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
(Invesco Counselor Series Trust), AIM Equity Funds (Invesco Equity Funds), AIM
Funds Group (Invesco Funds Group), AIM Growth Series (Invesco Growth Series),
AIM International Mutual Funds (Invesco International Mutual Funds), AIM
Investment Funds (Invesco Investment Funds), AIM Investment Securities Funds
(Invesco Investment Securities Funds), AIM Sector Funds (Invesco Sector Funds),
AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds), AIM Variable Insurance Funds
(Invesco Variable Insurance Funds), Invesco California Municipal Income Trust,
Invesco California Municipal Securities, Invesco California Quality Municipal
Securities, Invesco High Yield Investments Fund, Inc., Invesco Municipal Income
Opportunities Trust, Invesco Municipal Income Opportunities Trust II, Invesco
Municipal Income Opportunities Trust III, Invesco Municipal Premium Income
Trust, Invesco New York Quality Municipal Securities, Invesco Quality Municipal
Income Trust, Invesco Quality Municipal Investment Trust, Invesco Quality
Municipal Securities, Invesco Value Municipal Bond Trust, Invesco Value
Municipal Income Trust, Invesco Value Municipal Securities, Invesco Value
Municipal Trust, 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 Advisers, Inc.
("Invesco"). Invesco 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 agree as follows:
For the Contractual Limits (listed in Exhibits A -- D), the Trusts and
Invesco agree until at least the expiration date set forth on the attached
Exhibits A -- D (the "Expiration Date") that Invesco 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 or non-routine items, including litigation expenses; and (v)
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 may terminate or modify this
Memorandum of Agreement prior to the Expiration Date only by mutual written
consent. Invesco will not have any right to reimbursement of any amount so
waived or reimbursed.
For the Contractual Limits, each of the Trusts and Invesco 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 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 agree that these are not contractual in nature and that Invesco 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 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 have entered into this
Memorandum of Agreement as of the Effective Dates on the attached Exhibits.
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
INVESCO CALIFORNIA MUNICIPAL INCOME TRUST
INVESCO CALIFORNIA MUNICIPAL SECURITIES
INVESCO CALIFORNIA QUALITY MUNICIPAL SECURITIES
INVESCO HIGH YIELD INVESTMENTS FUND, INC.
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST II
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST III
INVESCO MUNICIPAL PREMIUM INCOME TRUST
INVESCO NEW YORK QUALITY MUNICIPAL SECURITIES
INVESCO QUALITY MUNICIPAL INCOME TRUST
INVESCO QUALITY MUNICIPAL INVESTMENT TRUST
INVESCO QUALITY MUNICIPAL SECURITIES
INVESCO VALUE MUNICIPAL BOND TRUST
INVESCO VALUE MUNICIPAL INCOME TRUST
INVESCO VALUE MUNICIPAL SECURITIES
INVESCO VALUE MUNICIPAL TRUST
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 Advisers, Inc.
By: /s/ Xxxx X. Xxxx
--------------------------------
Title: Senior Vice President
2
as of April 30, 2012
EXHIBIT "A" -- RETAIL FUNDS(1)
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco California Tax-Free Income Fund
Class A Shares Contractual 0.85% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.35% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.35% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.60% February 12, 2010 June 30, 2012
Invesco Core Plus Bond Fund
Class A Shares Contractual 0.75% June 6, 2011 June 30, 2013
Class B Shares Contractual 1.50% June 6, 2011 June 30, 2013
Class C Shares Contractual 1.50% June 6, 2011 June 30, 2013
Class R Shares Contractual 1.00% June 6, 2011 June 30, 2013
Class Y Shares Contractual 0.50% June 6, 2011 June 30, 2013
Institutional Class Shares Contractual 0.50% June 6, 2011 June 30, 2013
Invesco Equally-Weighted S&P 500 Fund
Class A Shares Contractual 0.75% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.50% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.50% February 12, 2010 June 30, 2012
Class R Shares Contractual 1.00% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.50% February 12, 2010 June 30, 2012
Invesco Floating Rate Fund
Class A Shares Contractual 1.50% April 14, 2006 December 31, 2012
Class C Shares Contractual 2.00% April 14, 2006 December 31, 2012
Class R Shares Contractual 1.75% April 14, 2006 December 31, 2012
Class Y Shares Contractual 1.25% October 3, 2008 December 31, 2012
Institutional Class Shares Contractual 1.25% April 14, 2006 December 31, 2012
Invesco S&P 500 Index Fund
Class A Shares Contractual 0.65% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.40% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.40% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.40% February 12, 2010 June 30, 2012
Invesco Global Real Estate Income Fund
Class A Shares Contractual 2.00% July 1, 2009 December 31, 2012
Class B Shares Contractual 2.75% July 1, 2009 December 31, 2012
Class C Shares Contractual 2.75% July 1, 2009 December 31, 2012
Class Y Shares Contractual 1.75% July 1, 2009 December 31, 2012
Institutional Class Shares Contractual 1.75% July 1, 2009 December 31, 0000
Xxxxxxx X.X. Quantitative Core Fund
Class A Shares Contractual 1.00% July 1, 2009 June 30, 2012
Class B Shares Contractual 1.75% July 1, 2009 June 30, 2012
Class C Shares Contractual 1.75% July 1, 2009 June 30, 2012
Class R Shares Contractual 1.25% July 1, 2009 June 30, 2012
Class Y Shares Contractual 0.75% July 1, 2009 June 30, 2012
Investor Class Shares Contractual 1.00% July 1, 2009 June 30, 2012
Institutional Class Shares Contractual 0.75% July 1, 2009 June 30, 2012
Invesco Xxx Xxxxxx American Franchise Fund
Class A Shares Contractual 1.05% May 23, 2011 June 30, 2013
Class B Shares Contractual 1.22%(8) May 23, 2011 June 30, 2013
Class C Shares Contractual 1.80% May 23, 2011 June 30, 2013
Class R Shares Contractual 1.30% May 23, 2011 June 30, 2013
Class Y Shares Contractual 0.80% May 23, 2011 June 30, 2013
Institutional Class Shares Contractual 0.80% May 23, 2011 June 30, 2013
See page 14 for footnotes to Exhibit A.
3
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Xxx Xxxxxx Equity and Income Fund
Class A Shares Contractual 0.82% February 12, 2010 June 30, 2012
Class B Shares Contractual 0.95%(8) February 12, 2010 June 30, 2012
Class C Shares Contractual 1.57% February 12, 2010 June 30, 2012
Class R Shares Contractual 1.07% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.57% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 0.57% February 12, 2010 June 30, 2012
Invesco Xxx Xxxxxx Growth and Income Fund
Class A Shares Contractual 0.88% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.63% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.63% February 12, 2010 June 30, 2012
Class R Shares Contractual 1.13% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.63% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 0.63% February 12, 2010 June 30, 0000
Xxxxxxx Xxx Xxxxxx Xxxxxxxxxxxx Tax Free
Income Fund
Class A Shares Contractual 1.13% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.88% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.88% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.88% February 12, 2010 June 30, 2012
Invesco Xxx Xxxxxx Small Cap Growth Fund
Class A Shares Contractual 1.38% February 12, 2010 June 30, 2012
Class B Shares Contractual 2.13% February 12, 2010 June 30, 2012
Class C Shares Contractual 2.13% February 12, 2010 June 30, 2012
Class Y Shares Contractual 1.13% February 12, 2010 June 30, 2012
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Capital Development Fund
Class A Shares Contractual 2.00% July 1, 2009 February 28, 2013
Class B Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class C Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class R Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class Y Shares Contractual 1.75% July 1, 2009 February 28, 2013
Investor Class Shares Contractual 2.00% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 February 28, 2013
Invesco Charter Fund
Class A Shares Contractual 2.00% July 1, 2009 February 28, 2013
Class B Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class C Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class R Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class S Shares Contractual 1.90% September 25, 2009 February 28, 2013
Class Y Shares Contractual 1.75% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 February 28, 2013
Invesco Constellation Fund
Class A Shares Contractual 2.00% July 1, 2009 February 28, 2013
Class B Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class C Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class R Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class Y Shares Contractual 1.75% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 February 28, 2013
See page 14 for footnotes to Exhibit A.
4
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- --------------------
Invesco Disciplined Equity Fund
Class Y Shares Contractual 1.75% July 14, 2009 February 28, 2013
Invesco Diversified Dividend Fund
Class A Shares Contractual 0.95% July 18, 2011 June 30, 2013
Class B Shares Contractual 1.70% July 18, 2011 June 30, 2013
Class C Shares Contractual 1.70% July 18, 2011 June 30, 2013
Class R Shares Contractual 1.20% July 18, 2011 June 30, 2013
Class Y Shares Contractual 0.70% July 18, 2011 June 30, 2013
Investor Class Shares Contractual 0.95% July 18, 2011 June 30, 2013
Institutional Class Shares Contractual 0.70% July 18, 2011 June 30, 0000
Xxxxxxx Xxxxxx Fund
Class A Shares Contractual 2.00% July 1, 2009 February 28, 2013
Class B Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class C Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class P Shares Contractual 1.85% July 1, 2009 February 28, 2013
Class S Shares Contractual 1.90% September 25, 2009 February 28, 2013
Class Y Shares Contractual 1.75% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 February 28, 2013
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- --------------------
Invesco European Small Company Fund
Class A Shares Contractual 2.25% July 1, 2009 April 30, 2013
Class B Shares Contractual 3.00% July 1, 2009 April 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 April 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 April 30, 2013
Invesco Global Core Equity Fund
Class A Shares Contractual 1.25% May 23, 2011 June 30, 2013
Class B Shares Contractual 1.52%(8) May 23, 2011 June 30, 2013
Class C Shares Contractual 2.00% May 23, 2011 June 30, 2013
Class R Shares Contractual 1.50% May 23, 2011 June 30, 2013
Class Y Shares Contractual 1.00% May 23, 2011 June 30, 2013
Institutional Class Shares Contractual 1.00% May 23, 2011 June 30, 2013
Invesco International Small Company Fund
Class A Shares Contractual 2.25% July 1, 2009 April 30, 2013
Class B Shares Contractual 3.00% July 1, 2009 April 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 April 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 April 30, 2013
Institutional Class Shares Contractual 2.00% July 1, 2009 April 30, 2013
Invesco Small Cap Equity Fund
Class A Shares Contractual 2.00% July 1, 2009 April 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 April 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 April 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 April 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 April 30, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 April 30, 2013
See page 14 for footnotes to Exhibit A.
5
as of April 30, 2012
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Balanced-Risk Retirement 2020
Fund(2)
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2013
Class A5 Shares Contractual 0.25% February 12, 2010 April 30, 2013
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C5 Shares Contractual 1.00% February 12, 2010 April 30, 2013
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2013
Class R5 Shares Contractual 0.50% February 12, 2010 April 30, 2013
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2013
Institutional Class Shares Contractual 0.00% November 4, 2009 April 30, 2013
Invesco Balanced-Risk Retirement 2030
Fund(3)
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2013
Class A5 Shares Contractual 0.25% February 12, 2010 April 30, 2013
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C5 Shares Contractual 1.00% February 12, 2010 April 30, 2013
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2013
Class R5 Shares Contractual 0.50% February 12, 2010 April 30, 2013
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2013
Institutional Class Shares Contractual 0.00% November 4, 2009 April 30, 2013
Invesco Balanced-Risk Retirement 2040
Fund(4)
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2013
Class A5 Shares Contractual 0.25% February 12, 2010 April 30, 2013
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C5 Shares Contractual 1.00% February 12, 2010 April 30, 2013
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2013
Class R5 Shares Contractual 0.50% February 12, 2010 April 30, 2013
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2013
Institutional Class Shares Contractual 0.00% November 4, 2009 April 30, 2013
Invesco Balanced-Risk Retirement 2050
Fund(5)
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2013
Class A5 Shares Contractual 0.25% February 12, 2010 April 30, 2013
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C5 Shares Contractual 1.00% February 12, 2010 April 30, 2013
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2013
Class R5 Shares Contractual 0.50% February 12, 2010 April 30, 2013
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2013
Institutional Class Shares Contractual 0.00% November 4, 2009 April 30, 2013
Invesco Balanced-Risk Retirement Now
Fund(6)
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2013
Class A5 Shares Contractual 0.25% February 12, 2010 April 30, 2013
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2013
Class C5 Shares Contractual 1.00% February 12, 2010 April 30, 2013
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2013
Class R5 Shares Contractual 0.50% February 12, 2010 April 30, 2013
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2013
Institutional Class Shares Contractual 0.00% November 4, 2009 April 30, 2013
See page 14 for footnotes to Exhibit A.
6
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- --------------------
Invesco Convertible Securities Fund
Class A Shares Contractual 1.11% May 23, 2011 June 30, 2012
Class B Shares Contractual 1.86% May 23, 2011 June 30, 2012
Class C Shares Contractual 1.86% May 23, 2011 June 30, 2012
Class Y Shares Contractual 0.86% May 23, 2011 June 30, 2012
Institutional Class Shares Contractual 0.86% May 23, 2011 June 30, 2012
Invesco Global Quantitative Core Fund
Class A Shares Contractual 2.25% July 1, 2009 April 30, 2013
Class B Shares Contractual 3.00% July 1, 2009 April 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 April 30, 2013
Class R Shares Contractual 2.50% July 1, 2009 April 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 April 30, 2013
Institutional Class Shares Contractual 2.00% July 1, 2009 April 30, 2013
Invesco Growth Allocation Fund
Class A Shares Contractual 0.37% June 6, 2011 June 30, 2012
Class B Shares Contractual 1.12% June 6, 2011 June 30, 2012
Class C Shares Contractual 1.12% June 6, 2011 June 30, 2012
Class R Shares Contractual 0.62% June 6, 2011 June 30, 2012
Class S Shares Contractual 0.27% June 6, 2011 June 30, 2012
Class Y Shares Contractual 0.12% June 6, 2011 June 30, 2012
Institutional Class Shares Contractual 0.12% June 6, 2011 June 30, 2012
Invesco Income Allocation Fund
Class A Shares Contractual 0.25% May 1, 2012 April 30, 2013
Class B Shares Contractual 1.00% May 1, 2012 April 30, 2013
Class C Shares Contractual 1.00% May 1, 2012 April 30, 2013
Class R Shares Contractual 0.50% May 1, 2012 April 30, 2013
Class Y Shares Contractual 0.00% May 1, 2012 April 30, 2013
Institutional Class Shares Contractual 0.00% May 1, 2012 April 30, 2013
Invesco International Allocation Fund
Class A Shares Contractual 0.43% July 1, 2009 April 30, 2012
Class B Shares Contractual 1.18% July 1, 2009 April 30, 2012
Class C Shares Contractual 1.18% July 1, 2009 April 30, 2012
Class R Shares Contractual 0.68% July 1, 2009 April 30, 2012
Class Y Shares Contractual 0.18% July 1, 2009 April 30, 2012
Institutional Class Shares Contractual 0.18% July 1, 2009 April 30, 2012
Invesco Mid Cap Core Equity Fund
Class A Shares Contractual 2.00% July 1, 2009 April 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 April 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 April 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 April 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 April 30, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 April 30, 2013
Invesco Moderate Allocation Fund
Class A Shares Contractual 0.37% July 1, 2009 June 30, 2012
Class B Shares Contractual 1.12% July 1, 2009 June 30, 2012
Class C Shares Contractual 1.12% July 1, 2009 June 30, 2012
Class R Shares Contractual 0.62% July 1, 2009 June 30, 2012
Class S Shares Contractual 0.27% September 25, 2009 June 30, 2012
Class Y Shares Contractual 0.12% July 1, 2009 June 30, 2012
Institutional Class Shares Contractual 0.12% July 1, 2009 June 30, 2012
Invesco Conservative Allocation Fund
Class A Shares Contractual 0.39% July 1, 2009 June 30, 2012
Class B Shares Contractual 1.14% July 1, 2009 June 30, 2012
Class C Shares Contractual 1.14% July 1, 2009 June 30, 2012
Class R Shares Contractual 0.64% July 1, 2009 June 30, 2012
Class S Shares Contractual 0.29% June 6, 2011 June 30, 2012
Class Y Shares Contractual 0.14% July 1, 2009 June 30, 2012
Institutional Class Shares Contractual 0.14% July 1, 2009 June 30, 2012
See page 14 for footnotes to Exhibit A.
7
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Small Cap Growth Fund
Class A Shares Contractual 2.00% July 1, 2009 April 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 April 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 April 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 April 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 April 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2009 April 30, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 April 30, 2013
Invesco Xxx Xxxxxx Leaders Fund
Class A Shares Contractual 0.50% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.25% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.25% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.25% February 12, 2010 June 30, 2012
Invesco Xxx Xxxxxx U.S. Mortgage Fund
Class A Shares Contractual 0.96% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.71% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.71% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.71% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 0.71% February 12, 2010 June 30, 2012
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Asia Pacific Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class B Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class C Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class Y Shares Contractual 2.00% July 1, 2009 February 28, 2013
Invesco European Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class B Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class C Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class R Shares Contractual 2.50% July 1, 2009 February 28, 2013
Class Y Shares Contractual 2.00% July 1, 2009 February 28, 2013
Investor Class Shares Contractual 2.25% July 1, 2009 February 28, 2013
Invesco Global Growth Fund
Class A Shares Contractual 1.32% December 19, 2011 December 31, 2012
Class B Shares Contractual 2.07% December 19, 2011 December 31, 2012
Class C Shares Contractual 2.07% December 19, 2011 December 31, 2012
Class Y Shares Contractual 1.07% December 19, 2011 December 31, 2012
Institutional Class Shares Contractual 1.07% December 19, 2011 December 31, 2012
Invesco Global Small & Mid Cap Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class B Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class C Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class Y Shares Contractual 2.00% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 2.00% July 1, 2009 February 28, 2013
Invesco International Core Equity Fund
Class A Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class B Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class C Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class R Shares Contractual 2.50% July 1, 2009 February 28, 2013
Class Y Shares Contractual 2.00% July 1, 2009 February 28, 2013
Investor Class Shares Contractual 2.25% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 2.00% July 1, 2009 February 28, 2013
See page 14 for footnotes to Exhibit A.
8
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco International Growth Fund
Class A Shares Contractual 1.40% May 23, 2011 June 30, 2013
Class B Shares Contractual 2.15% May 23, 2011 June 30, 2013
Class C Shares Contractual 2.15% May 23, 2011 June 30, 2013
Class R Shares Contractual 1.65% May 23, 2011 June 30, 2013
Class Y Shares Contractual 1.15% May 23, 2011 June 30, 2013
Institutional Class Shares Contractual 1.15% May 23, 2011 June 30, 2013
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Balanced-Risk Allocation Fund(7)
Class A Shares Contractual 1.04% November 4, 2009 February 28, 2012
Class B Shares Contractual 1.79% November 4, 2009 February 28, 2012
Class C Shares Contractual 1.79% November 4, 2009 February 28, 2012
Class R Shares Contractual 1.29% November 4, 2009 February 28, 2012
Class Y Shares Contractual 0.79% November 4, 2009 February 28, 2012
Institutional Class Shares Contractual 0.79% November 4, 2009 February 28, 2012
Invesco Balanced-Risk Commodity Strategy
Fund(10)
Class A Shares Contractual 1.22% November 29, 2010 February 28, 2013
Class B Shares Contractual 1.97% November 29, 2010 February 28, 2013
Class C Shares Contractual 1.97% November 29, 2010 February 28, 2013
Class R Shares Contractual 1.47% November 29, 2010 February 28, 2013
Class Y Shares Contractual 0.97% November 29, 2010 February 28, 2013
Institutional Class Shares Contractual 0.97% November 29, 2010 February 28, 2013
Invesco China Fund
Class A Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class B Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class C Shares Contractual 3.00% July 1, 2009 February 28, 2013
Class Y Shares Contractual 2.00% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 2.00% July 1, 2009 February 28, 2013
Invesco Commodities Strategy Fund(11)
Class A Shares Contractual 1.25% February 12, 2010 June 30, 2012
Class B Shares Contractual 2.00% February 12, 2010 June 30, 2012
Class C Shares Contractual 2.00% February 12, 2010 June 30, 2012
Class R Shares Contractual 1.50% February 12, 2010 June 30, 2012
Class Y Shares Contractual 1.00% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 1.00% February 12, 2010 June 30, 2012
Invesco Developing Markets Fund
Class A Shares Contractual 2.10% May 23, 2011 June 30, 2012
Class B Shares Contractual 2.85% May 23, 2011 June 30, 2012
Class C Shares Contractual 2.85% May 23, 2011 June 30, 2012
Class Y Shares Contractual 1.85% May 23, 2011 June 30, 2012
Institutional Class Shares Contractual 1.85% May 23, 2011 June 30, 2012
Invesco Emerging Markets Equity Fund
Class A Shares Contractual 1.85% May 11, 2011 February 28, 2013
Class C Shares Contractual 2.60% May 11, 2011 February 28, 2013
Class R Shares Contractual 2.10% May 11, 2011 February 28, 2013
Class Y Shares Contractual 1.60% May 11, 2011 February 28, 2013
Institutional Class Shares Contractual 1.60% May 11, 2011 February 28, 2013
Invesco Emerging Market Local Currency
Debt Fund
Class A Shares Contractual 1.24% June 14, 2010 February 28, 2013
Class B Shares Contractual 1.99% June 14, 2010 February 28, 2013
Class C Shares Contractual 1.99% June 14, 2010 February 28, 2013
Class R Shares Contractual 1.49% June 14, 2010 February 28, 2013
Class Y Shares Contractual 0.99% June 14, 2010 February 28, 2013
Institutional Class Shares Contractual 0.99% June 14, 2010 February 28, 2013
See page 14 for footnotes to Exhibit A.
9
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Endeavor Fund
Class A Shares Contractual 2.00% July 1, 2009 February 28, 2013
Class B Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class C Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class R Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class Y Shares Contractual 1.75% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 February 28, 2013
Invesco Global Health Care Fund
Class A Shares Contractual 1.65% May 23, 2011 June 30, 2012
Class B Shares Contractual 2.40% May 23, 2011 June 30, 2012
Class C Shares Contractual 2.40% May 23, 2011 June 30, 2012
Class Y Shares Contractual 1.40% May 23, 2011 June 30, 2012
Investor Class Shares Contractual 1.65% May 23, 2011 June 30, 2012
Invesco International Total Return Fund
Class A Shares Contractual 1.10% March 31, 2006 February 28, 2013
Class B Shares Contractual 1.85% March 31, 2006 February 28, 2013
Class C Shares Contractual 1.85% March 31, 2006 February 28, 2013
Class Y Shares Contractual 0.85% October 3, 2008 February 28, 2013
Institutional Class Shares Contractual 0.85% March 31, 2006 February 28, 2013
Invesco Pacific Growth Fund
Class A Shares Contractual 1.88% February 12, 2010 June 30, 2012
Class B Shares Contractual 2.63% February 12, 2010 June 30, 2012
Class C Shares Contractual 2.63% February 12, 2010 June 30, 2012
Class R Shares Contractual 2.13% February 12, 2010 June 30, 2012
Class Y Shares Contractual 1.63% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 1.63% May 23, 2011 June 30, 2012
Invesco Premium Income Fund
Class A Shares Contractual 0.89% December 13, 2011 February 28, 2013
Class C Shares Contractual 1.64% December 13, 2011 February 28, 2013
Class R Shares Contractual 1.14% December 13, 2011 February 28, 2013
Class Y Shares Contractual 0.64% December 13, 2011 February 28, 2013
Institutional Class Shares Contractual 0.64% December 13, 2011 February 28, 2013
Invesco Small Companies Fund
Class A Shares Contractual 2.00% July 1, 2009 February 28, 2013
Class B Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class C Shares Contractual 2.75% July 1, 2009 February 28, 2013
Class R Shares Contractual 2.25% July 1, 2009 February 28, 2013
Class Y Shares Contractual 1.75% July 1, 2009 February 28, 2013
Institutional Class Shares Contractual 1.75% July 1, 2009 February 28, 2013
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Dynamics Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2012
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2012
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2012
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2012
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2012
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2012
Institutional Class Shares Contractual 1.75% July 1, 2009 June 30, 2012
Invesco Global Real Estate Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2012
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2012
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2012
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2012
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2012
Institutional Class Shares Contractual 1.75% July 1, 2009 June 30, 2012
See page 14 for footnotes to Exhibit A.
10
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco High Yield Fund
Class A Shares Contractual 0.89% June 6, 2011 June 30, 2013
Class B Shares Contractual 1.64% June 6, 2011 June 30, 2013
Class C Shares Contractual 1.64% June 6, 2011 June 30, 2013
Class Y Shares Contractual 0.64% June 6, 2011 June 30, 2013
Investor Class Shares Contractual 0.89% June 6, 2011 June 30, 2013
Institutional Class Shares Contractual 0.64% June 6, 2011 June 30, 2013
Invesco High Yield Securities Fund
Class A Shares Contractual 2.13% February 12, 2010 June 30, 2012
Class B Shares Contractual 2.63% February 12, 2010 June 30, 2012
Class C Shares Contractual 2.73% February 12, 2010 June 30, 2012
Class Y Shares Contractual 1.88% February 12, 2010 June 30, 2012
Invesco Municipal Bond Fund
Class A Shares Contractual 0.70% July 1, 2011 June 30, 2012
Class B Shares Contractual 1.45% July 1, 2011 June 30, 2012
Class C Shares Contractual 1.45% July 1, 2011 June 30, 2012
Class Y Shares Contractual 0.45% July 1, 2011 June 30, 2012
Investor Class Shares Contractual 0.70% July 1, 2011 June 30, 2012
Invesco Real Estate Fund
Class A Shares Contractual 1.55% May 23, 2011 June 30, 2012
Class B Shares Contractual 2.30% May 23, 2011 June 30, 2012
Class C Shares Contractual 2.30% May 23, 2011 June 30, 2012
Class R Shares Contractual 1.80% May 23, 2011 June 30, 2012
Class Y Shares Contractual 1.30% May 23, 2011 June 30, 2012
Investor Class Shares Contractual 1.55% May 23, 2011 June 30, 2012
Institutional Class Shares Contractual 1.30% May 23, 2011 June 30, 2012
Invesco Short Term Bond Fund
Class A Shares Contractual 0.56% June 6, 2011 June 30, 2013
Class C Shares Contractual 0.91%(8) March 4, 2009 June 30, 2013
Class R Shares Contractual 0.91% March 4, 2009 June 30, 2013
Class Y Shares Contractual 0.41% March 4, 2009 June 30, 2013
Institutional Class Shares Contractual 0.41% March 4, 2009 June 30, 0000
Xxxxxxx X.X. Government Fund
Class A Shares Contractual 1.03% June 6, 2011 June 30, 2012
Class B Shares Contractual 1.78% June 6, 2011 June 30, 2012
Class C Shares Contractual 1.78% June 6, 2011 June 30, 2012
Class R Shares Contractual 1.28% June 6, 2011 June 30, 2012
Class Y Shares Contractual 0.78% June 6, 2011 June 30, 2012
Investor Class Shares Contractual 1.03% June 6, 2011 June 30, 2012
Institutional Class Shares Contractual 0.78% June 6, 3011 June 30, 2012
Invesco Xxx Xxxxxx Corporate Bond Fund
Class A Shares Contractual 0.95% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.29%(8) June 6, 2011 June 30, 2012
Class C Shares Contractual 1.65%(8) June 6, 2011 June 30, 2012
Class R Shares Contractual 1.20% June 6, 2011 June 30, 2012
Class Y Shares Contractual 0.70% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 0.70% February 12, 2010 June 30, 2012
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Energy Fund
Class A Shares Contractual 2.00% July 1, 2009 August 31, 2012
Class B Shares Contractual 2.75% July 1, 2009 August 31, 2012
Class C Shares Contractual 2.75% July 1, 2009 August 31, 2012
Class Y Shares Contractual 1.75% July 1, 2009 August 31, 2012
Investor Class Shares Contractual 2.00% July 1, 2009 August 31, 2012
Institutional Class Shares Contractual 1.75% July 1, 2009 August 31, 2012
See page 14 for footnotes to Exhibit A.
11
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Gold & Precious Metals Fund
Class A Shares Contractual 2.00% July 1, 2009 August 31, 2012
Class B Shares Contractual 2.75% July 1, 2009 August 31, 2012
Class C Shares Contractual 2.75% July 1, 2009 August 31, 2012
Class Y Shares Contractual 1.75% July 1, 2009 August 31, 2012
Investor Class Shares Contractual 2.00% July 1, 2009 August 31, 2012
Invesco Leisure Fund
Class A Shares Contractual 2.00% July 1, 2009 August 31, 2012
Class B Shares Contractual 2.75% July 1, 2009 August 31, 2012
Class C Shares Contractual 2.75% July 1, 2009 August 31, 2012
Class R Shares Contractual 2.25% July 1, 2009 August 31, 2012
Class Y Shares Contractual 1.75% July 1, 2009 August 31, 2012
Investor Class Shares Contractual 2.00% July 1, 2009 August 31, 2012
Invesco Technology Fund
Class A Shares Contractual 1.76% May 23, 2011 June 30, 2012
Class B Shares Contractual 2.51% May 23, 2011 June 30, 2012
Class C Shares Contractual 2.51% May 23, 2011 June 30, 2012
Class Y Shares Contractual 1.51% May 23, 2011 June 30, 2012
Investor Class Shares Contractual 1.76% May 23, 2011 June 30, 2012
Institutional Class Shares Contractual 1.51% May 23, 2011 June 30, 2012
Invesco Technology Sector Fund
Class A Shares Contractual 2.00% February 12, 2010 June 30, 2012
Class B Shares Contractual 2.75% February 12, 2010 June 30, 2012
Class C Shares Contractual 2.75% February 12, 2010 June 30, 2012
Class Y Shares Contractual 1.75% February 12, 2010 June 30, 2012
Invesco Utilities Fund
Class A Shares Contractual 1.32% May 23, 2011 June 30, 2013
Class B Shares Contractual 2.07% May 23, 2011 June 30, 2013
Class C Shares Contractual 2.07% May 23, 2011 June 30, 2013
Class Y Shares Contractual 1.07% May 23, 2011 June 30, 2013
Investor Class Shares Contractual 1.32% May 23, 2011 June 30, 2013
Institutional Class Shares Contractual 1.07% May 23, 2011 June 30, 2013
Invesco Xxx Xxxxxx American Value Fund
Class A Shares Contractual 1.41% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.65%(8) May 23, 2011 June 30, 2012
Class C Shares Contractual 2.16% February 12, 2010 June 30, 2012
Class R Shares Contractual 1.66% February 12, 2010 June 30, 2012
Class Y Shares Contractual 1.16% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 1.16% February 12, 2010 June 30, 2012
Invesco Xxx Xxxxxx Xxxxxxxx Fund
Class A Shares Contractual 0.89% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.64% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.64% February 12, 2010 June 30, 2012
Class R Shares Contractual 1.14% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.64% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 0.64% February 12, 2010 June 30, 2012
Invesco Xxx Xxxxxx Mid Cap Growth Fund
Class A Shares Contractual 1.40% February 12, 2010 June 30, 2012
Class B Shares Contractual 2.15% February 12, 2010 June 30, 2012
Class C Shares Contractual 2.15% February 12, 2010 June 30, 2012
Class R Shares Contractual 1.65% February 12, 2010 June 30, 2012
Class Y Shares Contractual 1.15% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 1.15% February 12, 2010 June 30, 2012
See page 14 for footnotes to Exhibit A.
12
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Xxx Xxxxxx Small Cap Value Fund
Class A Shares Contractual 1.03% May 23, 2011 June 30, 2012
Class B Shares Contractual 1.40%(8) May 23, 2011 June 30, 2012
Class C Shares Contractual 1.78% May 23, 2011 June 30, 2012
Class Y Shares Contractual 0.78% May 23, 2011 June 30, 2012
Xxx Xxxxxx Value Opportunities Fund
Class A Shares Contractual 1.41% February 12, 2010 June 30, 2012
Class B Shares Contractual 2.16% February 12, 2010 June 30, 2012
Class C Shares Contractual 2.16% February 12, 2010 June 30, 2012
Class R Shares Contractual 1.66% May 23, 2011 June 30, 2012
Class Y Shares Contractual 1.16% February 12, 2010 June 30, 2012
Institutional Class Shares Contractual 1.16% May 23, 2011 June 30, 2012
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------------- -------------------
Invesco Xxx Xxxxxx High Yield Municipal
Fund
Class A Shares Contractual 0.87% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.62% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.62% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.62% February 12, 2010 June 30, 2012
Invesco Xxx Xxxxxx Intermediate Term
Municipal Income Fund
Class A Shares Contractual 0.75% June 6, 2011 June 30, 2013
Class B Shares Contractual 1.50% June 6, 2011 June 30, 2013
Class C Shares Contractual 1.50% June 6, 2011 June 30, 2013
Class Y Shares Contractual 0.50% June 6, 2011 June 30, 2013
Invesco Xxx Xxxxxx Municipal Income Fund
Class A Shares Contractual 0.83% June 6, 2011 June 30, 2013
Class B Shares Contractual 1.58% June 6, 2011 June 30, 2013
Class C Shares Contractual 1.58% June 6, 2011 June 30, 2013
Class Y Shares Contractual 0.58% June 6, 2011 June 30, 0000
Xxxxxxx Xxx Xxxxxx Xxx Xxxx Tax Free
Income Fund
Class A Shares Contractual 0.78% February 12, 2010 June 30, 2012
Class B Shares Contractual 1.53% February 12, 2010 June 30, 2012
Class C Shares Contractual 1.53% February 12, 2010 June 30, 2012
Class Y Shares Contractual 0.53% February 12, 2010 June 30, 2012
----------
(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) Following the reorganization with Xxx Xxxxxx 2020 Retirement Strategy and
Xxx Xxxxxx 2025 Retirement Strategy, the Fund's contractual limit through
at least June 30, 2012 (excluding only items included in "notwithstanding"
sentence discussed above) will be 0.41%, 1.16%, 0.66% and 0.16% for Class
A5, C5, R5 and Y, respectively.
(3) Following the reorganization with Xxx Xxxxxx 00 Xxxxxxxxxx Xxxxxxxx and
Xxx Xxxxxx 2035 Retirement Strategy, the Fund's contractual limit through
at least June 30, 2012 (excluding only items included in "notwithstanding"
sentence discussed above) will be 0.29%, 1.04%, 0.54% and 0.04% for Class
A5, C5, R5 and Y, respectively.
(4) Following the reorganization with Xxx Xxxxxx 2040 Retirement Strategy and
Xxx Xxxxxx 2045 Retirement Strategy, the Fund's contractual limit through
at least June 30, 2012 (excluding only items included in "notwithstanding"
sentence discussed above) will be 0.28%, 1.03%, 0.53% and 0.03% for Class
A5, C5, R5 and Y, respectively.
(5) Following the reorganization with Xxx Xxxxxx 50 Retirement Strategy, the
Fund's contractual limit through at least June 30, 2012 (excluding only
items included in "notwithstanding" sentence discussed above) will be
0.26%, 1.01%, 0.51% and 0.01% for Class A5, C5, R5 and Y, respectively.
13
as of April 30, 2012
(6) Following the reorganization with Xxx Xxxxxx In Retirement, the Fund's
contractual limit through at least June 30, 2012 (excluding only items
included in "notwithstanding" sentence discussed above) will be 0.47%,
1.22%, 0.72% and 0.22% for Class A5, C5, R5 and Y, respectively.
(7) Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund I, Ltd.
(8) The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by Invesco Distributors, Inc.
(9) Invesco may establish, amend or terminate voluntary waivers at any time in
its sole discretion after consultation with the Trust.
(10) Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund III, Ltd.
(11) Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund II, Ltd.
14
as of April 30, 2012
EXHIBIT "B" -- INSTITUTIONAL MONEY MARKET FUNDS(1,2)
SHORT-TERM INVESTMENTS TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ------------------- -----------------
Government & Agency Portfolio
Cash Management Class Contractual 0.22%(2) July 1, 2009 December 31, 2012
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2012
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2012
Personal Investment Class Contractual 0.69%(2) July 1, 2009 December 31, 2012
Private Investment Class Contractual 0.44%(2) July 1, 2009 December 31, 2012
Reserve Class Contractual 1.01%(2) July 1, 2009 December 31, 2012
Resource Class Contractual 0.30%(2) July 1, 2009 December 31, 2012
Government TaxAdvantage Portfolio
Cash Management Class Contractual 0.22%(2) July 1, 2009 December 31, 2012
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2012
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2012
Personal Investment Class Contractual 0.69%(2) July 1, 2009 December 31, 2012
Private Investment Class Contractual 0.39%(2) July 1, 2009 December 31, 2012
Reserve Class Contractual 1.01%(2) July 1, 2009 December 31, 2012
Resource Class Contractual 0.30%(2) July 1, 2009 December 31, 2012
Liquid Assets Portfolio
Cash Management Class Contractual 0.22%(2) July 1, 2009 December 31, 2012
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2012
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2012
Personal Investment Class Contractual 0.69%(2) July 1, 2009 December 31, 2012
Private Investment Class Contractual 0.44%(2) July 1, 2009 December 31, 2012
Reserve Class Contractual 1.01%(2) July 1, 2009 December 31, 2012
Resource Class Contractual 0.34% July 1, 2009 December 31, 2012
STIC Prime Portfolio
Cash Management Class Contractual 0.22%(2) July 1, 2009 December 31, 2012
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2012
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2012
Personal Investment Class Contractual 0.69%(2) July 1, 2009 December 31, 2012
Private Investment Class Contractual 0.44%(2) July 1, 2009 December 31, 2012
Reserve Class Contractual 1.01%(2) July 1, 2009 December 31, 2012
Resource Class Contractual 0.30%(2) July 1, 2009 December 31, 2012
Tax-Free Cash Reserve Portfolio(3)
Cash Management Class Contractual 0.33%(2) July 1, 2009 December 31, 2012
Corporate Class Contractual 0.28% July 1, 2009 December 31, 2012
Institutional Class Contractual 0.25% July 1, 2009 December 31, 2012
Personal Investment Class Contractual 0.80%(2) July 1, 2009 December 31, 2012
Private Investment Class Contractual 0.50%(2) July 1, 2009 December 31, 2012
Reserve Class Contractual 1.12%(2) July 1, 2009 December 31, 2012
Resource Class Contractual 0.41%(2) July 1, 2009 December 31, 2012
Treasury Portfolio
Cash Management Class Contractual 0.22%(2) July 1, 2009 December 31, 2012
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2012
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2012
Personal Investment Class Contractual 0.69%(2) July 1, 2009 December 31, 2012
Private Investment Class Contractual 0.44%(2) July 1, 2009 December 31, 2012
Reserve Class Contractual 1.01%(2) July 1, 2009 December 31, 2012
Resource Class Contractual 0.30%(2) July 1, 2009 December 31, 2012
----------
(1) 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.
(2) The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by Invesco Distributors, Inc.
(3) The expense limitation also excludes Trustees' fees and federal
registration expenses.
15
as of April 30, 2012
EXHIBIT "C" -- VARIABLE INSURANCE FUNDS
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------- ------------ ---------- ------------------- -------------------
Invesco V.I. Balanced-Risk Allocation
Fund(1)
Series I Shares Contractual 0.72% January 1, 2012 June 30, 2013
Series II Shares Contractual 0.97% January 1, 2012 June 30, 2013
Invesco V.I. Core Equity Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2013
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2013
Invesco V.I. Diversified Dividend Fund
Series I Shares Contractual 0.77% July 1, 2012 April 30, 2013
Series II Shares Contractual 1.02% July 1, 2012 April 30, 2013
Invesco V.I. Diversified Income Fund
Series I Shares Contractual 0.75% July 1, 2005 April 30, 2013
Series II Shares Contractual 1.00% July 1, 2005 April 30, 2013
Invesco V.I. Equally-Weighted S&P 500 Fund
Series I Shares Contractual 0.37% February 12, 2010 June 30, 2012
Series II Shares Contractual 0.62% February 12, 2010 June 30, 2012
Invesco V.I. Global Health Care Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2013
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2013
Invesco V.I. Global Real Estate Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2013
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2013
Invesco V.I. Government Securities Fund
Series I Shares Contractual 0.70% July 1, 2012 April 30, 2013
Series II Shares Contractual 0.95% July 1, 2012 April 30, 2013
Invesco V.I. High Yield Fund
Series I Shares Contractual 0.80% May 2, 2011 June 30, 2013
Series II Shares Contractual 1.05% May 2, 2011 June 30, 2013
Invesco V.I. High Yield Securities Fund
Series I Shares Contractual 1.75% February 12, 2010 June 30, 2012
Series II Shares Contractual 2.00% February 12, 2010 June 30, 2012
----------
(1) Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund IV, Ltd.
16
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------- ------------ ---------- ------------------- -------------------
Invesco V.I. International Growth Fund
Series I Shares Contractual 1.11% May 2, 2011 June 30, 2012
Series II Shares Contractual 1.36% May 2, 2011 June 30, 2012
Invesco V.I. Mid Cap Core Equity Fund
Series I Shares Contractual 1.30% September 10, 2001 April 30, 2013
Series II Shares Contractual 1.45% September 10, 2001 April 30, 2013
Invesco V.I. Money Market Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2013
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2013
Invesco V.I. S&P 500 Index Fund
Series I Shares Contractual 0.28% February 12, 2010 June 30, 2012
Series II Shares Contractual 0.53% February 12, 2010 June 30, 2012
Invesco V.I. Small Cap Equity Fund
Series I Shares Contractual 1.15% July 1, 2005 April 30, 2013
Series II Shares Contractual 1.40% July 1, 2005 April 30, 2013
Invesco V.I. Technology Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2013
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2013
Invesco V.I. Utilities Fund
Series I Shares Contractual 0.93% September 23, 2005 April 30, 2012
Series II Shares Contractual 1.18% September 23, 2005 April 30, 2012
Invesco Xxx Xxxxxx V.I. Capital Growth Fund
Series I Share Contractual 0.94% July 1, 2012 April 30, 2013
Series II Shares Contractual 1.19% July 1, 2012 April 30, 2013
Invesco Xxx Xxxxxx V.I. Xxxxxxxx Fund
Series I Shares Contractual 0.72% July 1, 2012 April 30, 2013
Series II Shares Contractual 0.97% July 1, 2012 April 30, 2013
Invesco Xxx Xxxxxx V.I. Equity and Income
Fund
Series I Shares Contractual 0.70% February 12, 2010 June 30, 2012
Series II Shares Contractual 0.75%(2) February 12, 2010 June 30, 2012
Invesco V.I. Global Core Equity Fund
Series I Shares Contractual 0.94% May 2, 2011 June 30, 2012
Series II Shares Contractual 1.19% May 2, 2011 June 30, 2012
17
as of April 30, 2012
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------- ------------ ---------- ------------------- -------------------
Invesco Xxx Xxxxxx V.I. Growth and Income
Fund
Series I Shares Contractual 0.72% July 1, 2012 April 30, 2013
Series II Shares Contractual 0.97% July 1, 2012 April 30, 2013
Invesco Xxx Xxxxxx V.I. Mid Cap Growth Fund
Series I Shares Contractual 1.01% February 12, 2010 June 30, 2012
Series II Shares Contractual 1.26% February 12, 2010 June 30, 2012
Invesco Xxx Xxxxxx V.I. Mid Cap Value Fund
Series I Shares Contractual 1.18% February 12, 2010 June 30, 2012
Series II Shares Contractual 1.28%(2) February 12, 2010 June 30, 2012
Invesco Xxx Xxxxxx V.I. Value Opportunities
Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2013
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2013
----------
(2) The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by Invesco Distributors, Inc.
18
as of April 30, 2012
EXHIBIT "D" -- CLOSED-END FUNDS(1)
INVESCO CALIFORNIA MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco California Municipal Income Trust Contractual 0.67% June 1, 2010 June 30, 0000
XXXXXXX XXXXXXXXXX MUNICIPAL SECURITIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco California Municipal Securities Contractual 0.70% June 1, 2010 June 30, 0000
XXXXXXX XXXXXXXXXX QUALITY MUNICIPAL SECURITIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco California Quality Municipal
Securities Contractual 0.70% June 1, 2010 June 30, 2012
INVESCO HIGH YIELD INVESTMENTS FUND, INC.
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco High Yield Investments Fund, Inc. Contractual 0.98% June 1, 2010 June 30, 2012
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Municipal Income Opportunities
Trust Contractual 0.73% June 1, 2010 June 30, 2012
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST II
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Municipal Income Opportunities
Trust II Contractual 0.73% June 1, 2010 June 30, 2012
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST III
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Municipal Income Opportunities
Trust III Contractual 0.84% June 1, 2010 June 30, 2012
19
as of April 30, 2012
INVESCO MUNICIPAL PREMIUM INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Municipal Premium Income Trust Contractual 1.03% June 1, 2010 June 30, 2012
INVESCO NEW YORK QUALITY MUNICIPAL SECURITIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco New York Quality Municipal
Securities Contractual 0.80% June 1, 2010 June 30, 2012
INVESCO QUALITY MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Quality Municipal Income Trust Contractual 0.70% June 1, 2010 June 30, 2012
INVESCO QUALITY MUNICIPAL INVESTMENT TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Quality Municipal Investment Trust Contractual 0.70% June 1, 2010 June 30, 2012
INVESCO QUALITY MUNICIPAL SECURITIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Quality Municipal Securities Contractual 0.66% June 1, 2010 June 30, 2012
INVESCO VALUE MUNICIPAL BOND TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Value Municipal Bond Trust Contractual 1.00% June 1, 2010 June 30, 2012
INVESCO VALUE MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Value Municipal Income Trust Contractual 0.64% June 1, 2010 June 30, 2012
20
as of April 30, 2012
INVESCO VALUE MUNICIPAL SECURITIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Value Municipal Securities Contractual 0.54% June 1, 2010 June 30, 2012
INVESCO VALUE MUNICIPAL TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
------------------------------------------ ------------ ---------- ----------------- -------------
Invesco Value Municipal Trust Contractual 0.66% June 1, 2010 June 30, 2012
----------------
(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.
21
