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EXHIBIT 4(m)
----GOLDEN GUARANTEED DEATH
-------AMERICAN BENEFIT AND TRANSFER
---------LIFE INSURANCE ENDORSEMENT
-------COMPANY
Golden American is a stock company domiciled in Delaware.
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On the Endorsement Effective Date, the provisions of the Contract
to which this endorsement is attached are amended as follows. If
no Endorsement Effective Date is shown, the Endorsement Effective
Date is the same as the Contract Date. Where used in this
Endorsement, the term Contract shall include any Certificate to
which this Endorsement is attached. Where the provisions of this
Endorsement conflict with the provisions of the Contract as of
the Endorsement Effective Date, the provisions of this
Endorsement will control.
DEATH BENEFIT
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The Death Benefit is the greatest of (i) and (ii) below, where:
(i) is the Accumulation Value less any Credits applied within
[12] months of the date of death; and
(ii) is the Cash Surrender Value;
DEDUCTIONS FROM THE DIVISIONS
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Mortality and Expense Risk Charge - We deduct a charge from the
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assets in each Separate Account division on a daily basis of not
more than [0.003724%] (equivalent to an annual maximum rate of
[1.35%]) for mortality and expense risks. The charge is not
deducted from the Fixed Account or General Account accumulation
values.
RESTRICTED FUNDS
Restricted Funds are subject to limits as to amounts which may be
invested or transferred into such divisions. The designation of
a division as a Restricted Fund may be changed upon 30 days
notice to the Owner with regard to future transfers and premium
payments into such division. When a new division is made
available it may be designated as a Restricted Fund. If so
designated, the rules regarding its restrictions will be sent to
the Owner. Also listed below are the total Contract limits for
Restricted Funds. Listed below are the total Contract limits for
Restricted Funds.
THRESHOLDS
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MAXIMUM
ALLOCATION % OF MAXIMUM
ACCUMULATION VALUE PREMIUM % DOLLAR CAP
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Contract Limits [30%] [99.999%] [$9,999,999]
THRESHOLDS
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Each Restricted Fund has one or more thresholds at which point no
further amounts may be allocated to that division. Compliance
with a threshold is verified whenever there is a transaction
initiated which is subject to such threshold (premium payments,
transfers, withdrawals). A threshold is applied to the total
Accumulation Value of each Restricted Fund. Thresholds may be
changed by the Company for new premiums, transfers or withdrawals
by Restricted Fund upon 30 day notice.
DOLLAR CAP
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The Dollar Cap is the dollar amount at which no further
Accumulation Value may be added to Restricted Funds.
GA-RA-1044-5.doc
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PREMIUM THRESHOLD
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The threshold for premium by Restricted Fund limits the amount of
any premium which may be allocated to that division. Should a
request for allocation to a Restricted Fund exceed the limit in
effect for that division or for the Contract, any excess over
that amount shall be allocated prorata to any non-Restricted
Fund(s) in which the contract is then invested. Should the
Contract not be invested in other non-Restricted Funds, the
excess will be invested in the Specially Designated Division
unless we receive written instructions to do otherwise. Premium
allocations must also satisfy the Allocation Threshold.
ALLOCATION THRESHOLD
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Allocations into a Restricted Fund are limited to that amount
such that the Accumulation Value in that Restricted Fund after
such allocation does not exceed the threshold for that division
and does not cause the Contract's total limit on allocation to
Restricted Funds to be exceeded. If the amount of an allocation
would cause either limit to be exceeded, the allocation will only
be executed to the extent the lower limit would allow.
Allocations from a Restricted Fund will be allowed even if the
amount remaining in the Restricted Fund after an allocation
exceeds the allocation threshold. If a program of allocations
over time is authorized by us, verification of the threshold will
be performed at the initiation of such program. If such program
is modified at a later date, a testing of thresholds will be done
at that time.
THRESHOLDS - EFFECT ON WITHDRAWALS
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If a withdrawal is requested while any Accumulation Value is
allocated to Restricted Funds and the Allocation Threshold
percentage is currently exceeded, the percentage for funds
invested in Restricted Funds for the total Contract, after taking
into account the withdrawal, may not be higher than prior to the
withdrawal. Should the calculated effect of a withdrawal result
in the total Contract threshold being exceeded, the excess
portion of the withdrawal will be processed prorata from all
variable divisions.
Systematic withdrawals, while the Contract has investments in
Restricted Funds, if not withdrawn prorata from all divisions,
shall be monitored annually to assure threshold compliance.
Should the effect of such withdrawals cause a Restricted Fund to
exceed its threshold, the divisions from which the withdrawals
are processed may be adjusted to assure that the percentage of
Accumulation Value in the Restricted Funds does not increase.
THRESHOLD PROCESSING
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For the purpose of calculating any thresholds, the values for the
divisions will be determined using the prior day's closing index
of investment experience.
All other provisions of the Contract to which this Endorsement is
attached remain unchanged.
Signed: /s/ Barnett Chernow
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Barnett Chernow
GA-RA-1044-5.doc 2
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