Contracts
will be issued and sold in compliance in all material respects with applicable
federal and state laws and further that the sale of the Contracts shall comply
in all material respects with state insurance law suitability requirements.

                                       4
<PAGE>

         (d) The Company represents and warrants that the Contracts are
currently and at the time of issuance will be treated as life insurance,
endowment or annuity contracts under applicable provisions of the Code, that it
will maintain such treatment and that it will notify the Fund immediately upon
having a reasonable basis for believing that the Contracts have ceased to be so
treated or that they might not be so treated in the future.

         (e) The Fund and the Advisor represent and warrant that the Shares
offered and sold pursuant to this Agreement will be registered under the 1933
Act to the extent required by that Act and sold in accordance with all
applicable federal and state laws, and that the Fund shall be registered under
the 1940 Act to the extent required by that Act, prior to and at the time of any
issuance or sale of such Shares. The Fund shall qualify its Shares for sale in
accordance with the laws of the various states only if and to the extent deemed
advisable by the Fund.

         (f) The Fund and the Advisor represent and warrant that each Series
will comply with the diversification requirements set forth in Section 817(h) of
the Code and applicable regulations thereunder and will notify the Company
immediately upon having a reasonable basis for believing any Series has ceased
to comply or might not so comply and will immediately take all reasonable steps
to adequately diversify the Series to achieve compliance.

         (g) The Fund and the Advisor represent and warrant that each Series in
which the Accounts invest is currently qualified as a "regulated investment
company" under Subchapter M of the Code and will maintain such qualification.
The Fund and the Advisor will notify the Company immediately upon having a
reasonable basis for believing any Series has ceased to comply or might not so
comply in the future.

         14. Indemnification.
             ----------------

         (a) The Fund and the Advisor agree to indemnify, defend and hold the
Company, its officers, directors, employees and agents and any person who
controls the Company within the meaning of Section 15 of the 1933 Act (referred
to in this Section 14(a) collectively as "Indemnified Parties"), free and
harmless from and against any and all claims, demands, liabilities and expenses
(including the cost of investigating or defending such claims, demands or
liabilities, amounts paid in settlement with the consent of the Fund and the
Advisor and any counsel fees incurred in connection therewith) which the
Indemnified Parties may incur under the 1933 Act, or under common law or
otherwise, (i) arising out of or based upon any alleged untrue statement of a
material fact contained in the Fund Registration Statement or arising out of or
based upon any alleged omission to state a material fact required to be stated
in the Fund Registration Statement or necessary to make the statements therein
not misleading, except insofar as such claims, demands, liabilities or expenses
arise out of or are based upon any such untrue statement or omission or alleged
untrue statement or omission made in reliance upon and in conformity with
information furnished in writing by or on behalf of the Company to the Fund or
the Advisor for use in the Fund Registration Statement or otherwise for use in
connection with the sale of Contracts or Shares; (ii) arising out of or based
upon statements or representations (other than statements or representations
made in reliance upon and in conformity with information furnished in writing by
or on behalf of the Company) or wrongful conduct of the Advisor or the Fund or
persons under its control concerning the sale or distribution of the

                                       5
<PAGE>

Contracts or Shares; (iii) arising out of or based upon any alleged omission to
state a material fact required to be stated in the registration statement for
the Contracts (including any amendment or supplement to the prospectus or
statement of additional information) ("Contract Registration Statement") or
necessary to make the statements therein not misleading, if such claims,
demands, liabilities or expenses arise out of or are based upon any such untrue
statement or omission or alleged untrue statement or omission made in reliance
upon and in conformity with information furnished in writing by or on behalf of
the Advisor or the Fund to the Company for use in the Contract Registration
Statement; or (iv) arise out of or result from any material breach of the
representations and/or warranties made by the Advisor or the Fund in this
Agreement or any other material breach of this Agreement by the Advisor or the
Fund. In no event shall anything contained herein be so construed as to protect
the Company against any liability to the Advisor or the Fund or to the
shareholders of any Series to which the Company would otherwise be subject by
reason of willful misfeasance, bad faith or gross negligence in the performance
of its duties or by reason of its reckless disregard of its obligations under
this Agreement.

         (b) The Fund and the Advisor shall not be liable to the Company under
this indemnity provision with respect to any claim made against the Company or
any other Indemnified Party unless the Company or other such person shall have
notified the Fund and the Advisor in writing of the claim within a reasonable
time after the summons or other first written notification giving information of
the nature of the claim shall have been served upon the Indemnified Party (or
after the Indemnified Party shall have received notice of service on any
designated agent). However, failure to notify the Fund and the Advisor of any
claim shall not relieve the Fund and the Advisor from any liability which it may
have to an Indemnified Party otherwise than on account of this indemnity
provision. Both the Fund and the Advisor shall be entitled to participate at its
own expense in the defense or, if it so elects, to assume the defense of any
suit brought to enforce any claims subject to this indemnity provision. If the
Fund and/or the Advisor elect to assume the defense of any such claim, the
defense shall be conducted by counsel chosen by the Fund and/or the Advisor, as
applicable, and satisfactory to the Indemnified Parties in the suit whose
approval shall not be unreasonably withheld. In the event that the Fund and/or
the Advisor elect to assume the defense of any suit and retain counsel, the
Indemnified Parties shall bear the fees and expenses of any additional counsel
retained by them. If the Fund and/or the Advisor do not elect to assume the
defense of a suit, it will reimburse the Indemnified Parties for the reasonable
fees and expenses of any counsel retained by them.

         (c) The Company agrees to indemnify, defend, and hold the Advisor, the
Fund, and each of their officers, trustees, employees and agents and any person
who controls the Advisor or the Fund within the meaning of Section 15 of the
1933 Act (in this Section 14(c), referred to collectively as "Indemnified
Parties"), free and harmless from and against any and all claims, demands,
liabilities and expenses (including the cost of investigating or defending
against such claims, demands or liabilities, amounts paid in settlement with the
consent of the Company and any counsel fees incurred in connection therewith)
which the Indemnified Parties may incur under the 1933 Act or under common law
or otherwise (i) arising out of or based upon any alleged untrue statement of a
material fact contained in the Contract Registration Statement or in the
Contracts themselves or in any sales literature generated or approved by the
Company on behalf of the Contracts or Accounts or arising out of or based upon
any alleged omission to state a material fact in connection with such
information required to be stated in the Contract

                                       6
<PAGE>

Registration Statement, Contracts or such sales literature necessary to make the
statements therein not misleading, except insofar as such claims, demands,
liabilities or expenses arise out of or are based upon any such untrue statement
or omission or alleged untrue statement or omission made in reliance upon and in
conformity with information furnished in writing by or on behalf of the Advisor
or the Fund to the Company for use in the Contract Registration Statement, the
Contracts or such sales literature or otherwise for use in connection with the
sale of Contracts or Shares; (ii) arising out of or based upon statements or
representations (other than statements made in reliance upon and in conformity
with information furnished in writing by or on behalf of the Advisor or the
Fund) or wrongful conduct of the Company or persons under its control concerning
the sale or distribution of the Contracts or Shares; (iii) arising out of or
based upon any alleged omission to state a material fact required to be stated
in the Fund Registration Statement or necessary to make the statements therein
not misleading, if such claims, demands, liabilities or expenses arise out of or
are based upon any such untrue statement or omission or alleged untrue statement
or omission made in reliance upon and in conformity with information furnished
in writing by or on behalf of the Company to the Advisor or the Fund for use in
the Fund Registration Statement; or (iv) arise out of or result from any
material breach of the representations and/or warranties made by the Company in
this Agreement or any other material breach of this Agreement by the Company. In
no event shall anything contained herein be so construed as to protect the
Advisor or the Fund against any liability to the Company which the Advisor or
the Fund would otherwise be subject by reason of willful misfeasance, bad faith
or gross negligence in the performance of its duties or by reason of its
reckless disregard of its obligations under this Agreement.

         (d) The Company shall not be liable to the Advisor or the Fund under
this indemnity provision with respect to any claim made against the Advisor or
the Fund or any other Indemnified Party unless the Advisor or the Fund or other
such person shall have notified the Company in writing of the claim within a
reasonable time after the summons or other first written notification giving
information of the nature of the claim shall have been served upon the
Indemnified Party (or after the Indemnified Party shall have received notice of
service on any designated agent). However, failure to notify the Company of any
claim shall not relieve the Company from any liability which it may have to an
Indemnified Party otherwise than on account of this indemnity provision. The
Company shall be entitled to participate, at its own expense, in the defense or,
if it so elects, to assume the defense of any suit brought to enforce any claims
subject to this indemnity provision. If the Company elects to assume the defense
of any such claim, the defense shall be conducted by counsel chosen by the
Company and satisfactory to the Indemnified Parties in the suit whose approval
shall not be unreasonably withheld. In the event that the Company elects to
assume the defense of a suit and retain counsel, the Indemnified Parties shall
bear the fees and expenses of any additional counsel retained by them. If the
Company does not elect to assume the defense of any suit, it will reimburse the
Indemnified Parties for the reasonable fees and expenses of any counsel retained
by them.

         (e) These indemnification provisions shall survive termination of this
Agreement.

                                       7
<PAGE>

         15. Potential Conflicts.
             --------------------

         (a) The trustees of the Fund will monitor the operations of the Fund
for the existence of any material irreconcilable conflict among the interests of
all Contract owners of all separate accounts investing in each Series of the
Fund. An irreconcilable conflict may arise, among other things, from (i) an
action by any state insurance regulatory authority; (ii) a change in applicable
insurance laws or regulations; (iii) a tax ruling or provision of the Code or
the regulations thereunder; (iv) any other development relating to the tax
treatment of insurers, contract holders or policy owners or beneficiaries of
variable annuity or variable life insurance products; (v) the manner in which
the investments of any Series are managed; (vi) a difference in voting
instructions given by variable annuity contract owners, on the one hand, and
variable life insurance policy owners on the other hand, or by the contract
holders or policy owners of different Participating Insurance Companies; or
(vii) a decision by an insurer to override the voting instructions of
participating contract owners.

         (b) The Company is responsible for reporting any potential or existing
conflicts to the trustees of the Fund. The Company will be responsible for
assisting the trustees in carrying out their responsibilities under this Section
15(b) and Section 15(a), by providing the trustees with all information
reasonably necessary for them to consider the issues raised. The Fund will also
request the Advisor to report to the trustees any such conflict which comes to
its attention.

         (c) If a majority of the trustees of the Fund or a majority of its
disinterested trustees determine that a material irreconcilable conflict exists
involving the Company, the Company shall, at its expense and to the extent
reasonably practicable (as determined by a majority of the disinterested
trustees), take whatever steps are necessary to eliminate the irreconcilable
material conflict, including withdrawing the assets allocable to some or all of
the separate accounts from the Fund or any Series and reinvesting such assets in
a different investment medium, including another Series of the Fund, offering to
the affected Contract owners the option of making such a change or establishing
a new funding medium, including a registered investment company.

         For purposes of this Section 15(c), the trustees or the disinterested
trustees shall determine whether any proposed action adequately remedies any
irreconcilable material conflict. In the event of a determination of the
existence of an irreconcilable material conflict, the trustees shall cause the
Fund to take such action, such as the establishment of one or more additional
Series, as they in their sole discretion determine to be in the interest of all
shareholders and Contract owners in view of all applicable factors, such as the
cost, feasibility, tax, regulatory and other considerations. In no event will
the Fund be required by this Section 15(c) to establish a new funding medium for
any Contract.

         The Company shall not be required by this Section 15(c) to establish a
new funding medium for any Contract if an offer to do so has been declined by a
vote of a majority of the Contract owners materially adversely affected by the
material irreconcilable conflict. The Company will recommend to its Contract
owners that they decline an offer to establish a new funding medium only if the
Company believes it is in the best interests of the Contract owners.

                                       8
<PAGE>

         16. Duration and Termination. This Agreement shall become effective as
             -------------------------
of the date hereof and shall continue in full force and effect until
terminated as set forth below:

         (a) At the option of the Fund, the Advisor or the Company, upon receipt
of sixty (60) days' written notice, unless a shorter time is agreed to in
writing by all parties hereto.

         (b) At the option of the Fund, the Advisor or the Company, upon the
institution of formal proceedings against a party by the SEC, the NASD or any
other regulatory body, the expected or anticipated outcome of which would, in
the judgment of the terminating party, materially impair the other party's
ability to meet and perform its obligations under this Agreement. Notice of an
election to terminate under this provision shall be furnished in writing and
shall be effective upon receipt.

         (c) Upon the determination by the Company to substitute for the Fund's
shares the shares of another investment company in accordance with the terms of
the applicable Contract. The Company will give sixty (60) days' written notice
to the Fund and the Advisor of any decision to replace the Fund's shares. Such
sixty (60) day period will commence upon the Fund's or the Advisor's receipt of
such written notice.

         (d) In the event the Fund's Shares are not registered, issued or sold
in accordance with applicable federal or state law or such law precludes the use
of Shares as the underlying investment medium of the Contracts, the Company may
terminate this Agreement effective upon giving notice to the Fund and the
Advisor.

         (e) In the event the Contracts cease to qualify as annuity contracts or
life insurance contracts, as applicable under the Code or if the Fund or the
Advisor reasonably believes that the Contracts may fail to so qualify, the Fund
or the Advisor may terminate this Agreement effective upon giving notice to the
Company.

         (f) At the option of the Fund or the Advisor, upon the Company's breach
of any material provision of this Agreement, which breach has not been cured to
the satisfaction of the Fund or the Advisor within 10 days after written notice
of such breach is delivered to the Company.

         (g) At the option of the Company, upon the Fund's or the Advisor's
breach of any material provision of this Agreement, which breach has not been
cured to the satisfaction of the Company within 10 days after written notice of
such breach is delivered to the Fund and the Advisor.

         (h) At the option of the Fund or the Advisor, if the Contracts are not
registered, issued or sold in accordance with applicable federal and/or state
law. Notice of an election to terminate under this provision shall be shall be
effective immediately without notice.

         (i) This Agreement shall terminate immediately in the event of its
assignment unless such assignment is made with the prior written consent of the
other party. Termination under this provision shall be effective immediately
without notice.

                                       9
<PAGE>

         17. Amendment of this Agreement. No provision of this Agreement may be
             ----------------------------
changed, waived, discharged or terminated orally, but only by an instrument in
writing signed by the party against which enforcement of the change, waiver,
discharge or termination is sought.

         18. Governing Law. This Agreement shall be construed in accordance
             --------------
with the laws of the State of New York and the 1940 Act. To the extent that
the applicable laws of the State of New York conflict with the applicable
provisions of the l940 Act, the latter shall control.

         19. Notice. Any notice required or permitted to be given by either
             -------
party to the other shall deemed sufficient upon receipt in writing at the
other party's principal offices.

         20. Successors and Assigns. This Agreement shall be binding upon and
             -----------------------
inure to the benefit of the parties hereto and their respective permitted
successors and assigns.

         21. Counterparts. This Agreement may be executed in any number of
             -------------
counterparts, all of which taken together shall constitute one agreement,
and any party hereto may execute this Agreement by signing any such
counterpart.

         22. Severability. In case any one or more of the provisions contained
             -------------
in this Agreement should be invalid, illegal or unenforceable in any
respect, the validity, legality and enforceability of the remaining
provisions contained herein shall not in any way be affected or impaired
thereby.

         23. Entire Agreement. This Agreement constitutes the entire agreement
             -----------------
and understanding between the parties and supercedes any prior agreement or
understanding relating to the subject matter hereof.

         24. Miscellaneous. The captions in this Agreement are included for
             --------------
convenience of reference only and in no way define or delimit any of the
provisions hereof or otherwise affect their construction or effect. As used
in this Agreement, the term "assignment" shall have the same meaning as
such term has in the l940 Act.

                                       10
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their officers designated as of the day and year first above
written.

    BRINSON SERIES TRUST

    By:   /s/ Amy R. Doberman
          -------------------
    Name: Amy R. Doberman
    Title:   Secretary and Vice President

    By:   /s/ Keith A. Weller
          -------------------
    Name:  Keith A. Weller
    Title: Vice President and Assistant Secretary

    BRINSON ADVISORS, INC.

    By:   /s/ Julian Sluyters
          -------------------
    Name: Julian Sluyters
    Title:   Managing Director

    By:   /s/ Stephen Fisher
          ------------------
    Name:  Stephen Fisher
    Title:  Managing Director

    GOLDEN AMERICAN LIFE
    INSURANCE COMPANY

    By:     /s/ Myles Tashman
            -----------------
    Name:   Myles Tashman
    Title:  Executive Vice President

    By:     /s/ David L. Jacobson
            ---------------------
    Name:   David L. Jacobson
    Title:  Senior Vice President

                                       11
<PAGE>

                                   SCHEDULE A

      Accounts of Company Participating in Series of Brinson Series Trust:

Name of Separate Account                          Date Established
------------------------                          ----------------
Golden American Separate Account B                July 14, 1988

                                       12
<PAGE>

                                   SCHEDULE B

         Series of Brinson Series Trust offered to Accounts of Company:
          -------------------------------------------------------------

Tactical Allocation Portfolio

                                       13
<PAGE>

                                   SCHEDULE C

The following costs, expenses and reimbursements will be paid by the party
indicated:

     1.   The Fund shall be liable to the Company for systems and out-of-pocket
          costs incurred by the Company in making a Contract owner's or a
          participant's account whole, if such costs or expenses are a result of
          the Fund's failure to provide timely or correct net asset value
          ("NAV") information, dividends and capital gains or financial
          information and if such information is not corrected by 4:00 p.m.,
          Eastern time, on the next business day after the release of such
          incorrect information. If a mistake is caused in supplying such
          information or confirmations which results in a reconciliation with
          incorrect information, the amount required to make a Contract owner's
          or a participant's account whole shall be borne by the party providing
          the incorrect information, regardless of when the error is corrected.

     2.   The Fund shall pay for the cost of typesetting and printing periodic
          fund reports to shareholders, prospectuses and any supplements
          thereto, statements of additional information and supplements thereto,
          and other materials that are required by law to be sent to Contract
          owners or participants, as well as the cost of distributing such
          materials to the Company. The Company shall pay for the distribution
          thereof for prospective Contract owners or participants. Each party
          shall be provided with such supporting data as may reasonably be
          requested for determining these expenses.

     3.   The Fund shall pay all expenses in connection with the provision to
          the Company of a sufficient quantity of its proxy materials. The cost
          associated with proxy preparation, group authorization letters,
          programming for tabulation and necessary materials (including postage)
          will be paid by the Fund.

                                       14
<PAGE>

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