AMENDMENT NO. 5 TO MASTER INVESTMENT ADVISORY AGREEMENT
AMENDMENT NO. 5
TO
This Amendment dated as of December 1, 2011, amends the Master Investment Advisory Agreement
(the “Agreement”), dated June 1, 2000, between AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds), a
Delaware statutory trust, and Invesco Advisers, Inc., a Delaware corporation.
W I T N E S S E T H:
WHEREAS, the Trust desires to amend the Agreement to remove the following series portfolios:
Invesco Municipal Fund, Invesco Tax-Exempt Securities Fund, Invesco Xxx Xxxxxx California Insured
Tax Free Fund and Invesco Xxx Xxxxxx Insured Tax Free Income Fund;
NOW, THEREFORE, the parties agree that;
1. | Appendix A and Appendix B to the Agreement are hereby deleted in their entirety and replaced with the following: |
“APPENDIX A
FUNDS AND EFFECTIVE DATES
FUNDS AND EFFECTIVE DATES
Name of Fund | Effective Date of Advisory Agreement | |
Invesco High Income Municipal Fund
|
June 1, 2000 | |
Invesco Tax-Exempt Cash Fund
|
June 1, 2000 | |
Invesco Tax-Free Intermediate Fund
|
June 1, 2000 | |
Invesco Xxx Xxxxxx High Yield Municipal Fund
|
February 12, 2010 | |
Invesco Xxx Xxxxxx Intermediate Term Municipal Income Fund
|
February 12, 2010 | |
Invesco Xxx Xxxxxx Municipal Income Fund
|
February 12, 0000 | |
Xxxxxxx Xxx Xxxxxx Xxx Xxxx Tax Free Income Fund
|
February 12, 0000 |
XXXXXXXX X
COMPENSATION TO THE ADVISOR
COMPENSATION TO THE ADVISOR
The Trust shall pay the Adviser, out of the assets of a Fund, as full compensation for all
services rendered, an advisory fee for such Fund set forth below. Such fee shall be calculated by
applying the following annual rates to the average daily net assets of such Fund for the calendar
year computed in the manner used for the determination of the net asset value of shares of such
Fund.
Invesco Tax-Free Intermediate Fund
Net Assets | Annual Rate | |||
First $500 million |
0.30 | % | ||
Over $500 million to and including $1 billion |
0.25 | % | ||
Over $1 billion |
0.20 | % |
Invesco Tax-Exempt Cash Fund
Net Assets | Annual Rate | |||
All Assets |
0.35 | % |
Invesco High Income Municipal Fund
Net Assets | Annual Rate | |||
First $500 million |
0.60 | % | ||
Over $500 million to and including $1 billion |
0.55 | % | ||
Over $1 billion to and including $1.5 billion |
0.50 | % | ||
Over $1.5 billion |
0.45 | % |
Invesco Xxx Xxxxxx High Yield Municipal Fund
Net Assets | Annual Rate | |||
First $300 million |
0.60 | % | ||
Next $300 million |
0.55 | % | ||
Over $600 million |
0.50 | % |
Invesco Xxx Xxxxxx Intermediate Term Municipal Income Fund
Invesco Xxx Xxxxxx Municipal Income Fund
Invesco Xxx Xxxxxx Municipal Income Fund
2
Net Assets | Annual Rate | |||
First $500 million |
0.50 | % | ||
Over $500 million |
0.45 | % |
Invesco Xxx Xxxxxx New York Tax Free Income Fund
Net Assets | Annual Rate | |||
First $500 million |
0.47 | % | ||
Over $500 million |
0.445 | %” |
2. | In all other respects, the Agreement is hereby confirmed and remains in full force and effect. |
3
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their respective
officers on the date first written above.
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS) |
||||||||
Attest:
|
/s/ Xxxxx X. Xxxxxxxx | By: | /s/ Xxxx X. Xxxx | |||||
Assistant Secretary | Xxxx X. Xxxx Senior Vice President |
|||||||
(SEAL) |
||||||||
INVESCO ADVISERS, INC. | ||||||||
Attest:
|
/s/ Xxxxx X. Xxxxxxxx | By: | /s/ Xxxx X. Xxxx | |||||
Assistant Secretary | Xxxx X. Xxxx Senior Vice President |
|||||||
(SEAL) |
4