<PAGE>   1

                                                                   EXHIBIT 10.49

                              EMPLOYMENT AGREEMENT

         This Employment Agreement is made and entered into as of the fourth
day of November, 1996 between A I M Management Group Inc., a Delaware
corporation (the "Company"), INVESCO PLC, a public company incorporated under
the laws of England, to be known as AMVESCO PLC following the Merger, as
defined below ("INVESCO"), and Gary T. Crum, a resident of Texas ("Global
Partner").

         WHEREAS, the Company desires to employ Global Partner in accordance
with the terms and conditions hereinafter set forth, and Global Partner desires
to accept employment with the Company on the terms and conditions hereinafter
set forth;

         WHEREAS, pursuant to the Agreement and Plan of Merger among the
Company, INVESCO and INVESCO Group Services Inc., dated as of November 4, 1996
(the "Merger Agreement"), the Company proposes to become a member of a group of
related companies (collectively, the "AMVESCO Group") effective upon a business
combination between INVESCO and the Company through a merger of the Company
into and with a wholly-owned subsidiary of INVESCO (the "Merger");

         WHEREAS, a condition precedent to the Merger is that Global Partner
enter into this Employment Agreement;

         WHEREAS, Global Partner acknowledges that the proprietary customer,
operations, investment, investment technique, financial and business
information that has been learned and will be learned about the business of the
Company and/or the AMVESCO Group could be used to harm the interests of the
Company and/or the AMVESCO Group or compete unfairly with the Company and/or
the AMVESCO Group and could also be of great value to the competitors of the
Company and/or the AMVESCO Group; and

         WHEREAS, Global Partner further acknowledges that such proprietary
customer, operations, investment, investment technique, financial and business
information has been developed and will be developed during the course of
Global Partner's employment with the Company through the expenditure by the
Company or other entities in the AMVESCO Group of substantial effort, time and
money.

         NOW, THEREFORE, for and in consideration of the mutual covenants and
agreements hereinafter set forth and other good and valuable consideration, the
receipt, adequacy and sufficiency of which are hereby acknowledged, the parties
hereto covenant and agree as follows:

         1.      Employment and Duties. (a) Commencing at the effective time of
the Merger (the "Commencement Date"), the Company agrees to employ Global
Partner as
<PAGE>   2
Senior Vice President and Director of Investments of the Company (the
"Employment").  During the term of this Agreement, Global Partner agrees to be
a full-time employee of the Company and INVESCO and to devote full time, energy
and skill to the business of the Company and the AMVESCO Group.

         (b)     Notwithstanding Global Partner's full time Employment, Global
Partner may participate in industry groups such as the ICI and may engage in
personal investment activity (either alone or together with the other Senior
AIM Executives (as defined in Exhibit B. Part I)), charitable work, and,
subject to the prior written approval of the Board of Directors of INVESCO,
other business activity.  Global Partner will not, however, engage in any
business or activity that is competitive with the activity of the Company or
the AMVESCO Group, or will result in any violation of those of the Company's
policies that have been communicated in writing to Global Partner or in a
conflict of interest with the Company and the business of the Company and the
AMVESCO Group or with the duties of the AMVESCO Group to its clients, or
materially affect Global Partner's ability to perform his or her duties under
this Agreement.

         2.      Compensation and Benefits.  Global Partner shall be entitled
during the term of his Employment to the compensation and benefits set forth at
Exhibit A--Part I to this Agreement.  Exhibit A may be amended from time to
time, such amended or replacement Exhibit A to take effect when signed by the
Company, INVESCO and Global Partner.

         3.      Place of Employment.  Global Partner's place of employment
shall be with the Company in Houston, Texas (except for ordinary business
related travel outside of such area).

         4.       Termination of Employment. (a) By the Company without Cause
or By Global Partner on Notice.  Except as provided in this Section and except
as may be agreed to in writing by the parties hereto, (i) Global Partner's
Employment may be terminated by the Company and INVESCO for any reason at any
time prior to the fourth anniversary of the Commencement Date (the "Fourth
Anniversary") effective immediately upon sending notice of such termination by
the Company to Global Partner and (ii) on or after the Fourth Anniversary,
Global Partner's Employment may be terminated by the Company, INVESCO or Global
Partner for any reason effective as of a date one year after receipt of notice
of such termination by the other parties, it being understood that the Company,
INVESCO or Global Partner may deliver such one year's notice of termination
under clause (ii) hereof at any time following the third anniversary of the
Commencement Date.

         (b)     By the Company with Cause.  Subject to Section 4(h) hereof in
the case of a termination pursuant to the following clause (i), the Company and
INVESCO may terminate Global Partner's Employment under this Agreement
immediately by notice in





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writing if at any time during the term of this Agreement, Global Partner: (i)
shall be in continuing material breach, which is not cured within 30 days of
receipt by Global Partner of written notice thereof from the Chief Executive
Officer of INVESCO, of any material term of this Agreement or the written
policies or procedures of the Company or the AMVESCO Group which are applicable
to and made known to Global Partner in writing and which are required by law or
established to maintain compliance with applicable law or the Code of Ethics
applicable to the Individual Services Group (as defined in Exhibit B, Part II
to this Agreement) (the "ISG"); ( ii) shall be guilty of or any act of fraud,
dishonesty, embezzlement, theft, misappropriation or similar conduct or other
financial crime against the AMVESCO Group or any of its constituent companies
or any client of the AMVESCO Group (other then arising by an inadvertent error
in connection with an expense reimbursement by Global Partner); (iii) shall be
convicted of any felony or shall enter a plea of nolo contendere to a felony;
or (iv) shall engage in any act or omission which substantially or materially
violates the requirements or prohibitions of any securities law or any
governmental entity or agency which is not cured within 30 days of receipt by
Global Partner of written notice thereof from the Chief Executive Officer of
INVESCO; provided that any such notice shall be delivered to Global Partner not
more than 60 days after an executive officer of INVESCO (other than Global
Partner) first knows of the occurrence of such event.

         (c)     By Global Partner for Good Reason.  Subject to Section 4(h)
hereof, Global Partner may terminate his Employment hereunder prior to the
Fourth Anniversary for Good Reason which is defined in Exhibit B, Part I to
this Agreement.

         (d)     Termination of Employment Because of Death or Disability.
Global Partner's Employment shall be terminated as a result of his or her death
or, immediately on notice by the Company to such effect, his or her physical or
mental disability due to accident or illness which prevents Global Partner for
a period of six consecutive months, from performing the essential duties of the
position he holds at that time with reasonable accommodation as determined by
INVESCO, based on the advice of a mutually acceptable physician.

         (e)     Payments and Obligations on Termination.  In the event of a
termination of Global Partner's Employment effective at any time prior to the
Fourth Anniversary by the Company or INVESCO, other than pursuant to Section
4(b) or 4(d), or in the event of termination of Global Partner's Employment
effective at any time prior to the Fourth Anniversary by Global Partner
pursuant to Section 4(c), Global Partner shall be entitled to receive continued
payments of his minimum salary and bonus as specified in Exhibit A, Part II
until the later of the Fourth Anniversary or the first anniversary of
termination of Employment and all other obligations of the Company and INVESCO
hereunder (other than those in Section 4(f)) shall terminate immediately.
Global Partner shall be under no obligation to accept any employment during the
period for which Global Partner receives such continued salary and bonus
payments hereunder or to otherwise attempt to mitigate the





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<PAGE>   4
payment of such amounts by the Company and the Company and INVESCO waive any
right to allege that Global Partner has any duty to mitigate the payment of
such amounts.  In the event of a termination of Employment pursuant to Section
4(d), Global Partner (or his or her estate) shall be entitled to receive his or
her minimum salary as set forth in Exhibit A, Part II for a period of three
months following such termination and all other obligations of the Company
hereunder (other than those in Section 4(f)) shall terminate immediately.  In
the event of any other termination of Employment, all obligations of the
Company and INVESCO (other than those in Section 4(f)) shall immediately
terminate on the effective date of such termination.  In the event of any
termination of Employment (other than due to the death of Global Partner), the
obligations of Global Partner under Sections 5, 6, 7, 8 and 9 hereof shall
continue in full force and effect for the period specified in each such
Section.  In the event of a termination of the Employment by Global Partner for
Good Reason pursuant to Section 4(c), the Global Partner shall have the right
to terminate all (but not less than all) of his rights and obligations under
the Voting Agreement (as defined Exhibit B, Part I) as of the effective date of
such termination of Global Partner's employment, such right to expire if not
exercised within 60 days following the effective date of such termination of
employment.

         (f)     Other Payments.  Any unpaid salary that has accrued through
the date on which Employment is terminated will be paid to Global Partner upon
the termination date or, if Global Partner has given notice of such
termination, on the next regular pay date.  Any unpaid bonuses which were
awarded prior to the date of termination of Employment will be paid within a
reasonable time.  In the event of any termination of Global Partner's
Employment pursuant to Section 4(a), Section 4(c) or Section 4(d), any unpaid
deferred bonuses which were awarded prior to the date of termination of
Employment will be paid within a reasonable time.  In the event of a
termination under Section 4(d) disability or death benefits paid under any
insurance plan which may be maintained by the Company or INVESCO for Global
Partner will be paid to Global Partner or his estate.  Following a notice of
termination of Employment, the parties may, but are not obligated to, enter
into an agreement establishing transition compensation and employee obligations
which differ from those provided by this Agreement.

         (g)     Options. This Agreement does not pertain to or modify any
option plan or option agreement.

         (h)     Certain Procedures.

         (i)     Termination by Global Partner.  In the event that Global 
Partner asserts that he has the right to terminate the  Employment for Good 
Reason pursuant to Section 4(c), the following procedures shall apply:

         (A)     Global Partner will deliver written notice thereof to the
         Company and to INVESCO, Attention: Chief Executive Officer, setting
         forth in reasonable





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         detail the facts and circumstances Global Partner believes provide the
         basis for such termination.

         (B)     Such notice will constitute a request by Global Partner that
         an arbitration proceeding be initiated pursuant to Section 9(b) of
         this Agreement to determine whether, in fact, Global Partner has the
         right to terminate the Employment for Good Reason.

         (C)     Notwithstanding any other provision of this Agreement or any
         Exhibit hereto, until the entry of a final judgment by a court of
         competent jurisdiction as contemplated by Section 9(b) confirming that
         Global Partner, in fact, has the right to terminate the Employment for
         Good Reason, the parties hereto acknowledge and agree that Global
         Partner's Employment shall not be deemed terminated pursuant to
         Section 4(a) or 4(c).

         (ii) Termination by the Company and/or INVESCO.  In the event that the
Company and/or INVESCO asserts that it has the right to terminate the
Employment for Cause pursuant to clause (i) of Section 4(b), the following
procedures shall apply:

         (A)     The Company and/or INVESCO, as the case may be, will deliver
         written notice thereof to Global Partner, setting forth in reasonable
         detail the facts and circumstances the Company and/or INVESCO believes
         provide the basis for such termination.

         (B)     Such notice will constitute a request by the Company and/or
         INVESCO that an arbitration proceeding be initiated pursuant to
         Section 9(b) of this Agreement to determine whether, in fact, the
         Company and/or INVESCO has the right to terminate the Employment for
         Cause.

         (C)     Notwithstanding any other provision of this Agreement or any
         Exhibit hereto, until the entry of a final judgment by a court of
         competent jurisdiction as contemplated by Section 9(b) confirming that
         the Company and/or INVESCO, in fact, has the right to terminate the
         Employment for Cause, the parties hereto acknowledge and agree that
         Global Partner's Employment shall not be deemed terminated pursuant to
         Section 4(a), 4(b) or 4(c).

         (iii)   Global Partner agrees that pending the conclusion of any
arbitration initiated pursuant to Section 4(h)(i) or 4(h)(ii) and the entry of
a final judgment by a court of competent jurisdiction as contemplated by
Section 9(b), Global Partner will continue to carry out the duties of his
Employment as set forth herein.  In addition, Global Partner, the Company and
INVESCO each agree to use all reasonable efforts such that the pending
disagreement between Global Partner and the Company and





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<PAGE>   6
INVESCO will not adversely impact the business or operations of the Company or 
INVESCO or their respective employment, client or other business relationships,
including, without limitation, reasonable efforts to keep the fact of such
disagreement and the subject matter thereof as confidential as possible in the
circumstances.

         5.      Confidentiality.  Global Partner agrees that both during the
term of this Agreement and after the termination of this Agreement, Global
Partner will hold in a fiduciary capacity for the benefit of the Company, and
will not directly or indirectly use or disclose (except as authorized in
writing by the Company) any "Confidential Information," as defined hereafter.
The term "Confidential Information" as used in this Agreement shall mean and
include any information, data and know-how relating to the business of the
Company or any member of the AMVESCO Group that is disclosed to Global Partner
by the Company (or a member of the AMVESCO Group) or known by him as a result
of his relationship with the Company or any member of the AMVESCO Group and not
generally within the public domain including, but not limited to, all
intellectual property and proprietary research developed by and/or known to
Global Partner during his Employment with the AMVESCO Group (including the
Company).  The term "Confidential Information" does not include information
that has become generally available to the public by act of one who has the
right to disclose such information through presentation or otherwise without
violating any right of the Company, any member of the AMVESCO Group or the
client to which such information pertains.

         6.      Right to Material: Return of Material.  Global Partner agrees
that all records, files, memoranda, data in machine readable form, reports, fee
lists, customer lists, drawings, plans, sketches, documents and the like,
relating to the business of the Company or any member of the AMVESCO Group,
including, but not limited to, all intellectual property and proprietary
research which Global Partner shall use, or develop or come in contact with in
the course of or as the result of his employment with the Company or any member
of the AMVESCO Group shall remain the sole property of the Company and/or the
AMVESCO Group (as the case may be).

         Upon termination of Global Partner's employment with the Company or
INVESCO for any reason, Global Partner will deliver promptly to the Company all
materials, documents, plans, records, notes, drawings, designs or papers, in
whatever recorded form, and any copies thereof in Global Partner's possession
or control relating in any way to the business of the Company and/or the
AMVESCO Group, which at all times shall be the property of the Company.  Global
Partner shall certify to the Company that any such data in machine readable
form has been removed from any computer personally owned by Global Partner and
all back up copies made by Global Partner have been destroyed.

         7.      Work for Hire Acknowledgment, Assignment. Global Partner
acknowledges that all of Global Partner's work on and contributions to the
business of the





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Company and/or the AMVESCO Group, including, without limitation, any and all
investment decisions, models, processes and methodology or any other
contribution to such business (such as quantitative models, designs, artwork
and other expressions in any recorded form) (collectively, the "Works") are
within the scope of Global Partner's employment and are a part of the services,
duties and responsibilities of Global Partner.  All of Global Partner's work on
and contributions to the Works will be rendered and made by Global Partner for,
at the instigation of, and under the overall direction of the Company, and all
of Global Partner's said work and contributions, as well as the Works, are and
at all times shall be regarded as "work made for hire" as that term is used in
the United States Copyright Laws.  Global Partner also acknowledges that
investment decisions are a result of the Company's effort and the performance
or other "track" record of any mutual fund or other account is a result of the
Company effort and is the property of the Company and not of Global Partner.
Without curtailing or limiting these acknowledgments, Global Partner hereby
assigns, grants and delivers exclusively to the Company all rights, titles and
interests in and to any such Works, and all copies and versions, including all
copyrights and renewals.  At any time upon request by the Company, Global
Partner will execute and deliver to the Company, or its successors and assigns,
such other and further assignments, instruments and documents as the Company
(or such successors or assigns) from time to time reasonably may request for
the purpose of establishing, registering, evidencing, and enforcing or
defending its complete, exclusive, perpetual and worldwide ownership of all
rights, tides, interests and copyrights, in and to the Works, and Global
Partner hereby constitutes and appoints the Company as his agent and
attorney-in-fact, with full power of substitution, to execute and deliver such
assignments, instruments or documents as Global Partner may fail or refuse to
execute and deliver, this power and agency being coupled with an interest and
being irrevocable.

         8.      No Solicitation and Non-Competition.  Global Partner will not,
(i) in the case of a termination of Global Partner's Employment for any reason
effective as of a date prior to the Fourth Anniversary, at any time prior to
the later of (x) the Fourth Anniversary or (y) the second anniversary of the
termination of Global Partner's Employment pursuant to this Agreement or (ii)
in the case of a termination of Global Partner's Employment for any reason
effective as of a date after the Fourth Anniversary, at any time prior to the
first anniversary of the date a notice of termination of Global Partner's
Employment is delivered pursuant to Section 4 of this Agreement, in any such
case, without the express prior written consent of the Board of Directors of
the Company and INVESCO, directly or indirectly, either engage in or
participate in or invest in or assist, as owner, part-owner, shareholder (in
the case of any publicly traded company, ownership of any equity interest
exceeding 2.5%), partner, principal, director, officer, trustee, employee,
agent or consultant, or in any other capacity, any planned or existing firm,
corporation, or other business organization (other than the Company and INVESCO
(or any subsidiary of the Company or INVESCO) and any foundation established by
any AIM Senior Officer which engages in any of the following (except that
Global Partner shall be permitted, on his own behalf or on behalf of any new





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<PAGE>   8
business organization established by Global Partner, either alone or together
with those other AIM Senior Officers who are then no longer employed by the
Company or any member of the AMVESCO Group, to manage the investment of his own
personal assets and the assets of such other AIM Senior Officers, together with
up to an aggregate of $100 million in assets of any other person or entity):

                          (a)     the business of furnishing investment advice
                 to Investment Companies (as that term is defined in the
                 Investment Company Act of 1940, as amended) in the United
                 States;

                          (b)     the business of furnishing investment
                 advisory or management services to clients other than
                 Investment Companies in the United States;

                          (c)     assisting any Investment Company with which
                 the ISG has or ever (whether before or after the date hereof)
                 had any investment advisory or management agreement (each a
                 "Fund") or any other present or past client of the ISG (a
                 "Client") in internalizing the investment management or
                 investment advisory function or any other function or service
                 provided by the ISG to any such Fund or Client, subject to
                 Global Partner's fiduciary duty owed to any of the Funds or
                 the directors or trustees thereof;

                          (d)     being a party to any contractual or business
                 relationship with any Fund or Client involving services
                 related to investment management or investment advisory
                 services, if such related services are also provided by the
                 ISG or by any other person at the ISG's direction to any Fund
                 or Client;

                          (e)     soliciting, offering to employ or employing,
                 directly or indirectly, in any capacity any person who is or
                 was (at any time after the date hereof) was a director,
                 officer, trustee, partner, employee or client of the ISG, any
                 member of the AMVESCO Group or of any of the Funds or inducing
                 any such person to sever his or her relationship therewith or
                 to establish a relationship with any other person;

                          (f)     soliciting or otherwise attempting to
                 establish, directly or indirectly, for himself or any other
                 person, firm or entity any business relationship involving or
                 relating to the provision of investment management or advisory
                 services with any firm, corporation or other business
                 organization who is or ever (whether before or after the date
                 hereof) was a customer or client of the Company or any member
                 of the AMVESCO Group; or

                          (g)     authorizing or knowingly approving the taking
                 of any action set forth in clauses (c) through (f) above by
                 any other person.





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<PAGE>   9
         9.       Remedies. (a) The parties acknowledge that a breach or threat
to breach any of the terms of this Agreement by Global Partner would result in
material and irreparable damage and injury to the Company and INVESCO, and that
it would be difficult or impossible to establish the full monetary value of
such damage.  Therefore, in addition to any other rights or remedies that the
Company or any member of the AMVESCO Group may have at law or in equity, the
Company and the AMVESCO Group shall be entitled to injunctive relief by a court
of appropriate jurisdiction in the event of Global Partner's breach or
threatened breach of any of the terms contained in this Agreement.  In the
event of any breach or threatened breach of this Agreement by Global Partner,
if the Company or any member of the AMVESCO Group should employ attorneys or
incur other expenses for the enforcement of any obligation or agreement of
Global Partner contained herein and shall prevail, Global Partner shall
reimburse the Company or such member, as the case may be, for its reasonable
attorneys' fees and such other expenses so incurred.  If Global Partner employs
attorneys or incurs other expenses in connection with the defense of any action
for injunctive relief hereunder and Global Partner prevails, the Company shall
reimburse Global Partner for his reasonable attorneys' fees and such other
expenses so incurred.

         (b)     The Company and Global Partner agree to submit to final and
binding arbitration any and all disputes, claims (whether in tort, contract,
statutory or otherwise) and/or disagreements concerning the interpretation or
application of this Agreement, the Global Partner's Employment by the Company
and INVESCO and/or the termination of this Agreement and/or the Global
Partner's Employment by the Company and INVESCO.  Any such dispute, claim
and/or disagreement shall be resolved by arbitration, by a mutually acceptable
arbitrator, in accordance with the Commercial Arbitration Rules of the American
Arbitration Association (the "AAA").  If, within 30 days of the initiation of
an arbitration hereunder, the parties cannot agree on a mutually acceptable
arbitrator, each party will designate an arbitrator pursuant to Rule 14 of the
AAA Rules.  The appointed arbitrators shall appoint a neutral arbitrator from
the panel in the manner prescribed in Rule 13 of the AAA Rules.  The
Arbitrators shall apply the law of Texas.  All meetings of the Arbitrators
shall be held in Houston, Texas.  Global Partner and the Company agree that the
decision of the arbitrators selected hereunder shall be final and binding on
both parties.  This arbitration provision is expressly made pursuant to and
shall be governed by the Federal Arbitration Act, 9 U.S.C. Sections 1-14.  The
Parties hereto agree that, pursuant to Section 9 of the Federal Arbitration
Act, a judgment of the United States District Court for the Southern District
of Texas, Houston Division, shall be entered upon the award made pursuant to
the arbitration provision.  The provisions of this Section 9(b) do not apply to
actions brought by the Company or any member of the AMVESCO Group for
injunctive or other equitable relief under Section 9(a) in respect of claims
under Sections 4, 5, 6, 7, 8 or 9(b).

         10.     Assignments.  The terms and provisions of this Agreement shall
inure to the benefit of and be binding upon the Company, INVESCO and any of
their respective successors and assigns, and upon Global Partner and his heirs
and personal representatives.





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<PAGE>   10
The parties hereto specifically acknowledge and agree that, in connection with
the assignment of the assets of the Company to Newco Sub (as defined in the
Merger Agreement) immediately following the consummation of the Merger, this
Agreement will be assigned to Newco Sub.

         11.     Applicable Law.  This Agreement has been entered into in and
shall be governed by and construed under the internal laws of the state of
Texas.

         12.     Notice. Any notice required or permitted to be given pursuant
to this Agreement shall be deemed sufficiently given when delivered in person
or when deposited in the United States mail or by Federal Express or similar
overnight delivery service or by telecopy or fax.

         13.     Term.  The parties hereto agree that Global Partner's
Employment shall commence on the effective date of the Merger and shall
continue until it is terminated (a) by the Company or INVESCO pursuant to
Section 4 (a)(i) or 4(b); (b) due to death or disability pursuant to Section
4(d); (c) subject to Section 4(h), by Global Partner on 60 days prior written
notice to the Company and INVESCO pursuant to Section 4(c); or (4) effective as
of a date on or after the Fourth Anniversary, by the Company, INVESCO or Global
Partner pursuant to Section 4(a)( ii) .

         14.     Non-waiver.  The failure of the Company, INVESCO or Global
Partner to insist upon strict performance of the terms of this Agreement or to
exercise any option herein, shall not be construed as a waiver or a
relinquishment in the future of such term or option, but that the same shall
continue in full force and effect.

         15.     Interpretation; Severability of Invalid Provisions.  All
rights and restrictions contained in this Agreement may be exercised and shall
be applicable and binding only to the extent that they do not violate any
applicable laws and are intended to be limited to the extent necessary so that
they will not render this Agreement illegal, invalid or unenforceable.  If any
term of this Agreement shall be held to be illegal, invalid or unenforceable by
a court of competent jurisdiction, the remaining terms shall remain in full
force and effect.  The provisions of this Agreement do not in any way limit or
abridge the Company's or INVESCO's rights under the laws of unfair competition,
trade secret, copyright, patent, trademark or any other applicable law(s), all
of which are in addition to and cumulative of the Company's and INVESCO's
rights under this Agreement.  The existence of any claim by Global Partner
against the Company or INVESCO, whether predicated on this Agreement or
otherwise, shall not constitute a defense to enforcement by the Company or
INVESCO of any or all of such provision or covenants.

         16.      Entire Agreement.  This Agreement constitutes the entire
agreement between the Company, INVESCO and Global Partner with respect to the
subject matter, and





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supersedes any prior agreement or understanding with respect to the subject
matter hereof, including, without limitation, any existing employment agreement
between Global Partner and the Company or any affiliate thereof.





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<PAGE>   12

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed under seal as of the day and year first above written.

                                         A I M Management Group Inc.
                                         
                                         By: CHARLES T. BAUER                 
                                             -----------------------------------
                                         Title: Chairman and CEO              
                                               ---------------------------------

                                         INVESCO PLC                          

                                         By: Illegible                         
                                            ------------------------------------
                                         Title: COMPANY SECRETARY             
                                               ---------------------------------

                                         Global Partner                       
                                                                              
                                          GARY T. CRUM                        
                                         ---------------------------------------
                                          Gary T. Crum
<PAGE>   13
                                   EXHIBIT A
                               To Agreement among

                                  Gary T. Crum

                          A I M Management Group Inc.

                                      and

                                  INVESCO PLC

      I.    Regular Compensation and Benefits.  As basic compensation for the
services of Global Partner, the Company shall pay Global Partner an initial
base salary of $310,000 per annum, subject to withholdings pursuant to
applicable law or regulation, and payable in accordance with the payment
practices adopted by the Company.  The base salary shall be reviewed by the
Company annually, and the rate thereof may be adjusted upward upon such review.
During the term of Employment, Global Partner shall be entitled to receive the
following benefits:

                  (i)        Group hospitalization, major medical, long-term
                             disability and life insurance coverage to the
                             extent such coverage is available to other
                             personnel of the Company in comparable positions
                             with and having duties comparable to those of the
                             Global Partner and such other insurance coverage
                             as is similarly available;

                  (ii)       Participation in any bonus or profit sharing plan
                             or pension that the Company makes generally
                             available to its key employees; and

                  (iii)      Such vacation, holidays, and other paid or unpaid
                             leaves of absence  as the Company's Board of
                             Directors may approve.

      The Company and INVESCO agree to reimburse Global Partner for all
reasonable expenses incurred by him on behalf of the Company of INVESCO, as the
case may be, and Global Partner acknowledges that work beyond the standard
working hours may be necessary consistent with past practices.  The combined
amount of base salary and cash bonus attributable to any one year shall be at
least the total amount set forth in II of this Exhibit A.
<PAGE>   14
      II.   Minimum Compensation. Global Partner's Minimum Compensation 
(calendar year basis) shall be:


                        Salary        $310,000
                        Bonus         $300,000


                The above amount will be pro-rated for any partial year on a
daily basis.





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<PAGE>   15

                               EXHIBIT B - PART I

                                  GOOD REASON

Subject to compliance with the procedures and covenants contained in Section
4(h)(i) and 4(h)(iii) of the Agreement, Good Reason shall mean the occurrence
of any of the following events that (i) is not otherwise agreed to in writing
by at least a majority of the AIM Designees, as defined in the Voting
Agreement, dated as of November 4, 1996, by and among INVESCO, the Shareholders
(as defined in such Voting Agreement), the members of the INVESCO Board of
Directors as of the date of such Voting Agreement listed on the signature page
thereto and the Original Designees, as defined in such Voting Agreement, listed
on the signature page thereto (the "Voting Agreement") and (ii) except as
specified otherwise below, is not cured by the Company or INVESCO within 60
days following its receipt of written notice from Global Partner thereof:

      1.    Without Global Partner's express written consent, the assignment to
            him by INVESCO or by the Company at the direction of INVESCO of any
            material duties that are inconsistent with his positions, duties,
            responsibilities and status as set forth in Section 1 of the
            Agreement, or a material diminishment by INVESCO or by the Company
            at the direction of INVESCO of his responsibilities, which change
            or inconsistency is not cured by the Company or INVESCO within 30
            days following its receipt of written notice from Global Partner
            specifying such change or inconsistency.

      2.    Without Global Partner's express written consent, any requirement
            of INVESCO or of the Company at the direction of INVESCO that
            Global Partner be based outside the Houston metropolitan area or
            perform a substantial portion of his services hereunder at any
            location or locations other than the Houston metropolitan area
            (except for ordinary business related travel outside of such area),
            which requirement is not rescinded by the Company or INVESCO within
            30 days following its receipt of notice from Global Partner
            specifying the requirement.

      3.    The Company's or INVESCO's wilful and material breach of any of the
            provisions of this Agreement, which breach is not cured by the
            Company or INVESCO within 30 days following its receipt of written
            notice from Global Partner specifying the breach.

      4.    Any change by INVESCO of the corporate name of the Company or any
            of the Company's existing subsidiaries.
<PAGE>   16
      5.    Any wilful breach by INVESCO of the portion of Section 3.2.9 of the
            Agreement and Plan of Merger among the Company, INVESCO and INVESCO
            Group Services Inc., dated as of November 4, 1996, relating to the
            change of the name of INVESCO PLC to AMVESCO PLC.

      6.    If for any reason other than his death, disability or resignation
            or other separation from employment, prior to the Fourth
            Anniversary, Charles T. Bauer is not nominated to be Vice Chairman
            of the Board of INVESCO.

      7.    If, prior to the Fourth Anniversary, INVESCO causes more than one
            person to serve simultaneously as Vice Chairman of the Board of
            INVESCO.

      8.    If, as a result of any act or failure to act of INVESCO, the ISG
            management committee fails to constitute one of the two management
            committees of INVESCO or there are more than two management
            committees of INVESCO.

      9.    If INVESCO causes the chief executive of any business within the
            ISG to report directly to any person other than one or more of
            Robert H. Graham, Charles T. Bauer, Gary Crum and Michael Cemo (or
            such of them who are employed by the Company or INVESCO at the
            relevant time (the "AIM Senior Officers")) or a designee thereof or
            causes any principal executive officer of any such business to
            report directly to any person other than the chief executive of
            such business.

      10.   If at any time INVESCO precludes the AIM Senior Officers from
            appointing two members of the other management committee of
            INVESCO.

      11.   If INVESCO precludes the AIM Senior Officers from determining the
            composition and number of members of the ISG Management Committee
            (other than in respect of 2 non-ISG officers of INVESCO who may be
            appointed by the INVESCO Designees (as defined in the Voting
            Agreement)).

      12.   If INVESCO precludes the management committee of the ISG from (i)
            managing the daily operations of the businesses of the ISG,
            including without limitation, trading risk, credit risk,
            information technology, internal audit, client business decisions
            and infrastructure decisions, or (ii) except to the extent
            duplicative of professional or other service providers retained by
            INVESCO to represent or advise the AMVESCO Group, selecting
            professional advisors and other similar service providers for the
            constituent businesses, it being understood that the responsibility
            of the management committee of the ISG for daily operations of the
            ISG shall be exercised in a manner consistent with the business and
            strategic plans set by the INVESCO Board of Directors





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<PAGE>   17
            and the policies and procedures of INVESCO approved by the Board
            applicable generally to all members of the AMVESCO Group.

      13.   If INVESCO causes the employment of any other AIM Senior Officer to
            be involuntarily terminated without Cause.





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<PAGE>   18

                              APPENDIX B - PART II

                           INDIVIDUAL SERVICES GROUP

      The primary geographic area of ISG's operations will be North America,
provided ISG will not be precluded from organizing offshore funds, from
distributing its products offshore or from entering into joint ventures
offshore e.g.  Pakistan, it being understood that any such activities shall be
undertaken only in a manner consistent with the business plan of INVESCO as
approved by the Board of Directors of INVESCO.

      To the extent any existing North American entity within the AMVESCO Group
operates in businesses covered by the ISG as well as other members of the
AMVESCO Group, such entities shall establish appropriate dual reporting or
similar mechanisms to facilitate reporting to the appropriate division.

      The businesses reporting to the ISG are the businesses operated by the
Company as of the date hereof and all businesses operated by INVESCO or its
subsidiaries which are part of the INVESCO Individual Services Group as of the
date hereof (collectively, the "ISG Companies") and any other company hereafter
formed or acquired which engages in the business of the type engaged in by the
ISG Companies as of the date hereof.





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