MEMORANDUM OF AGREEMENT (Expense Limitations)

MEMORANDUM OF AGREEMENT
(Expense Limitations)

This Memorandum of Agreement is entered into as of the Effective Date on the attached exhibits (the “Exhibits”), between AIM Counselor Series Trust (Invesco Counselor Series Trust), AIM Equity Funds (Invesco Equity Funds), AIM Funds Group (Invesco Funds Group), AIM Growth Series (Invesco Growth Series), AIM International Mutual Funds (Invesco International Mutual Funds), AIM Investment Funds (Invesco Investment Funds), AIM Investment Securities Funds (Invesco Investment Securities Funds), AIM Sector Funds (Invesco Sector Funds), AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds), AIM Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco California Municipal Income Trust, Invesco California Municipal Securities, Invesco California Quality Municipal Securities, Invesco High Yield Investments Fund, Inc., Invesco Municipal Income Opportunities Trust, Invesco Municipal Income Opportunities Trust II, Invesco Municipal Income Opportunities Trust III, Invesco Municipal Premium Income Trust, Invesco New York Quality Municipal Securities, Invesco Quality Municipal Income Trust, Invesco Quality Municipal Investment Trust, Invesco Quality Municipal Securities, Invesco Value Municipal Bond Trust, Invesco Value Municipal Income Trust, Invesco Value Municipal Securities, Invesco Value Municipal Trust, and Short-Term Investments Trust (each a “Trust” or, collectively, the “Trusts”), on behalf of the funds listed on the Exhibits to this Memorandum of Agreement (the “Funds”), and Invesco Advisers, Inc. (“Invesco”). Invesco shall and hereby agrees to waive fees or reimburse expenses of each Fund, on behalf of its respective classes as applicable, severally and not jointly, as indicated in the attached Exhibits.

For and in consideration of the mutual terms and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Trusts and Invesco agree as follows:

For the Contractual Limits (listed in Exhibits A – D), the Trusts and Invesco agree until at least the expiration date set forth on the attached Exhibits A – D (the “Expiration Date”) that Invesco will waive its fees or reimburse expenses to the extent that expenses of a class of a Fund (excluding (i) interest; (ii) taxes; (iii) dividend expense on short sales; (iv) extraordinary or non-routine items, including litigation expenses; and (vii) expenses that each Fund has incurred but did not actually pay because of an expense offset arrangement, if applicable) exceed the rate, on an annualized basis, set forth on the Exhibits of the average daily net assets allocable to such class. Acquired fund fees and expenses are not fees or expenses incurred by a fund directly but are expenses of the investment companies in which a fund invests. These fees and expenses are incurred indirectly through the valuation of a fund’s investment in these investment companies. Acquired fund fees and expenses are required to be disclosed and included in the total annual fund operating expenses in the prospectus fee table. As a result, the net total annual fund operating expenses shown in the prospectus fee table may exceed the expense limits reflected in Exhibits A-D. With regard to the Contractual Limits, the Board of Trustees of the Trust and Invesco may terminate or modify this Memorandum of Agreement prior to the Expiration Date only by mutual written consent. Invesco will not have any right to reimbursement of any amount so waived or reimbursed.

For the Contractual Limits, each of the Trusts and Invesco agree to review the then-current expense limitations for each class of each Fund listed on the Exhibits on a date prior to the Expiration Date to determine whether such limitations should be amended, continued or terminated. The expense limitations will expire upon the Expiration Date unless the Trusts and Invesco have agreed to continue them. The Exhibits will be amended to reflect any such agreement.

For the Voluntary Limits (listed in Exhibits A – D), the Trusts and Invesco agree that these are not contractual in nature and that Invesco may establish, amend and/or terminate such expense limitations at any time in its sole discretion after consultation with the Funds’ Boards of Trustees. Any delay or failure by Invesco to update this Memorandum of Agreement with regards to the terminations, extensions, or expirations of the Voluntary Limits shall have no effect on the term of such Voluntary Limitations; the Voluntary Limitations are listed herein for informational purposes only.

It is expressly agreed that the obligations of each Trust hereunder shall not be binding upon any of the Trustees, shareholders, nominees, officers, agents or employees of the Trusts personally, but shall

only bind the assets and property of each Fund, as provided in each Trust’s Agreement and Declaration of Trust. The execution and delivery of this Memorandum of Agreement have been authorized by the Trustees of the Trusts, and this Memorandum of Agreement has been executed and delivered by an authorized officer of the Trusts acting as such; neither such authorization by such Trustees nor such execution and delivery by such officer shall be deemed to have been made by any of them individually or to impose any liability on any of them personally, but shall bind only the assets and property of the Funds, as provided in each Trust’s Agreement and Declaration of Trust.

IN WITNESS WHEREOF, each of the Trusts and Invesco have entered into this Memorandum of Agreement as of the Effective Dates on the attached Exhibits.


		AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST) AIM EQUITY FUNDS (INVESCO EQUITY FUNDS) AIM FUNDS GROUP (INVESCO FUNDS GROUP) AIM GROWTH SERIES (INVESCO GROWTH SERIES) AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS) AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS) AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS) AIM SECTOR FUNDS (INVESCO SECTOR FUNDS) AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS) AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS) INVESCO CALIFORNIA MUNICIPAL INCOME TRUST INVESCO CALIFORNIA MUNICIPAL SECURITIES INVESCO CALIFORNIA QUALITY MUNICIPAL SECURITIES INVESCO HIGH YIELD INVESTMENTS FUND, INC. INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST II INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST III INVESCO MUNICIPAL PREMIUM INCOME TRUST INVESCO NEW YORK QUALITY MUNICIPAL SECURITIES INVESCO QUALITY MUNICIPAL INCOME TRUST INVESCO QUALITY MUNICIPAL INVESTMENT TRUST INVESCO QUALITY MUNICIPAL SECURITIES INVESCO VALUE MUNICIPAL BOND TRUST INVESCO VALUE MUNICIPAL INCOME TRUST INVESCO VALUE MUNICIPAL SECURITIES INVESCO VALUE MUNICIPAL TRUST SHORT-TERM INVESTMENTS TRUST on behalf of the Funds listed in the Exhibits to this Memorandum of Agreement

		By:


		Title:		Senior Vice President



		INVESCO ADVISERS, INC.

		By:


		Title:		Senior Vice President

as of April 30, 2012

EXHIBIT “A” — RETAIL FUNDS¹

AIM Counselor Series Trust (Invesco Counselor Series Trust)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco California Tax-Free Income Fund
Class A Shares	Contractual		0.85	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.35	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.35	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.60	%	February 12, 2010	June 30, 2012

Invesco Core Plus Bond Fund
Class A Shares	Contractual		0.75	%	June 6, 2011	June 30, 2013
Class B Shares	Contractual		1.50	%	June 6, 2011	June 30, 2013
Class C Shares	Contractual		1.50	%	June 6, 2011	June 30, 2013
Class R Shares	Contractual		1.00	%	June 6, 2011	June 30, 2013
Class Y Shares	Contractual		0.50	%	June 6, 2011	June 30, 2013
Institutional Class Shares	Contractual		0.50	%	June 6, 2011	June 30, 2013

Invesco Equally-Weighted S&P 500 Fund
Class A Shares	Contractual		0.75	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.50	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.50	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		1.00	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.50	%	February 12, 2010	June 30, 2012
Invesco Floating Rate Fund
Class A Shares	Contractual		1.50	%	April 14, 2006	December 31, 2012
Class C Shares	Contractual		2.00	%	April 14, 2006	December 31, 2012
Class R Shares	Contractual		1.75	%	April 14, 2006	December 31, 2012
Class Y Shares	Contractual		1.25	%	October 3, 2008	December 31, 2012
Institutional Class Shares	Contractual		1.25	%	April 14, 2006	December 31, 2012

Invesco S&P 500 Index Fund
Class A Shares	Contractual		0.65	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.40	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.40	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.40	%	February 12, 2010	June 30, 2012
Invesco Global Real Estate Income Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	December 31, 2012
Class B Shares	Contractual		2.75	%	July 1, 2009	December 31, 2012
Class C Shares	Contractual		2.75	%	July 1, 2009	December 31, 2012
Class Y Shares	Contractual		1.75	%	July 1, 2009	December 31, 2012
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	December 31, 0000
Xxxxxxx X.X. Quantitative Core Fund
Class A Shares	Contractual		1.00	%	July 1, 2009	June 30, 2012
Class B Shares	Contractual		1.75	%	July 1, 2009	June 30, 2012
Class C Shares	Contractual		1.75	%	July 1, 2009	June 30, 2012
Class R Shares	Contractual		1.25	%	July 1, 2009	June 30, 2012
Class Y Shares	Contractual		0.75	%	July 1, 2009	June 30, 2012
Investor Class Shares	Contractual		1.00	%	July 1, 2009	June 30, 2012
Institutional Class Shares	Contractual		0.75	%	July 1, 2009	June 30, 2012

Invesco Xxx Xxxxxx American Franchise Fund
Class A Shares	Contractual		1.05	%	May 23, 2011	June 30, 2013
Class B Shares	Contractual		1.22	%⁸	May 23, 2011	June 30, 2013
Class C Shares	Contractual		1.80	%	May 23, 2011	June 30, 2013
Class R Shares	Contractual		1.30	%	May 23, 2011	June 30, 2013
Class Y Shares	Contractual		0.80	%	May 23, 2011	June 30, 2013
Institutional Class Shares	Contractual		0.80	%	May 23, 2011	June 30, 2013

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Xxx Xxxxxx Equity and Income Fund
Class A Shares	Contractual		0.82	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		0.95	%⁸	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.57	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		1.07	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.57	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		0.57	%	February 12, 2010	June 30, 2012

Invesco Xxx Xxxxxx Growth and Income Fund
Class A Shares	Contractual		0.88	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.63	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.63	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		1.13	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.63	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		0.63	%	February 12, 2010	June 30, 0000
Xxxxxxx Xxx Xxxxxx Xxxxxxxxxxxx Tax Free Income Fund
Class A Shares	Contractual		1.13	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.88	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.88	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.88	%	February 12, 2010	June 30, 2012

Invesco Xxx Xxxxxx Small Cap Growth Fund
Class A Shares	Contractual		1.38	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		2.13	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		2.13	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		1.13	%	February 12, 2010	June 30, 2012

AIM Equity Funds (Invesco Equity Funds)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Capital Development Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class R Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Investor Class Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Invesco Charter Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class R Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class S Shares	Contractual		1.90	%	September 25, 2009	February 28, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Invesco Constellation Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class R Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Disciplined Equity Fund
Class Y Shares	Contractual		1.75	%	July 14, 2009	February 28, 2013

Invesco Diversified Dividend Fund
Class A Shares	Contractual		0.95	%	July 18, 2011	June 30, 2013
Class B Shares	Contractual		1.70	%	July 18, 2011	June 30, 2013
Class C Shares	Contractual		1.70	%	July 18, 2011	June 30, 2013
Class R Shares	Contractual		1.20	%	July 18, 2011	June 30, 2013
Class Y Shares	Contractual		0.70	%	July 18, 2011	June 30, 2013
Investor Class Shares	Contractual		0.95	%	July 18, 2011	June 30, 2013
Institutional Class Shares	Contractual		0.70	%	July 18, 2011	June 30, 0000
Xxxxxxx Xxxxxx Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class P Shares	Contractual		1.85	%	July 1, 2009	February 28, 2013
Class S Shares	Contractual		1.90	%	September 25, 2009	February 28, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013

AIM Funds Group (Invesco Funds Group)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco European Small Company Fund
Class A Shares	Contractual		2.25	%	July 1, 2009	April 30, 2013
Class B Shares	Contractual		3.00	%	July 1, 2009	April 30, 2013
Class C Shares	Contractual		3.00	%	July 1, 2009	April 30, 2013
Class Y Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013
Invesco Global Core Equity Fund
Class A Shares	Contractual		1.25	%	May 23, 2011	June 30, 2013
Class B Shares	Contractual		1.52	%⁸	May 23, 2011	June 30, 2013
Class C Shares	Contractual		2.00	%	May 23, 2011	June 30, 2013
Class R Shares	Contractual		1.50	%	May 23, 2011	June 30, 2013
Class Y Shares	Contractual		1.00	%	May 23, 2011	June 30, 2013
Institutional Class Shares	Contractual		1.00	%	May 23, 2011	June 30, 2013

Invesco International Small Company Fund
Class A Shares	Contractual		2.25	%	July 1, 2009	April 30, 2013
Class B Shares	Contractual		3.00	%	July 1, 2009	April 30, 2013
Class C Shares	Contractual		3.00	%	July 1, 2009	April 30, 2013
Class Y Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013
Institutional Class Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013

Invesco Small Cap Equity Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	April 30, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	April 30, 2013
Class R Shares	Contractual		2.25	%	July 1, 2009	April 30, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	April 30, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	April 30, 2013

See page 14 for footnotes to Exhibit A.

as of April 30, 2012

AIM Growth Series (Invesco Growth Series)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Balanced-Risk Retirement 2020 Fund²
Class A Shares	Contractual		0.25	%	November 4, 2009	April 30, 2013
Class A5 Shares	Contractual		0.25	%	February 12, 2010	April 30, 2013
Class B Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C5 Shares	Contractual		1.00	%	February 12, 2010	April 30, 2013
Class R Shares	Contractual		0.50	%	November 4, 2009	April 30, 2013
Class R5 Shares	Contractual		0.50	%	February 12, 2010	April 30, 2013
Class Y Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013
Institutional Class Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013

Invesco Balanced-Risk Retirement 2030 Fund³
Class A Shares	Contractual		0.25	%	November 4, 2009	April 30, 2013
Class A5 Shares	Contractual		0.25	%	February 12, 2010	April 30, 2013
Class B Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C5 Shares	Contractual		1.00	%	February 12, 2010	April 30, 2013
Class R Shares	Contractual		0.50	%	November 4, 2009	April 30, 2013
Class R5 Shares	Contractual		0.50	%	February 12, 2010	April 30, 2013
Class Y Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013
Institutional Class Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013

Invesco Balanced-Risk Retirement 2040 Fund⁴
Class A Shares	Contractual		0.25	%	November 4, 2009	April 30, 2013
Class A5 Shares	Contractual		0.25	%	February 12, 2010	April 30, 2013
Class B Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C5 Shares	Contractual		1.00	%	February 12, 2010	April 30, 2013
Class R Shares	Contractual		0.50	%	November 4, 2009	April 30, 2013
Class R5 Shares	Contractual		0.50	%	February 12, 2010	April 30, 2013
Class Y Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013
Institutional Class Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013

Invesco Balanced-Risk Retirement 2050 Fund⁵
Class A Shares	Contractual		0.25	%	November 4, 2009	April 30, 2013
Class A5 Shares	Contractual		0.25	%	February 12, 2010	April 30, 2013
Class B Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C5 Shares	Contractual		1.00	%	February 12, 2010	April 30, 2013
Class R Shares	Contractual		0.50	%	November 4, 2009	April 30, 2013
Class R5 Shares	Contractual		0.50	%	February 12, 2010	April 30, 2013
Class Y Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013
Institutional Class Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013

Invesco Balanced-Risk Retirement Now Fund⁶
Class A Shares	Contractual		0.25	%	November 4, 2009	April 30, 2013
Class A5 Shares	Contractual		0.25	%	February 12, 2010	April 30, 2013
Class B Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C Shares	Contractual		1.00	%	November 4, 2009	April 30, 2013
Class C5 Shares	Contractual		1.00	%	February 12, 2010	April 30, 2013
Class R Shares	Contractual		0.50	%	November 4, 2009	April 30, 2013
Class R5 Shares	Contractual		0.50	%	February 12, 2010	April 30, 2013
Class Y Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013
Institutional Class Shares	Contractual		0.00	%	November 4, 2009	April 30, 2013

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Convertible Securities Fund
Class A Shares	Contractual		1.11	%	May 23, 2011	June 30, 2012
Class B Shares	Contractual		1.86	%	May 23, 2011	June 30, 2012
Class C Shares	Contractual		1.86	%	May 23, 2011	June 30, 2012
Class Y Shares	Contractual		0.86	%	May 23, 2011	June 30, 2012
Institutional Class Shares	Contractual		0.86	%	May 23, 2011	June 30, 2012
Invesco Global Quantitative Xxxxx Fund
Class A Shares	Contractual		2.25	%	July 1, 2009	April 30, 2013
Class B Shares	Contractual		3.00	%	July 1, 2009	April 30, 2013
Class C Shares	Contractual		3.00	%	July 1, 2009	April 30, 2013
Class R Shares	Contractual		2.50	%	July 1, 2009	April 30, 2013
Class Y Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013
Institutional Class Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013
Invesco Growth Allocation Fund
Class A Shares	Contractual		0.37	%	June 6, 2011	June 30, 2012
Class B Shares	Contractual		1.12	%	June 6, 2011	June 30, 2012
Class C Shares	Contractual		1.12	%	June 6, 2011	June 30, 2012
Class R Shares	Contractual		0.62	%	June 6, 2011	June 30, 2012
Class S Shares	Contractual		0.27	%	June 6, 2011	June 30, 2012
Class Y Shares	Contractual		0.12	%	June 6, 2011	June 30, 2012
Institutional Class Shares	Contractual		0.12	%	June 6, 2011	June 30, 2012
Invesco Income Allocation Fund
Class A Shares	Contractual		0.25	%	May 1, 2012	April 30, 2013
Class B Shares	Contractual		1.00	%	May 1, 2012	April 30, 2013
Class C Shares	Contractual		1.00	%	May 1, 2012	April 30, 2013
Class R Shares	Contractual		0.50	%	May 1, 2012	April 30, 2013
Class Y Shares	Contractual		0.00	%	May 1, 2012	April 30, 2013
Institutional Class Shares	Contractual		0.00	%	May 1, 2012	April 30, 2013

Invesco International Allocation Fund
Class A Shares	Contractual		0.43	%	July 1, 2009	April 30, 2012
Class B Shares	Contractual		1.18	%	July 1, 2009	April 30, 2012
Class C Shares	Contractual		1.18	%	July 1, 2009	April 30, 2012
Class R Shares	Contractual		0.68	%	July 1, 2009	April 30, 2012
Class Y Shares	Contractual		0.18	%	July 1, 2009	April 30, 2012
Institutional Class Shares	Contractual		0.18	%	July 1, 2009	April 30, 2012
Invesco Mid Cap Core Equity Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	April 30, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	April 30, 2013
Class R Shares	Contractual		2.25	%	July 1, 2009	April 30, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	April 30, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	April 30, 2013
Invesco Moderate Allocation Fund
Class A Shares	Contractual		0.37	%	July 1, 2009	June 30, 2012
Class B Shares	Contractual		1.12	%	July 1, 2009	June 30, 2012
Class C Shares	Contractual		1.12	%	July 1, 2009	June 30, 2012
Class R Shares	Contractual		0.62	%	July 1, 2009	June 30, 2012
Class S Shares	Contractual		0.27	%	September 25, 2009	June 30, 2012
Class Y Shares	Contractual		0.12	%	July 1, 2009	June 30, 2012
Institutional Class Shares	Contractual		0.12	%	July 1, 2009	June 30, 2012
Invesco Conservative Allocation Fund
Class A Shares	Contractual		0.39	%	July 1, 2009	June 30, 2012
Class B Shares	Contractual		1.14	%	July 1, 2009	June 30, 2012
Class C Shares	Contractual		1.14	%	July 1, 2009	June 30, 2012
Class R Shares	Contractual		0.64	%	July 1, 2009	June 30, 2012
Class S Shares	Contractual		0.29	%	June 6, 2011	June 30, 2012
Class Y Shares	Contractual		0.14	%	July 1, 2009	June 30, 2012
Institutional Class Shares	Contractual		0.14	%	July 1, 2009	June 30, 2012

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Small Cap Growth Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	April 30, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	April 30, 2013
Class R Shares	Contractual		2.25	%	July 1, 2009	April 30, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	April 30, 2013
Investor Class Shares	Contractual		2.00	%	July 1, 2009	April 30, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	April 30, 2013

Invesco Xxx Xxxxxx Leaders Fund
Class A Shares	Contractual		0.50	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.25	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.25	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.25	%	February 12, 2010	June 30, 2012

Invesco Xxx Xxxxxx U.S. Mortgage Fund
Class A Shares	Contractual		0.96	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.71	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.71	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.71	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		0.71	%	February 12, 2010	June 30, 2012

AIM International Mutual Funds (Invesco International Mutual Funds)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Asia Pacific Growth Fund
Class A Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Invesco European Growth Fund
Class A Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class R Shares	Contractual		2.50	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Investor Class Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Invesco Global Growth Fund
Class A Shares	Contractual		1.32	%	December 19, 2011	December 31, 2012
Class B Shares	Contractual		2.07	%	December 19, 2011	December 31, 2012
Class C Shares	Contractual		2.07	%	December 19, 2011	December 31, 2012
Class Y Shares	Contractual		1.07	%	December 19, 2011	December 31, 2012
Institutional Class Shares	Contractual		1.07	%	December 19, 2011	December 31, 2012
Invesco Global Small & Mid Cap Growth Fund
Class A Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Invesco International Core Equity Fund
Class A Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class R Shares	Contractual		2.50	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Investor Class Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco International Growth Fund
Class A Shares	Contractual		1.40	%	May 23, 2011	June 30, 2013
Class B Shares	Contractual		2.15	%	May 23, 2011	June 30, 2013
Class C Shares	Contractual		2.15	%	May 23, 2011	June 30, 2013
Class R Shares	Contractual		1.65	%	May 23, 2011	June 30, 2013
Class Y Shares	Contractual		1.15	%	May 23, 2011	June 30, 2013
Institutional Class Shares	Contractual		1.15	%	May 23, 2011	June 30, 2013

AIM Investment Funds (Invesco Investment Funds)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Balanced-Risk Allocation Fund⁷
Class A Shares	Contractual		1.04	%	November 4, 2009	February 28, 2012
Class B Shares	Contractual		1.79	%	November 4, 2009	February 28, 2012
Class C Shares	Contractual		1.79	%	November 4, 2009	February 28, 2012
Class R Shares	Contractual		1.29	%	November 4, 2009	February 28, 2012
Class Y Shares	Contractual		0.79	%	November 4, 2009	February 28, 2012
Institutional Class Shares	Contractual		0.79	%	November 4, 2009	February 28, 2012
Invesco Balanced-Risk Commodity Strategy Fund¹⁰
Class A Shares	Contractual		1.22	%	November 29, 2010	February 28, 2013
Class B Shares	Contractual		1.97	%	November 29, 2010	February 28, 2013
Class C Shares	Contractual		1.97	%	November 29, 2010	February 28, 2013
Class R Shares	Contractual		1.47	%	November 29, 2010	February 28, 2013
Class Y Shares	Contractual		0.97	%	November 29, 2010	February 28, 2013
Institutional Class Shares	Contractual		0.97	%	November 29, 2010	February 28, 2013
Invesco China Fund
Class A Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		3.00	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Invesco Commodities Strategy Fund¹¹
Class A Shares	Contractual		1.25	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		2.00	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		2.00	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		1.50	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		1.00	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		1.00	%	February 12, 2010	June 30, 2012
Invesco Developing Markets Fund
Class A Shares	Contractual		2.10	%	May 23, 2011	June 30, 2012
Class B Shares	Contractual		2.85	%	May 23, 2011	June 30, 2012
Class C Shares	Contractual		2.85	%	May 23, 2011	June 30, 2012
Class Y Shares	Contractual		1.85	%	May 23, 2011	June 30, 2012
Institutional Class Shares	Contractual		1.85	%	May 23, 2011	June 30, 2012
Invesco Emerging Markets Equity Fund
Class A Shares	Contractual		1.85	%	May 11, 2011	February 28, 2013
Class C Shares	Contractual		2.60	%	May 11, 2011	February 28, 2013
Class R Shares	Contractual		2.10	%	May 11, 2011	February 28, 2013
Class Y Shares	Contractual		1.60	%	May 11, 2011	February 28, 2013
Institutional Class Shares	Contractual		1.60	%	May 11, 2011	February 28, 2013
Invesco Emerging Market Local Currency Debt Fund
Class A Shares	Contractual		1.24	%	June 14, 2010	February 28, 2013
Class B Shares	Contractual		1.99	%	June 14, 2010	February 28, 2013
Class C Shares	Contractual		1.99	%	June 14, 2010	February 28, 2013
Class R Shares	Contractual		1.49	%	June 14, 2010	February 28, 2013
Class Y Shares	Contractual		0.99	%	June 14, 2010	February 28, 2013
Institutional Class Shares	Contractual		0.99	%	June 14, 2010	February 28, 2013

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Endeavor Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class R Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Invesco Global Health Care Fund
Class A Shares	Contractual		1.65	%	May 23, 2011	June 30, 2012
Class B Shares	Contractual		2.40	%	May 23, 2011	June 30, 2012
Class C Shares	Contractual		2.40	%	May 23, 2011	June 30, 2012
Class Y Shares	Contractual		1.40	%	May 23, 2011	June 30, 2012
Investor Class Shares	Contractual		1.65	%	May 23, 2011	June 30, 2012
Invesco International Total Return Fund
Class A Shares	Contractual		1.10	%	March 31, 2006	February 28, 2013
Class B Shares	Contractual		1.85	%	March 31, 2006	February 28, 2013
Class C Shares	Contractual		1.85	%	March 31, 2006	February 28, 2013
Class Y Shares	Contractual		0.85	%	October 3, 2008	February 28, 2013
Institutional Class Shares	Contractual		0.85	%	March 31, 2006	February 28, 2013

Invesco Pacific Growth Fund
Class A Shares	Contractual		1.88	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		2.63	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		2.63	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		2.13	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		1.63	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		1.63	%	May 23, 2011	June 30, 2012

Invesco Premium Income Fund
Class A Shares	Contractual		0.89	%	December 13, 2011	February 28, 2013
Class C Shares	Contractual		1.64	%	December 13, 2011	February 28, 2013
Class R Shares	Contractual		1.14	%	December 13, 2011	February 28, 2013
Class Y Shares	Contractual		0.64	%	December 13, 2011	February 28, 2013
Institutional Class Shares	Contractual		0.64	%	December 13, 2011	February 28, 2013
Invesco Small Companies Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	February 28, 2013
Class B Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class C Shares	Contractual		2.75	%	July 1, 2009	February 28, 2013
Class R Shares	Contractual		2.25	%	July 1, 2009	February 28, 2013
Class Y Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	February 28, 2013

AIM Investment Securities Funds (Invesco Investment Securities Funds)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Dynamics Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	June 30, 2012
Class B Shares	Contractual		2.75	%	July 1, 2009	June 30, 2012
Class C Shares	Contractual		2.75	%	July 1, 2009	June 30, 2012
Class R Shares	Contractual		2.25	%	July 1, 2009	June 30, 2012
Class Y Shares	Contractual		1.75	%	July 1, 2009	June 30, 2012
Investor Class Shares	Contractual		2.00	%	July 1, 2009	June 30, 2012
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	June 30, 2012
Invesco Global Real Estate Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	June 30, 2012
Class B Shares	Contractual		2.75	%	July 1, 2009	June 30, 2012
Class C Shares	Contractual		2.75	%	July 1, 2009	June 30, 2012
Class R Shares	Contractual		2.25	%	July 1, 2009	June 30, 2012
Class Y Shares	Contractual		1.75	%	July 1, 2009	June 30, 2012
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	June 30, 2012

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco High Yield Fund
Class A Shares	Contractual		0.89	%	June 6, 2011	June 30, 2013
Class B Shares	Contractual		1.64	%	June 6, 2011	June 30, 2013
Class C Shares	Contractual		1.64	%	June 6, 2011	June 30, 2013
Class Y Shares	Contractual		0.64	%	June 6, 2011	June 30, 2013
Investor Class Shares	Contractual		0.89	%	June 6, 2011	June 30, 2013
Institutional Class Shares	Contractual		0.64	%	June 6, 2011	June 30, 2013

Invesco High Yield Securities Fund
Class A Shares	Contractual		2.13	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		2.63	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		2.73	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		1.88	%	February 12, 2010	June 30, 2012
Invesco Municipal Bond Fund
Class A Shares	Contractual		0.70	%	July 1, 2011	June 30, 2012
Class B Shares	Contractual		1.45	%	July 1, 2011	June 30, 2012
Class C Shares	Contractual		1.45	%	July 1, 2011	June 30, 2012
Class Y Shares	Contractual		0.45	%	July 1, 2011	June 30, 2012
Investor Class Shares	Contractual		0.70	%	July 1, 2011	June 30, 2012
Invesco Real Estate Fund
Class A Shares	Contractual		1.55	%	May 23, 2011	June 30, 2012
Class B Shares	Contractual		2.30	%	May 23, 2011	June 30, 2012
Class C Shares	Contractual		2.30	%	May 23, 2011	June 30, 2012
Class R Shares	Contractual		1.80	%	May 23, 2011	June 30, 2012
Class Y Shares	Contractual		1.30	%	May 23, 2011	June 30, 2012
Investor Class Shares	Contractual		1.55	%	May 23, 2011	June 30, 2012
Institutional Class Shares	Contractual		1.30	%	May 23, 2011	June 30, 2012
Invesco Short Term Bond Fund
Class A Shares	Contractual		0.56	%	June 6, 2011	June 30, 2013
Class C Shares	Contractual		0.91	%⁸	March 4, 2009	June 30, 2013
Class R Shares	Contractual		0.91	%	March 4, 2009	June 30, 2013
Class Y Shares	Contractual		0.41	%	March 4, 2009	June 30, 2013
Institutional Class Shares	Contractual		0.41	%	March 4, 2009	June 30, 0000
Xxxxxxx X.X. Government Fund
Class A Shares	Contractual		1.03	%	June 6, 2011	June 30, 2012
Class B Shares	Contractual		1.78	%	June 6, 2011	June 30, 2012
Class C Shares	Contractual		1.78	%	June 6, 2011	June 30, 2012
Class R Shares	Contractual		1.28	%	June 6, 2011	June 30, 2012
Class Y Shares	Contractual		0.78	%	June 6, 2011	June 30, 2012
Investor Class Shares	Contractual		1.03	%	June 6, 2011	June 30, 2012
Institutional Class Shares	Contractual		0.78	%	June 6, 3011	June 30, 2012
Invesco Xxx Xxxxxx Corporate Bond Fund
Class A Shares	Contractual		0.95	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.29	%⁸	June 6, 2011	June 30, 2012
Class C Shares	Contractual		1.65	%⁸	June 6, 2011	June 30, 2012
Class R Shares	Contractual		1.20	%	June 6, 2011	June 30, 2012
Class Y Shares	Contractual		0.70	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		0.70	%	February 12, 2010	June 30, 2012

AIM Sector Funds (Invesco Sector Funds)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Energy Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	August 31, 2012
Class B Shares	Contractual		2.75	%	July 1, 2009	August 31, 2012
Class C Shares	Contractual		2.75	%	July 1, 2009	August 31, 2012
Class Y Shares	Contractual		1.75	%	July 1, 2009	August 31, 2012
Investor Class Shares	Contractual		2.00	%	July 1, 2009	August 31, 2012
Institutional Class Shares	Contractual		1.75	%	July 1, 2009	August 31, 2012

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Gold & Precious Metals Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	August 31, 2012
Class B Shares	Contractual		2.75	%	July 1, 2009	August 31, 2012
Class C Shares	Contractual		2.75	%	July 1, 2009	August 31, 2012
Class Y Shares	Contractual		1.75	%	July 1, 2009	August 31, 2012
Investor Class Shares	Contractual		2.00	%	July 1, 2009	August 31, 2012
Invesco Leisure Fund
Class A Shares	Contractual		2.00	%	July 1, 2009	August 31, 2012
Class B Shares	Contractual		2.75	%	July 1, 2009	August 31, 2012
Class C Shares	Contractual		2.75	%	July 1, 2009	August 31, 2012
Class R Shares	Contractual		2.25	%	July 1, 2009	August 31, 2012
Class Y Shares	Contractual		1.75	%	July 1, 2009	August 31, 2012
Investor Class Shares	Contractual		2.00	%	July 1, 2009	August 31, 2012

Invesco Technology Fund
Class A Shares	Contractual		1.76	%	May 23, 2011	June 30, 2012
Class B Shares	Contractual		2.51	%	May 23, 2011	June 30, 2012
Class C Shares	Contractual		2.51	%	May 23, 2011	June 30, 2012
Class Y Shares	Contractual		1.51	%	May 23, 2011	June 30, 2012
Investor Class Shares	Contractual		1.76	%	May 23, 2011	June 30, 2012
Institutional Class Shares	Contractual		1.51	%	May 23, 2011	June 30, 2012

Invesco Technology Sector Fund
Class A Shares	Contractual		2.00	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		2.75	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		2.75	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		1.75	%	February 12, 2010	June 30, 2012

Invesco Utilities Fund
Class A Shares	Contractual		1.32	%	May 23, 2011	June 30, 2013
Class B Shares	Contractual		2.07	%	May 23, 2011	June 30, 2013
Class C Shares	Contractual		2.07	%	May 23, 2011	June 30, 2013
Class Y Shares	Contractual		1.07	%	May 23, 2011	June 30, 2013
Investor Class Shares	Contractual		1.32	%	May 23, 2011	June 30, 2013
Institutional Class Shares	Contractual		1.07	%	May 23, 2011	June 30, 2013
Invesco Xxx Xxxxxx American Value Fund
Class A Shares	Contractual		1.41	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.65	%⁸	May 23, 2011	June 30, 2012
Class C Shares	Contractual		2.16	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		1.66	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		1.16	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		1.16	%	February 12, 2010	June 30, 2012
Invesco Xxx Xxxxxx Xxxxxxxx Fund
Class A Shares	Contractual		0.89	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.64	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.64	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		1.14	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.64	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		0.64	%	February 12, 2010	June 30, 2012

See page 14 for footnotes to Exhibit A.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Xxx Xxxxxx Mid Cap Growth Fund
Class A Shares	Contractual		1.40	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		2.15	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		2.15	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		1.65	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		1.15	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		1.15	%	February 12, 2010	June 30, 2012

Invesco Xxx Xxxxxx Small Cap Value Fund
Class A Shares	Contractual		1.03	%	May 23, 2011	June 30, 2012
Class B Shares	Contractual		1.40	%⁸	May 23, 2011	June 30, 2012
Class C Shares	Contractual		1.78	%	May 23, 2011	June 30, 2012
Class Y Shares	Contractual		0.78	%	May 23, 2011	June 30, 2012

Xxx Xxxxxx Value Opportunities Fund
Class A Shares	Contractual		1.41	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		2.16	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		2.16	%	February 12, 2010	June 30, 2012
Class R Shares	Contractual		1.66	%	May 23, 2011	June 30, 2012
Class Y Shares	Contractual		1.16	%	February 12, 2010	June 30, 2012
Institutional Class Shares	Contractual		1.16	%	May 23, 2011	June 30, 2012

AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Xxx Xxxxxx High Yield Municipal Fund
Class A Shares	Contractual		0.87	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.62	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.62	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.62	%	February 12, 2010	June 30, 2012

Invesco Xxx Xxxxxx Intermediate Term Municipal Income Fund
Class A Shares	Contractual		0.75	%	June 6, 2011	June 30, 2013
Class B Shares	Contractual		1.50	%	June 6, 2011	June 30, 2013
Class C Shares	Contractual		1.50	%	June 6, 2011	June 30, 2013
Class Y Shares	Contractual		0.50	%	June 6, 2011	June 30, 2013
Invesco Xxx Xxxxxx Municipal Income Fund
Class A Shares	Contractual		0.83	%	June 6, 2011	June 30, 2013
Class B Shares	Contractual		1.58	%	June 6, 2011	June 30, 2013
Class C Shares	Contractual		1.58	%	June 6, 2011	June 30, 2013
Class Y Shares	Contractual		0.58	%	June 6, 2011	June 30, 0000
Xxxxxxx Xxx Xxxxxx Xxx Xxxx Tax Free Income Fund
Class A Shares	Contractual		0.78	%	February 12, 2010	June 30, 2012
Class B Shares	Contractual		1.53	%	February 12, 2010	June 30, 2012
Class C Shares	Contractual		1.53	%	February 12, 2010	June 30, 2012
Class Y Shares	Contractual		0.53	%	February 12, 2010	June 30, 2012

See page 14 for footnotes to Exhibit A.


¹		The total operating expenses of any class of shares established after the date of this Memorandum of Agreement will be limited to the amount established for Class A Shares plus the difference between the new class 12b-1 rate and the Class A 12b-1 rate.

²		Following the reorganization with Xxx Xxxxxx 2020 Retirement Strategy and Xxx Xxxxxx 2025 Retirement Strategy, the Fund’s contractual limit through at least June 30, 2012 (excluding only items included in “notwithstanding” sentence discussed above) will be 0.41%, 1.16%, 0.66% and 0.16% for Class A5, C5, R5 and Y, respectively.

³		Following the reorganization with Xxx Xxxxxx 00 Xxxxxxxxxx Xxxxxxxx and Xxx Xxxxxx 2035 Retirement Strategy, the Fund’s contractual limit through at least June 30, 2012 (excluding only items included in “notwithstanding” sentence discussed above) will be 0.29%, 1.04%, 0.54% and 0.04% for Class A5, C5, R5 and Y, respectively.

⁴		Following the reorganization with Xxx Xxxxxx 2040 Retirement Strategy and Xxx Xxxxxx 2045 Retirement Strategy, the Fund’s contractual limit through at least June 30, 2012 (excluding only items included in “notwithstanding” sentence discussed above) will be 0.28%, 1.03%, 0.53% and 0.03% for Class A5, C5, R5 and Y, respectively.

as of April 30, 2012


⁵		Following the reorganization with Xxx Xxxxxx 50 Retirement Strategy, the Fund’s contractual limit through at least June 30, 2012 (excluding only items included in “notwithstanding” sentence discussed above) will be 0.26%, 1.01%, 0.51% and 0.01% for Class A5, C5, R5 and Y, respectively.

⁶		Following the reorganization with Xxx Xxxxxx In Retirement, the Fund’s contractual limit through at least June 30, 2012 (excluding only items included in “notwithstanding” sentence discussed above) will be 0.47%, 1.22%, 0.72% and 0.22% for Class A5, C5, R5 and Y, respectively.

⁷		Includes waived fees or reimbursed expenses that Invesco receives from Invesco Cayman Commodity Fund I, Ltd.

⁸		The expense limit shown is the expense limit after Rule 12b-1 fee waivers by Invesco Distributors, Inc.

⁹		Invesco may establish, amend or terminate voluntary waivers at any time in its sole discretion after consultation with the Trust.

¹⁰		Includes waived fees or reimbursed expenses that Invesco receives from Invesco Cayman Commodity Fund III, Ltd.

¹¹		Includes waived fees or reimbursed expenses that Invesco receives from Invesco Cayman Commodity Fund II, Ltd.

as of April 30, 2012

EXHIBIT “B” — INSTITUTIONAL MONEY MARKET FUNDS^1,2

Short-Term Investments Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Government & Agency Portfolio
Cash Management Class	Contractual		0.22	%²	July 1, 2009	December 31, 2012
Corporate Class	Contractual		0.17	%	July 1, 2009	December 31, 2012
Institutional Class	Contractual		0.14	%	July 1, 2009	December 31, 2012
Personal Investment Class	Contractual		0.69	%²	July 1, 2009	December 31, 2012
Private Investment Class	Contractual		0.44	%²	July 1, 2009	December 31, 2012
Reserve Class	Contractual		1.01	%²	July 1, 2009	December 31, 2012
Resource Class	Contractual		0.30	%²	July 1, 2009	December 31, 2012

Government TaxAdvantage Portfolio
Cash Management Class	Contractual		0.22	%²	July 1, 2009	December 31, 2012
Corporate Class	Contractual		0.17	%	July 1, 2009	December 31, 2012
Institutional Class	Contractual		0.14	%	July 1, 2009	December 31, 2012
Personal Investment Class	Contractual		0.69	%²	July 1, 2009	December 31, 2012
Private Investment Class	Contractual		0.39	%²	July 1, 2009	December 31, 2012
Reserve Class	Contractual		1.01	%²	July 1, 2009	December 31, 2012
Resource Class	Contractual		0.30	%²	July 1, 2009	December 31, 2012

Liquid Assets Portfolio
Cash Management Class	Contractual		0.22	%²	July 1, 2009	December 31, 2012
Corporate Class	Contractual		0.17	%	July 1, 2009	December 31, 2012
Institutional Class	Contractual		0.14	%	July 1, 2009	December 31, 2012
Personal Investment Class	Contractual		0.69	%²	July 1, 2009	December 31, 2012
Private Investment Class	Contractual		0.44	%²	July 1, 2009	December 31, 2012
Reserve Class	Contractual		1.01	%²	July 1, 2009	December 31, 2012
Resource Class	Contractual		0.34	%	July 1, 2009	December 31, 2012

STIC Prime Portfolio
Cash Management Class	Contractual		0.22	%²	July 1, 2009	December 31, 2012
Corporate Class	Contractual		0.17	%	July 1, 2009	December 31, 2012
Institutional Class	Contractual		0.14	%	July 1, 2009	December 31, 2012
Personal Investment Class	Contractual		0.69	%²	July 1, 2009	December 31, 2012
Private Investment Class	Contractual		0.44	%²	July 1, 2009	December 31, 2012
Reserve Class	Contractual		1.01	%²	July 1, 2009	December 31, 2012
Resource Class	Contractual		0.30	%²	July 1, 2009	December 31, 2012

Tax-Free Cash Reserve Portfolio³
Cash Management Class	Contractual		0.33	%²	July 1, 2009	December 31, 2012
Corporate Class	Contractual		0.28	%	July 1, 2009	December 31, 2012
Institutional Class	Contractual		0.25	%	July 1, 2009	December 31, 2012
Personal Investment Class	Contractual		0.80	%²	July 1, 2009	December 31, 2012
Private Investment Class	Contractual		0.50	%²	July 1, 2009	December 31, 2012
Reserve Class	Contractual		1.12	%²	July 1, 2009	December 31, 2012
Resource Class	Contractual		0.41	%²	July 1, 2009	December 31, 2012

Treasury Portfolio
Cash Management Class	Contractual		0.22	%²	July 1, 2009	December 31, 2012
Corporate Class	Contractual		0.17	%	July 1, 2009	December 31, 2012
Institutional Class	Contractual		0.14	%	July 1, 2009	December 31, 2012
Personal Investment Class	Contractual		0.69	%²	July 1, 2009	December 31, 2012
Private Investment Class	Contractual		0.44	%²	July 1, 2009	December 31, 2012
Reserve Class	Contractual		1.01	%²	July 1, 2009	December 31, 2012
Resource Class	Contractual		0.30	%²	July 1, 2009	December 31, 2012


¹		The expense rate excluding 12b-1 fees of any class of shares established after the date of this Memorandum of Agreement will be the same as existing classes.

²		The expense limit shown is the expense limit after Rule 12b-1 fee waivers by Invesco Distributors, Inc.

³		The expense limitation also excludes Trustees’ fees and federal registration expenses.

as of April 30, 2012

EXHIBIT “C” — VARIABLE INSURANCE FUNDS

AIM Variable Insurance Funds (Invesco Variable Insurance Funds)


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco V.I. Balanced-Risk Allocation Fund¹
Series I Shares	Contractual		0.72	%	January 1, 2012	June 30, 2013

Series II Shares	Contractual		0.97	%	January 1, 2012	June 30, 2013

Invesco V.I. Core Equity Fund
Series I Shares	Contractual		1.30	%	January 1, 2005	April 30, 2013

Series II Shares	Contractual		1.45	%	January 1, 2005	April 30, 2013

Invesco V.I. Diversified Dividend Fund
Series I Shares	Contractual		0.77	%	July 1, 2012	April 30, 2013

Series II Shares	Contractual		1.02	%	July 1, 2012	April 30, 2013
Invesco V.I. Diversified Income Fund
Series I Shares	Contractual		0.75	%	July 1, 2005	April 30, 2013

Series II Shares	Contractual		1.00	%	July 1, 2005	April 30, 2013

Invesco V.I. Equally-Weighted S&P 500 Fund
Series I Shares	Contractual		0.37	%	February 12, 2010	June 30, 2012

Series II Shares	Contractual		0.62	%	February 12, 2010	June 30, 2012

Invesco V.I. Global Health Care Fund
Series I Shares	Contractual		1.30	%	April 30, 2004	April 30, 2013

Series II Shares	Contractual		1.45	%	April 30, 2004	April 30, 2013

Invesco V.I. Global Real Estate Fund
Series I Shares	Contractual		1.30	%	April 30, 2004	April 30, 2013

Series II Shares	Contractual		1.45	%	April 30, 2004	April 30, 2013

Invesco V.I. Government Securities Fund
Series I Shares	Contractual		0.70	%	July 1, 2012	April 30, 2013

Series II Shares	Contractual		0.95	%	July 1, 2012	April 30, 2013

Invesco V.I. High Yield Fund
Series I Shares	Contractual		0.80	%	May 2, 2011	June 30, 2013

Series II Shares	Contractual		1.05	%	May 2, 2011	June 30, 2013

Invesco V.I. High Yield Securities Fund
Series I Shares	Contractual		1.75	%	February 12, 2010	June 30, 2012

Series II Shares	Contractual		2.00	%	February 12, 2010	June 30, 2012


¹		Includes waived fees or reimbursed expenses that Invesco receives from Invesco Cayman Commodity Fund IV, Ltd.

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco V.I. International Growth Fund
Series I Shares	Contractual		1.11	%	May 2, 2011	June 30, 2012

Series II Shares	Contractual		1.36	%	May 2, 2011	June 30, 2012

Invesco V.I. Mid Cap Core Equity Fund
Series I Shares	Contractual		1.30	%	September 10, 2001	April 30, 2013

Series II Shares	Contractual		1.45	%	September 10, 2001	April 30, 2013

Invesco V.I. Money Market Fund
Series I Shares	Contractual		1.30	%	January 1, 2005	April 30, 2013

Series II Shares	Contractual		1.45	%	January 1, 2005	April 30, 2013

Invesco V.I. S&P 500 Index Fund
Series I Shares	Contractual		0.28	%	February 12, 2010	June 30, 2012

Series II Shares	Contractual		0.53	%	February 12, 2010	June 30, 2012

Invesco V.I. Small Cap Equity Fund
Series I Shares	Contractual		1.15	%	July 1, 2005	April 30, 2013

Series II Shares	Contractual		1.40	%	July 1, 2005	April 30, 2013

Invesco V.I. Technology Fund
Series I Shares	Contractual		1.30	%	April 30, 2004	April 30, 2013

Series II Shares	Contractual		1.45	%	April 30, 2004	April 30, 2013

Invesco V.I. Utilities Fund
Series I Shares	Contractual		0.93	%	September 23, 2005	April 30, 2012

Series II Shares	Contractual		1.18	%	September 23, 2005	April 30, 2012

Invesco Xxx Xxxxxx V.I. Capital Growth Fund
Series I Shares	Contractual		0.94	%	July 1, 2012	April 30, 2013

Series II Shares	Contractual		1.19	%	July 1, 2012	April 30, 2013

Invesco Xxx Xxxxxx V.I. Xxxxxxxx Fund
Series I Shares	Contractual		0.72	%	July 1, 2012	April 30, 2013

Series II Shares	Contractual		0.97	%	July 1, 2012	April 30, 2013

Invesco Xxx Xxxxxx V.I. Equity and Income Fund
Series I Shares	Contractual		0.70	%	February 12, 2010	June 30, 2012

Series II Shares	Contractual		0.75	%²	February 12, 2010	June 30, 2012

Invesco V.I. Global Core Equity Fund
Series I Shares	Contractual		0.94	%	May 2, 2011	June 30, 2012

Series II Shares	Contractual		1.19	%	May 2, 2011	June 30, 2012

as of April 30, 2012


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Xxx Xxxxxx V.I. Growth and Income Fund
Series I Shares	Contractual		0.72	%	July 1, 2012	April 30, 2013

Series II Shares	Contractual		0.97	%	July 1, 2012	April 30, 2013

Invesco Xxx Xxxxxx V.I. Mid Cap Growth Fund
Series I Shares	Contractual		1.01	%	February 12, 2010	June 30, 2012

Series II Shares	Contractual		1.26	%	February 12, 2010	June 30, 2012

Invesco Xxx Xxxxxx V.I. Mid Cap Value Fund
Series I Shares	Contractual		1.18	%	February 12, 2010	June 30, 2012

Series II Shares	Contractual		1.28	%²	February 12, 2010	June 30, 2012

Invesco Xxx Xxxxxx V.I. Value Opportunities Fund
Series I Shares	Contractual		1.30	%	January 1, 2005	April 30, 2013

Series II Shares	Contractual		1.45	%	January 1, 2005	April 30, 2013


²		The expense limit shown is the expense limit after Rule 12b-1 fee waivers by Invesco Distributors, Inc.

as of April 30, 2012

EXHIBIT “D” — CLOSED-END FUNDS¹

Invesco California Municipal Income Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco California Municipal Income Trust	Contractual		0.67	%	June 1, 2010	June 30, 0000

Xxxxxxx Xxxxxxxxxx Municipal Securities


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco California Municipal Securities	Contractual		0.70	%	June 1, 2010	June 30, 0000

Xxxxxxx Xxxxxxxxxx Quality Municipal Securities


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco California Quality Municipal Securities	Contractual		0.70	%	June 1, 2010	June 30, 2012

Invesco High Yield Investments Fund, Inc.


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco High Yield Investments Fund, Inc.	Contractual		0.98	%	June 1, 2010	June 30, 2012

Invesco Municipal Income Opportunities Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Municipal Income Opportunities Trust	Contractual		0.73	%	June 1, 2010	June 30, 2012

Invesco Municipal Income Opportunities Trust II


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Municipal Income Opportunities Trust II	Contractual		0.73	%	June 1, 2010	June 30, 2012

Invesco Municipal Income Opportunities Trust III


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Municipal Income Opportunities Trust III	Contractual		0.84	%	June 1, 2010	June 30, 2012

as of April 30, 2012

Invesco Municipal Premium Income Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Municipal Premium Income Trust	Contractual		1.03	%	June 1, 2010	June 30, 2012

Invesco New York Quality Municipal Securities


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco New York Quality Municipal Securities	Contractual		0.80	%	June 1, 2010	June 30, 2012

Invesco Quality Municipal Income Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Quality Municipal Income Trust	Contractual		0.70	%	June 1, 2010	June 30, 2012

Invesco Quality Municipal Investment Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Quality Municipal Investment Trust	Contractual		0.70	%	June 1, 2010	June 30, 2012

Invesco Quality Municipal Securities


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Quality Municipal Securities	Contractual		0.66	%	June 1, 2010	June 30, 2012

Invesco Value Municipal Bond Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Value Municipal Bond Trust	Contractual		1.00	%	June 1, 2010	June 30, 2012

Invesco Value Municipal Income Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Value Municipal Income Trust	Contractual		0.64	%	June 1, 2010	June 30, 2012

as of April 30, 2012

Invesco Value Municipal Securities


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Value Municipal Securities	Contractual		0.54	%	June 1, 2010	June 30, 2012

Invesco Value Municipal Trust


	Contractual/	Expense			Effective Date of	Expiration
Fund	Voluntary	Limitation			Current Limit	Date
Invesco Value Municipal Trust	Contractual		0.66	%	June 1, 2010	June 30, 2012


¹		The total operating expenses of any class of shares established after the date of this Memorandum of Agreement will be limited to the amount established for Class A Shares plus the difference between the new class 12b-1 rate and the Class A 12b-1 rate.

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MEMORANDUM OF AGREEMENT (Expense Limitations)

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