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<p class=MsoTitle align=left style='text-align:left'>As filed with the
Securities and Exchange Commission on May 18, 2010</p>

<div style='border:none;border-bottom:solid windowtext 1.5pt;padding:0in 0in 1.0pt 0in'>

<p class=MsoTitle align=right style='text-align:right;border:none;padding:0in'>Registration
No. 333-</p>

</div>



<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center"><b>Washington, D.C.&nbsp; 20549</b></p>

<p class=MsoTitle align="center"><b>_____________________</b></p>



<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center"><b>FORM S-8</b></p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center"><b>REGISTRATION STATEMENT UNDER</b></p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center"><b>THE SECURITIES ACT OF 1933</b></p>

<p class=MsoTitle align="center"><b>_____________________</b></p>



<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center"><b>PARKWAY PROPERTIES, INC.</b></p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">(Exact Name of Registrant as
Specified in its Charter)</p>
<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="left">&nbsp;</p>



<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle>Maryland</p>
  <p class=MsoTitle>(State or Other
  Jurisdiction of Incorporation or Organization)</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle>74-2123597</p>
  <p class=MsoTitle>(I.R.S. Employer
  Identification No.)</p>
  </td>
 </tr>
</table>



<p class="MsoTitle">&nbsp;</p>



<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">One Jackson Place, Suite
1000</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">188 East Capitol Street</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">Jackson, Mississippi 39201</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">(Address of Principal
Executive Offices, including Zip Code)</p>

<p class=MsoTitle align="center">_____________________</p>



<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">Parkway Properties, Inc.
2010 Omnibus Equity Incentive Plan</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">(Full Title of the Plan)</p>

<p class=MsoTitle align="center">_____________________</p>



<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">Steven G. Rogers, Chief
Executive Officer and President</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">One Jackson Place, Suite
1000</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">188 East Capitol Street</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">Jackson, Mississippi &nbsp;39201</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">(Name and Address of Agent
for Service)</p>
<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">&nbsp;</p>



<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">(601) 948-4091</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">(Telephone Number, Including
Area Code, of Agent for Service)</p>

<p class=MsoTitle align="center">_____________________</p>



<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">Copy to:</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">Michael C. Donlon, Esq.</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">Jaeckle Fleischmann &amp;
Mugel, LLP</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">12 Fountain Plaza</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">Buffalo, New York&nbsp; 14202</p>

<p class=MsoTitle style="margin-top: 0; margin-bottom: 0" align="center">(716) 856-0600</p>

<p class=MsoTitle align="center">_____________________</p>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

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clear=all style='page-break-before:always'>










<p class=MsoTitle align=left style='text-align:left; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, </p>
<p class=MsoTitle align=left style='text-align:left; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; or a smaller reporting
company. &nbsp;See definitions of &quot;large accelerated filer,&quot; &quot;accelerated filer&quot; and
&quot;smaller reporting </p>
<p class=MsoTitle align=left style='text-align:left; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; company&quot; in Rule 12b-2 of the Exchange Act. </p>
<p class=MsoTitle align=left style='text-align:left; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Check one): </p>
<p class=MsoTitle align=left style='text-align:left; margin-top:0; margin-bottom:0'>&nbsp;</p>



<p class=MsoTitle style='margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Large accelerated filer &nbsp;[&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accelerated
filer &nbsp;[X]</p>

<p class=MsoTitle align=left style='text-align:left; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Non-accelerated filer&nbsp; [&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; Smaller
reporting company&nbsp; [&nbsp; ]</p>

<p class=MsoTitle align=left style='text-align:left; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Do not check if a smaller reporting company)</p>



<p class=MsoTitle><b>CALCULATION OF REGISTRATION FEE</b></p>



<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=624
 style='border-collapse:collapse'>
 <tr>
  <td width=163 valign=bottom style='width:1.7in;padding:0in 5.4pt 0in 5.4pt'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p class=MsoNormal align=center style='text-align:center;border:none;
  padding:0in'>Title of Securities to be Registered</p>
  </div>
  </td>
  <td width=115 valign=bottom style='width:1.2in;padding:0in 5.4pt 0in 5.4pt'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p class=MsoNormal align=center style='text-align:center;border:none;
  padding:0in'>Amount to be Registered</p>
  </div>
  </td>
  <td width=115 valign=bottom style='width:1.2in;padding:0in 5.4pt 0in 5.4pt'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p class=MsoNormal align=center style='text-align:center;border:none;
  padding:0in'>Proposed Maximum Offering Price Per Share (1)</p>
  </div>
  </td>
  <td width=115 valign=bottom style='width:1.2in;padding:0in 5.4pt 0in 5.4pt'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p class=MsoNormal align=center style='text-align:center;border:none;
  padding:0in'>Proposed Maximum Aggregate Offering Price (1)</p>
  </div>
  </td>
  <td width=115 valign=bottom style='width:1.2in;padding:0in 5.4pt 0in 5.4pt'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 1.0pt 0in'>
  <p class=MsoNormal align=center style='text-align:center;border:none;
  padding:0in'>Amount of Registration Fee</p>
  </div>
  </td>
 </tr>
 <tr style='height:22.5pt'>
  <td width=163 valign=bottom style='width:1.7in;padding:0in 5.4pt 0in 5.4pt;
  height:22.5pt'>
  <p class=MsoNormal>Common Stock, $0.001 par value per share&nbsp; (2)</p>
  </td>
  <td width=115 valign=bottom style='width:1.2in;padding:0in 5.4pt 0in 5.4pt;
  height:22.5pt'>
  <p class=MsoNormal align=center style='text-align:center'>600,000</p>
  </td>
  <td width=115 valign=bottom style='width:1.2in;padding:0in 5.4pt 0in 5.4pt;
  height:22.5pt'>
  <p class=MsoNormal align=center style='text-align:center'>$18.055</p>
  </td>
  <td width=115 valign=bottom style='width:1.2in;padding:0in 5.4pt 0in 5.4pt;
  height:22.5pt'>
  <p class=MsoNormal align=center style='text-align:center'>$10,833,000</p>
  </td>
  <td width=115 valign=bottom style='width:1.2in;padding:0in 5.4pt 0in 5.4pt;
  height:22.5pt'>
  <p class=MsoNormal align=center style='text-align:center'>$772</p>
  </td>
 </tr>
</table>



<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p>
<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Determined in accordance with
Rule 457(c) and 457(h)(1) under the Securities Act of 1933 </p>
<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; based on the average
of the high and low reported sales prices of the Common Stock on the </p>
<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; New York
Stock Exchange on May 17, 2010.</p>
<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;</p>

<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Rule 416(a) under
the Securities Act of 1933, as amended, this Registration Statement </p>
<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; also covers
an indeterminate number of additional shares that may be offered and issued to
prevent </p>
<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; dilution resulting from stock splits, stock dividends or similar
transactions as provided in the Parkway </p>
<p class=MsoTitle align=left style='margin-left:1.0in;text-align:left;
text-indent:-.5in; margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Properties, Inc. 2010 Omnibus Equity
Incentive Plan.</p>

<p class=MsoTitle>______________________________________________________________________________</p>



<div class=MsoNormal align=center style='text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

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<b><br
clear=all style='page-break-before:always'>
</b>











<p class=MsoTitle><b>EXPLANATORY NOTE</b></p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; This Registration Statement on Form S-8 is being filed to
register 600,000 shares of common stock, par value $0.001 per share (&quot;Common
Stock&quot;), of Parkway Properties, Inc. which have been reserved for issuance under
the Parkway Properties, Inc. 2010 Omnibus Equity Incentive Plan. </p>



<p class=MsoTitle><b>PART I</b></p>

<p class=MsoTitle align=left style='text-align:left'><u>&nbsp;</u></p>

<p class=MsoTitle><b>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</b></p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The documents containing the information specified in Part
I will be sent or given to participants in the plan described herein as
specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the &quot;Securities
Act&quot;).&nbsp; In accordance with the instructions to Part I of Form S-8, such
documents will not be filed with the Securities and Exchange Commission (the &quot;Commission&quot;)
either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 of the Securities Act.&nbsp; These documents and
the documents incorporated by reference pursuant to Item 3 of Part II of this
Registration Statement, taken together, constitute the prospectus as required
by Section 10(a) of the Securities Act.</p>



<p class=MsoTitle><b>PART II</b></p>



<p class=MsoTitle><b>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</b></p>



<p class=MsoTitle align=left style='text-align:left'><b>Item 3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Incorporation
of Documents by Reference.</b></p>



<p class=MsoTitle align=left style='text-align:left;text-indent:.5in'>Parkway Properties, Inc. (the &quot;Registrant&quot; or &quot;Parkway&quot;)
hereby incorporates by reference into this Registration Statement the following
documents filed by it with the Commission:</p>



<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-.5in'>&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
our Annual Report on Form 10-K
for the year ended December 31, 2009;</p>

<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-.5in'>&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
our Quarterly Report on Form
10-Q for the period ended March 31, 2010;</p>

<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-.5in'>&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
our Current Reports on Form 8-K
filed with the SEC on February 8, 2010, February 16, 2010, May 4, 2010, May 6,
2010, May 14, 2010 and May 18, 2010; and</p>

<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-.5in'>&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the description of our common
stock contained in our registration statement on Form 8-A, filed on August 5,
1996, and all amendments and reports updating that description.</p>



<p class=MsoFooter align=center style='text-align:center'>1</p>

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<p class=MsoTitle align=left style='text-align:left;text-indent:.5in'>In addition, all documents filed by the Registrant
subsequent to the date hereof pursuant to Sections 13(a), 13(c), 14 and 15(d)
of the Securities Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), and
prior to the filing of a post-effective amendment which indicates that all
securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be part hereof from the date of filing of such
documents.&nbsp; Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or
is deemed to be incorporated by reference herein modifies or supersedes such
statement.&nbsp; Any such statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this Registration
Statement.</p>



<p class=MsoTitle align=left style='text-align:left'><b>Item 4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Description
of Securities.</b></p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not applicable (the Common Stock is registered under
Section 12 of the Exchange Act).</p>



<p class=MsoTitle align=left style='text-align:left'><b>Item 5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interests
of Named Experts and Counsel.</b></p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.</p>



<p class=MsoTitle align=left style='text-align:left'><b>Item 6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indemnification
of Directors and Officers.</b></p>



<p class=MsoNormal style='text-indent:1.0in; text-align:left'>Parkway is organized in the state
of Maryland.&nbsp; Maryland law permits a corporation to include in its charter a
provision limiting the liability of its directors and officers to the
corporation and its stockholders for money damages, except for liability
resulting from (i) actual receipt of an improper benefit or profit in money,
property or services or (ii) active and deliberate dishonesty established by a
final judgment and which is material to the cause of action.&nbsp; The charter of
Parkway (the &quot;Charter&quot;) contains a provision which eliminates directors' and
officers' liability to the maximum extent permitted by Maryland law.</p>



<p class=MsoNormal style='text-indent:1.0in; text-align:left'>Maryland law requires a
corporation (unless its charter provides otherwise, which the Charter does not)
to indemnify a director or officer who has been successful in the defense of
any proceeding to which he or she is made a party by reason of his or her
service in that capacity, or in the defense of any issue, claim or matter in
such a proceeding.&nbsp; The Charter contains a provision authorizing and requiring
Parkway to indemnify, to the fullest extent permitted by Maryland law, its
directors and officers, whether serving Parkway or, at its request, any other
entity.&nbsp; </p>



<p class=MsoNormal style='text-indent:1.0in; text-align:left'>Maryland law permits a corporation
to indemnify its present and former directors and officers, among others,
against judgments, penalties, fines, settlements and reasonable expenses
actually incurred by them in connection with any proceeding unless it is
established that:</p>
<p class=MsoNormal style='text-indent:1.0in; text-align:left'>&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the act or omission was material to the matter giving rise to the
proceeding and (i) was committed in bad faith or (ii) was the result of active
and deliberate dishonesty,</p>



<p class=MsoNormal style='margin-left:1.25in;text-indent:-.25in;text-autospace:
none; text-align:left'>&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
the director or officer actually received an improper personal
benefit in money, property or services, or</p>



<p class=MsoNormal style='margin-left:1.25in;text-indent:-.25in;text-autospace:
none; text-align:left'>&#149;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
in the case of any criminal proceeding, the director or officer
had reasonable cause to believe that the act or omission was unlawful.</p>

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<p class=MsoNormal style='text-indent:1.0in; text-align:left'>A court may order indemnification
if it determines that the director or officer is fairly and reasonably entitled
to indemnification, even though the prescribed standard of conduct is not met.&nbsp;
However, indemnification for an adverse judgment in a suit by us or in our
right, or for a judgment of liability on the basis that personal benefit was
improperly received, is limited to expenses.</p>



<p class=MsoNormal style='text-indent:1.0in; text-align:left'>In addition, Maryland law permits
us to advance reasonable expenses to a director or officer upon receipt of (i)
a written affirmation by the director or officer of his or her good faith
belief that he or she has met the standard of conduct necessary for
indemnification and (ii) a written undertaking by him or her or on his or her
behalf to repay the amount paid or reimbursed if it is ultimately determined
that the standard of conduct was not met.</p>



<p class=MsoNormal style='text-indent:1.0in; text-align:left'>Parkway has entered into an
indemnification agreement (the &quot;Indemnification Agreement&quot;) with each of its
directors and officers, and the Board of Directors has authorized Parkway to
enter into an Indemnification Agreement with each of the future directors and
officers of Parkway.&nbsp; While Maryland law permits a corporation to indemnify its
directors and officers; as described above, it also authorizes other
arrangements for indemnification of directors and officers, including
insurance.&nbsp; The Indemnification Agreement is intended to provide
indemnification to the maximum extent allowed by the laws of the State of
Maryland.</p>



<p class=MsoNormal style='text-indent:1.0in; text-align:left'>The Indemnification Agreement
provides that Parkway shall indemnify a director or officer who is a party to
the Agreement (the &quot;Indemnitee&quot;) if he or she was or is a party to or otherwise
involved in any proceeding by reason of the fact that he or she was or is a
director or officer of Parkway, or was or is serving at its request in a
certain capacity of another entity, against losses incurred in connection with
the defense or settlement of such proceeding.&nbsp; The provisions in the
Indemnification Agreement are similar to those provided for under Maryland
law.&nbsp; According to the Indemnification Agreement, however, an Indemnitee who
pays any amount in settlement of a proceeding without Parkway's written consent
is not entitled to indemnification.</p>



<p class=MsoTitle align=left style='text-align:left'>Item 7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exemption
From Registration Claimed.</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Not applicable.</p>



<p class=MsoTitle align=left style='text-align:left'>Item 8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; See the Exhibit Index, which is incorporated herein by
reference. </p>



<p class=MsoTitle align=left style='text-align:left'>Item 9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Undertakings.</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The undersigned Registrant hereby undertakes:</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To file, during any period in which
offers or sales are being made, a post-effective amendment to this Registration
Statement:</p>



<p class=MsoFooter align=center>3</p>

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<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To include any
prospectus required by Section 10(a)(3) of the Securities Act;</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To reflect in the
prospectus any facts or events arising after the effective date of this
Registration Statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the
information set forth in this Registration Statement.&nbsp; Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
and price represent no more than a 20 percent change in the maximum aggregate
offering price set forth in the &quot;Calculation of Registration Fee&quot; table in the
effective registration statement; and</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To include any material
information with respect to the plan of distribution not previously disclosed
in the Registration Statement or any material change to such information in the
Registration Statement;</p>



<p class=MsoTitle align=left style='text-align:left'><i>provided, however,</i> that
paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant
pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated
by reference in the Registration Statement.</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial <i>bona fide</i> offering thereof.</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; To remove from registration by means
of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.</p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each
filing of the Registrant's annual report pursuant to Section 13(a) or Section
15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan's annual report pursuant to Section 15(d) of the Exchange Act)
that is incorporated by reference in the Registration Statement shall be deemed
to be a new registration statement relating to the securities offered herein,
and the offering of such securities at that time shall be deemed to be the
initial <i>bona fide</i> offering thereof.</p>



<p class=MsoFooter align=center>4</p>

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<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and
controlling persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable.&nbsp; In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of&nbsp; its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.</p>

<p class=MsoFooter align=center>5</p>

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<p class=MsoTitle><b>SIGNATURES</b></p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements of the Securities Act of 1933,
the Registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Jackson, State of Mississippi, on May 18, 2010.</p>



<p class=MsoTitle>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> PARKWAY
PROPERTIES, INC.</b></p>
<p class=MsoTitle align=left style='text-align:left'>&nbsp;</p>





<p class=MsoTitle style='margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; By:
&nbsp;<u>/s/ Richard G. Hickson IV</u></p>

<p class=MsoTitle style='margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Richard
G. Hickson IV</p>

<p class=MsoTitle style='margin-top:0; margin-bottom:0'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief
Financial Officer</p>





<p class=MsoTitle><b>POWERS OF ATTORNEY</b></p>



<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We, the undersigned directors and officers of Parkway
Properties, Inc., a Maryland corporation, do hereby constitute and appoint Steven
G. Rogers and Leland R. Speed, and each and either of them, our true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, to do any and all acts and things in our names and on our
behalf in our capacities as directors and officers and to execute any and all
instruments for us and in our name in the capacities indicated below, which
said attorneys and agents may deem necessary or advisable to enable said
corporation to comply with the Securities Act of 1933 and any rules,
regulations and requirements of the Securities and Exchange Commission, in
connection with this registration statement, or any registration statement for
this offering that is to be effective upon filing pursuant to Rule 462(b) under
the Securities Act of 1933, including specifically, but without limitation, any
and all amendments (including post-effective amendments) hereto; and we hereby
ratify and confirm all that said attorneys and agents, or either of them, shall
do or cause to be done by virtue thereof.</p>

<p class=MsoFooter align=center>6</p>

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<p class=MsoTitle align=left style='text-align:left'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed by the following persons in the
capacities indicated as of the 18th day of May 2010.</p>
<div align="left">



<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0
 style='border-collapse:collapse'>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align="left"><u>Signature</u></p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align="left"><u>Title</u></p>
  <p class=MsoTitle align="left"><u>&nbsp;</u></p>
  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Leland R. Speed</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Leland R. Speed</p>

  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Director and Chairman of the Board </p>

  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Steven G. Rogers</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Steven G. Rogers</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Chief Executive Officer, President and Director </p>

  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Richard G. Hickson IV</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Richard G. Hickson IV</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Executive Vice President and Chief Financial Officer</p>

  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Mandy M. Pope</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Mandy M. Pope</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Executive Vice President and Chief Accounting Officer</p>

  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Charles T. Cannada</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Charles T. Cannada</p>

  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Laurie L. Dotter</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Laurie L. Dotter</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Director</p>


  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Daniel P. Friedman</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Daniel P. Friedman</p>

  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Director</p>
  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Michael J. Lipsey</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Michael J. Lipsey</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Director</p>


  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Brenda J. Mixson</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Brenda J. Mixson</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Director</p>


  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Troy A. Stovall</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Troy A. Stovall</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Director</p>


  </td>
 </tr>
 <tr>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'><u>/s/ Lenore M. Sullivan</u></p>
  <p class=MsoTitle align=left style='text-align:left'>Lenore M. Sullivan</p>
  </td>
  <td width=319 valign=top style='width:239.4pt;padding:0in 5.4pt 0in 5.4pt' align="left">
  <p class=MsoTitle align=left style='text-align:left'>Director</p>
  </td>
 </tr>
</table>



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<p class=MsoTitle><b>EXHIBIT INDEX</b></p>





<p class=MsoTitle align=left style='text-align:left'><b><u>Exhibit Number</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Description</u></b></p>



<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-1.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Opinion
of Jaeckle Fleischmann &amp; Mugel, LLP as to the legality of the securities
being registered (filed herewith).</p>



<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-1.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consent
of KPMG LLP (filed herewith).</p>



<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-1.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consent
of Ernst &amp; Young LLP (filed herewith).</p>



<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-1.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consent
of KPMG LLP (filed herewith).</p>



<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-1.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consent of
Jaeckle Fleischmann &amp; Mugel, LLP (included in Exhibit 5).</p>



<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-1.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Power
of Attorney (included on signature page).</p>



<p class=MsoTitle align=left style='margin-left:1.5in;text-align:left;
text-indent:-1.5in'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Parkway
Properties, Inc. Amended and Restated 2010 Omnibus Equity Incentive Plan (incorporated
by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed May
18, 2010).</p>



















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</html>
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{"company-data": {"conformed-name": "PARKWAY PROPERTIES INC", "cik": "0000729237", "assigned-sic": "6798", "irs-number": "742123597", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-166922", "film-number": "10842751"}, "business-address": {"street1": "ONE JACKSON PL", "street2": "188 E CAPITOL ST STE 1000", "city": "JACKSON", "state": "MS", "zip": "39225-4647", "phone": "6019484091"}, "mail-address": {"street1": "ONE JACKSON PL P O BOX 24647", "street2": "188 E CAPITOL ST STE 1000", "city": "JACKSON", "state": "MS", "zip": "39225"}, "former-company": {"former-conformed-name": "PARKWAY CO", "date-changed": "19951018"}}
As filed with the
Securities and Exchange Commission on May 18, 2010
Registration
No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
_____________________
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
_____________________
PARKWAY PROPERTIES, INC.
(Exact Name of Registrant as
Specified in its Charter)
Maryland
(State or Other
  Jurisdiction of Incorporation or Organization)
74-2123597
(I.R.S. Employer
  Identification No.)
One Jackson Place, Suite
1000
188 East Capitol Street
Jackson, Mississippi 39201
(Address of Principal
Executive Offices, including Zip Code)
_____________________
Parkway Properties, Inc.
2010 Omnibus Equity Incentive Plan
(Full Title of the Plan)
_____________________
Steven G. Rogers, Chief
Executive Officer and President
One Jackson Place, Suite
1000
188 East Capitol Street
Jackson, Mississippi  39201
(Name and Address of Agent
for Service)
(601) 948-4091
(Telephone Number, Including
Area Code, of Agent for Service)
_____________________
Copy to:
Michael C. Donlon, Esq.
Jaeckle Fleischmann &
Mugel, LLP
12 Fountain Plaza
Buffalo, New York  14202
(716) 856-0600
_____________________
Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer,
or a smaller reporting
company.  See definitions of "large accelerated filer," "accelerated filer" and
"smaller reporting
company" in Rule 12b-2 of the Exchange Act.
(Check one):
Large accelerated filer  [  ]                                                                                        Accelerated
filer  [X]
Non-accelerated filer  [  ]                                                                                         Smaller
reporting company  [  ]
(Do not check if a smaller reporting company)
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be Registered
Proposed Maximum Offering Price Per Share (1)
Proposed Maximum Aggregate Offering Price (1)
Amount of Registration Fee
Common Stock, $0.001 par value per share  (2)
600,000
$18.055
$10,833,000
$772
(1)     Determined in accordance with
Rule 457(c) and 457(h)(1) under the Securities Act of 1933
based on the average
of the high and low reported sales prices of the Common Stock on the
New York
Stock Exchange on May 17, 2010.
(2)      Pursuant to Rule 416(a) under
the Securities Act of 1933, as amended, this Registration Statement
also covers
an indeterminate number of additional shares that may be offered and issued to
prevent
dilution resulting from stock splits, stock dividends or similar
transactions as provided in the Parkway
Properties, Inc. 2010 Omnibus Equity
Incentive Plan.
______________________________________________________________________________
EXPLANATORY NOTE
This Registration Statement on Form S-8 is being filed to
register 600,000 shares of common stock, par value $0.001 per share ("Common
Stock"), of Parkway Properties, Inc. which have been reserved for issuance under
the Parkway Properties, Inc. 2010 Omnibus Equity Incentive Plan.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part
I will be sent or given to participants in the plan described herein as
specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities
Act").  In accordance with the instructions to Part I of Form S-8, such
documents will not be filed with the Securities and Exchange Commission (the "Commission")
either as part of this Registration Statement or as prospectuses or prospectus
supplements pursuant to Rule 424 of the Securities Act.  These documents and
the documents incorporated by reference pursuant to Item 3 of Part II of this
Registration Statement, taken together, constitute the prospectus as required
by Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.                        Incorporation
of Documents by Reference.
Parkway Properties, Inc. (the "Registrant" or "Parkway")
hereby incorporates by reference into this Registration Statement the following
documents filed by it with the Commission:
•                    
our Annual Report on Form 10-K
for the year ended December 31, 2009;
•                    
our Quarterly Report on Form
10-Q for the period ended March 31, 2010;
•                    
our Current Reports on Form 8-K
filed with the SEC on February 8, 2010, February 16, 2010, May 4, 2010, May 6,
2010, May 14, 2010 and May 18, 2010; and
•                    
the description of our common
stock contained in our registration statement on Form 8-A, filed on August 5,
1996, and all amendments and reports updating that description.
1
In addition, all documents filed by the Registrant
subsequent to the date hereof pursuant to Sections 13(a), 13(c), 14 and 15(d)
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and
prior to the filing of a post-effective amendment which indicates that all
securities offered have been sold or which deregisters all securities then
remaining unsold, shall be deemed to be incorporated by reference in this
Registration Statement and to be part hereof from the date of filing of such
documents.  Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document which also is or
is deemed to be incorporated by reference herein modifies or supersedes such
statement.  Any such statement so modified or superseded shall not be deemed,
except as so modified or superseded, to constitute a part of this Registration
Statement.
Item 4.                        Description
of Securities.
Not applicable (the Common Stock is registered under
Section 12 of the Exchange Act).
Item 5.                        Interests
of Named Experts and Counsel.
Not applicable.
Item 6.                        Indemnification
of Directors and Officers.
Parkway is organized in the state
of Maryland.  Maryland law permits a corporation to include in its charter a
provision limiting the liability of its directors and officers to the
corporation and its stockholders for money damages, except for liability
resulting from (i) actual receipt of an improper benefit or profit in money,
property or services or (ii) active and deliberate dishonesty established by a
final judgment and which is material to the cause of action.  The charter of
Parkway (the "Charter") contains a provision which eliminates directors' and
officers' liability to the maximum extent permitted by Maryland law.
Maryland law requires a
corporation (unless its charter provides otherwise, which the Charter does not)
to indemnify a director or officer who has been successful in the defense of
any proceeding to which he or she is made a party by reason of his or her
service in that capacity, or in the defense of any issue, claim or matter in
such a proceeding.  The Charter contains a provision authorizing and requiring
Parkway to indemnify, to the fullest extent permitted by Maryland law, its
directors and officers, whether serving Parkway or, at its request, any other
entity.
Maryland law permits a corporation
to indemnify its present and former directors and officers, among others,
against judgments, penalties, fines, settlements and reasonable expenses
actually incurred by them in connection with any proceeding unless it is
established that:
•        
the act or omission was material to the matter giving rise to the
proceeding and (i) was committed in bad faith or (ii) was the result of active
and deliberate dishonesty,
•        
the director or officer actually received an improper personal
benefit in money, property or services, or
•        
in the case of any criminal proceeding, the director or officer
had reasonable cause to believe that the act or omission was unlawful.
2
A court may order indemnification
if it determines that the director or officer is fairly and reasonably entitled
to indemnification, even though the prescribed standard of conduct is not met. 
However, indemnification for an adverse judgment in a suit by us or in our
right, or for a judgment of liability on the basis that personal benefit was
improperly received, is limited to expenses.
In addition, Maryland law permits
us to advance reasonable expenses to a director or officer upon receipt of (i)
a written affirmation by the director or officer of his or her good faith
belief that he or she has met the standard of conduct necessary for
indemnification and (ii) a written undertaking by him or her or on his or her
behalf to repay the amount paid or reimbursed if it is ultimately determined
that the standard of conduct was not met.
Parkway has entered into an
indemnification agreement (the "Indemnification Agreement") with each of its
directors and officers, and the Board of Directors has authorized Parkway to
enter into an Indemnification Agreement with each of the future directors and
officers of Parkway.  While Maryland law permits a corporation to indemnify its
directors and officers; as described above, it also authorizes other
arrangements for indemnification of directors and officers, including
insurance.  The Indemnification Agreement is intended to provide
indemnification to the maximum extent allowed by the laws of the State of
Maryland.
The Indemnification Agreement
provides that Parkway shall indemnify a director or officer who is a party to
the Agreement (the "Indemnitee") if he or she was or is a party to or otherwise
involved in any proceeding by reason of the fact that he or she was or is a
director or officer of Parkway, or was or is serving at its request in a
certain capacity of another entity, against losses incurred in connection with
the defense or settlement of such proceeding.  The provisions in the
Indemnification Agreement are similar to those provided for under Maryland
law.  According to the Indemnification Agreement, however, an Indemnitee who
pays any amount in settlement of a proceeding without Parkway's written consent
is not entitled to indemnification.
Item 7.                        Exemption
From Registration Claimed.
Not applicable.
Item 8.                        Exhibits.
See the Exhibit Index, which is incorporated herein by
reference.
Item 9.                        Undertakings.
(a)        The undersigned Registrant hereby undertakes:
(1)        To file, during any period in which
offers or sales are being made, a post-effective amendment to this Registration
Statement:
3
(i)         To include any
prospectus required by Section 10(a)(3) of the Securities Act;
(ii)        To reflect in the
prospectus any facts or events arising after the effective date of this
Registration Statement (or the most recent post-effective amendment thereof)
which, individually or in the aggregate, represent a fundamental change in the
information set forth in this Registration Statement.  Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume
and price represent no more than a 20 percent change in the maximum aggregate
offering price set forth in the "Calculation of Registration Fee" table in the
effective registration statement; and
(iii)       To include any material
information with respect to the plan of distribution not previously disclosed
in the Registration Statement or any material change to such information in the
Registration Statement;
provided, however,
that
paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to
be included in a post-effective amendment by those paragraphs is contained in
periodic reports filed with or furnished to the Commission by the Registrant
pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated
by reference in the Registration Statement.
(2)        That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial
bona fide
offering thereof.
(3)        To remove from registration by means
of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.
(b)        The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each
filing of the Registrant's annual report pursuant to Section 13(a) or Section
15(d) of the Exchange Act (and, where applicable, each filing of an employee
benefit plan's annual report pursuant to Section 15(d) of the Exchange Act)
that is incorporated by reference in the Registration Statement shall be deemed
to be a new registration statement relating to the securities offered herein,
and the offering of such securities at that time shall be deemed to be the
initial
bona fide
offering thereof.
4
(c)        Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and
controlling persons of the Registrant pursuant to the foregoing provisions, or
otherwise, the Registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities
Act and is, therefore, unenforceable.  In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such director, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of  its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
5
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933,
the Registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and has duly caused this
Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Jackson, State of Mississippi, on May 18, 2010.
PARKWAY
PROPERTIES, INC.
By:
/s/ Richard G. Hickson IV
Richard
G. Hickson IV
Chief
Financial Officer
POWERS OF ATTORNEY
We, the undersigned directors and officers of Parkway
Properties, Inc., a Maryland corporation, do hereby constitute and appoint Steven
G. Rogers and Leland R. Speed, and each and either of them, our true and lawful
attorneys-in-fact and agents, with full power of substitution and
resubstitution, to do any and all acts and things in our names and on our
behalf in our capacities as directors and officers and to execute any and all
instruments for us and in our name in the capacities indicated below, which
said attorneys and agents may deem necessary or advisable to enable said
corporation to comply with the Securities Act of 1933 and any rules,
regulations and requirements of the Securities and Exchange Commission, in
connection with this registration statement, or any registration statement for
this offering that is to be effective upon filing pursuant to Rule 462(b) under
the Securities Act of 1933, including specifically, but without limitation, any
and all amendments (including post-effective amendments) hereto; and we hereby
ratify and confirm all that said attorneys and agents, or either of them, shall
do or cause to be done by virtue thereof.
6
Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed by the following persons in the
capacities indicated as of the 18th day of May 2010.
Signature
Title
/s/ Leland R. Speed
Leland R. Speed
Director and Chairman of the Board
/s/ Steven G. Rogers
Steven G. Rogers
Chief Executive Officer, President and Director
/s/ Richard G. Hickson IV
Richard G. Hickson IV
Executive Vice President and Chief Financial Officer
/s/ Mandy M. Pope
Mandy M. Pope
Executive Vice President and Chief Accounting Officer
/s/ Charles T. Cannada
Charles T. Cannada
Director
/s/ Laurie L. Dotter
Laurie L. Dotter
Director
/s/ Daniel P. Friedman
Daniel P. Friedman
Director
/s/ Michael J. Lipsey
Michael J. Lipsey
Director
/s/ Brenda J. Mixson
Brenda J. Mixson
Director
/s/ Troy A. Stovall
Troy A. Stovall
Director
/s/ Lenore M. Sullivan
Lenore M. Sullivan
Director
7
EXHIBIT INDEX
Exhibit Number
Description
5                      Opinion
of Jaeckle Fleischmann & Mugel, LLP as to the legality of the securities
being registered (filed herewith).
23.1                 Consent
of KPMG LLP (filed herewith).
23.2                 Consent
of Ernst & Young LLP (filed herewith).
23.3                 Consent
of KPMG LLP (filed herewith).
23.4                 Consent of
Jaeckle Fleischmann & Mugel, LLP (included in Exhibit 5).
24                    Power
of Attorney (included on signature page).
99                    Parkway
Properties, Inc. Amended and Restated 2010 Omnibus Equity Incentive Plan (incorporated
by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed May
18, 2010).