AMENDMENT NO. 23 TO THIRD AMENDED AND RESTATED MASTER ADMINISTRATIVE SERVICES AGREEMENT

AMENDMENT NO. 23

TO

THIRD AMENDED AND RESTATED MASTER ADMINISTRATIVE SERVICES AGREEMENT

This Amendment (the “Amendment”) effective April 30, 2020, amends the Third Amended and Restated Master Administrative Services Agreement (the “Agreement”), dated July 1, 2006, by and between Invesco Advisers, Inc., a Delaware corporation, and AIM Variable Insurance Funds (Invesco Variable Insurance Funds), a Delaware statutory trust, is hereby amended as follows:

W I T N E S S E T H:

WHEREAS, the parties agree to amend the Agreement to remove Invesco V.I. Mid Cap Growth Fund;

NOW THEREFORE, the parties agree that:

1. Appendix A of the Agreement is hereby deleted in its entirety and replaced with the following:

“APPENDIX A TO

THIRD AMENDED AND RESTATED

MASTER ADMINISTRATIVE SERVICES AGREEMENT OF

AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

Portfolios		Effective Date of Agreement
Invesco Oppenheimer V.I. Capital Appreciation Fund		May 24, 2019
Invesco Oppenheimer V.I. Conservative Balanced Fund		May 24, 2019
Invesco Oppenheimer V.I. Discovery Mid Cap Growth Fund		May 24, 2019
Invesco Oppenheimer V.I. Global Fund		May 24, 2019
Invesco Oppenheimer V.I. Global Strategic Income Fund		May 24, 2019
Invesco Oppenheimer V.I. Government Money Fund		May 24, 2019
Invesco Oppenheimer V.I. International Growth Fund		May 24, 2019
Invesco Oppenheimer V.I. Main Street Fund®		May 24, 2019
Invesco Oppenheimer V.I. Main Street Small Cap Fund®		May 24, 2019
Invesco Oppenheimer V.I. Total Return Bond Fund		May 24, 2019
Invesco V.I. American Franchise Fund		February 12, 2010
Invesco V.I. American Value Fund		February 12, 2010
Invesco V.I. Balanced-Risk Allocation Fund		January 7, 2011
Invesco V.I. Xxxxxxxx Fund		February 12, 2010
Invesco V.I. Core Equity Fund		May 1, 2000
Invesco V.I. Core Plus Bond Fund		May 1, 2000
Invesco V.I. Diversified Dividend Fund		February 12, 2010
Invesco V.I. Equally-Weighted S&P 500 Fund		February 12, 2010
Invesco V.I. Equity and Income Fund		February 12, 2010
Invesco V.I. Global Core Equity Fund		February 12, 2010
Invesco V.I. Global Real Estate Fund		April 30, 2004
Invesco V.I. Government Money Market Fund		May 1, 2000

Invesco V.I. Government Securities Fund		May 1, 2000
Invesco V.I. Growth and Income Fund		February 12, 2010
Invesco V.I. Health Care Fund		April 30, 2004
Invesco V.I. High Yield Fund		May 1, 2000
Invesco V.I. International Growth Fund		May 1, 2000
Invesco V.I. Mid Cap Core Equity Fund		September 10, 2001
Invesco V.I. Managed Volatility Fund		April 30, 2004
Invesco V.I. S&P 500 Index Fund		February 12, 2010
Invesco V.I. Small Cap Equity Fund		September 1, 2003
Invesco V.I. Technology Fund		April 30, 2004
Invesco V.I. Value Opportunities Fund		September 10, 2001

The Administrator may receive from each Portfolio reimbursement for costs or reasonable compensation for such services as follows:

Rate*		Invesco Fund Complex Net Assets**
0.0175%		First $100 billion
0.0150%		Next $100 billion
0.0135%		Next $100 billion
0.0125%		Next $100 billion
0.010%		Over $400 billion

* The fee will be paid monthly at 1/12 of the annualized effective fee rate based on the average assets under management of the Invesco Fund Complex Net Assets of the prior month not to exceed 0.0140% through June 30, 2019.

** Invesco Fund Complex Net Assets means the aggregate monthly net assets of each mutual fund and closed-end fund in the Invesco Fund complex overseen by the Invesco Funds Board.

*** For the additional administrative services that the Administrator provides or ensures that the Insurance Company or Qualified Plan (that has entered into a Participation Agreement with AIM Variable Insurance Funds (Invesco Variable Insurance Funds)) provides, the Portfolios shall pay Invesco Advisers, Inc., on a quarterly basis, up to an annual rate of ..15% of the average net asset value of each portfolio not to exceed the Administrator’s cost. To the extent that the Administrator’s cost exceeds .15%, such excess amount shall be borne by the Administrator and the Administrator will not seek reimbursement at a later time for such excess amounts on services previously rendered if the Administrator’s cost is later reduced to an amount below .15%.”

In addition to the rate described above, Invesco V.I. Government Money Market Fund and Invesco Oppenheimer V.I. Government Money Fund shall also pay the Administrator 0.03% for the provision of the Money Market Fund Administrative Services.

2. All other terms and provisions of the Agreement not amended herein shall remain in full force and effect.

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers on the date first written above.

								INVESCO ADVISERS, INC.
Attest:						By:
		Assistant Secretary						Xxxxxxx X. Xxxxx
								Senior Vice President & Secretary
								AIM VARIABLE INSURANCE FUNDS
								(INVESCO VARIABLE INSURANCE FUNDS)
Attest:						By:
		Assistant Secretary						Xxxxxxx X. Xxxxx
								Secretary, Senior Vice President and Chief Legal Officer

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective officers on the date first written above.

								INVESCO ADVISERS, INC.
Attest:						By:
		Assistant Secretary						Xxxxxxx X. Xxxxx
								Senior Vice President & Secretary
								AIM VARIABLE INSURANCE FUNDS
								(INVESCO VARIABLE INSURANCE FUNDS)
Attest:						By:
		Assistant Secretary						Xxxxxxx X. Xxxxx
								Secretary, Senior Vice President and Chief Legal Officer

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