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EXHIBIT 1.A(1)(h)
AMENDMENT NO. 3
CUSTODIAN AGREEMENT
BETWEEN
STATE STREET BANK AND TRUST COMPANY
AND
A I M DISTRIBUTORS, INC.
The Custodian Agreement (the "Agreement"), dated May 1, 1996, as
amended effective March 1, 1999, and June 30, 2000, by and between A I M
DISTRIBUTORS, INC., a Delaware corporation with its principal office at Eleven
Xxxxxxxx Xxxxx, Xxxxx 0000, Xxxxxxx, Xxxxx and STATE STREET BANK AND TRUST
COMPANY, a Massachusetts banking corporation having an office at 000 Xxxxxxxx
Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000, is hereby amended as follows:
1. The second WHEREAS paragraph on page one of the Custodian
Agreement is hereby amended and restated to read in full as
follows:
"WHEREAS, the Sponsor is engaged in the business of
selling shares of mutual funds and similar securities
and presently wishes to continue the services of the
Custodian in connection with the administration of a
plan for the accumulation of shares of AIM Summit
Fund (the "Fund") which the Sponsor sells and
distributes for the benefit of Planholders (as
defined herein) of AIM Summit Investors Plans I (the
"Plan");"
2. Section I.A.1. of the Custodian Agreement is hereby amended
and restated to read in full as follows:
"1. Nature of the Plan. The Sponsor intends to offer
the Plan for the accumulation of shares of the Fund,
or any other shares substituted therefor, under the
terms of the Plan (all such shares being hereinafter
called the "Fund Shares" and the issuer of such
shares being hereinafter called the "Fund," unless
the context indicates otherwise). Beneficial owners
of Fund Shares under the Plan are hereinafter called
"Planholders"."
3. Section II.A.8. of the Custodian Agreement is hereby amended
and restated to read in full as follows:
"8. "Change in Denomination. The Custodian and the
Sponsor agree that a Planholder may change an
existing Plan by providing the Custodian with a
completed Plan application for a new face amount. An
increase in a Plan amount shall not create new
cancellation and refund rights that are created when
a new Plan is issued. If a Planholder increases the
face amount of a Plan, the amount paid prior to July
24, 2000 will be divided by the amount of the new
face plan monthly scheduled payment. The calculation
will result in a number of scheduled payments assumed
to have been made prior to July 24, 2000 under the
increased face plan amount. A creation and sales load
will be applied to these assumed payments and a
credit will be given for the creation and sales load
actually paid prior to the face plan change. Any
balance due will be deducted from the Planholder's
account. If the number of assumed scheduled payments
is less than 12, a creation and sales load will be
assessed on future payments so that a creation and
sales load
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is paid on 12 scheduled payments. If the number of
scheduled payments resulting from the calculation is
greater than 12, no creation and sales load will be
assessed on payments made after July 24, 2000. For a
period of twelve (12) months following a face change
increase, the Planholder may decrease the increased
Plan to a smaller plan size, but not smaller than the
original Plan prior to the increase. A Planholder may
increase the amount of his Plan at any time. A
Planholder may decrease the amount of his Plan up to
a maximum of 50% of the face amount of the Plan,
provided that such request is made prior to the date
of the Planholder's sixth payment."
4. Section III.A.4. of the Custodian Agreement is hereby amended
and restated to read in full as follows:
"4. Creation and Sales Charges and 12b-1 Payments.
The Sponsor receives a Creation and Sales Charge to
compensate it for its services and costs in creating
the Plans and arranging for their administration and
for making the Fund Shares available to Planholders
at net asset value. This charge is deducted from each
payment by a Planholder and the balance is remitted
by the Custodian to the Sponsor (the dealer
reallowance portion of such charge is remitted by the
Custodian to dealers of record applicable to such
purchase). Rule 12b-1 payments are paid by the Fund
to the Sponsor who in turn will remit to the
Custodian, as its agent, amounts due to dealers of
record. The Custodian will keep records necessary to,
and as received by it will pay such amounts to, the
appropriate dealer of record."
All other terms and provisions of the Agreement not amended herein
shall remain in full force and effect.
Date: July 24, 2000
A I M DISTRIBUTORS, INC.
Attest: /s/ P. XXXXXXXX XXXXX By: /s/ XXXXXXX X. XXXX
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Assistant Secretary President
(SEAL)
STATE STREET BANK AND TRUST
COMPANY
Attest: /s/ [ILLEGIBLE] By: /s/ XXXXXX X. XXXXX
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