MEMORANDUM OF AGREEMENT
This Memorandum of Agreement is entered into as of this 31st day of
March, 2006, between AIM Investment Funds (the "Trust"), on behalf of the funds
listed on Exhibit "A" to this Memorandum of Agreement (the "Funds"), and A I M
Advisors, Inc. ("AIM"). AIM shall and hereby agrees to waive fees or reimburse
expenses of each Fund, on behalf of its respective classes as applicable,
severally and not jointly, as indicated in the attached exhibits.
For and in consideration of the mutual terms and agreements set forth
herein and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Trust and AIM agree as follows:
The Trust and AIM agree until the date set forth on the attached Exhibit
"A" ( the "Expiration Date") that AIM will waive its fees or reimburse expenses
to the extent that expenses (excluding (i) interest; (ii) taxes; (iii) dividend
expense on short sales; (iv) extraordinary items; (v) expenses related to a
merger or reorganization, as approved by the Funds' Board of Trustees; and (vi)
expenses that each Fund has incurred but did not actually pay because of an
expense offset arrangement) of a class of a Fund exceed the rate, on an
annualized basis, set forth on Exhibit "A" of the average daily net assets
allocable to such class. The Board of Trustees and AIM may terminate or modify
this Memorandum of Agreement prior to the Expiration Date only by mutual written
consent. AIM will not have any right to reimbursement of any amount so waived or
reimbursed.
The Trust and AIM agree to review the then-current waivers or expense
limitations for each class of each Fund listed on Exhibit "A" on a date prior to
the Expiration Date to determine whether such waivers or limitations should be
amended, continued or terminated. The waivers or expense limitations will expire
upon the Expiration Date unless the Trust and AIM have agreed to continue them.
Exhibit "A" will be amended to reflect any such agreement.
It is expressly agreed that the obligations of the Trust hereunder shall
not be binding upon any of the Trustees, shareholders, nominees, officers,
agents or employees of the Trust personally, but shall only bind the assets and
property of each Fund, as provided in the Trust's Agreement and Declaration of
Trust. The execution and delivery of this Memorandum of Agreement have been
authorized by the Trustees of the Trust, and this Memorandum of Agreement has
been executed and delivered by an authorized officer of the 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 the Trust's
Agreement and Declaration of Trust.
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IN WITNESS WHEREOF, the Trust and AIM have entered into this Memorandum of
Agreement as of the date first above written.
AIM INVESTMENT FUNDS,
on behalf of the Funds listed in Exhibit "A"
to this Memorandum of Agreement
By: ____________________________________
Title: ____________________________________
A I M Advisors, Inc.
By: ____________________________________
Title: ____________________________________
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EXHIBIT "A"
AIM INVESTMENT FUNDS
FUND EXPENSE LIMITATION EXPIRATION DATE
---- ------------------ ---------------
AIM China Fund
Class A 2.05% June 30, 2007
Class B 2.80% June 30, 2007
Class C 2.80% June 30, 2007
Institutional Class 1.80% June 30, 2007
June 30, 2007
AIM Enhanced Short Bond Fund
Class A 0.85% June 30, 2007
Class C 1.60% June 30, 2007
Class R 1.10% June 30, 2007
Institutional Class 0.60% June 30, 2007
June 30, 2007
AIM International Bond Fund
Class A 1.10% June 30, 2007
Class B 1.85% June 30, 2007
Class C 1.85% June 30, 2007
Institutional Class 0.85% June 30, 2007
Xxxx 00, 0000
XXX Xxxxx Fund
Class A 1.70% June 30, 2007
Class B 2.45% June 30, 2007
Class C 2.45% June 30, 2007
Institutional Class 1.45% June 30, 2007
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