MEMORANDUM OF AGREEMENT
(12B-1 FEE WAIVERS)
This Memorandum of Agreement is entered into as of the effective date
listed on Exhibit "A" of this agreement, between AIM Investment Funds, AIM
Investment Securities Funds, AIM Tax-Exempt Funds and Short-Term Investments
Trust (each a "Trust" and, collectively, the "Trusts"), on behalf of the funds
or portfolios, as applicable, listed on Exhibit "A" to this Memorandum of
Agreement (the "Funds"), and Invesco Aim Distributors, Inc. ("Distributors").
Distributors shall and hereby agrees to waive fees of each Fund, on behalf of
its respective classes as applicable, severally and not jointly, as indicated in
the attached Exhibit "A".
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 Distributors agree as follows:
For the Contractual Waivers (listed in the attached Exhibit), the Trusts
and Distributors agree until at least the date set forth on the attached Exhibit
"A" (the "Expiration Date") that Distributors will waive Rule 12b-1 distribution
plan fees in an amount equal to the rates as set forth on Exhibit "A" multiplied
by the average annual daily net assets allocable to such class. Each Trust's
Board of Trustees and Distributors may terminate or modify this Memorandum of
Agreement prior to the Expiration Date only by mutual written consent.
Distributors will not have any right to reimbursement of any amount so waived.
For the Contractual Waivers, the Trusts and Distributors agree to review
the then-current waivers for each class of each Fund listed on Exhibit "A" on a
date prior to the Expiration Date to determine whether such waivers should be
amended, continued or terminated. The waivers will expire upon the Expiration
Date unless the Trusts and AIM have agreed to continue them. Exhibit "A" will be
amended to reflect any such agreement.
For any Voluntary Waivers, the Trust and Distributors agree that these are
not contractual in nature and that Distributors may establish, amend and/or
terminate such expense limitations at any time in its sole discretion after
consultation with each Trust's Board of Trustees. Any delay or failure by
Distributors to update this Memorandum of Agreement with regards to the
terminations, extensions, or expirations of any Voluntary Waivers shall have no
effect on the term of such Voluntary Waivers.
It is expressly agreed that the obligations of the Trusts 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 the Funds, 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 each Trust, and this Memorandum of Agreement has
been executed and delivered by an authorized officer of each Trust 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, the Trusts and Distributors have entered into this
Memorandum of Agreement as of the date first above written.
AIM INVESTMENT FUNDS
AIM INVESTMENT SECURITIES FUNDS
AIM TAX-EXEMPT FUNDS
on behalf of the Funds listed in
Exhibit "A" to this Memorandum of
Agreement
By: /s/ Xxxx X. Xxxx
------------------------------------
Title: Senior Vice President
SHORT-TERM INVESTMENTS TRUST
on behalf of the Funds listed in
Exhibit "A" to this Memorandum of
Agreement
By: /s/ Xxxx X. Xxxx
------------------------------------
Title: Senior Vice President
INVESCO AIM DISTRIBUTORS, INC.
By: /s/ Xxxx X. Xxxx
------------------------------------
Title: Senior Vice President
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EXHIBIT "A"
FUNDS WITH FISCAL YEAR END OF MARCH 31
AIM TAX-EXEMPT FUNDS
CONTRACTUAL/ EXPIRATION
FUND VOLUNTARY WAIVER EFFECTIVE DATE DATE
---- ------------ ------ ---------------- -------------
AIM Tax-Exempt Cash Fund Upon acquisition
Class A Shares Contractual 0.15% in 1993 June 30, 2009
FUNDS WITH FISCAL YEAR END OF JULY 31
AIM INVESTMENT SECURITIES FUNDS
CONTRACTUAL/ EXPIRATION
FUND VOLUNTARY WAIVER EFFECTIVE DATE DATE
---- ------------ ------ ---------------- -------------
AIM Money Market Fund
Cash Reserve Shares,
Class B, C and R Shares Contractual 0.10% January 1, 2008 June 30, 2009
AIM Short Term Bond Fund
Class C Shares Contractual 0.50% February 1, 2006 June 30, 2009
FUNDS WITH FISCAL YEAR END OF AUGUST 31
SHORT-TERM INVESTMENTS TRUST
CONTRACTUAL/ EXPIRATION
FUND VOLUNTARY WAIVER EFFECTIVE DATE DATE
---- ------------ ------ -------------- -------------
Government & Agency Portfolio
Cash Management Class Contractual 0.02% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.13% June 30, 2005 June 30, 2009
Resource Class Contractual 0.04% June 30, 2005 June 30, 2009
Government TaxAdvantage Portfolio
Cash Management Class Contractual 0.02% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.25% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.13% June 30, 2005 June 30, 2009
Resource Class Contractual 0.04% June 30, 2005 June 30, 2009
Liquid Assets Portfolio
Cash Management Class Contractual 0.02% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.13% June 30, 2005 June 30, 2009
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CONTRACTUAL/ EXPIRATION
FUND VOLUNTARY WAIVER EFFECTIVE DATE DATE
---- ------------ ------ -------------- -------------
STIC Prime Portfolio
Cash Management Class Contractual 0.02% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.13% June 30, 2005 June 30, 2009
Resource Class Contractual 0.04% June 30, 2005 June 30, 2009
Tax-Free Cash Reserve Portfolio(1)
Cash Management Class Contractual 0.02% April 30, 2008(2) June 30, 2009
Personal Investment Class Contractual 0.20% April 30, 2008(2) June 30, 2009
Private Investment Class Contractual 0.25% April 30, 2008(2) June 30, 2009
Reserve Class Contractual 0.13% April 30, 2008(2) June 30, 2009
Resource Class Contractual 0.04% April 30, 2008(2) June 30, 2009
Treasury Portfolio
Cash Management Class Contractual 0.02% June 30, 2005 June 30, 2009
Personal Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Private Investment Class Contractual 0.20% June 30, 2005 June 30, 2009
Reserve Class Contractual 0.13% June 30, 2005 June 30, 2009
Resource Class Contractual 0.04% June 30, 2005 June 30, 2009
FUNDS WITH FISCAL YEAR END OF OCTOBER 31
AIM INVESTMENT FUNDS
CONTRACTUAL/ EXPIRATION
FUND VOLUNTARY WAIVER EFFECTIVE DATE DATE
---- ------------ ------ -------------- -------------
AIM LIBOR Alpha Fund
Class C Shares Contractual 0.50% March 31, 2006 June 30, 2009
----------
(1) As of the date of this agreement, the fiscal year end of Tax-Free Cash
Reserve Portfolio is 3/31.
(2) As of the date of this agreement, the fiscal year end of Tax-Free Cash
Reserve Portfolio is 3/31. Effective April 30, 2008, Tax-Free Cash Reserve
Portfolio was reorganized as a portfolio of Tax-Free Investments Trust
("TFIT") to Short-Term Investments Trust following shareholder approval at
a meeting held on February 29, 2008. The Board of Trustees of TFIT
previously approved this expense limitation at a meeting on June 26-27,
2007 to be effective until at least June 30, 2008. As a portfolio of TFIT,
this limitation has been in effect since June 30, 2005.
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