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EXHIBIT 4(n)
----GOLDEN EXCLUDED FUNDS AND TRANSFER
-------AMERICAN ENDORSEMENT
---------LIFE INSURANCE
-------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. The terms used in this
Endorsement shall be interpreted to apply only to the portion of
the Contract values allocated to Excluded Funds.
When the Owner elects to invest in an Excluded Fund, as defined
herein, components of the Death Benefit of the Contract that
represent the portion of the Accumulation Value invested in
Excluded Funds will be calculated in accordance with this
endorsement. When an investment is made in an Excluded Fund, any
guarantee of the Contract regarding a Death Benefit in excess of
the Accumulation Value (except Cash Surrender Value) will not
apply to amounts invested in Excluded Funds and may be
permanently affected by such investment regardless of any future
allocation of Accumulation Value.
DEATH BENEFIT
-------------
For each Death Benefit component described in the Contract,
except Cash Surrender Value where applicable, the portion that
represents Excluded Funds will equal the Accumulation Value
allocated to Excluded Funds.
For purposes of allocating each such Death Benefit component
between Excluded Funds and non-Excluded Funds, the following
rules apply. For each component of Death Benefit described in
the Contract, a corresponding Excluded Funds Death Benefit Base
is maintained. Each Excluded Funds Death Benefit Base has the
same definition as the Death Benefit component of the Contract
with respect to premiums, credits, and withdrawals, except that
it applies only to investment in Excluded Funds.
TRANSFERS
---------
Transfers from Excluded Funds to non-Excluded Funds will reduce
all Death Benefit component(s) for Excluded Funds on a prorata
basis. Except with respect to any Maximum Guaranteed Death
Benefit, the resulting increase in each non-Excluded Funds Death
Benefit Base will equal the lesser of the reduction in the Death
Benefit component for Excluded Funds and the net Accumulation
Value transferred. With respect to the Maximum Guaranteed Death
Benefit, where applicable, the resulting increase in the non-
Excluded Funds Maximum Guaranteed Death Benefit Base will equal
the reduction in the Maximum Guaranteed Death Benefit for
Excluded Funds.
Transfers from non-Excluded Funds to Excluded Funds will reduce
each non-Excluded Funds Death Benefit Base on a prorata basis.
The resulting increase in the Death Benefit component(s) for
Excluded Funds will equal the reduction in non-Excluded Funds
Death Benefit Base.
Adjustments for transfers involving Excluded Funds and Special
Funds, where applicable, will be calculated separately from
adjustments for transfers involving Excluded Funds and non-
Special Funds. Special Funds, if any, are described in the
Contract.
EXCLUDED FUNDS
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Where used in this Endorsement, as of the Endorsement Date,
Excluded Funds are as listed on the Schedule. We may add newly
available divisions as Excluded Funds. We may also reclassify an
existing division as a Excluded Fund or remove such designation
upon 30 days notice to you. Such re-classification will apply to
amounts transferred or otherwise added to such division after the
date of change.
GA-RA-1073.doc
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RESTRICTED FUNDS
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Restricted Funds are subject to limits as to amount 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.
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.
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.
GA-RA-1073.doc 2
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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
--------------------
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.
Endorsement Effective Date:
Signed: /s/ Barnett Chernow
--------------------
Barnett Chernow
GA-RA-1073.doc 3
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