SUB-ITEM 77Q1(e)
MEMORANDUM OF AGREEMENT
This Memorandum of Agreement is entered into as of this 29th day of
April, 2005, between AIM Investment Securities Funds (the "Trust"), on behalf of
the fund listed on Exhibit "A" to this Memorandum of Agreement (the "Fund"), and
A I M Advisors, Inc. ("AIM"). AIM shall and hereby agrees to waive fees or
reimburse expenses of the 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 Trust and AIM agree as follows:
The Trust and AIM agree until the date set forth on the attached Exhibit
"A" (the "Expiration Date") that AIM will waive its fees or reimburse expenses
to the extent that expenses (excluding (i) interest; (ii) taxes; (iii) dividend
expense on short sales; (iv) extraordinary items (these are expenses that are
not anticipated to arise from the Fund's day-to-day operations), or items
designated as such by the Fund's Board of Trustees; (v) expenses related to a
merger or reorganization, as approved by the Fund's Board of Trustees; (vi)
expenses that the Fund has incurred but did not actually pay because of an
expense offset arrangement and (vii) excluding Rule 12b-1 fees, if applicable)
of a class of a Fund exceed the rate, on an annualized basis, set forth on
Exhibit "A" of the average daily net assets allocable to such class. The Board
of Trustees and AIM may terminate or modify this Memorandum of Agreement prior
to the Expiration Date only by mutual written consent. AIM will not have any
right to reimbursement of any amount so waived or reimbursed.
The Trust and AIM agree to review the then-current waivers or expense
limitations for each class of the Fund listed on Exhibit "A" on a date prior to
the Expiration Date to determine whether such waivers or limitations should be
amended, continued or terminated. The waivers or expense limitations will expire
upon the Expiration Date unless the Trust and AIM have agreed to continue them.
Exhibit "A" will be amended to reflect any such agreement.
It is expressly agreed that the obligations of the Trust hereunder shall
not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Trust personally, but shall only bind the assets and
property of the Fund, as provided in the Trust's Agreement and Declaration of
Trust. The execution and delivery of this Memorandum of Agreement have been
authorized by the Trustees of the Trust, and this Memorandum of Agreement has
been executed and delivered by an authorized officer of the Trust 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 Fund, as provided in the Trust's
Agreement and Declaration of Trust.
IN WITNESS WHEREOF, the Trust and AIM have entered into this Memorandum of
Agreement as of the date first above written.
AIM INVESTMENT SECURITIES FUNDS
on behalf of the Fund listed in Exhibit
"A" to this Memorandum of Agreement
By: /s/ Xxxxxx X. Xxxxxx
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Title: President
A I M Advisors, Inc.
By: /s/ Xxxx X. Xxxxxxxxxx
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Title: President
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EXHIBIT "A"
AIM INVESTMENT SECURITIES FUNDS
FUND EXPENSE LIMITATION COMMITTED UNTIL
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AIM Global Real Estate Fund
Class A 1.50% July 31, 2006
Class B 2.15% July 31, 2006
Class C 2.15% July 31, 2006
Class R 1.65% July 31, 2006
Institutional Class 1.15% July 31, 2006
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