Parkway Advisors, L.P.

Parkway Advisors charges fees based on assets under management. The fees vary depending on the type of account (institutional fixed income, equity only, individual, 401(k), or mutual fund sub-adviser). Fees are calculated on an incremental basis and are subject to change with 30 days written notice. In certain cases, Parkway may negotiate different fees. The brochure lists fee ranges for institutional fixed income and equity management. For example, fixed income management fees range from 0.50% to 1.00% for assets up to $10 million. Individual management fees are 1.25% up to $1 million and 1.00% over $1 million. 401(k) plan management fees are 0.75% up to $1 million, 0.50% from $1 million to $3 million, and 0.25% over $3 million. Mutual fund sub-adviser fees are 0.50% for all asset levels. A minimum amount is not required to open an account.