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