0001193125-13-237303 Sample Contracts

INVESTMENT ADVISORY AGREEMENT
Investment Advisory Agreement • May 28th, 2013 • Teton Westwood Funds • New York

INVESTMENT ADVISORY AGREEMENT, dated May 20, 2013, between The TETON Westwood Funds, on behalf of the TETON Westwood Mid-Cap Equity Fund (the “Trust” and the “Fund”, respectively), a Massachusetts business trust, and Teton Advisors, Inc. (the “Adviser”), a Delaware corporation.

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AMENDED AND RESTATED DISTRIBUTION AGREEMENT, dated as of August 1, 2011, between THE TETON WESTWOOD FUNDS (the “Trust”) and
Distribution Agreement • May 28th, 2013 • Teton Westwood Funds

WHEREAS, the Trust, a Massachusetts business trust, is registered as an investment company under the Investment Company Act of 1940 (the “1940 Act”) currently consisting of the series set forth on Exhibit A hereto, as such Exhibit may be revised from time to time (each, a “Fund”), and an indefinite number of shares of its beneficial interest (hereinafter referred to as “shares”) have been registered under the Securities Act of 1933 (the “1933 Act”) to be offered for sale to the public in a continuous public offering in accordance with the terms and conditions set forth in the Trust’s Prospectuses (collectively, the “Prospectus”) and Statement of Additional Information (“SAI”) included in the Trust’s Registration Statement as they may be amended from time to time; and

THE TETON WESTWOOD MID-CAP EQUITY FUND OPERATING EXPENSES LIMITATION AGREEMENT
Operating Expenses Limitation Agreement • May 28th, 2013 • Teton Westwood Funds • New York

THIS OPERATING EXPENSES LIMITATION AGREEMENT (the “Agreement”) is effective as of the 20th day of May, 2013, by and between The TETON Westwood Funds, a Massachusetts business trust (the “Trust”), on behalf of its series, The TETON Westwood Mid-Cap Equity Fund (the “Fund”) and each of the Fund’s classes of shares listed on Appendix A (each, a “Class”), and the Fund’s investment adviser, Teton Advisors, Inc. (the “Adviser”).

PURCHASE AGREEMENT
Purchase Agreement • May 28th, 2013 • Teton Westwood Funds

The TETON Westwood Funds (the “Trust”), a Massachusetts business trust, and Teton Advisors, Inc. (the “Buyer”) hereby agree as follows:

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