Document:

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                                 EXHIBIT (10)(b)

                         OPINION AND CONSENT OF ACTUARY

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                [Transamerica Life Insurance Company Letterhead]

October 6, 2003

Transamerica Life Insurance Company
4333 Edgewood Road NE
Cedar Rapids, Iowa 52499-0001

Re:  Flexible Premium Variable Annuity - D
     Separate Account VA S
     Registration on Form N-4

Dear Sir/Madam:

With regard to the above registration statement, I have examined such documents
and made such inquiries as I have deemed necessary and appropriate, and on the
basis of such examination, have the following opinions:

Fees and charges deducted under the Flexible Premium Variable Annuity - D
policies are those deemed necessary to appropriately reflect:

(1)  the expenses incurred in the acquisition and distribution of the policies,

(2)  the expenses associated with the development and servicing of the policies,

(3)  the assumption of certain risks arising from the operation and management
     of the policies and/or riders to the policy and that provides for a
     reasonable margin of profit.

Fees and charges assessed against the policy values in the variable account
include:

(i)   Service Charge and Administrative Charge

(ii)  Mortality and Expense Risk Fee (M&E)

(iii) Taxes (including premium and other taxes if applicable)

(iv)  Surrender Charges

(v)   Any applicable rider fees or charges

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Transamerica Life Insurance Company
October 6, 2003
Page 2

The magnitude of each of the individual charges listed above in (i) through (v)
is established in the pricing of the Flexible Premium Variable Annuity - D, to
achieve a reasonable Return on Investment (ROI), which is within the range of
industry practice with respect to comparable variable annuity products.

Except by coincidence, it is not expected that actual charges assessed in a
given year would exactly offset actual expenses incurred. Acquisition expenses
(as well as major product and/or systems development expenses) are incurred "up
front" and recovered, with a reasonable profit margin, through future years'
charges. In addition, the company cannot increase certain charges under the
policies in the pricing process.

Therefore, in my opinion, the fees and charges deducted under the policies, in
the aggregate, are reasonable in relation to the services rendered, the expenses
expected to be incurred, and the risks assumed by the company.

I hereby consent to the use of this opinion, which is included as an Exhibit to
the registration statement.

/s/ R. Gene Hauser
-----------------------------
R. Gene Hauser
Associate Actuary
Transamerica Life Insurance Company<PAGE>

                                                                     Exhibit 4.2

                    Amended and restated employment agreement

The undersigned:

1. Royal Ahold, established at Zaandam, the Netherlands represented by the
   Supervisory Board, hereinafter "AHOLD";

and

2. Anders Moberg residing at ___________ Atlanta, GA _______, in the United
   States, hereinafter "the CEO";

Whereas:

The CEO has been appointed as President and CEO of the Executive Board of AHOLD
at the General Meeting of Shareholders of AHOLD of 4 September 2003.

Prior to such appointment, the parties to this contract entered into an
Employment Agreement dated April 29, 2003, the terms of which they now wish to
amend and restate.

Declare and have agreed as follows:

1. Date of Commencement of Employment and Position

  1.1. The CEO entered into an employment agreement with AHOLD for an indefinite
       period of time, effective as of May 5, 2003 (hereinafter: the "Date of
       Employment").

  1.2. By virtue of the appointment by the General Meeting of Shareholders, the
       CEO will serve, in the position of President and CEO of the Executive
       Board of AHOLD (in Dutch: `statutair directeur').

  1.3. The CEO's place of employment will be the office of AHOLD in the
       Netherlands.

  1.4. The CEO shall fulfil all obligations vested in him by law and in
       instructions determined or to be determined in a management regulation.
       The CEO will carry, as a member of the Executive Board, full and joint
       responsibility for all activities of AHOLD. The operative mode of the
       Executive Board is one of consensus under the chairmanship of the
       President. Nevertheless, every member of the Board is entrusted with
       specific responsibilities.

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  1.5. The CEO is obliged to do or to refrain from doing all that CEOs in
       similar positions should do or shhould refrain from doing. The CEO shall
       fully devote himself, his time and his energy to promoting the interest
       of AHOLD.

  1.6. Notwithstanding paragraph 1.4, AHOLD acknowledges the CEO currently
       serving on several other boards as a non-executive. This number of boards
       will be downsized to 3 (whereof one as chairman) in the two years
       following the Date of Employment.

  1.7. The CEO shall refrain from accepting new remunerated or time consuming
       non-remunerated work activities with or for third parties or from doing
       active business for his own account without the prior written consent of
       AHOLD.

2. Duration of the Agreement and Notice of Termination

  2.1. This agreement is entered into for a indefinite period of time,
       commencing on May 5, 2003.

  2.2. The CEO's employment agreement shall terminate in connection with the CEO
       reaching a pensionable age:

       * Upon the CEO's request after reaching the age of 60 in which case no
         notice period will have to be observed.

       * By decision of AHOLD after reaching the age of 60 in which case no
         notice period will have to be observed.

       * In any event, without notice being required, on the first day of the
         month following the date on which the CEO reaches the age of 62.

       In the event the employment is terminated under this clause 2.2, clause
       10 shall not apply.

  2.3. Ultimately May 1, 2008 AHOLD and the CEO will consider whether
       continuation of the employment agreement is desirable (without prejudice
       to the undefined term of the agreement).

  2.4. This agreement may be terminated with due observance of a notice period
       of 52 weeks for AHOLD and 26 weeks for the CEO.

3. Salary

  3.1. The CEO's salary shall amount to Euro 1,500,000.-- (one million five
       hundred thousand Euro) gross per year (inclusive holiday allowance). The
       salary shall be paid in 13 equal instalments at the end of each 4-weeks
       period. The possibility exists that the CEO may be appointed a director
       of AHOLD USA or another affiliate of AHOLD. In such case, the CEO's total
       remuneration will be apportioned between AHOLD and the AHOLD affiliate(s)
       accordingly. This will be further defined.

  3.2. The CEO will be offered tax assistance by an external audit firm also in
       order to optimize the tax position regarding employment income. AHOLD
       will apply for the tax beneficial regime for employees recruited from
       abroad (30%-ruling) on the CEO's behalf.

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4. Bonus, Stock Options and Shares

  4.1  AHOLD shall annually pay the CEO a bonus based on the degree of
       realization of targets. These targets will be set from year to year by
       mutual agreement between the CEO and the Supervisory Board of AHOLD and
       will be laid down from time to time in separate target letters. The
       maximum bonus amounts to 2.5 times the gross base salary as per section
       3.1 of this employment agreement. For the year 2003, the bonus will be
       calculated pro rated from the Date of Employment.

  4.2  In the interest of AHOLD, ESOS will grant to the CEO, subject to the
       terms and conditions of the AHOLD Stock Option Plan, an award of
       1,000,000 stock options. The grant date will be the first possible date
       after the Date of Employment, but no earlier than on the date when all
       (legal) requirements have been met, all parties involved have been
       notified and all necessary approvals from the authorities and parties
       involved have been obtained. The exercise price of the options will be
       set at the fair market value of the shares at the grant date. The option
       grant consists of 50% short term options (5 year) and 50% long term
       options (10 years).

       For Dutch tax purposes, the CEO may opt to pay taxes upfront at grant or
       to defer taxation until exercise. All personal or income tax obligations
       and social security charges resulting from the grant, vesting or exercise
       of stock options are the responsibility of the CEO.

  4.3  The CEO may participate in the AHOLD Stock Option Plan, for the first
       time in 2004. The number of stockoptions will be determined by ESOS on
       the recommendation of Royal AHOLD's Supervisory Board.

  4.4  AHOLD will grant to the CEO 250,000 shares of common stock, subject to
       the terms and conditions of the AHOLD Restricted Stock Plan, to be
       introduced shortly. Alternatively, the CEO will be granted 250,000 shares
       of common stock as soon as practical following the Date of Employment
       subject to the terms and conditions of the Share Plan still to be
       drafted. The CEO has the option to choose from one of the above
       alternatives.

5. Expenses and Company Car

  5.1. AHOLD shall reimburse all reasonable expenses incurred by the CEO in the
       performance of his duties upon submission of all the relevant invoices
       and vouchers.

  5.2. AHOLD shall pay the CEO each period of 4 weeks an allowance of Euro 700
       net in addition to his salary for out-of-pocket expenses.

  5.3. AHOLD shall provide the CEO with a company car for the performance of his
       duties (not for private use) and on such further conditions as shall be
       determined by AHOLD from time to time. The CEO shall have the free usage
       of the services of a private driver.

  5.4. AHOLD shall pay those costs of a private telephone, mobile phone and fax
       machine for the CEO, which are in excess of the amount that must be paid
       by the CEO in order to avoid taxliability for AHOLD, to the extent that
       those costs are reasonable. The

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       CEO shall be provided with a computer connected to the AHOLD network and
       have free usage of an internet connection.

  5.5. AHOLD shall pay on the CEO's behalf all business-related statements
       rendered to the CEO by his attorneys, tax advisors, accountants and other
       advisors for reasonable fees and expenses in connection with the
       negotiation and preparation of this Agreement. AHOLD shall also pay the
       CEO all business-related statements rendered by aforementioned advisors
       with respect to the tax declarations and other ongoing tax issues and
       legal issues related to his professional activities for AHOLD, during
       employment.

  5.6. The CEO will shift his residency to The Netherlands as soon as practical.
       The CEO will receive a settling in allowance amounting to a net payment
       of Euro 50,000,--. In addition, AHOLD will provide home search assistance
       to help secure appropriate accommodation. AHOLD shall reimburse the CEO
       for reasonable temporary living expenses (including reasonable travel
       expenses between the CEO's primary residence as of the Date of Employment
       in the Netherlands) for the CEO and his family in the Netherlands for a
       period not to exceed 15 months from the Date of Employment.

  5.7. AHOLD shall pay the CEO's moving expenses for the relocation from the USA
       to The Netherlands. For the selling of the CEO's home in the USA, the
       relevant rules of the AHOLD USA Relocation Policy apply, such as:

       * Home sale:

       marketing assistance program provided by Prudential Relocation; mandatory
       participation; guaranteed home sale program consisting of: Appraised
       Value Program (guaranteed offer from Prudential) and Amended Value
       Program (opportunity to amend the appraised value offer from Prudential).

       * Duplicate housing:

       expenses reimbursed for up to 60 days for mortgage interest, taxes,
       insurances, utilities and maintenance on the lesser of the two payments.

  5.8  The CEO will be compensated for any losses resulting from the sale of his
       house in the United States at short notice, due to him moving himself and
       his family to the Netherlands at such short notice. The losses will
       amount to the difference between the determination of the value made by
       the beginning of May 2003 (in accordance with the guaranteed home sale
       program as part of the AHOLD USA Relocation Policy) and the actual sales
       price. Any income taxes or capital gain taxes payable related to the gain
       on the sale of real estate in the US are for the account of the CEO.
       Stamp duties, real estate commissions and other selling costs are for the
       account of AHOLD. Any costs, commissions, and taxes payable resulting
       from the purchase of a house in the Netherlands will be for the account
       of the CEO.

  5.9  All expenses paid under this agreement by AHOLD on behalf of the CEO
       which may be considered taxable income, shall be grossed up by AHOLD.

6. Holidays

  6.1. The CEO shall be entitled to a reasonable amount of working days vacation
       per year, in line with the Dutch practices. In taking vacation, the CEO
       shall duly observe the interests of AHOLD.

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7.  Insurances and pension

  7.1. The CEO may participate in the group health insurance contract at De
       Amersfoortse insurance company. AHOLD shall contribute 1,948.-- Euro
       gross (2003) annually as contribution in the premium for medical costs
       insurance for the CEO.

  7.2. It is the intention of AHOLD and the CEO that AHOLD shall take out a life
       insurance, covering for death and permanent disability, as will be
       defined in the insurance policy for the benefit of the CEO. AHOLD shall
       bear the costs involved. Any tax consequences related to the premium
       costs involved, are for the account of AHOLD. The sum insured will equal
       two times the gross base salary increased with the gross average bonus
       over the last two years. In the event of disability the sum insured will
       be payable only if and when the CEO shall have resigned as per the date
       that the sum insured shall be payable.

  7.3. Parties realize and acknowledge that a mechanism will have to be decided
       on in respect of partial disability and the effects thereof.

  7.4. In case AHOLD shall not be able to obtain said life insurance, a
       mechanism shall be agreed on, based on which an amount equal to the
       intended sum insured will be payable in case of death or permanent
       disability.

  7.5. AHOLD shall maintain suitable insurance in respect of managing director's
       liability in order to indemnify the CEO from all losses, liabilities and
       costs that he may incur arising out of the liability as managing director
       of AHOLD.

  7.6. AHOLD shall pay out to the CEO in addition to the salary as defined in
       article 3 of this agreement, the employer retirement pension contribution
       as a gross amount, calculated on the basis of annual net base salary and
       in accordance with the Other Country Nationals Pension Scheme.

8.  Sickness

  8.1. In the event of sickness, AHOLD shall pay to the CEO from the first day
       of sickness his salary as defined in article 3 and 4 up to a maximum of
       52 weeks as from the first day of sickness, according to the requirements
       of the Dutch Civil Code.

9.  Termination by AHOLD for cause

  9.1. AHOLD may at any time terminate the CEO's employment with immediate
       effect for "Cause" (as defined in article 7:678 of the Dutch Civil Code).

10. Obligations of AHOLD upon termination

  10.1 If AHOLD shall terminate the CEO's employment other than for Cause, the
       Supervisory Board of AHOLD and the CEO will negotiate in good faith,
       taking all circumstances (whether or not (in)directly leading to the
       termination of the employment) into account, on the possibility and the
       amount of a severance payable to the CEO.

  10.2 Contrary to the rules of the AHOLD Stock Option Plan, the rules as set
       out below will apply in case of termination of employment.

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        If during the life of such option right the CEO's employment terminates,
        the CEO will be allowed a period of 24 months to exercise the options,
        after the date of termination, however not exceeding the original term
        of the options. For options granted not in excess of 15 months prior to
        termination of employment, the CEO will be allowed to exercise these
        options until 3 months after the third anniversary of the grant.

11. Confidentiality

  11.1. The CEO shall throughout the duration of this agreement and after this
        agreement has been terminated for whatever reason, refrain from
        disclosing in any manner to any individual any information of a
        confidential nature concerning the AHOLD group or other companies
        affiliated with AHOLD, which has become known to the CEO as a result of
        his employment with AHOLD and of which the CEO knows or should have
        known to be of a confidential nature.

12. Gifts

  12.1. The CEO shall not in connection with the performance of his duties,
        directly or indirectly, accept or demand commission, contributions or
        reimbursement in any form whatsoever from third parties. This does not
        apply to customary promotional gifts of little value.

13. Amendments

  13.1. Amendments to this agreement may only be agreed upon in writing and with
        regard to AHOLD, solely when a decision to that effect has been taken by
        the competent body of AHOLD.

14. Applicable Law

  14.1. This agreement is governed by the laws of the Netherlands.

In witness whereof, this amended and restated agreement has been signed and
executed in duplicate this Tuesday, October 14, 2003.

/s/ K. Vuursteen                             /s/ Anders Moberg
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AHOLD Supervisory Board                      the President and CEO
by K. Vuursteen

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