EX-99.77Q1 OTHR EXHB 4 ex77q1e.txt EXHIBIT Sub-Item 77Q1(e) MEMORANDUM OF AGREEMENT (AFFILIATED MONEY MARKET FUND WAIVER) This Memorandum of Agreement is entered into as of the dates indicated on Exhibit "A" between AIM Counselor Series Trust, AIM Equity Funds, AIM Funds Group, AIM Growth Series, AIM International Mutual Funds, AIM Investment Funds, AIM Investment Securities Funds, AIM Sector Funds, AIM Stock Funds, AIM Summit Fund, AIM Tax-Exempt Funds, AIM Variable Insurance Funds and Short-Term Investments Trust (each a "Fund" and collectively, the "Funds"), on behalf of the portfolios listed on Exhibit "A" to this Memorandum of Agreement (the "Portfolios"), 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 Funds and AIM agree as follows: 1. Each Fund, for itself and its Portfolios, and AIM agree that until the expiration date, if any, of the commitment set forth on the attached Exhibit "A" occurs, as such Exhibit "A" is amended from time to time, AIM will waive advisory fees payable by an Investing Fund in an amount equal to 100% of the net advisory fee AIM receives on the Uninvested Cash (defined below) from the Affiliated Money Market Fund (defined below) in which the Investing Fund invests (the "Waiver"). i. AIM's Fund Accounting Group will calculate, and apply, the Waiver monthly, based upon the average investment of Uninvested Cash made by the Investing Fund during the previous month in an Affiliated Money Market Fund. ii. The Waiver will not apply to those investing Funds that do not charge an advisory fee, either due to the terms of their advisory agreement, or as a result of contractual or voluntary fee waivers. iii. The Waiver will not apply to cash collateral for securities lending. For purposes of the paragraph above, the following terms shall have the following meanings: (a) "Affiliated Money Market Fund" - any existing or future Fund that holds itself out as a money market fund and complies with Rule 2a-7 under the Investment Company Act of 1940, as amended; and (b) "Uninvested Cash" - cash available and uninvested by a Fund that may result from a variety of sources, including dividends or interest received on portfolio securities, unsettled securities transactions, strategic reserves, matured investments, proceeds from liquidation of investment securities, dividend payments, or new investor capital. 2. Neither a Fund nor AIM may remove or amend the Waiver to a Fund's detriment prior to requesting and receiving the approval of the Portfolio's Board of Trustee to remove or amend such Waiver. AIM will not have any right to reimbursement of any amount so waived. Subject to the foregoing paragraphs, each of the Funds and AIM agree to review the then-current waivers for each class of the Funds listed on the Exhibit 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 Funds and AIM have agreed to continue them. The Exhibit will be amended to reflect any such agreement. Nothing in this Memorandum of Agreement is intended to affect any other memorandum of agreement executed by any Fund or AIM with respect to any other fee waivers, expense reimbursements and/or expense limitations. IN WITNESS WHEREOF, each Fund, on behalf of itself and its Portfolios listed in Exhibit "A" to this Memorandum of Agreement, and AIM have entered into this Memorandum of Agreement as of the dates indicated on Exhibit "A". AIM COUNSELOR SERIES TRUST AIM EQUITY FUNDS AIM FUNDS GROUP AIM GROWTH SERIES AIM INTERNATIONAL MUTUAL FUNDS AIM INVESTMENT FUNDS AIM INVESTMENT SECURITIES FUNDS AIM SECTOR FUNDS AIM STOCK FUNDS AIM SUMMIT FUND AIM TAX-EXEMPT FUNDS AIM VARIABLE INSURANCE FUNDS By: /s/ John M. Zerr ------------------------------------ Title: Senior Vice President SHORT-TERM INVESTMENTS TRUST By: /s/ Karen D. Kelley ------------------------------------ Title: President A I M ADVISORS, INC. By: /s/ John M. Zerr ------------------------------------ Title: Senior Vice President 2 EXHIBIT "A" AIM COUNSELOR SERIES TRUST
PORTFOLIO EFFECTIVE DATE COMMITTED UNTIL --------- -------------- --------------- AIM Floating Rate Fund July 1, 2007 June 30, 2008 AIM Multi-Sector Fund July 1, 2007 June 30, 2008 AIM Select Real Estate Income Fund July 1, 2007 June 30, 2008 AIM Structured Core Fund July 1, 2007 June 30, 2008 AIM Structured Growth Fund July 1, 2007 June 30, 2008 AIM Structured Value Fund July 1, 2007 June 30, 2008
AIM EQUITY FUNDS
PORTFOLIO EFFECTIVE DATE COMMITTED UNTIL --------- -------------- --------------- AIM Capital Development Fund July 1, 2007 June 30, 2008 AIM Charter Fund July 1, 2007 June 30, 2008 AIM Constellation Fund July 1, 2007 June 30, 2008 AIM Diversified Dividend Fund July 1, 2007 June 30, 2008 AIM Large Cap Basic Value Fund July 1, 2007 June 30, 2008 AIM Large Cap Growth Fund July 1, 2007 June 30, 2008
AIM FUNDS GROUP
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM Basic Balanced Fund July 1, 2007 June 30, 2008 AIM European Small Company Fund July 1, 2007 June 30, 2008 AIM Global Value Fund July 1, 2007 June 30, 2008 AIM International Small Company Fund July 1, 2007 June 30, 2008 AIM Mid Cap Basic Value Fund July 1, 2007 June 30, 2008 AIM Select Equity Fund July 1, 2007 June 30, 2008 AIM Small Cap Equity Fund July 1, 2007 June 30, 2008
AIM GROWTH SERIES
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM Basic Value Fund July 1, 2007 June 30, 2008 AIM Global Equity Fund July 1, 2007 June 30, 2008 AIM Mid Cap Core Equity Fund July 1, 2007 June 30, 2008 AIM Small Cap Growth Fund July 1, 2007 June 30, 2008
A-1 AIM INTERNATIONAL MUTUAL FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM Asia Pacific Growth Fund July 1, 2007 June 30, 2008 AIM European Growth Fund July 1, 2007 June 30, 2008 AIM Global Aggressive Growth Fund July 1, 2007 June 30, 2008 AIM Global Growth Fund July 1, 2007 June 30, 2008 AIM International Core Equity Fund July 1, 2007 June 30, 2008 AIM International Growth Fund July 1, 2007 June 30, 2008
AIM INVESTMENT FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM China Fund July 1, 2007 June 30, 2008 AIM Developing Markets Fund July 1, 2007 June 30, 2008 AIM Global Health Care Fund July 1, 2007 June 30, 2008 AIM International Total Return Fund July 1, 2007 June 30, 2008 AIM LIBOR Alpha Fund July 1, 2007 June 30, 2008 AIM Japan Fund July 1, 2007 June 30, 2008 AIM Trimark Endeavor Fund July 1, 2007 June 30, 2008 AIM Trimark Fund July 1, 2007 June 30, 2008 AIM Trimark Small Companies Fund July 1, 2007 June 30, 2008
AIM INVESTMENT SECURITIES FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM Global Real Estate Fund July 1, 2007 June 30, 2008 AIM High Yield Fund July 1, 2007 June 30, 2008 AIM Income Fund July 1, 2007 June 30, 2008 AIM Intermediate Government Fund July 1, 2007 June 30, 2008 AIM Limited Maturity Treasury Fund July 1, 2007 June 30, 2008 AIM Money Market Fund July 1, 2007 June 30, 2008 AIM Municipal Bond Fund July 1, 2007 June 30, 2008 AIM Real Estate Fund July 1, 2007 June 30, 2008 AIM Short Term Bond Fund July 1, 2007 June 30, 2008 AIM Total Return Bond Fund July 1, 2007 June 30, 2008
AIM SECTOR FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM Energy Fund July 1, 2007 June 30, 2008 AIM Financial Services Fund July 1, 2007 June 30, 2008 AIM Gold & Precious Metals Fund July 1, 2007 June 30, 2008 AIM Leisure Fund July 1, 2007 June 30, 2008 AIM Technology Fund July 1, 2007 June 30, 2008 AIM Utilities Fund July 1, 2007 June 30, 2008
A-2 AIM STOCK FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM Dynamics Fund July 1, 2007 June 30, 2008 AIM S&P 500 Index Fund July 1, 2007 June 30, 2008
AIM SUMMIT FUND
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM Summit Fund July 1, 2007 June 30, 2008
AIM TAX-EXEMPT FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM High Income Municipal Fund July 1, 2007 June 30, 2008 AIM Tax-Exempt Cash Fund July 1, 2007 June 30, 2008 AIM Tax-Free Intermediate Fund July 1, 2007 June 30, 2008
AIM VARIABLE INSURANCE FUNDS
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- AIM V.I. Basic Balanced Fund July 1, 2007 April 30, 2009 AIM V.I. Basic Value Fund July 1, 2007 April 30, 2009 AIM V.I. Capital Appreciation Fund July 1, 2007 April 30, 2009 AIM V.I. Capital Development Fund July 1, 2007 April 30, 2009 AIM V.I. Core Equity Fund July 1, 2007 April 30, 2009 AIM V.I. Diversified Income Fund July 1, 2007 April 30, 2009 AIM V.I. Dynamics Fund July 1, 2007 April 30, 2009 AIM V.I. Financial Services Fund July 1, 2007 April 30, 2009 AIM V.I. Global Health Care Fund July 1, 2007 April 30, 2009 AIM V.I. Global Real Estate Fund July 1, 2007 April 30, 2009 AIM V.I. Government Securities Fund July 1, 2007 April 30, 2009 AIM V.I. High Yield Fund July 1, 2007 April 30, 2009 AIM V.I. International Growth Fund July 1, 2007 April 30, 2009 AIM V.I. Large Cap Growth Fund July 1, 2007 April 30, 2009 AIM V.I. Leisure Fund July 1, 2007 April 30, 2009 AIM V.I. Mid Cap Core Equity Fund July 1, 2007 April 30, 2009 AIM V.I. Money Market Fund July 1, 2007 April 30, 2009 AIM V.I. Small Cap Equity Fund July 1, 2007 April 30, 2009 AIM V.I. Technology Fund July 1, 2007 April 30, 2009 AIM V.I. Utilities Fund July 1, 2007 April 30, 2009
A-3 SHORT-TERM INVESTMENTS TRUST
FUND EFFECTIVE DATE COMMITTED UNTIL ---- -------------- --------------- Government TaxAdvantage Portfolio July 1, 2007 June 30, 2008 STIC Prime Portfolio July 1, 2007 June 30, 2008 Treasury Portfolio July 1, 2007 June 30, 2008
A-4