EXHIBIT d(1)(c)
AMENDMENT NO. 2
TO
MASTER INVESTMENT ADVISORY AGREEMENT
This amendment dated as of September 7, 2001, amends the Master
Investment Advisory Agreement (the "Agreement"), dated May 1, 2000, between AIM
Variable Insurance Funds, a Delaware business trust, and A I M Advisors, Inc., a
Delaware corporation.
WITNESSETH:
WHEREAS, the parties desire to amend the Agreement to add AIM V.I.
Basic Value Fund and AIM V.I. Mid Cap Equity 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
NAME OF FUND EFFECTIVE DATE OF ADVISORY AGREEMENT
------------ ------------------------------------
AIM V.I. Aggressive Growth Fund May 1, 2000
AIM V.I. Balanced Fund May 1, 2000
AIM V.I. Basic Value Fund September 7, 2001
AIM V.I. Blue Chip Fund May 1, 2000
AIM V.I. Capital Appreciation Fund May 1, 2000
AIM V.I. Capital Development Fund May 1, 2000
AIM V.I. Dent Demographic Trends Fund May 1, 2000
AIM V.I. Diversified Income Fund May 1, 2000
AIM V.I. Global Utilities Fund May 1, 2000
AIM V.I. Government Securities Fund May 1, 2000
AIM V.I. Growth and Income Fund May 1, 2000
AIM V.I. Growth Fund May 1, 2000
AIM V.I. High Yield Fund May 1, 2000
AIM V.I. International Equity Fund May 1, 2000
AIM V.I. Mid Cap Equity Fund September 7, 2001
AIM V.I. Money Market Fund May 1, 2000
AIM V.I. New Technology Fund May 1, 2001
AIM V.I. Value Fund May 1, 0000
XXXXXXXX X
COMPENSATION TO THE ADVISOR
The Trust shall pay the Advisor, 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 V.I. CAPITAL APPRECIATION FUND
AIM V.I. GROWTH FUND
AIM V.I. GROWTH AND INCOME FUND
AIM V.I. GLOBAL UTILITIES FUND
AIM V.I. VALUE FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million................................................. 0.65%
Over $250 million.................................................. 0.60%
AIM V.I. AGGRESSIVE GROWTH FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $150 million................................................. 0.80%
Over $150 million.................................................. 0.625%
AIM V.I. BALANCED FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $150 million................................................. 0.75%
Over $150 million.................................................. 0.50%
AIM V.I. BASIC VALUE FUND
AIM V.I. MID CAP EQUITY FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $500 million................................................. 0.725%
Next $500 million.................................................. 0.700%
Next $500 million.................................................. 0.675%
Excess over $1.5 billion........................................... 0.65%
AIM V.I. BLUE CHIP FUND
AIM V.I. CAPITAL DEVELOPMENT FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $350 million................................................. 0.75%
Over $350 million.................................................. 0.625%
AIM V.I. DENT DEMOGRAPHIC TRENDS FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $2 billion................................................... 0.85%
Over $2 billion.................................................... 0.80%
AIM V.I. DIVERSIFIED INCOME FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million................................................. 0.60%
Over $250 million.................................................. 0.55%
AIM V.I. NEW TECHNOLOGY FUND
NET ASSETS ANNUAL RATE
---------- -----------
Average Daily Net Assets........................................... 1.00%
AIM V.I. GOVERNMENT SECURITIES FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million................................................. 0.50%
Over $250 million.................................................. 0.45%
AIM V.I. HIGH YIELD FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $200 million................................................. 0.625%
Next $300 million.................................................. 0.55%
Next $500 million.................................................. 0.50%
Amount over $1 billion............................................. 0.45%
AIM V.I. INTERNATIONAL EQUITY FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million................................................. 0.75%
Over $250 million.................................................. 0.70%
AIM V.I. MONEY MARKET FUND
NET ASSETS ANNUAL RATE
---------- -----------
First $250 million................................................. 0.40%
Over $250 million.................................................. 0.35%"
2. In all other respects, the Agreement is hereby confirmed and remains
in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be executed
by their respective officers on the date first written above.
Date: September 7, 2001
AIM VARIABLE INSURANCE FUNDS
Attest: /s/ P. XXXXXXXX XXXXX By: /s/ XXXXXX X. XXXXXX
------------------------ --------------------------------
Assistant Secretary President
(SEAL)
A I M ADVISORS, INC.
Attest: /s/ P. XXXXXXXX XXXXX By: /s/ XXXXXX X. XXXXXX
------------------------ --------------------------------
Assistant Secretary President
(SEAL)
