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EXHIBIT 1.A(1)(g)
AMENDMENT NO. 2
CUSTODIAN AGREEMENT
BETWEEN
STATE STREET BANK AND TRUST COMPANY
AND
A I M DISTRIBUTORS, INC.
The Custodian Agreement (the "Agreement"), dated May 1, 1996, as
amended effective March 1, 1999, by and between A I M DISTRIBUTORS, INC., a
Delaware corporation with its principal office at Eleven Xxxxxxxx Xxxxx, Xxxxx
0000, Xxxxxxx, Xxxxx and STATE STREET BANK AND TRUST COMPANY, a Massachusetts
banking corporation having an office at 000 Xxxxxxxx Xxxxxx, Xxxxxx,
Xxxxxxxxxxxxx 00000, is hereby amended as follows:
1. The first sentence of Section II.A.7 of the Custodian
Agreement is hereby amended and restated to read in full as
follows:
"The Custodian and the Sponsor agree that a
Planholder who owns any completed Plan may make
additional investments, without completing a new Plan
application, thereby activating the Extended
Investment Option, subject to the same deductions as
applied to the Planholder's last scheduled payment."
2. The last sentence of Section II.B.4.c.(iv) of the Custodian
Agreement is hereby amended and restated to read in full as
follows:
Notwithstanding these provisions, a Planholder may
make a partial withdrawal and reinvestment of the
account in a manner which complies with the rules of
the Internal Revenue Code regarding XXX rollovers.
All reinvestments must be at least 25% of the amount
withdrawn or $500, whichever is less.
3. Section II.B.4.c.(v) of the Custodian Agreement is hereby
amended and restated to read in full as follows:
"(v) The Planholder will be liable for any transfer
taxes that may be required."
4. The third paragraph of Section II.B.5 of the Custodian
Agreement is hereby amended and restated to read in full as
follows:
"The Sponsor reserves the right (upon 90 day's
notice) to discontinue offering Systematic Withdrawal
Programs."
5. The first clause of the first sentence of Section II.B.6 of
the Custodian Agreement is hereby amended and restated to read
in full as follows:
"The Custodian and the Sponsor agree that a
Planholder may, subject to transfer taxes, if any,
(a)..."
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6. The first sentence of Section II.B.7(a) of the Custodian
Agreement is hereby amended and restated to read in full as
follows:
"A Planholder may, at any time up to the time of his
death and subject to a fee set forth in Schedule A,
terminate his Plan in accordance with the provisions
thereof by notifying the Custodian in writing."
7. The first sentence of the second paragraph of Section II.B.8.d
of the Custodian Agreement is hereby amended and restated to
read in full as follows:
"After the completion of all Plan payments or, if
payments have been made in advance, after the
expiration of fifteen (15) years from the date of the
Plan, the Custodian receives the Annual Account
Service Fee for an Open Account set forth in Schedule
A."
8. Section II.D.5. of the Custodian Agreement is hereby amended
and restated to read in full as follows:
"5. Delegation. Any and all duties of the Custodian
enumerated in the foregoing provisions of this
subparagraph II.D are hereby delegated to the Sponsor
until such time as the Custodian notifies the Sponsor
that it is terminating such delegation. The effect of
such termination will be that the Custodian will
perform the foregoing duties."
9. The first sentence of Section II.E.1 of the Custodian
Agreement is hereby amended and restated to read in full as
follows:
"As remuneration for the services to be performed by
the Custodian under this Agreement, the Custodian
shall receive the fees, charges, and reimbursements
for expenses as set forth in the attached Schedule A,
this Agreement and the Prospectus, and for all other
expenses incurred, whether or not otherwise
enumerated, in connection with the performance of its
duties under this Agreement."
10. Section II.E.2 of the Custodian Agreement is hereby amended
and restated to read in full as follows:
"2. Payments to Sponsor. No payment to the Sponsor,
or to any affiliated person or agent of the Sponsor,
shall be allowed the Custodian as an expense except
for payment to the Sponsor of the expenses incurred
by the Sponsor in connection with the duties
delegated to the Sponsor as described in the
immediately preceding paragraph."
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11. Schedule A of the Agreement is hereby deleted in its entirety
and replaced with the following:
"SCHEDULE A
FEES SCHEDULE FOR
STATE STREET BANK AND TRUST COMPANY
FOR SERVICES AS PLAN CUSTODIAN
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The following fees and charges will be deducted from the Fund, Plans or
from Planholder accounts and paid to the Custodian in accordance with the terms
of the Prospectus.
General
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Account Service fees are based on an annual per shareholder account charge for
account maintenance plus transaction and out-of-pocket expenses. There is a
minimum charge of $1,500 per month(1). Fees are billable on a monthly basis at
the rate of 1/12 of the annual fee. A charge is made for an account in the month
that an account opens or closes.
Annual Account Service Fees
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Open Account $16.00/year(1)
Activity Based Fees
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Telephone Calls $ 2.50/each(1)
Correspondence $ 3.00/each(1)
New Account and Setup Kits $ 2.50/each(1)
Planholder Fees
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XXX Annual Maintenance $10.00/year
Bounced Checks $ 5.00/each
Transcripts $ 5.00/each year researched
Terminations $ 2.50/each
Inactive Accounts(2) $12.00/year
Out-of-Pocket Expenses(1)
Out-of-Pocket expenses include but are not limited to: Confirmation statements,
checks, postage, forms, telephone, microfilm, microfiche, year-end forms and
expenses incurred at the specific direction of the Sponsor.
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(1) These are fees that the Fund has voluntarily elected to pay to the
Custodian on behalf of the Plans.
(2) A Plan that is not current and to which no investments have been made
for a 12-month period but does not include completed plans. This fee
will be paid annually to the Sponsor or its designee."
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All other terms and provisions of the Agreement not amended herein
shall remain in full force and effect.
Date: June 30, 2000
A I M DISTRIBUTORS, INC.
Attest: /s/ P. XXXXXXXX XXXXX By: /s/ XXXXXXX X. XXXX
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Assistant Secretary President
(SEAL)
STATE STREET BANK AND TRUST
COMPANY
Attest: /s/ [ILLEGIBLE] By: /s/ XXXXXX X. XXXXX
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