The headword is the aorist active participle, masculine nominative singular, of parei=pon, a second aorist verb not found in the present tense (LSJ s.v.); cf. pi 596. same or similar glossing in other other lexica; references at Photius pi356 Theodoridis. Among other attestations, the headword occurs four times in Homer, Iliad e.g. 6.62 (web address 1) and 11.793 (web address 2) -- the latter being the passage that has prompted this entry.
In epic the first syllable is long, reflecting the original digamma (*parveipw/n).
The gloss uses the same participle from the verb paraine/w (pi 498).