Summary of PARKWAY PROPERTIES INC

ITEM 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers

As previously reported, on January 25, 2013, Mandy M. Pope resigned as Executive Vice President and Chief Accounting Officer of Parkway Properties, Inc. (the "Company"). In connection with the resignation, the Company has agreed to pay Ms. Pope a severance payment calculated in accordance with Section 5 of that certain Change in Control Agreement dated May 13, 2010 by and between the Company and Ms. Pope.

On January 28, 2013, the Company and Ms. Pope entered into a Consulting Agreement pursuant to which Ms. Pope has agreed to remain available on a part-time basis to assist with the transition of her duties and responsibilities to others within the Company for a consulting fee of $960 per week. The Consulting Agreement remains in effect through March 15, 2013. Ms. Pope will receive a lump sum payment in the amount of $88,699 at the beginning of the consulting period and an additional $15,000 at the end of the consulting period.
As a condition of receiving the benefits provided by the Consulting Agreement, Ms. Pope agreed to provide the Company with a general release of claims.

The Consulting Agreement is attached hereto as Exhibit 10.1. The foregoing description of the Consulting Agreement does not purport to be complete and is qualified in its entirety by reference to the exhibit filed herewith.