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, AIM
Equity Funds, AIM Growth Series, AIM Investment Funds, AIM Investment Securities
Funds, AIM Sector Funds, AIM Tax-Exempt Funds, AIM Variable Insurance Funds 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 Aim Advisors, Inc. ("Invesco Aim"). Invesco Aim 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 Aim agree as follows:
For the Contractual Limits (listed in Exhibits A - D), the Trusts and
Invesco Aim agree until at least the expiration date set forth on the attached
Exhibits A - D (the "Expiration Date") that Invesco Aim 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 items; (v) expenses related to a merger or reorganization, as
approved by the Funds' Boards of Trustees; (vi) expenses of the underlying funds
that are paid indirectly as a result of share ownership of the underlying funds;
and (vii) 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.
With regard to the Contractual Limits, the Board of Trustees of the Trust and
Invesco Aim may terminate or modify this Memorandum of Agreement prior to the
Expiration Date only by mutual written consent. Invesco Aim will not have any
right to reimbursement of any amount so waived or reimbursed.
For the Contractual Limits, each of the Trusts and Invesco Aim agree 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 the Trusts and Invesco Aim have
agreed to continue them. The Exhibits will be amended to reflect any such
agreement.
For the Voluntary Limits (listed in Exhibits A - D), the Trusts and Invesco
Aim agree that these are not contractual in nature and that Invesco Aim may
establish, amend and/or terminate such expense limitations at any time in its
sole discretion after consultation with the Funds' Boards of Trustees. Any delay
or failure by Invesco Aim 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 Aim have entered into
this Memorandum of Agreement as of the Effective Dates on the attached Exhibits.
AIM COUNSELOR SERIES TRUST
AIM EQUITY FUNDS
AIM GROWTH SERIES
AIM INVESTMENT FUNDS
AIM INVESTMENT SECURITIES FUNDS
AIM SECTOR FUNDS
AIM TAX-EXEMPT FUNDS
AIM VARIABLE INSURANCE FUNDS
on behalf of the Funds listed in the Exhibits
to this Memorandum of Agreement
By: /s/ Xxxx X. Xxxx
-----------------------------------------
Title: Senior Vice President
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 Aim Advisors, Inc.
By: /s/ Xxxx X. Xxxx
-----------------------------------------
Title: Senior Vice President
2
as of July 1, 2008
EXHIBIT "A" - RETAIL FUNDS(1)
FUNDS WITH FISCAL YEAR END OF MARCH 31
AIM SECTOR FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ----------------- -------------
AIM Technology Fund
Class A Shares Contractual 1.55% July 1, 2005 June 30, 2009
Class B Shares Contractual 2.30% July 1, 2005 June 30, 2009
Class C Shares Contractual 2.30% July 1, 2005 June 30, 2009
Investor Class Shares Contractual 1.55% July 1, 2005 June 30, 2009
Institutional Class Shares Contractual 1.30% July 1, 2005 June 30, 2009
AIM TAX-EXEMPT FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ----------------- -------------
AIM High Income Municipal Fund
Class A Shares Voluntary 0.75% May 1, 2008 N/A(2)
Class B Shares Voluntary 1.50% May 1, 2008 N/A(2)
Class C Shares Voluntary 1.50% May 1, 2008 N/A(2)
Institutional Class Shares Voluntary 0.50% May 1, 2008 N/A(2)
FUNDS WITH FISCAL YEAR END OF JULY 31
AIM INVESTMENT SECURITIES FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ----------------- -------------
AIM Core Bond Fund
Class A Shares Contractual 1.00% July 1, 2005 June 30, 2009
Class B Shares Contractual 1.75% July 1, 2002 June 30, 2009
Class C Shares Contractual 1.75% July 1, 2002 June 30, 2009
Class R Shares Contractual 1.25% April 30, 2004 June 30, 2009
Institutional Class Shares Contractual 0.75% April 30, 2004 June 30, 2009
AIM Short Term Bond Fund
Class A Shares Contractual 0.85% July 1, 2005 June 30, 2009
Class C Shares Contractual 1.10%(3) February 1, 2006 June 30, 2009
Class R Shares Contractual 1.10% August 30, 2002 June 30, 2009
Institutional Class Shares Contractual 0.60% August 30, 2002 June 30, 2009
See page 5 for footnotes to Exhibit A.
3
as of July 1, 2008
FUNDS WITH FISCAL YEAR END OF AUGUST 31
AIM COUNSELOR SERIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ----------------- -------------
AIM Floating Rate Fund
Class A Shares Contractual 1.50% April 14, 2006 June 30, 2009
Class C Shares Contractual 2.00% April 14, 2006 June 30, 2009
Class R Shares Contractual 1.75% April 14, 2006 June 30, 2009
Institutional Class Shares Contractual 1.25% April 14, 2006 June 30, 2009
AIM Structured Core Fund
Class A Contractual 0.60% April 28, 2008 June 30, 2009
Class B Contractual 1.35% April 28, 2008 June 30, 2009
Class C Contractual 1.35% April 28, 2008 June 30, 2009
Class R Contractual 0.85% April 28, 2008 June 30, 2009
Investor Class Contractual 0.60% April 28, 2008 June 30, 2009
Institutional Class Contractual 0.35% April 28, 2008 June 30, 2009
AIM Structured Growth Fund
Class A Contractual 1.00% March 31, 2006 June 30, 2009
Class B Contractual 1.75% March 31, 2006 June 30, 2009
Class C Contractual 1.75% March 31, 2006 June 30, 2009
Class R Contractual 1.25% March 31, 2006 June 30, 2009
Institutional Class Contractual 0.75% March 31, 2006 June 30, 2009
AIM Structured Value Fund
Class A Contractual 1.00% March 31, 2006 June 30, 2009
Class B Contractual 1.75% March 31, 2006 June 30, 2009
Class C Contractual 1.75% March 31, 2006 June 30, 2009
Class R Contractual 1.25% March 31, 2006 June 30, 2009
Institutional Class Contractual 0.75% March 31, 2006 June 30, 2009
FUNDS WITH FISCAL YEAR END OF OCTOBER 31
AIM EQUITY FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ----------------- -------------
AIM Large Cap Basic Value Fund
Class A Shares Contractual 1.22% July 1, 2005 June 30, 2009
Class B Shares Contractual 1.97% July 1, 2005 June 30, 2009
Class C Shares Contractual 1.97% July 1, 2005 June 30, 2009
Class R Shares Contractual 1.47% July 1, 2005 June 30, 2009
Investor Class Shares Contractual 1.22% July 1, 2005 June 30, 2009
Institutional Class Shares Contractual 0.97% July 1, 2005 June 30, 2009
AIM Large Cap Growth Fund
Class A Shares Contractual 1.32% July 1, 2005 June 30, 2009
Class B Shares Contractual 2.07% July 1, 2005 June 30, 2009
Class C Shares Contractual 2.07% July 1, 2005 June 30, 2009
Class R Shares Contractual 1.57% July 1, 2005 June 30, 2009
Investor Class Shares Contractual 1.32% July 1, 2005 June 30, 2009
Institutional Class Shares Contractual 1.07% July 1, 2005 June 30, 2009
See page 5 for footnotes to Exhibit A.
4
as of July 1, 2008
AIM INVESTMENT FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ----------------- -------------
AIM China Fund
Class A Shares Contractual 2.05% March 31, 2006 June 30, 2009
Class B Shares Contractual 2.80% March 31, 2006 June 30, 2009
Class C Shares Contractual 2.80% March 31, 2006 June 30, 2009
Institutional Class Shares Contractual 1.80% March 31, 2006 June 30, 2009
AIM Developing Markets Fund
Class A Shares Contractual 1.75% July 1, 2005 June 30, 2009
Class B Shares Contractual 2.50% July 1, 2002 June 30, 2009
Class C Shares Contractual 2.50% July 1, 2002 June 30, 2009
Institutional Class Shares Contractual 1.50% October 25, 2005 June 30, 2009
AIM International Total Return Fund
Class A Shares Contractual 1.10% March 31, 2006 June 30, 2009
Class B Shares Contractual 1.85% March 31, 2006 June 30, 2009
Class C Shares Contractual 1.85% March 31, 2006 June 30, 2009
Institutional Class Shares Contractual 0.85% Xxxxx 00, 0000 Xxxx 00, 0000
XXX Xxxxx Fund
Class A Shares Contractual 1.70% March 31, 2006 June 30, 2009
Class B Shares Contractual 2.45% March 31, 2006 June 30, 2009
Class C Shares Contractual 2.45% March 31, 2006 June 30, 2009
Institutional Class Shares Contractual 1.45% March 31, 2006 June 30, 2009
AIM LIBOR Alpha Fund
Class A Shares Contractual 0.85% March 31, 2006 June 30, 2009
Class C Shares Contractual 1.10%(3) March 31, 2006 June 30, 2009
Class R Shares Contractual 1.10% March 31, 2006 June 30, 2009
Institutional Class Shares Contractual 0.60% March 31, 2006 June 30, 2009
AIM Trimark Fund
Class A Shares Contractual 2.15% July 1, 2005 June 30, 2009
Class B Shares Contractual 2.90% November 1, 2004 June 30, 2009
Class C Shares Contractual 2.90% November 1, 2004 June 30, 2009
Class R Shares Contractual 2.40% November 1, 2004 June 30, 2009
Institutional Class Shares Contractual 1.90% November 1, 2004 June 30, 2009
(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) AIM may establish, amend or terminate voluntary waivers at any time in its
sole discretion after consultation with the Trust.
(3) The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by Invesco Aim Distributors, Inc.
5
as of July 1, 2008
EXHIBIT "B" - ASSET ALLOCATION FUNDS(1)
AIM GROWTH SERIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE
----------------------------------- ------------ ---------------------------- ----------------- -------------
AIM Conservative Allocation Fund
Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.23% of average daily net
assets
Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.23% of average daily net
assets
Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.23% of average daily net
assets
Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.23% of average daily net
assets
Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.23% of average daily net
assets
AIM Growth Allocation Fund
Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.21% of average daily net
assets
Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.21% of average daily net
assets
Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.21% of average daily net
assets
Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.21% of average daily net
assets
Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.21% of average daily net
assets
AIM Income Allocation Fund
Class A Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.03% of average daily net
assets
Class B Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.03% of average daily net
assets
Class C Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.03% of average daily net
assets
Class R Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.03% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.03% of average daily net
assets
See page 10 for footnotes to Exhibit B.
6
as of July 1, 2008
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE
----------------------------------- ------------ ---------------------------- ----------------- -------------
AIM Independence Now Fund
Class A Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.02% of average daily net
assets
Class B Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.02% of average daily net
assets
Class C Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.02% of average daily net
assets
Class R Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.02% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.02% of average daily net
assets
AIM Independence 2010 Fund
Class A Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.04% of average daily net
assets
Class B Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.04% of average daily net
assets
Class C Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.04% of average daily net
assets
Class R Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.04% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.04% of average daily net
assets
AIM Independence 2020 Fund
Class A Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.07% of average daily net
assets
Class B Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.07% of average daily net
assets
Class C Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.07% of average daily net
assets
Class R Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.07% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.07% of average daily net
assets
See page 10 for footnotes to Exhibit B.
7
as of July 1, 2008
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE
----------------------------------- ------------ ---------------------------- ----------------- -------------
AIM Independence 2030 Fund
Class A Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.10% of average daily net
assets
Class B Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.10% of average daily net
assets
Class C Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.10% of average daily net
assets
Class R Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.10% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.10% of average daily net
assets
AIM Independence 2040 Fund
Class A Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.09% of average daily net
assets
Class B Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.09% of average daily net
assets
Class C Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.09% of average daily net
assets
Class R Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.09% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.09% of average daily net
assets
AIM Independence 2050 Fund
Class A Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.08% of average daily net
assets
Class B Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.08% of average daily net
assets
Class C Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.08% of average daily net
assets
Class R Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.08% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to May 1, 2008 June 30, 2009
0.08% of average daily net
assets
See page 10 for footnotes to Exhibit B.
8
as of July 1, 2008
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE
----------------------------------- ------------ ---------------------------- ----------------- -------------
AIM International Allocation Fund
Class A Contractual Limit Other Expenses to October 31, 2005 June 30, 2009
0.18% of average daily net
assets
Class B Contractual Limit Other Expenses to October 31, 2005 June 30, 2009
0.18% of average daily net
assets
Class C Contractual Limit Other Expenses to October 31, 2005 June 30, 2009
0.18% of average daily net
assets
Class R Contractual Limit Other Expenses to October 31, 2005 June 30, 2009
0.18% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to October 31, 2005 June 30, 2009
0.18% of average daily net
assets
AIM Moderate Allocation Fund
Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.12% of average daily net
assets
Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.12% of average daily net
assets
Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.12% of average daily net
assets
Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.12% of average daily net
assets
Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009
0.12% of average daily net
assets
AIM Moderate Growth Allocation Fund
Class A Shares
Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.12% of average daily net
Class B Shares assets
Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.12% of average daily net
Class C Shares assets
Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.12% of average daily net
Class R Shares assets
Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.12% of average daily net
Institutional Class Shares assets
Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.12% of average daily net
assets
See page 10 for footnotes to Exhibit B.
9
as of July 1, 2008
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE
----------------------------------- ------------ ---------------------------- ----------------- -------------
AIM Moderately Conservative
Allocation Fund
Class A Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.14% of average daily net
assets
Class B Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.14% of average daily net
assets
Class C Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.14% of average daily net
assets
Class R Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.14% of average daily net
assets
Institutional Class Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009
0.14% of average daily net
assets
(1) Other Expenses of any class of shares established after the date of this
Memorandum of Agreement will be limited to the same amount established for
Class A shares.
(2) Other Expenses are defined as all normal operating expenses of the fund,
excluding management fees and 12b-1 expenses, if any. The expense
limitation is subject to the exclusions as listed in the Memorandum of
Agreement.
10
as of July 1, 2008
EXHIBIT "C" - INSTITUTIONAL MONEY MARKET FUNDS(1,2)
FUNDS WITH FISCAL YEAR END OF AUGUST 31
SHORT-TERM INVESTMENTS TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ----------------- -------------
Government & Agency Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009
Resource Class Contractual 0.12% June 30, 2005 June 30, 2009
Government TaxAdvantage Portfolio
Cash Management Class
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009
Resource Class Contractual 0.12% June 30, 2005 June 30, 2009
Contractual 0.12% June 30, 2005 June 30, 2009
Liquid Assets Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009
Resource Class Contractual 0.12% June 30, 2005 June 30, 2009
STIC Prime Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009
Resource Class Contractual 0.12% June 30, 2005 June 30, 2009
Tax-Free Cash Reserve Portfolio(3)
Cash Management Class Contractual 0.22% April 30, 2008 June 30, 2009
Corporate Class Contractual 0.22% April 30, 2008 June 30, 2009
Institutional Class Contractual 0.22% April 30, 2008 June 30, 2009
Personal Investment Class Contractual 0.22% April 30, 2008 June 30, 2009
Private Investment Class Contractual 0.22% April 30, 2008 June 30, 2009
Reserve Class Contractual 0.22% April 30, 2008 June 30, 2009
Resource Class Contractual 0.22% April 30, 2008 June 30, 2009
See page 12 for footnotes to Exhibit C.
11
as of July 1, 2008
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ----------------- -------------
Treasury Portfolio Contractual 0.12% June 30, 2005 June 30, 2009
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009
Resource Class
(1) The expense limit shown excludes Rule 12b-1 fees.
(2) 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.
(3) The expense limitation also excludes Trustees' fees and federal
registration expenses. As of the date of this agreement, the fiscal year
end of Tax-Free Cash Reserve Portfolio is 3/31. Effective April 30, 2008,
Tax-Free Cash Reserve Portfolio was reorganized as a portfolio of Tax-Free
Investments Trust ("TFIT") to Short-Term Investments Trust following
shareholder approval at a meeting held on February 29, 2008. The Board of
Trustees of TFIT previously approved this expense limitation at a meeting
on June 26-27, 2007 to be effective until at least June 30, 2008. As a
portfolio of TFIT, this limitation has been in effect since June 30, 2005.
12
as of July 1, 2008
EXHIBIT "D" - VARIABLE INSURANCE FUNDS
AIM VARIABLE INSURANCE FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ------------------ -------------
AIM V.I. Basic Balanced Fund
Series I Shares Contractual 0.91% July 1, 2005 April 30, 2010
Series II Shares Contractual 1.16% July 1, 2005 April 30, 2010
AIM V.I. Basic Value Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010
AIM V.I. Capital Appreciation Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010
AIM V.I. Capital Development Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010
AIM V.I. Core Equity Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010
AIM V.I. Diversified Income Fund
Series I Shares Contractual 0.75% July 1, 2005 April 30, 2010
Series II Shares Contractual 1.00% July 1, 2005 April 30, 2010
AIM V.I. Dynamics Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010
AIM V.I. Financial Services Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010
AIM V.I. Global Health Care Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010
AIM V.I. Global Real Estate Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010
AIM V.I. Government Securities Fund
Series I Shares Contractual 0.73% July 1, 2005 April 30, 2010
Series II Shares Contractual 0.98% July 1, 2005 April 30, 2010
13
as of July 1, 2008
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
----------------------------------- ------------ ---------- ------------------ -------------
AIM V.I. High Yield Fund
Series II Shares Contractual 0.95% July 1, 2005 April 30, 2010
Series II Shares Contractual 1.20% April 30, 2004 April 30, 2010
AIM V.I. International Growth Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010
AIM V.I. Large Cap Growth Fund
Series I Shares Contractual 1.01% July 1, 2005 April 30, 2010
Series II Shares Contractual 1.26% July 1, 2005 April 30, 2010
AIM V.I. Leisure Fund
Series I Shares Contractual 1.01% April 30, 2004 April 30, 2010
Series II Shares Contractual 1.26% April 30, 2004 April 30, 2010
AIM V.I. Mid Cap Core Equity Fund
Series I Shares Contractual 1.30% September 10, 2001 April 30, 2010
Series II Shares Contractual 1.45% September 10, 2001 April 30, 2010
AIM V.I. Money Market Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010
AIM V.I. Small Cap Equity Fund
Series I Shares Contractual 1.15% July 1, 2005 April 30, 2010
Series II Shares Contractual 1.40% July 1, 2005 April 30, 2010
AIM V.I. Technology Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010
AIM V.I. Utilities Fund
Series I Shares Contractual 0.93% September 23, 2005 April 30, 2010
Series II Shares Contractual 1.18% September 23, 2005 April 30, 2010
14
