SUB-ITEM 77Q1(E)
AMENDMENT NO. 3
TO
MASTER INVESTMENT ADVISORY AGREEMENT
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
EFFECTIVE DATE OF
NAME OF FUND 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
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
ANNUAL
NET ASSETS 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
ANNUAL
NET ASSETS RATE
---------- ------
All Assets................................................ 0.35%
AIM HIGH INCOME MUNICIPAL FUND
ANNUAL
NET ASSETS 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
ANNUAL
NET ASSETS RATE
---------- ------
All Assets................................................ 0.375%
INVESCO TAX-EXEMPT SECURITIES FUND
ANNUAL
NET ASSETS 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
ANNUAL
NET ASSETS 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
ANNUAL
NET ASSETS RATE
---------- ------
First $300 million........................................ 0.60%
Next $300 million......................................... 0.55%
Over $600 million......................................... 0.50%
INVESCO XXX XXXXXX INSURED TAX FREE INCOME FUND
ANNUAL
NET ASSETS 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
ANNUAL
NET ASSETS RATE
---------- ------
First $500 million........................................ 0.50%
Over $500 million......................................... 0.45%
INVESCO XXX XXXXXX NEW YORK TAX FREE INCOME FUND
ANNUAL
NET ASSETS 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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