AMENDMENT NO. 3 TO MASTER INVESTMENT ADVISORY AGREEMENT
AMENDMENT NO. 3
TO
This Amendment dated as of February 12, 2010, amends the Master Investment Advisory Agreement
(the “Agreement”), dated June 1, 2000, between AIM Tax-Exempt Funds, a Delaware statutory trust,
and Invesco Advisers, Inc., a Delaware corporation.
WITNESSETH:
WHEREAS, the parties desire to amend the Agreement to add the following portfolios — Invesco
Municipal Fund, Invesco Tax-Exempt Securities Fund, Invesco Xxx Xxxxxx California Insured Tax Free
Fund, Invesco Xxx Xxxxxx High Yield Municipal Fund, Invesco Xxx Xxxxxx Insured Tax Free Income
Fund, Invesco Xxx Xxxxxx Intermediate Term Municipal Income Fund, Invesco Xxx Xxxxxx Municipal
Income Fund and Invesco Xxx Xxxxxx New York Tax Free Income Fund;
NOW, THEREFORE, the parties agree as follows;
| 1. | Appendix A and Appendix B to the Agreement are hereby deleted in their entirety and replaced with the following: |
“APPENDIX A
FUNDS AND EFFECTIVE DATES
FUNDS AND EFFECTIVE DATES
| Name of Fund | Effective Date of Advisory Agreement | |
AIM High Income Municipal Fund
|
June 1, 2000 | |
AIM Tax-Exempt Cash Fund
|
June 1, 2000 | |
AIM Tax-Free Intermediate Fund
|
June 1, 2000 | |
Invesco Municipal Fund
|
February 12, 2010 | |
Invesco Tax-Exempt Securities Fund
|
February 12, 0000 | |
Xxxxxxx Xxx Xxxxxx Xxxxxxxxxx Insured Tax Free Fund
|
February 12, 2010 | |
Invesco Xxx Xxxxxx High Yield Municipal Fund
|
February 12, 2010 | |
Invesco Xxx Xxxxxx Insured Tax Free Income Fund
|
February 12, 2010 | |
Invesco Xxx Xxxxxx Intermediate Term Municipal Income Fund
|
February 12, 2010 | |
Invesco Xxx Xxxxxx Municipal Income Fund
|
February 12, 0000 | |
Xxxxxxx Xxx Xxxxxx Xxx Xxxx Tax Free Income Fund
|
February 12, 0000 |
XXXXXXXX X
COMPENSATION TO THE ADVISOR
COMPENSATION TO THE ADVISOR
The Trust shall pay the Adviser, out of the assets of a Fund, as full compensation for all
services rendered, an advisory fee for such Fund set forth below. Such fee shall be calculated by
applying the following annual rates to the average daily net assets of such Fund for the calendar
year computed in the manner used for the determination of the net asset value of shares of such
Fund.
AIM Tax-Free Intermediate Fund
| Net Assets | Annual Rate | |||
First $500 million |
0.30 | % | ||
Over $500 million to and including $1 billion |
0.25 | % | ||
Over $1 billion |
0.20 | % | ||
AIM Tax-Exempt Cash Fund
| Net Assets | Annual Rate | |||
All Assets |
0.35 | % | ||
AIM High Income Municipal Fund
| Net Assets | Annual Rate | |||
First $500 million |
0.60 | % | ||
Over $500 million to and including $1 billion |
0.55 | % | ||
Over $1 billion to and including $1.5 billion |
0.50 | % | ||
Over $1.5 billion |
0.45 | % | ||
Invesco Municipal Fund
| Net Assets | Annual Rate | |||
All Assets |
0.375 | % | ||
Invesco Tax-Exempt Securities Fund
| Net Assets | Annual Rate | |||
First $500 million |
0.42 | % | ||
Next $250 million |
0.345 | % | ||
Next $250 million |
0.295 | % | ||
Next $250 million |
0.27 | % | ||
Next $1.5 billion |
0.245 | % | ||
Over $2.5 billion |
0.22 | % | ||
0
Xxxxxxx Xxx Xxxxxx Xxxxxxxxxx Insured Tax Free Fund
| Net Assets | Annual Rate | |||
First $100 million |
0.50 | % | ||
Next $150 million |
0.45 | % | ||
Next $250 million |
0.425 | % | ||
Over $500 million |
0.40 | % | ||
Invesco Xxx Xxxxxx High Yield Municipal Fund
| Net Assets | Annual Rate | |||
First $300 million |
0.60 | % | ||
Next $300 million |
0.55 | % | ||
Over $600 million |
0.50 | % | ||
Invesco Xxx Xxxxxx Insured Tax Free Income Fund
| Net Assets | Annual Rate | |||
First $500 million |
0.525 | % | ||
Next $500 million |
0.50 | % | ||
Next $500 million |
0.475 | % | ||
Over $1.5 billion |
0.45 | % | ||
Invesco Xxx Xxxxxx Intermediate Term Municipal Income Fund
Invesco Xxx Xxxxxx Municipal Income Fund
Invesco Xxx Xxxxxx Municipal Income Fund
| Net Assets | Annual Rate | |||
First $500 million |
0.50 | % | ||
Over $500 million |
0.45 | % | ||
Invesco Xxx Xxxxxx New York Tax Free Income Fund
| Net Assets | Annual Rate | |||
First $500 million |
0.47 | % | ||
Over $500 million |
0.445 | %” | ||
| 2. | In all other respects, the Agreement is hereby confirmed and remains in full force and effect. |
3
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their respective
officers on the date first written above.
| AIM TAX-EXEMPT FUNDS | ||||||
Attest:
|
/s/ Xxxxxxx Xxxxxxx | By: | /s/ Xxxx X. Xxxx | |||
| Assistant Secretary | Xxxx X. Xxxx | |||||
| Senior Vice President | ||||||
(SEAL) |
||||||
| INVESCO ADVISERS, INC. | ||||||
Attest:
|
/s/ Xxxxxxx Xxxxxxx | By: | /s/ Xxxx X. Xxxx | |||
| Assistant Secretary | Xxxx X. Xxxx | |||||
| Senior Vice President | ||||||
(SEAL) |
||||||
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