EX-99.H124.B 22 h66492bexv99wh124wb.txt EX-99.H124.B MEMORANDUM OF AGREEMENT (EXPENSE LIMITATIONS) This Memorandum of Agreement is entered into as of the Effective Date on the attached exhibits (the "Exhibits"), between AIM Counselor Series Trust, AIM Equity Funds, AIM Growth Series, AIM Investment Funds, AIM Investment Securities Funds, AIM Sector Funds, AIM Tax-Exempt Funds, AIM Variable Insurance Funds and Short-Term Investments Trust (each a "Trust" or, collectively, the "Trusts"), on behalf of the funds listed on the Exhibits to this Memorandum of Agreement (the "Funds"), and Invesco Aim Advisors, Inc. ("Invesco Aim"). Invesco Aim shall and hereby agrees to waive fees or reimburse expenses of each Fund, on behalf of its respective classes as applicable, severally and not jointly, as indicated in the attached Exhibits. 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 Invesco Aim agree as follows: For the Contractual Limits (listed in Exhibits A - D), the Trusts and Invesco Aim agree until at least the expiration date set forth on the attached Exhibits A - D (the "Expiration Date") that Invesco Aim will waive its fees or reimburse expenses to the extent that expenses of a class of a Fund (excluding (i) interest; (ii) taxes; (iii) dividend expense on short sales; (iv) extraordinary items; (v) expenses related to a merger or reorganization, as approved by the Funds' Boards of Trustees; (vi) expenses of the underlying funds that are paid indirectly as a result of share ownership of the underlying funds; and (vii) expenses that each Fund has incurred but did not actually pay because of an expense offset arrangement, if applicable) exceed the rate, on an annualized basis, set forth on the Exhibits of the average daily net assets allocable to such class. Acquired fund fees and expenses are not fees or expenses incurred by a fund directly but are expenses of the investment companies in which a fund invests. These fees and expenses are incurred indirectly through the valuation of a fund's investment in these investment companies. Acquired fund fees and expenses are required to be disclosed and included in the total annual fund operating expenses in the prospectus fee table. As a result, the net total annual fund operating expenses shown in the prospectus fee table may exceed the expense limits reflected in Exhibits A-D. With regard to the Contractual Limits, the Board of Trustees of the Trust and Invesco Aim may terminate or modify this Memorandum of Agreement prior to the Expiration Date only by mutual written consent. Invesco Aim will not have any right to reimbursement of any amount so waived or reimbursed. For the Contractual Limits, each of the Trusts and Invesco Aim agree to review the then-current expense limitations for each class of each Fund listed on the Exhibits on a date prior to the Expiration Date to determine whether such limitations should be amended, continued or terminated. The expense limitations will expire upon the Expiration Date unless the Trusts and Invesco Aim have agreed to continue them. The Exhibits will be amended to reflect any such agreement. For the Voluntary Limits (listed in Exhibits A - D), the Trusts and Invesco Aim agree that these are not contractual in nature and that Invesco Aim may establish, amend and/or terminate such expense limitations at any time in its sole discretion after consultation with the Funds' Boards of Trustees. Any delay or failure by Invesco Aim to update this Memorandum of Agreement with regards to the terminations, extensions, or expirations of the Voluntary Limits shall have no effect on the term of such Voluntary Limitations; the Voluntary Limitations are listed herein for informational purposes only. It is expressly agreed that the obligations of each Trust 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 each Fund, 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 the Trusts, and this Memorandum of Agreement has been executed and delivered by an authorized officer of the Trusts 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, each of the Trusts and Invesco Aim have entered into this Memorandum of Agreement as of the Effective Dates on the attached Exhibits. AIM COUNSELOR SERIES TRUST AIM EQUITY FUNDS AIM GROWTH SERIES AIM INVESTMENT FUNDS AIM INVESTMENT SECURITIES FUNDS AIM SECTOR FUNDS AIM TAX-EXEMPT FUNDS AIM VARIABLE INSURANCE FUNDS on behalf of the Funds listed in the Exhibits to this Memorandum of Agreement By: /s/ John M. Zerr ------------------------------------ Title: Senior Vice President SHORT-TERM INVESTMENTS TRUST on behalf of the Funds listed in the Exhibits to this Memorandum of Agreement By: /s/ John M. Zerr ------------------------------------ Title: Senior Vice President Invesco Aim Advisors, Inc. By: /s/ John M. Zerr ------------------------------------ Title: Senior Vice President 2 as of March 04, 2009 EXHIBIT "A" - RETAIL FUNDS(1) FUNDS WITH FISCAL YEAR END OF MARCH 31 AIM SECTOR FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ------------------------------- ------------ ---------- ----------------- ------------- AIM Technology Fund Class A Shares Contractual 1.55% July 1, 2005 June 30, 2009 Class B Shares Contractual 2.30% July 1, 2005 June 30, 2009 Class C Shares Contractual 2.30% July 1, 2005 June 30, 2009 Class Y Shares Contractual 1.30% October 3, 2008 June 30, 2009 Investor Class Shares Contractual 1.55% July 1, 2005 June 30, 2009 Institutional Class Shares Contractual 1.30% July 1, 2005 June 30, 2009
AIM TAX-EXEMPT FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ------------------------------- ------------ ---------- ----------------- ------------- AIM High Income Municipal Fund Class A Shares Voluntary 0.80% March 4, 2009 N/A(2) Class B Shares Voluntary 1.55% March 4, 2009 N/A(2) Class C Shares Voluntary 1.55% March 4, 2009 N/A(2) Class Y Shares Voluntary 0.55% March 4, 2009 N/A(2) Institutional Class Shares Voluntary 0.55% March 4, 2009 N/A(2)
FUNDS WITH FISCAL YEAR END OF JULY 31 AIM INVESTMENT SECURITIES FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ------------------------------- ------------ ---------- ----------------- ------------- AIM Core Bond Fund Class A Shares Contractual 0.80% March 4, 2009 June 30, 2010 Class B Shares Contractual 1.55% March 4, 2009 June 30, 2010 Class C Shares Contractual 1.55% March 4, 2009 June 30, 2010 Class R Shares Contractual 1.05% March 4, 2009 June 30, 2010 Class Y Shares Contractual 0.55% March 4, 2009 June 30, 2010 Institutional Class Shares Contractual 0.55% March 4, 2009 June 30, 2010 AIM High Yield Fund Class A Shares Contractual 0.99% March 4, 2009 June 30, 2010 Class B Shares Contractual 1.74% March 4, 2009 June 30, 2010 Class C Shares Contractual 1.74% March 4, 2009 June 30, 2010 Class Y Shares Contractual 0.74% March 4, 2009 June 30, 2010 Investor Class Shares Contractual 0.99% March 4, 2009 June 30, 2010 Institutional Class Shares Contractual 0.74% March 4, 2009 June 30, 2010 AIM Municipal Bond Fund Class A Shares Contractual 0.57% March 4, 2009 June 30, 2010 Class B Shares Contractual 1.32% March 4, 2009 June 30, 2010 Class C Shares Contractual 1.32% March 4, 2009 June 30, 2010 Class Y Shares Contractual 0.32% March 4, 2009 June 30, 2010 Investor Class Shares Contractual 0.57% March 4, 2009 June 30, 2010 AIM Short Term Bond Fund Class A Shares Contractual 0.66% March 4, 2009 June 30, 2010 Class C Shares Contractual 1.41%(3) March 4, 2009 June 30, 2010 Class R Shares Contractual 0.91% March 4, 2009 June 30, 2010 Class Y Shares Contractual 0.41% March 4, 2009 June 30, 2010 Institutional Class Shares Contractual 0.41% March 4, 2009 June 30, 2010
See page 5 for footnotes to Exhibit A. 3 as of March 04, 2009 FUNDS WITH FISCAL YEAR END OF AUGUST 31 AIM COUNSELOR SERIES TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ------------------------------- ------------ ---------- ----------------- ------------- AIM Floating Rate Fund Class A Shares Contractual 1.50% April 14, 2006 June 30, 2009 Class C Shares Contractual 2.00% April 14, 2006 June 30, 2009 Class R Shares Contractual 1.75% April 14, 2006 June 30, 2009 Class Y Shares Contractual 1.25% October 3, 2008 June 30, 2009 Institutional Class Shares Contractual 1.25% April 14, 2006 June 30, 2009 AIM Structured Core Fund Class A Shares Contractual 0.60% April 28, 2008 June 30, 2009 Class B Shares Contractual 1.35% April 28, 2008 June 30, 2009 Class C Shares Contractual 1.35% April 28, 2008 June 30, 2009 Class R Shares Contractual 0.85% April 28, 2008 June 30, 2009 Class Y Shares Contractual 0.35% October 3, 2008 June 30, 2009 Investor Class Shares Contractual 0.60 April 28, 2008 June 30, 2009 Institutional Class Shares Contractual 0.35% April 28, 2008 June 30, 2009 AIM Structured Growth Fund Class A Shares Contractual 1.00% March 31, 2006 June 30, 2009 Class B Shares Contractual 1.75% March 31, 2006 June 30, 2009 Class C Shares Contractual 1.75% March 31, 2006 June 30, 2009 Class R Shares Contractual 1.25% March 31, 2006 June 30, 2009 Class Y Shares Contractual 0.75% October 3, 2008 June 30, 2009 Institutional Class Shares Contractual 0.75% March 31, 2006 June 30, 2009 AIM Structured Value Fund Class A Shares Contractual 1.00% March 31, 2006 June 30, 2009 Class B Shares Contractual 1.75% March 31, 2006 June 30, 2009 Class C Shares Contractual 1.75% March 31, 2006 June 30, 2009 Class R Shares Contractual 1.25% March 31, 2006 June 30, 2009 Class Y Shares Contractual 0.75% October 3, 2008 June 30, 2009 Institutional Class Shares Contractual 0.75% March 31, 2006 June 30, 2009
FUNDS WITH FISCAL YEAR END OF OCTOBER 31 AIM EQUITY FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ------------------------------- ------------ ---------- ----------------- ------------- AIM Large Cap Basic Value Fund Class A Shares Contractual 1.22% July 1, 2005 June 30, 2009 Class B Shares Contractual 1.97% July 1, 2005 June 30, 2009 Class C Shares Contractual 1.97% July 1, 2005 June 30, 2009 Class R Shares Contractual 1.47% July 1, 2005 June 30, 2009 Class Y Shares Contractual 0.97% October 3, 2008 June 30, 2009 Investor Class Shares Contractual 1.22% July 1, 2005 June 30, 2009 Institutional Class Shares Contractual 0.97% July 1, 2005 June 30, 2009 AIM Large Cap Growth Fund Class A Shares Contractual 1.32% July 1, 2005 June 30, 2009 Class B Shares Contractual 2.07% July 1, 2005 June 30, 2009 Class C Shares Contractual 2.07% July 1, 2005 June 30, 2009 Class R Shares Contractual 1.57% July 1, 2005 June 30, 2009 Class Y Shares Contractual 1.07% October 3, 2008 June 30, 2009 Investor Class Shares Contractual 1.32% July 1, 2005 June 30, 2009 Institutional Class Shares Contractual 1.07% July 1, 2005 June 30, 2009
See page 5 for footnotes to Exhibit A. 4 as of March 04, 2009 AIM INVESTMENT FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ------------------------------- ------------ ---------- ----------------- ------------- AIM China Fund Class A Shares Contractual 2.05% March 31, 2006 June 30, 2009 Class B Shares Contractual 2.80% March 31, 2006 June 30, 2009 Class C Shares Contractual 2.80% March 31, 2006 June 30, 2009 Class Y Shares Contractual 1.80% October 3, 2008 June 30, 2009 Institutional Class Shares Contractual 1.80% March 31, 2006 June 30, 2009 AIM Developing Markets Fund Class A Shares Contractual 1.75% July 1, 2005 June 30, 2009 Class B Shares Contractual 2.50% July 1, 2002 June 30, 2009 Class C Shares Contractual 2.50% July 1, 2002 June 30, 2009 Class Y Shares Contractual 1.50% October 3, 2008 June 30, 2009 Institutional Class Shares Contractual 1.50% October 25, 2005 June 30, 2009 AIM International Total Return Fund Class A Shares Class B Shares Contractual 1.10% March 31, 2006 June 30, 2009 Class C Shares Contractual 1.85% March 31, 2006 June 30, 2009 Class Y Shares Contractual 1.85% March 31, 2006 June 30, 2009 Institutional Class Shares Contractual 0.85% October 3, 2008 June 30, 2009 Contractual 0.85% March 31, 2006 June 30, 2009 AIM Japan Fund Class A Shares Contractual 1.70% March 31, 2006 June 30, 2009 Class B Shares Contractual 2.45% March 31, 2006 June 30, 2009 Class C Shares Contractual 2.45% March 31, 2006 June 30, 2009 Class Y Shares Contractual 1.45% October 3, 2008 June 30, 2009 Institutional Class Shares Contractual 1.45% March 31, 2006 June 30, 2009 AIM LIBOR Alpha Fund Class A Shares Contractual 0.85% March 31, 2006 June 30, 2009 Class C Shares Contractual 1.10%(3) March 31, 2006 June 30, 2009 Class R Shares Contractual 1.10% March 31, 2006 June 30, 2009 Class Y Shares Contractual 0.60% October 3, 2008 June 30, 2009 Institutional Class Shares Contractual 0.60% March 31, 2006 June 30, 2009 AIM Trimark Fund Class A Shares Contractual 2.15% July 1, 2005 June 30, 2009 Class B Shares Contractual 2.90% November 1, 2004 June 30, 2009 Class C Shares Contractual 2.90% November 1, 2004 June 30, 2009 Class R Shares Contractual 2.40% November 1, 2004 June 30, 2009 Class Y Shares Contractual 1.90% October 3, 2008 June 30, 2009 Institutional Class Shares Contractual 1.90% November 1, 2004 June 30, 2009
(1) The total operating expenses of any class of shares established after the date of this Memorandum of Agreement will be limited to the amount established for Class A Shares plus the difference between the new class 12b-1 rate and the Class A 12b-1 rate. (2) AIM may establish, amend or terminate voluntary waivers at any time in its sole discretion after consultation with the Trust. (3) The expense limit shown is the expense limit after Rule 12b-1 fee waivers by Invesco Aim Distributors, Inc. 5 as of March 04, 2009 EXHIBIT "B" - ASSET ALLOCATION FUNDS(1) AIM GROWTH SERIES
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE -------------------------------- ------------ -------------------------- ----------------- ------------- AIM Conservative Allocation Fund Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.23% of average daily net assets Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.23% of average daily net assets Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.23% of average daily net assets Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.23% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.23% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.23% of average daily net assets AIM Growth Allocation Fund Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.21% of average daily net assets Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.21% of average daily net assets Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.21% of average daily net assets Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.21% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.21% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.21% of average daily net assets AIM Income Allocation Fund Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.03% of average daily net assets Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.03% of average daily net assets Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.03% of average daily net assets Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.03% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.03% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.03% of average daily net assets
See page 10 for footnotes to Exhibit B. 6 as of March 04, 2009
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE -------------------------------- ------------ -------------------------- ----------------- ------------- AIM Independence Now Fund Class A Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.02% of average daily net assets Class B Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.02% of average daily net assets Class C Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.02% of average daily net assets Class R Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.02% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.02% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.02% of average daily net assets AIM Independence 2010 Fund Class A Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.04% of average daily net assets Class B Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.04% of average daily net assets Class C Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.04% of average daily net assets Class R Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.04% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.04% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.04% of average daily net assets AIM Independence 2020 Fund Class A Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.07% of average daily net assets Class B Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.07% of average daily net assets Class C Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.07% of average daily net assets Class R Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.07% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.07% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.07% of average daily net assets
See page 10 for footnotes to Exhibit B. 7 as of March 04, 2009
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE -------------------------------- ------------ -------------------------- ----------------- ------------- AIM Independence 2030 Fund Class A Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.10% of average daily net assets Class B Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.10% of average daily net assets Class C Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.10% of average daily net assets Class R Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.10% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.10% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.10% of average daily net assets AIM Independence 2040 Fund Class A Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.09% of average daily net assets Class B Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.09% of average daily net assets Class C Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.09% of average daily net assets Class R Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.09% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.09% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.09% of average daily net assets AIM Independence 2050 Fund Class A Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.08% of average daily net assets Class B Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.08% of average daily net assets Class C Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.08% of average daily net assets Class R Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.08% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.08% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to May 1, 2008 June 30, 2009 0.08% of average daily net assets
See page 10 for footnotes to Exhibit B. 8 as of March 04, 2009
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE -------------------------------- ------------ -------------------------- ----------------- ------------- AIM International Allocation Fund Class A Shares Contractual Limit Other Expenses to October 31, 2005 June 30, 2009 0.18% of average daily net assets Class B Shares Contractual Limit Other Expenses to October 31, 2005 June 30, 2009 0.18% of average daily net assets Class C Shares Contractual Limit Other Expenses to October 31, 2005 June 30, 2009 0.18% of average daily net assets Class R Shares Contractual Limit Other Expenses to October 31, 2005 June 30, 2009 0.18% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.18% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to October 31, 2005 June 30, 2009 0.18% of average daily net assets AIM Moderate Allocation Fund Class A Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.12% of average daily net assets Class B Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.12% of average daily net assets Class C Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.12% of average daily net assets Class R Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.12% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.12% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to January 1, 2006 June 30, 2009 0.12% of average daily net assets AIM Moderate Growth Allocation Fund Class A Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.12% of average daily net assets Class B Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.12% of average daily net assets Class C Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.12% of average daily net assets Class R Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.12% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.12% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.12% of average daily net assets
See page 10 for footnotes to Exhibit B. 9 as of March 04, 2009
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION(2) CURRENT LIMIT DATE -------------------------------- ------------ -------------------------- ----------------- ------------- AIM Moderately Conservative Allocation Fund Class A Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.14% of average daily net assets Class B Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.14% of average daily net assets Class C Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.14% of average daily net assets Class R Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.14% of average daily net assets Class Y Shares Contractual Limit Other Expenses to October 3, 2008 June 30, 2009 0.14% of average daily net assets Institutional Class Shares Contractual Limit Other Expenses to April 29, 2005 June 30, 2009 0.14% of average daily net assets
(1) Other Expenses of any class of shares established after the date of this Memorandum of Agreement will be limited to the same amount established for Class A shares. (2) Other Expenses are defined as all normal operating expenses of the fund, excluding management fees and 12b-1 expenses, if any. The expense limitation is subject to the exclusions as listed in the Memorandum of Agreement. 10 as of March 04, 2009 EXHIBIT "C" - INSTITUTIONAL MONEY MARKET FUNDS(1, 2) FUNDS WITH FISCAL YEAR END OF AUGUST 31 SHORT-TERM INVESTMENTS TRUST
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ------------------------------- ------------ ---------- ----------------- ------------- Government & Agency Portfolio Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009 Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009 Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009 Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009 Resource Class Contractual 0.12% June 30, 2005 June 30, 2009 Government TaxAdvantage Portfolio Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009 Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009 Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009 Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009 Resource Class Contractual 0.12% June 30, 2005 June 30, 2009 Liquid Assets Portfolio Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009 Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009 Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009 Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009 Resource Class Contractual 0.12% June 30, 2005 June 30, 2009 STIC Prime Portfolio Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009 Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009 Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009 Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009 Resource Class Contractual 0.12% June 30, 2005 June 30, 2009 Tax-Free Cash Reserve Portfolio(3) Cash Management Class Contractual 0.22% April 30, 2008 June 30, 2009 Corporate Class Contractual 0.22% April 30, 2008 June 30, 2009 Institutional Class Contractual 0.22% April 30, 2008 June 30, 2009 Personal Investment Class Contractual 0.22% April 30, 2008 June 30, 2009 Private Investment Class Contractual 0.22% April 30, 2008 June 30, 2009 Reserve Class Contractual 0.22% April 30, 2008 June 30, 2009 Resource Class Contractual 0.22% April 30, 2008 June 30, 2009
See page 12 for footnotes to Exhibit C. 11 as of March 04, 2009
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ------------------------------- ------------ ---------- ----------------- ------------- Treasury Portfolio Contractual 0.12% June 30, 2005 June 30, 2009 Cash Management Class Contractual 0.12% June 30, 2005 June 30, 2009 Corporate Class Contractual 0.12% June 30, 2005 June 30, 2009 Institutional Class Contractual 0.12% June 30, 2005 June 30, 2009 Personal Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Private Investment Class Contractual 0.12% June 30, 2005 June 30, 2009 Reserve Class Contractual 0.12% June 30, 2005 June 30, 2009 Resource Class
(1) The expense limit shown excludes Rule 12b-1 fees. (2) The expense rate excluding 12b-1 fees of any class of shares established after the date of this Memorandum of Agreement will be the same as existing classes. (3) The expense limitation also excludes Trustees' fees and federal registration expenses. 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. 12 as of March 04, 2009 EXHIBIT "D" - VARIABLE INSURANCE FUNDS AIM VARIABLE INSURANCE FUNDS
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ----------------------------------- ------------ ---------- ------------------ -------------- AIM V.I. Basic Balanced Fund Series I Shares Contractual 0.91% July 1, 2005 April 30, 2010 Series II Shares Contractual 1.16% July 1, 2005 April 30, 2010 AIM V.I. Basic Value Fund Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010 Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010 AIM V.I. Capital Appreciation Fund Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010 Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010 AIM V.I. Capital Development Fund Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010 Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010 AIM V.I. Core Equity Fund Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010 Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010 AIM V.I. Diversified Income Fund Series I Shares Contractual 0.75% July 1, 2005 April 30, 2010 Series II Shares Contractual 1.00% July 1, 2005 April 30, 2010 AIM V.I. Dynamics Fund Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010 Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010 AIM V.I. Financial Services Fund Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010 Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010 AIM V.I. Global Health Care Fund Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010 Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010 AIM V.I. Global Real Estate Fund Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010 Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010 AIM V.I. Government Securities Fund Series I Shares Contractual 0.73% July 1, 2005 April 30, 2010 Series II Shares Contractual 0.98% July 1, 2005 April 30, 2010
13 as of March 04, 2009
CONTRACTUAL/ EXPENSE EFFECTIVE DATE OF EXPIRATION FUND VOLUNTARY LIMITATION CURRENT LIMIT DATE ----------------------------------- ------------ ---------- ------------------ -------------- AIM V.I. High Yield Fund Series II Shares Contractual 0.95% July 1, 2005 April 30, 2010 Series II Shares Contractual 1.20% April 30, 2004 April 30, 2010 AIM V.I. International Growth Fund Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010 Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010 AIM V.I. Large Cap Growth Fund Series I Shares Contractual 1.01% July 1, 2005 April 30, 2010 Series II Shares Contractual 1.26% July 1, 2005 April 30, 2010 AIM V.I. Leisure Fund Series I Shares Contractual 1.01% April 30, 2004 April 30, 2010 Series II Shares Contractual 1.26% April 30, 2004 April 30, 2010 AIM V.I. Mid Cap Core Equity Fund Series I Shares Contractual 1.30% September 10, 2001 April 30, 2010 Series II Shares Contractual 1.45% September 10, 2001 April 30, 2010 AIM V.I. Money Market Fund Series I Shares Contractual 1.30% January 1, 2005 April 30, 2010 Series II Shares Contractual 1.45% January 1, 2005 April 30, 2010 AIM V.I. PowerShares ETF Allocation Fund Series I Shares Contractual 0.18% October 22, 2008 April 30, 2010 Series II Shares Contractual 0.43% October 22, 2008 April 30, 2010 AIM V.I. Small Cap Equity Fund Series I Shares Contractual 1.15% July 1, 2005 April 30, 2010 Series II Shares Contractual 1.40% July 1, 2005 April 30, 2010 AIM V.I. Technology Fund Series I Shares Contractual 1.30% April 30, 2004 April 30, 2010 Series II Shares Contractual 1.45% April 30, 2004 April 30, 2010 AIM V.I. Utilities Fund Series I Shares Contractual 0.93% September 23, 2005 April 30, 2010 Series II Shares Contractual 1.18% September 23, 2005 April 30, 2010
14