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 Funds Group, AIM Growth Series, AIM International Mutual
Funds, AIM Investment Funds, AIM Investment Securities Funds, AIM Sector Funds,
AIM Stock Funds, AIM Variable Insurance Funds, Short-Term Investments Trust and
Tax-Free 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 A I M Advisors, Inc. ("AIM"). This Memorandum of Agreement
restates the Memorandum of Agreement dated April 1, 2006 between AIM Counselor
Series Trust, AIM Equity Funds, AIM Funds Group, AIM Growth Series, AIM
International Mutual Funds, AIM Investment Funds, AIM Investment Securities
Funds, AIM Sector Funds, AIM Stock Funds, AIM Variable Insurance Funds,
Short-Term Investments Trust and Tax-Free Investments Trust. 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 AIM agree as follows:
For the Contractual Limits (listed in Exhibits A - E), the Trusts and
AIM agree until at least the date set forth on the attached Exhibits A - E (the
"Expiration Date") that 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' Board of
Trustees; and (vi) 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. With regard to the Contractual Limits, 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.
For the Contractual Limits, each of the Trusts and 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 Trust and AIM have agreed to
continue them. The Exhibits will be amended to reflect any such agreement.
For the Voluntary Limits (listed in Exhibits A - E), the Trusts and AIM
agree that these are not contractual in nature and that AIM may establish, amend
and/or terminate such expense limitations at any time in its sole discretion
after consultation with the Funds' Board of Trustees. Any delay or failure by
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.
1
IN WITNESS WHEREOF, each of the Trusts and AIM have entered into this
Memorandum of Agreement as of the Effective Date on the attached Exhibits.
AIM COUNSELOR SERIES TRUST
AIM EQUITY FUNDS AIM FUNDS
GROUP AIM GROWTH SERIES AIM
INVESTMENT FUNDS AIM
INVESTMENT SECURITIES FUNDS
AIM SECTOR FUNDS AIM STOCK
FUNDS AIM TAX-EXEMPT FUNDS
AIM VARIABLE INSURANCE
FUNDS SHORT-TERM
INVESTMENTS TRUST TAX-FREE
INVESTMENTS TRUST on behalf
of the Funds listed in the
Exhibits to this Memorandum
of Agreement
By: /s/ Xxxxxx X. Xxxxxx
-----------------------------------
Title: President
-----------------------------------
A I M Advisors, Inc.
By: /s/ Xxxxxx X. Xxxxxx
-----------------------------------
Title: President
-----------------------------------
2
as of July 1, 2006
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 Energy Fund
Class A Shares Voluntary 1.55% July 1, 2005 N/A(2)
Class B Shares Voluntary 2.30% August 12, 2003 N/A(2)
Class C Shares Voluntary 2.30% August 12, 2003 N/A(2)
Investor Class Shares Voluntary 1.55% April 1, 2005 N/A(2)
Institutional Class Shares Voluntary 1.30% January 31, 2006 N/A(2)
AIM Financial Services Fund
Class A Shares Voluntary 1.30% July 1, 2005 N/A(2)
Class B Shares Voluntary 2.05% August 12, 2003 N/A(2)
Class C Shares Voluntary 2.05% April 1, 2005 N/A(2)
Investor Class Shares Voluntary 1.30% April 1, 2005 N/A(2)
AIM Leisure Fund
Class A Shares Voluntary 1.40% July 1, 2005 N/A(2)
Class B Shares Voluntary 2.15% August 12, 2003 N/A(2)
Class C Shares Voluntary 2.15% April 1, 2005 N/A(2)
Class R Shares Voluntary 1.65% October 25, 2005 N/A(2)
Investor Class Shares Voluntary 1.40% April 1, 2005 N/A(2)
AIM Technology Fund
Class A Shares Contractual 1.55% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.30% July 1, 2005 June 30, 2007
Class C Shares Contractual 2.30% July 1, 2005 June 30, 2007
Investor Class Shares Contractual 1.55% July 1, 2005 June 30, 2007
Institutional Class Shares Contractual 1.30% July 1, 2005 June 30, 2007
AIM Utilities Fund
Class A Shares Contractual 1.30% April 1, 2006 June 30, 2007
Class B Shares Contractual 2.05% April 1, 2006 June 30, 2007
Class C Shares Contractual 2.05% April 1, 2006 June 30, 2007
Investor Class Shares Contractual 1.30% April 1, 2006 June 30, 2007
Institutional Class Shares Contractual 1.05% April 1, 2006 June 30, 2007
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 0.65% April 1, 2006 N/A(2)
Class B Shares Voluntary 1.40% April 1, 2006 N/A(2)
Class C Shares Voluntary 1.40% April 1, 2006 N/A(2)
See page 9 for footnotes to Exhibit A.
3
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 Global Real Estate Fund
Class A Shares Contractual 1.40% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.15% April 29, 2005 June 30, 2007
Class C Shares Contractual 2.15% April 29, 2005 June 30, 2007
Class R Shares Contractual 1.65% April 29, 2005 June 30, 2007
Institutional Class Shares Contractual 1.15% April 29, 2005 June 30, 2007
AIM Short Term Bond Fund
Class A Shares Contractual 0.85% July 1, 2005 June 30, 2007
Class C Shares Contractual 1.10%3 February 1, 2006 June 30, 2007
Class R Shares Contractual 1.10% August 30, 2002 June 30, 2007
Institutional Class Shares Contractual 0.60% August 30, 2002 June 30, 2007
AIM Total Return Bond Fund
Class A Shares Contractual 1.15% July 1, 2005 June 30, 2007
Class B Shares Contractual 1.90% July 1, 2002 June 30, 2007
Class C Shares Contractual 1.90% July 1, 2002 June 30, 2007
Class R Shares Contractual 1.40% July 1, 2002 June 30, 2007
Institutional Class Shares Contractual 0.90% July 1, 2002 June 30, 2007
AIM Total Return Bond Fund
Class A Shares Voluntary 1.00% July 1, 2002 N/A(2)
Class B Shares Voluntary 1.75% July 1, 2002 N/A(2)
Class C Shares Voluntary 1.75% July 1, 2002 N/A(2)
Class R Shares Voluntary 1.25% April 30, 2004 N/A(2)
Institutional Class Shares Voluntary 0.75% April 30, 2004 N/A(2)
AIM STOCK FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM Dynamics Fund
Class A Shares Contractual 1.90% July 1, 2005 July 31, 2006
Class B Shares Contractual 2.65% August 12, 2003 July 31, 2006
Class C Shares Contractual 2.65% August 12, 2003 July 31, 2006
Class R Shares Contractual 2.15% October 25, 2005 July 31, 2006
Investor Class Shares Contractual 1.90% August 12, 2003 July 31, 2006
Institutional Class Shares Contractual 1.65% August 12, 2003 July 31, 2006
AIM Dynamics Fund
Class A Shares Voluntary 1.20% July 1, 2005 N/A(2)
Class B Shares Voluntary 1.95% August 12, 2003 N/A(2)
Class C Shares Voluntary 1.95% August 12, 2003 N/A(2)
Class R Shares Voluntary 1.45% October 25, 2005 N/A(2)
Investor Class Shares Voluntary 1.20% August 12, 2003 N/A(2)
Institutional Class Shares Voluntary 0.95% August 12, 2003 N/A(2)
AIM S&P 500 Index Fund
Investor Class Shares Contractual 0.60% August 1, 2005 June 30, 2007
Institutional Class Shares Contractual 0.35% August 12, 2003 June 30, 2007
See page 9 for footnotes to Exhibit A.
4
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 Voluntary 1.50% April 14, 2006 N/A(2)
Class B1 Shares Voluntary 1.50% May 1, 1997 N/A(2)
Class C Shares Voluntary 2.00% April 14, 2006 N/A(2)
Class R Shares Voluntary 1.75% April 14, 2006 N/A(2)
Institutional Class Shares Voluntary 1.25% April 14, 2006 N/A(2)
AIM Multi-Sector Fund
Class A Shares Contractual 1.90% July 1, 2005 August 31, 2006
Class B Shares Contractual 2.65% August 12, 2003 August 31, 2006
Class C Shares Contractual 2.65% August 12, 2003 August 31, 2006
Institutional Class Shares Contractual 1.65% August 12, 2003 August 31, 2006
AIM Structured Core Fund
Class A Contractual 1.00% March 31, 2006 June 30, 2007
Class B Contractual 1.75% March 31, 2006 June 30, 2007
Class C Contractual 1.75% March 31, 2006 June 30, 2007
Class R Contractual 1.25% March 31, 2006 June 30, 2007
Institutional Class Contractual 0.75% March 31, 2006 June 30, 2007
AIM Structured Growth Fund
Class A Contractual 1.00% March 31, 2006 June 30, 2007
Class B Contractual 1.75% March 31, 2006 June 30, 2007
Class C Contractual 1.75% March 31, 2006 June 30, 2007
Class R Contractual 1.25% March 31, 2006 June 30, 2007
Institutional Class Contractual 0.75% March 31, 2006 June 30, 2007
AIM Structured Value Fund
Class A Contractual 1.00% March 31, 2006 June 30, 2007
Class B Contractual 1.75% March 31, 2006 June 30, 2007
Class C Contractual 1.75% March 31, 2006 June 30, 2007
Class R Contractual 1.25% March 31, 2006 June 30, 2007
Institutional Class Contractual 0.75% March 31, 2006 June 30, 2007
FUNDS WITH FISCAL YEAR END OF OCTOBER 31
AIM EQUITY FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM Capital Development Fund
Class A Shares Voluntary 1.55% July 18, 2005 N/A(2)
Class B Shares Voluntary 2.30% July 18, 2005 N/A(2)
Class C Shares Voluntary 2.30% July 18, 2005 N/A(2)
Class R Shares Voluntary 1.80% July 18, 2005 N/A(2)
Investor Class Shares Voluntary 1.55% July 18, 2005 N/A(2)
Institutional Class Shares Voluntary 1.30% July 18, 2005 N/A(2)
AIM Diversified Dividend Fund
Class A Shares Contractual 1.40% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.15% May 2, 2003 June 30, 2007
Class C Shares Contractual 2.15% May 2, 2003 June 30, 2007
Class R Shares Contractual 1.65% October 25, 2005 June 30, 2007
Investor Class Shares Contractual 1.40% July 15, 2005 June 30, 2007
Institutional Class Shares Contractual 1.15% October 25, 2005 June 30, 2007
See page 9 for footnotes to Exhibit A.
5
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM Diversified Dividend Fund Voluntary 1.00% May 2, 2003 N/A(2)
Class A Shares Voluntary 1.65% May 2, 2003 N/A(2)
Class B Shares Voluntary 1.65% May 2, 2003 N/A(2)
Class C Shares Voluntary 1.25% October 25, 2005 N/A(2)
Class R Shares Voluntary 1.00% July 15, 2005 N/A(2)
Investor Class Shares Voluntary 0.75% October 25, 2005 N/A(2)
Institutional Class Shares
AIM Large Cap Basic Value Fund
Class A Shares Contractual 1.22% July 1, 2005 June 30, 2007
Class B Shares Contractual 1.97% July 1, 2005 June 30, 2007
Class C Shares Contractual 1.97% July 1, 2005 June 30, 2007
Class R Shares Contractual 1.47% July 1, 2005 June 30, 2007
Investor Class Shares Contractual 1.22% July 1, 2005 June 30, 2007
Institutional Class Shares Contractual 0.97% July 1, 2005 June 30, 2007
AIM Large Cap Growth Fund
Class A Shares Contractual 1.32% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.07% July 1, 2005 June 30, 2007
Class C Shares Contractual 2.07% July 1, 2005 June 30, 2007
Class R Shares Contractual 1.57% July 1, 2005 June 30, 2007
Investor Class Shares Contractual 1.32% July 1, 2005 June 30, 2007
Institutional Class Shares Contractual 1.07% July 1, 2005 June 30, 2007
AIM Select Basic Value Fund
Class A Shares Voluntary 1.75%3 August 30, 2002 N/A(2)
Class B Shares Voluntary 1.75%3 August 30, 2002 N/A(2)
Class C Shares Voluntary 1.75%3 August 30, 2002 N/A(2)
AIM INTERNATIONAL MUTUAL FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM International Core Equity Fund
Class A Shares Contractual 2.00% July 1, 2005 October 31, 2006
Class B Shares Contractual 2.75% August 12, 2003 October 31, 2006
Class C Shares Contractual 2.75% August 12, 2003 October 31, 2006
Class R Shares Contractual 2.25% November 24, 2003 October 31, 2006
Investor Class Shares Contractual 2.00% August 12, 2003 October 31, 2006
Institutional Class Shares Contractual 1.75% April 30, 2004 October 31, 2006
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, 2007
Class B Shares Contractual 2.80% March 31, 2006 June 30, 2007
Class C Shares Contractual 2.80% March 31, 2006 June 30, 2007
Institutional Class Shares Contractual 1.80% March 31, 2006 June 30, 2007
See page 9 for footnotes to Exhibit A.
6
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM Developing Markets Fund Contractual 1.75% July 1, 2005 June 30, 2007
Class A Shares Contractual 2.50% July 1, 2002 June 30, 2007
Class B Shares Contractual 2.50% July 1, 2002 June 30, 2007
Class C Shares Contractual 1.50% October 25, 2005 June 30, 2007
Institutional Class Shares
AIM Enhanced Short Bond Fund
Class A Shares Contractual 0.85% March 31, 2006 June 30, 2007
Class C Shares Contractual 1.10%3 March 31, 2006 June 30, 2007
Class R Shares Contractual 1.10% March 31, 2006 June 30, 2007
Institutional Class Shares Contractual 0.60% March 31, 2006 June 30, 2007
AIM Global Health Care Fund
Class A Shares Voluntary 1.30% July 18, 2005 N/A(2)
Class B Shares Voluntary 2.05% July 18, 2005 N/A(2)
Class C Shares Voluntary 2.05% July 18, 2005 N/A(2)
Investor Class Shares Voluntary 1.30% July 18, 2005 N/A(2)
AIM International Bond Fund
Class A Shares Contractual 1.10% March 31, 2006 June 30, 2007
Class B Shares Contractual 1.85% March 31, 2006 June 30, 2007
Class C Shares Contractual 1.85% March 31, 2006 June 30, 2007
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, 2007
Class B Shares Contractual 2.45% March 31, 2006 June 30, 2007
Class C Shares Contractual 2.45% March 31, 2006 June 30, 2007
Institutional Class Shares Contractual 1.45% March 31, 2006 June 30, 2007
AIM Trimark Endeavor Fund
Class A Shares Contractual 1.90% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.65% November 1, 2004 June 30, 2007
Class C Shares Contractual 2.65% November 1, 2004 June 30, 2007
Class R Shares Contractual 2.15% November 1, 2004 June 30, 2007
Institutional Class Shares Contractual 1.65% November 1, 2004 June 30, 2007
AIM Trimark Fund
Class A Shares Contractual 2.15% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.90% November 1, 2004 June 30, 2007
Class C Shares Contractual 2.90% November 1, 2004 June 30, 2007
Class R Shares Contractual 2.40% November 1, 2004 June 30, 2007
Institutional Class Shares Contractual 1.90% November 1, 2004 June 30, 2007
AIM Trimark Small Companies Fund
Class A Shares Contractual 1.50% September 30, 2005 June 30, 2007
Class B Shares Contractual 2.25% September 30, 2005 June 30, 2007
Class C Shares Contractual 2.25% September 30, 2005 June 30, 2007
Class R Shares Contractual 1.75% September 30, 2005 June 30, 2007
Institutional Class Shares Contractual 1.25% September 30, 2005 June 30, 2007
See page 9 for footnotes to Exhibit A.
7
FUNDS WITH FISCAL YEAR END OF DECEMBER 31
AIM FUNDS GROUP
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM Basic Balanced Fund
Class A Shares Voluntary 1.25% July 18, 2005 N/A(2)
Class B Shares Voluntary 2.00% July 18, 2005 N/A(2)
Class C Shares Voluntary 2.00% July 18, 2005 N/A(2)
Class R. Shares Voluntary 1.50% July 18, 2005 N/A(2)
Investor Class Shares Voluntary 1.25% July 18, 2005 N/A(2)
Institutional Class Shares Voluntary 1.00% July 18, 2005 N/A(2)
AIM European Small Company Fund
Class A Shares Contractual 1.90% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.65% May 1, 2002 June 30, 2007
Class C Shares Contractual 2.65% May 1, 2002 June 30, 2007
AIM Global Value Fund
Class A Shares Contractual 1.90% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.65% May 1, 2002 June 30, 2007
Class C Shares Contractual 2.65% May 1, 2002 June 30, 2007
Institutional Class Shares Contractual 1.65% May 1, 2002 June 30, 2007
AIM International Small Company Fund
Class A Shares
Class B Shares Contractual 1.90% July 1, 2005 December 31, 2006
Class C Shares Contractual 2.65% May 1, 2002 December 31, 2006
Institutional Class Shares Contractual 2.65% May 1, 2002 December 31, 2006
Contractual 1.65% May 1, 2002 December 31, 2006
AIM Mid Cap Basic Value Fund
Class A Shares Voluntary 1.70% July 1, 2005 N/A(2)
Class B Shares Voluntary 2.45% December 31, 2001 N/A(2)
Class C Shares Voluntary 2.45% December 31, 2001 N/A(2)
Class R Shares Voluntary 1.95% December 31, 2001 N/A(2)
Institutional Class Shares Voluntary 1.45% December 31, 2001 N/A(2)
AIM GROWTH SERIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM Small Cap Growth Fund
Class A Shares Contractual 1.90% April 10, 2006 July 31, 2006
Class B Shares Contractual 2.65% April 10, 2006 July 31, 2006
Class C Shares Contractual 2.65% April 10, 2006 July 31, 2006
Class R Shares Contractual 2.15% April 10, 2006 July 31, 2006
Investor Class Shares Contractual 1.90% April 10, 2006 July 31, 2006
Institutional Class Shares Contractual 1.65% April 10, 2006 July 31, 2006
AIM Small Cap Growth Fund
Class A Shares Voluntary 1.50% April 10, 2006 N/A(2)
Class B Shares Voluntary 2.25% April 10, 2006 N/A(2)
Class C Shares Voluntary 2.25% April 10, 2006 N/A(2)
Class R Shares Voluntary 1.75% April 10, 2006 N/A(2)
Investor Class Shares Voluntary 1.50% April 10, 2006 N/A(2)
Institutional Class Shares Voluntary 1.25% April 10, 2006 N/A(2)
See page 9 for footnotes to Exhibit A.
8
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM Global Equity Fund
Class A Shares Contractual 1.75% July 1, 2005 June 30, 2007
Class B Shares Contractual 2.50% August 27, 1999 June 30, 2007
Class C Shares Contractual 2.50% August 27, 1999 June 30, 2007
Class R Shares Contractual 2.00% August 27, 1999 June 30, 2007
Institutional Class Shares Contractual 1.50% August 27, 1999 June 30, 2007
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 A I M Distributors, Inc.
9
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, 2007
0.23% of average daily net
assets
Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.23% of average daily net
assets
Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.23% of average daily net
assets
Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.23% of average daily net
assets
Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.23% of average daily net
assets
AIM Growth Allocation Fund
Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.21% of average daily net
assets
Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.21% of average daily net
assets
Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.21% of average daily net
assets
Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.21% of average daily net
assets
Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.21% of average daily net
assets
AIM Income Allocation Fund
Class A Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.03% of average daily net
assets
Class B Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.03% of average daily net
assets
Class C Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.03% of average daily net
assets
Class R Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.03% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.03% of average daily net
assets
See page 12 for footnotes to Exhibit B.
10
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, 2007
0.18% of average daily net
assets
Class B Contractual Limit Other Expenses to October 31, 2005 June 30, 2007
0.18% of average daily net
assets
Class C Contractual Limit Other Expenses to October 31, 2005 June 30, 2007
0.18% of average daily net
assets
Class R Contractual Limit Other Expenses to October 31, 2005 June 30, 2007
0.18% of average daily net
assets
Institutional Class Contractual Limit Other Expenses to October 31, 2005 June 30, 2007
0.18% of average daily net
assets
AIM Moderate Allocation Fund
Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.12% of average daily net
assets
Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.12% of average daily net
assets
Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.12% of average daily net
assets
Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
0.12% of average daily net
assets
Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2007
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, 2007
0.12% of average daily net
Class B Shares assets
Contractual Limit Other Expenses to April 29, 2005 June 30, 2007
0.12% of average daily net
Class C Shares assets
Contractual Limit Other Expenses to April 29, 2005 June 30, 2007
0.12% of average daily net
Class R Shares assets
Contractual Limit Other Expenses to April 29, 2005 June 30, 2007
0.12% of average daily net
Institutional Class Shares assets
Contractual Limit Other Expenses to April 29, 2005 June 30, 2007
0.12% of average daily net
assets
See page 12 for footnotes to Exhibit B.
11
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, 2007
0.14% of average daily net
assets
Class B Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2007
0.14% of average daily net
assets
Class C Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2007
0.14% of average daily net
assets
Class R Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2007
0.14% of average daily net
assets
Institutional Class Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2007
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.
12
EXHIBIT "C" - INSTITUTIONAL MONEY MARKET FUNDS(1,2)
FUNDS WITH FISCAL YEAR END OF MARCH 31
TAX-FREE INVESTMENTS TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
Tax-Free Cash Reserve Portfolio3
Cash Management Class Contractual 0.22% June 30, 2005 June 30, 2007
Corporate Class Contractual 0.22% June 30, 2005 June 30, 2007
Institutional Class Contractual 0.22% June 30, 2005 June 30, 2007
Personal Investment Class Contractual 0.22% June 30, 2005 June 30, 2007
Private Investment Class Contractual 0.22% June 30, 2005 June 30, 2007
Reserve Class Contractual 0.22% June 30, 2005 June 30, 2007
Resource Class Contractual 0.22% June 30, 2005 June 30, 2007
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, 2007
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2007
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2007
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2007
Resource Class Contractual 0.12% June 30, 2005 June 30, 2007
Government TaxAdvantage Portfolio
Cash Management Class
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2007
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2007
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2007
Resource Class Contractual 0.12% June 30, 2005 June 30, 2007
Contractual 0.12% June 30, 2005 June 30, 2007
Liquid Assets Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2007
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2007
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2007
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2007
Resource Class Contractual 0.12% June 30, 2005 June 30, 2007
See page 14 for footnotes to Exhibit C.
13
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
STIC Prime Portfolio Contractual 0.12% June 30, 2005 June 30, 2007
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2007
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2007
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2007
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2007
Resource Class
Treasury Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2007
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2007
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2007
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2007
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2007
Resource Class Contractual 0.12% June 30, 2005 June 30, 2007
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.
14
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, 2008
Series II Shares Contractual 1.16% July 1, 2005 April 30, 2008
AIM V.I. Basic Value Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2008
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2008
AIM V.I. Capital Appreciation Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2008
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2008
AIM V.I. Capital Development Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2008
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2008
AIM V.I. Core Equity Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2008
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2008
AIM V.I. Demographic Trends Fund
Series I Shares Contractual 1.01% July 1, 2005 April 30, 2008
Series II Shares Contractual 1.26% July 1, 2005 April 30, 2008
AIM V.I. Diversified Dividend Fund
Series I Shares Contractual 1.00% May 1, 2006 April 30, 2008
Series II Shares Contractual 1.25% May 1, 2006 April 30, 2008
AIM V.I. Diversified Income Fund
Series I Shares Contractual 0.75% July 1, 2005 April 30, 2008
Series II Shares Contractual 1.00% July 1, 2005 April 30, 2008
AIM V.I. Dynamics Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2008
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2008
AIM V.I. Financial Services Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2008
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2008
AIM V.I. Global Equity Fund
Series I Shares Contractual 1.10% May 1, 2006 April 30, 2008
Series II Shares Contractual 1.35% May 1, 2006 April 30, 2008
AIM V.I. Global Health Care Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2008
See page 17 for footnotes to Exhibit D.
15
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2008
AIM V.I. Government Securities Fund
Series I Shares
Contractual 0.73% July 1, 2005 April 30, 2008
Series II Shares Contractual 0.98% July 1, 2005 April 30, 2008
AIM V.I. High Yield Fund
Series I Shares Contractual 0.95% July 1, 2005 April 30, 2008
Series II Shares Contractual 1.20% April 30, 2004 April 30, 2008
AIM V.I. International Core Equity
Fund
Series I Shares Contractual 1.10% May 1, 2006 April 30, 2008
Series II Shares Contractual 1.35% May 1, 2006 April 30, 2008
AIM V.I. International Growth Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2008
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2008
AIM V.I. Large Cap Growth Fund
Series I Shares Contractual 1.01% July 1, 2005 April 30, 2008
Series II Shares Contractual 1.26% July 1, 2005 April 30, 2008
AIM V.I. Leisure Fund
Series I Shares Contractual 1.01% April 30, 2004 April 30, 2008
Series II Shares Contractual 1.26% April 30, 2004 April 30, 2008
AIM V.I. Mid Cap Core Equity Fund
Series I Shares Contractual 1.30% September 10, 2001 April 30, 2008
Series II Shares Contractual 1.45% September 10, 2001 April 30, 2008
AIM V.I. Money Market Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2008
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2008
AIM V.I. Real Estate Fund1
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2008
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2008
AIM V.I. Small Cap Equity Fund
Series I Shares Contractual 1.15% July 1, 2005 April 30, 2008
Series II Shares Contractual 1.40% July 1, 2005 April 30, 2008
AIM V.I. Small Company Growth Fund2
Series I Shares
Contractual 1.20% July 1, 2005 April 30, 2008
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2008
See page 17 for footnotes to Exhibit D.
16
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- --------- ---------- ------------- ----------
AIM V.I. Technology Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2008
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2008
AIM V.I. Utilities Fund
Series I Shares Contractual 0.93% September 23, 2005 April 30, 2008
Series II Shares Contractual 1.18% September 23, 2005 April 30, 2008
1 AIM V.I. Real Estate Fund is scheduled to change its name to AIM V.I. Global Real Estate Fund on July 3, 2006.
2 AIM V.I. Small Company Growth Fund is scheduled to change its name to AIM V.I. Small Cap Growth Fund on July 3,
2006.
17
