Sub-Item 77Q1(e)
MEMORANDUM OF AGREEMENT
(EXPENSE LIMITATIONS)
This Memorandum of Agreement is entered into as of the Effective Date on the
attached exhibits (the "Exhibits"), between AIM Counselor Series Trust (Invesco
Counselor Series Trust), AIM Equity Funds (Invesco Equity Funds), AIM Funds
Group (Invesco Funds Group), AIM Growth Series (Invesco Growth Series), AIM
International Mutual Funds (Invesco International Mutual Funds), AIM Investment
Funds (Invesco Investment Funds), AIM Investment Securities Funds (Invesco
Investment Securities Funds), AIM Sector Funds (Invesco Sector Funds), AIM
Tax-Exempt Funds (Invesco Tax-Exempt Funds), AIM Variable Insurance Funds
(Invesco Variable Insurance Funds), Invesco Management Trust, Invesco
Securities Trust and Short-Term Investments Trust (each a "Trust" or,
collectively, the "Trusts"), on behalf of the funds listed on the Exhibits to
this Memorandum of Agreement (the "Funds"), and Invesco Advisers, Inc.
("Invesco"). Invesco shall and hereby agrees to waive fees or reimburse
expenses of each Fund, on behalf of its respective classes as applicable,
severally and not jointly, as indicated in the attached Exhibits.
For and in consideration of the mutual terms and agreements set forth herein
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Trusts and Invesco agree as follows:
For the Contractual Limits (listed in Exhibits A - D), Invesco agrees until
at least the expiration date set forth on the attached Exhibits A - D (the
"Expiration Date") that Invesco will waive its fees or reimburse expenses to
the extent that expenses of a class of a Fund (excluding (i) interest;
(ii) taxes; (iii) dividend expense on short sales; (iv) extraordinary or
non-routine items, including litigation expenses; and (v) expenses that each
Fund has incurred but did not actually pay because of an expense offset
arrangement, if applicable) exceed the rate, on an annualized basis, set forth
on the Exhibits of the average daily net assets allocable to such class.
Acquired fund fees and expenses are not fees or expenses incurred by a fund
directly but are expenses of the investment companies in which a fund invests.
These fees and expenses are incurred indirectly through the valuation of a
fund's investment in these investment companies. Acquired fund fees and
expenses are required to be disclosed and included in the total annual fund
operating expenses in the prospectus fee table. As a result, the net total
annual fund operating expenses shown in the prospectus fee table may exceed the
expense limits reflected in Exhibits A - D. Neither a Trust nor Invesco may
remove or amend the Contractual Limits to a Trust's detriment prior to the
Expiration Date without requesting and receiving the approval of the Board of
Trustees of the applicable Fund's Trust to remove or amend such Contractual
Limits. Invesco will not have any right to reimbursement of any amount so
waived or reimbursed.
For the Contractual Limits, Invesco agrees to review the then-current
expense limitations for each class of each Fund listed on the Exhibits on a
date prior to the Expiration Date to determine whether such limitations should
be amended, continued or terminated. The expense limitations will expire upon
the Expiration Date unless Invesco has agreed to continue them. The Exhibits
will be amended to reflect any such agreement.
For the Voluntary Limits (listed in Exhibits A - D), Invesco agrees that
these are not contractual in nature and that Invesco may establish, amend
and/or terminate such expense limitations at any time in its sole discretion.
Any delay or failure by Invesco to update this Memorandum of Agreement with
regards to the terminations, extensions, or expirations of the Voluntary Limits
shall have no effect on the term of such Voluntary Limitations; the Voluntary
Limitations are listed herein for informational purposes only.
It is expressly agreed that the obligations of each Trust hereunder shall
not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Trusts personally, but shall only bind the assets
and property of each Fund, as provided in each Trust's Agreement and
Declaration of Trust. The execution and delivery of this Memorandum of
Agreement have been authorized by the Trustees of the Trusts, and this
Memorandum of Agreement has been executed and delivered by an authorized
officer of the Trusts acting as such; neither such authorization by such
Trustees nor such execution and delivery by such officer shall be deemed to
have been made by any of them individually or to impose any liability on any of
them personally, but shall bind only the assets and property of the Funds, as
provided in each Trust's Agreement and Declaration of Trust.
IN WITNESS WHEREOF, each of the Trusts and Invesco have entered into this
Memorandum of Agreement as of the Effective Dates on the attached Exhibits.
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
INVESCO MANAGEMENT TRUST
INVESCO SECURITIES TRUST
SHORT-TERM INVESTMENTS TRUST
on behalf of the Funds listed in the Exhibits
to this Memorandum of Agreement
By: /s/ Xxxx X. Xxxx
--------------------------
Title: Senior Vice President
INVESCO ADVISERS, INC.
By: /s/ Xxxx X. Xxxx
--------------------------
Title: Senior Vice President
2
EXHIBIT "A" - RETAIL FUNDS/1/
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco American Franchise Fund
Class A Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2013 June 30, 0000
Xxxxxxx Xxxxxxxxxx Tax-Free Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Core Plus Bond Fund
Class A Shares Contractual 0.75% December 16, 2016 December 31, 2017
Class B Shares Contractual 1.50% December 16, 2016 December 31, 2017
Class C Shares Contractual 1.50% December 16, 2016 December 31, 2017
Class R Shares Contractual 1.00% December 16, 2016 December 31, 2017
Class R5 Shares Contractual 0.50% December 16, 2016 December 31, 2017
Class R6 Shares Contractual 0.50% December 16, 2016 December 31, 2017
Class Y Shares Contractual 0.50% December 16, 2016 December 31, 2017
Invesco Equally-Weighted S&P 500 Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Equity and Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Floating Rate Fund
Class A Shares Contractual 1.50% April 14, 2006 June 30, 2017
Class C Shares Contractual 2.00% April 14, 2006 June 30, 2017
Class R Shares Contractual 1.75% April 14, 2006 June 30, 2017
Class R5 Shares Contractual 1.25% April 14, 2006 June 30, 2017
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.25% October 3, 2008 June 30, 2017
Invesco Global Real Estate Income Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
See page 17 for footnotes to Exhibit A.
3
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ------------------ -----------------
Invesco Growth and Income Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Low Volatility Equity Yield Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 0000
Xxxxxxx Xxxxxxxxxxxx Tax Free Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco S&P 500 Index Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Short Duration High Yield Municipal Fund
Class A Shares Contractual 0.79% September 30, 2015 December 31, 2017
Class C Shares Contractual 1.54% September 30, 2015 December 31, 2017
Class R5 Shares Contractual 0.54% September 30, 2015 December 31, 2017
Class Y Shares Contractual 0.54% September 30, 2015 December 31, 2017
Invesco Small Cap Discovery Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Strategic Real Return Fund
Class A Shares Contractual 0.82% less net AFFE* April 30, 2014 December 31, 2017
Class C Shares Contractual 1.57% less net AFFE* April 30, 2014 December 31, 2017
Class R Shares Contractual 1.07% less net AFFE* April 30, 2014 December 31, 2017
Class R5 Shares Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017
Class R6 Shares Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017
Class Y Shares Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017
See page 17 for footnotes to Exhibit A.
4
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Charter Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class S Shares Contractual 1.90% September 25, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Invesco Diversified Dividend Fund
Class A Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2013 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2013 June 30, 0000
Xxxxxxx Xxxxxx Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class P Shares Contractual 1.85% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class S Shares Contractual 1.90% September 25, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco European Small Company Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Global Core Equity Fund
Class A Shares Contractual 1.22% January 1, 2017 April 30, 2018
Class B Shares Contractual 1.97% January 1, 2017 April 30, 2018
Class C Shares Contractual 1.97% January 1, 2017 April 30, 2018
Class R Shares Contractual 1.47% January 1, 2017 April 30, 2018
Class R5 Shares Contractual 0.97% January 1, 2017 April 30, 2018
Class Y Shares Contractual 0.97% January 1, 2017 April 30, 2018
Invesco International Small Company Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 2.00% September 24, 2012 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
See page 17 for footnotes to Exhibit A.
5
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Small Cap Equity Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ------------------ --------------
Invesco Alternative Strategies Fund
Class A Shares Contractual 1.44% less net AFFE* January 1, 2017 April 30, 2018
Class C Shares Contractual 2.19% less net AFFE* January 1, 2017 April 30, 2018
Class R Shares Contractual 1.69% less net AFFE* January 1, 2017 April 30, 2018
Class R5 Shares Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Class R6 Shares Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Class Y Shares Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Invesco Balanced-Risk Retirement 2020 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
Invesco Balanced-Risk Retirement 2030 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
Invesco Balanced-Risk Retirement 2040 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
See page 17 for footnotes to Exhibit A.
6
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco Balanced-Risk Retirement 2050 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
Invesco Balanced-Risk Retirement Now Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
Invesco Conservative Allocation Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class S Shares Contractual 1.40% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Convertible Securities Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Global Low Volatility Equity Yield Fund
Class A Shares Contractual 2.00% May 1, 2016 June 30, 2017
Class B Shares Contractual 2.75% May 1, 2016 June 30, 2017
Class C Shares Contractual 2.75% May 1, 2016 June 30, 2017
Class R Shares Contractual 2.25% May 1, 2016 June 30, 2017
Class R5 Shares Contractual 1.75% May 1, 2016 June 30, 2017
Class Y Shares Contractual 1.75% May 1, 2016 June 30, 2017
Invesco Growth Allocation Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class S Shares Contractual 1.90% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
See page 17 for footnotes to Exhibit A.
7
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ------------------ --------------
Invesco Income Allocation Fund
Class A Shares Contractual 0.25% May 1, 2012 April 30, 2018
Class B Shares Contractual 1.00% May 1, 2012 April 30, 2018
Class C Shares Contractual 1.00% May 1, 2012 April 30, 2018
Class R Shares Contractual 0.50% May 1, 2012 April 30, 2018
Class R5 Shares Contractual 0.00% May 1, 2012 April 30, 2018
Class Y Shares Contractual 0.00% May 1, 2012 April 30, 2018
Invesco International Allocation Fund
Class A Shares Contractual 2.25% May 1, 2012 June 30, 2017
Class B Shares Contractual 3.00% May 1, 2012 June 30, 2017
Class C Shares Contractual 3.00% May 1, 2012 June 30, 2017
Class R Shares Contractual 2.50% May 1, 2012 June 30, 2017
Class R5 Shares Contractual 2.00% May 1, 2012 June 30, 2017
Class Y Shares Contractual 2.00% May 1, 2012 June 30, 2017
Invesco Mid Cap Core Equity Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Invesco Moderate Allocation Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class S Shares Contractual 1.40% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Multi-Asset Inflation Fund
Class A Shares Contractual 1.02% less net AFFE* January 1, 2017 April 30, 2018
Class C Shares Contractual 1.77% less net AFFE* January 1, 2017 April 30, 2018
Class R Shares Contractual 1.27% less net AFFE* January 1, 2017 April 30, 2018
Class R5 Shares Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018
Class R6 Shares Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018
Class Y Shares Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018
Invesco Quality Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Small Cap Growth Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2017
See page 17 for footnotes to Exhibit A.
8
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Asia Pacific Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco European Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.50% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Investor Class Shares Contractual 2.25% July 1, 2009 June 30, 2017
Invesco Global Growth Fund
Class A Shares Contractual 1.22% January 1, 2017 February 28, 2018
Class B Shares Contractual 1.97% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.97% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.97% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.97% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.97% January 1, 2017 February 28, 2018
Invesco Global Opportunities Fund
Class A Shares Contractual 1.02% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.77% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.27% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.77% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.77% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.77% January 1, 2017 February 28, 2018
Invesco Global Small & Mid Cap Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Global Responsibility Equity Fund
Class A Shares Contractual 0.85% June 30, 2016 February 28, 2018
Class C Shares Contractual 1.60% June 30, 2016 February 28, 2018
Class R Shares Contractual 1.10% June 30, 2016 February 28, 2018
Class R5 Shares Contractual 0.60% June 30, 2016 February 28, 2018
Class R6 Shares Contractual 0.60% June 30, 2016 February 28, 2018
Class Y Shares Contractual 0.60% June 30, 2016 February 28, 2018
Invesco International Companies Fund
Class A Shares Contractual 1.12% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.87% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.37% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.87% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.87% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.87% January 1, 2017 February 28, 2018
See page 17 for footnotes to Exhibit A.
9
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco International Core Equity Fund
Class A Shares Contractual 1.12% January 1, 2017 February 28, 2018
Class B Shares Contractual 1.87% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.87% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.37% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.87% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.87% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.87% January 1, 2017 February 28, 2018
Investor Class Shares Contractual 1.12% January 1, 2017 February 28, 2018
Invesco International Growth Fund
Class A Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2013 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2013 June 30, 2017
Class R Shares Contractual 2.50% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2013 June 30, 2017
Invesco Select Opportunities Fund
Class A Shares Contractual 1.02% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.77% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.27% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.77% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.77% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.77% January 1, 2017 February 28, 2018
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco All Cap Market Neutral Fund
Class A Shares Contractual 1.50% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.25% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.75% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.25% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.25% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.25% January 1, 2017 February 28, 2018
Invesco Balanced-Risk Allocation Fund/2/
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Balanced-Risk Commodity Strategy Fund/3/
Class A Shares Contractual 2.00% July 1, 2014 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2014 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2014 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2014 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2014 June 30, 2017
Class R6 Shares Contractual 1.75% July 1, 2014 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2014 June 30, 2017
See page 17 for footnotes to Exhibit A.
10
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco Developing Markets Fund
Class A Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2012 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 2.00% September 24, 2012 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Emerging Markets Equity Fund
Class A Shares Contractual 1.33% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.08% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.58% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.08% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.08% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.08% January 1, 2017 February 28, 2018
Invesco Emerging Markets Flexible Bond Fund
Class A Shares Contractual 1.24% June 14, 2010 February 28, 2018
Class B Shares Contractual 1.99% June 14, 2010 February 28, 2018
Class C Shares Contractual 1.99% June 14, 2010 February 28, 2018
Class R Shares Contractual 1.49% June 14, 2010 February 28, 2018
Class Y Shares Contractual 0.99% June 14, 2010 February 28, 2018
Class R5 Shares Contractual 0.99% June 14, 2010 February 28, 2018
Class R6 Shares Contractual 0.99% September 24, 2012 February 28, 2018
Invesco Endeavor Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Invesco Global Health Care Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Global Infrastructure Fund
Class A Shares Contractual 1.28% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.03% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.53% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.03% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.03% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.03% January 1, 2017 February 28, 2018
Invesco Global Market Neutral Fund
Class A Shares Contractual 1.50% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.25% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.75% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.25% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.25% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.25% January 1, 2017 February 28, 2018
See page 17 for footnotes to Exhibit A.
11
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ----------------- -----------------
Invesco Global Targeted Returns Fund4
Class A Shares Contractual 1.44% less net AFFE* January 1, 2017 February 28, 2018
Class C Shares Contractual 2.19% less net AFFE* January 1, 2017 February 28, 2018
Class R Shares Contractual 1.69% less net AFFE* January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Invesco Greater China Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Long/Short Equity Fund
Class A Shares Contractual 1.59% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.34% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.84% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.34% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.34% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.34% January 1, 2017 February 28, 2018
Invesco Low Volatility Emerging Markets Fund
Class A Shares Contractual 1.33% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.08% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.58% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.08% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.08% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.08% January 1, 2017 February 28, 2018
Invesco MLP Fund
Class A Shares Contractual 1.28% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.03% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.53% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.03% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.03% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.03% January 1, 2017 February 28, 2018
Invesco Macro Allocation Strategy Fund/5/
Class A Shares Contractual 1.44% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.19% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.69% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.19% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.19% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.19% January 1, 2017 February 28, 2018
Invesco Macro International Equity Fund
Class A Shares Contractual 1.43% December 17, 2013 February 28, 2018
Class C Shares Contractual 2.18% December 17, 2013 February 28, 2018
Class R Shares Contractual 1.68% December 17, 2013 February 28, 2018
Class R5 Shares Contractual 1.18% December 17, 2013 February 28, 2018
Class R6 Shares Contractual 1.18% December 17, 2013 February 28, 2018
Class Y Shares Contractual 1.18% December 17, 2013 February 28, 2018
See page 17 for footnotes to Exhibit A.
12
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Macro Long/Short Fund
Class A Shares Contractual 1.87% December 17, 2013 February 28, 2018
Class C Shares Contractual 2.62% December 17, 2013 February 28, 2018
Class R Shares Contractual 2.12% December 17, 2013 February 28, 2018
Class R5 Shares Contractual 1.62% December 17, 2013 February 28, 2018
Class R6 Shares Contractual 1.62% December 17, 2013 February 28, 2018
Class Y Shares Contractual 1.62% December 17, 2013 February 28, 2018
Invesco Multi-Asset Income Fund
Class A Shares Contractual 0.85% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.60% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.10% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.60% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.60% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.60% January 1, 2017 February 28, 2018
Invesco Pacific Growth Fund
Class A Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2012 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.50% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Select Companies Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Invesco World Bond Fund
Class A Shares Contractual 0.94% December 1, 2016 February 28, 2018
Class B Shares Contractual 1.69% December 1, 2016 February 28, 2018
Class C Shares Contractual 1.69% December 1, 2016 February 28, 2018
Class R5 Shares Contractual 0.69% December 1, 2016 February 28, 2018
Class R6 Shares Contractual 0.69% December 1, 2016 February 28, 2018
Class Y Shares Contractual 0.69% December 1, 2016 February 28, 2018
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Corporate Bond Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Global Real Estate Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
See page 17 for footnotes to Exhibit A.
13
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco High Yield Fund
Class A Shares Contractual 1.50% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.25% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2013 June 30, 2017
Investor Class Shares Contractual 1.50% July 1, 2013 June 30, 2017
Invesco Short Duration Inflation Protected Fund
Class A Shares Contractual 0.55% December 31, 2015 June 30, 2017
Class A2 Shares Contractual 0.45% December 31, 2015 June 30, 2017
Class R5 Shares Contractual 0.30% December 31, 2015 June 30, 2017
Class R6 Shares Contractual 0.30% December 31, 2015 June 30, 2017
Class Y Shares Contractual 0.30% December 31, 2015 June 30, 2017
Invesco Real Estate Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Short Term Bond Fund
Class A Shares Contractual 1.40% July 1, 2013 June 30, 2017
Class C Shares Contractual 1.75%/6/ July 1, 2013 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.25% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2013 June 30, 0000
Xxxxxxx X.X. Government Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 1.50% July 1, 2012 June 30, 2017
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco American Value Fund
Class A Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2013 June 30, 2017
See page 17 for footnotes to Exhibit A.
14
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Xxxxxxxx Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Energy Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Dividend Income Fund
Class A Shares Contractual 2.00% September 1, 2016 June 30, 2017
Class B Shares Contractual 2.75% September 1, 2016 June 30, 2017
Class C Shares Contractual 2.75% September 1, 2016 June 30, 2017
Class R5 Shares Contractual 1.75% September 1, 2016 June 30, 2017
Class R6 Shares Contractual 1.75% September 1, 2016 June 30, 2017
Class Y Shares Contractual 1.75% September 1, 2016 June 30, 2017
Investor Class Shares Contractual 2.00% September 1, 2016 June 30, 2017
Invesco Gold & Precious Metals Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Mid Cap Growth Fund
Class A Shares Contractual 2.00% August 1, 2015 June 30, 2017
Class B Shares Contractual 2.75% August 1, 2015 June 30, 2017
Class C Shares Contractual 2.75% August 1, 2015 June 30, 2017
Class R Shares Contractual 2.25% August 1, 2015 June 30, 2017
Class R5 Shares Contractual 1.75% August 1, 2015 June 30, 2017
Class R6 Shares Contractual 1.75% August 1, 2015 June 30, 2017
Class Y Shares Contractual 1.75% August 1, 2015 June 30, 2017
Invesco Small Cap Value Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% February 7, 2017 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Technology Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Technology Sector Fund
Class A Shares Contractual 2.00% February 12, 2010 June 30, 2017
Class B Shares Contractual 2.75% February 12, 2010 June 30, 2017
Class C Shares Contractual 2.75% February 12, 2010 June 30, 2017
Class Y Shares Contractual 1.75% February 12, 2010 June 30, 2017
See page 17 for footnotes to Exhibit A.
15
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco Value Opportunities Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco High Yield Municipal Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Intermediate Term Municipal Income Fund
Class A Shares Contractual 0.84% July 1, 2016 June 30, 2017
Class B Shares Contractual 1.59% July 1, 2016 June 30, 2017
Class C Shares Contractual 1.59% July 1, 2016 June 30, 2017
Class Y Shares Contractual 0.59% July 1, 2016 June 30, 2017
Invesco Municipal Income Fund
Class A Shares Contractual 1.50% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2013 June 30, 2017
Investor Class Contractual 1.50% July 15, 2013 June 30, 2017
Invesco New York Tax Free Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Limited Term Municipal Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class A2 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% June 30, 2013 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
See page 17 for footnotes to Exhibit A.
16
INVESCO MANAGEMENT TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Conservative Income Fund
Institutional Class Contractual 0.28% July 1, 2014 December 31, 2017
INVESCO SECURITIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Balanced-Risk Aggressive Allocation Fund Contractual 0.94% January 1, 2017 February 28, 2018
* ACQUIRED FUND FEES AND EXPENSES ("AFFE") WILL BE CALCULATED AS OF THE
FUND'S FISCAL YEAR END ACCORDING TO INSTRUCTION 3(F) OF ITEM 3 OF FORM
N-1A. "NET AFFE" WILL BE CALCULATED BY SUBTRACTING ANY WAIVERS BY INVESCO
ASSOCIATED WITH INVESTMENTS IN AFFILIATED FUNDS, SUCH AS INVESTMENTS IN
AFFILIATED MONEY MARKET FUNDS, FROM THE AFFE CALCULATED IN ACCORDANCE WITH
THE PRECEDING SENTENCE. FOR CLARITY, THE NET AFFE CALCULATED AS OF THE
FUND'S FISCAL YEAR END WILL BE USED THROUGHOUT THE WAIVER PERIOD IN
ESTABLISHING THE FUND'S WAIVER AMOUNT, REGARDLESS OF WHETHER ACTUAL AFFE
IS MORE OR LESS DURING THE WAIVER PERIOD.
/1/ The total operating expenses of any class of shares established after the
date of this Memorandum of Agreement will be limited to the amount
established for Class A Shares plus the difference between the new class
12b-1 rate and the Class A 12b-1 rate.
/2/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund I, Ltd.
/3/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund III, Ltd.
/4/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund VII, Ltd.
/5/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund V, Ltd.
/6/ The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by Invesco Distributors, Inc.
17
EXHIBIT "B" - INSTITUTIONAL MONEY MARKET FUNDS/1,2/
SHORT-TERM INVESTMENTS TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Government & Agency Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.34% June 1, 2016 December 31, 2017
Liquid Assets Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.38% June 1, 2016 December 31, 2017
STIC Prime Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.34% June 1, 2016 December 31, 2017
Tax-Free Cash Reserve Portfolio/2/
Cash Management Class Contractual 0.28% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.23% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.20% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.75% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.45% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.07% June 1, 2016 December 31, 2017
Resource Class Contractual 0.36% June 1, 2016 December 31, 2017
Treasury Obligations Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.43% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.34% June 1, 2016 December 31, 2017
Treasury Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.34% June 1, 2016 December 31, 2017
/1/ The expense rate excluding 12b-1 fees of any class of shares established
after the date of this Memorandum of Agreement will be the same as
existing classes.
/2/ The expense limitation also excludes Trustees' fees and federal
registration expenses.
18
EXHIBIT "C" - VARIABLE INSURANCE FUNDS
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ----------------- --------------
Invesco V.I. American Franchise Fund
Series I Shares Contractual 2.00% July 1, 2014 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2014 June 30, 2017
Invesco V.I. American Value Fund
Series I Shares Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2017
Invesco V.I. Balanced-Risk Allocation Fund/1/
Series I Shares Contractual 0.80% less net AFFE* May 1, 2014 April 30, 2018
Series II Shares Contractual 1.05% less net AFFE* May 1, 2014 April 30, 2018
Invesco V.I. Xxxxxxxx Fund
Series I Shares Contractual 0.78% May 1, 2013 April 30, 2018
Series II Shares Contractual 1.03% May 1, 2013 April 30, 2018
Invesco V.I. Core Equity Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Core Plus Bond Fund
Series I Shares Contractual 0.61% April 30, 2015 April 30, 2018
Series II Shares Contractual 0.86% April 30, 2015 April 30, 2018
Invesco V.I. Diversified Dividend Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Equally-Weighted S&P 500 Fund
Series I Shares Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2017
Invesco V.I. Equity and Income Fund
Series I Shares Contractual 1.50% July 1, 2012 June 30, 2017
Series II Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco V.I. Global Core Equity Fund
Series I Shares Contractual 2.25% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.50% July 1, 2012 June 30, 2017
Invesco V.I. Global Health Care Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Global Real Estate Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
/1/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund IV, Ltd.
19
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- --------------
Invesco V.I. Government Money Market Fund
Series I Shares Contractual 1.50% May 1, 2013 June 30, 2017
Series II Shares Contractual 1.75% May 1, 2013 June 30, 2017
Invesco V.I. Government Securities Fund
Series I Shares Contractual 1.50% May 1, 2013 June 30, 2017
Series II Shares Contractual 1.75% May 1, 2013 June 30, 2017
Invesco V.I. Growth and Income Fund
Series I Shares Contractual 0.78% May 1, 2013 April 30, 2018
Series II Shares Contractual 1.03% May 1, 2013 April 30, 2018
Invesco V.I. High Yield Fund
Series I Shares Contractual 1.50% May 1, 2014 June 30, 2017
Series II Shares Contractual 1.75% May 1, 2014 June 30, 2017
Invesco V.I. International Growth Fund
Series I Shares Contractual 2.25% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.50% July 1, 2012 June 30, 2017
Invesco V.I. Managed Volatility Fund
Series I Shares Contractual 2.00% May 1, 2015 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2015 June 30, 2017
Invesco V.I. Mid Cap Core Equity Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Mid Cap Growth Fund
Series I Shares Contractual 2.00% July 1, 2014 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2014 June 30, 2017
Invesco V.I. S&P 500 Index Fund
Series I Shares Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2017
Invesco V.I. Small Cap Equity Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Technology Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Value Opportunities Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
* ACQUIRED FUND FEES AND EXPENSES ("AFFE") WILL BE CALCULATED AS OF THE FUND'S
FISCAL YEAR END ACCORDING TO INSTRUCTION 3(F) OF ITEM 3 OF FORM N-1A. "NET
AFFE" WILL BE CALCULATED BY SUBTRACTING ANY WAIVERS BY INVESCO ASSOCIATED
WITH INVESTMENTS IN AFFILIATED FUNDS, SUCH AS INVESTMENTS IN AFFILIATED
MONEY MARKET FUNDS, FROM THE AFFE CALCULATED IN ACCORDANCE WITH THE
PRECEDING SENTENCE. FOR CLARITY, THE NET AFFE CALCULATED AS OF THE FUND'S
FISCAL YEAR END WILL BE USED THROUGHOUT THE WAIVER PERIOD IN ESTABLISHING
THE FUND'S WAIVER AMOUNT, REGARDLESS OF WHETHER ACTUAL AFFE IS MORE OR LESS
DURING THE WAIVER PERIOD.
20
Sub-Item 77Q1(e)
MEMORANDUM OF AGREEMENT
(EXPENSE LIMITATIONS)
This Memorandum of Agreement is entered into as of the Effective Date on the
attached exhibits (the "Exhibits"), between AIM Counselor Series Trust (Invesco
Counselor Series Trust), AIM Equity Funds (Invesco Equity Funds), AIM Funds
Group (Invesco Funds Group), AIM Growth Series (Invesco Growth Series), AIM
International Mutual Funds (Invesco International Mutual Funds), AIM Investment
Funds (Invesco Investment Funds), AIM Investment Securities Funds (Invesco
Investment Securities Funds), AIM Sector Funds (Invesco Sector Funds), AIM
Tax-Exempt Funds (Invesco Tax-Exempt Funds), AIM Variable Insurance Funds
(Invesco Variable Insurance Funds), Invesco Management Trust, Invesco
Securities Trust and Short-Term Investments Trust (each a "Trust" or,
collectively, the "Trusts"), on behalf of the funds listed on the Exhibits to
this Memorandum of Agreement (the "Funds"), and Invesco Advisers, Inc.
("Invesco"). Invesco shall and hereby agrees to waive fees or reimburse
expenses of each Fund, on behalf of its respective classes as applicable,
severally and not jointly, as indicated in the attached Exhibits.
For and in consideration of the mutual terms and agreements set forth herein
and other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Trusts and Invesco agree as follows:
For the Contractual Limits (listed in Exhibits A - D), Invesco agrees until
at least the expiration date set forth on the attached Exhibits A - D (the
"Expiration Date") that Invesco will waive its fees or reimburse expenses to
the extent that expenses of a class of a Fund (excluding (i) interest;
(ii) taxes; (iii) dividend expense on short sales; (iv) extraordinary or
non-routine items, including litigation expenses; and (v) expenses that each
Fund has incurred but did not actually pay because of an expense offset
arrangement, if applicable) exceed the rate, on an annualized basis, set forth
on the Exhibits of the average daily net assets allocable to such class.
Acquired fund fees and expenses are not fees or expenses incurred by a fund
directly but are expenses of the investment companies in which a fund invests.
These fees and expenses are incurred indirectly through the valuation of a
fund's investment in these investment companies. Acquired fund fees and
expenses are required to be disclosed and included in the total annual fund
operating expenses in the prospectus fee table. As a result, the net total
annual fund operating expenses shown in the prospectus fee table may exceed the
expense limits reflected in Exhibits A - D. Neither a Trust nor Invesco may
remove or amend the Contractual Limits to a Trust's detriment prior to the
Expiration Date without requesting and receiving the approval of the Board of
Trustees of the applicable Fund's Trust to remove or amend such Contractual
Limits. Invesco will not have any right to reimbursement of any amount so
waived or reimbursed.
For the Contractual Limits, Invesco agrees to review the then-current
expense limitations for each class of each Fund listed on the Exhibits on a
date prior to the Expiration Date to determine whether such limitations should
be amended, continued or terminated. The expense limitations will expire upon
the Expiration Date unless Invesco has agreed to continue them. The Exhibits
will be amended to reflect any such agreement.
For the Voluntary Limits (listed in Exhibits A - D), Invesco agrees that
these are not contractual in nature and that Invesco may establish, amend
and/or terminate such expense limitations at any time in its sole discretion.
Any delay or failure by Invesco to update this Memorandum of Agreement with
regards to the terminations, extensions, or expirations of the Voluntary Limits
shall have no effect on the term of such Voluntary Limitations; the Voluntary
Limitations are listed herein for informational purposes only.
It is expressly agreed that the obligations of each Trust hereunder shall
not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Trusts personally, but shall only bind the assets
and property of each Fund, as provided in each Trust's Agreement and
Declaration of Trust. The execution and delivery of this Memorandum of
Agreement have been authorized by the Trustees of the Trusts, and this
Memorandum of Agreement has been executed and delivered by an authorized
officer of the Trusts acting as such; neither such authorization by such
Trustees nor such execution and delivery by such officer shall be deemed to
have been made by any of them individually or to impose any liability on any of
them personally, but shall bind only the assets and property of the Funds, as
provided in each Trust's Agreement and Declaration of Trust.
IN WITNESS WHEREOF, each of the Trusts and Invesco have entered into this
Memorandum of Agreement as of the Effective Dates on the attached Exhibits.
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
INVESCO MANAGEMENT TRUST
INVESCO SECURITIES TRUST
SHORT-TERM INVESTMENTS TRUST
on behalf of the Funds listed in the Exhibits
to this Memorandum of Agreement
By: /s/ Xxxx X. Xxxx
--------------------------
Title: Senior Vice President
INVESCO ADVISERS, INC.
By: /s/ Xxxx X. Xxxx
--------------------------
Title: Senior Vice President
2
EXHIBIT "A" - RETAIL FUNDS/1/
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco American Franchise Fund
Class A Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2013 June 30, 0000
Xxxxxxx Xxxxxxxxxx Tax-Free Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Core Plus Bond Fund
Class A Shares Contractual 0.75% December 16, 2016 December 31, 2017
Class B Shares Contractual 1.50% December 16, 2016 December 31, 2017
Class C Shares Contractual 1.50% December 16, 2016 December 31, 2017
Class R Shares Contractual 1.00% December 16, 2016 December 31, 2017
Class R5 Shares Contractual 0.50% December 16, 2016 December 31, 2017
Class R6 Shares Contractual 0.50% December 16, 2016 December 31, 2017
Class Y Shares Contractual 0.50% December 16, 2016 December 31, 2017
Invesco Equally-Weighted S&P 500 Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Equity and Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Floating Rate Fund
Class A Shares Contractual 1.50% April 14, 2006 June 30, 2017
Class C Shares Contractual 2.00% April 14, 2006 June 30, 2017
Class R Shares Contractual 1.75% April 14, 2006 June 30, 2017
Class R5 Shares Contractual 1.25% April 14, 2006 June 30, 2017
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.25% October 3, 2008 June 30, 2017
Invesco Global Real Estate Income Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
See page 17 for footnotes to Exhibit A.
3
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ------------------ -----------------
Invesco Growth and Income Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Low Volatility Equity Yield Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 0000
Xxxxxxx Xxxxxxxxxxxx Tax Free Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco S&P 500 Index Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Short Duration High Yield Municipal Fund
Class A Shares Contractual 0.79% September 30, 2015 December 31, 2017
Class C Shares Contractual 1.54% September 30, 2015 December 31, 2017
Class R5 Shares Contractual 0.54% September 30, 2015 December 31, 2017
Class Y Shares Contractual 0.54% September 30, 2015 December 31, 2017
Invesco Small Cap Discovery Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Strategic Real Return Fund
Class A Shares Contractual 0.82% less net AFFE* April 30, 2014 December 31, 2017
Class C Shares Contractual 1.57% less net AFFE* April 30, 2014 December 31, 2017
Class R Shares Contractual 1.07% less net AFFE* April 30, 2014 December 31, 2017
Class R5 Shares Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017
Class R6 Shares Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017
Class Y Shares Contractual 0.57% less net AFFE* April 30, 2014 December 31, 2017
See page 17 for footnotes to Exhibit A.
4
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Charter Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class S Shares Contractual 1.90% September 25, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Invesco Diversified Dividend Fund
Class A Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2013 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2013 June 30, 0000
Xxxxxxx Xxxxxx Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class P Shares Contractual 1.85% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class S Shares Contractual 1.90% September 25, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco European Small Company Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Global Core Equity Fund
Class A Shares Contractual 1.22% January 1, 2017 April 30, 2018
Class B Shares Contractual 1.97% January 1, 2017 April 30, 2018
Class C Shares Contractual 1.97% January 1, 2017 April 30, 2018
Class R Shares Contractual 1.47% January 1, 2017 April 30, 2018
Class R5 Shares Contractual 0.97% January 1, 2017 April 30, 2018
Class Y Shares Contractual 0.97% January 1, 2017 April 30, 2018
Invesco International Small Company Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 2.00% September 24, 2012 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
See page 17 for footnotes to Exhibit A.
5
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Small Cap Equity Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ------------------ --------------
Invesco Alternative Strategies Fund
Class A Shares Contractual 1.44% less net AFFE* January 1, 2017 April 30, 2018
Class C Shares Contractual 2.19% less net AFFE* January 1, 2017 April 30, 2018
Class R Shares Contractual 1.69% less net AFFE* January 1, 2017 April 30, 2018
Class R5 Shares Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Class R6 Shares Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Class Y Shares Contractual 1.19% less net AFFE* January 1, 2017 April 30, 2018
Invesco Balanced-Risk Retirement 2020 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
Invesco Balanced-Risk Retirement 2030 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
Invesco Balanced-Risk Retirement 2040 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
See page 17 for footnotes to Exhibit A.
6
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco Balanced-Risk Retirement 2050 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
Invesco Balanced-Risk Retirement Now Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2018
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2018
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2018
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2018
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2018
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2018
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2018
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2018
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2018
Invesco Conservative Allocation Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class S Shares Contractual 1.40% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Convertible Securities Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Global Low Volatility Equity Yield Fund
Class A Shares Contractual 2.00% May 1, 2016 June 30, 2017
Class B Shares Contractual 2.75% May 1, 2016 June 30, 2017
Class C Shares Contractual 2.75% May 1, 2016 June 30, 2017
Class R Shares Contractual 2.25% May 1, 2016 June 30, 2017
Class R5 Shares Contractual 1.75% May 1, 2016 June 30, 2017
Class Y Shares Contractual 1.75% May 1, 2016 June 30, 2017
Invesco Growth Allocation Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class S Shares Contractual 1.90% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
See page 17 for footnotes to Exhibit A.
7
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ------------------ --------------
Invesco Income Allocation Fund
Class A Shares Contractual 0.25% May 1, 2012 April 30, 2018
Class B Shares Contractual 1.00% May 1, 2012 April 30, 2018
Class C Shares Contractual 1.00% May 1, 2012 April 30, 2018
Class R Shares Contractual 0.50% May 1, 2012 April 30, 2018
Class R5 Shares Contractual 0.00% May 1, 2012 April 30, 2018
Class Y Shares Contractual 0.00% May 1, 2012 April 30, 2018
Invesco International Allocation Fund
Class A Shares Contractual 2.25% May 1, 2012 June 30, 2017
Class B Shares Contractual 3.00% May 1, 2012 June 30, 2017
Class C Shares Contractual 3.00% May 1, 2012 June 30, 2017
Class R Shares Contractual 2.50% May 1, 2012 June 30, 2017
Class R5 Shares Contractual 2.00% May 1, 2012 June 30, 2017
Class Y Shares Contractual 2.00% May 1, 2012 June 30, 2017
Invesco Mid Cap Core Equity Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Invesco Moderate Allocation Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class S Shares Contractual 1.40% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Multi-Asset Inflation Fund
Class A Shares Contractual 1.02% less net AFFE* January 1, 2017 April 30, 2018
Class C Shares Contractual 1.77% less net AFFE* January 1, 2017 April 30, 2018
Class R Shares Contractual 1.27% less net AFFE* January 1, 2017 April 30, 2018
Class R5 Shares Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018
Class R6 Shares Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018
Class Y Shares Contractual 0.77% less net AFFE* January 1, 2017 April 30, 2018
Invesco Quality Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Small Cap Growth Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2017
See page 17 for footnotes to Exhibit A.
8
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Asia Pacific Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco European Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.50% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Investor Class Shares Contractual 2.25% July 1, 2009 June 30, 2017
Invesco Global Growth Fund
Class A Shares Contractual 1.22% January 1, 2017 February 28, 2018
Class B Shares Contractual 1.97% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.97% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.97% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.97% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.97% January 1, 2017 February 28, 2018
Invesco Global Opportunities Fund
Class A Shares Contractual 1.02% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.77% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.27% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.77% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.77% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.77% January 1, 2017 February 28, 2018
Invesco Global Small & Mid Cap Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Global Responsibility Equity Fund
Class A Shares Contractual 0.85% June 30, 2016 February 28, 2018
Class C Shares Contractual 1.60% June 30, 2016 February 28, 2018
Class R Shares Contractual 1.10% June 30, 2016 February 28, 2018
Class R5 Shares Contractual 0.60% June 30, 2016 February 28, 2018
Class R6 Shares Contractual 0.60% June 30, 2016 February 28, 2018
Class Y Shares Contractual 0.60% June 30, 2016 February 28, 2018
Invesco International Companies Fund
Class A Shares Contractual 1.12% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.87% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.37% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.87% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.87% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.87% January 1, 2017 February 28, 2018
See page 17 for footnotes to Exhibit A.
9
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco International Core Equity Fund
Class A Shares Contractual 1.12% January 1, 2017 February 28, 2018
Class B Shares Contractual 1.87% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.87% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.37% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.87% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.87% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.87% January 1, 2017 February 28, 2018
Investor Class Shares Contractual 1.12% January 1, 2017 February 28, 2018
Invesco International Growth Fund
Class A Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2013 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2013 June 30, 2017
Class R Shares Contractual 2.50% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2013 June 30, 2017
Invesco Select Opportunities Fund
Class A Shares Contractual 1.02% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.77% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.27% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.77% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.77% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.77% January 1, 2017 February 28, 2018
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco All Cap Market Neutral Fund
Class A Shares Contractual 1.50% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.25% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.75% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.25% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.25% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.25% January 1, 2017 February 28, 2018
Invesco Balanced-Risk Allocation Fund/2/
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Balanced-Risk Commodity Strategy Fund/3/
Class A Shares Contractual 2.00% July 1, 2014 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2014 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2014 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2014 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2014 June 30, 2017
Class R6 Shares Contractual 1.75% July 1, 2014 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2014 June 30, 2017
See page 17 for footnotes to Exhibit A.
10
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco Developing Markets Fund
Class A Shares Contractual 2.25% July 1, 2012 June 30. 2017
Class B Shares Contractual 3.00% July 1, 2012 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 2.00% September 24, 2012 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Emerging Markets Equity Fund
Class A Shares Contractual 1.33% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.08% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.58% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.08% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.08% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.08% January 1, 2017 February 28, 2018
Invesco Emerging Markets Flexible Bond Fund
Class A Shares Contractual 1.24% June 14, 2010 February 28, 2018
Class B Shares Contractual 1.99% June 14, 2010 February 28, 2018
Class C Shares Contractual 1.99% June 14, 2010 February 28, 2018
Class R Shares Contractual 1.49% June 14, 2010 February 28, 2018
Class Y Shares Contractual 0.99% June 14, 2010 February 28, 2018
Class R5 Shares Contractual 0.99% June 14, 2010 February 28, 2018
Class R6 Shares Contractual 0.99% September 24, 2012 February 28, 2018
Invesco Endeavor Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30. 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Invesco Global Health Care Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30. 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Global Infrastructure Fund
Class A Shares Contractual 1.28% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.03% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.53% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.03% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.03% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.03% January 1, 2017 February 28, 2018
Invesco Global Market Neutral Fund
Class A Shares Contractual 1.50% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.25% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.75% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.25% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.25% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.25% January 1, 2017 February 28, 2018
See page 17 for footnotes to Exhibit A.
11
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ----------------- -----------------
Invesco Global Targeted Returns Fund4
Class A Shares Contractual 1.44% less net AFFE* January 1, 2017 February 28, 2018
Class C Shares Contractual 2.19% less net AFFE* January 1, 2017 February 28, 2018
Class R Shares Contractual 1.69% less net AFFE* January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.19% less net AFFE* January 1, 2017 February 28, 2018
Invesco Greater China Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Long/Short Equity Fund
Class A Shares Contractual 1.59% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.34% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.84% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.34% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.34% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.34% January 1, 2017 February 28, 2018
Invesco Low Volatility Emerging Markets Fund
Class A Shares Contractual 1.33% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.08% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.58% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.08% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.08% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.08% January 1, 2017 February 28, 2018
Invesco MLP Fund
Class A Shares Contractual 1.28% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.03% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.53% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.03% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.03% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.03% January 1, 2017 February 28, 2018
Invesco Macro Allocation Strategy Fund/5/
Class A Shares Contractual 1.44% January 1, 2017 February 28, 2018
Class C Shares Contractual 2.19% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.69% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 1.19% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 1.19% January 1, 2017 February 28, 2018
Class Y Shares Contractual 1.19% January 1, 2017 February 28, 2018
Invesco Macro International Equity Fund
Class A Shares Contractual 1.43% December 17, 2013 February 28, 2018
Class C Shares Contractual 2.18% December 17, 2013 February 28, 2018
Class R Shares Contractual 1.68% December 17, 2013 February 28, 2018
Class R5 Shares Contractual 1.18% December 17, 2013 February 28, 2018
Class R6 Shares Contractual 1.18% December 17, 2013 February 28, 2018
Class Y Shares Contractual 1.18% December 17, 2013 February 28, 2018
See page 17 for footnotes to Exhibit A.
12
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Macro Long/Short Fund
Class A Shares Contractual 1.87% December 17, 2013 February 28, 2018
Class C Shares Contractual 2.62% December 17, 2013 February 28, 2018
Class R Shares Contractual 2.12% December 17, 2013 February 28, 2018
Class R5 Shares Contractual 1.62% December 17, 2013 February 28, 2018
Class R6 Shares Contractual 1.62% December 17, 2013 February 28, 2018
Class Y Shares Contractual 1.62% December 17, 2013 February 28, 2018
Invesco Multi-Asset Income Fund
Class A Shares Contractual 0.85% January 1, 2017 February 28, 2018
Class C Shares Contractual 1.60% January 1, 2017 February 28, 2018
Class R Shares Contractual 1.10% January 1, 2017 February 28, 2018
Class R5 Shares Contractual 0.60% January 1, 2017 February 28, 2018
Class R6 Shares Contractual 0.60% January 1, 2017 February 28, 2018
Class Y Shares Contractual 0.60% January 1, 2017 February 28, 2018
Invesco Pacific Growth Fund
Class A Shares Contractual 2.25% July 1, 2012 June 30. 2017
Class B Shares Contractual 3.00% July 1, 2012 June 30, 2017
Class C Shares Contractual 3.00% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.50% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class Y Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Select Companies Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30. 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Invesco World Bond Fund
Class A Shares Contractual 0.94% December 1, 2016 February 28, 2018
Class B Shares Contractual 1.69% December 1, 2016 February 28, 2018
Class C Shares Contractual 1.69% December 1, 2016 February 28, 2018
Class R5 Shares Contractual 0.69% December 1, 2016 February 28, 2018
Class R6 Shares Contractual 0.69% December 1, 2016 February 28, 2018
Class Y Shares Contractual 0.69% December 1, 2016 February 28, 2018
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Corporate Bond Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Global Real Estate Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
See page 17 for footnotes to Exhibit A.
13
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco High Yield Fund
Class A Shares Contractual 1.50% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.25% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2013 June 30, 2017
Investor Class Shares Contractual 1.50% July 1, 2013 June 30, 2017
Invesco Short Duration Inflation Protected Fund
Class A Shares Contractual 0.55% December 31, 2015 June 30, 2017
Class A2 Shares Contractual 0.45% December 31, 2015 June 30, 2017
Class R5 Shares Contractual 0.30% December 31, 2015 June 30, 2017
Class R6 Shares Contractual 0.30% December 31, 2015 June 30, 2017
Class Y Shares Contractual 0.30% December 31, 2015 June 30, 2017
Invesco Real Estate Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Short Term Bond Fund
Class A Shares Contractual 1.40% July 1, 2013 June 30, 2017
Class C Shares Contractual 1.75%/6/ July 1, 2013 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.25% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2013 June 30, 0000
Xxxxxxx X.X. Government Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 1.50% July 1, 2012 June 30, 2017
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco American Value Fund
Class A Shares Contractual 2.00% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2013 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class R6 Shares Contractual 1.75% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2013 June 30, 2017
See page 17 for footnotes to Exhibit A.
14
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Xxxxxxxx Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Energy Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Dividend Income Fund
Class A Shares Contractual 2.00% September 1, 2016 June 30, 2017
Class B Shares Contractual 2.75% September 1, 2016 June 30, 2017
Class C Shares Contractual 2.75% September 1, 2016 June 30, 2017
Class R5 Shares Contractual 1.75% September 1, 2016 June 30, 2017
Class R6 Shares Contractual 1.75% September 1, 2016 June 30, 2017
Class Y Shares Contractual 1.75% September 1, 2016 June 30, 2017
Investor Class Shares Contractual 2.00% September 1, 2016 June 30, 2017
Invesco Gold & Precious Metals Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2017
Invesco Mid Cap Growth Fund
Class A Shares Contractual 2.00% August 1, 2015 June 30, 2017
Class B Shares Contractual 2.75% August 1, 2015 June 30, 2017
Class C Shares Contractual 2.75% August 1, 2015 June 30, 2017
Class R Shares Contractual 2.25% August 1, 2015 June 30, 2017
Class R5 Shares Contractual 1.75% August 1, 2015 June 30, 2017
Class R6 Shares Contractual 1.75% August 1, 2015 June 30, 2017
Class Y Shares Contractual 1.75% August 1, 2015 June 30, 2017
Invesco Small Cap Value Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco Technology Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2017
Invesco Technology Sector Fund
Class A Shares Contractual 2.00% February 12, 2010 June 30, 2017
Class B Shares Contractual 2.75% February 12, 2010 June 30, 2017
Class C Shares Contractual 2.75% February 12, 2010 June 30, 2017
Class Y Shares Contractual 1.75% February 12, 2010 June 30, 2017
See page 17 for footnotes to Exhibit A.
15
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco Value Opportunities Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2017
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2017
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco High Yield Municipal Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Intermediate Term Municipal Income Fund
Class A Shares Contractual 0.84% July 1, 2016 June 30, 2017
Class B Shares Contractual 1.59% July 1, 2016 June 30, 2017
Class C Shares Contractual 1.59% July 1, 2016 June 30, 2017
Class Y Shares Contractual 0.59% July 1, 2016 June 30, 2017
Invesco Municipal Income Fund
Class A Shares Contractual 1.50% July 1, 2013 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2013 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2013 June 30, 2017
Investor Class Contractual 1.50% July 15, 2013 June 30, 2017
Invesco New York Tax Free Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
Invesco Limited Term Municipal Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2017
Class A2 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class C Shares Contractual 2.25% June 30, 2013 June 30, 2017
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2017
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2017
See page 17 for footnotes to Exhibit A.
16
INVESCO MANAGEMENT TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Conservative Income Fund
Institutional Class Contractual 0.28% July 1, 2014 December 31, 2017
INVESCO SECURITIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Balanced-Risk Aggressive Allocation Fund Contractual 0.94% January 1, 2017 February 28, 2018
* ACQUIRED FUND FEES AND EXPENSES ("AFFE") WILL BE CALCULATED AS OF THE
FUND'S FISCAL YEAR END ACCORDING TO INSTRUCTION 3(F) OF ITEM 3 OF FORM
N-1A. "NET AFFE" WILL BE CALCULATED BY SUBTRACTING ANY WAIVERS BY INVESCO
ASSOCIATED WITH INVESTMENTS IN AFFILIATED FUNDS, SUCH AS INVESTMENTS IN
AFFILIATED MONEY MARKET FUNDS, FROM THE AFFE CALCULATED IN ACCORDANCE WITH
THE PRECEDING SENTENCE. FOR CLARITY, THE NET AFFE CALCULATED AS OF THE
FUND'S FISCAL YEAR END WILL BE USED THROUGHOUT THE WAIVER PERIOD IN
ESTABLISHING THE FUND'S WAIVER AMOUNT, REGARDLESS OF WHETHER ACTUAL AFFE
IS MORE OR LESS DURING THE WAIVER PERIOD.
/1/ The total operating expenses of any class of shares established after the
date of this Memorandum of Agreement will be limited to the amount
established for Class A Shares plus the difference between the new class
12b-1 rate and the Class A 12b-1 rate.
/2/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund I, Ltd.
/3/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund III, Ltd.
/4/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund VII, Ltd.
/5/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund V, Ltd.
/6/ The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by Invesco Distributors, Inc.
17
EXHIBIT "B" - INSTITUTIONAL MONEY MARKET FUNDS/1,2/
SHORT-TERM INVESTMENTS TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Government & Agency Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.34% June 1, 2016 December 31, 2017
Liquid Assets Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.38% June 1, 2016 December 31, 2017
STIC Prime Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.34% June 1, 2016 December 31, 2017
Tax-Free Cash Reserve Portfolio/2/
Cash Management Class Contractual 0.28% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.23% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.20% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.75% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.45% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.07% June 1, 2016 December 31, 2017
Resource Class Contractual 0.36% June 1, 2016 December 31, 2017
Treasury Obligations Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.43% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.34% June 1, 2016 December 31, 2017
Treasury Portfolio
Cash Management Class Contractual 0.26% June 1, 2016 December 31, 2017
Corporate Class Contractual 0.21% June 1, 2016 December 31, 2017
Institutional Class Contractual 0.18% June 1, 2016 December 31, 2017
Personal Investment Class Contractual 0.73% June 1, 2016 December 31, 2017
Private Investment Class Contractual 0.48% June 1, 2016 December 31, 2017
Reserve Class Contractual 1.05% June 1, 2016 December 31, 2017
Resource Class Contractual 0.34% June 1, 2016 December 31, 2017
/1/ The expense rate excluding 12b-1 fees of any class of shares established
after the date of this Memorandum of Agreement will be the same as
existing classes.
/2/ The expense limitation also excludes Trustees' fees and federal
registration expenses.
18
EXHIBIT "C" - VARIABLE INSURANCE FUNDS
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ -------------------- ----------------- --------------
Invesco V.I. American Franchise Fund
Series I Shares Contractual 2.00% July 1, 2014 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2014 June 30, 2017
Invesco V.I. American Value Fund
Series I Shares Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2017
Invesco V.I. Balanced-Risk Allocation Fund/1/
Series I Shares Contractual 0.80% less net AFFE* May 1, 2014 April 30, 2018
Series II Shares Contractual 1.05% less net AFFE* May 1, 2014 April 30, 2018
Invesco V.I. Xxxxxxxx Fund
Series I Shares Contractual 0.78% May 1, 2013 April 30, 2018
Series II Shares Contractual 1.03% May 1, 2013 April 30, 2018
Invesco V.I. Core Equity Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Core Plus Bond Fund
Series I Shares Contractual 0.61% April 30, 2015 April 30, 2018
Series II Shares Contractual 0.86% April 30, 2015 April 30, 2018
Invesco V.I. Diversified Dividend Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Equally-Weighted S&P 500 Fund
Series I Shares Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2017
Invesco V.I. Equity and Income Fund
Series I Shares Contractual 1.50% July 1, 2012 June 30, 2017
Series II Shares Contractual 1.75% July 1, 2012 June 30, 2017
Invesco V.I. Global Core Equity Fund
Series I Shares Contractual 2.25% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.50% July 1, 2012 June 30, 2017
Invesco V.I. Global Health Care Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Global Real Estate Fund
Series I Shares Contractual 2.00% May 1, 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
/1/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund IV, Ltd.
19
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- --------------
Invesco V.I. Government Money Market Fund
Series I Shares Contractual 1.50% May 1, 2013 June 30, 2017
Series II Shares Contractual 1.75% May 1, 2013 June 30, 2017
Invesco V.I. Government Securities Fund
Series I Shares Contractual 1.50% May 1, 2013 June 30, 2017
Series II Shares Contractual 1.75% May 1, 2013 June 30, 2017
Invesco V.I. Growth and Income Fund
Series I Shares Contractual 0.78% May 1. 2013 April 30, 2018
Series II Shares Contractual 1.03% May 1, 2013 April 30, 2018
Invesco V.I. High Yield Fund
Series I Shares Contractual 1.50% May 1, 2014 June 30, 2017
Series II Shares Contractual 1.75% May 1, 2014 June 30, 2017
Invesco V.I. International Growth Fund
Series I Shares Contractual 2.25% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.50% July 1, 2012 June 30, 2017
Invesco V.I. Managed Volatility Fund
Series I Shares Contractual 2.00% May 1, 2015 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2015 June 30, 2017
Invesco V.I. Mid Cap Core Equity Fund
Series I Shares Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Mid Cap Growth Fund
Series I Shares Contractual 2.00% July 1, 2014 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2014 June 30, 2017
Invesco V.I. S&P 500 Index Fund
Series I Shares Contractual 2.00% July 1, 2012 June 30, 2017
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2017
Invesco V.I. Small Cap Equity Fund
Series I Shares Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Technology Fund
Series I Shares Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
Invesco V.I. Value Opportunities Fund
Series I Shares Contractual 2.00% May 1. 2013 June 30, 2017
Series II Shares Contractual 2.25% May 1, 2013 June 30, 2017
* ACQUIRED FUND FEES AND EXPENSES ("AFFE") WILL BE CALCULATED AS OF THE FUND'S
FISCAL YEAR END ACCORDING TO INSTRUCTION 3(F) OF ITEM 3 OF FORM N-1A. "NET
AFFE" WILL BE CALCULATED BY SUBTRACTING ANY WAIVERS BY INVESCO ASSOCIATED
WITH INVESTMENTS IN AFFILIATED FUNDS, SUCH AS INVESTMENTS IN AFFILIATED
MONEY MARKET FUNDS, FROM THE AFFE CALCULATED IN ACCORDANCE WITH THE
PRECEDING SENTENCE. FOR CLARITY, THE NET AFFE CALCULATED AS OF THE FUND'S
FISCAL YEAR END WILL BE USED THROUGHOUT THE WAIVER PERIOD IN ESTABLISHING
THE FUND'S WAIVER AMOUNT, REGARDLESS OF WHETHER ACTUAL AFFE IS MORE OR LESS
DURING THE WAIVER PERIOD.
20
Sub-Item 77Q1(e)
AMENDMENT NO. 7
MASTER INVESTMENT ADVISORY AGREEMENT
This Amendment dated as of November 4, 2016, amends the Master Investment
Advisory Agreement (the "Agreement"), dated June 1, 2000, by and between
Short-Term Investments Trust, a Delaware statutory trust, and Invesco Advisers
Inc., a Delaware corporation.
W I T N E S S E T H:
WHEREAS, the Trust desires to amend the Agreement to change the name of
Government TaxAdvantage Portfolio to Treasury Obligations Portfolio;
NOW, THEREFORE, the parties agree as follows;
1. Schedule A and Schedule B to the Agreement are hereby deleted in their
entirety and replaced with the following:
"SCHEDULE A
FUNDS AND EFFECTIVE DATES
NAME OF FUND EFFECTIVE DATE OF ADVISORY AGREEMENT
------------ -------------------------------------
Government & Agency Portfolio June 1, 2000
Treasury Obligations Portfolio June 1, 2000
Liquid Assets Portfolio November 24, 2003
STIC Prime Portfolio November 24, 2003
Tax-Free Cash Reserve Portfolio April 30, 2008
Treasury Portfolio June 1, 2000
SCHEDULE B
COMPENSATION TO THE ADVISOR
The Trust shall pay the Advisor, out of the assets of a Fund, as full
compensation for all services rendered, an advisory fee for such Fund set forth
below. Such fee shall be calculated by applying the following annual rates to
the average daily net assets of such Fund for the calendar year computed in the
manner used for the determination of the net asset value of shares of such Fund.
LIQUID ASSETS PORTFOLIO
STIC PRIME PORTFOLIO
TREASURY PORTFOLIO
NET ASSETS ANNUAL RATE
---------- -----------
All Assets............................................................ 0.15%
GOVERNMENT & AGENCY PORTFOLIO
NET ASSETS ANNUAL RATE
---------- -----------
All Assets............................................................ 0.10%
TREASURY OBLIGATIONS PORTFOLIO
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million.................................................... 0.20%
Over $250 million up to and including $500 million.................... 0.15%
Over $500 million..................................................... 0.10%
TAX-FREE CASH RESERVE PORTFOLIO
NET ASSETS ANNUAL RATE
---------- -----------
All Assets............................................................ 0.20%"
2. In all other respects, the Agreement is hereby confirmed and remains in full
force and effect.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
their respective officers on the date first written above.
SHORT-TERM INVESTMENTS TRUST
Attest: /s/ Peter A. Davidson By: /s/ John M. Zerr
-------------------------------- -------------------------------
Assistant Secretary John M. Zerr
Senior Vice President
(SEAL)
INVESCO ADVISERS, INC.
Attest: /s/ Peter A. Davidson By: /s/ John M. Zerr
-------------------------------- -------------------------------
Assistant Secretary John M. Zerr
Senior Vice President
(SEAL)
Sub-Item 77Q1(e)
AMENDMENT NO. 2
TO
MASTER INTERGROUP SUB-ADVISORY CONTRACT FOR MUTUAL FUNDS
This Amendment dated November 4, 2016, amends the Master Intergroup
Sub-Advisory Contract for Mutual Funds (the "Contract"), dated May 1, 2008,
between Invesco Advisers, Inc. (the "Adviser") on behalf of Short-Term
Investments Trust (the "Trust"), and each of Invesco Canada Ltd., Invesco Asset
Management Deutschland GmbH, Invesco Asset Management Limited, Invesco Asset
Management (Japan) Ltd., Invesco Hong Kong Limited, and Invesco Senior Secured
Management, Inc. (each a "Sub-Adviser" and, collectively, the "Sub-Advisers")
W I T N E S S E T H:
WHEREAS, the Trust desires to amend the Agreement to change the name of
Government TaxAdvantage Portfolio to Treasury Obligations Portfolio;
NOW, THEREFORE, the parties agree as follows;
1. Exhibit A to the Contract is hereby deleted in its entirety and replaced
with the following:
"EXHIBIT A
Government & Agency Portfolio
Liquid Assets Portfolio
STIC Prime Portfolio
Tax-Free Cash Reserve Portfolio
Treasury Portfolio
Treasury Obligations Portfolio"
2. All other terms and provisions of the Contract not amended shall remain
in full force and effect.
J-1
IN WITNESS WHEREOF, the parties hereto have caused this Contract to be
executed by their officers designated as of the day and year first above
written.
INVESCO ADVISERS, INC.
Adviser
By: /s/ John M. Zerr
------------------------------
Name: John M. Zerr
Title: Senior Vice President
J-2
INVESCO CANADA LTD.
Sub-Adviser
By: /s/ David C. Warren
------------------------------
Name: David C. Warren
Title: Executive Vice President &
Chief Financial Officer
By: /s/ Harsh Damani
------------------------------
Name: Harsh Damani
Title: Chief Financial Officer,
Funds & Senior Vice President,
Fund Administration
J-3
INVESCO ASSET MANAGEMENT DEUTSCHLAND GMBH
Sub-Advisor
By: /s/ Michael Fraikin /s/ Leif Baumann
---------------------------------------------
Name: Michael Fraikin Leif Baumann
Title: Director Head of Legal Germany
J-4
INVESCO ASSET MANAGEMENT LIMITED
Sub-Advisor
By: /s/ Graeme Proudfoot
------------------------------
Name: Graeme Proudfoot
Title: Director
J-5
INVESCO ASSET MANAGEMENT (JAPAN) LTD.
Sub-Advisor
By: /s/ Masakazu Hasegawa
-----------------------------------
Name: Masakazu Hasegawa
Title: Managing Director
J-6
INVESCO HONG KONG LIMITED
Sub-Advisor
By: /s/Tong Seen Ming Anna /s/ Lee Siu Mei
---------------------------------------------
Name: Tong Seen Ming Anna Lee Siu Mei
Title: Director Director
J-7
INVESCO SENIOR SECURED MANAGEMENT, INC.
Sub-Advisor
By: /s/ Jeffrey H. Kupor
-----------------------------------
Name: Jeffrey H. Kupor
Title: Secretary & General Counsel
J-8
