Statement of Additional Info - Gabelli

finance distribution activities on behalf of other Gabelli/GAMCO funds and a portion of the payments by such other
funds may be used to finance distribution activities on behalf of the Funds. The Plans are intended to benefit the Funds,
among other things, by increasing its assets and thereby reducing the Funds’ expense ratio. The Independent Trustees
have concluded that there is a reasonable likelihood that the Plans will benefit these classes and their respective
shareholders.
Under its terms, each Plan remains in effect so long as its continuance is specifically approved at least annually by vote of
the Funds’ Board, including a majority of the Independent Trustees. No Plan may be amended to materially increase the
amount to be spent for services provided by the Distributor thereunder without shareholder approval, and all material
amendments of any Plan must also be approved by the Board in the manner described above. Each Plan may be
terminated at any time, without penalty, by vote of a majority of the Independent Trustees, or by a vote of a majority of
the outstanding voting securities of the Funds (as defined in the 1940 Act). Under each Plan, the Distributor will provide
the Trustees with periodic reports of amounts expended under such Plan and the purpose for which such expenditures
were made.
Pursuant to each Plan, the Board will review at least quarterly a written report of the distribution expenses incurred on
behalf of each class of shares of the Funds by the Distributor. The report includes an itemization of the distribution
expenses and the purposes of such expenditures. In addition, as long as the Plans remain in effect, the selection and
nomination of Independent Trustees shall be limited to the Independent Trustees.
The Trust has entered into an Amended and Restated Distribution Agreement (the “Distribution Agreement”) with the
Distributor authorizing payments to the Distributor at the following annual rates, based on each Fund's average daily net
assets:
Share Class
Rule 12b-1
Distribution Fees (as
a percentage of
average daily
net assets)
Service Fees
(as a percentage of
average daily
net assets)
TETON Westwood Mighty Mites
Fund Class AAA 0.25% N/A
Class A 0.50% N/A
Class C 0.75% 0.25%
Class I N/A N/A
TETON Westwood SmallCap
Equity Fund Class AAA 0.25% N/A
Class A 0.50% N/A
Class C 0.75% 0.25%
Class I N/A N/A
TETON Westwood Mid-Cap Equity
Fund Class AAA 0.25% N/A
Class A 0.50% N/A
Class C 0.75% 0.25%
Class I N/A N/A
TETON Westwood Income Fund Class AAA 0.25% N/A
Class A 0.50% N/A
Class C 0.75% 0.25%
Class I N/A N/A
TETON Westwood Equity Fund Class AAA 0.25% N/A
Class A 0.50% N/A
Class C 0.75% 0.25%
Class I N/A N/A
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