April 30, 2007 The Navellier Performance Funds One East Liberty, Third Floor Reno, NV 89501 RE: Investment Adviser Operating Expenses Reimbursement Agreement Gentlemen: Since the inception of operations of the Navellier Performance Funds (the "Fund"),...Investment Adviser Operating Expenses Reimbursement Agreement • May 1st, 2007 • Navellier Performance Funds
Since the inception of operations of the Navellier Performance Funds (the "Fund"), the Investment Adviser has paid the operating expenses of the Fund without requiring full reimbursement from the Fund. The purpose of this letter is to provide an agreement from Navellier & Associates, Inc. (the "Adviser") that the Adviser, while under no prior obligation to do so, has agreed to waive reimbursement of costs and expenses advanced and, if necessary, fees so that the total operating expenses for future years for the Navellier Mid Cap Growth Portfolio do not exceed 1.34%, for the Mid Cap growth - Class I Portfolio do not exceed 0.99%, for the Navellier Aggressive Micro Cap Portfolio do not exceed 1.49% and for the Navellier Fundamental A portfolio do not 1.49%.
