EXHIBIT 3(d)
WESTERN CAPITAL SPECIALTY MANAGERS TRUST
0000 Xxxxxxx Xxxx Xxxx, Xxxxx 0000
Xxx Xxxxxxx, Xxxxxxxxxx 00000
April 13, 1989
Western Capital Variable Advisors
Corporation
0000 Xxxxxxx Xxxx Xxxx, Xxxxx 0000
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Golden American Life Insurance Company
000 Xxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: ADDENDUM TO ORGANIZATIONAL AGREEMENT
Dear Sirs:
The Organizational Agreement dated as of December 28, 1988
by and among Western Capital Specialty Managers Trust("Trust"),
Western Capital Variable Advisors Insurance Corporation ("Western
Capital"), and Golden American Life Insurance Company ("Golden
American") on its own behalf and on behalf of Western Capital
Specialty Managers Separate Accounts A and B is hereby amended by
adding thereto the following provisions:
"Western Capital agrees to waive its management fee
with respect to the Liquid Asset Series, otherwise
payable under the Management Agreement between Western
Capital and the Trustin an amount at an annual rate
equal to .20% of the average daily net assets of the
Liquid Asset Series, during the period from April 13,
1989 to December 31, 1989.
In addition, Western Capital and Golden American each
agrees to pay the Trust one half of the amount by which
the remaining expenses, other than extraordinary
expenses, incurred by the Trust on behalf of the Liquid
Asset Series between April 13, 1989 and April 13, 1990
exceed 0.8% of the Liquid Asset Series' average daily
net assets during such period. Western
Capital and Golden American each further agrees to pay
the Trust one half of the amount by which expenses,
other than extraordinary expenses, incurred by the
Trust in behalf of the Limited Maturity Bond Series
between April 13, 1989 and April 13, 1990 exceed 1.0%
of the Limited Maturity Bond Series' average daily net
assets during such period. Such payments shall be made
(1) on December 31, 1989 with respect to expenses
incurred by the Trust between April 13, 1989 and
December 31, 1989, and (2) on April 13, 1990 with
respect to expenses incurred by the Trust between
January 1, 1990 and April 13, 1990."
If you are in agreement with the foregoing, please sign the
form of acceptance on the enclosed counterpart hereof and return
the same to us.
Very truly yours,
Western Capital Specialty
Managers Trust
By: /s/ Xxxxxxx X. Xxxxxx
----------------------
President
The foregoing Addendum to the
Organizational Agreement dated
December 28, 1988 is hereby
accepted as of the date first
above written
Western Capital Variable Advisors Corporation
By: /s/ Xxxxxxx X. Xxxxxx Date: 5/31/89
------------------------ --------
President
Golden American Life Insurance Company
By: /s/ X. X. Xxxxxxxx Date: 6/7/89
------------------------ --------
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