Navellier Management, Inc. 920 Incline Way Incline Village, NV 89450Navellier Performance Funds • February 7th, 1996
Since the inception of operations of The Navellier Performance Funds (the "Fund"), Navellier Management, Inc. (the "Adviser"), has paid the operating expenses of the Fund without requiring reimbursement from the Fund. The purpose of this letter is to obtain an acknowledgment from the Fund that (i) the Adviser has been under no obligation to pay such operating expenses, and (ii) the Adviser is under no obligation to continue to pay the Fund's operating expenses now or in the future.
