EX-99.D.2.B

This Agreement is made as of January 16, 2015, by and among Invesco Advisers, Inc. (the “Adviser”) and Invesco Australia Limited (the “Subadviser”).

The Adviser has entered into an investment advisory agreement with each of the Trusts (the “Trusts”), each on behalf of itself and its series portfolios, if any, listed on Schedules A and B hereto, and with Invesco Exchange Fund (the “Limited Partnership”) (collectively, the “Invesco Funds”). The Adviser is authorized to delegate certain of its rights and obligations under the advisory agreements to subadvisers and has entered into Master Intergroup Sub-Advisory Contracts for Mutual Funds with certain affiliated subadvisers including the Subadviser (the “Subadvisory Contracts”).

Capitalized terms not defined herein, are used as defined in the Subadvisory Contracts. The Adviser and the Subadviser desire to terminate the Subadvisory Contracts solely with respect to the Subadviser. Pursuant to Section 11 of the Subadvisory Contracts, the contracts may be terminated at any time without the payment of any penalty with sixty (60) days’ written notice from the Adviser to the Subadviser or from the Subadviser to a Trust or to the Limited Partnership.

Upon termination, the Adviser will assume all the duties and responsibilities of the Subadviser. The Subadviser has not undertaken any current duties under the Subadvisory Contracts and has no existing obligations or responsibilities thereunder. The Adviser and the Subadviser, with notice to and consent of the Invesco Funds, desire to terminate the Subadvisory Contracts solely with respect to the Subadviser with immediate effect.

NOW, THEREFORE, in consideration of the promises and the mutual covenants herein contained, it is agreed between the parties hereto, as follows:

1. Effective on execution of this Agreement, all Subadvisory Contracts are terminated with respect to the Subadviser.

2. Notice to and Consent of Invesco Funds. This Agreement provides notice to each of the Invesco Funds of the termination of the Subadviser. By signing this Agreement, each Trust, on behalf of itself and its series portfolios, and the Limited Partnership acknowledge that the Subadvisory Contracts between the Adviser and the Subadviser will terminate immediately with respect to the Subadviser, and waives the requirement for sixty (60) days prior notice.

3. Effect on Other Contracts. For ease of administration, the Subadvisory Contracts were signed by multiple parties including other subadvisers. It is understood and agreed that this Termination Agreement only constitutes an agreement between the Adviser and the Subadviser and in no way releases or affects any of the other Subadvisers or any other Subadvisory Contracts.

4. Release. In consideration of the early termination of the Subadvisory Contracts, the Subadviser releases the Adviser and each of the Invesco Funds from any conditions or liabilities under the Subadvisory Contracts. The Subadviser acknowledges that no compensation is due to the Subadviser upon this release.

IN WITNESS WHEREOF, the parties hereto have caused this Termination Agreement to be executed by their officers as the day and year above first written.


INVESCO ADVISERS, INC.

By: /s/ John M. Zerr
Name: John M. Zerr
Title: Senior Vice President

INVESCO AUSTRALIA LIMITED

By: /s/ Nick Burrell		/s/ Mark Yesberg
Name: Nick Burrell		Mark Yesberg
Title: Company Secretary		Director

Each Trust (listed on Schedule A) on behalf of itself and each Fund listed on Schedule A

By: /s/ John M. Zerr

Name: John M. Zerr

Title: Senior Vice President

AIM Treasurer’s Series Trust (Invesco Treasurer’s Series Trust), on behalf of itself and each Portfolio listed on Schedule B

By: /s/ John M. Zerr

Name: John M. Zerr

Title: Senior Vice President

Short-Term Investments Trust, on behalf of itself and each Portfolio listed on Schedule B

By: /s/ John M. Zerr

Name: John M. Zerr

Title: Senior Vice President

Invesco Exchange Fund (listed on Schedule A), a California limited partnership

By: /s/ John M. Zerr

Name: John M. Zerr

Title: Senior Vice President