AMENDMENT NO. 3

                                       TO

                      MASTER INVESTMENT ADVISORY AGREEMENT

      This Amendment dated as of May 1, 2008, amends the Master Investment
Advisory Agreement (the "Agreement"), dated November 25, 2003, between AIM
International Mutual Funds, a Delaware statutory trust, and Invesco Aim
Advisors, Inc., formerly A I M Advisors, Inc., a Delaware corporation.

                              W I T N E S S E T H:

      WHEREAS, the parties desire to amend the Agreement to change the name of
AIM Global Aggressive Growth Fund to AIM Global Small & Mid Cap Growth Fund.

      NOW, THEREFORE, the parties agree as follows;

      1.    Appendix A and Appendix B to the Agreement are hereby deleted in
            their entirety and replaced with the following:

                                   "APPENDIX A
                            FUNDS AND EFFECTIVE DATES



NAME OF FUND                               EFFECTIVE DATE OF ADVISORY AGREEMENT
--------------------------------------     ------------------------------------
                                        
AIM Asia Pacific Growth Fund                       November 25, 2003

AIM European Growth Fund                           November 25, 2003

AIM Global Growth Fund                             November 25, 2003

AIM Global Small & Mid Cap Growth Fund             November 25, 2003

AIM International Core Equity Fund                 November 25, 2003

AIM International Growth Fund                      November 25, 2003




                                   APPENDIX B
                           COMPENSATION TO THE ADVISOR

      The Trust shall pay the Advisor, out of the assets of a Fund, as full
compensation for all services rendered, an advisory fee for such Fund set forth
below. Such fee shall be calculated by applying the following annual rates to
the average daily net assets of such Fund for the calendar year computed in the
manner used for the determination of the net asset value of shares of such Fund.

                          AIM ASIA PACIFIC GROWTH FUND
                            AIM EUROPEAN GROWTH FUND
                          AIM INTERNATIONAL GROWTH FUND



NET ASSETS                               ANNUAL RATE
--------------------------------------   -----------
                                      
First $250 million....................      0.935%
Next $250 million.....................       0.91%
Next $500 million.....................      0.885%
Next $1.5 billion.....................       0.86%
Next $2.5 billion.....................      0.835%
Next $2.5 billion.....................       0.81%
Next $2.5 billion.....................      0.785%
Over $10 billion......................       0.76%


                             AIM GLOBAL GROWTH FUND
                     AIM GLOBAL SMALL & MID CAP GROWTH FUND



NET ASSETS                               ANNUAL RATE
--------------------------------------   -----------
                                      
First $250 million....................      0.80%
Next $250 million.....................      0.78%
Next $500 million.....................      0.76%
Next $1.5 billion.....................      0.74%
Next $2.5 billion.....................      0.72%
Next $2.5 billion.....................      0.70%
Next $2.5 billion.....................      0.68%
Over $10 billion......................      0.66%


                       AIM INTERNATIONAL CORE EQUITY FUND



NET ASSETS                               ANNUAL RATE
--------------------------------------   -----------
                                      
First $500 million....................       0.75%
Next $500 million.....................       0.65%
From $1 billion.......................       0.55%
From $2 billion.......................       0.45%
From $4 billion.......................       0.40%
From $6 billion.......................      0.375%
From $8 billion.......................       0.35%"


                                       2




      2.    In all other respects, the Agreement is hereby confirmed and remains
            in full force and effect.

      IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
by their respective officers on the date first written above.

                                          AIM INTERNATIONAL MUTUAL FUNDS


Attest: /s/ Stephen R. Rimes              By: /s/ John M. Zerr
        ----------------------------          -------------------------------
            Assistant Secretary                   John M. Zerr
                                                  Senior Vice President

(SEAL)

                                          INVESCO AIM ADVISORS, INC.

Attest: /s/ Stephen R. Rimes              By: /s/ John M. Zerr
        ----------------------------          -------------------------------
            Assistant Secretary                   John M. Zerr
                                                  Senior Vice President

(SEAL)

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