1
EXHIBIT h(4)(a)
MEMORANDUM OF AGREEMENT
This Memorandum of Agreement is entered into as of this 3rd day of May,
1999 between AIM Advisor Funds, Inc. (the "Company"), on behalf of the funds
listed on Exhibit "A" to this Memorandum of Agreement (the "Funds"), and A I M
Advisors, Inc. ("AIM").
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 Company and AIM agree as follows:
The Company and AIM agree until the date set forth on the attached
Exhibit "A" that AIM will waive its operating services fees at the rates set
forth on Exhibit "A" of the average daily net assets allocable to such class.
Neither the Company nor AIM may remove or amend the waivers to the Company's
detriment prior to the date set forth on Exhibit "A." AIM will not have any
right to reimbursement of any amount so waived.
The Company and AIM agree to review the then-current operating services
fee waivers for each class of each Fund listed on Exhibit "A" on a date prior to
the date listed on that Exhibit to determine whether such waivers should be
amended, continued or terminated. Unless the Company, by vote of its Board of
Directors, or AIM terminates the waivers, or the Company and AIM are unable to
reach an agreement on the amount of the waivers to which the Company and AIM
desire to be bound, the waivers will continue for additional one-year terms at
the rate to which the Company and AIM mutually agree. Exhibit "A" will be
amended to reflect that rate and the new date through which the Company and AIM
agree to be bound.
IN WITNESS WHEREOF, the Company and AIM have entered into this
Memorandum of Agreement as of the date first above written.
AIM Advisor Funds, Inc.,
on behalf of each Fund listed in Exhibit "A"
to this Memorandum of Agreement
By: /s/ XXXXXX X. XXXXXX
-----------------------------------------
Title: President
--------------------------------------
A I M Advisors, Inc.
By: /s/ XXXXXX X. XXXXXX
-----------------------------------------
Title: President
--------------------------------------
2
EXHIBIT "A"
-----------
AIM ADVISOR FUNDS, INC.
FUND FEE WAIVER COMMITTED UNTIL
---- ---------- ---------------
AIM Advisor Flex Fund
Class A 0.35% of operating service fees on average net June 30,1999
assets in excess of $50 million
Class B 0.35% of operating service fees on average net June 30,1999
assets in excess of $50 million
Class C 0.35% of operating service fees on average net June 30,1999
assets in excess of $50 million
AIM Advisor International
Value Fund
Class A 0.35% of operating service fees on average net June 30,1999
assets in excess of $50 million
Class B 0.35% of operating service fees on average net June 30,1999
assets in excess of $50 million
Class C 0.35% of operating service fees on average net June 30,1999
assets in excess of $50 million
AIM Advisor Large Cap
Value Fund 0.35% of operating service fees on average net June 30, 1999
Class A assets in excess of $50 million
0.35% of operating service fees on average net June 30, 1999
Class B assets in excess of $50 million
0.35% of operating service fees on average net June 30, 1999
Class C assets in excess of $50 million
AIM Advisor MultiFlex Fund
Class A 0.35% of operating service fees on average net June 30, 1999
assets in excess of $50 million
Class B 0.35% of operating service fees on average net June 30, 1999
assets in excess of $50 million
Class C 0.35% of operating service fees on average net June 30, 1999
assets in excess of $50 million
AIM Advisor Real Estate
Fund
Class A 0.35% of operating service fees on average net June 30, 1999
assets in excess of $50 million
Class B 0.35% of operating service fees on average net June 30, 1999
assets in excess of $50 million
Class C 0.35% of operating service fees on average net June 30, 1999
assets in excess of $50 million
