Sub-Item 77Q1(e)
MEMORANDUM OF AGREEMENT
(ADVISORY FEE WAIVERS)
This Memorandum of Agreement is entered into as of the effective date on the
attached Exhibit A and B (each an "Exhibit" or, collectively 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 Treasurer's Series Trust (Invesco Treasurer's Series Trust), AIM
Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco Municipal
Income Opportunities Trust, Invesco Securities Trust, Invesco, Invesco Quality
Municipal Income Trust and Invesco Value Municipal Income 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 of the Funds, on
behalf of their respective classes as applicable, severally and not jointly, as
indicated in the 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, Invesco agrees that until at least the expiration date
set forth on Exhibit A (the "Expiration Date") and with respect to those Funds
listed on the Exhibit, Invesco will waive its advisory fees at the rate set
forth on the Exhibit.
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:
1. Invesco agrees that until the expiration date, if any, of the commitment
set forth on the attached Exhibit B occurs, as such Exhibit B is amended
from time to time, Invesco will waive advisory fees payable by an
Investing Fund (defined below) in an amount equal to 100% of the net
advisory fee Invesco receives on the Uninvested Cash (defined below)
from the Affiliated Money Market Fund (defined below) in which the
Investing Fund invests (the "Waiver").
i. Invesco's Fund Accounting Group will calculate, and apply, the
Waiver monthly, based upon the average investment of Uninvested
Cash made by the Investing Fund during the previous month in an
Affiliated Money Market Fund.
ii. The Waiver will not apply to those Investing Funds that do not
charge an advisory fee, either due to the terms of their advisory
agreement, or as a result of contractual or voluntary fee waivers.
iii. The Waiver will not apply to cash collateral for securities lending.
For purposes of the paragraph above, the following terms shall have the
following meanings:
(a) "Affiliated Money Market Fund"--any existing or future Trust that
holds itself out as a money market fund and complies with Rule 2a-7
under the Investment Company Act of 1940, as amended;
(b) "Investing Fund" - any Fund investing Cash Balances and/or Cash
Collateral in an Affiliated Money Market Fund; and
(c) "Uninvested Cash"--cash available and uninvested by a Trust that
may result from a variety of sources, including dividends or
interest received on portfolio securities, unsettled securities
transactions, strategic reserves, matured investments, proceeds
from liquidation of investment securities, dividend payments, or
new investor capital.
2. Neither a Trust nor Invesco may remove or amend the Waiver to a Trust's
detriment prior to the Expiration Date without requesting and receiving
the approval of the Board of
Trustee of the applicable Fund's Trust to remove or amend such Waiver.
Invesco will not have any right to reimbursement of any amount so waived.
The Boards of Trustees 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.
Subject to the foregoing paragraphs, Invesco agrees to review the
then-current waivers for each class of the Funds listed on the Exhibits on a
date prior to the Expiration Date to determine whether such waivers should be
amended, continued or terminated. The waivers will expire upon the Expiration
Date unless Invesco has agreed to continue them. The Exhibits will be amended
to reflect any such agreement.
It is expressly agreed that the obligations of the Trusts 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 the Funds, 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 each Trust, and this
Memorandum of Agreement has been executed and delivered by an authorized
officer of each Trust acting as such; neither such authorization by such
Trustees nor such execution and delivery by such officer shall be deemed to
have been made by any of them individually or to impose any liability on any of
them personally, but shall bind only the assets and property of the Funds, as
provided in each Trust's Agreement and Declaration of Trust.
IN WITNESS WHEREOF, each of the Trusts, on behalf of itself and its Funds
listed in Exhibit A and B to this Memorandum of Agreement, and Invesco have
entered into this Memorandum of Agreement as of the Effective Date 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 TREASURER'S SERIES TRUST (INVESCO TREASURER'S SERIES TRUST)
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST
INVESCO QUALITY MUNICIPAL INCOME TRUST
INVESCO SECURITIES TRUST
INVESCO VALUE MUNICIPAL INCOME TRUST
on behalf of the Funds listed in the Exhibit
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
EXHIBIT A TO ADVISORY FEE MOA
AIM COUNSELOR WAIVER DESCRIPTION EFFECTIVE DATE EXPIRATION
SERIES TRUST DATE
(INVESCO COUNSELOR
SERIES TRUST)
Invesco Strategic Real Return Fund Invesco will waive advisory fees in an amount equal to the
advisory fees earned on underlying affiliated investments 4/30/2014 04/30/2015
AIM INVESTMENT WAIVER DESCRIPTION EFFECTIVE DATE EXPIRATION
FUNDS (INVESCO DATE
INVESTMENT FUNDS
Invesco Global Targeted Returns Fund Invesco will waive advisory fees in an amount equal to the
advisory fees earned on underlying affiliated investments 12/17/2013 12/31/2015
Invesco Strategic Income Fund Invesco will waive advisory fees in an amount equal to the
advisory fees earned on underlying affiliated investments 5/2/2014 05/31/2015
AIM TREASURER'S WAIVER DESCRIPTION EFFECTIVE DATE EXPIRATION
SERIES TRUST DATE
(INVESCO TREASURER'S
SERIES TRUST)
Premier Portfolio Invesco will waive advisory fees in the amount of 0.07% of
the Fund's average daily net assets 2/1/2011 12/31/2014
Premier U.S. Government Money Invesco will waive advisory fees in the amount of 0.07% of
Portfolio the Fund's average daily net assets 2/1/2011 12/31/2014
EXHIBIT "B"
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
PORTFOLIO EFFECTIVE DATE COMMITTED UNTIL
--------- ----------------- -----------------
Invesco American Franchise Fund February 12, 2010 December 31, 0000
Xxxxxxx Xxxxxxxxxx Tax-Free Income Fund February 12, 2010 December 31, 2014
Invesco Core Plus Bond Fund June 2, 2009 December 31, 2014
Invesco Equally-Weighted S&P 500 Fund February 12, 2010 December 31, 2014
Invesco Equity and Income Fund February 12, 2010 December 31, 2014
Invesco Floating Rate Fund July 1, 2007 December 31, 2014
Invesco Global Real Estate Income Fund July 1, 2007 December 31, 2014
Invesco Growth and Income Fund February 12, 2010 December 31, 2014
Invesco Low Volatility Equity Yield Fund July 1, 2007 December 31, 0000
Xxxxxxx Xxxxxxxxxxxx Tax Free Income Fund February 12, 2010 December 31, 2014
Invesco S&P 500 Index Fund February 12, 2010 December 31, 2014
Invesco Small Cap Discovery Fund February 12, 2010 December 31, 2014
Invesco Strategic Real Return Fund April 30, 2014 April 30, 2015
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
PORTFOLIO EFFECTIVE DATE COMMITTED UNTIL
--------- -------------- -----------------
Invesco Charter Fund July 1, 2007 February 28, 2015
Invesco Diversified Dividend Fund July 1, 2007 February 28, 0000
Xxxxxxx Xxxxxx Fund July 1, 2007 February 28, 2015
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- -------------- ---------------
Invesco European Small Company Fund July 1, 2007 April 30, 2015
Invesco Global Core Equity Fund July 1, 2007 April 30, 2015
Invesco International Small Company Fund July 1, 2007 April 30, 2015
Invesco Small Cap Equity Fund July 1, 2007 April 30, 2015
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco Convertible Securities Fund February 12, 2010 April 30, 2015
Invesco Global Low Volatility Equity Yield Fund July 1, 2007 April 30, 2015
Invesco Mid Cap Core Equity Fund July 1, 2007 April 30, 2015
Invesco Multi-Asset Inflation Fund April 30, 2014 April 30, 2015
Invesco Small Cap Growth Fund July 1, 2007 April 30, 0000
Xxxxxxx X.X. Mortgage Fund February 12, 2010 April 30, 2015
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- -------------- -----------------
Invesco Asia Pacific Growth Fund July 1, 2007 February 28, 2015
Invesco European Growth Fund July 1, 2007 February 28, 2015
Invesco Global Growth Fund July 1, 2007 February 28, 2015
Invesco Global Opportunities Fund August 3, 2012 February 28, 2015
Invesco Global Small & Mid Cap Growth Fund July 1, 2007 February 28, 2015
Invesco International Core Equity Fund July 1, 2007 February 28, 2015
Invesco International Growth Fund July 1, 2007 February 28, 2015
Invesco Select Opportunities Fund August 3, 2012 February 28, 2015
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------ -----------------
Invesco All Cap Market Neutral Fund December 17, 2013 December 31, 2015
Invesco Balanced-Risk Allocation Fund/1/ May 29, 2009 February 28, 2015
Invesco Balanced-Risk Commodity Strategy Fund/2/ November 29, 2010 February 28, 2015
Invesco China Fund July 1, 2007 February 28, 2015
Invesco Developing Markets Fund July 1, 2007 February 28, 2015
Invesco Emerging Markets Equity Fund May 11, 2011 February 28, 2015
Invesco Emerging Market Local Currency Debt Fund June 14, 2010 February 28, 2015
Invesco Endeavor Fund July 1, 2007 February 28, 2015
Invesco Global Health Care Fund July 1, 2007 February 28, 2015
Invesco Global Infrastructure Fund May 2, 2014 May 31, 2015
Invesco Global Market Neutral Fund December 17, 2013 December 31, 2015
Invesco Global Markets Strategy Fund/3/ September 25, 2012 February 28, 2015
Invesco Global Targeted Returns Fund/4/ December 17, 2013 December 31, 2015
Invesco International Total Return Fund July 1, 2007 February 28, 2015
Invesco Long/Short Equity Fund December 17, 2013 December 31, 2015
Invesco Low Volatility Emerging Markets Fund December 17, 2013 December 31, 2015
Invesco Macro International Equity Fund December 17, 2013 December 31, 2015
Invesco Macro Long/Short Fund December 17, 2013 December 31, 2015
Invesco Pacific Growth Fund February 12, 2010 February 28, 2015
Invesco Premium Income Fund December 13, 2011 February 28, 2015
Invesco Select Companies Fund July 1, 2007 February 28, 2015
Invesco Strategic Income Fund May 2, 2014 May 31, 2015
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco Corporate Bond Fund February 12, 2010 June 30, 2014
Invesco Global Real Estate Fund July 1, 2007 June 30, 2014
Invesco High Yield Fund July 1, 2007 June 30, 2014
Invesco Limited Maturity Treasury Fund July 1, 2007 June 30, 2014
Invesco Money Market Fund July 1, 2007 June 30, 2014
Invesco Real Estate Fund July 1, 2007 June 30, 2014
Invesco Short Term Bond Fund July 1, 2007 June 30, 0000
Xxxxxxx X.X. Government Fund July 1, 2007 June 30, 2014
--------
/1/ Advisory fees to be waived by Invesco for Invesco Balanced-Risk Allocation
Fund also include advisory fees that Invesco receives on the Uninvested
Cash from the Affiliated Money Market Fund in which Invesco Cayman
Commodity Fund I, Ltd. invests.
/2/ Advisory fees to be waived by Invesco for Invesco Balanced-Risk Commodity
Strategy Fund also include advisory fees that Invesco receives on the
Uninvested Cash from the Affiliated Money Market Fund in which Invesco
Cayman Commodity Fund III, Ltd. invests.
/3/ Advisory fees to be waived by Invesco for Invesco Global Markets Strategy
Fund also include advisory fees that Invesco receives on the Uninvested
Cash from the Affiliated Money Market Fund in which Invesco Cayman
Commodity Fund V, Ltd. invests.
/4/ Advisory fees to be waived by Invesco for Invesco Global Targeted Returns
Fund also include advisory fees that Invesco receives on the Uninvested
Cash from the Affiliated Money Market Fund in which Invesco Cayman
Commodity Fund VII, Ltd. invests.
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco American Value Fund February 12, 2010 June 30, 2014
Invesco Xxxxxxxx Fund February 12, 2010 June 30, 2014
Invesco Energy Fund July 1, 2007 June 30, 2014
Invesco Dividend Income Fund July 1, 2007 June 30, 2014
Invesco Gold & Precious Metals Fund July 1, 2007 June 30, 2014
Invesco Mid Cap Growth Fund February 12, 2010 June 30, 2014
Invesco Small Cap Value Fund February 12, 2010 June 30, 2014
Invesco Technology Fund July 1, 2007 June 30, 2014
Invesco Technology Sector Fund February 12, 2010 June 30, 2014
Invesco Value Opportunities Fund February 12, 2010 June 30, 2014
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco High Yield Municipal Fund February 12, 2010 June 30, 2014
Invesco Intermediate Term Municipal Income Fund February 12, 2010 June 30, 2014
Invesco Municipal Income Fund February 12, 2010 June 30, 2014
Invesco New York Tax Free Income Fund February 12, 2010 June 30, 2014
Invesco Tax-Exempt Cash Fund July 1, 2007 June 30, 2014
Invesco Tax-Free Intermediate Fund July 1, 2007 June 30, 2014
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco V.I. American Franchise Fund February 12, 2010 April 30, 2015
Invesco V.I. American Value Fund February 12, 2010 April 30, 2015
Invesco V.I. Balanced-Risk Allocation Fund/5/ December 22, 2010 April 30, 2015
Invesco V.I. Xxxxxxxx Fund February 12, 2010 April 30, 2015
Invesco V.I. Core Equity Fund July 1, 2007 April 30, 2015
Invesco V.I. Diversified Dividend Fund February 12, 2010 April 30, 2015
Invesco V.I. Diversified Income Fund July 1, 2007 April 30, 2015
Invesco V.I. Equally-Weighted S&P 500 Fund February 12, 2010 April 30, 2015
Invesco V.I. Equity and Income Fund February 12, 2010 April 30, 2015
Invesco V.I. Global Core Equity Fund February 12, 2010 April 30, 2015
Invesco V.I. Global Health Care Fund July 1, 2007 April 30, 2015
Invesco V.I. Global Real Estate Fund July 1, 2007 April 30, 2015
Invesco V.I. Government Securities Fund July 1, 2007 April 30, 2015
Invesco V.I. Growth and Income Fund February 12, 2010 April 30, 2015
Invesco V.I. High Yield Fund July 1, 2007 April 30, 2015
Invesco V.I. International Growth Fund July 1, 2007 April 30, 2015
Invesco V.I. Mid Cap Core Equity Fund July 1, 2007 April 30, 2015
Invesco V.I. Mid Cap Growth Fund February 12, 2010 April 30, 2015
Invesco V.I. Money Market Fund July 1, 2007 April 30, 2015
Invesco V.I. S&P 500 Index Fund February 12, 2010 April 30, 2015
Invesco V.I. Small Cap Equity Fund July 1, 2007 April 30, 2015
Invesco V.I. Technology Fund July 1, 2007 April 30, 2015
Invesco V.I. Managed Volatility Fund July 1, 2007 April 30, 2015
Invesco V.I. Value Opportunities Fund July 1, 2007 April 30, 2015
/5/ Advisory fees to be waived by Invesco for Invesco V.I. Balanced-Risk
Allocation Fund also include advisory fees that Invesco receives on the
Uninvested Cash from the Affiliated Money Market Fund in which Invesco
Cayman Commodity Fund IV, Ltd. invests.
INVESCO SECURITIES TRUST
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ---------------- -----------------
Invesco Balanced-Risk Aggressive Allocation Fund January 16, 2013 February 28, 2015
CLOSED-END FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL
---- -------------- ---------------
Invesco Municipal Income Opportunities Trust June 1, 2010 June 30, 2014
Invesco Quality Municipal Income Trust June 1, 2010 June 30, 2014
Invesco Value Municipal Income Trust June 1, 2010 June 30, 2014
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 Municipal Income Opportunities
Trust, Invesco Quality Municipal Income Trust, Invesco Securities Trust,
Invesco Value Municipal Income 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), Invesco agrees 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, Invesco agrees 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 Invesco has agreed to continue them. The Exhibits
will be amended to reflect any such agreement.
For the Voluntary Limits (listed in Exhibits A - D), Invesco agrees 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.
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 MUNICIPAL INCOME OPPORTUNITIES TRUST
INVESCO QUALITY MUNICIPAL INCOME TRUST
INVESCO SECURITIES TRUST
INVESCO VALUE MUNICIPAL INCOME 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, 2014
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 American Franchise Fund
Class A Shares....................... Contractual 2.00% July 1, 2013 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2013 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2014
Class R6 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2013 June 30, 0000
Xxxxxxx Xxxxxxxxxx Tax-Free Income Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Invesco Core Plus Bond Fund
Class A Shares....................... Contractual 0.75% June 6, 2011 December 31, 2013
Class B Shares....................... Contractual 1.50% June 6, 2011 December 31, 2013
Class C Shares....................... Contractual 1.50% June 6, 2011 December 31, 2013
Class R Shares....................... Contractual 1.00% June 6, 2011 December 31, 2013
Class R5 Shares...................... Contractual 0.50% June 6, 2011 December 31, 2013
Class R6 Shares...................... Contractual 0.50% September 24, 2012 December 31, 2013
Class Y Shares....................... Contractual 0.50% June 6, 2011 December 31, 2013
Invesco Core Plus Bond Fund
Class A Shares....................... Contractual 0.84% January 1, 2014 December 31, 2014
Class B Shares....................... Contractual 1.59% January 1, 2014 December 31, 2014
Class C Shares....................... Contractual 1.59% January 1, 2014 December 31, 2014
Class R Shares....................... Contractual 1.09% January 1, 2014 December 31, 2014
Class R5 Shares...................... Contractual 0.59% January 1, 2014 December 31, 2014
Class R6 Shares...................... Contractual 0.59% January 1, 2014 December 31, 2014
Class Y Shares....................... Contractual 0.59% January 1, 2014 December 31, 2014
Invesco Equally-Weighted S&P 500 Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Invesco Equity and Income Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class R6 Shares...................... Contractual 1.25% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Invesco Floating Rate Fund
Class A Shares....................... Contractual 1.50% April 14, 2006 June 30, 2014
Class C Shares....................... Contractual 2.00% April 14, 2006 June 30, 2014
Class R Shares....................... Contractual 1.75% April 14, 2006 June 30, 2014
Class R5 Shares...................... Contractual 1.25% April 14, 2006 June 30, 2014
Class R6 Shares...................... Contractual 1.25% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% October 3, 2008 June 30, 2014
See page 16 for footnotes to Exhibit A.
3
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco Global Real Estate Income Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Invesco Growth and Income Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2012 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Invesco Low Volatility Equity Yield Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Investor Class Shares................ Contractual 2.00% July 1, 2012 June 30, 0000
Xxxxxxx Xxxxxxxxxxxx Tax Free Income
Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Invesco S&P 500 Index Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Invesco Small Cap Discovery Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Invesco Strategic Real Return Fund
Class A Shares....................... Contractual 0.78% April 30, 2014 April 30, 2015
Class C Shares....................... Contractual 1.53% April 30, 2014 April 30, 2015
Class R Shares....................... Contractual 1.03% April 30, 2014 April 30, 2015
Class R5 Shares...................... Contractual 0.53% April 30, 2014 April 30, 2015
Class R6 Shares...................... Contractual 0.53% April 30, 2014 April 30, 2015
Class Y Shares....................... Contractual 0.53% April 30, 2014 April 30, 2015
See page 16 for footnotes to Exhibit A.
4
as of April 30, 2014
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Charter Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class S Shares....................... Contractual 1.90% September 25, 2009 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Invesco Diversified Dividend Fund
Class A Shares....................... Contractual 2.00% July 1, 2013 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2013 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2014
Class R6 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2013 June 30, 2014
Investor Class Shares................ Contractual 2.00% July 1, 2013 June 30, 0000
Xxxxxxx Xxxxxx Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class P Shares....................... Contractual 1.85% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class S Shares....................... Contractual 1.90% September 25, 2009 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
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 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Invesco Global Core Equity Fund
Class A Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2013 June 30, 2014
Class R Shares....................... Contractual 2.50% July 1, 2013 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2013 June 30, 2014
Invesco International Small Company Fund
Class A Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 2.00% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
See page 16 for footnotes to Exhibit A.
5
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Small Cap Equity Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco Alternative Strategies Fund
Class A Shares....................... Contractual 0.82% December 17, 2013 December 31, 2015
Class C Shares....................... Contractual 1.57% December 17, 2013 December 31, 2015
Class R Shares....................... Contractual 1.07% December 17, 2013 December 31, 2015
Class R5 Shares...................... Contractual 0.57% December 17, 2013 December 31, 2015
Class R6 Shares...................... Contractual 0.57% December 17, 2013 December 31, 2015
Class Y Shares....................... Contractual 0.57% December 17, 2013 December 31, 2015
Invesco Balanced-Risk Retirement 2020
Fund
Class A Shares....................... Contractual 0.25% November 4, 2009 April 30, 2015
Class AX Shares...................... Contractual 0.25% February 12, 2010 April 30, 2015
Class B Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class C Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class CX Shares...................... Contractual 1.00% February 12, 2010 April 30, 2015
Class R Shares....................... Contractual 0.50% November 4, 2009 April 30, 2015
Class R5 Shares...................... Contractual 0.00% November 4, 2009 April 30, 2015
Class R6 Shares...................... Contractual 0.00% September 24, 2012 April 30, 2015
Class RX Shares...................... Contractual 0.50% February 12, 2010 April 30, 2015
Class Y Shares....................... Contractual 0.00% November 4, 2009 April 30, 2015
Invesco Balanced-Risk Retirement 2030
Fund
Class A Shares....................... Contractual 0.25% November 4, 2009 April 30, 2015
Class AX Shares...................... Contractual 0.25% February 12, 2010 April 30, 2015
Class B Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class C Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class CX Shares...................... Contractual 1.00% February 12, 2010 April 30, 2015
Class R Shares....................... Contractual 0.50% November 4, 2009 April 30, 2015
Class R5 Shares...................... Contractual 0.00% November 4, 2009 April 30, 2015
Class R6 Shares...................... Contractual 0.00% September 24, 2012 April 30, 2015
Class RX Shares...................... Contractual 0.50% February 12, 2010 April 30, 2015
Class Y Shares....................... Contractual 0.00% November 4, 2009 April 30, 2015
Invesco Balanced-Risk Retirement 2040
Fund
Class A Shares....................... Contractual 0.25% November 4, 2009 April 30, 2015
Class AX Shares...................... Contractual 0.25% February 12, 2010 April 30, 2015
Class B Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class C Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class CX Shares...................... Contractual 1.00% February 12, 2010 April 30, 2015
Class R Shares....................... Contractual 0.50% November 4, 2009 April 30, 2015
Class R5 Shares...................... Contractual 0.00% November 4, 2009 April 30, 2015
Class R6 Shares...................... Contractual 0.00% September 24, 2012 April 30, 2015
Class RX Shares...................... Contractual 0.50% February 12, 2010 April 30, 2015
Class Y Shares....................... Contractual 0.00% November 4, 2009 April 30, 2015
See page 16 for footnotes to Exhibit A.
6
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco Balanced-Risk Retirement 2050
Fund
Class A Shares....................... Contractual 0.25% November 4, 2009 April 30, 2015
Class AX Shares...................... Contractual 0.25% February 12, 2010 April 30, 2015
Class B Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class C Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class CX Shares...................... Contractual 1.00% February 12, 2010 April 30, 2015
Class R Shares....................... Contractual 0.50% November 4, 2009 April 30, 2015
Class R5 Shares...................... Contractual 0.00% November 4, 2009 April 30, 2015
Class R6 Shares...................... Contractual 0.00% September 24, 2012 April 30, 2015
Class RX Shares...................... Contractual 0.50% February 12, 2010 April 30, 2015
Class Y Shares....................... Contractual 0.00% November 4, 2009 April 30, 2015
Invesco Balanced-Risk Retirement Now
Fund
Class A Shares....................... Contractual 0.25% November 4, 2009 April 30, 2015
Class AX Shares...................... Contractual 0.25% February 12, 2010 April 30, 2015
Class B Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class C Shares....................... Contractual 1.00% November 4, 2009 April 30, 2015
Class CX Shares...................... Contractual 1.00% February 12, 2010 April 30, 2015
Class R Shares....................... Contractual 0.50% November 4, 2009 April 30, 2015
Class R5 Shares...................... Contractual 0.00% November 4, 2009 April 30, 2015
Class R6 Shares...................... Contractual 0.00% September 24, 2012 April 30, 2015
Class RX Shares...................... Contractual 0.50% February 12, 2010 April 30, 2015
Class Y Shares....................... Contractual 0.00% November 4, 2009 April 30, 2015
Invesco Conservative Allocation Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class S Shares....................... Contractual 1.40% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Invesco Convertible Securities Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class R6 Shares...................... Contractual 1.25% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Invesco Global Low Volatility Equity
Yield Fund
Class A Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.50% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Invesco Growth Allocation Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2012 June 30, 2014
Class S Shares....................... Contractual 1.90% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
See page 16 for footnotes to Exhibit A.
7
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco Income Allocation Fund
Class A Shares....................... Contractual 0.25% May 1, 2012 April 30, 2015
Class B Shares....................... Contractual 1.00% May 1, 2012 April 30, 2015
Class C Shares....................... Contractual 1.00% May 1, 2012 April 30, 2015
Class R Shares....................... Contractual 0.50% May 1, 2012 April 30, 2015
Class R5 Shares...................... Contractual 0.00% May 1, 2012 April 30, 2015
Class Y Shares....................... Contractual 0.00% May 1, 2012 April 30, 2015
Invesco International Allocation Fund
Class A Shares....................... Contractual 2.25% May 1, 2012 June 30, 2014
Class B Shares....................... Contractual 3.00% May 1, 2012 June 30, 2014
Class C Shares....................... Contractual 3.00% May 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.50% May 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 2.00% May 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 2.00% May 1, 2012 June 30, 2014
Invesco Mid Cap Core Equity Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Invesco Moderate Allocation Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class S Shares....................... Contractual 1.40% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Invesco Multi-Asset Inflation Fund
Class A Shares....................... Contractual 0.73% April 30, 2014 April 30, 2015
Class C Shares....................... Contractual 1.48% April 30, 2014 April 30, 2015
Class R Shares....................... Contractual 0.98% April 30, 2014 April 30, 2015
Class Y Shares....................... Contractual 0.48% April 30, 2014 April 30, 2015
Class R5 Shares...................... Contractual 0.48% April 30, 2014 April 30, 2015
Class R6 Shares...................... Contractual 0.48% April 30, 2014 April 30, 2015
Invesco Small Cap Growth Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Investor Class Shares................ Contractual 2.00% July 1, 2009 June 30, 0000
Xxxxxxx X.X. Mortgage Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
See page 16 for footnotes to Exhibit A.
8
as of April 30, 2014
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 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Invesco European Growth Fund
Class A Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.50% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Investor Class Shares................ Contractual 2.25% July 1, 2009 June 30, 2014
Invesco Global Growth Fund
Class A Shares....................... Contractual 2.25% January 1, 2013 June 30, 2014
Class B Shares....................... Contractual 3.00% January 1, 2013 June 30, 2014
Class C Shares....................... Contractual 3.00% January 1, 2013 June 30, 2014
Class R5 Shares...................... Contractual 2.00% January 1, 2013 June 30, 2014
Class R6 Shares...................... Contractual 2.00% January 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 2.00% January 1, 2013 June 30, 2014
Invesco Global Opportunities Fund
Class A Shares....................... Contractual 1.36% August 1, 2012 February 28, 2015
Class C Shares....................... Contractual 2.11% August 1, 2012 February 28, 2015
Class R Shares....................... Contractual 1.61% August 1, 2012 February 28, 2015
Class R5 Shares...................... Contractual 1.11% August 1, 2012 February 28, 2015
Class R6 Shares...................... Contractual 1.11% September 24, 2012 February 28, 2015
Class Y Shares....................... Contractual 1.11% August 1, 2012 February 28, 2015
Invesco Global Small & Mid Cap Growth
Fund
Class A Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Invesco International Core Equity Fund
Class A Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.50% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 2.00% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Investor Class Shares................ Contractual 2.25% July 1, 2009 June 30, 2014
Invesco International Growth Fund
Class A Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2013 June 30, 2014
Class R Shares....................... Contractual 2.50% July 1, 2013 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2013 June 30, 2014
Class R6 Shares...................... Contractual 2.00% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2013 June 30, 2014
Invesco Select Opportunities Fund
Class A Shares....................... Contractual 1.51% August 1, 2012 February 28, 2015
Class C Shares....................... Contractual 2.26% August 1, 2012 February 28, 2015
Class R Shares....................... Contractual 1.76% August 1, 2012 February 28, 2015
Class R5 Shares...................... Contractual 1.26% August 1, 2012 February 28, 2015
Class R6 Shares...................... Contractual 1.26% September 24, 2012 February 28, 2015
Class Y Shares....................... Contractual 1.26% August 1, 2012 February 28, 2015
See page 16 for footnotes to Exhibit A.
9
as of April 30, 2014
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco All Cap Market Neutral Fund
Class A Shares....................... Contractual 1.62% December 17, 2013 December 31, 2015
Class C Shares....................... Contractual 2.37% December 17, 2013 December 31, 2015
Class R Shares....................... Contractual 1.87% December 17, 2013 December 31, 2015
Class R5 Shares...................... Contractual 1.37% December 17, 2013 December 31, 2015
Class R6 Shares...................... Contractual 1.37% December 17, 2013 December 31, 2015
Class Y Shares....................... Contractual 1.37% December 17, 2013 December 31, 2015
Invesco Balanced-Risk Allocation Fund/3/
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2012 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Invesco Balanced-Risk Commodity
Strategy Fund/4/
Class A Shares....................... Contractual 1.22% November 29, 2010 June 30, 2014
Class B Shares....................... Contractual 1.97% November 29, 2010 June 30, 2014
Class C Shares....................... Contractual 1.97% November 29, 2010 June 30, 2014
Class R Shares....................... Contractual 1.47% November 29, 2010 June 30, 2014
Class R5 Shares...................... Contractual 0.97% November 29, 2010 June 30, 2014
Class R6 Shares...................... Contractual 0.97% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 0.97% November 29, 2010 June 30, 2014
Invesco China Fund
Class A Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Invesco Developing Markets Fund
Class A Shares....................... Contractual 2.25% July 1, 2012 June 30. 2014
Class B Shares....................... Contractual 3.00% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2012 June 30, 2014
Class R6 Shares...................... Contractual 2.00% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Invesco Emerging Markets Equity Fund
Class A Shares....................... Contractual 1.85% May 11, 2011 February 28, 2015
Class C Shares....................... Contractual 2.60% May 11, 2011 February 28, 2015
Class R Shares....................... Contractual 2.10% May 11, 2011 February 28, 2015
Class R5 Shares...................... Contractual 1.60% May 11, 2011 February 28, 2015
Class R6 Shares...................... Contractual 1.60% September 24, 2012 February 28, 2015
Class Y Shares....................... Contractual 1.60% May 11, 2011 February 28, 2015
Invesco Emerging Market Local Currency
Debt Fund
Class A Shares....................... Contractual 1.24% June 14, 2010 February 28, 2015
Class B Shares....................... Contractual 1.99% June 14, 2010 February 28, 2015
Class C Shares....................... Contractual 1.99% June 14, 2010 February 28, 2015
Class R Shares....................... Contractual 1.49% June 14, 2010 February 28, 2015
Class Y Shares....................... Contractual 0.99% June 14, 2010 February 28, 2015
Class R5 Shares...................... Contractual 0.99% June 14, 2010 February 28, 2015
Class R6 Shares...................... Contractual 0.99% September 24, 2012 February 28, 2015
See page 16 for footnotes to Exhibit A.
10
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco Endeavor Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Invesco Global Health Care Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Investor Class Shares................ Contractual 2.00% July 1, 2012 June 30, 2014
Invesco Global Infrastructure Fund
Class A Shares....................... Contractual 1.40% May 2, 2014 May 31, 2015
Class C Shares....................... Contractual 2.15% May 2, 2014 May 31, 2015
Class R Shares....................... Contractual 1.65% May 2, 2014 May 31, 2015
Class Y Shares....................... Contractual 1.15% May 2, 2014 May 31, 2015
Class R5 Shares...................... Contractual 1.15% May 2, 2014 May 31, 2015
Class R6 Shares...................... Contractual 1.15% May 2, 2014 May 31, 2015
Invesco Global Markets Strategy Fund/5/
Class A Shares....................... Contractual 2.25% August 28, 2013 December 16, 2013
Class C Shares....................... Contractual 3.00% August 28, 2013 December 16, 2013
Class R Shares....................... Contractual 2.50% August 28, 2013 December 16, 2013
Class R5 Shares...................... Contractual 2.00% August 28, 2013 December 16, 2013
Class R6 Shares...................... Contractual 2.00% August 28, 2013 December 16, 2013
Class Y Shares....................... Contractual 2.00% August 28, 2013 December 16, 2013
Invesco Global Markets Strategy Fund/5/
Class A Shares....................... Contractual 1.80% December 17, 2013 February 28, 2015
Class C Shares....................... Contractual 2.55% December 17, 2013 February 28, 2015
Class R Shares....................... Contractual 2.05% December 17, 2013 February 28, 2015
Class R5 Shares...................... Contractual 1.55% December 17, 2013 February 28, 2015
Class R6 Shares...................... Contractual 1.55% December 17, 2013 February 28, 2015
Class Y Shares....................... Contractual 1.55% December 17, 2013 February 28, 2015
Invesco Global Market Neutral Fund
Class A Shares....................... Contractual 1.62% December 17, 2013 December 31, 2015
Class C Shares....................... Contractual 2.37% December 17, 2013 December 31, 2015
Class R Shares....................... Contractual 1.87% December 17, 2013 December 31, 2015
Class R5 Shares...................... Contractual 1.37% December 17, 2013 December 31, 2015
Class R6 Shares...................... Contractual 1.37% December 17, 2013 December 31, 2015
Class Y Shares....................... Contractual 1.37% December 17, 2013 December 31, 2015
Invesco Global Targeted Returns Fund/6/
Class A Shares....................... Contractual 1.71% December 17, 2013 December 31, 2015
Class C Shares....................... Contractual 2.46% December 17, 2013 December 31, 2015
Class R Shares....................... Contractual 1.96% December 17, 2013 December 31, 2015
Class R5 Shares...................... Contractual 1.46% December 17, 2013 December 31, 2015
Class R6 Shares...................... Contractual 1.46% December 17, 2013 December 31, 2015
Class Y Shares....................... Contractual 1.46% December 17, 2013 December 31, 2015
See page 16 for footnotes to Exhibit A.
11
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco International Total Return Fund
Class A Shares....................... Contractual 1.10% March 31, 2006 February 28, 2015
Class B Shares....................... Contractual 1.85% March 31, 2006 February 28, 2015
Class C Shares....................... Contractual 1.85% March 31, 2006 February 28, 2015
Class R5 Shares...................... Contractual 0.85% October 3, 2008 February 28, 2015
Class R6 Shares...................... Contractual 0.85% September 24, 2012 February 28, 2015
Class Y Shares....................... Contractual 0.85% March 31, 2006 February 28, 2015
Invesco Long/Short Equity Fund
Class A Shares....................... Contractual 1.87% December 17, 2013 December 31, 2015
Class C Shares....................... Contractual 2.62% December 17, 2013 December 31, 2015
Class R Shares....................... Contractual 2.12% December 17, 2013 December 31, 2015
Class R5 Shares...................... Contractual 1.62% December 17, 2013 December 31, 2015
Class R6 Shares...................... Contractual 1.62% December 17, 2013 December 31, 2015
Class Y Shares....................... Contractual 1.62% December 17, 2013 December 31, 2015
Invesco Low Volatility Emerging Markets
Fund
Class A Shares....................... Contractual 1.72% December 17, 2013 December 31, 2015
Class C Shares....................... Contractual 2.47% December 17, 2013 December 31, 2015
Class R Shares....................... Contractual 1.97% December 17, 2013 December 31, 2015
Class R5 Shares...................... Contractual 1.47% December 17, 2013 December 31, 2015
Class R6 Shares...................... Contractual 1.47% December 17, 2013 December 31, 2015
Class Y Shares....................... Contractual 1.47% December 17, 2013 December 31, 2015
Invesco MLP Fund........................
Class A Shares....................... Contractual 1.50% May 2, 2014 May 31, 2015
Class C Shares....................... Contractual 2.25% May 2, 2014 May 31, 2015
Class R Shares....................... Contractual 1.75% May 2, 2014 May 31, 2015
Class R5 Shares...................... Contractual 1.25% May 2, 2014 May 31, 2015
Class R6 Shares...................... Contractual 1.25% May 2, 2014 May 31, 2015
Class Y Shares....................... Contractual 1.25% May 2, 2014 May 31, 2015
Invesco Macro international Equity Fund
Class A Shares....................... Contractual 1.43% December 17, 2013 December 31, 2015
Class C Shares....................... Contractual 2.18% December 17, 2013 December 31, 2015
Class R Shares....................... Contractual 1.68% December 17, 2013 December 31, 2015
Class R5 Shares...................... Contractual 1.18% December 17, 2013 December 31, 2015
Class R6 Shares...................... Contractual 1.18% December 17, 2013 December 31, 2015
Class Y Shares....................... Contractual 1.18% December 17, 2013 December 31, 2015
Invesco Macro Long/Short Fund
Class A Shares....................... Contractual 1.87% December 17, 2013 December 31, 2015
Class C Shares....................... Contractual 2.62% December 17, 2013 December 31, 2015
Class R Shares....................... Contractual 2.12% December 17, 2013 December 31, 2015
Class R5 Shares...................... Contractual 1.62% December 17, 2013 December 31, 2015
Class R6 Shares...................... Contractual 1.62% December 17, 2013 December 31, 2015
Class Y Shares....................... Contractual 1.62% December 17, 2013 December 31, 2015
Invesco Pacific Growth Fund
Class A Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 3.00% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 3.00% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.50% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 2.00% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
See page 16 for footnotes to Exhibit A.
12
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco Premium Income Fund
Class A Shares....................... Contractual 0.89% December 13, 2011 February 28, 2015
Class C Shares....................... Contractual 1.64% December 13, 2011 February 28, 2015
Class R Shares....................... Contractual 1.14% December 13, 2011 February 28, 2015
Class R5 Shares...................... Contractual 0.64% December 13, 2011 February 28, 2015
Class R6 Shares...................... Contractual 0.64% September 24, 2012 February 28, 2015
Class Y Shares....................... Contractual 0.64% December 13, 2011 February 28, 2015
Invesco Select Companies Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30. 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Invesco Strategic Income Fund
Class A Shares....................... Contractual 0.82% May 2, 2014 May 31, 2015
Class C Shares....................... Contractual 1.57% May 2, 2014 May 31, 2015
Class R Shares....................... Contractual 1.07% May 2, 2014 May 31, 2015
Class Y Shares....................... Contractual 0.57% May 2, 2014 May 31, 2015
Class R5 Shares...................... Contractual 0.57% May 2, 2014 May 31, 2015
Class R6 Shares...................... Contractual 0.57% May 2, 2014 May 31, 2015
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Corporate Bond Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class R6 Shares...................... Contractual 1.25% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Invesco Global Real Estate Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Invesco High Yield Fund
Class A Shares....................... Contractual 1.50% July 1, 2013 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2013 June 30, 2014
Class R6 Shares...................... Contractual 1.25% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2013 June 30, 2014
Investor Class Shares................ Contractual 1.50% July 1, 2013 June 30, 2014
Invesco Limited Maturity Treasury Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class A2 Shares...................... Contractual 1.40% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
See page 16 for footnotes to Exhibit A.
13
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco Municipal Bond Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Investor Class Shares................ Contractual 1.50% July 1, 2012 June 30, 2014
Invesco Real Estate Fund July 1, 2012
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% September 24, June 30, 2014
Class R6 Shares...................... Contractual 1.75% 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Investor Class Shares................ Contractual 2.00% July 1, 2012 June 30, 2014
Invesco Short Term Bond Fund
Class A Shares....................... Contractual 1.40% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 1.75%/2/ July 1, 2013 June 30, 2014
Class R Shares....................... Contractual 1.75% July 1, 2013 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2013 June 30, 2014
Class R6 Shares...................... Contractual 1.25% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2013 June 30, 0000
Xxxxxxx X.X. Government Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Investor Class Shares................ Contractual 1.50% July 1, 2012 June 30, 2014
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco American Value Fund
Class A Shares....................... Contractual 2.00% July 1, 2013 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2013 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2014
Class R6 Shares...................... Contractual 1.75% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2013 June 30, 2014
Invesco Xxxxxxxx Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2012 June 30, 2014
Class R6 Shares...................... Contractual 1.75% September 24, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Invesco Energy Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Investor Class Shares................ Contractual 2.00% July 1, 2009 June 30, 2014
See page 16 for footnotes to Exhibit A.
14
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- ---------------
Invesco Dividend Income Fund
Class A Shares....................... Contractual 1.10% February 6, 2013 August 31, 2014
Class B Shares....................... Contractual 1.85% February 6, 2013 August 31, 2014
Class C Shares....................... Contractual 1.85% February 6, 2013 August 31, 2014
Class R5 Shares...................... Contractual 0.85% February 6, 2013 August 31, 2014
Class R6 Shares...................... Contractual 0.85% February 6, 2013 August 31, 2014
Class Y Shares....................... Contractual 0.85% February 6, 2013 August 31, 2014
Investor Class Shares................ Contractual 1.10% February 6, 2013 August 31, 2014
Invesco Gold & Precious Metals Fund
Class A Shares....................... Contractual 2.00% July 1, 2009 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2009 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2009 June 30, 2014
Investor Class Shares................ Contractual 2.00% July 1, 2009 June 30, 2014
Invesco Mid Cap Growth Fund
Class A Shares....................... Contractual 1.15% July 15, 2013 July 31, 2015
Class B Shares....................... Contractual 1.90% July 15, 2013 July 31, 2015
Class C Shares....................... Contractual 1.90% July 15, 2013 July 31, 2015
Class R Shares....................... Contractual 1.40% July 15, 2013 July 31, 2015
Class R5 Shares...................... Contractual 0.90% July 15, 2013 July 31, 2015
Class R6 Shares...................... Contractual 0.90% July 15, 2013 July 31, 2015
Class Y Shares....................... Contractual 0.90% July 15, 2013 July 31, 2015
Invesco Small Cap Value Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Invesco Technology Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
Investor Class Shares................ Contractual 2.00% July 1, 2012 June 30, 2014
Invesco Technology Sector Fund
Class A Shares....................... Contractual 2.00% February 12, 2010 June 30, 2014
Class B Shares....................... Contractual 2.75% February 12, 2010 June 30, 2014
Class C Shares....................... Contractual 2.75% February 12, 2010 June 30, 2014
Class Y Shares....................... Contractual 1.75% February 12, 2010 June 30, 2014
Invesco Value Opportunities Fund
Class A Shares....................... Contractual 2.00% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.75% July 1, 2012 June 30, 2014
Class R Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.75% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.75% July 1, 2012 June 30, 2014
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco High Yield Municipal Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
See page 16 for footnotes to Exhibit A.
15
as of April 30, 2014
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco Intermediate Term Municipal
Income Fund
Class A Shares....................... Contractual 0.80% July 1, 2013 June 30, 2014
Class B Shares....................... Contractual 1.55% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 1.55% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 0.55% July 1, 2013 June 30, 2014
Invesco Municipal Income Fund
Class A Shares....................... Contractual 1.50% July 1, 2013 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2013 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2013 June 30, 2014
Investor Class....................... Contractual 1.50% July 15, 2013 June 30, 2014
Invesco New York Tax Free Income Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class B Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
Invesco Tax-Free Intermediate Fund
Class A Shares....................... Contractual 1.50% July 1, 2012 June 30, 2014
Class A2 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class C Shares....................... Contractual 2.25% June 30, 2013 June 30, 2014
Class R5 Shares...................... Contractual 1.25% July 1, 2012 June 30, 2014
Class Y Shares....................... Contractual 1.25% July 1, 2012 June 30, 2014
INVESCO SECURITIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Balanced-Risk Aggressive
Allocation Fund....................... Contractual 1.15% January 16, 2013 February 28, 2015
/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/ The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by Invesco Distributors, Inc.
/3/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund I, Ltd.
/4/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund III, Ltd.
/5/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund V, Ltd.
/6/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund VII, Ltd.
16
as of April 30, 2014
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, 2014
Corporate Class................. Contractual 0.17% July 1, 2009 December 31, 2014
Institutional Class............. Contractual 0.14% July 1, 2009 December 31, 2014
Personal Investment Class....... Contractual 0.69%/2/ July 1, 2009 December 31, 2014
Private Investment Class........ Contractual 0.44%/2/ July 1, 2009 December 31, 2014
Reserve Class................... Contractual 1.01%/2/ July 1, 2009 December 31, 2014
Resource Class.................. Contractual 0.30%/2/ July 1, 2009 December 31, 2014
Government TaxAdvantage Portfolio
Cash Management Class........... Contractual 0.22%/2/ July 1, 2009 December 31, 2014
Corporate Class................. Contractual 0.17% July 1, 2009 December 31, 2014
Institutional Class............. Contractual 0.14% July 1, 2009 December 31, 2014
Personal Investment Class....... Contractual 0.69%/2/ July 1, 2009 December 31, 2014
Private Investment Class........ Contractual 0.39%/2/ July 1, 2009 December 31, 2014
Reserve Class................... Contractual 1.01%/2/ July 1, 2009 December 31, 2014
Resource Class.................. Contractual 0.30%/2/ July 1, 2009 December 31, 2014
Liquid Assets Portfolio
Cash Management Class........... Contractual 0.22%/2/ July 1, 2009 December 31, 2014
Corporate Class................. Contractual 0.17% July 1, 2009 December 31, 2014
Institutional Class............. Contractual 0.14% July 1, 2009 December 31, 2014
Personal Investment Class....... Contractual 0.69%/2/ July 1, 2009 December 31, 2014
Private Investment Class........ Contractual 0.44%/2/ July 1, 2009 December 31, 2014
Reserve Class................... Contractual 1.01%/2/ July 1, 2009 December 31, 2014
Resource Class.................. Contractual 0.34% July 1, 2009 December 31, 2014
STIC Prime Portfolio
Cash Management Class........... Contractual 0.22%/2/ July 1, 2009 December 31, 2014
Corporate Class................. Contractual 0.17% July 1, 2009 December 31, 2014
Institutional Class............. Contractual 0.14% July 1, 2009 December 31, 2014
Personal Investment Class....... Contractual 0.69%/2/ July 1, 2009 December 31, 2014
Private Investment Class........ Contractual 0.44%/2/ July 1, 2009 December 31, 2014
Reserve Class................... Contractual 1.01%/2/ July 1, 2009 December 31, 2014
Resource Class.................. Contractual 0.30%/2/ July 1, 2009 December 31, 2014
Tax-Free Cash Reserve Portfolio/3/
Cash Management Class........... Contractual 0.33%/2/ July 1, 2009 December 31, 2014
Corporate Class................. Contractual 0.28% July 1, 2009 December 31, 2014
Institutional Class............. Contractual 0.25% July 1, 2009 December 31, 2014
Personal Investment Class....... Contractual 0.80%/2/ July 1, 2009 December 31, 2014
Private Investment Class........ Contractual 0.50%/2/ July 1, 2009 December 31, 2014
Reserve Class................... Contractual 1.12%/2/ July 1, 2009 December 31, 2014
Resource Class.................. Contractual 0.41%/2/ July 1, 2009 December 31, 2014
Treasury Portfolio
Cash Management Class........... Contractual 0.22%/2/ July 1, 2009 December 31, 2014
Corporate Class................. Contractual 0.17% July 1, 2009 December 31, 2014
Institutional Class............. Contractual 0.14% July 1, 2009 December 31, 2014
Personal Investment Class....... Contractual 0.69%/2/ July 1, 2009 December 31, 2014
Private Investment Class........ Contractual 0.44%/2/ July 1, 2009 December 31, 2014
Reserve Class................... Contractual 1.01%/2/ July 1, 2009 December 31, 2014
Resource Class.................. Contractual 0.30%/2/ July 1, 2009 December 31, 2014
/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.
17
as of April 30, 2014
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. American Franchise Fund
Series I Shares...................... Contractual 0.90% July 1, 2012 June 30, 2014
Series II Shares..................... Contractual 1.15% July 1, 2012 June 30, 2014
Invesco V.I. American Value Fund
Series I Shares...................... Contractual 2.00% July 1, 2012 June 30, 2014
Series II Shares..................... Contractual 2.25% July 1, 2012 June 30, 2014
Invesco V.I. Balanced-Risk Allocation
Fund/1/
Series I Shares...................... Contractual 0.78% July 1, 2013 April 30, 2014
Series II Shares..................... Contractual 1.03% July 1, 2013 April 30, 2014
Invesco V.I. Balanced-Risk Allocation
Fund/1/
Series I Shares...................... Contractual 0.76% May 1, 2014 April 30, 2015
Series II Shares..................... Contractual 1.01% May 1, 2014 April 30, 2015
Invesco V.I. Xxxxxxxx Fund
Series I Shares...................... Contractual 0.78% May 1, 2013 April 30, 2015
Series II Shares..................... Contractual 1.03% May 1, 2013 April 30, 2015
Invesco V.I. Core Equity Fund
Series I Shares...................... Contractual 2.00% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2013 June 30, 2014
Invesco V.I. Diversified Dividend Fund
Series I Shares...................... Contractual 2.00% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2013 June 30, 2014
Invesco V.I. Diversified Income Fund
Series I Shares...................... Contractual 0.75% July 1, 2005 April 30, 2015
Series II Shares..................... Contractual 1.00% July 1, 2005 April 30, 2015
Invesco V.I. Equally-Weighted S&P 500
Fund
Series I Shares...................... Contractual 2.00% July 1, 2012 June 30, 2014
Series II Shares..................... Contractual 2.25% July 1, 2012 June 30, 2014
Invesco V.I. Equity and Income Fund
Series I Shares...................... Contractual 1.50% July 1, 2012 June 30, 2014
Series II Shares..................... Contractual 1.75% July 1, 2012 June 30, 2014
/1/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund IV, Ltd.
18
as of April 30, 2014
Invesco V.I. Global Core Equity Fund
Series I Shares...................... Contractual 2.25% July 1, 2012 June 30, 2014
Series II Shares..................... Contractual 2.50% July 1, 2012 June 30, 2014
Invesco V.I. Global Health Care Fund
Series I Shares...................... Contractual 2.00% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2013 June 30, 2014
Invesco V.I. Global Real Estate Fund
Series I Shares...................... Contractual 2.00% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2013 June 30, 2014
Invesco V.I. Government Securities Fund
Series I Shares...................... Contractual 1.50% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 1.75% May 1, 2013 June 30, 2014
Invesco V.I. Growth and Income Fund
Series I Shares...................... Contractual 0.78% May 1, 2013 April 30, 2015
Series II Shares..................... Contractual 1.03% May 1, 2013 April 30, 2015
Invesco V.I. High Yield Fund
Series I Shares...................... Contractual 0.80% May 2, 2011 April 30, 2014
Series II Shares..................... Contractual 1.05% May 2, 2011 April 30, 2014
Invesco V.I. International Growth Fund
Series I Shares...................... Contractual 2.25% July 1, 2012 June 30, 2014
Series II Shares..................... Contractual 2.50% July 1, 2012 June 30, 2014
Invesco V.I. Mid Cap Core Equity Fund
Series I Shares...................... Contractual 2.00% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2013 June 30, 2014
Invesco V.I. Mid Cap Growth Fund
Series I Shares...................... Contractual 1.09% July 1, 2012 June 30, 2014
Series II Shares..................... Contractual 1.34% July 1, 2012 June 30, 2014
Invesco V.I. Money Market Fund
Series I Shares...................... Contractual 1.50% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 1.75% May 1, 2013 June 30, 2014
Invesco V.I. S&P 500 Index Fund
Series I Shares...................... Contractual 2.00% July 1, 2012 June 30, 2014
Series II Shares..................... Contractual 2.25% July 1, 2012 June 30, 2014
Invesco V.I. Small Cap Equity Fund
Series I Shares...................... Contractual 2.00% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2013 June 30, 2014
19
as of April 30, 2014
Invesco V.I. Technology Fund
Series I Shares...................... Contractual 2.00% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2013 June 30, 2014
Invesco V.I. Utilities Fund
Series I Shares...................... Contractual 2.00% May 1, 2012 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2012 June 30, 2014
Invesco V.I. Managed Volatility Fund*
Series I Shares...................... Contractual 1.03% April 30, 2014 April 30, 2015
Series II Shares..................... Contractual 1.28% April 30, 2014 April 30, 2015
Invesco V.I. Value Opportunities Fund
Series I Shares...................... Contractual 2.00% May 1, 2013 June 30, 2014
Series II Shares..................... Contractual 2.25% May 1, 2013 June 30, 2014
* The Fund name and expense limit shown is contingent upon both Board of
Trustee and shareholder approval of certain changes to the Fund.
20
as of April 30, 2014
EXHIBIT "D" - CLOSED-END FUNDS
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- ---------------
Invesco Municipal Income Opportunities
Trust................................ Contractual 0.67% August 27, 2012 August 31, 2014
INVESCO QUALITY MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- ----------------
Invesco Quality Municipal Income
Trust.......................... Contractual 0.50% October 15, 2012 October 31, 2014
INVESCO VALUE MUNICIPAL INCOME TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- ----------------
Invesco Value Municipal Income
Trust........................ Contractual 0.46% October 15, 2012 October 31, 2014
21
Sub-Item 77Q1(e)
AMENDMENT NO. 28
TO
MASTER INVESTMENT ADVISORY AGREEMENT
This amendment effective as of April 30, 2014, amends the Master Investment
Advisory Agreement (the "Agreement"), dated May 1, 2000, between AIM Variable
Insurance Funds (Invesco Variable Insurance Funds), a Delaware statutory trust,
and Invesco Advisers, Inc., a Delaware corporation.
W I T N E S S E T H:
WHEREAS, the parties desire to amend the Agreement to change the name of
Invesco V.I. Utilities Fund to Invesco V.I. Managed Volatility 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
EFFECTIVE DATE OF
NAME OF FUND ADVISORY AGREEMENT
------------ ------------------
Invesco V.I. Balanced-Risk Allocation January 7, 2011
Fund
Invesco V.I. Core Equity Fund May 1, 2000
Invesco V.I. Diversified Income Fund May 1, 2000
Invesco V.I. Global Health Care Fund April 30, 2004
Invesco V.I. Global Real Estate Fund April 30, 2004
Invesco V.I. Government Securities May 1, 2000
Fund
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. Money Market Fund May 1, 2000
Invesco V.I. Small Cap Equity Fund September 1, 2003
Invesco V.I. Technology Fund April 30, 2004
Invesco V.I. Managed Volatility Fund April 30, 2004
Invesco V.I. Diversified Dividend Fund February 12, 2010
Invesco V.I. S&P 500 Index Fund February 12, 2010
Invesco V.I. Equally-Weighted S&P 500 February 12, 2010
Fund
Invesco V.I. American Franchise Fund February 12, 2010
Invesco V.I. American Value Fund February 12, 2010
Invesco V.I. Xxxxxxxx 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. Growth and Income Fund February 12, 2010
Invesco V.I. Mid Cap Growth Fund February 12, 2010
Invesco V.I. Value Opportunities Fund September 10, 0000
XXXXXXXX X
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 V.I. BALANCED-RISK ALLOCATION FUND
NET ASSETS ANNUAL RATE*
---------- ------------
First $250 million...................... 0.95%
Next $250 million....................... 0.925%
Next $500 million....................... 0.90%
Next $1.5 billion....................... 0.875%
Next $2.5 billion....................... 0.85%
Next $2.5 billion....................... 0.825%
Next $2.5 billion....................... 0.80%
Over $10 billion........................ 0.775%
* To the extent Invesco V.I. Balanced-Risk Allocation Fund invests its assets
in Invesco Cayman Commodity Fund IV Ltd., a direct wholly-owned subsidiary
of Invesco V.I. Balanced-Risk Allocation Fund, the Adviser shall not collect
the portion of the advisory fee that the Adviser would otherwise be entitled
to collect from Invesco V.I. Balanced-Risk Allocation Fund, in an amount
equal to 100% of the advisory fee that the Adviser receives from Invesco
Cayman Commodity Fund IV Ltd.
INVESCO V.I. VALUE OPPORTUNITIES FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.695%
Next $250 million....................... 0.67%
Next $500 million....................... 0.645%
Next $1.5 billion....................... 0.62%
Next $2.5 billion....................... 0.595%
Next $2.5 billion....................... 0.57%
Next $2.5 billion....................... 0.545%
Over $10 billion........................ 0.52%
INVESCO V.I. CORE EQUITY FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.65%
Over $250 million....................... 0.60%
INVESCO V.I. DIVERSIFIED INCOME FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.60%
Over $250 million....................... 0.55%
INVESCO V.I. SMALL CAP EQUITY FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.745%
Next $250 million....................... 0.73%
2
Next $500 million............................ 0.715%
Next $1.5 billion............................ 0.70%
Next $2.5 billion............................ 0.685%
Next $2.5 billion............................ 0.67%
Next $2.5 billion............................ 0.655%
Over $10 billion............................. 0.64%
INVESCO V.I. GLOBAL HEALTH CARE FUND
INVESCO V.I. GLOBAL REAL ESTATE FUND
INVESCO V.I. TECHNOLOGY FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.75%
Next $250 million....................... 0.74%
Next $500 million....................... 0.73%
Next $1.5 billion....................... 0.72%
Next $2.5 billion....................... 0.71%
Next $2.5 billion....................... 0.70%
Next $2.5 billion....................... 0.69%
Over $10 billion........................ 0.68%
INVESCO V.I. GOVERNMENT SECURITIES FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.50%
Over $250 million....................... 0.45%
INVESCO V.I. HIGH YIELD FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $200 million...................... 0.625%
Next $300 million....................... 0.55%
Next $500 million....................... 0.50%
Over $1 billion......................... 0.45%
INVESCO V.I. INTERNATIONAL GROWTH FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.75%
Over $250 million....................... 0.70%
INVESCO V.I. MID CAP CORE EQUITY FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $500 million...................... 0.725%
Next $500 million....................... 0.700%
Next $500 million....................... 0.675%
Over $1.5 billion....................... 0.65%
INVESCO V.I. MONEY MARKET FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.40%
Over $250 million....................... 0.35%
3
INVESCO V.I. MANAGED VOLATILITY FUND
NET ASSETS ANNUAL RATE
---------- -----------
All Assets.............................. 0.60%
INVESCO V.I. DIVERSIFIED DIVIDEND FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.545%
Next $750 million....................... 0.42%
Next $1 billion......................... 0.395%
Over $2 billion......................... 0.37%
INVESCO V.I. GLOBAL CORE EQUITY FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $1 billion........................ 0.67%
Next $500 million....................... 0.645%
Next $1 billion......................... 0.62%
Next $1 billion......................... 0.595%
Next $1 billion......................... 0.57%
Over $4.5 billion....................... 0.545%
INVESCO V.I. S&P 500 INDEX FUND
INVESCO V.I. EQUALLY-WEIGHTED S&P 500 FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $2 billion........................ 0.12%
Over $2 billion......................... 0.10%
INVESCO V.I. AMERICAN FRANCHISE FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million...................... 0.695%
Next $250 million....................... 0.67%
Next $500 million....................... 0.645%
Next $550 million....................... 0.62%
Next $3.45 billion...................... 0.60%
Next $250 million....................... 0.595%
Next $2.25 billion...................... 0.57%
Next $2.5 billion....................... 0.545%
Over $10 billion........................ 0.52%
INVESCO V.I. XXXXXXXX FUND
INVESCO V.I. GROWTH AND INCOME FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $500 million...................... 0.60%
Over $500 million....................... 0.55%
4
INVESCO V.I. EQUITY AND INCOME FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $150 million...................... 0.50%
Next $100 million....................... 0.45%
Next $100 million....................... 0.40%
Over $350 million....................... 0.35%
INVESCO V.I. MID CAP GROWTH FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $500 million...................... 0.75%
Next $500 million....................... 0.70%
Over $1 billion......................... 0.65%
INVESCO V.I. AMERICAN VALUE FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $1 billion........................ 0.72%
Over $1 billion......................... 0.65%"
2. In all other respects, the Agreement is hereby confirmed and remains in full
force and effect.
5
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by
their respective officers on the date first written above.
AIM VARIABLE INSURANCE FUNDS
(INVESCO VARIABLE INSURANCE FUNDS)
Attest: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxx X. Xxxx
--------------------- --------------------------
Assistant Secretary Xxxx X. Xxxx
Senior Vice President
(SEAL)
INVESCO ADVISERS, INC.
Attest: /s/ Xxxxx Xxxxxxxx By: /s/ Xxxx X. Xxxx
--------------------- --------------------------
Assistant Secretary Xxxx X. Xxxx
Senior Vice President
(SEAL)
6
Sub-Item 77Q1(e)
AMENDMENT NO. 11
TO
MASTER INTERGROUP SUB-ADVISORY CONTRACT FOR MUTUAL FUNDS
This Amendment effective as of April 30, 2014, amends the Master Intergroup
Sub-Advisory Contract for Mutual Funds (the "Contract"), dated May 1, 2008,
between Invesco Advisers, Inc. (the "Adviser"), on behalf of AIM Variable
Insurance Funds (Invesco Variable Insurance Funds), and each of Invesco Canada
Ltd., Invesco Asset Management Deutschland GmbH, Invesco Asset Management
Limited, Invesco Asset Management (Japan) Ltd., Invesco Australia Limited,
Invesco Hong Kong Limited, and Invesco Senior Secured Management, Inc. (each a
"Sub-Adviser" and, collectively, the "Sub-Advisers").
W I T N E S S E T H:
WHEREAS, the parties desires to change the name of Invesco V.I. Utilities
Fund to Invesco V.I. Managed Volatility Fund;
NOW, THEREFORE, the parties agree that;
1. Exhibit A to the Contract is hereby deleted in its entirety and replaced
with the following:
"EXHIBIT A
Invesco V.I. Balanced-Risk Allocation Fund Invesco V.I. Managed Volatility Fund
Invesco V.I. Core Equity Fund Invesco V.I. Diversified Dividend Fund
Invesco V.I. Diversified Income Fund Invesco V.I. S&P 500 Index Fund
Invesco V.I. Global Health Care Fund Invesco V.I. Equally-Weighted S&P 500 Fund
Invesco V.I. Global Real Estate Fund Invesco V.I. American Franchise Fund
Invesco V.I. Government Securities Fund Invesco V.I. American Value Fund
Invesco V.I. High Yield Fund Invesco V.I. Xxxxxxxx Fund
Invesco V.I. International Growth Fund Invesco V.I. Equity and Income Fund
Invesco V.I. Mid Cap Core Equity Fund Invesco V.I. Global Core Equity Fund
Invesco V.I. Money Market Fund Invesco V.I. Growth and Income Fund
Invesco V.I. Small Cap Equity Fund Invesco V.I. Mid Cap Growth Fund
Invesco V.I. Technology Fund Invesco V.I. Value Opportunities Fund"
2. All other terms and provisions of the Contract not amended shall remain
in full force and effect.
IN WITNESS WHEREOF, the parties hereto have caused this Contract to be
executed by their officers designated as of the day and year first above
written.
INVESCO ADVISERS, INC.
Adviser
By: /s/ Xxxx X. Xxxx
----------------------------------------
Name: Xxxx X. Xxxx
Title: Senior Vice President
2
INVESCO CANADA LTD.
Sub-Adviser
By: /s/ Xxxxx X. Xxxxxx
----------------------------------------
Name: Xxxxx X. Xxxxxx
Title: Executive Vice President &
Chief Financial Officer
By: /s/ Harsh Damani
----------------------------------------
Name: Harsh Damani
Title: Senior Vice President, Fund
Administration & Chief Financial
Officer, Funds
3
INVESCO ASSET MANAGEMENT DEUTSCHLAND GMBH
Sub-Adviser
By: /s/ X. Xxxxxxxxx /s/ X. Xxxxxx
----------------------------------------
Name: X. Xxxxxxxxx X. Xxxxxx
Title: Managing Director Procurator
4
INVESCO ASSET MANAGEMENT LIMITED
Sub-Adviser
By: /s/ Xxxx Xxxxxxx
----------------------------------------
Name: Xxxx Xxxxxxx
Title: Director
5
INVESCO ASSET MANAGEMENT (JAPAN) LTD.
Sub-Adviser
By: /s/ Xxxxxxxx Xxxxxxxx
----------------------------------------
Name: Xxxxxxxx Xxxxxxxx
Title: Managing Director
6
INVESCO AUSTRALIA LIMITED
Sub-Adviser
By: /s/ Xxxx Xxxxxxx /s/ Xxxx Xxxxxxx
----------------------------------------
Name: Xxxx Xxxxxxx Xxxx Xxxxxxx
Title: Company Xxxxxxxxx Xxxxxxxx
0
XXXXXXX XXXX XXXX LIMITED
Sub-Adviser
By: /s/ Xxxxxxx Xx /s/ Xxxxx Xxx
----------------------------------------
Name: Xxxxxxx Xx Xxxxx Xxx
Title: Director Director
8
INVESCO SENIOR SECURED MANAGEMENT, INC.
Sub-Adviser
By: /s/ Xxxxxxx X. Xxxxx
----------------------------------------
Name: Xxxxxxx X. Xxxxx
Title: Secretary & General Counsel
9
