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 the Trusts and Invesco have agreed to continue them.
The Exhibits will be amended to reflect any such agreement.
For the Voluntary Limits (listed in Exhibits A - D), 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
after consultation with the Funds' Boards of Trustees. Any delay or failure by
Invesco to update this Memorandum of Agreement with regards to the
terminations, extensions, or expirations of the Voluntary Limits shall have no
effect on the term of such Voluntary Limitations; the Voluntary Limitations are
listed herein for informational purposes only.
It is expressly agreed that the obligations of each Trust hereunder shall
not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Trusts personally, but shall only bind the assets
and property of each Fund, as provided in each Trust's Agreement and
Declaration of Trust. The execution and delivery of this Memorandum of
Agreement have been authorized by the Trustees of the Trusts, and this
Memorandum of Agreement has been executed and delivered by an authorized
officer of the Trusts acting as such; neither such authorization by such
Trustees nor such execution and delivery by such officer shall be deemed to
have been made by any of them individually or to impose any liability on any of
them personally, but shall bind only the assets and property of the Funds, as
provided in each Trust's Agreement and Declaration of Trust.
IN WITNESS WHEREOF, each of the Trusts and Invesco have entered into this
Memorandum of Agreement as of the Effective Dates on the attached Exhibits.
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
INVESCO 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 February 6, 2013
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 1.05% May 23, 2011 June 30, 2013
Class B Shares Contractual 1.22%/2/ May 23, 2011 June 30, 2013
Class C Shares Contractual 1.80% May 23, 2011 June 30, 2013
Class R Shares Contractual 1.30% May 23, 2011 June 30, 2013
Class R5 Shares Contractual 0.80% May 23, 2011 June 30, 2013
Class R6 Shares Contractual 0.80% September 24, 2012 June 30, 2013
Class Y Shares Contractual 0.80% May 23, 2011 June 30, 2013
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, 2013
Class B Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
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 Equally-Weighted S&P 500 Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Invesco Equity and Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco Floating Rate Fund
Class A Shares Contractual 1.50% April 14, 2006 June 30, 2013
Class C Shares Contractual 2.00% April 14, 2006 June 30, 2013
Class R Shares Contractual 1.75% April 14, 2006 June 30, 2013
Class R5 Shares Contractual 1.25% April 14, 2006 June 30, 2013
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.25% October 3, 2008 June 30, 2013
See page 15 for footnotes to Exhibit A.
3
as of February 6, 2013
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, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Invesco Growth and Income Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 0000
Xxxxxxx Xxxxxxxxxxxx Tax Free Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco S&P 500 Index Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Invesco Small Cap Discovery Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 0000
Xxxxxxx X.X. Quantitative Core Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2013
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, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class S Shares Contractual 1.90% September 25, 2009 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
See page 15 for footnotes to Exhibit A.
4
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Constellation Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Invesco Disciplined Equity Fund
Class Y Shares Contractual 1.75% July 14, 2009 June 30, 2013
Invesco Diversified Dividend Fund
Class A Shares Contractual 0.95% July 18, 2011 June 30, 2013
Class B Shares Contractual 1.70% July 18, 2011 June 30, 2013
Class C Shares Contractual 1.70% July 18, 2011 June 30, 2013
Class R Shares Contractual 1.20% July 18, 2011 June 30, 2013
Class R5 Shares Contractual 0.70% July 18, 2011 June 30, 2013
Class R6 Shares Contractual 0.70% September 24, 2012 June 30, 2013
Class Y Shares Contractual 0.70% July 18, 2011 June 30, 2013
Investor Class Shares Contractual 0.95% July 18, 2011 June 30, 2013
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, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class P Shares Contractual 1.85% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class S Shares Contractual 1.90% September 25, 2009 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco European Small Company Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2013
Invesco Global Core Equity Fund
Class A Shares Contractual 1.25% May 23, 2011 June 30, 2013
Class B Shares Contractual 1.52%/2/ May 23, 2011 June 30, 2013
Class C Shares Contractual 2.00% May 23, 2011 June 30, 2013
Class R Shares Contractual 1.50% May 23, 2011 June 30, 2013
Class R5 Shares Contractual 1.00% May 23, 2011 June 30, 2013
Class Y Shares Contractual 1.00% May 23, 2011 June 30, 2013
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
See page 15 for footnotes to Exhibit A.
5
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco International Small Company Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 2.00% September 24, 2012 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2013
Invesco Small Cap Equity Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco Balanced-Risk Retirement 2020 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2014
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2014
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2014
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2014
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2014
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2014
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2014
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2014
Invesco Balanced-Risk Retirement 2030 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2014
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2014
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2014
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2014
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2014
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2014
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2014
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2014
Invesco Balanced-Risk Retirement 2040 Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2014
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2014
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2014
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2014
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2014
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2014
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2014
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2014
See page 15 for footnotes to Exhibit A.
6
as of February 6, 2013
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, 2014
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2014
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2014
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2014
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2014
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2014
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2014
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2014
Invesco Balanced-Risk Retirement Now Fund
Class A Shares Contractual 0.25% November 4, 2009 April 30, 2014
Class AX Shares Contractual 0.25% February 12, 2010 April 30, 2014
Class B Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class C Shares Contractual 1.00% November 4, 2009 April 30, 2014
Class CX Shares Contractual 1.00% February 12, 2010 April 30, 2014
Class R Shares Contractual 0.50% November 4, 2009 April 30, 2014
Class R5 Shares Contractual 0.00% November 4, 2009 April 30, 2014
Class R6 Shares Contractual 0.00% September 24, 2012 April 30, 2014
Class RX Shares Contractual 0.50% February 12, 2010 April 30, 2014
Class Y Shares Contractual 0.00% November 4, 2009 April 30, 2014
Invesco Conservative Allocation Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class S Shares Contractual 1.40% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco Convertible Securities Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco Global Quantitative Core Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.50% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2013
Invesco Growth Allocation Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class S Shares Contractual 1.90% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
See page 15 for footnotes to Exhibit A.
7
as of February 6, 2013
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, 2014
Class B Shares Contractual 1.00% May 1, 2012 April 30, 2014
Class C Shares Contractual 1.00% May 1, 2012 April 30, 2014
Class R Shares Contractual 0.50% May 1, 2012 April 30, 2014
Class R5 Shares Contractual 0.00% May 1, 2012 April 30, 2014
Class Y Shares Contractual 0.00% May 1, 2012 April 30, 2014
Invesco International Allocation Fund
Class A Shares Contractual 2.25% May 1, 2012 June 30, 2013
Class B Shares Contractual 3.00% May 1, 2012 June 30, 2013
Class C Shares Contractual 3.00% May 1, 2012 June 30, 2013
Class R Shares Contractual 2.50% May 1, 2012 June 30, 2013
Class R5 Shares Contractual 2.00% May 1, 2012 June 30, 2013
Class Y Shares Contractual 2.00% May 1, 2012 June 30, 2013
Invesco Leaders Fund
Class A Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class B Shares Contractual 3.00% July 1, 2012 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2012 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2012 June 30, 2013
Invesco Mid Cap Core Equity Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Invesco Moderate Allocation Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class S Shares Contractual 1.40% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco Small Cap Growth Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
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, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
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, 2013
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2013
See page 15 for footnotes to Exhibit A.
8
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco European Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class B Shares Contractual 3.00% July 1, 2009 June 30. 2013
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.50% July 1, 2009 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2013
Investor Class Shares Contractual 2.25% July 1, 2009 June 30, 2013
Invesco Global Growth Fund
Class A Shares Contractual 1.32% December 19, 2011 December 31, 2012
Class B Shares Contractual 2.07% December 19, 2011 December 31, 2012
Class C Shares Contractual 2.07% December 19, 2011 December 31, 2012
Class R5 Shares Contractual 1.07% December 19, 2011 December 31, 2012
Class R6 Shares Contractual 1.07% September 24, 2012 December 31, 2012
Class Y Shares Contractual 1.07% December 19, 2011 December 31, 2012
Invesco Global Growth Fund
Class A Shares Contractual 2.25% January 1, 2013 June 30, 2013
Class B Shares Contractual 3.00% January 1, 2013 June 30. 2013
Class C Shares Contractual 3.00% January 1, 2013 June 30, 2013
Class R5 Shares Contractual 2.00% January 1, 2013 June 30, 2013
Class R6 Shares Contractual 2.00% January 1, 2013 June 30, 2013
Class Y Shares Contractual 2.00% January 1, 2013 June 30, 2013
Invesco Global Opportunities Fund
Class A Shares Contractual 1.36% August 1, 2012 February 28, 2014
Class C Shares Contractual 2.11% August 1, 2012 February 28, 2014
Class R Shares Contractual 1.61% August 1, 2012 February 28, 2014
Class R5 Shares Contractual 1.11% August 1, 2012 February 28, 2014
Class R6 Shares Contractual 1.11% September 24, 2012 February 28, 2014
Class Y Shares Contractual 1.11% August 1, 2012 February 28, 2014
Invesco Select Opportunities Fund
Class A Shares Contractual 1.51% August 1, 2012 February 28, 2014
Class C Shares Contractual 2.26% August 1, 2012 February 28, 2014
Class R Shares Contractual 1.76% August 1, 2012 February 28, 2014
Class R5 Shares Contractual 1.26% August 1, 2012 February 28, 2014
Class R6 Shares Contractual 1.26% September 24, 2012 February 28, 2014
Class Y Shares Contractual 1.26% August 1, 2012 February 28, 2014
Invesco Global Small & Mid Cap Growth Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30. 2013
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2013
Invesco International Core Equity Fund
Class A Shares Contractual 2.25% July 1, 2009 June 30. 2013
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.50% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 2.00% September 24, 2012 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2013
Investor Class Shares Contractual 2.25% July 1, 2009 June 30, 2013
Invesco International Growth Fund
Class A Shares Contractual 1.40% May 23, 2011 June 30, 2013
Class B Shares Contractual 2.15% May 23, 2011 June 30, 2013
Class C Shares Contractual 2.15% May 23, 2011 June 30, 2013
Class R Shares Contractual 1.65% May 23, 2011 June 30, 2013
Class R5 Shares Contractual 1.15% May 23, 2011 June 30, 2013
Class R6 Shares Contractual 1.15% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.15% May 23, 2011 June 30, 2013
See page 15 for footnotes to Exhibit A.
9
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
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
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -----------------
Invesco Balanced-Risk Allocation Fund/3/
Class A Shares Contractual 2.00% July 1, 2012 June 30. 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
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, 2013
Class B Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2009 June 30, 2013
Invesco Developing Markets Fund
Class A Shares Contractual 2.25% July 1, 2012 June 30. 2013
Class B Shares Contractual 3.00% July 1, 2012 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 2.00% September 24, 2012 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2012 June 30, 2013
Invesco Emerging Market Local Currency Debt Fund
Class A Shares Contractual 1.24% June 14, 2010 February 28, 2014
Class B Shares Contractual 1.99% June 14, 2010 February 28, 2014
Class C Shares Contractual 1.99% June 14, 2010 February 28, 2014
Class R Shares Contractual 1.49% June 14, 2010 February 28, 2014
Class Y Shares Contractual 0.99% June 14, 2010 February 28, 2014
Class R5 Shares Contractual 0.99% June 14, 2010 February 28, 2014
Class R6 Shares Contractual 0.99% September 24, 2012 February 28, 2014
Invesco Emerging Markets Equity Fund
Class A Shares Contractual 1.85% May 11, 2011 February 28, 2014
Class C Shares Contractual 2.60% May 11, 2011 February 28, 2014
Class R Shares Contractual 2.10% May 11, 2011 February 28, 2014
Class R5 Shares Contractual 1.60% May 11, 2011 February 28, 2014
Class R6 Shares Contractual 1.60% September 24, 2012 February 28, 2014
Class Y Shares Contractual 1.60% May 11, 2011 February 28, 2014
See page 15 for footnotes to Exhibit A.
10
as of February 6, 2013
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. 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Invesco Global Health Care Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30. 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2013
Invesco Global Markets Strategy Fund/5/
Class H1 Shares Contractual 2.00% September 25, 2012 February 28, 2014
Invesco International Total Return Fund
Class A Shares Contractual 1.10% March 31, 2006 February 28, 2014
Class B Shares Contractual 1.85% March 31, 2006 February 28, 2014
Class C Shares Contractual 1.85% March 31, 2006 February 28, 2014
Class R5 Shares Contractual 0.85% October 3, 2008 February 28, 2014
Class R6 Shares Contractual 0.85% September 24, 2012 February 28, 2014
Class Y Shares Contractual 0.85% March 31, 2006 February 28, 2014
Invesco Pacific Growth Fund
Class A Shares Contractual 2.25% July 1, 2012 June 30. 2013
Class B Shares Contractual 3.00% July 1, 2012 June 30, 2013
Class C Shares Contractual 3.00% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.50% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class Y Shares Contractual 2.00% July 1, 2012 June 30, 2013
Invesco Premium Income Fund
Class A Shares Contractual 0.89% December 13, 2011 February 28, 2014
Class C Shares Contractual 1.64% December 13, 2011 February 28, 2014
Class R Shares Contractual 1.14% December 13, 2011 February 28, 2014
Class R5 Shares Contractual 0.64% December 13, 2011 February 28, 2014
Class R6 Shares Contractual 0.64% September 24, 2012 February 28, 2014
Class Y Shares Contractual 0.64% December 13, 2011 February 28, 2014
Invesco Select Companies Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30. 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
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, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 1.25% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
See page 15 for footnotes to Exhibit A.
11
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Dynamics Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30. 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2009 June 30. 2013
Invesco Global Real Estate Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Invesco High Yield Fund
Class A Shares Contractual 0.89% June 6, 2011 June 30, 2013
Class B Shares Contractual 1.64% June 6, 2011 June 30, 2013
Class C Shares Contractual 1.64% June 6, 2011 June 30, 2013
Class R5 Shares Contractual 0.64% June 6, 2011 June 30, 2013
Class R6 Shares Contractual 0.64% September 24, 2012 June 30, 2013
Class Y Shares Contractual 0.64% June 6, 2011 June 30, 2013
Investor Class Shares Contractual 0.89% June 6, 2011 June 30, 2013
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 High Yield Securities Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.10% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco Limited Maturity Treasury Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class A2 Shares Contractual 1.40% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco Municipal Bond Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Investor Class Shares Contractual 1.50% July 1, 2012 June 30, 2013
Invesco Real Estate Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2013
See page 15 for footnotes to Exhibit A.
12
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
Invesco Short Term Bond Fund
Class A Shares Contractual 0.56% June 6, 2011 June 30, 2013
Class C Shares Contractual 0.91%/2/ March 4, 2009 June 30, 2013
Class R Shares Contractual 0.91% March 4, 2009 June 30, 2013
Class R5 Shares Contractual 0.41% March 4, 2009 June 30, 2013
Class R6 Shares Contractual 0.41% September 24, 2012 June 30, 2013
Class Y Shares Contractual 0.41% March 4, 2009 June 30, 0000
Xxxxxxx X.X. Government Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Investor Class Shares Contractual 1.50% July 1, 2012 June 30, 2013
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 1.25% April 30, 2012 June 30, 2013
Class B Shares Contractual 2.00% April 30, 2012 June 30, 2013
Class C Shares Contractual 2.00% April 30, 2012 June 30, 2013
Class R Shares Contractual 1.50% April 30, 2012 June 30, 2013
Class R5 Shares Contractual 1.00% April 30, 2012 June 30, 2013
Class R6 Shares Contractual 1.00% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.00% April 30, 2012 June 30, 2013
Invesco Xxxxxxxx Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class R6 Shares Contractual 1.75% September 24, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Invesco Energy Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2009 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2013
Invesco Gold & Precious Metals Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2013
Invesco Leisure Fund
Class A Shares Contractual 2.00% July 1, 2009 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2009 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2009 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2009 June 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2009 June 30, 2013
See page 15 for footnotes to Exhibit A.
13
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -----------------
Invesco Mid Cap Growth Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Invesco Small Cap Value Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Invesco Technology Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
Investor Class Shares Contractual 2.00% July 1, 2012 June 30, 2013
Invesco Technology Sector Fund
Class A Shares Contractual 2.00% February 12, 2010 June 30, 2013
Class B Shares Contractual 2.75% February 12, 2010 June 30, 2013
Class C Shares Contractual 2.75% February 12, 2010 June 30, 2013
Class Y Shares Contractual 1.75% February 12, 2010 June 30, 2013
Invesco Dividend Income Fund
Class A Shares Contractual 1.10% February 6, 2013 February 28, 2014
Class B Shares Contractual 1.85% February 6, 2013 February 28, 2014
Class C Shares Contractual 1.85% February 6, 2013 February 28, 2014
Class R5 Shares Contractual 0.85% February 6, 2013 February 28, 2014
Class R6 Shares Contractual 0.85% February 6, 2013 February 28, 2014
Class Y Shares Contractual 0.85% February 6, 2013 February 28, 2014
Investor Class Shares Contractual 1.10% February 6, 2013 February 28, 2014
Invesco Value Opportunities Fund
Class A Shares Contractual 2.00% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.75% July 1, 2012 June 30, 2013
Class R Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.75% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.75% July 1, 2012 June 30, 2013
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, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco Intermediate Term Municipal Income Fund
Class A Shares Contractual 0.75% June 6, 2011 June 30, 2013
Class B Shares Contractual 1.50% June 6, 2011 June 30, 2013
Class C Shares Contractual 1.50% June 6, 2011 June 30, 2013
Class Y Shares Contractual 0.50% June 6, 2011 June 30, 2013
See page 15 for footnotes to Exhibit A.
14
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Invesco Municipal Income Fund
Class A Shares Contractual 0.83% June 6, 2011 June 30, 2013
Class B Shares Contractual 1.58% June 6, 2011 June 30, 2013
Class C Shares Contractual 1.58% June 6, 2011 June 30, 2013
Class Y Shares Contractual 0.58% June 6, 2011 June 30, 2013
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
Invesco New York Tax Free Income Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class B Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class C Shares Contractual 2.25% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
Invesco Tax-Free Intermediate Fund
Class A Shares Contractual 1.50% July 1, 2012 June 30, 2013
Class A2 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class R5 Shares Contractual 1.25% July 1, 2012 June 30, 2013
Class Y Shares Contractual 1.25% July 1, 2012 June 30, 2013
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, 2014
/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.
15
as of February 6, 2013
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, 2013
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2013
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2013
Personal Investment Class Contractual 0.69%/2/ July 1, 2009 December 31, 2013
Private Investment Class Contractual 0.44%/2/ July 1, 2009 December 31, 2013
Reserve Class Contractual 1.01%/2/ July 1, 2009 December 31, 2013
Resource Class Contractual 0.30%/2/ July 1, 2009 December 31, 2013
Government TaxAdvantage Portfolio
Cash Management Class Contractual 0.22%/2/ July 1, 2009 December 31, 2013
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2013
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2013
Personal Investment Class Contractual 0.69%/2/ July 1, 2009 December 31, 2013
Private Investment Class Contractual 0.39%/2/ July 1, 2009 December 31, 2013
Reserve Class Contractual 1.01%/2/ July 1, 2009 December 31, 2013
Resource Class Contractual 0.30%/2/ July 1, 2009 December 31, 2013
Liquid Assets Portfolio
Cash Management Class Contractual 0.22%/2/ July 1, 2009 December 31, 2013
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2013
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2013
Personal Investment Class Contractual 0.69%/2/ July 1, 2009 December 31, 2013
Private Investment Class Contractual 0.44%/2/ July 1, 2009 December 31, 2013
Reserve Class Contractual 1.01%/2/ July 1, 2009 December 31, 2013
Resource Class Contractual 0.34% July 1, 2009 December 31, 2013
STIC Prime Portfolio
Cash Management Class Contractual 0.22%/2/ July 1, 2009 December 31, 2013
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2013
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2013
Personal Investment Class Contractual 0.69%/2/ July 1, 2009 December 31, 2013
Private Investment Class Contractual 0.44%/2/ July 1, 2009 December 31, 2013
Reserve Class Contractual 1.01%/2/ July 1, 2009 December 31, 2013
Resource Class Contractual 0.30%/2/ July 1, 2009 December 31, 2013
Tax-Free Cash Reserve Portfolio/3/
Cash Management Class Contractual 0.33%/2/ July 1, 2009 December 31, 2013
Corporate Class Contractual 0.28% July 1, 2009 December 31, 2013
Institutional Class Contractual 0.25% July 1, 2009 December 31, 2013
Personal Investment Class Contractual 0.80%/2/ July 1, 2009 December 31, 2013
Private Investment Class Contractual 0.50%/2/ July 1, 2009 December 31, 2013
Reserve Class Contractual 1.12%/2/ July 1, 2009 December 31, 2013
Resource Class Contractual 0.41%/2/ July 1, 2009 December 31, 2013
Treasury Portfolio
Cash Management Class Contractual 0.22%/2/ July 1, 2009 December 31, 2013
Corporate Class Contractual 0.17% July 1, 2009 December 31, 2013
Institutional Class Contractual 0.14% July 1, 2009 December 31, 2013
Personal Investment Class Contractual 0.69%/2/ July 1, 2009 December 31, 2013
Private Investment Class Contractual 0.44%/2/ July 1, 2009 December 31, 2013
Reserve Class Contractual 1.01%/2/ July 1, 2009 December 31, 2013
Resource Class Contractual 0.30%/2/ July 1, 2009 December 31, 2013
/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.
16
as of February 6, 2013
EXHIBIT "C" - VARIABLE INSURANCE FUNDS
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- --------------
Invesco V.I. Balanced-Risk Allocation Fund/1/
Series I Shares Contractual 0.72% May 15, 2012 June 30, 2013
Series II Shares Contractual 0.97% May 15, 2012 June 30, 2013
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. Core Equity Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2013
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2013
Invesco V.I. 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 0.77% July 1, 2012 April 30, 2013
Series II Shares Contractual 1.02% July 1, 2012 April 30, 2013
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, 2014
Series II Shares Contractual 1.00% July 1, 2005 April 30, 2014
Invesco V.I. Equally-Weighted S&P 500 Fund
Series I Shares Contractual 2.00% July 1, 2012 June 30, 2013
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2013
Invesco V.I. Global Core Equity Fund
Series I Shares Contractual 2.25% July 1, 2012 June 30, 2013
Series II Shares Contractual 2.50% July 1, 2012 June 30, 2013
--------
/1/ Includes waived fees or reimbursed expenses that Invesco receives from
Invesco Cayman Commodity Fund IV, Ltd.
17
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
Invesco V.I. Global Health Care Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2013
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2013
Invesco V.I. Global 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 1.30% April 30, 2004 April 30, 2013
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2013
Invesco V.I. Global Real Estate Fund
Series I Shares Contractual 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 0.70% July 1, 2012 April 30, 2013
Series II Shares Contractual 0.95% July 1, 2012 April 30, 2013
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. 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. High Yield Securities Fund
Series I Shares Contractual 1.50% July 1, 2012 June 30, 2013
Series II Shares Contractual 1.75% July 1, 2012 June 30, 2013
Invesco V.I. International Growth Fund
Series I Shares Contractual 2.25% July 1, 2012 June 30, 2013
Series II Shares Contractual 2.50% July 1, 2012 June 30, 2013
Invesco V.I. Mid Cap Core Equity Fund
Series I Shares Contractual 1.30% September 10, 2001 April 30, 2013
Series II Shares Contractual 1.45% September 10, 2001 April 30, 2013
Invesco V.I. 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
18
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- --------------
Invesco V.I. Money Market Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2013
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2013
Invesco V.I. 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, 2013
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2013
Invesco V.I. Small Cap Equity Fund
Series I Shares Contractual 1.15% July 1, 2005 April 30, 2013
Series II Shares Contractual 1.40% July 1, 2005 April 30, 2013
Invesco V.I. 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
Invesco V.I. Technology Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2013
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2013
Invesco V.I. 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, 2013
Series II Shares Contractual 2.25% May 1, 2012 June 30, 2013
Invesco Xxx Xxxxxx 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 Xxx Xxxxxx V.I. American Value Fund
Series I Shares Contractual 2.00% July 1, 2012 June 30, 2013
Series II Shares Contractual 2.25% July 1, 2012 June 30, 2013
Invesco Xxx Xxxxxx V.I. Xxxxxxxx Fund
Series I Shares Contractual 0.72% July 1, 2012 April 30, 2013
Series II Shares Contractual 0.97% July 1, 2012 April 30, 2013
19
as of February 6, 2013
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- --------------
Invesco Xxx Xxxxxx V.I. Xxxxxxxx Fund
Series I Shares Contractual 0.78% May 1. 2013 April 30, 2014
Series II Shares Contractual 1.03% May 1, 2013 April 30, 2014
Invesco Xxx Xxxxxx V.I. Equity and Income Fund
Series I Shares Contractual 1.50% July 1, 2012 June 30, 2013
Series II Shares Contractual 1.75% July 1, 2012 June 30, 2013
Invesco Xxx Xxxxxx V.I. Growth and Income Fund
Series I Shares Contractual 0.72% July 1, 2012 April 30, 2013
Series II Shares Contractual 0.97% July 1, 2012 April 30, 2013
Invesco Xxx Xxxxxx V.I. Growth and Income Fund
Series I Shares Contractual 0.78% May 1. 2013 April 30, 2014
Series II Shares Contractual 1.03% May 1, 2013 April 30, 2014
Invesco Xxx Xxxxxx 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 Xxx Xxxxxx V.I. Value Opportunities Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2013
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2013
Invesco Xxx Xxxxxx 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
20
as of February 6, 2013
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)
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, 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 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 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 the Trusts and Invesco have 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
SHORT-TERM INVESTMENTS 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 EQUITY FUNDS
(INVESCO EQUITY EFFECTIVE EXPIRATION
FUNDS) WAIVER DESCRIPTION DATE DATE
-------------------- -------------------------------- --------- ----------
Invesco Invesco will waive advisory 3/27/2006 07/15/2013
Constellation fees to the extent necessary so
Fund that advisory fees Invesco
receives do not exceed the
annualized rates listed below.
0.695% of the first $250M
0.615% of the next $4B
0.595% of the next $750M
0.57% of the next $2.5B
0.545% of the next $2.5B
0.52% of the excess over $10B
AIM TREASURER'S
SERIES TRUST
(INVESCO TREASURER'S EFFECTIVE EXPIRATION
SERIES TRUST) WAIVER DESCRIPTION DATE DATE
-------------------- -------------------------------- --------- ----------
Premier Portfolio Invesco will waive advisory 2/1/2011 12/31/2013
fees in the amount of 0.07% of
the Fund's average daily net
assets
Premier U.S. Invesco will waive advisory 2/1/2011 12/31/2013
Government fees in the amount of 0.07% of
Money Portfolio the Fund's average daily net
assets
EXHIBIT "B"
AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
PORTFOLIO EFFECTIVE DATE COMMITTED UNTIL
--------- ----------------- ---------------
Invesco American Franchise Fund February 12, 2010 June 30, 0000
Xxxxxxx Xxxxxxxxxx Tax-Free Income Fund February 12, 2010 June 30, 2013
Invesco Core Plus Bond Fund June 2, 2009 June 30, 2013
Invesco Equally-Weighted S&P 500 Fund February 12, 2010 June 30, 2013
Invesco Equity and Income Fund February 12, 2010 June 30, 2013
Invesco Floating Rate Fund July 1, 2007 June 30, 2013
Invesco Global Real Estate Income Fund July 1, 2007 June 30, 2013
Invesco Growth and Income Fund February 12, 2010 June 30, 0000
Xxxxxxx Xxxxxxxxxxxx Tax Free Income Fund February 12, 2010 June 30, 2013
Invesco S&P 500 Index Fund February 12, 2010 June 30, 2013
Invesco Small Cap Discovery Fund February 12, 2010 June 30, 0000
Xxxxxxx X.X. Quantitative Core Fund July 1, 2007 June 30, 2013
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
PORTFOLIO EFFECTIVE DATE COMMITTED UNTIL
--------- -------------- ---------------
Invesco Charter Fund July 1, 2007 June 30, 2013
Invesco Constellation Fund July 1, 2007 June 30, 2013
Invesco Disciplined Equity Fund July 14, 2009 June 30, 2013
Invesco Diversified Dividend Fund July 1, 2007 June 30, 0000
Xxxxxxx Xxxxxx Fund July 1, 2007 June 30, 2013
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- -------------- ---------------
Invesco European Small Company Fund July 1, 2007 June 30, 2013
Invesco Global Core Equity Fund July 1, 2007 June 30, 2013
Invesco International Small Company Fund July 1, 2007 June 30, 2013
Invesco Small Cap Equity Fund July 1, 2007 June 30, 2013
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco Convertible Securities Fund February 12, 2010 June 30, 2013
Invesco Global Quantitative Core Fund July 1, 2007 June 30, 2013
Invesco Leaders Fund February 12, 2010 June 30, 2013
Invesco Mid Cap Core Equity Fund July 1, 2007 June 30, 2013
Invesco Small Cap Growth Fund July 1, 2007 June 30, 0000
Xxxxxxx X.X. Mortgage Fund February 12, 2010 June 30, 2013
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- -------------- ---------------
Invesco Asia Pacific Growth Fund July 1, 2007 June 30, 2013
Invesco European Growth Fund July 1, 2007 June 30, 2013
Invesco Global Growth Fund July 1, 2007 June 30, 2013
Invesco Global Opportunities Fund August 3, 2012 June 30, 2013
Invesco Global Small & Mid Cap Growth Fund July 1, 2007 June 30, 2013
Invesco International Growth Fund July 1, 2007 June 30, 2013
Invesco International Core Equity Fund July 1, 2007 June 30, 2013
Invesco Select Opportunities Fund August 3, 2012 June 30, 2013
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ------------------ ---------------
Invesco Balanced-Risk Allocation Fund* May 29, 2009 June 30, 2013
Invesco Balanced-Risk Commodity Strategy
Fund** November 29, 2010 June 30, 2013
Invesco China Fund July 1, 2007 June 30, 2013
Invesco Commodities Strategy Fund*** February 12, 2010 June 30, 2013
Invesco Developing Markets Fund July 1, 2007 June 30, 2013
Invesco Emerging Markets Equity Fund May 11, 2011 June 30, 2013
Invesco Emerging Market Local Currency Debt
Fund June 14, 2010 June 30, 2013
Invesco Endeavor Fund July 1, 2007 June 30, 2013
Invesco Global Health Care Fund July 1, 2007 June 30, 2013
Invesco Global Markets Strategy Fund September 25, 2012 June 30, 2013
Invesco International Total Return Fund July 1, 2007 June 30, 2013
Invesco Pacific Growth Fund February 12, 2010 June 30, 2013
Invesco Premium Income Fund December 13, 2011 June 30, 2013
Invesco Select Companies Fund July 1, 2007 June 30, 2013
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco Corporate Bond Fund February 12, 2010 June 30, 2013
Invesco Dynamics Fund July 1, 2007 June 30, 2013
Invesco Global Real Estate Fund July 1, 2007 June 30, 2013
Invesco High Yield Fund July 1, 2007 June 30, 2013
Invesco High Yield Securities Fund February 12, 2010 June 30, 2013
Invesco Limited Maturity Treasury Fund July 1, 2007 June 30, 2013
Invesco Money Market Fund July 1, 2007 June 30, 2013
Invesco Municipal Bond Fund July 1, 2007 June 30, 2013
Invesco Real Estate Fund July 1, 2007 June 30, 2013
Invesco Short Term Bond Fund July 1, 2007 June 30, 0000
Xxxxxxx X.X. Government Fund July 1, 2007 June 30, 2013
--------
* 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.
** 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.
*** Advisory fees to be waived by Invesco for Invesco Commodities 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 II, Ltd. Invests.
SUB-ITEM 77Q1(e)
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco American Value Fund February 12, 2010 June 30, 2013
Invesco Xxxxxxxx Fund February 12, 2010 June 30, 2013
Invesco Energy Fund July 1, 2007 June 30, 2013
Invesco Gold & Precious Metals Fund July 1, 2007 June 30, 2013
Invesco Leisure Fund July 1, 2007 June 30, 2013
Invesco Mid Cap Growth Fund February 12, 2010 June 30, 2013
Invesco Small Cap Value Fund February 12, 2010 June 30, 2013
Invesco Technology Fund July 1, 2007 June 30, 2013
Invesco Technology Sector Fund February 12, 2010 June 30, 2013
Invesco Utilities Fund July 1, 2007 June 30, 2013
Invesco Value Fund February 12, 2010 June 30, 2013
Invesco Value Opportunities Fund February 12, 2010 June 30, 2013
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco High Yield Municipal Fund February 12, 2010 June 30, 2013
Invesco Intermediate Term Municipal Income
Fund February 12, 2010 June 30, 2013
Invesco Municipal Income Fund February 12, 2010 June 30, 2013
Invesco New York Tax Free Income Fund February 12, 2010 June 30, 2013
Invesco Tax-Exempt Cash Fund July 1, 2007 June 30, 2013
Invesco Tax-Free Intermediate Fund July 1, 2007 June 30, 2013
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
FUND EFFECTIVE DATE COMMITTED UNTIL
---- ----------------- ---------------
Invesco V.I. Balanced-Risk Allocation
Fund**** December 22, 2010 June 30, 2013
Invesco V.I. Core Equity Fund July 1, 2007 June 30, 2013
Invesco V.I. Diversified Dividend Fund February 12, 2010 June 30, 2013
Invesco V.I. Diversified Income Fund July 1, 2007 June 30, 2013
Invesco V.I. Equally-Weighted S&P 500 Fund February 12, 2010 June 30, 2013
Invesco V.I. Global Core Equity Fund February 12, 2010 June 30, 2013
Invesco V.I. Global Health Care Fund July 1, 2007 June 30, 2013
Invesco V.I. Global Real Estate Fund July 1, 2007 June 30, 2013
Invesco V.I. Government Securities Fund July 1, 2007 June 30, 2013
Invesco V.I. High Yield Fund July 1, 2007 June 30, 2013
Invesco V.I. High Yield Securities Fund February 12, 2010 June 30, 2013
Invesco V.I. International Growth Fund July 1, 2007 June 30, 2013
Invesco V.I. Mid Cap Core Equity Fund July 1, 2007 June 30, 2013
Invesco V.I. Money Market Fund July 1, 2007 June 30, 2013
Invesco V.I. S&P 500 Index Fund February 12, 2010 June 30, 2013
Invesco V.I. Small Cap Equity Fund July 1, 2007 June 30, 2013
Invesco V.I. Technology Fund July 1, 2007 June 30, 2013
Invesco V.I. Utilities Fund July 1, 2007 June 30, 2013
Invesco Xxx Xxxxxx V.I. American
FranchiseFund February 12, 2010 June 30, 2013
Invesco Xxx Xxxxxx V.I. American Value Fund February 12, 2010 June 30, 2013
Invesco Xxx Xxxxxx V.I. Xxxxxxxx Fund February 12, 2010 June 30, 2013
Invesco Xxx Xxxxxx V.I. Equity and Income
Fund February 12, 2010 June 30, 2013
Invesco Xxx Xxxxxx V.I. Growth and Income
Fund February 12, 2010 June 30, 2013
Invesco Xxx Xxxxxx V.I. Mid Cap Growth Fund February 12, 2010 June 30, 2013
Invesco Xxx Xxxxxx V.I. Value Opportunities
Fund July 1, 2007 June 30, 2013
--------
**** Advisory fees to be waived by Invesco for Invesco V.I. Balanced-Risk
Allocation Fund also include an amount equal to advisory fees that Invesco
receives from any money market fund or similarly pooled cash equivalent
investment vehicle advised by Invesco and/or Invesco's affiliates 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 June 30, 2013
SHORT-TERM INVESTMENTS TRUST
FUND EFFECTIVE DATE COMMITTED UNTIL
---- -------------- ---------------
Government TaxAdvantage Portfolio July 1, 2007 June 30, 2013
STIC Prime Portfolio July 1, 2007 June 30, 2013
Treasury Portfolio July 1, 2007 June 30, 2013
CLOSED-END FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL
---- -------------- ---------------
Invesco Municipal Income Opportunities Trust June 1, 2010 June 30, 2013
Invesco Quality Municipal Income Trust June 1, 2010 June 30, 2013
Invesco Value Municipal Income Trust June 1, 2010 June 30, 2013
SUB-ITEM 77Q1(e)
AMENDMENT NO. 4
TO
MASTER INTERGROUP SUB-ADVISORY CONTRACT FOR MUTUAL FUNDS
This Amendment dated as of September 24, 2012, 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 International
Mutual Funds (Invesco International Mutual 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 agree to amend the Agreement to change the name of
Invesco Global Select Companies Fund to Invesco Select Opportunities 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
FUNDS
Invesco Asia Pacific Growth Fund
Invesco European Growth Fund
Invesco Global Growth Fund
Invesco Global Opportunities Fund
Invesco Global Small & Mid Cap Growth Fund
Invesco International Core Equity Fund
Invesco International Growth Fund
Invesco Select 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/ Xxxx Xxxxxxx
------------------------------
Name: Xxxx Xxxxxxx
Title: Senior Vice President
By: /s/ Xxxxx X. Xxxxxx
------------------------------
Name: Xxxxx X. Xxxxxx
Title: EVP and CFO
3
INVESCO ASSET MANAGEMENT
DEUTSCHLAND GMBH
Sub-Adviser
By: /s/ X. Xxxxxxxxx /s/ J. Langewand
-------------------------------------
Name: X. Xxxxxxxxx Dr. J. Langewand
Title: Managing Director Managing Director
4
INVESCO ASSET MANAGEMENT LIMITED
Sub-Adviser
By: /s/ Xxxxxxxx Xxxxxxxx
------------------------------
Name: Xxxxxxxx Xxxxxxxx
Title: Managing Director
5
INVESCO ASSET MANAGEMENT (JAPAN) LTD.
Sub-Adviser
By: /s/ X X Xxxxxxxxx
------------------------------
Name: X X Xxxxxxxxx
Title: 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/ Xxxxxx Xxx /s/ Xxxxx Xxx
-------------------------------------
Name: /s/ Xxxxxx Xxx 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
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