MEMORANDUM OF AGREEMENT
This Memorandum of Agreement is entered into as of the effective date
listed on Exhibit "A" of this agreement, between AIM Equity Funds, AIM Funds
Group, AIM Growth Series, AIM International Mutual Funds, AIM Investment Funds,
AIM Investment Securities Funds and AIM Sector Funds, (each a "Trust" and
collectively, the "Trusts"), on behalf of the funds listed on Exhibit "A" to
this Memorandum of Agreement (the "Funds"), and AIM Investment Services, Inc.
("AIS"). This Memorandum of Agreement restates the Memorandum of Agreement dated
as of July 1, 2003, as restated November 25, 2003, as restated August 1, 2004,
as restated November 1, 2004 and as restated January 1, 2005 between AIM Equity
Funds, AIM Funds Group, AIM Growth Series, AIM International Funds, Inc. (now
known as AIM International Mutual Funds), AIM Investment Securities Funds and A
I M Fund Services, Inc. (now known as AIM Investment Services, Inc.). AIS 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
Exhibit A.
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 AIS as follows:
Each Trust and AIS agree until the date set forth on the attached Exhibit
"A" (the "Expiration Date") that AIS will limit transfer agency expenses of each
Fund's Institutional Class at the rates, on an annualized basis, set forth on
Exhibit "A". The Boards of Trustees and AIS may terminate or modify this
Memorandum of Agreement prior to the Expiration Date only by mutual written
consent. AIS will not have any right to reimbursement of any amount so waived.
The Trusts and AIS agree to review the then-current waivers or expense
limitations for each class of each Fund listed on Exhibit "A" on a date prior to
the Expiration Date listed on that Exhibit 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 AIS 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 Funds, 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 Funds, as provided in the Trust's
Agreement and Declaration of Trust.
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IN WITNESS WHEREOF, each Trust, on behalf of itself and its Funds listed
in Exhibit "A" to this Memorandum of Agreement, and AIS have entered into this
Memorandum of Agreement as of the date written above.
AIM EQUITY FUNDS
AIM FUNDS GROUP
AIM GROWTH SERIES
AIM INTERNATIONAL MUTUAL FUNDS
AIM INVESTMENT FUNDS
AIM INVESTMENT SECURITIES FUNDS
AIM SECTOR FUNDS
on behalf of the Funds listed in Exhibit "A"
to this Memorandum of Agreement
By: /s/ Xxxxxx X. Xxxxxx
----------------------------------------
Title: President
AIM INVESTMENT SERVICES, INC.
By: /s/ Xxxxxxx X. Xxxxxx, Xx.
----------------------------------------
Title: President
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EXHIBIT "A"
FUNDS WITH FISCAL YEAR END OF MARCH 31
AIM SECTOR FUNDS
FUND EXPENSE LIMITATION EFFECTIVE DATE EXPIRATION DATE
------------------ -------------- ---------------
AIM Technology Fund
Institutional Class 0.10% April 1, 2005 March 31, 2006
AIM TAX-EXEMPT FUNDS
FUND EXPENSE LIMITATION EFFECTIVE DATE EXPIRATION DATE
------------------ -------------- ---------------
AIM Tax-Free Intermediate Fund
Institutional Class 0.10% April 1, 2005 March 31, 2006
FUNDS WITH FISCAL YEAR END OF JULY 31
AIM INVESTMENT SECURITIES FUNDS
FUND EXPENSE LIMITATION EFFECTIVE DATE EXPIRATION DATE
------------------ -------------- ---------------
AIM Limited Maturity Treasury Fund
Institutional Class 0.10% August 1, 2004 July 31, 2005
FUNDS WITH FISCAL YEAR END OF OCTOBER 31
AIM EQUITY FUNDS
FUND EXPENSE LIMITATION EFFECTIVE DATE EXPIRATION DATE
------------------ --------------- ---------------
AIM Aggressive Growth Fund
Institutional Class 0.10% September 1, 2004 October 31, 2005
AIM Blue Chip Fund
Institutional Class 0.10% October 31, 2005
AIM Capital Development Fund
Institutional Class 0.10% October 31, 2005
AIM Charter Fund
Institutional Class 0.10% October 31, 2005
AIM Constellation Fund
Institutional Class 0.10% October 31, 2005
AIM Large Cap Basic Value Fund
Institutional Class 0.10% October 31, 2005
AIM Large Cap Growth Fund
Institutional Class 0.10% October 31, 2005
AIM Mid Cap Growth Fund
Institutional Class 0.10% October 31, 2005
AIM Xxxxxxxxxx Fund
Institutional Class 0.10% October 31, 2005
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AIM INTERNATIONAL MUTUAL FUNDS
FUND EXPENSE LIMITATION EFFECTIVE DATE EXPIRATION DATE
------------------ -------------- ---------------
AIM International Growth Fund
Institutional Class 0.10% September 1, 2004 October 31, 2005
AIM International Core Equity Fund
Institutional Class 0.10% October 31, 2005
AIM INVESTMENT FUNDS
FUND EXPENSE LIMITATION EFFECTIVE DATE EXPIRATION DATE
------------------ -------------- ---------------
AIM Trimark Endeavor Fund
Institutional Class 0.10% September 1, 2004 October 31, 2005
AIM Trimark Fund
Institutional Class 0.10% October 31, 2005
AIM Trimark Small Companies Fund
Institutional Class 0.10% October 31, 2005
FUNDS WITH FISCAL YEAR END OF DECEMBER 31
AIM FUNDS GROUP
FUND EXPENSE LIMITATION EFFECTIVE DATE EXPIRATION DATE
------------------ -------------- ---------------
AIM Balanced Fund
Institutional Class 0.10% January 1, 2005 December 31, 2005
AIM Basic Balanced Fund
Institutional Class 0.10% December 31, 2005
AIM Mid Cap Basic Value Fund
Institutional Class 0.10% December 31, 2005
AIM Premier Equity Fund
Institutional Class 0.10% December 31, 2005
AIM GROWTH SERIES
FUND EXPENSE LIMITATION EFFECTIVE DATE EXPIRATION DATE
------------------ -------------- ---------------
AIM Aggressive Allocation Fund
Institutional Class 0.10% January 1, 2005 December 31, 2005
AIM Basic Value Fund
Institutional Class 0.10% December 31, 2005
AIM Conservative Allocation Fund
Institutional Class 0.10% December 31, 2005
AIM Global Equity Fund
Institutional Class 0.10% December 31, 2005
AIM Mid Cap Core Equity Fund
Institutional Class 0.10% December 31, 2005
AIM Moderate Allocation Fund
Institutional Class 0.10% December 31, 2005
AIM Small Cap Growth Fund
Institutional Class 0.10% December 31, 2005
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