<SEC-DOCUMENT>0001193125-14-166213.txt : 20140429
<SEC-HEADER>0001193125-14-166213.hdr.sgml : 20140429
<ACCEPTANCE-DATETIME>20140429130300
ACCESSION NUMBER:		0001193125-14-166213
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140228
FILED AS OF DATE:		20140429
DATE AS OF CHANGE:		20140429
EFFECTIVENESS DATE:		20140429

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Invesco Municipal Income Opportunities Trust
		CENTRAL INDEX KEY:			0000835333
		IRS NUMBER:				133473972
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0530

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05597
		FILM NUMBER:		14792746

	BUSINESS ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30309
		BUSINESS PHONE:		404-439-3217

	MAIL ADDRESS:	
		STREET 1:		1555 PEACHTREE STREET, N.E.
		STREET 2:		SUITE 1800
		CITY:			ATLANTA
		STATE:			2Q
		ZIP:			30309

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MORGAN STANLEY MUNICIPAL INCOME OPPORTUNITIES TRUST
		DATE OF NAME CHANGE:	20011220

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MSDW MUNICIPAL INCOME OPPORTUNITIES TRUST
		DATE OF NAME CHANGE:	19981221

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNICIPAL INCOME OPPORTUNITIES TRUST/MA
		DATE OF NAME CHANGE:	19930721
</SEC-HEADER>
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<DESCRIPTION>NSAR-B
<TEXT>
      PAGE  1
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      PAGE  2
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008 B000007 S
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008 D010007 NEW YORK
008 D020007 NY
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      PAGE  3
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      PAGE  5
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      PAGE  6
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      PAGE  9
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SIGNATURE   KELLI GALLEGOS
TITLE       ASSISTANT VP AND ASSISTANT TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B
<SEQUENCE>2
<FILENAME>d707548dex9977b.txt
<DESCRIPTION>EX-99.77B
<TEXT>
<PAGE>

            REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Trustees and Shareholders of Invesco Municipal Income
Opportunities Trust:

In planning and performing our audits of the financial statements of Invesco
Municipal Income Opportunities Trust (hereafter referred to as the "Trust") as
of and for the year ended February 28, 2014, in accordance with the standards
of the Public Company Accounting Oversight Board (United States), we considered
the Trust's internal control over financial reporting, including controls over
safeguarding securities, as a basis for designing our auditing procedures for
the purpose of expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, but not for the purpose of expressing an
opinion on the effectiveness of the Trust's internal control over financial
reporting. Accordingly, we do not express an opinion on the effectiveness of
the Trust's internal control over financial reporting.

The management of the Trust is responsible for establishing and maintaining
effective internal control over financial reporting. In fulfilling this
responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A trust's internal control
over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally
accepted accounting principles. A trust's internal control over financial
reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the trust;
(2) provide reasonable assurance that transactions are recorded as necessary to
permit preparation of financial statements in accordance with generally
accepted accounting principles, and that receipts and expenditures of the trust
are being made only in accordance with authorizations of management and
trustees of the trust; and (3) provide reasonable assurance regarding
prevention or timely detection of unauthorized acquisition, use or disposition
of a trust's assets that could have a material effect on the financial
statements.

Because of its inherent limitations, internal control over financial reporting
may not prevent or detect misstatements. Also, projections of any evaluation of
effectiveness to future periods are subject to the risk that controls may
become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the
design or operation of a control does not allow management or employees, in the
normal course of performing their assigned functions, to prevent or detect
misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting, such
that there is a reasonable possibility that a material misstatement of the
Trust's annual or interim financial statements will not be prevented or
detected on a timely basis.

Our consideration of the Trust's internal control over financial reporting was
for the limited purpose described in the first paragraph and would not
necessarily disclose all deficiencies in internal control over financial
reporting that might be material weaknesses under standards established by the
Public Company Accounting Oversight Board (United States). However, we noted no
deficiencies in the Trust's internal control over financial reporting and its
operation, including controls over safeguarding securities that we consider to
be material weaknesses as defined above as of February 28, 2014.

This report is intended solely for the information and use of management and
the Board of Trustees of the Trust and the Securities and Exchange Commission
and is not intended to be and should not be used by anyone other than these
specified parties.


/s/ PricewaterhouseCoopers LLP
Houston, TX
April 28, 2014
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1E
<SEQUENCE>3
<FILENAME>d707548dex9977q1e.txt
<DESCRIPTION>EX-99.77Q1E
<TEXT>
<PAGE>

                                                               SUB-ITEM 77Q1(e)

                            MEMORANDUM OF AGREEMENT
                            (ADVISORY FEE WAIVERS)

   This Memorandum of Agreement is entered into as of the effective date on the
attached Exhibit A and B (each an "Exhibit" or, collectively the "Exhibits"),
between AIM Counselor Series Trust (Invesco Counselor Series Trust), AIM Equity
Funds (Invesco Equity Funds), AIM Funds Group (Invesco Funds Group), AIM Growth
Series (Invesco Growth Series), AIM International Mutual Funds (Invesco
International Mutual Funds), AIM Investment Funds (Invesco Investment Funds),
AIM Investment Securities Funds (Invesco Investment Securities Funds), AIM
Sector Funds (Invesco Sector Funds), AIM Tax-Exempt Funds (Invesco Tax-Exempt
Funds), AIM Treasurer's Series Trust (Invesco Treasurer's Series Trust), AIM
Variable Insurance Funds (Invesco Variable Insurance Funds), Invesco Municipal
Income Opportunities Trust, Invesco Securities Trust, Invesco, Invesco Quality
Municipal Income Trust and Invesco Value Municipal Income 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 Advisers, Inc.
("Invesco"). Invesco shall and hereby agrees to waive fees of the Funds, on
behalf of their respective classes as applicable, severally and not jointly, as
indicated in the 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, Invesco agrees that until at least the expiration date
set forth on Exhibit A (the "Expiration Date") and with respect to those Funds
listed on the Exhibit, Invesco will waive its advisory fees at the rate set
forth on the Exhibit.

   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 agree as follows:

    1. Invesco agrees that until the expiration date, if any, of the commitment
       set forth on the attached Exhibit B occurs, as such Exhibit B is amended
       from time to time, Invesco will waive advisory fees payable by an
       Investing Fund (defined below) in an amount equal to 100% of the net
       advisory fee Invesco receives on the Uninvested Cash (defined below)
       from the Affiliated Money Market Fund (defined below) in which the
       Investing Fund invests (the "Waiver").

       i.   Invesco'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 Trust that
            holds itself out as a money market fund and complies with Rule 2a-7
            under the Investment Company Act of 1940, as amended;

       (b)  "Investing Fund" - any Fund investing Cash Balances and/or Cash
            Collateral in an Affiliated Money Market Fund; and

       (c)  "Uninvested Cash" - cash available and uninvested by a Trust 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 Trust nor Invesco may remove or amend the Waiver to a Trust's
       detriment prior to the Expiration Date without requesting and receiving
       the approval of the Board of Trustee of the applicable Fund's Trust to
       remove or amend such Waiver. Invesco will not have any right to
       reimbursement of any amount so waived.

<PAGE>

   The Boards of Trustees and Invesco may terminate or modify this Memorandum
of Agreement prior to the Expiration Date only by mutual written consent.
Invesco will not have any right to reimbursement of any amount so waived or
reimbursed.

   Subject to the foregoing paragraphs, Invesco agrees to review the
then-current waivers for each class of the Funds listed on the Exhibits 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 Invesco has agreed to continue them. The Exhibits will be amended
to reflect any such agreement.

   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, each of the Trusts, on behalf of itself and its Funds
listed in Exhibit A and B to this Memorandum of Agreement, and Invesco have
entered into this Memorandum of Agreement as of the Effective Date on the
attached Exhibits.

       AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
       AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
       AIM FUNDS GROUP (INVESCO FUNDS GROUP)
       AIM GROWTH SERIES (INVESCO GROWTH SERIES)
       AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
       AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
       AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
       AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
       AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
       AIM TREASURER'S SERIES TRUST (INVESCO TREASURER'S SERIES TRUST)
       AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
       INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST
       INVESCO QUALITY MUNICIPAL INCOME TRUST
       INVESCO SECURITIES TRUST
       INVESCO VALUE MUNICIPAL INCOME TRUST
       on behalf of the Funds listed in the Exhibit
       to this Memorandum of Agreement

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

       INVESCO ADVISERS, INC.

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

<PAGE>

                         EXHIBIT A TO ADVISORY FEE MOA

<TABLE>
<CAPTION>
AIM INVESTMENT
FUNDS (INVESCO                                                                         EXPIRATION
INVESTMENT FUNDS               WAIVER DESCRIPTION               EFFECTIVE DATE            DATE
----------------     ---------------------------------------  -------------------  -------------------
<S>                  <C>                                      <C>                  <C>
Invesco Global       Invesco will waive advisory fees in an       12/17/2013           12/31/2015
Targeted Returns     amount equal to the advisory fees
Fund                 earned on underlying affiliated
                     investments
</TABLE>

<TABLE>
<CAPTION>
AIM TREASURER'S
SERIES TRUST
(INVESCO TREASURER'S                                                                   EXPIRATION
SERIES TRUST)                  WAIVER DESCRIPTION               EFFECTIVE DATE            DATE
-------------------- ---------------------------------------  -------------------  -------------------
<S>                  <C>                                      <C>                  <C>
Premier Portfolio    Invesco will waive advisory fees in the       2/1/2011            12/31/2014
                     amount of 0.07% of the Fund's average
                     daily net assets

Premier U.S.         Invesco will waive advisory fees in the       2/1/2011            12/31/2014
Government Money     amount of 0.07% of the Fund's average
Portfolio            daily net assets
</TABLE>

<PAGE>

                                  EXHIBIT "B"

          AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
          -----------------------------------------------------------

<TABLE>
<CAPTION>
PORTFOLIO                                                      EFFECTIVE DATE       COMMITTED UNTIL
---------                                                    -------------------  -------------------
<S>                                                          <C>                  <C>
Invesco American Franchise Fund                               February 12, 2010    December 31, 2014
Invesco California Tax-Free Income Fund                       February 12, 2010    December 31, 2014
Invesco Core Plus Bond Fund                                     June 2, 2009       December 31, 2014
Invesco Equally-Weighted S&P 500 Fund                         February 12, 2010    December 31, 2014
Invesco Equity and Income Fund                                February 12, 2010    December 31, 2014
Invesco Floating Rate Fund                                      July 1, 2007       December 31, 2014
Invesco Global Real Estate Income Fund                          July 1, 2007       December 31, 2014
Invesco Growth and Income Fund                                February 12, 2010    December 31, 2014
Invesco Low Volatility Equity Yield Fund                        July 1, 2007       December 31, 2014
Invesco Pennsylvania Tax Free Income Fund                     February 12, 2010    December 31, 2014
Invesco S&P 500 Index Fund                                    February 12, 2010    December 31, 2014
Invesco Small Cap Discovery Fund                              February 12, 2010    December 31, 2014
</TABLE>

                    AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
                    ---------------------------------------

<TABLE>
<CAPTION>
PORTFOLIO                                                      EFFECTIVE DATE       COMMITTED UNTIL
---------                                                    -------------------  -------------------
<S>                                                          <C>                  <C>
Invesco Charter Fund                                            July 1, 2007       February 28, 2015
Invesco Disciplined Equity Fund                                 July 14, 2009      February 28, 2015
Invesco Diversified Dividend Fund                               July 1, 2007       February 28, 2015
Invesco Summit Fund                                             July 1, 2007       February 28, 2015
</TABLE>

                     AIM FUNDS GROUP (INVESCO FUNDS GROUP)
                     -------------------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE       COMMITTED UNTIL
----                                                         -------------------  -------------------
<S>                                                          <C>                  <C>
Invesco European Small Company Fund                             July 1, 2007        April 30, 2015
Invesco Global Core Equity Fund                                 July 1, 2007        April 30, 2015
Invesco International Small Company Fund                        July 1, 2007        April 30, 2015
Invesco Small Cap Equity Fund                                   July 1, 2007        April 30, 2015
</TABLE>

                   AIM GROWTH SERIES (INVESCO GROWTH SERIES)
                   -----------------------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE       COMMITTED UNTIL
----                                                         -------------------  -------------------
<S>                                                          <C>                  <C>
Invesco Convertible Securities Fund                           February 12, 2010     April 30, 2015
Invesco Global Low Volatility Equity Yield Fund                 July 1, 2007        April 30, 2015
Invesco Mid Cap Core Equity Fund                                July 1, 2007        April 30, 2015
Invesco Small Cap Growth Fund                                   July 1, 2007        April 30, 2015
Invesco U.S. Mortgage Fund                                    February 12, 2010     April 30, 2015
</TABLE>

      AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
      -------------------------------------------------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE       COMMITTED UNTIL
----                                                         -------------------  -------------------
<S>                                                          <C>                  <C>
Invesco Asia Pacific Growth Fund                                July 1, 2007       February 28, 2015
Invesco European Growth Fund                                    July 1, 2007       February 28, 2015
Invesco Global Growth Fund                                      July 1, 2007       February 28, 2015
Invesco Global Opportunities Fund                              August 3, 2012      February 28, 2015
Invesco Global Small & Mid Cap Growth Fund                      July 1, 2007       February 28, 2015
Invesco International Core Equity Fund                          July 1, 2007       February 28, 2015
Invesco International Growth Fund                               July 1, 2007       February 28, 2015
Invesco Select Opportunities Fund                              August 3, 2012      February 28, 2015
</TABLE>

<PAGE>

                AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
                -----------------------------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE      COMMITTED UNTIL
----                                                         -------------------  -----------------
<S>                                                          <C>                  <C>
Invesco All Cap Market Neutral Fund                           December 17, 2013   December 31, 2015
Invesco Balanced-Risk Allocation Fund*                          May 29, 2009      February 28, 2015
Invesco Balanced-Risk Commodity Strategy Fund**               November 29, 2010   February 28, 2015
Invesco China Fund                                              July 1, 2007      February 28, 2015
Invesco Developing Markets Fund                                 July 1, 2007      February 28, 2015
Invesco Emerging Markets Equity Fund                            May 11, 2011      February 28, 2015
Invesco Emerging Market Local Currency Debt Fund                June 14, 2010     February 28, 2015
Invesco Endeavor Fund                                           July 1, 2007      February 28, 2015
Invesco Global Health Care Fund                                 July 1, 2007      February 28, 2015
Invesco Global Market Neutral Fund                            December 17, 2013   December 31, 2015
Invesco Global Markets Strategy Fund                         September 25, 2012   February 28, 2015
Invesco Global Targeted Returns Fund                          December 17, 2013   December 31, 2015
Invesco International Total Return Fund                         July 1, 2007      February 28, 2015
Invesco Long/Short Equity Fund                                December 17, 2013   December 31, 2015
Invesco Low Volatility Emerging Markets Fund                  December 17, 2013   December 31, 2015
Invesco Macro International Equity Fund                       December 17, 2013   December 31, 2015
Invesco Macro Long/Short Fund                                 December 17, 2013   December 31, 2015
Invesco Pacific Growth Fund                                   February 12, 2010   February 28, 2015
Invesco Premium Income Fund                                   December 13, 2011   February 28, 2015
Invesco Select Companies Fund                                   July 1, 2007      February 28, 2015
</TABLE>

     AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
     ---------------------------------------------------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE     COMMITTED UNTIL
----                                                         -------------------  ---------------
<S>                                                          <C>                  <C>
Invesco Corporate Bond Fund                                   February 12, 2010    June 30, 2014
Invesco Dynamics Fund                                           July 1, 2007       June 30, 2014
Invesco Global Real Estate Fund                                 July 1, 2007       June 30, 2014
Invesco High Yield Fund                                         July 1, 2007       June 30, 2014
Invesco Limited Maturity Treasury Fund                          July 1, 2007       June 30, 2014
Invesco Money Market Fund                                       July 1, 2007       June 30, 2014
Invesco Municipal Bond Fund                                     July 1, 2007       June 30, 2014
Invesco Real Estate Fund                                        July 1, 2007       June 30, 2014
Invesco Short Term Bond Fund                                    July 1, 2007       June 30, 2014
Invesco U.S. Government Fund                                    July 1, 2007       June 30, 2014
</TABLE>
--------
*  Advisory fees to be waived by Invesco for Invesco Balanced-Risk Allocation
   Fund also include advisory fees that Invesco receives on the Uninvested Cash
   from the Affiliated Money Market Fund in which Invesco Cayman Commodity Fund
   I, Ltd. invests.
** Advisory fees to be waived by Invesco for Invesco Balanced-Risk Commodity
   Strategy Fund also include advisory fees that Invesco receives on the
   Uninvested Cash from the Affiliated Money Market Fund in which Invesco
   Cayman Commodity Fund III, Ltd. invests.

<PAGE>

                                                               SUB-ITEM 77Q1(e)

                    AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
                    ---------------------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE     COMMITTED UNTIL
----                                                         -------------------  ---------------
<S>                                                          <C>                  <C>
Invesco American Value Fund                                   February 12, 2010    June 30, 2014
Invesco Comstock Fund                                         February 12, 2010    June 30, 2014
Invesco Energy Fund                                             July 1, 2007       June 30, 2014
Invesco Dividend Income Fund                                    July 1, 2007       June 30, 2014
Invesco Gold & Precious Metals Fund                             July 1, 2007       June 30, 2014
Invesco Mid Cap Growth Fund                                   February 12, 2010    June 30, 2014
Invesco Small Cap Value Fund                                  February 12, 2010    June 30, 2014
Invesco Technology Fund                                         July 1, 2007       June 30, 2014
Invesco Technology Sector Fund                                February 12, 2010    June 30, 2014
Invesco Value Opportunities Fund                              February 12, 2010    June 30, 2014
</TABLE>

                AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
                -----------------------------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE     COMMITTED UNTIL
----                                                         -------------------  ---------------
<S>                                                          <C>                  <C>
Invesco High Yield Municipal Fund                             February 12, 2010    June 30, 2014
Invesco Intermediate Term Municipal Income Fund               February 12, 2010    June 30, 2014
Invesco Municipal Income Fund                                 February 12, 2010    June 30, 2014
Invesco New York Tax Free Income Fund                         February 12, 2010    June 30, 2014
Invesco Tax-Exempt Cash Fund                                    July 1, 2007       June 30, 2014
Invesco Tax-Free Intermediate Fund                              July 1, 2007       June 30, 2014
</TABLE>

        AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
        ---------------------------------------------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE     COMMITTED UNTIL
----                                                         -------------------  ---------------
<S>                                                          <C>                  <C>
Invesco V.I. American Franchise Fund                          February 12, 2010   April 30, 2015
Invesco V.I. American Value Fund                              February 12, 2010   April 30, 2015
Invesco V.I. Balanced-Risk Allocation Fund***                 December 22, 2010   April 30, 2015
Invesco V.I. Comstock Fund                                    February 12, 2010   April 30, 2015
Invesco V.I. Core Equity Fund                                   July 1, 2007      April 30, 2015
Invesco V.I. Diversified Dividend Fund                        February 12, 2010   April 30, 2015
Invesco V.I. Diversified Income Fund                            July 1, 2007      April 30, 2015
Invesco V.I. Equally-Weighted S&P 500 Fund                    February 12, 2010   April 30, 2015
Invesco V.I. Equity and Income Fund                           February 12, 2010   April 30, 2015
Invesco V.I. Global Core Equity Fund                          February 12, 2010   April 30, 2015
Invesco V.I. Global Health Care Fund                            July 1, 2007      April 30, 2015
Invesco V.I. Global Real Estate Fund                            July 1, 2007      April 30, 2015
Invesco V.I. Government Securities Fund                         July 1, 2007      April 30, 2015
Invesco V.I. Growth and Income Fund                           February 12, 2010   April 30, 2015
Invesco V.I. High Yield Fund                                    July 1, 2007      April 30, 2015
Invesco V.I. International Growth Fund                          July 1, 2007      April 30, 2015
Invesco V.I. Mid Cap Core Equity Fund                           July 1, 2007      April 30, 2015
Invesco V.I. Money Market Fund                                  July 1, 2007      April 30, 2015
Invesco V.I. S&P 500 Index Fund                               February 12, 2010   April 30, 2015
Invesco V.I. Small Cap Equity Fund                              July 1, 2007      April 30, 2015
Invesco V.I. Technology Fund                                    July 1, 2007      April 30, 2015
Invesco V.I. Utilities Fund                                     July 1, 2007      April 30, 2015
Invesco V.I. Value Opportunities Fund                           July 1, 2007      April 30, 2015
</TABLE>
--------
*** Advisory fees to be waived by Invesco for Invesco V.I. Balanced-Risk
    Allocation Fund also include an amount equal to advisory fees that Invesco
    receives from any money market fund or similarly pooled cash equivalent
    investment vehicle advised by Invesco and/or Invesco's affiliates in which
    Invesco Cayman Commodity Fund IV, Ltd. invests.

<PAGE>

                           INVESCO SECURITIES TRUST
                           ------------------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE      COMMITTED UNTIL
----                                                         -------------------  -----------------
<S>                                                          <C>                  <C>
Invesco Balanced-Risk Aggressive Allocation Fund              January 16, 2013    February 28, 2015
</TABLE>

                               CLOSED-END FUNDS
                               ----------------

<TABLE>
<CAPTION>
FUND                                                           EFFECTIVE DATE     COMMITTED UNTIL
----                                                         -------------------  ---------------
<S>                                                          <C>                  <C>
Invesco Municipal Income Opportunities Trust                    June 1, 2010       June 30, 2014
Invesco Quality Municipal Income Trust                          June 1, 2010       June 30, 2014
Invesco Value Municipal Income Trust                            June 1, 2010       June 30, 2014
</TABLE>

<PAGE>

                                                               SUB-ITEM 77Q1(e)

                            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 (Invesco
Counselor Series Trust), AIM Equity Funds (Invesco Equity Funds), AIM Funds
Group (Invesco Funds Group), AIM Growth Series (Invesco Growth Series), AIM
International Mutual Funds (Invesco International Mutual Funds), AIM Investment
Funds (Invesco Investment Funds), AIM Investment Securities Funds (Invesco
Investment Securities Funds), AIM Sector Funds (Invesco Sector Funds), AIM
Tax-Exempt Funds (Invesco Tax-Exempt Funds), AIM Variable Insurance Funds
(Invesco Variable Insurance Funds), Invesco Municipal Income Opportunities
Trust, Invesco Quality Municipal Income Trust, Invesco Securities Trust,
Invesco Value Municipal Income Trust 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 Advisers,
Inc. ("Invesco"). Invesco 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 agree as follows:

   For the Contractual Limits (listed in Exhibits A - D), Invesco agrees until
at least the expiration date set forth on the attached Exhibits A - D (the
"Expiration Date") that Invesco 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 or
non-routine items, including litigation expenses; and (v) 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 may terminate or modify
this Memorandum of Agreement prior to the Expiration Date only by mutual
written consent. Invesco will not have any right to reimbursement of any amount
so waived or reimbursed.

   For the Contractual Limits, Invesco agrees 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 Invesco has agreed to continue them. The Exhibits
will be amended to reflect any such agreement.

   For the Voluntary Limits (listed in Exhibits A - D), Invesco agrees that
these are not contractual in nature and that Invesco may establish, amend
and/or terminate such expense limitations at any time in its sole discretion.
Any delay or failure by Invesco 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.

<PAGE>

   IN WITNESS WHEREOF, each of the Trusts and Invesco have entered into this
Memorandum of Agreement as of the Effective Dates on the attached Exhibits.

AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)
AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)
AIM FUNDS GROUP (INVESCO FUNDS GROUP)
AIM GROWTH SERIES (INVESCO GROWTH SERIES)
AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)
AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)
AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)
AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)
AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)
AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST
INVESCO QUALITY MUNICIPAL INCOME TRUST
INVESCO SECURITIES TRUST
INVESCO VALUE MUNICIPAL INCOME TRUST
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 ADVISERS, INC.

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

                                       2

<PAGE>

                                                        as of December 17, 2013

                         EXHIBIT "A" - RETAIL FUNDS/1/
                         -----------------------------

          AIM COUNSELOR SERIES TRUST (INVESCO COUNSELOR SERIES TRUST)

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco American Franchise
Fund
   Class A Shares                    Contractual          2.00%        July 1, 2013       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2013       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2013       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2013       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2013       June 30, 2014
   Class R6 Shares                   Contractual          1.75%        July 1, 2013       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2013       June 30, 2014

Invesco California Tax-Free
Income Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014

Invesco Core Plus Bond Fund
   Class A Shares                    Contractual          0.75%        June 6, 2011     December 31, 2013
   Class B Shares                    Contractual          1.50%        June 6, 2011     December 31, 2013
   Class C Shares                    Contractual          1.50%        June 6, 2011     December 31, 2013
   Class R Shares                    Contractual          1.00%        June 6, 2011     December 31, 2013
   Class R5 Shares                   Contractual          0.50%        June 6, 2011     December 31, 2013
   Class R6 Shares                   Contractual          0.50%      September 24, 2012 December 31, 2013
   Class Y Shares                    Contractual          0.50%        June 6, 2011     December 31, 2013

Invesco Core Plus Bond Fund
   Class A Shares                    Contractual          0.84%       January 1, 2014   December 31, 2014
   Class B Shares                    Contractual          1.59%       January 1, 2014   December 31, 2014
   Class C Shares                    Contractual          1.59%       January 1, 2014   December 31, 2014
   Class R Shares                    Contractual          1.09%       January 1, 2014   December 31, 2014
   Class R5 Shares                   Contractual          0.59%       January 1, 2014   December 31, 2014
   Class R6 Shares                   Contractual          0.59%       January 1, 2014   December 31, 2014
   Class Y Shares                    Contractual          0.59%       January 1, 2014   December 31, 2014

Invesco Equally-Weighted S&P
500 Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014

Invesco Equity and Income Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          1.25%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014

Invesco Floating Rate Fund
   Class A Shares                    Contractual          1.50%       April 14, 2006      June 30, 2014
   Class C Shares                    Contractual          2.00%       April 14, 2006      June 30, 2014
   Class R Shares                    Contractual          1.75%       April 14, 2006      June 30, 2014
   Class R5 Shares                   Contractual          1.25%       April 14, 2006      June 30, 2014
   Class R6 Shares                   Contractual          1.25%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.25%       October 3, 2008     June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A.

                                       3

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Global Real Estate
Income Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014

Invesco Growth and Income Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014

Invesco Low Volatility Equity
Yield Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2012       June 30, 2014

Invesco Pennsylvania Tax Free
Income Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014

Invesco S&P 500 Index Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014

Invesco Small Cap Discovery
Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
</TABLE>

                    AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)

<TABLE>
<CAPTION>
                                   CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                 VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                            -------------------  -------------  ------------------ -----------------
<S>                             <C>                  <C>            <C>                <C>
Invesco Charter Fund
   Class A Shares                   Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                   Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                   Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R Shares                   Contractual          2.25%        July 1, 2009       June 30, 2014
   Class R5 Shares                  Contractual          1.75%        July 1, 2009       June 30, 2014
   Class R6 Shares                  Contractual          1.75%      September 24, 2012   June 30, 2014
   Class S Shares                   Contractual          1.90%      September 25, 2009   June 30, 2014
   Class Y Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A

                                       4

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Disciplined Equity
Fund
   Class Y Shares                    Contractual          1.75%        July 14, 2009      June 30, 2014

Invesco Diversified Dividend
Fund
   Class A Shares                    Contractual          2.00%        July 1, 2013       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2013       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2013       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2013       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2013       June 30, 2014
   Class R6 Shares                   Contractual          1.75%        July 1, 2013       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2013       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2013       June 30, 2014

Invesco Summit Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class P Shares                    Contractual          1.85%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class S Shares                    Contractual          1.90%      September 25, 2009   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014
</TABLE>

                     AIM FUNDS GROUP (INVESCO FUNDS GROUP)

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco European Small
Company Fund
   Class A Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco Global Core Equity
Fund
   Class A Shares                    Contractual          2.25%        July 1, 2013       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2013       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2013       June 30, 2014
   Class R Shares                    Contractual          2.50%        July 1, 2013       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2013       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2013       June 30, 2014

Invesco International Small
Company Fund
   Class A Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          2.00%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco Small Cap Equity Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A

                                       5

<PAGE>

                                                        as of December 17, 2013


                   AIM GROWTH SERIES (INVESCO GROWTH SERIES)

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Alternative
Strategies Fund
   Class A Shares                    Contractual          0.82%      December 17, 2013  December 31, 2015
   Class C Shares                    Contractual          1.57%      December 17, 2013  December 31, 2015
   Class R Shares                    Contractual          1.07%      December 17, 2013  December 31, 2015
   Class R5 Shares                   Contractual          0.57%      December 17, 2013  December 31, 2015
   Class R6 Shares                   Contractual          0.57%      December 17, 2013  December 31, 2015
   Class Y Shares                    Contractual          0.57%      December 17, 2013  December 31, 2015

Invesco Balanced-Risk
Retirement 2020 Fund
   Class A Shares                    Contractual          0.25%      November 4, 2009    April 30, 2015
   Class AX Shares                   Contractual          0.25%      February 12, 2010   April 30, 2015
   Class B Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class C Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class CX Shares                   Contractual          1.00%      February 12, 2010   April 30, 2015
   Class R Shares                    Contractual          0.50%      November 4, 2009    April 30, 2015
   Class R5 Shares                   Contractual          0.00%      November 4, 2009    April 30, 2015
   Class R6 Shares                   Contractual          0.00%      September 24, 2012  April 30, 2015
   Class RX Shares                   Contractual          0.50%      February 12, 2010   April 30, 2015
   Class Y Shares                    Contractual          0.00%      November 4, 2009    April 30, 2015

Invesco Balanced-Risk
Retirement 2030 Fund
   Class A Shares                    Contractual          0.25%      November 4, 2009    April 30, 2015
   Class AX Shares                   Contractual          0.25%      February 12, 2010   April 30, 2015
   Class B Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class C Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class CX Shares                   Contractual          1.00%      February 12, 2010   April 30, 2015
   Class R Shares                    Contractual          0.50%      November 4, 2009    April 30, 2015
   Class R5 Shares                   Contractual          0.00%      November 4, 2009    April 30, 2015
   Class R6 Shares                   Contractual          0.00%      September 24, 2012  April 30, 2015
   Class RX Shares                   Contractual          0.50%      February 12, 2010   April 30, 2015
   Class Y Shares                    Contractual          0.00%      November 4, 2009    April 30, 2015

Invesco Balanced-Risk
Retirement 2040 Fund
   Class A Shares                    Contractual          0.25%      November 4, 2009    April 30, 2015
   Class AX Shares                   Contractual          0.25%      February 12, 2010   April 30, 2015
   Class B Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class C Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class CX Shares                   Contractual          1.00%      February 12, 2010   April 30, 2015
   Class R Shares                    Contractual          0.50%      November 4, 2009    April 30, 2015
   Class R5 Shares                   Contractual          0.00%      November 4, 2009    April 30, 2015
   Class R6 Shares                   Contractual          0.00%      September 24, 2012  April 30, 2015
   Class RX Shares                   Contractual          0.50%      February 12, 2010   April 30, 2015
   Class Y Shares                    Contractual          0.00%      November 4, 2009    April 30, 2015

Invesco Balanced-Risk
Retirement 2050 Fund
   Class A Shares                    Contractual          0.25%      November 4, 2009    April 30, 2015
   Class AX Shares                   Contractual          0.25%      February 12, 2010   April 30, 2015
   Class B Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class C Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class CX Shares                   Contractual          1.00%      February 12, 2010   April 30, 2015
   Class R Shares                    Contractual          0.50%      November 4, 2009    April 30, 2015
   Class R5 Shares                   Contractual          0.00%      November 4, 2009    April 30, 2015
   Class R6 Shares                   Contractual          0.00%      September 24, 2012  April 30, 2015
   Class RX Shares                   Contractual          0.50%      February 12, 2010   April 30, 2015
   Class Y Shares                    Contractual          0.00%      November 4, 2009    April 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A

                                       6

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Balanced-Risk
Retirement Now Fund
   Class A Shares                    Contractual          0.25%      November 4, 2009    April 30, 2015
   Class AX Shares                   Contractual          0.25%      February 12, 2010   April 30, 2015
   Class B Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class C Shares                    Contractual          1.00%      November 4, 2009    April 30, 2015
   Class CX Shares                   Contractual          1.00%      February 12, 2010   April 30, 2015
   Class R Shares                    Contractual          0.50%      November 4, 2009    April 30, 2015
   Class R5 Shares                   Contractual          0.00%      November 4, 2009    April 30, 2015
   Class R6 Shares                   Contractual          0.00%      September 24, 2012  April 30, 2015
   Class RX Shares                   Contractual          0.50%      February 12, 2010   April 30, 2015
   Class Y Shares                    Contractual          0.00%      November 4, 2009    April 30, 2015

Invesco Conservative
Allocation Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class S Shares                    Contractual          1.40%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014

Invesco Convertible
Securities Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          1.25%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014

Invesco Global Low Volatility
Equity Yield Fund
   Class A Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.50%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco Growth Allocation Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2012       June 30, 2014
   Class S Shares                    Contractual          1.90%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014

Invesco Income Allocation Fund
   Class A Shares                    Contractual          0.25%         May 1, 2012      April 30, 2015
   Class B Shares                    Contractual          1.00%         May 1, 2012      April 30, 2015
   Class C Shares                    Contractual          1.00%         May 1, 2012      April 30, 2015
   Class R Shares                    Contractual          0.50%         May 1, 2012      April 30, 2015
   Class R5 Shares                   Contractual          0.00%         May 1, 2012      April 30, 2015
   Class Y Shares                    Contractual          0.00%         May 1, 2012      April 30, 2015

Invesco International
Allocation Fund
   Class A Shares                    Contractual          2.25%         May 1, 2012       June 30, 2014
   Class B Shares                    Contractual          3.00%         May 1, 2012       June 30, 2014
   Class C Shares                    Contractual          3.00%         May 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.50%         May 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          2.00%         May 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          2.00%         May 1, 2012       June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A

                                       7

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Mid Cap Core Equity
Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014

Invesco Moderate Allocation
Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class S Shares                    Contractual          1.40%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014

Invesco Small Cap Growth Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco U.S. Mortgage Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014
</TABLE>

      AIM INTERNATIONAL MUTUAL FUNDS (INVESCO INTERNATIONAL MUTUAL FUNDS)

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  -----------------  -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Asia Pacific Growth
Fund
   Class A Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco European Growth Fund
   Class A Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.50%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Investor Class Shares             Contractual          2.25%        July 1, 2009       June 30, 2014

Invesco Global Growth Fund
   Class A Shares                    Contractual          2.25%       January 1, 2013     June 30, 2014
   Class B Shares                    Contractual          3.00%       January 1, 2013     June 30, 2014
   Class C Shares                    Contractual          3.00%       January 1, 2013     June 30, 2014
   Class R5 Shares                   Contractual          2.00%       January 1, 2013     June 30, 2014
   Class R6 Shares                   Contractual          2.00%       January 1, 2013     June 30, 2014
   Class Y Shares                    Contractual          2.00%       January 1, 2013     June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A

                                       8

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Global Opportunities
Fund
   Class A Shares                    Contractual          1.36%       August 1, 2012    February 28, 2015
   Class C Shares                    Contractual          2.11%       August 1, 2012    February 28, 2015
   Class R Shares                    Contractual          1.61%       August 1, 2012    February 28, 2015
   Class R5 Shares                   Contractual          1.11%       August 1, 2012    February 28, 2015
   Class R6 Shares                   Contractual          1.11%      September 24, 2012 February 28, 2015
   Class Y Shares                    Contractual          1.11%       August 1, 2012    February 28, 2015

Invesco Global Small & Mid
Cap Growth
   Fund
   Class A Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco International Core
Equity Fund
   Class A Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.50%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          2.00%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Investor Class Shares             Contractual          2.25%        July 1, 2009       June 30, 2014

Invesco International Growth
Fund
   Class A Shares                    Contractual          2.25%        July 1, 2013       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2013       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2013       June 30, 2014
   Class R Shares                    Contractual          2.50%        July 1, 2013       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2013       June 30, 2014
   Class R6 Shares                   Contractual          2.00%        July 1, 2013       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2013       June 30, 2014

Invesco Select Opportunities
Fund
   Class A Shares                    Contractual          1.51%       August 1, 2012    February 28, 2015
   Class C Shares                    Contractual          2.26%       August 1, 2012    February 28, 2015
   Class R Shares                    Contractual          1.76%       August 1, 2012    February 28, 2015
   Class R5 Shares                   Contractual          1.26%       August 1, 2012    February 28, 2015
   Class R6 Shares                   Contractual          1.26%      September 24, 2012 February 28, 2015
   Class Y Shares                    Contractual          1.26%       August 1, 2012    February 28, 2015
</TABLE>

                AIM INVESTMENT FUNDS (INVESCO INVESTMENT FUNDS)

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco All Cap Market
Neutral Fund
   Class A Shares                    Contractual          1.62%      December 17, 2013  December 31, 2015
   Class C Shares                    Contractual          2.37%      December 17, 2013  December 31, 2015
   Class R Shares                    Contractual          1.87%      December 17, 2013  December 31, 2015
   Class R5 Shares                   Contractual          1.37%      December 17, 2013  December 31, 2015
   Class R6 Shares                   Contractual          1.37%      December 17, 2013  December 31, 2015
   Class Y Shares                    Contractual          1.37%      December 17, 2013  December 31, 2015

Invesco Balanced-Risk
Allocation Fund/3/
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A

                                       9

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Balanced-Risk
Commodity Strategy Fund/4/
   Class A Shares                    Contractual          1.22%      November 29, 2010    June 30, 2014
   Class B Shares                    Contractual          1.97%      November 29, 2010    June 30, 2014
   Class C Shares                    Contractual          1.97%      November 29, 2010    June 30, 2014
   Class R Shares                    Contractual          1.47%      November 29, 2010    June 30, 2014
   Class R5 Shares                   Contractual          0.97%      November 29, 2010    June 30, 2014
   Class R6 Shares                   Contractual          0.97%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          0.97%      November 29, 2010    June 30, 2014

Invesco China Fund
   Class A Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco Developing Markets
Fund
   Class A Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          2.00%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014

Invesco Emerging Markets
Equity Fund
   Class A Shares                    Contractual          1.85%        May 11, 2011     February 28, 2015
   Class C Shares                    Contractual          2.60%        May 11, 2011     February 28, 2015
   Class R Shares                    Contractual          2.10%        May 11, 2011     February 28, 2015
   Class R5 Shares                   Contractual          1.60%        May 11, 2011     February 28, 2015
   Class R6 Shares                   Contractual          1.60%      September 24, 2012 February 28, 2015
   Class Y Shares                    Contractual          1.60%        May 11, 2011     February 28, 2015

Invesco Emerging Market Local
Currency Debt Fund
   Class A Shares                    Contractual          1.24%        June 14, 2010    February 28, 2015
   Class B Shares                    Contractual          1.99%        June 14, 2010    February 28, 2015
   Class C Shares                    Contractual          1.99%        June 14, 2010    February 28, 2015
   Class R Shares                    Contractual          1.49%        June 14, 2010    February 28, 2015
   Class Y Shares                    Contractual          0.99%        June 14, 2010    February 28, 2015
   Class R5 Shares                   Contractual          0.99%        June 14, 2010    February 28, 2015
   Class R6 Shares                   Contractual          0.99%      September 24, 2012 February 28, 2015

Invesco Endeavor Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014

Invesco Global Health Care
Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2012       June 30, 2014

Invesco Global Markets
Strategy Fund/5/
   Class A Shares                    Contractual          2.25%       August 28, 2013   December 16, 2013
   Class C Shares                    Contractual          3.00%       August 28, 2013   December 16, 2013
   Class R Shares                    Contractual          2.50%       August 28, 2013   December 16, 2013
   Class R5 Shares                   Contractual          2.00%       August 28, 2013   December 16, 2013
   Class R6 Shares                   Contractual          2.00%       August 28, 2013   December 16, 2013
   Class Y Shares                    Contractual          2.00%       August 28, 2013   December 16, 2013
</TABLE>

See page 15 for footnotes to Exhibit A

                                      10

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Global Markets
Strategy Fund/5/
   Class A Shares                    Contractual          1.80%      December 17, 2013  February 28, 2015
   Class C Shares                    Contractual          2.55%      December 17, 2013  February 28, 2015
   Class R Shares                    Contractual          2.05%      December 17, 2013  February 28, 2015
   Class R5 Shares                   Contractual          1.55%      December 17, 2013  February 28, 2015
   Class R6 Shares                   Contractual          1.55%      December 17, 2013  February 28, 2015
   Class Y Shares                    Contractual          1.55%      December 17, 2013  February 28, 2015

Invesco Global Market Neutral
Fund
   Class A Shares                    Contractual          1.62%      December 17, 2013  December 31, 2015
   Class C Shares                    Contractual          2.37%      December 17, 2013  December 31, 2015
   Class R Shares                    Contractual          1.87%      December 17, 2013  December 31, 2015
   Class R5 Shares                   Contractual          1.37%      December 17, 2013  December 31, 2015
   Class R6 Shares                   Contractual          1.37%      December 17, 2013  December 31, 2015
   Class Y Shares                    Contractual          1.37%      December 17, 2013  December 31, 2015

Invesco Global Targeted
Returns Fund
   Class A Shares                    Contractual          1.71%      December 17, 2013  December 31, 2015
   Class C Shares                    Contractual          2.46%      December 17, 2013  December 31, 2015
   Class R Shares                    Contractual          1.96%      December 17, 2013  December 31, 2015
   Class R5 Shares                   Contractual          1.46%      December 17, 2013  December 31, 2015
   Class R6 Shares                   Contractual          1.46%      December 17, 2013  December 31, 2015
   Class Y Shares                    Contractual          1.46%      December 17, 2013  December 31, 2015

Invesco International Total
Return Fund
   Class A Shares                    Contractual          1.10%       March 31, 2006    February 28, 2015
   Class B Shares                    Contractual          1.85%       March 31, 2006    February 28, 2015
   Class C Shares                    Contractual          1.85%       March 31, 2006    February 28, 2015
   Class R5 Shares                   Contractual          0.85%       October 3, 2008   February 28, 2015
   Class R6 Shares                   Contractual          0.85%      September 24, 2012 February 28, 2015
   Class Y Shares                    Contractual          0.85%       March 31, 2006    February 28, 2015

Invesco Long/Short Equity Fund
   Class A Shares                    Contractual          1.87%      December 17, 2013  December 31, 2015
   Class C Shares                    Contractual          2.62%      December 17, 2013  December 31, 2015
   Class R Shares                    Contractual          2.12%      December 17, 2013  December 31, 2015
   Class R5 Shares                   Contractual          1.62%      December 17, 2013  December 31, 2015
   Class R6 Shares                   Contractual          1.62%      December 17, 2013  December 31, 2015
   Class Y Shares                    Contractual          1.62%      December 17, 2013  December 31, 2015

Invesco Low Volatility
Emerging Markets Fund
   Class A Shares                    Contractual          1.72%      December 17, 2013  December 31, 2015
   Class C Shares                    Contractual          2.47%      December 17, 2013  December 31, 2015
   Class R Shares                    Contractual          1.97%      December 17, 2013  December 31, 2015
   Class R5 Shares                   Contractual          1.47%      December 17, 2013  December 31, 2015
   Class R6 Shares                   Contractual          1.47%      December 17, 2013  December 31, 2015
   Class Y Shares                    Contractual          1.47%      December 17, 2013  December 31, 2015

Invesco Macro international
Equity Fund
   Class A Shares                    Contractual          1.43%      December 17, 2013  December 31, 2015
   Class C Shares                    Contractual          2.18%      December 17, 2013  December 31, 2015
   Class R Shares                    Contractual          1.68%      December 17, 2013  December 31, 2015
   Class R5 Shares                   Contractual          1.18%      December 17, 2013  December 31, 2015
   Class R6 Shares                   Contractual          1.18%      December 17, 2013  December 31, 2015
   Class Y Shares                    Contractual          1.18%      December 17, 2013  December 31, 2015
</TABLE>

See page 15 for footnotes to Exhibit A

                                      11

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Macro Long/Short Fund
   Class A Shares                    Contractual          1.87%      December 17, 2013  December 31, 2015
   Class C Shares                    Contractual          2.62%      December 17, 2013  December 31, 2015
   Class R Shares                    Contractual          2.12%      December 17, 2013  December 31, 2015
   Class R5 Shares                   Contractual          1.62%      December 17, 2013  December 31, 2015
   Class R6 Shares                   Contractual          1.62%      December 17, 2013  December 31, 2015
   Class Y Shares                    Contractual          1.62%      December 17, 2013  December 31, 2015

Invesco Pacific Growth Fund
   Class A Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          3.00%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          3.00%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.50%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          2.00%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014

Invesco Premium Income Fund
   Class A Shares                    Contractual          0.89%      December 13, 2011  February 28, 2015
   Class C Shares                    Contractual          1.64%      December 13, 2011  February 28, 2015
   Class R Shares                    Contractual          1.14%      December 13, 2011  February 28, 2015
   Class R5 Shares                   Contractual          0.64%      December 13, 2011  February 28, 2015
   Class R6 Shares                   Contractual          0.64%      September 24, 2012 February 28, 2015
   Class Y Shares                    Contractual          0.64%      December 13, 2011  February 28, 2015

Invesco Select Companies Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014
</TABLE>

     AIM INVESTMENT SECURITIES FUNDS (INVESCO INVESTMENT SECURITIES FUNDS)

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Corporate Bond Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          1.25%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014

Invesco Dynamics Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco Global Real Estate
Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A

                                      12

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco High Yield Fund
   Class A Shares                    Contractual          1.50%        July 1, 2013       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2013       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2013       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2013       June 30, 2014
   Class R6 Shares                   Contractual          1.25%        July 1, 2013       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2013       June 30, 2014
   Investor Class Shares             Contractual          1.50%        July 1, 2013       June 30, 2014

Invesco Limited Maturity
Treasury Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class A2 Shares                   Contractual          1.40%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014

Invesco Municipal Bond Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014
   Investor Class Shares             Contractual          1.50%        July 1, 2012       June 30, 2014

Invesco Real Estate Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2012       June 30, 2014

Invesco Short Term Bond Fund
   Class A Shares                    Contractual          1.40%        July 1, 2013       June 30, 2014
   Class C Shares                    Contractual          1.75%/2/     July 1, 2013       June 30, 2014
   Class R Shares                    Contractual          1.75%        July 1, 2013       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2013       June 30, 2014
   Class R6 Shares                   Contractual          1.25%        July 1, 2013       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2013       June 30, 2014

Invesco U.S. Government Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014
   Investor Class Shares             Contractual          1.50%        July 1, 2012       June 30, 2014
</TABLE>

                    AIM SECTOR FUNDS (INVESCO SECTOR FUNDS)

<TABLE>
<CAPTION>
                                     CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                   VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                              -------------------  -------------  -----------------  -----------------
<S>                               <C>                  <C>            <C>                <C>
   Invesco American Value Fund
   Class A Shares                     Contractual          2.00%        July 1, 2013       June 30, 2014
   Class B Shares                     Contractual          2.75%        July 1, 2013       June 30, 2014
   Class C Shares                     Contractual          2.75%        July 1, 2013       June 30, 2014
   Class R Shares                     Contractual          2.25%        July 1, 2013       June 30, 2014
   Class R5 Shares                    Contractual          1.75%        July 1, 2013       June 30, 2014
   Class R6 Shares                    Contractual          1.75%        July 1, 2013       June 30, 2014
   Class Y Shares                     Contractual          1.75%        July 1, 2013       June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A

                                      13

<PAGE>

                                                        as of December 17, 2013

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  ------------------ -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Comstock Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2012       June 30, 2014
   Class R6 Shares                   Contractual          1.75%      September 24, 2012   June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014

Invesco Energy Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco Dividend Income Fund
   Class A Shares                    Contractual          1.10%      February 6, 2013    August 31, 2014
   Class B Shares                    Contractual          1.85%      February 6, 2013    August 31, 2014
   Class C Shares                    Contractual          1.85%      February 6, 2013    August 31, 2014
   Class R5 Shares                   Contractual          0.85%      February 6, 2013    August 31, 2014
   Class R6 Shares                   Contractual          0.85%      February 6, 2013    August 31, 2014
   Class Y Shares                    Contractual          0.85%      February 6, 2013    August 31, 2014
   Investor Class Shares             Contractual          1.10%      February 6, 2013    August 31, 2014

Invesco Gold & Precious
Metals Fund
   Class A Shares                    Contractual          2.00%        July 1, 2009       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2009       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2009       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2009       June 30, 2014

Invesco Mid Cap Growth Fund
   Class A Shares                    Contractual          1.15%        July 15, 2013      July 31, 2015
   Class B Shares                    Contractual          1.90%        July 15, 2013      July 31, 2015
   Class C Shares                    Contractual          1.90%        July 15, 2013      July 31, 2015
   Class R Shares                    Contractual          1.40%        July 15, 2013      July 31, 2015
   Class R5 Shares                   Contractual          0.90%        July 15, 2013      July 31, 2015
   Class R6 Shares                   Contractual          0.90%        July 15, 2013      July 31, 2015
   Class Y Shares                    Contractual          0.90%        July 15, 2013      July 31, 2015

Invesco Small Cap Value Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014

Invesco Technology Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
   Investor Class Shares             Contractual          2.00%        July 1, 2012       June 30, 2014

Invesco Technology Sector Fund
   Class A Shares                    Contractual          2.00%      February 12, 2010    June 30, 2014
   Class B Shares                    Contractual          2.75%      February 12, 2010    June 30, 2014
   Class C Shares                    Contractual          2.75%      February 12, 2010    June 30, 2014
   Class Y Shares                    Contractual          1.75%      February 12, 2010    June 30, 2014
</TABLE>

See page 15 for footnotes to Exhibit A

                                      14

<PAGE>

                                                        as of December 17, 2013

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  -----------------  -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco Value Opportunities
Fund
   Class A Shares                    Contractual          2.00%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.75%        July 1, 2012       June 30, 2014
   Class R Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.75%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.75%        July 1, 2012       June 30, 2014
</TABLE>

                AIM TAX-EXEMPT FUNDS (INVESCO TAX-EXEMPT FUNDS)

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  -----------------  -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco High Yield Municipal
Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014
Invesco Intermediate Term
Municipal Income Fund
   Class A Shares                    Contractual          0.80%        July 1, 2013       June 30, 2014
   Class B Shares                    Contractual          1.55%        July 1, 2013       June 30, 2014
   Class C Shares                    Contractual          1.55%        July 1, 2013       June 30, 2014
   Class Y Shares                    Contractual          0.55%        July 1, 2013       June 30, 2014
Invesco Municipal Income Fund
   Class A Shares                    Contractual          1.50%        July 1, 2013       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2013       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2013       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2013       June 30, 2014
   Investor Class                    Contractual          1.50%        July 15, 2013      June 30, 2014
Invesco New York Tax Free
Income Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class B Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014
Invesco Tax-Free Intermediate
Fund
   Class A Shares                    Contractual          1.50%        July 1, 2012       June 30, 2014
   Class A2 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class C Shares                    Contractual          2.25%        June 30, 2013      June 30, 2014
   Class R5 Shares                   Contractual          1.25%        July 1, 2012       June 30, 2014
   Class Y Shares                    Contractual          1.25%        July 1, 2012       June 30, 2014
</TABLE>

                           INVESCO SECURITIES TRUST

<TABLE>
<CAPTION>
                                  CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                           -------------------  -------------  -----------------  -----------------
<S>                            <C>                  <C>            <C>                <C>
Invesco Balanced-Risk
Aggressive Allocation Fund         Contractual          1.15%      January 16, 2013   February 28, 2015
</TABLE>

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  The expense limit shown is the expense limit after Rule 12b-1 fee waivers by
   Invesco Distributors, Inc.
3  Includes waived fees or reimbursed expenses that Invesco receives from
   Invesco Cayman Commodity Fund I, Ltd.
4  Includes waived fees or reimbursed expenses that Invesco receives from
   Invesco Cayman Commodity Fund III, Ltd.
5  Includes waived fees or reimbursed expenses that Invesco receives from
   Invesco Cayman Commodity Fund V, Ltd.

See page 15 for footnotes to Exhibit A

                                      15

<PAGE>

                                                        as of December 17, 2013


              EXHIBIT "B" - INSTITUTIONAL MONEY MARKET FUNDS/1,2/
              ---------------------------------------------------

                         SHORT-TERM INVESTMENTS TRUST

<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  -----------------  -----------------
<S>                              <C>                  <C>            <C>                <C>
Government & Agency Portfolio
   Cash Management Class             Contractual          0.22%/2/     July 1, 2009     December 31, 2014
   Corporate Class                   Contractual          0.17%        July 1, 2009     December 31, 2014
   Institutional Class               Contractual          0.14%        July 1, 2009     December 31, 2014
   Personal Investment Class         Contractual          0.69%/2/     July 1, 2009     December 31, 2014
   Private Investment Class          Contractual          0.44%/2/     July 1, 2009     December 31, 2014
   Reserve Class                     Contractual          1.01%/2/     July 1, 2009     December 31, 2014
   Resource Class                    Contractual          0.30%/2/     July 1, 2009     December 31, 2014

Government Tax Advantage
Portfolio
   Cash Management Class             Contractual          0.22%/2/     July 1, 2009     December 31, 2014
   Corporate Class                   Contractual          0.17%        July 1, 2009     December 31, 2014
   Institutional Class               Contractual          0.14%        July 1, 2009     December 31, 2014
   Personal Investment Class         Contractual          0.69%/2/     July 1, 2009     December 31, 2014
   Private Investment Class          Contractual          0.39%/2/     July 1, 2009     December 31, 2014
   Reserve Class                     Contractual          1.01%/2/     July 1, 2009     December 31, 2014
   Resource Class                    Contractual          0.30%/2/     July 1, 2009     December 31, 2014

Liquid Assets Portfolio
   Cash Management Class             Contractual          0.22%/2/     July 1, 2009     December 31, 2014
   Corporate Class                   Contractual          0.17%        July 1, 2009     December 31, 2014
   Institutional Class               Contractual          0.14%        July 1, 2009     December 31, 2014
   Personal Investment Class         Contractual          0.69%/2/     July 1, 2009     December 31, 2014
   Private Investment Class          Contractual          0.44%/2/     July 1, 2009     December 31, 2014
   Reserve Class                     Contractual          1.01%/2/     July 1, 2009     December 31, 2014
   Resource Class                    Contractual          0.34%        July 1, 2009     December 31, 2014

STIC Prime Portfolio
   Cash Management Class             Contractual          0.22%/2/     July 1, 2009     December 31, 2014
   Corporate Class                   Contractual          0.17%        July 1, 2009     December 31, 2014
   Institutional Class               Contractual          0.14%        July 1, 2009     December 31, 2014
   Personal Investment Class         Contractual          0.69%/2/     July 1, 2009     December 31, 2014
   Private Investment Class          Contractual          0.44%/2/     July 1, 2009     December 31, 2014
   Reserve Class                     Contractual          1.01%/2/     July 1, 2009     December 31, 2014
   Resource Class                    Contractual          0.30%/2/     July 1, 2009     December 31, 2014

Tax-Free Cash Reserve
Portfolio/3/
   Cash Management Class             Contractual          0.33%/2/     July 1, 2009     December 31, 2014
   Corporate Class                   Contractual          0.28%        July 1, 2009     December 31, 2014
   Institutional Class               Contractual          0.25%        July 1, 2009     December 31, 2014
   Personal Investment Class         Contractual          0.80%/2/     July 1, 2009     December 31, 2014
   Private Investment Class          Contractual          0.50%/2/     July 1, 2009     December 31, 2014
   Reserve Class                     Contractual          1.12%/2/     July 1, 2009     December 31, 2014
   Resource Class                    Contractual          0.41%/2/     July 1, 2009     December 31, 2014

Treasury Portfolio
   Cash Management Class             Contractual          0.22%/2/     July 1, 2009     December 31, 2014
   Corporate Class                   Contractual          0.17%        July 1, 2009     December 31, 2014
   Institutional Class               Contractual          0.14%        July 1, 2009     December 31, 2014
   Personal Investment Class         Contractual          0.69%/2/     July 1, 2009     December 31, 2014
   Private Investment Class          Contractual          0.44%/2/     July 1, 2009     December 31, 2014
   Reserve Class                     Contractual          1.01%/2/     July 1, 2009     December 31, 2014
   Resource Class                    Contractual          0.30%/2/     July 1, 2009     December 31, 2014
</TABLE>

/1/  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.
/2/  The expense limit shown is the expense limit after Rule 12b-1 fee waivers
     by Invesco Distributors, Inc.
/3/  The expense limitation also excludes Trustees' fees and federal
     registration expenses.


                                      16

<PAGE>

                                                        as of December 17, 2013


                    EXHIBIT "C" - VARIABLE INSURANCE FUNDS
                    --------------------------------------

        AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

<TABLE>
<CAPTION>
                                                                       EFFECTIVE
                                    CONTRACTUAL/         EXPENSE        DATE OF        EXPIRATION
FUND                                  VOLUNTARY        LIMITATION    CURRENT LIMIT        DATE
----                             -------------------  -------------  -------------  -----------------
<S>                              <C>                  <C>            <C>            <C>
Invesco V.I. American
Franchise Fund
   Series I Shares                   Contractual          0.90%      July 1, 2012     June 30, 2014
   Series II Shares                  Contractual          1.15%      July 1, 2012     June 30, 2014

Invesco V.I. American Value
Fund
   Series I Shares                   Contractual          2.00%      July 1, 2012     June 30, 2014
   Series II Shares                  Contractual          2.25%      July 1, 2012     June 30, 2014

Invesco V.I. Balanced-Risk
Allocation Fund/1/
   Series I Shares                   Contractual          0.78%      July 1, 2013    April 30, 2014
   Series II Shares                  Contractual          1.03%      July 1, 2013    April 30, 2014

Invesco V.I. Balanced-Risk
Allocation Fund/1/
   Series I Shares                   Contractual          0.76%       May 1, 2014    April 30, 2015
   Series II Shares                  Contractual          1.01%       May 1, 2014    April 30, 2015

Invesco V.I. Comstock Fund
   Series I Shares                   Contractual          0.78%       May 1, 2013    April 30, 2015
   Series II Shares                  Contractual          1.03%       May 1, 2013    April 30, 2015

Invesco V.I. Core Equity Fund
   Series I Shares                   Contractual          2.00%       May 1, 2013     June 30, 2014
   Series II Shares                  Contractual          2.25%       May 1, 2013     June 30, 2014

Invesco V.I. Diversified
Dividend Fund
   Series I Shares                   Contractual          2.00%       May 1, 2013     June 30, 2014
   Series II Shares                  Contractual          2.25%       May 1, 2013     June 30, 2014

Invesco V.I. Diversified
Income Fund
   Series I Shares                   Contractual          0.75%      July 1, 2005    April 30, 2015
   Series II Shares                  Contractual          1.00%      July 1, 2005    April 30, 2015

Invesco V.I. Equally-Weighted
S&P 500 Fund
   Series I Shares                   Contractual          2.00%      July 1, 2012     June 30, 2014
   Series II Shares                  Contractual          2.25%      July 1, 2012     June 30, 2014

Invesco V.I. Equity and
Income Fund
   Series I Shares                   Contractual          1.50%      July 1, 2012     June 30, 2014
   Series II Shares                  Contractual          1.75%      July 1, 2012     June 30, 2014
</TABLE>


                                      17

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  -----------------  -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco V.I. Global Core
Equity Fund
   Series I Shares                   Contractual          2.25%        July 1, 2012       June 30, 2014
   Series II Shares                  Contractual          2.50%        July 1, 2012       June 30, 2014

Invesco V.I. Global Health
Care Fund
   Series I Shares                   Contractual          2.00%         May 1, 2013       June 30, 2014
   Series II Shares                  Contractual          2.25%         May 1, 2013       June 30, 2014

Invesco V.I. Global Real
Estate Fund
   Series I Shares                   Contractual          2.00%         May 1, 2013       June 30, 2014
   Series II Shares                  Contractual          2.25%         May 1, 2013       June 30, 2014

Invesco V.I. Government
Securities Fund
   Series I Shares                   Contractual          1.50%         May 1, 2013       June 30, 2014
   Series II Shares                  Contractual          1.75%         May 1, 2013       June 30, 2014

Invesco V.I. Growth and
Income Fund
   Series I Shares                   Contractual          0.78%         May 1, 2013      April 30, 2015
   Series II Shares                  Contractual          1.03%         May 1, 2013      April 30, 2015

Invesco V.I. High Yield Fund
   Series I Shares                   Contractual          0.80%         May 2, 2011      April 30, 2014
   Series II Shares                  Contractual          1.05%         May 2, 2011      April 30, 2014

Invesco V.I. International
Growth Fund
   Series I Shares                   Contractual          2.25%        July 1, 2012       June 30, 2014
   Series II Shares                  Contractual          2.50%        July 1, 2012       June 30, 2014

Invesco V.I. Mid Cap Core
Equity Fund
   Series I Shares                   Contractual          2.00%         May 1, 2013       June 30, 2014
   Series II Shares                  Contractual          2.25%         May 1, 2013       June 30, 2014

Invesco V.I. Mid Cap Growth
Fund
   Series I Shares                   Contractual          1.09%        July 1, 2012       June 30, 2014
   Series II Shares                  Contractual          1.34%        July 1, 2012       June 30, 2014

Invesco V.I. Money Market Fund
   Series I Shares                   Contractual          1.50%         May 1, 2013       June 30, 2014
   Series II Shares                  Contractual          1.75%         May 1, 2013       June 30, 2014

Invesco V.I. S&P 500 Index
Fund
   Series I Shares                   Contractual          2.00%        July 1, 2012       June 30, 2014
   Series II Shares                  Contractual          2.25%        July 1, 2012       June 30, 2014
</TABLE>


                                      18

<PAGE>

                                                        as of December 17, 2013


<TABLE>
<CAPTION>
                                    CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                  VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                             -------------------  -------------  -----------------  -----------------
<S>                              <C>                  <C>            <C>                <C>
Invesco V.I. Small Cap Equity
Fund
   Series I Shares                   Contractual          2.00%         May 1, 2013       June 30, 2014
   Series II Shares                  Contractual          2.25%         May 1, 2013       June 30, 2014

Invesco V.I. Technology Fund
   Series I Shares                   Contractual          2.00%         May 1, 2013       June 30, 2014
   Series II Shares                  Contractual          2.25%         May 1, 2013       June 30, 2014

Invesco V.I. Utilities Fund
   Series I Shares                   Contractual          2.00%         May 1, 2012       June 30, 2014
   Series II Shares                  Contractual          2.25%         May 1, 2012       June 30, 2014

Invesco V.I. Managed
Volatility Fund*
   Series I Shares                   Contractual          1.03%       April 30, 2014     April 30, 2015
   Series II Shares                  Contractual          1.28%       April 30, 2014     April 30, 2015

Invesco V.I. Value
Opportunities Fund
   Series I Shares                   Contractual          2.00%         May 1, 2013       June 30, 2014
   Series II Shares                  Contractual          2.25%         May 1, 2013       June 30, 2014
</TABLE>

*  The Fund name and expense limit shown is contingent upon both Board of
   Trustee and shareholder approval of certain changes to the Fund.


                                      19

<PAGE>

                                                        as of December 17, 2013


                        EXHIBIT "D" - CLOSED-END FUNDS

                 INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST

<TABLE>
<CAPTION>
                                  CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                           -------------------  -------------  -----------------  -----------------
<S>                            <C>                  <C>            <C>                <C>
Invesco Municipal Income           Contractual          0.67%       August 27, 2012    August 31, 2014
Opportunities Trust
</TABLE>

                    INVESCO QUALITY MUNICIPAL INCOME TRUST

<TABLE>
<CAPTION>
                                  CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                           -------------------  -------------  -----------------  -----------------
<S>                            <C>                  <C>            <C>                <C>
Invesco Quality Municipal          Contractual          0.50%      October 15, 2012   October 31, 2014
Income Trust
</TABLE>

                     INVESCO VALUE MUNICIPAL INCOME TRUST

<TABLE>
<CAPTION>
                                  CONTRACTUAL/         EXPENSE     EFFECTIVE DATE OF     EXPIRATION
FUND                                VOLUNTARY        LIMITATION      CURRENT LIMIT          DATE
----                           -------------------  -------------  -----------------  -----------------
<S>                            <C>                  <C>            <C>                <C>
Invesco Value Municipal            Contractual          0.46%      October 15, 2012   October 31, 2014
Income Trust
</TABLE>

See page 15 for footnotes to Exhibit A

                                      20
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
