SECOND AMENDED AND RESTATED
 
                          CERTIFICATE OF INCORPORATION
 
                                       OF
 
                          BUCKEYE CELLULOSE CORPORATION
 
 
                                   ARTICLE ONE
 
            The name of the corporation is BUCKEYE TECHNOLOGIES INC.
 
 
                                   ARTICLE TWO
 
                  The  address  of the  corporation's  registered  office in the
State of Delaware is 1013 Centre Road, Wilmington,  Delaware 19805- 1297, County
of New  Castle.  The  name  of its  registered  agent  at  such  address  is The
Prentice-Hall  Corporation  System, Inc. The registered office and/or registered
agent of the corporation may be changed from time to time by action of the board
of directors.
 
 
                                  ARTICLE THREE
 
                  The nature of the  business  or purposes  to be  conducted  or
promoted is to engage in any lawful act or activity for which  corporations  may
be organized  under the General  Corporation  Law of the State of Delaware  (the
"Delaware General Corporation Law").
 
 
                                  ARTICLE FOUR
 
                                  CAPITAL STOCK
 
                  (a) The  total  number of  shares  of  common  stock  that the
corporation  shall have  authority  to issue is  50,000,000,  par value $.01 per
share (the "Common  Stock").  The total number of shares of preferred stock that
the corporation  shall have authority to issue is 5,000,000,  par value $.01 per
share (the "Preferred Stock").
 
                                      - 1 -
<PAGE>
                  (b) The Common Stock shall rank junior to the Preferred  Stock
in right of payment of dividends and upon  liquidation and is subject to all the
powers, rights, privileges, preferences and priorities of the Preferred Stock as
provided  herein or in any  resolution  or  resolutions  adopted by the board of
directors  pursuant to authority  expressly  vested in it by the  provisions  of
Paragraph (c) of this ARTICLE FOUR.
 
                  (c)  Authority  is  hereby  expressly  vested  in the board of
directors of the corporation, subject to the provisions of this ARTICLE FOUR and
to the  limitations  prescribed  by law, to authorize  the issuance from time to
time of one or more series of  Preferred  Stock.  The  authority of the board of
directors with respect to each series shall include,  but not be limited to, the
determination or fixing of the following by resolution or resolutions adopted by
the affirmative  vote of a majority of the total number of the directors then in
office:
 
                    (i)    The designation of such series;
 
                   (ii) The dividend  rate of such series,  the  conditions  and
dates  upon which such  dividends  shall be  payable,  the  relation  which such
dividends  shall bear to the dividends  payable on any other class or classes or
series of the  corporation's  capital stock, and whether such dividends shall be
cumulative or non-cumulative;
 
                  (iii)  Whether the shares of such  series  shall be subject to
redemption  for cash,  property  or rights,  including  securities  of any other
corporation, by the corporation or upon the happening of a specified event, and,
if made  subject to any such  redemption,  the times or events,  prices,  rates,
adjustments and other terms and conditions of such redemptions;
 
                   (iv) The terms and amount of any sinking  fund  provided  for
the purchase or redemption of the shares of such series;
 
                    (v)  Whether or  not the  shares  of such  series  shall  be
convertible into, or exchangeable for, at the option of either the holder or the
corporation  or upon the  happening  of a specified  event,  shares of any other
class or  classes  or of any  other  series  of the same or any  other  class or
classes of the  corporation's  capital  stock,  and,  if  provision  be made for
conversion or exchange,  the times or events,  prices,  rates,  adjustments  and
other terms and conditions of such conversions or exchanges;
 
                   (vi) The restrictions, if any, on the issue or reissue of any
additional Preferred Stock;
 
 
                                      - 2 -
<PAGE>
 
                  (vii) The rights of the  holders of the shares of such  series
upon the voluntary or involuntary liquidation,  dissolution or winding up of the
corporation; and
 
                 (viii) The  provisions  as to  voting,  optional  and/or  other
special rights and preferences, if any, including, without limitation, the right
to elect one or more directors.
 
                    (d) On all matters submitted for a vote of the stockholders,
each  holder of Common  Stock  shall be  entitled  to one vote for each share of
Common Stock held by such holder, except as otherwise required by law.
 
 
                                  ARTICLE FIVE
 
                 The corporation is to have perpetual existence.
 
 
                                   ARTICLE SIX
 
                       In  furtherance  and  not in  limitation  of  the  powers
conferred  by statute,  the  board of directors of the  corporation is expressly
authorized to make, alter,  amend, change, add  to or  repeal the by-laws of the
corporation.
 
 
                                  ARTICLE SEVEN
 
                       Meetings of stockholders  may  be  held within or without
the State of Delaware,  as the by-laws of the corporation may provide. The books
of the  corporation  may be kept  outside the State of Delaware at such place or
places as may be  designated  from time to time by the board of  directors or in
the by-laws of the  corporation.  Election of  directors  need not be by written
ballot unless the by-laws of the corporation so provide.
 
 
                                  ARTICLE EIGHT
 
                    (a)  Subject to the  rights of the  holders of any series of
Preferred  Stock,  from and  after  the date on which  the  Common  Stock of the
corporation is registered  pursuant to the  Securities  Exchange Act of 1934, as
amended, (A) any action required or permitted to be taken by the stockholders of
the corporation must be effected at an annual or special meeting of stockholders
of the  corporation  and may not be effected  in lieu  thereof by any consent in
writing by such  stockholders,  and (B) special  meetings of stockholders of the
corporation may be called only by the chairman
 
 
                                      - 3 -
<PAGE>
 
of the board,  the president or the board of directors  pursuant to a resolution
adopted by the affirmative vote of the majority of the total number of directors
then in office.
 
                    (b)   A director of the corporation shall not in the absence
of fraud be  disqualified  by his office from  dealing or  contracting  with the
corporation  either as a vendor,  purchaser or otherwise,  nor in the absence of
fraud shall any  transaction or contract of the  corporation be void or voidable
or  affected by reason of the fact that any  director,  or any firm of which any
director is a member,  or any  corporation  of which any director is an officer,
director  or  stockholder,  is in any  way  interested  in such  transaction  or
contract;  provided  that at the  meeting  of the  board  of  directors  or of a
committee  thereof having authority in authorizing or affirming such contract or
transaction, the existence of the interest of such director, firm or corporation
is disclosed or made known and such contract or transaction shall be approved by
a majority of directors not so  interested or connected.  Nor shall any director
be liable to account to the  corporation  for any profit realized by him from or
through any such transaction or contract of the corporation ratified or approved
as aforesaid, by reason of the fact that he or any firm of which he is a member,
or any  corporation  of which he is an  officer,  director or  stockholder,  was
interested  in such  transaction  or contract.  Directors so  interested  may be
counted when present at meetings of the board of directors or such committee for
the purpose of determining the existence of a quorum. Any contract,  transaction
or act of the  corporation  or of the  board of  directors  or of any  committee
thereof  (whether or not approved or ratified as  hereinabove  in this paragraph
provided)  which  shall be ratified by a majority in interest of a quorum of the
stockholders  having voting power at any annual  meeting or any special  meeting
called for such purpose,  shall be as valid and as binding as though ratified by
every stockholder of the corporation.
 
                    (c) The number of directors which shall constitute the whole
board shall be such as from time to time shall be fixed by resolution adopted by
affirmative vote of a majority of the board of directors except that such number
shall not be less than one (1) nor more than fifteen  (15),  the exact number to
be  determined by resolution  adopted by  affirmative  vote of a majority of the
board of directors. The directors of the corporation shall be divided into three
classes: Class I, Class II and Class III. Membership in such classes shall be as
nearly  equal in number as possible.  The term of office of the initial  Class I
directors shall expire at the annual  election of directors by the  stockholders
of the corporation in 1996, the term of office of the initial Class II directors
shall  expire at the annual  election of directors  by the  stockholders  of the
corporation in 1997, and the
 
 
                                      - 4 -
<PAGE>
 
term of office of the initial  Class III  directors  shall  expire at the annual
election  of  directors  by the  stockholders  of the  corporation  in 1998,  or
thereafter  when their  respective  successors  in each case are  elected by the
stockholders  and  qualified,  subject,  however,  to prior death,  resignation,
retirement,   disqualification  or  removal  from  office  for  cause.  At  each
succeeding  annual election of directors by the  stockholders of the corporation
beginning in 1996, the directors chosen to succeed those whose terms then expire
shall be identified as being of the same class as the directors they succeed and
shall be elected for a term expiring at the third succeeding  annual election of
directors by the  stockholders  of the  corporation,  or  thereafter  when their
respective  successors  in  each  case  are  elected  by  the  stockholders  and
qualified. If the number of directors is changed, any increase or decrease shall
be  apportioned  among the classes so as to maintain  the number of directors in
each class as nearly equal as possible, and any additional director of any class
elected to fill a vacancy  resulting  from an  increase in such class shall hold
office for a term that shall coincide with the remaining term of that class, but
in no case will a decrease  in the number of  directors  shorten the term of any
incumbent director.
 
                  Vacancies and newly created  directorships  resulting from any
increase in the number of directors  may be filled only by (i) the  stockholders
at an annual or special meeting of the  corporation,  as provided in the by-laws
or (ii) the  affirmative  vote of the majority of the board of directors then in
office, although less than quorum, or by a sole remaining director. Any director
elected  to fill a vacancy  not  resulting  from an  increase  in the  number of
directors shall have the same remaining term as that of his predecessor.
 
                  Notwithstanding the foregoing, whenever the holders of any one
or more classes or series of Preferred  Stock  issued by the  corporation  shall
have the right,  voting  separately by class or series, to elect directors at an
annual or special meeting of stockholders,  the election, term of office, filing
of vacancies and other features of such  directorships  shall be governed by the
terms  of  this  Certificate  of  Incorporation  applicable  thereto,  and  such
directors so elected shall not be divided into classes  pursuant to this Section
(c) of Article EIGHTH unless expressly provided by such terms.
 
                  Subject to the rights of any class or series of stock having a
preference  over the Common Stock as to dividends or upon  liquidation  to elect
directors under specified circumstances,  no director may be removed from office
without cause.
 
 
                                      - 5 -
<PAGE>
 
                  (d)   Except  to the  extent prohibited  by law, the  board of
directors  shall  have the  right  (which,  to the  extent  exercised,  shall be
exclusive) to establish the rights,  powers,  duties,  rules and procedures that
from time to time shall govern the board of  directors  and each of its members,
including  without  limitation  the vote required for any action by the board of
directors,  and that from time to time  shall  affect  the  directors'  power to
manage the  business  and  affairs of the  corporation;  and no by-law  shall be
adopted by stockholders  which shall impair or impede the  implementation of the
foregoing.
 
                  (e)  Any and all right, title, interest and claim in or to any
dividends  declared by the  corporation,  whether in cash,  stock or  otherwise,
which are  unclaimed  by the  stockholder  entitled  thereto for a period of six
years after the close of business  on the  payment  date,  shall be and shall be
deemed to be  extinguished  and abandoned;  and such unclaimed  dividends in the
possession  of  the  corporation,   its  transfer  agents  or  other  agents  or
depositories,   shall  at  such  time  become  the  absolute   property  of  the
corporation, free and clear of any and all claims of any persons whatsoever.
 
                  (f)  The board of directors shall have power from time to time
to  determine  to what  extent  and at what  times and  places  and  under  what
conditions and regulations the accounts and books of the corporation,  or any of
them,  shall be open to the inspection of the  stockholders;  and no stockholder
shall  have  any  right  to  inspect  any  account  or book or  document  of the
corporation,  except as conferred  by the laws of the State of Delaware,  unless
and until  authorized so to do by resolution of the board of directors or of the
stockholders of the corporation.
 
 
                                  ARTICLE NINE
 
                  Sections  (a),  (c) and (d) of ARTICLE  EIGHT and this ARTICLE
NINE of this Second  Amended  and  Restated  Certificate  of  Incorporation  and
Section  11 of  Article  II and  Sections  2, 3, 4 and 5 of  Article  III of the
by-laws of the corporation shall not be altered,  amended or repealed by, and no
provision  inconsistent  therewith shall be adopted by, the stockholders without
the affirmative vote of the holders of at least 80% of the Common Stock,  voting
together as a single class.
 
 
                                      - 6 -
<PAGE>
                                   ARTICLE TEN
 
                  (a)  Limitation of Liability.
 
                             (i) To the fullest extent permitted by the Delaware
         General  Corporation  Law as it now exists or may  hereafter be amended
         (but, in the case of any such  amendment,  only to the extent that such
         amendment  permits the corporation to provide  broader  indemnification
         rights than permitted  prior  thereto),  no director of the corporation
         shall be liable to the  corporation  or its  stockholders  for monetary
         damages arising from a breach of fiduciary duty owed to the corporation
         or its stockholders.
 
                            (ii) Any  repeal or  modification  of the  foregoing
         paragraph by the  stockholders of the  corporation  shall not adversely
         affect  any  right  or  protection  of a  director  of the  corporation
         existing at the time of such repeal or modification.
 
                  (b) Right to Indemnification. Each person who was or is made a
party or is threatened to be made a party to or is otherwise involved (including
involvement  as a witness) in any action,  suit or  proceeding,  whether  civil,
criminal,  administrative  or  investigative  (hereinafter a  "proceeding"),  by
reason  of the  fact  that  he or she is or was a  director  or  officer  of the
corporation  or,  while a  director  or officer  of the  corporation,  is or was
serving at the request of the  corporation as a director,  officer,  employee or
agent of another corporation or of a partnership,  joint venture, trust or other
enterprise,   including  service  with  respect  to  an  employee  benefit  plan
(hereinafter, an "indemnitee"),  whether the basis of such proceeding is alleged
action in an official capacity as a director or officer or in any other capacity
while serving as a director or officer,  shall be indemnified  and held harmless
by the  corporation  to the fullest  extent  authorized by the Delaware  General
Corporation  Law, as the same exists or may  hereafter be amended  (but,  in the
case of any such amendment,  only to the extent that such amendment  permits the
corporation  to provide  broader  indemnification  rights than  permitted  prior
thereto),  against all expense,  liability and loss (including  attorneys' fees,
judgments,  fines,  ERISA  exercise  taxes  or  penalties  and  amounts  paid in
settlement)  reasonably  incurred or suffered by such  indemnitee  in connection
therewith and such  indemnification  shall  continue as to an indemnitee who has
ceased to be a  director,  officer,  employee  or agent  and shall  inure to the
benefit of the  indemnitee's  heirs,  executors  and  administrators;  provided,
however,  that, except as provided in Section (c) of ARTICLE TEN with respect to
proceedings to enforce rights to
 
                                      - 7 -
<PAGE>
indemnification,   the  corporation  shall  indemnify  any  such  indemnitee  in
connection with a proceeding (or part thereof) initiated by such indemnitee only
if such proceeding (or part thereof) was authorized by the board of directors of
the corporation.  The right to indemnification  conferred in this Section (b) of
ARTICLE TEN shall be a contract  right and shall include the right to be paid by
the  corporation  the expenses  incurred in  defending  any such  proceeding  in
advance  of its  final  disposition  (hereinafter  an  "advance  of  expenses");
provided,  however,  that,  if and to  the  extent  that  the  Delaware  General
Corporation  Law requires,  an advance of expenses  incurred by an indemnitee in
his or her capacity as a director or officer  (and not in any other  capacity in
which  service  was  or is  rendered  by  such  indemnitee,  including,  without
limitation,  service  to an  employee  benefit  plan)  shall be made  only  upon
delivery to the corporation of an undertaking (hereinafter an "undertaking"), by
or on behalf of such  indemnitee,  to repay all  amounts so advanced if it shall
ultimately  be  determined  by final  judicial  decision  from which there is no
further  right  to  appeal  (hereinafter  a  "final   adjudication")  that  such
indemnitee  is not  entitled  to be  indemnified  for such  expenses  under this
Section (b) of ARTICLE TEN or otherwise.  The corporation  may, by action of its
board of  directors,  provide  indemnification  to  employees  and agents of the
corporation with the same scope and effect as the foregoing  indemnification  of
directors and officers.
 
                  (c) Procedure for  Indemnification.  Any  indemnification of a
director or officer of the  corporation or advance of expenses under Section (b)
of this ARTICLE TEN shall be made promptly,  and in any event within  forty-five
(45) days (or, in the case of an advance of  expenses,  twenty (20) days),  upon
the  written  request of the  director  or officer.  If a  determination  by the
corporation that the director or officer is entitled to indemnification pursuant
to this ARTICLE TEN is required,  and the  corporation  fails to respond  within
sixty (60) days to a written  request for indemnity,  the  corporation  shall be
deemed to have approved the request. If the corporation denies a written request
for  indemnification or advance of expenses,  in whole or in part, or if payment
in full pursuant to such request is not made within forty-five (45) days (or, in
the  case  of  an  advance  of  expenses,   twenty  (20)  days),  the  right  to
indemnification  or advances as granted by this ARTICLE TEN shall be enforceable
by the director or officer in any court of competent jurisdiction. Such person's
costs and expenses incurred in connection with successfully  establishing his or
her right to indemnification, in whole or in part, in any such action shall also
be  indemnified  by the  corporation.  It shall be a defense to any such  action
(other  than an action  brought to enforce a claim for the  advance of  expenses
where the undertaking  required  pursuant to Section (b) of this ARTICLE TEN, if
any, has
 
                                      - 8 -
<PAGE>
been tendered to the corporation) that the claimant has not met the standards of
conduct which make it permissible under the Delaware General Corporation Law for
the corporation to indemnify the claimant for the amount claimed, but the burden
of  such  defense  shall  be on the  corporation.  Neither  the  failure  of the
corporation (including its board of directors, independent legal counsel, or its
stockholders)  to have made a  determination  prior to the  commencement of such
action  that  indemnification  of the  claimant  is proper in the  circumstances
because he or she has met the  applicable  standard  of conduct set forth in the
Delaware General Corporation Law, nor an actual determination by the corporation
(including  its  board  of  directors,   independent   legal  counsel,   or  its
stockholders) that the claimant has not met such applicable standard of conduct,
shall be a defense to the action or create a  presumption  that the claimant has
not met the applicable standard of conduct. The procedure for indemnification of
other  employees  and agents for whom  indemnification  is provided  pursuant to
Section (b) of this  ARTICLE TEN shall be the same  procedure  set forth in this
Section (c) for directors or officers,  unless otherwise set forth in the action
of the board of directors providing indemnification for such employee or agent.
 
                  (d)  Service  for  Subsidiaries.   Any  person  serving  as  a
director,  officer,  employee  or agent of a  Subsidiary  shall be  conclusively
presumed to be serving in such capacity at the request of the corporation.
 
                  (e)  Reliance.  Persons who after the date of the  adoption of
this provision become or remain directors or officers of the corporation or who,
while a director  or officer of the  corporation,  become or remain a  director,
officer,  employee or agent of a Subsidiary,  shall be conclusively  presumed to
have relied on the rights to  indemnity,  advance of expenses  and other  rights
contained in this ARTICLE TEN in entering into or continuing  such service.  The
rights to  indemnification  and to the  advance of  expenses  conferred  in this
ARTICLE TEN shall apply to claims made against an indemnitee arising out of acts
or omissions  which  occurred or occur both prior and subsequent to the adoption
hereof.
 
                  (f)  Non-Exclusivity  of Rights. The rights to indemnification
and to the  advance  of  expenses  conferred  in this  ARTICLE  TEN shall not be
exclusive  of any other  right  which any person may have or  hereafter  acquire
under this Certificate of Incorporation or under any statute, by-law, agreement,
vote of stockholders or disinterested directors or otherwise.
 
                  (g)  Insurance.  The  corporation  may  purchase  and maintain
insurance  on its  own  behalf  and on  behalf  of  any  person  who is or was a
director, officer, employee or agent of the
 
 
                                      - 9 -
<PAGE>
corporation  or was  serving at the  request of the  corporation  as a director,
officer, employee or agent of another corporation,  partnership,  joint venture,
trust or other  enterprise  against  any  expense,  liability  or loss  asserted
against him or her and incurred by him or her in any such  capacity,  whether or
not the  corporation  would have the power to indemnify such person against such
expenses, liability or loss under the Delaware General Corporation Law.
 
 
                                 ARTICLE ELEVEN
 
                  The corporation expressly elects to be governed by Section 203
of the Delaware General Corporation Law.
 
 
                                 ARTICLE TWELVE
 
                  In addition to any other votes which may be required  pursuant
to this Second Amended and Restated Certificate or otherwise, the authorization,
if any,  required  pursuant  to the  General  Corporation  Law of the  State  of
Delaware in connection with (a) any merger or  consolidation  of the corporation
with or into any other entity  (unless such other entity is a Subsidiary  of the
corporation),  or (b) the  sale,  lease,  exchange  or  disposition  in a single
transaction  or  series  of  related  transactions  by  the  corporation  or any
Subsidiary  to an  individual  or  entity  (other  than the  corporation  or any
Subsidiary of the corporation) of assets  constituting all or substantially  all
of the assets of the corporation and its  Subsidiaries  taken as a whole,  shall
require the affirmative vote of at least 75% of the outstanding shares of Common
Stock of the corporation, voting as a single class. For purposes of this ARTICLE
TWELVE,  "Subsidiary" shall mean any entity of which the corporation directly or
indirectly owns greater than 50% of the voting  securities or other interests of
such entity.  This ARTICLE TWELVE shall not be altered,  amended or repealed by,
and no provision  inconsistent  herewith  shall be adopted by, the  stockholders
without the affirmative  vote of the holders of at least 75% of the Common Stock
of the corporation, voting together as a single class.
 
 
                                ARTICLE THIRTEEN
 
                  The corporation  reserves the right to amend, alter, change or
repeal any provision  contained in this Second Amended and Restated  Certificate
of  Incorporation  in the manner now or hereafter  prescribed  herein and by the
laws of the State of
 
                                     - 10 -
<PAGE>
 
Delaware,  and all rights conferred upon stockholders herein are granted subject
to this reservation.

 

 

 

 

 

 

 

 

 



                          ARTICLES OF AMENDMENT TO THE

                           SECOND AMENDED AND RESTATED

                         CERTIFICATE OF INCORPORATION OF

                            BUCKEYE TECHNOLOGIES INC.

 

 

- --------------------------------------------------------------------------------

 

                           Adopted in accordance with

                        the provisions of Section 242 of

                         the General Corporation Law of

                              the State of Delaware

 

- --------------------------------------------------------------------------------

 

         Robert E. Cannon, being the Chairman of the Board of Buckeye

Technologies Inc., a corporation organized on December 18, 1992 as Buckeye

Specialties Corporation, and existing under and by virtue of the General

Corporation Law of the State of Delaware (the "Corporation"), does hereby

certify as follows:

 

         1. That the Board of Directors of the Corporation, in accordance with

Section 242 of the General Corporation Law of the State of Delaware, adopted the

resolution set forth below:

 

                  RESOLVED, that paragraph (a) of Article Four of the Second

         Amended and Restated Certificate of Incorporation of the Corporation be

         deleted in its entirety and in lieu thereof the following paragraph

         (the "Amendment") shall be substituted:

 

                  (a) The total number of shares of common stock that the

         corporation shall have authority to issue is 100,000,000, par value

         $.01 per share (the "Common Stock"). The total number of shares of

         preferred stock that the corporation shall have authority to issue is

         10,000,000, par value $.01 per share (the "Preferred Stock").

 

         2. That the stockholders of the Corporation approved and adopted the

Amendment to the Second Amended and Restated Certificate of Incorporation in

accordance with Section 242 of the General Corporation Law of the State of

Delaware.

 

 

<PAGE>   2

 

 

         3. The foregoing Amendment to the Second Amended and Restated

Certificate of Incorporation has been duly adopted pursuant to the provisions of

Section 242 of the General Corporation Law of the State of Delaware.

 

         4. The Amendment to the Second Amended and Restated Certificate of

Incorporation shall be effective on April 9, 1998 at 12:01 a.m. Eastern Time

(the "Effective Time").

 

         5. Notwithstanding the full adoption of the Amendment to the Second

Amended and Restated Certificate of Incorporation, the Amendment to the Second

Amended and Restated Certificate of Incorporation may be abandoned at any time

prior to the Effective Time with the Secretary of State of Delaware without

further action by the stockholders.

 

         IN WITNESS WHEREOF, the undersigned, being the Chairman of the Board

hereinabove named, for the purpose of amending the Second Amended and Restated

Certificate of Incorporation of the Corporation pursuant to the General

Corporation Law of the State of Delaware, under penalties of perjury does hereby

declare and certify that this is the act and deed of the Corporation and the

facts stated herein are true, and accordingly has hereunto signed this Second

Amended and Restated Certificate of Incorporation this 7th day of April, 1998.

 

 

                                         By: /s/ Robert E. Cannon

                                             ---------------------------------

                                             Robert E. Cannon, Chairman

                                             of the Board

 

 

 

 

 

 

 

CERTIFICATE OF AMENDMENT

TO THE

SECOND AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

OF

BUCKEYE TECHNOLOGIES INC.

 

BUCKEYE TECHNOLOGIES INC., a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware, does hereby certify:

 

1.           The name of the Corporation is Buckeye Technologies Inc. (the "Corporation").

 

2.           This Certificate of Amendment amends the Second Amended and Restated Certificate of Incorporation of the Corporation as follows:

 

 Article Eight, paragraph (c) is hereby deleted in its entirety, and the following provision is inserted in lieu thereof:

 

(c) The number of directors which shall constitute the whole board shall be such as from time to time shall be fixed by resolution adopted by the affirmative vote of a majority of the board of directors except that such number shall not be less than one (1) nor more than fifteen (15), the exact number to be determined by resolution adopted by the affirmative vote of a majority of the board of directors.  Subject to the special right of the holders of any class or series of Preferred Stock, voting separately as a class, to elect one or more directors of the Corporation:

 

(i) From the effective date of this Certificate of Amendment until the election of directors at the 2013 annual meeting of stockholders, the board of directors shall be divided into three classes of directors, Class I, Class II and Class III (each class as nearly equal in number as possible), composed, respectively, of directors who were elected at the 2011, 2012 and 2010 annual meetings of stockholders, or directors appointed to fill the vacancy of a director elected at such meetings, with the directors in Class I having a term expiring at the 2014 annual meeting of stockholders, the directors in Class II having a term expiring at the 2015 annual meeting of stockholders and the directors in Class III having a term expiring at the 2013 annual meeting of stockholders, and in all cases also continue as to each director until his or her successor is elected and qualified.

 

(ii) At each annual meeting of stockholders beginning with the 2013 annual meeting of stockholders, the successors to the class of directors whose term shall then expire shall be elected to hold office for a term expiring at the next succeeding annual meeting of stockholders and until their successors shall be elected and qualified and, effective with the 2015 annual meeting of stockholders, the classification of the board of directors shall be eliminated and all directors thereafter shall be elected annually. Vacancies on the board of directors, for any reason, and newly created directorships resulting from any increase in the authorized number of directors may be filled by (i) the stockholders at an annual

 

 

 

 


 

or special meeting, as provided in the by-laws or (ii) the affirmative vote of a majority of the board of directors then in office, although less than a quorum, or by a sole remaining director.  So long as the board of directors consists of classes of directors, any person appointed to fill a vacancy shall be designated by the board of directors as either a Class I, Class II or Class III director, with a term that expires as set forth above; provided that the directors in each class shall be as nearly equal in number as possible. No decrease in the number of directors shall have the effect of shortening the term of any incumbent director.

 

Subject to the rights of any class or series of stock having a preference over the Common Stock as to dividends or upon liquidation to elect directors under specified circumstances, no director may be removed from office without cause.

 

3.           This Certificate of Amendment was duly adopted by the stockholders of the Corporation in accordance with the applicable provisions of Section 242 of the General Corporation Law of the State of Delaware and Article Nine of the Corporation's Second Amended and Restated Certificate of Incorporation.

 

 

 

 

 


 

 

IN WITNESS WHEREOF, Buckeye Technologies Inc. has caused this Certificate of Amendment to be signed this 24th day of October, 2012.

 

 

 

BUCKEYE TECHNOLOGIES INC.

 

 

 

 

By:

 /s/ Sheila Jordan Cunningham

 

 

 

Sheila Jordan Cunningham

 

 

 

Senior Vice President, General Counsel and

 

 

 

Corporate Secretary

 

 

[As Filed: 10-25-2012]