<SEC-DOCUMENT>0001193125-14-388796.txt : 20141030
<SEC-HEADER>0001193125-14-388796.hdr.sgml : 20141030
<ACCEPTANCE-DATETIME>20141030114300
ACCESSION NUMBER:		0001193125-14-388796
CONFORMED SUBMISSION TYPE:	NSAR-A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140831
FILED AS OF DATE:		20141030
DATE AS OF CHANGE:		20141030
EFFECTIVENESS DATE:		20141030

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-A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05597
		FILM NUMBER:		141182240

	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>
<DOCUMENT>
<TYPE>NSAR-A
<SEQUENCE>1
<FILENAME>d788655dnsara.fil
<DESCRIPTION>NSAR-A
<TEXT>
      PAGE  1
000 A000000 08/31/2014
000 C000000 0000835333
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST
001 B000000 811-05597
001 C000000 7136261919
002 A000000 11 GREENWAY PLAZA
002 B000000 HOUSTON
002 C000000 TX
002 D010000 77046
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
008 A000001 Invesco Advisers, Inc.
008 B000001 A
008 C000001 801-33949
008 D010001 Atlanta
008 D020001 GA
008 D030001 30309
008 A000002 Invesco Asset Management Deutschland GmbH
008 B000002 S
008 C000002 801-67712
008 D010002 Frankfurt
008 D050002 Germany
008 D060002 60313
008 A000003 Invesco Asset Management Limited
008 B000003 S
008 C000003 801-50197
008 D010003 London
008 D050003 United Kingdom
008 D060003 EC2A1AG
008 A000004 Invesco Asset Management (Japan) Ltd.
008 B000004 S
008 C000004 801-52601
008 D010004 Tokyo
008 D050004 Japan
008 D060004 105-6025
008 A000005 Invesco Australia Limited
008 B000005 S
008 C000005 801-68638
008 D010005 Melbourne
      PAGE  2
008 D050005 Australia
008 D060005 3000
008 A000006 Invesco Hong Kong Limited
008 B000006 S
008 C000006 801-47856
008 D010006 HONG KONG
008 D050006 HONG KONG
008 A000007 Invesco Senior Secured Management, Inc.
008 B000007 S
008 C000007 801-38119
008 D010007 NEW YORK
008 D020007 NY
008 D030007 10036
008 D040007 2727
008 A000008 Invesco Canada Ltd.
008 B000008 S
008 C000008 801-62166
008 D010008 TORONTO
008 D050008 CANADA
008 D060008 M2N 6X7
010 A000001 Invesco Management Group Inc.
010 B000001 33-67866
010 C010001 Houston
010 C020001 TX
010 C030001 77046
012 A000001 COMPUTERSHARE TRUST COMPANY, N.A.
012 B000001 85-11340
012 C010001 PROVIDENCE
012 C020001 RI
012 C030001 02940
012 C040001 0301
013 A000001 PRICEWATERHOUSE COOPERS, LLP
013 B010001 HOUSTON
013 B020001 TX
013 B030001 77002
015 A000001 STATE STREET BANK AND TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02111
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000  141
019 C000000 INVESCOFDS
021  000000        0
022 A000001 CITIGROUP GLOBAL MARKETS INC.
022 B000001 11-2418191
022 C000001     11067
022 D000001     11993
022 A000002 MORGAN STANLEY & CO., INC.
      PAGE  3
022 B000002 13-2655998
022 C000002      5709
022 D000002      8431
022 A000003 J.P. MORGAN SECURITIES INC.
022 B000003 13-3299429
022 C000003      7508
022 D000003      4535
022 A000004 WELLS FARGO SECURITIES, LLC
022 B000004 56-2326000
022 C000004      3600
022 D000004      3600
022 A000005 LOOP CAPITAL MARKETS LLC
022 B000005 36-4164012
022 C000005      3249
022 D000005      1038
022 A000006 GOLDMAN, SACHS & CO.
022 B000006 13-5108880
022 C000006      4180
022 D000006         0
022 A000007 BANC OF AMERICA SECURITIES LLC
022 B000007 56-2058405
022 C000007      4154
022 D000007         0
022 A000008 HERBERT J. SIMS & CO. INC.
022 B000008 13-5213180
022 C000008       739
022 D000008      2914
022 A000009 BNY Mellon Capital Markets, LLC
022 B000009 23-2384977
022 C000009      2000
022 D000009      1500
022 A000010 PIPER JAFFRAY & CO.
022 B000010 41-0953246
022 C000010      1734
022 D000010      1122
023 C000000      49301
023 D000000      39762
024  000000 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 N
028 A010000         0
028 A020000         0
028 A030000         0
      PAGE  4
028 A040000         0
028 B010000         0
028 B020000         0
028 B030000         0
028 B040000         0
028 C010000         0
028 C020000         0
028 C030000         0
028 C040000         0
028 D010000         0
028 D020000         0
028 D030000         0
028 D040000         0
028 E010000         0
028 E020000         0
028 E030000         0
028 E040000         0
028 F010000         0
028 F020000         0
028 F030000         0
028 F040000         0
028 G010000         0
028 G020000         0
028 G030000         0
028 G040000         0
028 H000000         0
030 A000000      0
030 B000000  0.00
030 C000000  0.00
031 A000000      0
031 B000000      0
032  000000      0
033  000000      0
035  000000      0
036 B000000      0
038  000000      0
042 A000000   0
042 B000000   0
042 C000000   0
042 D000000   0
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000   0
043  000000      0
044  000000      0
045  000000 Y
046  000000 N
047  000000 Y
048  000000  0.550
048 A010000        0
      PAGE  5
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
049  000000 N
050  000000 N
051  000000 N
052  000000 N
053 A000000 Y
053 B000000 Y
053 C000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056  000000 Y
057  000000 N
058 A000000 N
059  000000 Y
060 A000000 Y
060 B000000 Y
      PAGE  6
061  000000        0
062 A000000 Y
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
062 E000000   0.0
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   0.0
062 M000000   0.0
062 N000000   0.0
062 O000000 110.9
062 P000000   0.0
062 Q000000   0.0
062 R000000   0.0
063 A000000   0
063 B000000 22.8
064 A000000 Y
064 B000000 Y
066 A000000 N
067  000000 N
068 A000000 N
068 B000000 N
069  000000 N
070 A010000 Y
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 N
      PAGE  7
070 L020000 N
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 Y
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000     36813
071 B000000     30132
071 C000000    377698
071 D000000    8
072 A000000  6
072 B000000    10792
072 C000000        0
072 D000000        0
072 E000000        0
072 F000000     1058
072 G000000        0
072 H000000        0
072 I000000        7
072 J000000        4
072 K000000        0
072 L000000       24
072 M000000       15
072 N000000       22
072 O000000        0
072 P000000      128
072 Q000000       40
072 R000000       25
072 S000000        8
072 T000000        0
072 U000000        9
072 V000000        0
072 W000000       39
072 X000000     1379
072 Y000000       89
072 Z000000     9502
072AA000000      953
072BB000000      681
072CC010000    17904
072CC020000        0
072DD010000     9817
072DD020000        0
072EE000000        0
073 A010000   0.2070
      PAGE  8
073 A020000   0.0000
073 B000000   0.0000
073 C000000   0.0000
074 A000000        0
074 B000000        0
074 C000000        0
074 D000000   390772
074 E000000        0
074 F000000        0
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000     3159
074 K000000       16
074 L000000     5535
074 M000000       76
074 N000000   399558
074 O000000        0
074 P000000        0
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000    47271
074 S000000        0
074 T000000   352287
074 U010000    47425
074 U020000        0
074 V010000     7.43
074 V020000     0.00
074 W000000   0.0000
074 X000000      653
074 Y000000        0
075 A000000        0
075 B000000   344226
076  000000     6.92
077 A000000 Y
077 B000000 N
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
      PAGE  9
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 C000000        0
081 B000000   0
082 B000000        0
083 B000000        0
084 B000000        0
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
087 A010000 SHARES OF BENEFICIAL INTEREST
087 A020000 46132X101
087 A030000 OIA
088 A000000 N
088 B000000 N
088 C000000 N
088 D000000 N
SIGNATURE   KELLI GALLEGOS
TITLE       ASSISTANT VP AND ASSISTANT TREASURER

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77C
<SEQUENCE>2
<FILENAME>d788655dex9977c.txt
<DESCRIPTION>EX-99.77C
<TEXT>
<PAGE>

                                                                   Sub-Item 77C

              SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

                 INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST

An Annual Meeting ("Meeting") of Shareholders of Invesco Municipal Income
Opportunities Trust (the "Fund") was held on August 27, 2014. The Meeting was
held for the following purpose:

(1). Elect five Trustees by the holders of Common Shares of the Fund, each of
     whom will serve for a three-year term or until a successor has been duly
     elected and qualified.

The results of the voting on the above matter were as follows:

<TABLE>
<CAPTION>
                                                              Votes      Votes
Matter                                                         For      Against
------                                                      ---------- ---------
<S>                                                         <C>        <C>
(1). David C. Arch......................................... 42,541,978 1,309,042
     Frank S. Bayley....................................... 42,421,653 1,429,367
     Larry Soll............................................ 42,483,644 1,367,376
     Philip A. Taylor...................................... 42,544,672 1,306,348
     Wayne W. Whalen....................................... 42,498,853 1,352,167
</TABLE>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q1E
<SEQUENCE>3
<FILENAME>d788655dex9977q1e.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 COUNSELOR
  SERIES TRUST
(INVESCO COUNSELOR                                                          EFFECTIVE EXPIRATION
  SERIES TRUST)                       WAIVER DESCRIPTION                      DATE       DATE
------------------  ------------------------------------------------------  --------- ----------
<C>                 <S>                                                     <C>       <C>
Invesco Strategic   Invesco will waive advisory fees in an amount equal to  4/30/2014 04/30/2015
Real Return Fund      the advisory fees earned on underlying affiliated
                                         investments
</TABLE>

<TABLE>
<CAPTION>

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

Invesco Strategic  Invesco will waive advisory fees in an amount equal to   5/2/2014  05/31/2015
Income Fund          the advisory fees earned on underlying affiliated
                                        investments
</TABLE>

<TABLE>
<CAPTION>

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

 Premier U.S.         Invesco will waive advisory fees in the amount of    2/1/2011  12/31/2014
 Government Money     0.07% of the Fund's average daily net assets
 Portfolio
</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
Invesco Strategic Real Return Fund                          April 30, 2014    April 30, 2015
</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 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 Multi-Asset Inflation Fund                            April 30, 2014   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>

<PAGE>

      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>

                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/1/                May 29, 2009    February 28, 2015
Invesco Balanced-Risk Commodity Strategy Fund/2/     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 Infrastructure Fund                      May 2, 2014       May 31, 2015
Invesco Global Market Neutral Fund                   December 17, 2013  December 31, 2015
Invesco Global Markets Strategy Fund/3/              September 25, 2012 February 28, 2015
Invesco Global Targeted Returns Fund/4/              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
Invesco Strategic Income Fund                           May 2, 2014       May 31, 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 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 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>
--------
/1/  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.
/2/  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.
/3/  Advisory fees to be waived by Invesco for Invesco Global Markets 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 V, Ltd. invests.
/4/  Advisory fees to be waived by Invesco for Invesco Global Targeted Returns
     Fund also include advisory fees that Invesco receives on the Uninvested
     Cash from the Affiliated Money Market Fund in which Invesco Cayman
     Commodity Fund VII, Ltd. invests.

<PAGE>

                    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/5/           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. Mid Cap Growth Fund                        February 12, 2010 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. Managed Volatility Fund                      July 1, 2007    April 30, 2015
Invesco V.I. Value Opportunities Fund                     July 1, 2007    April 30, 2015
</TABLE>

/5/  Advisory fees to be waived by Invesco for Invesco V.I. 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 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 April 30, 2014


                         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 16 for footnotes to Exhibit A.

                                       3

<PAGE>

                                                           as of April 30, 2014


<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

Invesco Strategic Real Return Fund
   Class A Shares                                  Contractual     0.78%     April 30, 2014   April 30, 2015
   Class C Shares                                  Contractual     1.53%     April 30, 2014   April 30, 2015
   Class R Shares                                  Contractual     1.03%     April 30, 2014   April 30, 2015
   Class R5 Shares                                 Contractual     0.53%     April 30, 2014   April 30, 2015
   Class R6 Shares                                 Contractual     0.53%     April 30, 2014   April 30, 2015
   Class Y Shares                                  Contractual     0.53%     April 30, 2014   April 30, 2015
</TABLE>

See page 16 for footnotes to Exhibit A.

                                       4

<PAGE>

                                                           as of April 30, 2014


                    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

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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                       5

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                                               ------------ ---------- ------------------ -------------
<S>                                                <C>          <C>        <C>                <C>
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>

                   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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                       6

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF    EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT         DATE
----                                               ------------ ---------- ------------------ --------------
<S>                                                <C>          <C>        <C>                <C>
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

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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                       7

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF    EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT         DATE
----                                               ------------ ---------- ------------------ --------------
<S>                                                <C>          <C>        <C>                <C>
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

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 Multi-Asset Inflation Fund
   Class A Shares                                  Contractual     0.73%     April 30, 2014   April 30, 2015
   Class C Shares                                  Contractual     1.48%     April 30, 2014   April 30, 2015
   Class R Shares                                  Contractual     0.98%     April 30, 2014   April 30, 2015
   Class Y Shares                                  Contractual     0.48%     April 30, 2014   April 30, 2015
   Class R5 Shares                                 Contractual     0.48%     April 30, 2014   April 30, 2015
   Class R6 Shares                                 Contractual     0.48%     April 30, 2014   April 30, 2015

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>

See page 16 for footnotes to Exhibit A.

                                       8

<PAGE>

                                                           as of April 30, 2014


      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

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>

See page 16 for footnotes to Exhibit A.

                                       9

<PAGE>

                                                           as of April 30, 2014


                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

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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                      10

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF     EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT          DATE
----                                               ------------ ---------- ------------------ -----------------
<S>                                                <C>          <C>        <C>                <C>
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 Infrastructure Fund
   Class A Shares                                  Contractual     1.40%      May 2, 2014       May 31, 2015
   Class C Shares                                  Contractual     2.15%      May 2, 2014       May 31, 2015
   Class R Shares                                  Contractual     1.65%      May 2, 2014       May 31, 2015
   Class Y Shares                                  Contractual     1.15%      May 2, 2014       May 31, 2015
   Class R5 Shares                                 Contractual     1.15%      May 2, 2014       May 31, 2015
   Class R6 Shares                                 Contractual     1.15%      May 2, 2014       May 31, 2015

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

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/6/
   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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                      11

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF     EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT          DATE
----                                               ------------ ---------- ------------------ -----------------
<S>                                                <C>          <C>        <C>                <C>
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 MLP Fund
   Class A Shares                                  Contractual     1.50%      May 2, 2014       May 31, 2015
   Class C Shares                                  Contractual     2.25%      May 2, 2014       May 31, 2015
   Class R Shares                                  Contractual     1.75%      May 2, 2014       May 31, 2015
   Class R5 Shares                                 Contractual     1.25%      May 2, 2014       May 31, 2015
   Class R6 Shares                                 Contractual     1.25%      May 2, 2014       May 31, 2015
   Class Y Shares                                  Contractual     1.25%      May 2, 2014       May 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

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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                      12

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF     EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT          DATE
----                                               ------------ ---------- ------------------ -----------------
<S>                                                <C>          <C>        <C>                <C>
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

Invesco Strategic Income Fund
   Class A Shares                                  Contractual     0.82%      May 2, 2014       May 31, 2015
   Class C Shares                                  Contractual     1.57%      May 2, 2014       May 31, 2015
   Class R Shares                                  Contractual     1.07%      May 2, 2014       May 31, 2015
   Class Y Shares                                  Contractual     0.57%      May 2, 2014       May 31, 2015
   Class R5 Shares                                 Contractual     0.57%      May 2, 2014       May 31, 2015
   Class R6 Shares                                 Contractual     0.57%      May 2, 2014       May 31, 2015
</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 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

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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                      13

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE    EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION    CURRENT LIMIT        DATE
----                                               ------------ ----------  ------------------ -------------
<S>                                                <C>          <C>         <C>                <C>
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

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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                      14

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                                               ------------ ---------- ----------------- ---------------
<S>                                                <C>          <C>        <C>               <C>
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

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
</TABLE>

See page 16 for footnotes to Exhibit A.

                                      15

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF  EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT       DATE
----                                               ------------ ---------- ----------------- -------------
<S>                                                <C>          <C>        <C>               <C>
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.
/6/  Includes waived fees or reimbursed expenses that Invesco receives from
     Invesco Cayman Commodity Fund VII, Ltd.

                                      16

<PAGE>

                                                           as of April 30, 2014


              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 TaxAdvantage 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.

                                      17

<PAGE>

                                                           as of April 30, 2014


                    EXHIBIT "C" - VARIABLE INSURANCE FUNDS

        AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

<TABLE>
<CAPTION>
                                                       CONTRACTUAL/  EXPENSE   EFFECTIVE 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>

/1/  Includes waived fees or reimbursed expenses that Invesco receives from
     Invesco Cayman Commodity Fund IV, Ltd.

                                      18

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<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

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
</TABLE>

                                      19

<PAGE>

                                                           as of April 30, 2014


<TABLE>
<S>                                          <C>         <C>   <C>            <C>
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.

                                      20

<PAGE>

                                                           as of April 30, 2014


                        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 Opportunities Trust         Contractual     0.67%    August 27, 2012  August 31, 2014
</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 Income Trust               Contractual     0.50%   October 15, 2012  October 31, 2014
</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 Income Trust                 Contractual     0.46%   October 15, 2012  October 31, 2014
</TABLE>

                                      21

<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 Management
Trust, 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 MANAGEMENT TRUST
       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 COUNSELOR
  SERIES TRUST
(INVESCO COUNSELOR                                                                                   EFFECTIVE EXPIRATION
  SERIES TRUST)                                   WAIVER DESCRIPTION                                   DATE       DATE
------------------  -------------------------------------------------------------------------------- --------- ----------
<S>                 <C>                                                                              <C>       <C>
Invesco Strategic   Invesco will waive advisory fees in an amount equal to the advisory fees earned  4/30/2014 06/30/2016
Real Return Fund                         on underlying affiliated investments
</TABLE>

<TABLE>
<CAPTION>
 AIM INVESTMENT
 FUNDS (INVESCO                                                                              EFFECTIVE  EXPIRATION
INVESTMENT FUNDS)                             WAIVER DESCRIPTION                               DATE        DATE
------------------ ------------------------------------------------------------------------- ---------- ----------
<S>                <C>                                                                       <C>        <C>
Invesco Global     Invesco will waive advisory fees in an amount equal to the advisory fees  12/17/2013 06/30/2016
Targeted Returns                 earned on underlying affiliated investments
Fund

Invesco Strategic  Invesco will waive advisory fees in an amount equal to the advisory fees   5/2/2014  06/30/2016
Income Fund                      earned on underlying affiliated investments
</TABLE>

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

 Premier U.S.         Invesco will waive advisory fees in the amount of 0.07% of the Fund's average  2/1/2011  12/31/2014
 Government           daily net assets
 Money Portfolio
</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  June 30, 2016
Invesco California Tax-Free Income Fund                 February 12, 2010  June 30, 2016
Invesco Core Plus Bond Fund                               June 2, 2009     June 30, 2016
Invesco Equally-Weighted S&P 500 Fund                   February 12, 2010  June 30, 2016
Invesco Equity and Income Fund                          February 12, 2010  June 30, 2016
Invesco Floating Rate Fund                                July 1, 2007     June 30, 2016
Invesco Global Real Estate Income Fund                    July 1, 2007     June 30, 2016
Invesco Growth and Income Fund                          February 12, 2010  June 30, 2016
Invesco Low Volatility Equity Yield Fund                  July 1, 2007     June 30, 2016
Invesco Pennsylvania Tax Free Income Fund               February 12, 2010  June 30, 2016
Invesco S&P 500 Index Fund                              February 12, 2010  June 30, 2016
Invesco Small Cap Discovery Fund                        February 12, 2010  June 30, 2016
Invesco Strategic Real Return Fund                       April 30, 2014    June 30, 2016
</TABLE>

                    AIM EQUITY FUNDS (INVESCO EQUITY FUNDS)

<TABLE>
<CAPTION>
PORTFOLIO                                                 EFFECTIVE DATE COMMITTED UNTIL
---------                                                 -------------- ---------------
<S>                                                       <C>            <C>
Invesco Charter Fund                                       July 1, 2007   June 30, 2016
Invesco Diversified Dividend Fund                          July 1, 2007   June 30, 2016
Invesco Summit Fund                                        July 1, 2007   June 30, 2016
</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   June 30, 2016
Invesco Global Core Equity Fund                            July 1, 2007   June 30, 2016
Invesco International Small Company Fund                   July 1, 2007   June 30, 2016
Invesco Small Cap Equity Fund                              July 1, 2007   June 30, 2016
</TABLE>

                   AIM GROWTH SERIES (INVESCO GROWTH SERIES)

<TABLE>
<CAPTION>
FUND                                                    EFFECTIVE DATE   COMMITTED UNTIL
----                                                   ----------------- ---------------
<S>                                                    <C>               <C>
Invesco Convertible Securities Fund                    February 12, 2010  June 30, 2016
Invesco Global Low Volatility Equity Yield Fund          July 1, 2007     June 30, 2016
Invesco Mid Cap Core Equity Fund                         July 1, 2007     June 30, 2016
Invesco Small Cap Growth Fund                            July 1, 2007     June 30, 2016
Invesco U.S. Mortgage Fund                             February 12, 2010  June 30, 2016
</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   June 30, 2016
Invesco European Growth Fund                             July 1, 2007   June 30, 2016
Invesco Global Growth Fund                               July 1, 2007   June 30, 2016
Invesco Global Opportunities Fund                       August 3, 2012  June 30, 2016
Invesco Global Small & Mid Cap Growth Fund               July 1, 2007   June 30, 2016
Invesco International Core Equity Fund                   July 1, 2007   June 30, 2016
Invesco International Growth Fund                        July 1, 2007   June 30, 2016
Invesco Select Opportunities Fund                       August 3, 2012  June 30, 2016
</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   June 30, 2016
Invesco Balanced-Risk Allocation Fund/1/                   May 29, 2009     June 30, 2016
Invesco Balanced-Risk Commodity Strategy Fund/2/        November 29, 2010   June 30, 2016
Invesco China Fund                                         July 1, 2007     June 30, 2016
Invesco Developing Markets Fund                            July 1, 2007     June 30, 2016
Invesco Emerging Markets Equity Fund                       May 11, 2011     June 30, 2016
Invesco Emerging Market Local Currency Debt Fund          June 14, 2010     June 30, 2016
Invesco Endeavor Fund                                      July 1, 2007     June 30, 2016
Invesco Global Health Care Fund                            July 1, 2007     June 30, 2016
Invesco Global Infrastructure Fund                         May 2, 2014      June 30, 2016
Invesco Global Market Neutral Fund                      December 17, 2013   June 30, 2016
Invesco Global Markets Strategy Fund/3/                 September 25, 2012  June 30, 2016
Invesco Global Targeted Returns Fund/4/                 December 17, 2013   June 30, 2016
Invesco International Total Return Fund                    July 1, 2007     June 30, 2016
Invesco Long/Short Equity Fund                          December 17, 2013   June 30, 2016
Invesco Low Volatility Emerging Markets Fund            December 17, 2013   June 30, 2016
Invesco Macro International Equity Fund                 December 17, 2013   June 30, 2016
Invesco Macro Long/Short Fund                           December 17, 2013   June 30, 2016
Invesco Pacific Growth Fund                             February 12, 2010   June 30, 2016
Invesco Premium Income Fund                             December 13, 2011   June 30, 2016
Invesco Select Companies Fund                              July 1, 2007     June 30, 2016
Invesco Strategic Income Fund                              May 2, 2014      June 30, 2016
</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, 2016
Invesco Global Real Estate Fund                           July 1, 2007     June 30, 2016
Invesco High Yield Fund                                   July 1, 2007     June 30, 2016
Invesco Limited Maturity Treasury Fund                    July 1, 2007     June 30, 2016
Invesco Money Market Fund                                 July 1, 2007     June 30, 2016
Invesco Real Estate Fund                                  July 1, 2007     June 30, 2016
Invesco Short Term Bond Fund                              July 1, 2007     June 30, 2016
Invesco U.S. Government Fund                              July 1, 2007     June 30, 2016
</TABLE>
--------
/1/  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.
/2/  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.
/3/  Advisory fees to be waived by Invesco for Invesco Global Markets 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 V, Ltd. invests.
/4/  Advisory fees to be waived by Invesco for Invesco Global Targeted Returns
     Fund also include advisory fees that Invesco receives on the Uninvested
     Cash from the Affiliated Money Market Fund in which Invesco Cayman
     Commodity Fund VII, Ltd. invests.

<PAGE>

                    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, 2016
Invesco Comstock Fund                                   February 12, 2010  June 30, 2016
Invesco Energy Fund                                       July 1, 2007     June 30, 2016
Invesco Dividend Income Fund                              July 1, 2007     June 30, 2016
Invesco Gold & Precious Metals Fund                       July 1, 2007     June 30, 2016
Invesco Mid Cap Growth Fund                             February 12, 2010  June 30, 2016
Invesco Small Cap Value Fund                            February 12, 2010  June 30, 2016
Invesco Technology Fund                                   July 1, 2007     June 30, 2016
Invesco Technology Sector Fund                          February 12, 2010  June 30, 2016
Invesco Value Opportunities Fund                        February 12, 2010  June 30, 2016
</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, 2016
Invesco Intermediate Term Municipal Income Fund         February 12, 2010  June 30, 2016
Invesco Municipal Income Fund                           February 12, 2010  June 30, 2016
Invesco New York Tax Free Income Fund                   February 12, 2010  June 30, 2016
Invesco Tax-Exempt Cash Fund                              July 1, 2007     June 30, 2016
Invesco Tax-Free Intermediate Fund                        July 1, 2007     June 30, 2016
</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  June 30, 2016
Invesco V.I. American Value Fund                        February 12, 2010  June 30, 2016
Invesco V.I. Balanced-Risk Allocation Fund/5/           December 22, 2010  June 30, 2016
Invesco V.I. Comstock Fund                              February 12, 2010  June 30, 2016
Invesco V.I. Core Equity Fund                             July 1, 2007     June 30, 2016
Invesco V.I. Diversified Dividend Fund                  February 12, 2010  June 30, 2016
Invesco V.I. Diversified Income Fund                      July 1, 2007     June 30, 2016
Invesco V.I. Equally-Weighted S&P 500 Fund              February 12, 2010  June 30, 2016
Invesco V.I. Equity and Income Fund                     February 12, 2010  June 30, 2016
Invesco V.I. Global Core Equity Fund                    February 12, 2010  June 30, 2016
Invesco V.I. Global Health Care Fund                      July 1, 2007     June 30, 2016
Invesco V.I. Global Real Estate Fund                      July 1, 2007     June 30, 2016
Invesco V.I. Government Securities Fund                   July 1, 2007     June 30, 2016
Invesco V.I. Growth and Income Fund                     February 12, 2010  June 30, 2016
Invesco V.I. High Yield Fund                              July 1, 2007     June 30, 2016
Invesco V.I. International Growth Fund                    July 1, 2007     June 30, 2016
Invesco V.I. Managed Volatility Fund                      July 1, 2007     June 30, 2016
Invesco V.I. Mid Cap Core Equity Fund                     July 1, 2007     June 30, 2016
Invesco V.I. Mid Cap Growth Fund                        February 12, 2010  June 30, 2016
Invesco V.I. Money Market Fund                            July 1, 2007     June 30, 2016
Invesco V.I. S&P 500 Index Fund                         February 12, 2010  June 30, 2016
Invesco V.I. Small Cap Equity Fund                        July 1, 2007     June 30, 2016
Invesco V.I. Technology Fund                              July 1, 2007     June 30, 2016
Invesco V.I. Managed Volatility Fund                      July 1, 2007     June 30, 2016
Invesco V.I. Value Opportunities Fund                     July 1, 2007     June 30, 2016
</TABLE>

/5/  Advisory fees to be waived by Invesco for Invesco V.I. 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 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  June 30, 2016
</TABLE>

                           INVESCO MANAGEMENT TRUST

<TABLE>
<CAPTION>
FUND                                                     EFFECTIVE DATE COMMITTED UNTIL
----                                                     -------------- ---------------
<S>                                                      <C>            <C>
Invesco Conservative Income Fund                              TBD        June 30, 2016
</TABLE>

                               CLOSED-END FUNDS

<TABLE>
<CAPTION>
FUND                                                    EFFECTIVE DATE COMMITTED UNTIL
----                                                    -------------- ---------------
<S>                                                     <C>            <C>
Invesco Municipal Income Opportunities Trust             June 1, 2010   June 30, 2016
Invesco Quality Municipal Income Trust                   June 1, 2010   June 30, 2016
Invesco Value Municipal Income Trust                     June 1, 2010   June 30, 2016
</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 Management Trust, 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 MANAGEMENT TRUST
       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 July 1, 2014


                         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, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2013      June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2013      June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2013      June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2013      June 30, 2015
   Class R6 Shares                                 Contractual     1.75%      July 1, 2013      June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2013      June 30, 2015

Invesco California Tax-Free Income Fund
   Class A Shares                                  Contractual     1.50%      July 1, 2012      June 30, 2015
   Class B Shares                                  Contractual     2.00%      July 1, 2012      June 30, 2015
   Class C Shares                                  Contractual     2.00%      July 1, 2012      June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2012      June 30, 2015

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, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012      June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012      June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2012      June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012   June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012      June 30, 2015

Invesco Equity and Income Fund
   Class A Shares                                  Contractual     1.50%      July 1, 2012      June 30, 2015
   Class B Shares                                  Contractual     2.25%      July 1, 2012      June 30, 2015
   Class C Shares                                  Contractual     2.25%      July 1, 2012      June 30, 2015
   Class R Shares                                  Contractual     1.75%      July 1, 2012      June 30, 2015
   Class R5 Shares                                 Contractual     1.25%      July 1, 2012      June 30, 2015
   Class R6 Shares                                 Contractual     1.25%   September 24, 2012   June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2012      June 30, 2015

Invesco Floating Rate Fund
   Class A Shares                                  Contractual     1.50%     April 14, 2006     June 30, 2015
   Class C Shares                                  Contractual     2.00%     April 14, 2006     June 30, 2015
   Class R Shares                                  Contractual     1.75%     April 14, 2006     June 30, 2015
   Class R5 Shares                                 Contractual     1.25%     April 14, 2006     June 30, 2015
   Class R6 Shares                                 Contractual     1.25%   September 24, 2012   June 30, 2015
   Class Y Shares                                  Contractual     1.25%    October 3, 2008     June 30, 2015

Invesco Global Real Estate Income Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2009      June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009      June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009      June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009      June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012   June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009      June 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A.

                                       3

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF    EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT         DATE
----                                               ------------ ---------- ------------------ --------------
<S>                                                <C>          <C>        <C>                <C>
Invesco Growth and Income Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2012    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015

Invesco Low Volatility Equity Yield Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015
   Investor Class Shares                           Contractual     2.00%      July 1, 2012    June 30, 2015

Invesco Pennsylvania Tax Free Income Fund
   Class A Shares                                  Contractual     1.50%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2012    June 30, 2015

Invesco S&P 500 Index Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015

Invesco Small Cap Discovery Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015

Invesco Strategic Real Return Fund
   Class A Shares                                  Contractual     0.78%     April 30, 2014   April 30, 2015
   Class C Shares                                  Contractual     1.53%     April 30, 2014   April 30, 2015
   Class R Shares                                  Contractual     1.03%     April 30, 2014   April 30, 2015
   Class R5 Shares                                 Contractual     0.53%     April 30, 2014   April 30, 2015
   Class R6 Shares                                 Contractual     0.53%     April 30, 2014   April 30, 2015
   Class Y Shares                                  Contractual     0.53%     April 30, 2014   April 30, 2015
</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, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class S Shares                                  Contractual     1.90%   September 25, 2009 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009    June 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A.

                                       4

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                                               ------------ ---------- ------------------ -------------
<S>                                                <C>          <C>        <C>                <C>
Invesco Diversified Dividend Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2013    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2013    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2013    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2013    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2013    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%      July 1, 2013    June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2013    June 30, 2015
   Investor Class Shares                           Contractual     2.00%      July 1, 2013    June 30, 2015

Invesco Summit Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class P Shares                                  Contractual     1.85%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009    June 30, 2015
   Class S Shares                                  Contractual     1.90%   September 25, 2009 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009    June 30, 2015
</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, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2009    June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015

Invesco Global Core Equity Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2013    June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2013    June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2013    June 30, 2015
   Class R Shares                                  Contractual     2.50%      July 1, 2013    June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2013    June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2013    June 30, 2015

Invesco International Small Company Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2009    June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2009    June 30, 2015
   Class R6 Shares                                 Contractual     2.00%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015

Invesco Small Cap Equity Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009    June 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A.

                                       5

<PAGE>

                                                             as of July 1, 2014


                   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 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

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
</TABLE>

See page 15 for footnotes to Exhibit A.

                                       6

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF    EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT         DATE
----                                               ------------ ---------- ------------------ --------------
<S>                                                <C>          <C>        <C>                <C>
Invesco Conservative Allocation Fund
   Class A Shares                                  Contractual     1.50%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%      July 1, 2012    June 30, 2015
   Class S Shares                                  Contractual     1.40%      July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2012    June 30, 2015

Invesco Convertible Securities Fund
   Class A Shares                                  Contractual     1.50%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%      July 1, 2012    June 30, 2015
   Class R6 Shares                                 Contractual     1.25%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2012    June 30, 2015

Invesco Global Low Volatility Equity Yield Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2009    June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2009    June 30, 2015
   Class R Shares                                  Contractual     2.50%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2009    June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015

Invesco Growth Allocation Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2012    June 30, 2015
   Class S Shares                                  Contractual     1.90%      July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015

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, 2015
   Class B Shares                                  Contractual     3.00%      May 1, 2012     June 30, 2015
   Class C Shares                                  Contractual     3.00%      May 1, 2012     June 30, 2015
   Class R Shares                                  Contractual     2.50%      May 1, 2012     June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      May 1, 2012     June 30, 2015
   Class Y Shares                                  Contractual     2.00%      May 1, 2012     June 30, 2015

Invesco Mid Cap Core Equity Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009    June 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A.

                                       7

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                                               ------------ ---------- ------------------ -------------
<S>                                                <C>          <C>        <C>                <C>
Invesco Moderate Allocation Fund
   Class A Shares                                  Contractual     1.50%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%      July 1, 2012    June 30, 2015
   Class S Shares                                  Contractual     1.40%      July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2012    June 30, 2015

Invesco Small Cap Growth Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009    June 30, 2015
   Investor Class Shares                           Contractual     2.00%      July 1, 2009    June 30, 2015

Invesco U.S. Mortgage Fund
   Class A Shares                                  Contractual     1.50%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%      July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2012    June 30, 2015
</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, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2009      June 30, 2015

Invesco European Growth Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2009      June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class R Shares                                  Contractual     2.50%      July 1, 2009      June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2009      June 30, 2015
   Investor Class Shares                           Contractual     2.25%      July 1, 2009      June 30, 2015

Invesco Global Growth Fund
   Class A Shares                                  Contractual     2.25%    January 1, 2013     June 30, 2015
   Class B Shares                                  Contractual     3.00%    January 1, 2013     June 30, 2015
   Class C Shares                                  Contractual     3.00%    January 1, 2013     June 30, 2015
   Class R5 Shares                                 Contractual     2.00%    January 1, 2013     June 30, 2015
   Class R6 Shares                                 Contractual     2.00%    January 1, 2013     June 30, 2015
   Class Y Shares                                  Contractual     2.00%    January 1, 2013     June 30, 2015

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
</TABLE>

See page 15 for footnotes to Exhibit A.

                                       8

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF     EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT          DATE
----                                               ------------ ---------- ------------------ -----------------
<S>                                                <C>          <C>        <C>                <C>
Invesco Global Small & Mid Cap Growth Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2009      June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2009      June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2009      June 30, 2015

Invesco International Core Equity Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2009      June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class R Shares                                  Contractual     2.50%      July 1, 2009      June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2009      June 30, 2015
   Class R6 Shares                                 Contractual     2.00%   September 24, 2012   June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2009      June 30, 2015
   Investor Class Shares                           Contractual     2.25%      July 1, 2009      June 30, 2015

Invesco International Growth Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2013      June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2013      June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2013      June 30, 2015
   Class R Shares                                  Contractual     2.50%      July 1, 2013      June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2013      June 30, 2015
   Class R6 Shares                                 Contractual     2.00%      July 1, 2013      June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2013      June 30, 2015

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, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012      June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012      June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2012      June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2012      June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012   June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012      June 30, 2015

Invesco Balanced-Risk Commodity Strategy Fund/4/
   Class A Shares                                  Contractual     2.00%      July 1, 2014      June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2014      June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2014      June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2014      June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2014      June 30, 2015
   Class R6 Shares                                 Contractual     1.75%      July 1, 2014      June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2014      June 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A.

                                       9

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF     EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT          DATE
----                                               ------------ ---------- ------------------ -----------------
<S>                                                <C>          <C>        <C>                <C>
Invesco China Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2009      June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2009      June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2009      June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2009      June 30, 2015

Invesco Developing Markets Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2012      June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2012      June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2012      June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2012      June 30, 2015
   Class R6 Shares                                 Contractual     2.00%   September 24, 2012   June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2012      June 30, 2015

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, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009      June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009      June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2009      June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009      June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012   June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009      June 30, 2015

Invesco Global Health Care Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2012      June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012      June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012      June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012      June 30, 2015
   Investor Class Shares                           Contractual     2.00%      July 1, 2012      June 30, 2015

Invesco Global Infrastructure Fund
   Class A Shares                                  Contractual     1.40%      May 2, 2014       May 31, 2015
   Class C Shares                                  Contractual     2.15%      May 2, 2014       May 31, 2015
   Class R Shares                                  Contractual     1.65%      May 2, 2014       May 31, 2015
   Class Y Shares                                  Contractual     1.15%      May 2, 2014       May 31, 2015
   Class R5 Shares                                 Contractual     1.15%      May 2, 2014       May 31, 2015
   Class R6 Shares                                 Contractual     1.15%      May 2, 2014       May 31, 2015

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
</TABLE>

See page 15 for footnotes to Exhibit A.

                                      10

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF     EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT          DATE
----                                               ------------ ---------- ------------------ -----------------
<S>                                                <C>          <C>        <C>                <C>
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/6/
   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

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
</TABLE>

See page 15 for footnotes to Exhibit A.

                                      11

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF     EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT          DATE
----                                               ------------ ---------- ------------------ -----------------
<S>                                                <C>          <C>        <C>                <C>
Invesco Pacific Growth Fund
   Class A Shares                                  Contractual     2.25%      July 1, 2012      June 30, 2015
   Class B Shares                                  Contractual     3.00%      July 1, 2012      June 30, 2015
   Class C Shares                                  Contractual     3.00%      July 1, 2012      June 30, 2015
   Class R Shares                                  Contractual     2.50%      July 1, 2012      June 30, 2015
   Class R5 Shares                                 Contractual     2.00%      July 1, 2012      June 30, 2015
   Class Y Shares                                  Contractual     2.00%      July 1, 2012      June 30, 2015

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, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009      June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009      June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2009      June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009      June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009      June 30, 2015

Invesco Strategic Income Fund
   Class A Shares                                  Contractual     0.82%      May 2, 2014       May 31, 2015
   Class C Shares                                  Contractual     1.57%      May 2, 2014       May 31, 2015
   Class R Shares                                  Contractual     1.07%      May 2, 2014       May 31, 2015
   Class Y Shares                                  Contractual     0.57%      May 2, 2014       May 31, 2015
   Class R5 Shares                                 Contractual     0.57%      May 2, 2014       May 31, 2015
   Class R6 Shares                                 Contractual     0.57%      May 2, 2014       May 31, 2015
</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, 2015
   Class B Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%      July 1, 2012    June 30, 2015
   Class R6 Shares                                 Contractual     1.25%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2012    June 30, 2015

Invesco Global Real Estate Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009    June 30, 2015

Invesco High Yield Fund
   Class A Shares                                  Contractual     1.50%      July 1, 2013    June 30, 2015
   Class B Shares                                  Contractual     2.25%      July 1, 2013    June 30, 2015
   Class C Shares                                  Contractual     2.25%      July 1, 2013    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%      July 1, 2013    June 30, 2015
   Class R6 Shares                                 Contractual     1.25%      July 1, 2013    June 30, 2015
   Class Y Shares                                  Contractual     1.25%      July 1, 2013    June 30, 2015
   Investor Class Shares                           Contractual     1.50%      July 1, 2013    June 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A.

                                      12

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE    EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION    CURRENT LIMIT        DATE
----                                               ------------ ----------  ------------------ -------------
<S>                                                <C>          <C>         <C>                <C>
Invesco Limited Maturity Treasury Fund
   Class A Shares                                  Contractual     1.50%       July 1, 2012    June 30, 2015
   Class A2 Shares                                 Contractual     1.40%       July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%       July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.25%       July 1, 2012    June 30, 2015

Invesco Real Estate Fund
   Class A Shares                                  Contractual     2.00%       July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.75%       July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.75%       July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     2.25%       July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%       July 1, 2012    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%    September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.75%       July 1, 2012    June 30, 2015
   Investor Class Shares                           Contractual     2.00%       July 1, 2012    June 30, 2015

Invesco Short Term Bond Fund
   Class A Shares                                  Contractual     1.40%       July 1, 2013    June 30, 2015
   Class C Shares                                  Contractual     1.75%/2/    July 1, 2013    June 30, 2015
   Class R Shares                                  Contractual     1.75%       July 1, 2013    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%       July 1, 2013    June 30, 2015
   Class R6 Shares                                 Contractual     1.25%       July 1, 2013    June 30, 2015
   Class Y Shares                                  Contractual     1.25%       July 1, 2013    June 30, 2015

Invesco U.S. Government Fund
   Class A Shares                                  Contractual     1.50%       July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.25%       July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.25%       July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     1.75%       July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.25%       July 1, 2012    June 30, 2015
   Class Y Shares                                  Contractual     1.25%       July 1, 2012    June 30, 2015
   Investor Class Shares                           Contractual     1.50%       July 1, 2012    June 30, 2015
</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, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2013    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2013    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2013    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2013    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%      July 1, 2013    June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2013    June 30, 2015

Invesco Comstock Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2012    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2012    June 30, 2015
   Class R Shares                                  Contractual     2.25%      July 1, 2012    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2012    June 30, 2015
   Class R6 Shares                                 Contractual     1.75%   September 24, 2012 June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2012    June 30, 2015

Invesco Energy Fund
   Class A Shares                                  Contractual     2.00%      July 1, 2009    June 30, 2015
   Class B Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class C Shares                                  Contractual     2.75%      July 1, 2009    June 30, 2015
   Class R5 Shares                                 Contractual     1.75%      July 1, 2009    June 30, 2015
   Class Y Shares                                  Contractual     1.75%      July 1, 2009    June 30, 2015
   Investor Class Shares                           Contractual     2.00%      July 1, 2009    June 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A.

                                      13

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                                               ------------ ---------- ----------------- ---------------
<S>                                                <C>          <C>        <C>               <C>
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 Dividend Income Fund
   Class A Shares                                  Contractual     1.14%   September 1, 2014 August 31, 2015
   Class B Shares                                  Contractual     1.89%   September 1, 2014 August 31, 2015
   Class C Shares                                  Contractual     1.89%   September 1, 2014 August 31, 2015
   Class R5 Shares                                 Contractual     0.89%   September 1, 2014 August 31, 2015
   Class R6 Shares                                 Contractual     0.89%   September 1, 2014 August 31, 2015
   Class Y Shares                                  Contractual     0.89%   September 1, 2014 August 31, 2015
   Investor Class Shares                           Contractual     1.14%   September 1, 2014 August 31, 2015

Invesco Gold & Precious Metals Fund
   Class A Shares                                  Contractual     2.00%     July 1, 2009     June 30, 2015
   Class B Shares                                  Contractual     2.75%     July 1, 2009     June 30, 2015
   Class C Shares                                  Contractual     2.75%     July 1, 2009     June 30, 2015
   Class Y Shares                                  Contractual     1.75%     July 1, 2009     June 30, 2015
   Investor Class Shares                           Contractual     2.00%     July 1, 2009     June 30, 2015

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

Invesco Small Cap Value Fund
   Class A Shares                                  Contractual     2.00%     July 1, 2012     June 30, 2015
   Class B Shares                                  Contractual     2.75%     July 1, 2012     June 30, 2015
   Class C Shares                                  Contractual     2.75%     July 1, 2012     June 30, 2015
   Class Y Shares                                  Contractual     1.75%     July 1, 2012     June 30, 2015

Invesco Technology Fund
   Class A Shares                                  Contractual     2.00%     July 1, 2012     June 30, 2015
   Class B Shares                                  Contractual     2.75%     July 1, 2012     June 30, 2015
   Class C Shares                                  Contractual     2.75%     July 1, 2012     June 30, 2015
   Class R5 Shares                                 Contractual     1.75%     July 1, 2012     June 30, 2015
   Class Y Shares                                  Contractual     1.75%     July 1, 2012     June 30, 2015
   Investor Class Shares                           Contractual     2.00%     July 1, 2012     June 30, 2015

Invesco Technology Sector Fund
   Class A Shares                                  Contractual     2.00%   February 12, 2010  June 30, 2015
   Class B Shares                                  Contractual     2.75%   February 12, 2010  June 30, 2015
   Class C Shares                                  Contractual     2.75%   February 12, 2010  June 30, 2015
   Class Y Shares                                  Contractual     1.75%   February 12, 2010  June 30, 2015

Invesco Value Opportunities Fund
   Class A Shares                                  Contractual     2.00%     July 1, 2012     June 30, 2015
   Class B Shares                                  Contractual     2.75%     July 1, 2012     June 30, 2015
   Class C Shares                                  Contractual     2.75%     July 1, 2012     June 30, 2015
   Class R Shares                                  Contractual     2.25%     July 1, 2012     June 30, 2015
   Class R5 Shares                                 Contractual     1.75%     July 1, 2012     June 30, 2015
   Class Y Shares                                  Contractual     1.75%     July 1, 2012     June 30, 2015
</TABLE>

See page 15 for footnotes to Exhibit A.

                                      14

<PAGE>

                                                             as of July 1, 2014


                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, 2015
   Class B Shares                                     Contractual     2.25%     July 1, 2012    June 30, 2015
   Class C Shares                                     Contractual     2.25%     July 1, 2012    June 30, 2015
   Class R5 Shares                                    Contractual     1.25%     July 1, 2012    June 30, 2015
   Class Y Shares                                     Contractual     1.25%     July 1, 2012    June 30, 2015

Invesco Intermediate Term Municipal Income Fund
   Class A Shares                                     Contractual     0.80%     July 1, 2013    June 30, 2015
   Class B Shares                                     Contractual     1.55%     July 1, 2013    June 30, 2015
   Class C Shares                                     Contractual     1.55%     July 1, 2013    June 30, 2015
   Class Y Shares                                     Contractual     0.55%     July 1, 2013    June 30, 2015

Invesco Municipal Income Fund
   Class A Shares                                     Contractual     1.50%     July 1, 2013    June 30, 2015
   Class B Shares                                     Contractual     2.25%     July 1, 2013    June 30, 2015
   Class C Shares                                     Contractual     2.25%     July 1, 2013    June 30, 2015
   Class Y Shares                                     Contractual     1.25%     July 1, 2013    June 30, 2015
   Investor Class                                     Contractual     1.50%     July 15, 2013   June 30, 2015

Invesco New York Tax Free Income Fund
   Class A Shares                                     Contractual     1.50%     July 1, 2012    June 30, 2015
   Class B Shares                                     Contractual     2.25%     July 1, 2012    June 30, 2015
   Class C Shares                                     Contractual     2.25%     July 1, 2012    June 30, 2015
   Class Y Shares                                     Contractual     1.25%     July 1, 2012    June 30, 2015

Invesco Tax-Free Intermediate Fund
   Class A Shares                                     Contractual     1.50%     July 1, 2012    June 30, 2015
   Class A2 Shares                                    Contractual     1.25%     July 1, 2012    June 30, 2015
   Class C Shares                                     Contractual     2.25%     June 30, 2013   June 30, 2015
   Class R5 Shares                                    Contractual     1.25%     July 1, 2012    June 30, 2015
   Class Y Shares                                     Contractual     1.25%     July 1, 2012    June 30, 2015
</TABLE>

                           INVESCO MANAGEMENT TRUST

<TABLE>
<CAPTION>
                                                      CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF  EXPIRATION
FUND                                                   VOLUNTARY   LIMITATION   CURRENT LIMIT       DATE
----                                                  ------------ ---------- ----------------- -------------
<S>                                                   <C>          <C>        <C>               <C>
Invesco Conservative Income Fund
   Institutional Class                                Contractual     0.28%     June 26, 2014   June 30, 2015
</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.
/6/  Includes waived fees or reimbursed expenses that Invesco receives from
     Invesco Cayman Commodity Fund VII, Ltd.

                                      15

<PAGE>

                                                             as of July 1, 2014


              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 July 1, 2014


                    EXHIBIT "C" - VARIABLE INSURANCE FUNDS

        AIM VARIABLE INSURANCE FUNDS (INVESCO VARIABLE INSURANCE FUNDS)

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                                               ------------ ---------- ----------------- --------------
<S>                                                <C>          <C>        <C>               <C>
Invesco V.I. American Franchise Fund
   Series I Shares                                 Contractual     2.00%     July 1, 2014    June 30, 2015
   Series II Shares                                Contractual     2.25%     July 1, 2014    June 30, 2015

Invesco V.I. American Value Fund
   Series I Shares                                 Contractual     2.00%     July 1, 2012    June 30, 2015
   Series II Shares                                Contractual     2.25%     July 1, 2012    June 30, 2015

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, 2015
   Series II Shares                                Contractual     2.25%     May 1, 2013     June 30, 2015

Invesco V.I. Diversified Dividend Fund
   Series I Shares                                 Contractual     2.00%     May 1, 2013     June 30, 2015
   Series II Shares                                Contractual     2.25%     May 1, 2013     June 30, 2015

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, 2015
   Series II Shares                                Contractual     2.25%     July 1, 2012    June 30, 2015

Invesco V.I. Equity and Income Fund
   Series I Shares                                 Contractual     1.50%     July 1, 2012    June 30, 2015
   Series II Shares                                Contractual     1.75%     July 1, 2012    June 30, 2015

Invesco V.I. Global Core Equity Fund
   Series I Shares                                 Contractual     2.25%     July 1, 2012    June 30, 2015
   Series II Shares                                Contractual     2.50%     July 1, 2012    June 30, 2015
</TABLE>

/1/  Includes waived fees or reimbursed expenses that Invesco receives from
     Invesco Cayman Commodity Fund IV, Ltd.

                                      17

<PAGE>

                                                             as of July 1, 2014

<TABLE>
<CAPTION>
                                                   CONTRACTUAL/  EXPENSE   EFFECTIVE DATE OF   EXPIRATION
FUND                                                VOLUNTARY   LIMITATION   CURRENT LIMIT        DATE
----                                               ------------ ---------- ----------------- --------------
<S>                                                <C>          <C>        <C>               <C>
Invesco V.I. Global Health Care Fund
   Series I Shares                                 Contractual     2.00%       May 1, 2013    June 30, 2015
   Series II Shares                                Contractual     2.25%       May 1, 2013    June 30, 2015

Invesco V.I. Global Real Estate Fund
   Series I Shares                                 Contractual     2.00%       May 1, 2013    June 30, 2015
   Series II Shares                                Contractual     2.25%       May 1, 2013    June 30, 2015

Invesco V.I. Government Securities Fund
   Series I Shares                                 Contractual     1.50%       May 1, 2013    June 30, 2015
   Series II Shares                                Contractual     1.75%       May 1, 2013    June 30, 2015

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     1.50%       May 1, 2014    June 30, 2015
   Series II Shares                                Contractual     1.75%       May 1, 2014    June 30, 2015

Invesco V.I. International Growth Fund
   Series I Shares                                 Contractual     2.25%      July 1, 2012    June 30, 2015
   Series II Shares                                Contractual     2.50%      July 1, 2012    June 30, 2015

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. Mid Cap Core Equity Fund
   Series I Shares                                 Contractual     2.00%       May 1, 2013    June 30, 2015
   Series II Shares                                Contractual     2.25%       May 1, 2013    June 30, 2015

Invesco V.I. Mid Cap Growth Fund
   Series I Shares                                 Contractual     2.00%      July 1, 2014    June 30, 2015
   Series II Shares                                Contractual     2.25%      July 1, 2014    June 30, 2015

Invesco V.I. Money Market Fund
   Series I Shares                                 Contractual     1.50%       May 1, 2013    June 30, 2015
   Series II Shares                                Contractual     1.75%       May 1, 2013    June 30, 2015

Invesco V.I. S&P 500 Index Fund
   Series I Shares                                 Contractual     2.00%      July 1, 2012    June 30, 2015
   Series II Shares                                Contractual     2.25%      July 1, 2012    June 30, 2015
</TABLE>

                                      18

<PAGE>

                                                             as of July 1, 2014

<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, 2015
   Series II Shares                                Contractual     2.25%      May 1, 2013    June 30, 2015

Invesco V.I. Technology Fund
   Series I Shares                                 Contractual     2.00%      May 1, 2013    June 30, 2015
   Series II Shares                                Contractual     2.25%      May 1, 2013    June 30, 2015

Invesco V.I. Value Opportunities Fund
   Series I Shares                                 Contractual     2.00%      May 1, 2013    June 30, 2015
   Series II Shares                                Contractual     2.25%      May 1, 2013    June 30, 2015
</TABLE>

                                      19

<PAGE>

                                                             as of July 1, 2014


                        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 Opportunities Trust       Contractual     0.67%    August 27, 2012  August 31, 2014
</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 Income Trust             Contractual     0.50%   October 15, 2012  October 31, 2014
</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 Income Trust               Contractual     0.46%   October 15, 2012  October 31, 2014
</TABLE>

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