0001324443-15-000023 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • February 27th, 2015 • American Independence Funds Trust • Delaware

AGREEMENT made as of this 23rd day of July 2010, between American Independence Financial Services, LLC, a limited liability company organized under the laws of the State of Delaware (the “Adviser“), and American Independence Funds Trust, a business trust organized under the laws of the State of Delaware (the “Trust“).

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INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • February 27th, 2015 • American Independence Funds Trust • New York

AGREEMENT made this 5th day of September, 2014 by and between American Independence Financial Services, LLC (“Adviser”), and Boyd Watterson Asset Management, LLC (“Sub-Adviser");

INVESTMENT SUB-ADVISORY AGREEMENT
Investment Sub-Advisory Agreement • February 27th, 2015 • American Independence Funds Trust

AGREEMENT made this 23rd day of May, 2014 by and between American Independence Financial Services, LLC (the “Adviser”), and Navellier & Associates (the “Sub-Adviser”);

EXPENSE LIMITATION AGREEMENT AMERICAN INDEPENDENCE FUNDS TRUST
Expense Limitation Agreement • February 27th, 2015 • American Independence Funds Trust

EXPENSE LIMITATION AGREEMENT, effective as of March 1, 2015, by and between American Independence Financial Services, LLC (the “Investment Adviser”) and American Independence Funds Trust (the “Trust”), a Delaware business trust, on behalf of each of the funds, listed on Exhibit A (each, a “Fund”).

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