Summary of BUCKEYE TECHNOLOGIES INC

ITEM 1.01. Entry into a Material Definitive Agreement

Director Indemnification Agreements

On October 26, 2009, pursuant to authorization by the Board of Directors of Buckeye Technologies Inc. (the "Company"), the Company entered into indemnification agreements (the "Indemnification Agreements") with each of its directors. Each of the Indemnification Agreements provides, among other things, that each director (and in certain situations, a director's spouse) shall have a contractual right (i) to indemnification to the fullest extent permitted by applicable law for losses suffered or expenses incurred in connection with any threatened, pending or completed litigation or other proceeding relating to that person's service as a director of the Company, (ii) subject to certain limitations and procedural requirements, to the advancement of expenses paid or incurred in connection with such litigation or other proceeding, (iii) to certain procedural and other protections effective upon a change in control of the Company, including but not limited to the creation of a trust to secure the Company's indemnification obligations, and (iv) to coverage under the Company's directors' and officers' insurance policies, to the extent that the Company maintains such insurance policies and they are reasonably available, with comparable levels of coverage as the policies in effect as of the date of the Indemnification Agreements.

The foregoing summary of the Indemnification Agreements is qualified in its entirety by reference to the full text of the form of Indemnification Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 10-K and incorporated herein by reference.