DRAFT----Advisors' Inner Circle Fund III • July 25th, 2018
Re: Agreement and Plan of Reorganization, dated as of [●], 2018 (the “Agreement”), between and among (i) The Advisors’ Inner Circle Fund III, a Delaware statutory trust (“Acquiring Trust”), on behalf of its series, BNP Paribas AM U.S. Inflation-Linked Bond Fund (“Acquiring Fund”); (ii) American Independence Funds Trust, a Delaware statutory trust (the “Target Trust”), on behalf of its series, American Independence U.S. Inflation-Protected Fund (“Target Fund”); (iii) solely for the purposes of Sections 4.3, 5.12, and 9.1 of the Agreement, BNP Paribas Asset Management USA, Inc. (“BNP”); and (iv) solely for the purposes of Sections 4.4, 5.12, 9.1 and 11.2 of the Agreement, Manifold Fund Advisors, LLC (“Manifold”).
