Sub-Item 77Q1(e)
AMENDMENT NO. 1
TO
INVESTMENT ADVISORY AGREEMENT
THIS Amendment dated January 23, 2012, amends the Investment Advisory
Agreement (the "Agreement") dated June 1, 2010, by and between the registered
investment companies as set forth on Appendix I (each, a "Fund" and
collectively, the "Funds"), as the same may be amended from time to time, and
Invesco Advisers, Inc., a Delaware corporation (the "Adviser").
RECITALS
WHEREAS, the parties agree to amend the Agreement to (i) change the name of
Invesco California Insured Municipal Income Trust, Invesco Insured California
Municipal Securities, Invesco Insured Municipal Bond Trust, Invesco Insured
Municipal Income Trust, Invesco Insured Municipal Securities and Invesco Insured
Municipal Trust to Invesco California Municipal Income Trust, Invesco California
Municipal Securities, Invesco Value Municipal Bond Trust, Invesco Value
Municipal Income Trust, Invesco Value Municipal Securities and Invesco Value
Municipal Trust, respectively, and to (ii) remove Invesco Prime Income Trust;
NOW THEREFORE, the parties agree as follows:
1. Appendix I and II are deleted in their entirety and replaced with the
following:
"APPENDIX I
FUNDS AND EFFECTIVE DATES
All of the Funds referenced below are organized as Massachusetts business
trusts.
NAME OF FUND EFFECTIVE DATE OF ADVISORY AGREEMENT
------------------------------------------------ ------------------------------------
Invesco California Municipal Income Trust June 1, 0000
Xxxxxxx Xxxxxxxxxx Quality Municipal Securities June 1, 0000
Xxxxxxx Xxxxxxxxxx Municipal Securities June 1, 2010
Invesco Value Municipal Bond Trust June 1, 2010
Invesco Value Municipal Income Trust June 1, 2010
Invesco Value Municipal Securities June 1, 2010
Invesco Value Municipal Trust June 1, 2010
Invesco Municipal Income Opportunities Trust June 1, 2010
Invesco Municipal Income Opportunities Trust II June 1, 2010
Invesco Municipal Income Opportunities Trust III June 1, 2010
Invesco Municipal Premium Income Trust June 1, 2010
Invesco New York Quality Municipal Securities June 1, 2010
Invesco Quality Municipal Income Trust June 1, 2010
Invesco Quality Municipal Investment Trust June 1, 2010
Invesco Quality Municipal Securities June 1, 2010
APPENDIX II
COMPENSATION TO THE ADVISER
Each Fund shall pay the Adviser, out of the assets of the Fund, as full
compensation for all services rendered, an advisory fee for such Fund set
forth below.
FUND ANNUAL RATE
------------------------------------------------ --------------------------------------------------
Invesco California Municipal Income Trust 0.27% as a percentage of average weekly net assets*
Invesco California Quality Municipal Securities 0.27% as a percentage of average weekly net assets*
Invesco California Municipal Securities 0.27% as a percentage of average weekly net assets
Invesco Value Municipal Bond Trust 0.27% as a percentage of average weekly net assets*
Invesco Value Municipal Income Trust 0.27% as a percentage of average weekly net assets*
Invesco Value Municipal Securities 0.27% as a percentage of average weekly net assets
Invesco Value Municipal Trust 0.27% as a percentage of average weekly net assets*
Invesco Municipal Income Opportunities Trust 0.50% as a percentage of average weekly net assets
Invesco Municipal Income Opportunities Trust II 0.50% as a percentage of average weekly net assets
Invesco Municipal Income Opportunities Trust III 0.50% as a percentage of average weekly net assets
Invesco Municipal Premium Income Trust 0.40% as a percentage of average weekly net assets*
Invesco New York Quality Municipal Securities 0.27% as a percentage of average weekly net assets*
Invesco Quality Municipal Income Trust 0.27% as a percentage of average weekly net assets*
Invesco Quality Municipal Investment Trust 0.27% as a percentage of average weekly net assets*
Invesco Quality Municipal Securities 0.27% as a percentage of average weekly net assets*"
------------
* For the purpose of calculating the advisory fee, the liquidation
preference of any Preferred Shares issued by the Fund will not be deducted
from the Fund's total assets. In addition, an amount up to the aggregate
amount of any other borrowings may be included in the Fund's advisory fee
calculation.
2
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed in duplicate by their respective officers on the day and year first
written above.
ON BEHALF OF EACH FUND LISTED IN APPENDIX I
Attest:
/s/ Xxxxx Xxxxxxxx By: /s/ Xxxx X. Xxxx
--------------------------------- ------------------------------------
Assistant Secretary
Name: Xxxx X. Xxxx
(SEAL) Title: Senior Vice President
Attest: INVESCO ADVISERS, INC.
/s/ Xxxxx Xxxxxxxx By: /s/ Xxxx X. Xxxxxxxx
--------------------------------- ------------------------------------
Assistant Secretary
Name: Xxxx X. Xxxxxxxx
(SEAL) Title: Senior Vice President
3
