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, AIM
Equity Funds, AIM Growth Series, AIM Investment Funds, AIM Investment Securities
Funds, AIM Sector Funds, AIM Stock Funds, AIM Tax-Exempt Funds, AIM Variable
Insurance Funds, Short-Term Investments Trust and Tax-Free 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 A I M
Advisors, Inc. ("AIM"). This Memorandum of Agreement restates the Memorandum of
Agreement dated April 1, 2007 between AIM Counselor Series Trust, AIM Equity
Funds, AIM Funds Group, AIM Growth Series, AIM Investment Funds, AIM Investment
Securities Funds, AIM Sector Funds, AIM Stock Funds, AIM Tax-Exempt Funds, AIM
Variable Insurance Funds, Short-Term Investments Trust and Tax-Free Investments
Trust. AIM 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 AIM agree as follows:
For the Contractual Limits (listed in Exhibits A - D), the Trusts and AIM
agree until at least the expiration date set forth on the attached Exhibits A -
D (the "Expiration Date") that AIM 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 items; (v)
expenses related to a merger or reorganization, as approved by the Funds' Boards
of Trustees; (vi) expenses of the underlying funds that are paid indirectly as a
result of share ownership of the underlying funds, 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 AIM may terminate or modify this Memorandum
of Agreement prior to the Expiration Date only by mutual written consent. AIM
will not have any right to reimbursement of any amount so waived or reimbursed.
For the Contractual Limits, each of the Trusts and AIM 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 AIM 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 AIM
agree that these are not contractual in nature and that AIM 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
AIM 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 AIM have entered into this
Memorandum of Agreement as of the Effective Dates on the attached Exhibits.
AIM COUNSELOR SERIES TRUST
AIM EQUITY FUNDS
AIM GROWTH SERIES
AIM INVESTMENT FUNDS
AIM INVESTMENT SECURITIES FUNDS
AIM SECTOR FUNDS
AIM STOCK FUNDS
AIM TAX-EXEMPT FUNDS
AIM VARIABLE INSURANCE FUNDS
on behalf of the Funds listed in the
Exhibits to this Memorandum of Agreement
By: /s/Xxxx X. Xxxx
------------------------------------
Title: Senior Vice President
SHORT-TERM INVESTMENTS TRUST
TAX-FREE INVESTMENTS TRUST
on behalf of the Funds listed in the
Exhibits to this Memorandum of Agreement
By: /s/ Xxxxx Xxxx Xxxxxx
------------------------------------
Title: President
AIM Advisors, Inc.
By: /s/ Xxxx X. Xxxx
------------------------------------
Title: Senior Vice President
2
as of July 1, 2007
EXHIBIT "A" - RETAIL FUNDS(1)
FUNDS WITH FISCAL YEAR END OF MARCH 31
AIM SECTOR FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
AIM Technology Fund
Class A Shares Contractual 1.55% July 1, 2005 June 30, 2008
Class B Shares Contractual 2.30% July 1, 2005 June 30, 2008
Class C Shares Contractual 2.30% July 1, 2005 June 30, 2008
Investor Class Shares Contractual 1.55% July 1, 2005 June 30, 2008
Institutional Class Shares Contractual 1.30% July 1, 2005 June 30, 2008
AIM Utilities Fund
Class A Shares Contractual 1.30% April 1, 2006 June 30, 2008
Class B Shares Contractual 2.05% April 1, 2006 June 30, 2008
Class C Shares Contractual 2.05% April 1, 2006 June 30, 2008
Investor Class Shares Contractual 1.30% April 1, 2006 June 30, 2008
Institutional Class Shares Contractual 1.05% April 1, 2006 June 30, 2008
AIM TAX-EXEMPT FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
AIM High Income Municipal Fund
Class A Shares Voluntary 0.70% April 1, 2007 N/A(2)
Class B Shares Voluntary 1.45% April 1, 2007 N/A(2)
Class C Shares Voluntary 1.45% April 1, 2007 N/A(2)
Institutional Class Shares Voluntary 0.45% April 1, 2007 N/A(2)
See page 8 for footnotes to Exhibit A.
3
as of July 1, 2007
FUNDS WITH FISCAL YEAR END OF JULY 31
AIM INVESTMENT SECURITIES FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
AIM Global Real Estate Fund
Class A Shares Contractual 1.40% July 1, 2005 June 30, 2008
Class B Shares Contractual 2.15% April 29, 2005 June 30, 2008
Class C Shares Contractual 2.15% April 29, 2005 June 30, 2008
Class R Shares Contractual 1.65% April 29, 2005 June 30, 2008
Institutional Class Shares Contractual 1.15% April 29, 2005 June 30, 2008
AIM Short Term Bond Fund
Class A Shares Contractual 0.85% July 1, 2005 June 30, 2008
Class C Shares Contractual 1.10%(3) February 1, 2006 June 30, 2008
Class R Shares Contractual 1.10% August 30, 2002 June 30, 2008
Institutional Class Shares Contractual 0.60% August 30, 2002 June 30, 2008
AIM Total Return Bond Fund
Class A Shares Contractual 1.00% July 1, 2005 June 30, 2008
Class B Shares Contractual 1.75% July 1, 2002 June 30, 2008
Class C Shares Contractual 1.75% July 1, 2002 June 30, 2008
Class R Shares Contractual 1.25% April 30, 2004 June 30, 2008
Institutional Class Shares Contractual 0.75% April 30, 2004 June 30, 2008
AIM STOCK FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
AIM Dynamics Fund
Class A Shares Contractual 1.20% July 1, 2005 June 30, 2008
Class B Shares Contractual 1.95% August 12, 2003 June 30, 2008
Class C Shares Contractual 1.95% August 12, 2003 June 30, 2008
Class R Shares Contractual 1.45% October 25, 2005 June 30, 2008
Investor Class Shares Contractual 1.20% August 12, 2003 June 30, 2008
Institutional Class Shares Contractual 0.95% August 12, 2003 June 30, 2008
AIM S&P 500 Index Fund
Investor Class Shares Contractual 0.60% August 1, 2005 June 30, 2008
Institutional Class Shares Contractual 0.35% August 12, 2003 June 30, 2008
See page 8 for footnotes to Exhibit A.
4
as of July 1, 2007
FUNDS WITH FISCAL YEAR END OF AUGUST 31
AIM COUNSELOR SERIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
AIM Floating Rate Fund
Class A Shares Contractual 1.50% April 14, 2006 June 30, 2008
Class C Shares Contractual 2.00% April 14, 2006 June 30, 2008
Class R Shares Contractual 1.75% April 14, 2006 June 30, 2008
Institutional Class Shares Contractual 1.25% April 14, 2006 June 30, 2008
AIM Structured Core Fund
Class A Contractual 1.00% March 31, 2006 June 30, 2008
Class B Contractual 1.75% March 31, 2006 June 30, 2008
Class C Contractual 1.75% March 31, 2006 June 30, 2008
Class R Contractual 1.25% March 31, 2006 June 30, 2008
Institutional Class Contractual 0.75% March 31, 2006 June 30, 2008
AIM Structured Growth Fund
Class A Contractual 1.00% March 31, 2006 June 30, 2008
Class B Contractual 1.75% March 31, 2006 June 30, 2008
Class C Contractual 1.75% March 31, 2006 June 30, 2008
Class R Contractual 1.25% March 31, 2006 June 30, 2008
Institutional Class Contractual 0.75% March 31, 2006 June 30, 2008
AIM Structured Value Fund
Class A Contractual 1.00% March 31, 2006 June 30, 2008
Class B Contractual 1.75% March 31, 2006 June 30, 2008
Class C Contractual 1.75% March 31, 2006 June 30, 2008
Class R Contractual 1.25% March 31, 2006 June 30, 2008
Institutional Class Contractual 0.75% March 31, 2006 June 30, 2008
FUNDS WITH FISCAL YEAR END OF OCTOBER 31
AIM EQUITY FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
AIM Diversified Dividend Fund
Class A Shares Contractual 1.00% July 1, 2005 June 30, 2008
Class B Shares Contractual 1.65% May 2, 2003 June 30, 2008
Class C Shares Contractual 1.65% May 2, 2003 June 30, 2008
Class R Shares Contractual 1.25% October 25, 2005 June 30, 2008
Investor Class Shares Contractual 1.00% July 15, 2005 June 30, 2008
Institutional Class Shares Contractual 0.75% October 25, 2005 June 30, 2008
AIM Large Cap Basic Value Fund
Class A Shares Contractual 1.22% July 1, 2005 June 30, 2008
Class B Shares Contractual 1.97% July 1, 2005 June 30, 2008
Class C Shares Contractual 1.97% July 1, 2005 June 30, 2008
Class R Shares Contractual 1.47% July 1, 2005 June 30, 2008
Investor Class Shares Contractual 1.22% July 1, 2005 June 30, 2008
Institutional Class Shares Contractual 0.97% July 1, 2005 June 30, 2008
AIM Large Cap Growth Fund
Class A Shares Contractual 1.32% July 1, 2005 June 30, 2008
Class B Shares Contractual 2.07% July 1, 2005 June 30, 2008
Class C Shares Contractual 2.07% July 1, 2005 June 30, 2008
Class R Shares Contractual 1.57% July 1, 2005 June 30, 2008
Investor Class Shares Contractual 1.32% July 1, 2005 June 30, 2008
Institutional Class Shares Contractual 1.07% July 1, 2005 June 30, 2008
5
AIM INVESTMENT FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ -------------
AIM China Fund
Class A Shares Contractual 2.05% March 31, 2006 June 30, 2008
Class B Shares Contractual 2.80% March 31, 2006 June 30, 2008
Class C Shares Contractual 2.80% March 31, 2006 June 30, 2008
Institutional Class Shares Contractual 1.80% March 31, 2006 June 30, 2008
AIM Developing Markets Fund
Class A Shares Contractual 1.75% July 1, 2005 June 30, 2008
Class B Shares Contractual 2.50% July 1, 2002 June 30, 2008
Class C Shares Contractual 2.50% July 1, 2002 June 30, 2008
Institutional Class Shares Contractual 1.50% October 25, 2005 June 30, 2008
AIM Global Health Care Fund
Class A Shares Contractual 1.30% July 18, 2005 June 30, 2008
Class B Shares Contractual 2.05% July 18, 2005 June 30, 2008
Class C Shares Contractual 2.05% July 18, 2005 June 30, 2008
Investor Class Shares Contractual 1.30% July 18, 2005 June 30, 2008
AIM International Total Return Fund
Class A Shares Contractual 1.10% March 31, 2006 June 30, 2008
Class B Shares Contractual 1.85% March 31, 2006 June 30, 2008
Class C Shares Contractual 1.85% March 31, 2006 June 30, 2008
Institutional Class Shares Contractual 0.85% Xxxxx 00, 0000 Xxxx 00, 0000
XXX Xxxxx Fund
Class A Shares Contractual 1.70% March 31, 2006 June 30, 2008
Class B Shares Contractual 2.45% March 31, 2006 June 30, 2008
Class C Shares Contractual 2.45% March 31, 2006 June 30, 2008
Institutional Class Shares Contractual 1.45% March 31, 2006 June 30, 2008
AIM LIBOR Alpha Fund
Class A Shares Contractual 0.85% March 31, 2006 June 30, 2008
Class C Shares Contractual 1.10%(3) March 31, 2006 June 30, 2008
Class R Shares Contractual 1.10% March 31, 2006 June 30, 2008
Institutional Class Shares Contractual 0.60% March 31, 2006 June 30, 2008
AIM Trimark Fund
Class A Shares Contractual 2.15% July 1, 2005 June 30, 2008
Class B Shares Contractual 2.90% November 1, 2004 June 30, 2008
Class C Shares Contractual 2.90% November 1, 2004 June 30, 2008
Class R Shares Contractual 2.40% November 1, 2004 June 30, 2008
Institutional Class Shares Contractual 1.90% November 1, 2004 June 30, 2008
AIM Trimark Small Companies Fund
Class A Shares Contractual 1.50% September 30, 2005 June 30, 2008
Class B Shares Contractual 2.25% September 30, 2005 June 30, 2008
Class C Shares Contractual 2.25% September 30, 2005 June 30, 2008
Class R Shares Contractual 1.75% September 30, 2005 June 30, 2008
Institutional Class Shares Contractual 1.25% September 30, 2005 June 30, 2008
See page 8 for footnotes to Exhibit A.
6
FUNDS WITH FISCAL YEAR END OF DECEMBER 31
AIM GROWTH SERIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
AIM Small Cap Growth Fund
Class A Shares Contractual 1.50% April 10, 2006 June 30, 2008
Class B Shares Contractual 2.25% April 10, 2006 June 30, 2008
Class C Shares Contractual 2.25% April 10, 2006 June 30, 2008
Class R Shares Contractual 1.75% April 10, 2006 June 30, 2008
Investor Class Shares Contractual 1.50% April 10, 2006 June 30, 2008
Institutional Class Shares Contractual 1.25% April 10, 2006 June 30, 2008
(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) AIM may establish, amend or terminate voluntary waivers at any time in its
sole discretion after consultation with the Trust.
(3) The expense limit shown is the expense limit after Rule 12b-1 fee waivers
by A I M Distributors, Inc.
7
as of July 1, 2007
EXHIBIT "B" - ASSET ALLOCATION FUNDS(1)
AIM GROWTH SERIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE EXPIRATION
FUND VOLUNTARY LIMITATION(2) OF CURRENT LIMIT DATE
---- ------------ -------------------------------- ---------------- -------------
AIM Conservative Allocation Fund
Class A Shares Contractual Limit Other Expenses to 0.23% of January 1, 2006 June 30, 2008
average daily net assets
Class B Shares Contractual Limit Other Expenses to 0.23% of January 1, 2006 June 30, 2008
average daily net assets
Class C Shares Contractual Limit Other Expenses to 0.23% of January 1, 2006 June 30, 2008
average daily net assets
Class R Shares Contractual Limit Other Expenses to 0.23% of January 1, 2006 June 30, 2008
average daily net assets
Institutional Class Shares Contractual Limit Other Expenses to 0.23% of January 1, 2006 June 30, 2008
average daily net assets
AIM Growth Allocation Fund
Class A Shares Contractual Limit Other Expenses to 0.21% of January 1, 2006 June 30, 2008
average daily net assets
Class B Shares Contractual Limit Other Expenses to 0.21% of January 1, 2006 June 30, 2008
average daily net assets
Class C Shares Contractual Limit Other Expenses to 0.21% of January 1, 2006 June 30, 2008
average daily net assets
Class R Shares Contractual Limit Other Expenses to 0.21% of January 1, 2006 June 30, 2008
average daily net assets
Institutional Class Shares Contractual Limit Other Expenses to 0.21% of January 1, 2006 June 30, 2008
average daily net assets
AIM Income Allocation Fund
Class A Contractual Limit Other Expenses to 0.03% of January 1, 2006 June 30, 2008
average daily net assets
Class B Contractual Limit Other Expenses to 0.03% of January 1, 2006 June 30, 2008
average daily net assets
Class C Contractual Limit Other Expenses to 0.03% of January 1, 2006 June 30, 2008
average daily net assets
Class R Contractual Limit Other Expenses to 0.03% of January 1, 2006 June 30, 2008
average daily net assets
Institutional Class Contractual Limit Other Expenses to 0.03% of January 1, 2006 June 30, 2008
average daily net assets
See page 13 for footnotes to Exhibit B.
8
as of July 1, 2007
CONTRACTUAL/ EXPENSE EFFECTIVE DATE EXPIRATION
FUND VOLUNTARY LIMITATION(2) OF CURRENT LIMIT DATE
---- ------------ -------------------------------- ---------------- -------------
AIM Independence Now Fund
Class A Contractual Limit Other Expenses to 0.16% of January 31, 2007 June 30, 2008
average daily net assets
Class B Contractual Limit Other Expenses to 0.16% of January 31, 2007 June 30, 2008
average daily net assets
Class C Contractual Limit Other Expenses to 0.16% of January 31, 2007 June 30, 2008
average daily net assets
Class R Contractual Limit Other Expenses to 0.16% of January 31, 2007 June 30, 2008
average daily net assets
Institutional Class Contractual Limit Other Expenses to 0.16% of January 31, 2007 June 30, 2008
average daily net assets
AIM Independence 2010 Fund
Class A Contractual Limit Other Expenses to 0.17% of January 31, 2007 June 30, 2008
average daily net assets
Class B Contractual Limit Other Expenses to 0.17% of January 31, 2007 June 30, 2008
average daily net assets
Class C Contractual Limit Other Expenses to 0.17% of January 31, 2007 June 30, 2008
average daily net assets
Class R Contractual Limit Other Expenses to 0.17% of January 31, 2007 June 30, 2008
average daily net assets
Institutional Class Contractual Limit Other Expenses to 0.17% of January 31, 2007 June 30, 2008
average daily net assets
AIM Independence 2020 Fund
Class A Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
Class B Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
Class C Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
Class R Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
Institutional Class Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
See page 13 for footnotes to Exhibit B.
9
as of July 1, 2007
CONTRACTUAL/ EXPENSE EFFECTIVE DATE EXPIRATION
FUND VOLUNTARY LIMITATION(2) OF CURRENT LIMIT DATE
---- ------------ -------------------------------- ---------------- -------------
AIM Independence 2030 Fund
Class A Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average dail net assets
Class B Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
Class C Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
Class R Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
Institutional Class Contractual Limit Other Expenses to 0.24% of January 31, 2007 June 30, 2008
average daily net assets
AIM Independence 2040 Fund
Class A Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
Class B Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
Class C Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
Class R Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
Institutional Class Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
AIM Independence 2050 Fund
Class A Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
Class B Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
Class C Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
Class R Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
Institutional Class Contractual Limit Other Expenses to 0.28% of January 31, 2007 June 30, 2008
average daily net assets
See page 13 for footnotes to Exhibit B.
10
as of July 1, 2007
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE
---- ------------ -------------------------------- ----------------- -------------
AIM International Allocation Fund
Class A Contractual Limit Other Expenses to 0.18% of October 31, 2005 June 30, 2008
average daily net assets
Class B Contractual Limit Other Expenses to 0.18% of October 31, 2005 June 30, 2008
average daily net assets
Class C Contractual Limit Other Expenses to 0.18% of October 31, 2005 June 30, 2008
average daily net assets
Class R Contractual Limit Other Expenses to 0.18% of October 31, 2005 June 30, 2008
average daily net assets
Institutional Class Contractual Limit Other Expenses to 0.18% of October 31, 2005 June 30, 2008
average daily net assets
AIM Moderate Allocation Fund
Class A Shares Contractual Limit Other Expenses to 0.12% of January 1, 2006 June 30, 2008
average daily net assets
Class B Shares Contractual Limit Other Expenses to 0.12% of January 1, 2006 June 30, 2008
average daily net assets
Class C Shares Contractual Limit Other Expenses to 0.12% of January 1, 2006 June 30, 2008
average daily net assets
Class R Shares Contractual Limit Other Expenses to 0.12% of January 1, 2006 June 30, 2008
average daily net assets
Institutional Class Shares Contractual Limit Other Expenses to 0.12% of January 1, 2006 June 30, 2008
average daily net assets
AIM Moderate Growth Allocation Fund
Class A Shares Contractual Limit Other Expenses to 0.12% of April 29, 2005 June 30, 2008
average daily net assets
Class B Shares Contractual Limit Other Expenses to 0.12% of April 29, 2005 June 30, 2008
average daily net assets
Class C Shares Contractual Limit Other Expenses to 0.12% of April 29, 2005 June 30, 2008
average daily net assets
Class R Shares Contractual Limit Other Expenses to 0.12% of April 29, 2005 June 30, 2008
average daily net assets
Institutional Class Shares Contractual Limit Other Expenses to 0.12% of April 29, 2005 June 30, 2008
average daily net assets
See page 13 for footnotes to Exhibit B.
11
as of July 1, 2007
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE
---- ------------ --------------------------------- ----------------- -------------
AIM Moderately Conservative
Allocation Fund
Class A Shares Contractual Limit Other Expenses to 0.14% of April 29, 2005 June 30, 2008
average daily net assets
Class B Shares Contractual Limit Other Expenses to 0.14% of April 29, 2005 June 30, 2008
average daily net assets
Class C Shares Contractual Limit Other Expenses to 0.14% of April 29, 2005 June 30, 2008
average daily net assets
Class R Shares Contractual Limit Other Expenses to 0.14% of April 29, 2005 June 30, 2008
average daily net assets
Institutional Class Shares Contractual Limit Other Expenses to 0.14% of April 29, 2005 June 30, 2008
average daily net assets
(1) Other expenses of any class of shares established after the date of this
Memorandum of Agreement will be limited to the same amount established for
Class A shares.
(2) Other Expenses are defined as all normal operating expenses of the fund,
excluding management fees and 12b-1 expenses, if any. The expense
limitation is subject to the exclusions as listed in the Memorandum of
Agreement.
12
as of July 1, 2007
EXHIBIT "C" - INSTITUTIONAL MONEY MARKET FUNDS(1, 2)
FUNDS WITH FISCAL YEAR END OF MARCH 31
TAX-FREE INVESTMENTS TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Tax-Free Cash Reserve Portfolio(3)
Cash Management Class Contractual 0.22% June 30, 2005 June 30, 2008
Corporate Class Contractual 0.22% June 30, 2005 June 30, 2008
Institutional Class Contractual 0.22% June 30, 2005 June 30, 2008
Personal Investment Class Contractual 0.22% June 30, 2005 June 30, 2008
Private Investment Class Contractual 0.22% June 30, 2005 June 30, 2008
Reserve Class Contractual 0.22% June 30, 2005 June 30, 2008
Resource Class Contractual 0.22% June 30, 2005 June 30, 2008
FUNDS WITH FISCAL YEAR END OF AUGUST 31
SHORT-TERM INVESTMENTS TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
Government & Agency Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2008
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2008
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2008
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2008
Resource Class Contractual 0.12% June 30, 2005 June 30, 2008
Government TaxAdvantage Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2008
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2008
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2008
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2008
Resource Class Contractual 0.12% June 30, 2005 June 30, 2008
Liquid Assets Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2008
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2008
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2008
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2008
Resource Class Contractual 0.12% June 30, 2005 June 30, 2008
See page 15 for footnotes to Exhibit C.
13
as of July 1, 2007
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ----------------- -------------
STIC Prime Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2008
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2008
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2008
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2008
Resource Class Contractual 0.12% June 30, 2005 June 30, 2008
Treasury Portfolio
Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2008
Corporate Class Contractual 0.12% June 30, 2005 June 30, 2008
Institutional Class Contractual 0.12% June 30, 2005 June 30, 2008
Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2008
Reserve Class Contractual 0.12% June 30, 2005 June 30, 2008
Resource Class Contractual 0.12% June 30, 2005 June 30, 2008
(1) The expense limit shown excludes Rule 12b-1 fees.
(2) 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.
(3) The expense limitation also excludes Trustees' fees and federal
registration expenses.
14
as of July 1, 2007
EXHIBIT "D" - VARIABLE INSURANCE FUNDS
AIM VARIABLE INSURANCE FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
AIM V.I. Basic Balanced Fund
Series I Shares Contractual 0.91% July 1, 2005 April 30, 2009
Series II Shares Contractual 1.16% July 1, 2005 April 30, 2009
AIM V.I. Basic Value Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2009
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2009
AIM V.I. Capital Appreciation Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2009
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2009
AIM V.I. Capital Development Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2009
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2009
AIM V.I. Core Equity Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2009
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2009
AIM V.I. Diversified Income Fund
Series I Shares Contractual 0.75% July 1, 2005 April 30, 2009
Series II Shares Contractual 1.00% July 1, 2005 April 30, 2009
AIM V.I. Dynamics Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2009
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2009
AIM V.I. Financial Services Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2009
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2009
AIM V.I. Global Health Care Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2009
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2009
AIM V.I. Global Real Estate Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2009
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2009
AIM V.I. Government Securities Fund
Series I Shares
Contractual 0.73% July 1, 2005 April 30, 2009
Series II Shares Contractual 0.98% July 1, 2005 April 30, 2009
15
as of July 1, 2007
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION
FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE
---- ------------ ---------- ------------------ --------------
AIM V.I. High Yield Fund
Series II Shares Contractual 0.95% July 1, 2005 April 30, 2009
Series II Shares Contractual 1.20% April 30, 2004 April 30, 2009
AIM V.I. International Growth Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2009
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2009
AIM V.I. Large Cap Growth Fund
Series I Shares Contractual 1.01% July 1, 2005 April 30, 2009
Series II Shares Contractual 1.26% July 1, 2005 April 30, 2009
AIM V.I. Leisure Fund
Series I Shares Contractual 1.01% April 30, 2004 April 30, 2009
Series II Shares Contractual 1.26% April 30, 2004 April 30, 2009
AIM V.I. Mid Cap Core Equity Fund
Series I Shares Contractual 1.30% September 10, 2001 April 30, 2009
Series II Shares Contractual 1.45% September 10, 2001 April 30, 2009
AIM V.I. Money Market Fund
Series I Shares Contractual 1.30% January 1, 2005 April 30, 2009
Series II Shares Contractual 1.45% January 1, 2005 April 30, 2009
AIM V.I. Small Cap Equity Fund
Series I Shares Contractual 1.15% July 1, 2005 April 30, 2009
Series II Shares Contractual 1.40% July 1, 2005 April 30, 2009
AIM V.I. Technology Fund
Series I Shares Contractual 1.30% April 30, 2004 April 30, 2009
Series II Shares Contractual 1.45% April 30, 2004 April 30, 2009
AIM V.I. Utilities Fund
Series I Shares Contractual 0.93% September 23, 2005 April 30, 2009
Series II Shares Contractual 1.18% September 23, 2005 April 30, 2009
16
