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EXHIBIT 1.A(1)(c)
[A I M DISTRIBUTORS, INC. LETTERHEAD]
February 18, 1999
VIA AIRBORNE EXPRESS
State Street Bank and Trust Company
000 Xxxxxxxx Xxxxxx
Xxxxxx, XX 00000
Re: Amendment of Custodian Agreement Dated June 1, 1983
Ladies and Gentlemen:
This letter amends that certain Custodian Agreement, dated June 1, 1983, between
State Street Bank and Trust Company and A I M Distributors, Inc. (the "Custodian
Agreement").
Effective as of March 1, 1999:
1. The first WHEREAS paragraph on page one of the Custodian Agreement is
hereby amended and restated to read in full as follows:
"WHEREAS, the Sponsor is engaged in the business of selling
shares of mutual funds and similar securities and presently
wishes to obtain the services of the Custodian in connection
with the administration of a plan for the accumulation of
Class I Shares of AIM Summit Fund, Inc. (the "Fund") which the
Sponsor sells and distributes for the benefit of Planholders
(as defined herein) of AIM Summit Investors Plans I (the
"Plan");"
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State Street Bank and Trust Company
February 18, 1999
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2. Section I.A.1. of the Custodian Agreement is hereby amended and
restated to read in full as follows:
"1. Nature of the Plan. The Sponsor intends to offer the Plan
for the accumulation of Class I Shares of the Fund, or any
other shares substituted therefor, under the terms of the Plan
(all such shares being hereinafter called the "Fund Shares"
and the issuer of such shares being hereinafter called the
"Fund," unless the context indicates otherwise). Beneficial
owners of Fund Shares under the Plan, regardless of whether
such beneficial ownership is evidenced by Plan Certificates,
are hereinafter called "Planholders"."
3. The second paragraph of Section II.A.7 of the Custodian Agreement is
hereby amended and restated to read in full as follows:
"A Planholder may decrease the amount of his Plan up to a
maximum of 50% of the face amount of the Plan, provided that
such request is made prior to the date of the Planholder's
sixth payment. A Planholder may increase the amount of his
Plan at any time. For a period of twelve (12) months following
a face change increase, the Planholder may decrease the
increased Plan to a smaller plan size, but not smaller than
the original Plan prior to the increase."
4. The first sentence of Section II.A.9. of the Custodian Agreement is
hereby amended to read as follows:
"The Custodian and the Sponsor agree that a Planholder may,
within 90 days after he has terminated his Plan, on written
request to the Sponsor, reinstate his Plan, subject to the
following restrictions:..."
The foregoing amendments reflect (i) the change in name of Summit Investors
Fund, Inc. to AIM Summit Fund, Inc., (ii) the designation of the plan for the
accumulation of shares of AIM Summit Fund, Inc. as the AIM Summit Investors
Plans I, (iii) the change
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State Street Bank and Trust Company
February 18, 1999
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in the name of the shares of AIM Summit Fund, Inc. to Class I Shares, (iv) the
extension from six (6) months to twelve (12) months as the period during which a
Planholder may decrease a Plan that had previously been increased, and (v) the
change in the period during which a planholder may exercise his reinstatement
privilege from 30 to 90 days. Other than as amended by the foregoing amendments,
the Custodian Agreement remains unaltered, and is in full force and effect.
Please indicate your agreement to the foregoing amendments to the Custodian
Agreement by signing, dating and returning the enclosed copy of this letter.
Sincerely,
/s/ X. XXXX XXXXXXXXXX
X. Xxxx Xxxxxxxxxx
Senior Vice President
The foregoing amendments to the Custodian Agreement are hereby accepted and
agreed to as of March 1, 1999.
State Street Bank and Trust Company
By: /s/ XXXXXX X. XXXXX
--------------------------------
Name: Xxxxxx X. Xxxxx
Title: Executive Vice President
