Document:

Second Amendment to Lease

 Exhibit 10.20A 
 SECOND AMENDMENT TO LEASE 
 This Second Amendment to Lease (the “Amendment”) is
entered into this 3rd day of March, 2009, by and between Brandywine Acquisition Partners LP, a Delaware limited partnership (“Landlord”), and SolarWinds Worldwide, LLC, a Delaware limited liability company, successor in interest to
SolarWinds.net, Inc., an Oklahoma corporation (“Tenant”). 
 WITNESSETH 
 WHEREAS, Landlord and Tenant entered into that certain Lease Agreement (the “Original
Lease”) dated February 6, 2008, whereby Landlord leased to Tenant certain premises consisting of approximately 65,800 square feet of Rentable Area (the “Original Premises”) designated as Suite 100 and comprising a portion of the
first (1st) floor consisting of approximately 2,203 square feet of Rentable Area and the entire third (3rd), fourth (4th) and fifth (5th) floors consisting of approximately 21,195 square feet of Rentable Area, 21,195 square feet of Rentable Area and 21,207 square feet of Rentable Area, respectively, of the
building known as Building Two (the “Building”) located at 3711 South Mo-Pac Expressway, Austin, Texas 78746; 
 WHEREAS, Landlord
and Tenant entered into that certain First Amendment to Lease dated April 8, 2008 (the “First Amendment”), whereby Landlord agreed to modify certain Letter of Credit Requirements (as defined in the First Amendment) pursuant to the
terms and conditions set forth in said First Amendment; 
 WHEREAS, the Original Lease, as modified by the First Amendment, is hereafter
referred to as the “Lease”, which by this reference, the Lease is incorporated herein for all purposes; and 
 WHEREAS, Landlord
and Tenant have agreed to expand the Original Premises and otherwise modify the Lease as hereinafter provided. 
 NOW, THEREFORE, for and in
consideration of the mutual terms and conditions expressed herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Premises. 
 A. Effective as of July 1, 2009 (the “First Expansion Premises Commencement Date”), Landlord and Tenant agree that the Original Premises shall be expanded by the addition of approximately 20,228 square
feet of Rentable Area in the aggregate located on either or both of the first (1st) and second (2nd) floors of the Building (the “First Expansion Premises”). Commencing on the First Expansion Premises Commencement Date, the Original Premises, as expanded by the
First Expansion Premises, shall be referred to as the “Premises” for all purposes under the Lease, and all references in the Lease to the “Premises” from and after the First Expansion Premises Commencement Date shall refer to the
Original Premises and the First Expansion Premises and shall equal a total of approximately 86,028 square feet of Rentable Area. 
  

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 B. Effective as of January 1, 2010 (the
“Second Expansion Premises Commencement Date”), Landlord and Tenant agree that the Premises shall be expanded by the addition of the remaining approximately 16,559 square feet of Rentable Area located on the first (1st) and second (2nd) floors, as applicable, of the
Building (the “Second Expansion Premises”). Commencing on the Second Expansion Premises Commencement Date, the Premises, as expanded by the Second Expansion Premises, shall be referred to as the “Premises” for all purposes under
the Lease, and all references in the Lease to the “Premises” from and after the Second Expansion Premises Commencement Date shall refer to the Premises (as described in Section 1A above) and the Second Expansion Premises and shall
equal a total of approximately 102,587 square feet of Rentable Area. 
 C. The First Expansion Premises and the Second Expansion
Premises are referred to herein collectively as the “Expansion Premises”. The Expansion Premises shall be leased to Tenant under all of the terms and provisions contained in the Lease, except as otherwise provided in this Amendment.

 D. Effective as of the Second Expansion Premises Commencement Date, the total Rentable Area of the Premises and the total Rentable Area of
each floor of the Premises shall be deemed to be in the amounts set forth below, notwithstanding anything to the contrary in the Lease or this Amendment: 
  

			
	 AREA
	  	 SQUARE FEET OF RENTABLE AREA

	 Premises
	  	102,587
	 1st floor
	  	18,762
	 2nd floor
	  	20,228
	 3rd floor
	  	21,195
	 4th floor
	  	21,195
	 5th floor
	  	21,207

 E. Landlord shall deliver, and Tenant shall accept, the Expansion Premises in its “AS-IS,
WHERE-IS, WITH ALL FAULTS” condition as of the date of delivery of possession to Tenant of any portion of the Expansion Premises in accordance with Article 4 of the Original Lease, subject to the provisions of Section 10 of this Amendment.
Other than as expressly provided in this Amendment, Tenant may not enter any portion of the Expansion Premises prior to the applicable commencement date for such portion of the Expansion Premises, and any such early entry shall only be for the
purpose(s) set forth in this Amendment and shall be subject to all of the terms of the Lease except the payment of Rent. No early entry in accordance with this Amendment shall change the First Expansion Premises Commencement Date or the Second
Expansion Premises Commencement Date, as applicable, or the Expiration Date (as defined in Section 2 below). 
 2. Term. The Term
of the Lease with respect to the Original Premises expires on May 31, 2016 (the “Expiration Date”) as provided in the Original Lease. The term of the Lease with respect to the First Expansion Premises shall commence on the First
Expansion Premises Commencement Date and, unless the Lease is sooner terminated as provided therein, shall 
  

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 continue through 11:59 p.m. on the Expiration Date. The term of the Lease with respect to the Second Expansion
Premises shall commence on the Second Expansion Premises Commencement Date and, unless the Lease is sooner terminated as provided therein, shall continue through 11:59 p.m. on the Expiration Date. Pursuant to the foregoing, the Term of the
Lease with respect to the entire Premises (including the Original Premises and the Expansion Premises) shall be coterminous. 
 3.
Rent. 
 A. Commencing on the execution of this Amendment by Landlord and Tenant, Fixed Rent for the Original Premises payable, on the
first day of each calendar month during the Term, for the Term of the Lease shall continue to be paid at an initial Fixed Rent rate of $20.50 per square foot per annum of Rentable Area contained within the Original Premises as provided in the
Original Lease, which annual Fixed Rent rate shall increase by Fifty Cents ($0.50) per square foot per annum of Rentable Area contained within the Original Premises on June 1, 2009. 
 B. Commencing on the First Expansion Premises Commencement Date, Fixed Rent for the Premises (or such portion of Rentable Area then constituting the
Premises as provided in this Amendment) payable, on the first day of each calendar month during the Term, for the Term of the Lease shall be paid in the amounts set forth below: 
  

					
	 Dates
	  	 Monthly Fixed Rent
	  	 Annual Fixed Rent

	 7/1/09 – 12/31/09
	  	$142,964.00	  	$1,715,568.00
	 1/1/10 – 5/31/10
	  	$165,732.00	  	$1,988,784.00
	 6/1/10 – 5/31/11
	  	$170,007.00	  	$2,040,084.00
	 6/1/11 – 5/31/12
	  	$174,281.00	  	$2,091,372.00
	 6/1/12 – 5/31/13
	  	$178,556.00	  	$2,142,672.00
	 6/1/13 – 5/31/14
	  	$182,830.00	  	$2,193,960.00
	 6/1/14 – 5/31/15
	  	$187,104.00	  	$2,245,248.00
	 6/1/15 – 5/31/16
	  	$191,379.00	  	$2,296,548.00

 4. Operating Costs. Commencing on the date of the execution of this Amendment by Landlord
and Tenant and continuing through the Expiration Date, Tenant shall pay Tenant’s Allocated Share of Operating Expenses and Taxes for all portions of the Premises subject to the Lease from time to time during the Term (including any portion of
the Expansion Premises then constituting a portion of the Premises) in accordance with Article 6 of the Original Lease. Operating Expenses and Taxes are estimated to be $9.95 per square foot of Rentable Area of the Premises for the year ending
December 31, 2009. Upon Tenant’s request, but subject to Landlord’s direction and operation, Tenant shall have the ability to control the operating hours for the HVAC system for the Building. Tenant shall pay for the actual cost of
all after hours HVAC usage for the Building as provided in Article 7 of the Original Lease. Notwithstanding anything contained in this Section 4, Tenant shall have no right to directly access or operate the HVAC system for the Building.

  

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 5. Tenant’s Allocated Share. Effective as of the First Expansion Premises Commencement Date,
Tenant’s Allocated Share, as set forth in Section 1(i) of the Original Lease, shall equal 83.86% from the First Expansion Premises Commencement Date through December 31, 2009. Effective as of the Second Expansion Premises Commencement
Date, Tenant’s Allocated Share, as set forth in Section 1(i) of the Original Lease (as amended by this Section 5), shall equal 100% from the Second Expansion Premises Commencement Date through the Expiration Date. 
 6. Signage. Tenant shall have the right to make changes to Tenant’s Façade Signage in accordance with the criteria and requirements
set forth on Exhibit “B” attached hereto and made a part of the Lease for all purposes, Tenant’s Monument Signage in accordance with the criteria and requirements set forth on Exhibit “F” attached hereto
and made a part of the Lease for all purposes and Tenant’s identification signage on all entrance doors to the Building in accordance with the criteria and requirements set forth on Exhibit “C” attached hereto and made a part
of the Lease for all purposes (provided, however, Tenant may install Tenant’s lettering and logo on side entry doors to the Building at Tenant’s discretion and cost as provided in Exhibit “E” attached hereto and made a
part of the Lease for all purposes). Tenant’s Façade Signage may be backlit using LED lights. At Tenant’s cost, all lighting for the exterior of the Building and Tenant’s signage as provided in the Lease (as amended by this
Amendment) shall remain lit beyond Working Hours, subject, however, to any interruption with respect to any such lighting resulting from any casualty, condemnation, necessary maintenance or repair or event of force majeure. This Section 6 and
all signage rights of Tenant remain subject in all respects to the provisions of Section 8(a) of the Original Lease. 
 7.
Parking. Effective as of the First Expansion Premises Commencement Date and the Second Expansion Premises Commencement Date, respectively, Tenant, in accordance with Section 8(g) of the Original Lease, shall be entitled to take, at no
charge during the initial Term, four (4) parking spaces per 1,000 square feet of Rentable Area then constituting the Premises, with eighty percent (80%) of such spaces being unassigned parking spaces in the parking areas to be used in
common with others entitled to park in the parking areas and twenty percent (20%) of such spaces designated as full size, reserved parking spaces (in a location designated by Landlord) in the parking areas. Commencing on the Second Expansion
Premises Commencement Date, Tenant shall have exclusive access to, and the right to utilize, each and every parking space in the Building Two parking garage, including the right to designate assigned and unassigned parking spaces as Tenant chooses.
No other Project tenant, or any invitee or visitor of any other Project tenant, shall be permitted to park in the Building Two parking garage. Tenant’s right to use the parking spaces set forth in this Section 7 is subject to all
applicable terms and provisions of the Lease governing the use of parking spaces. 
 8. Lease Provisions. 
 A. Section 1(j) of the Original Lease is hereby revised to stipulate that the Rentable Area of
the Premises is 65,800 square feet (consisting of 2,203 square feet of Rentable Area on the first (1st) floor, 21,195 square feet of Rentable
Area on the third (3rd) floor, 21,195 square feet of Rentable Area on the fourth (4th
) floor and 21,207 square feet of Rentable Area on the fifth (5th) floor of the Building) and
the Rentable Area of the Building is 102,587 square feet. 
  

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 B. The first notice address for Landlord set forth in Section 1(m) of the Original Lease is hereby
deleted from the Lease in its entirety and replaced with the following: 
 Brandywine Acquisition Partners LP 
 1501 South MoPac Expressway, Suite 310 
 Austin, Texas 78746 
 Attention: Property Manager 
 9. Additional Security. 
 A. As additional security for Tenant’s obligations under the Lease,
Tenant shall cause JPMorgan Chase to issue an amendment to the Existing LC Documents (as defined in the First Amendment) (the “2/09 LC Amendment”), which 2/09 LC Amendment shall be in form and substance similar to the
LC Amendment (as defined in the First Amendment) attached as Exhibit H to the First Amendment, shall be subject to Landlord’s reasonable approval and shall increase the Letter of Credit amount under the Existing LC Documents by
an additional $500,000.00. The effectiveness of this Amendment is conditioned upon Tenant delivering the fully executed 2/09 LC Amendment (meeting the requirements set forth in the preceding sentence) to Landlord within ten (10) business
days after the execution of this Amendment by Landlord and Tenant. If Tenant fails to deliver the 2/09 LC Amendment to Landlord within such ten (10) business day period as required by this Section 9, this Amendment shall be null and
void and of no further force or effect, and Tenant shall continue to occupy the Original Premises in accordance with the terms of the existing Lease. 
 B. Section 5(c)(ii) of the Original Lease providing for the reduction of the Letter of Credit is hereby revised so that “$1,058,333” is replaced with “$1,411,111” in subsection (i),
“$616,666” is replaced with “$822,221” in subsection (ii) and “$175,000” is replaced with “$233,333” in subsection (iii) thereof. 
 C. The terms and conditions of the Existing LC Documents shall continue in full force and effect, except to the extent modified by the 2/09 LC
Amendment and this Amendment. 
 10. Leasehold Improvements. 
 A. Except as otherwise provided herein, the construction, installation and/or modification of Leasehold Improvements (as defined in this Section 10A
below) in the Expansion Premises shall be governed by Exhibit “D” to the Original Lease; provided, however, solely with respect to Landlord’s Work for any portion of the Expansion Premises, (i) all references to
“Premises” in Exhibit “D” to the Original Lease shall be replaced with “Expansion Premises”; (ii) all references to “Leasehold Improvements” in Exhibit “D” to the Original Lease
shall mean the leasehold improvements to be completed in the Expansion Premises; (iii) all references to “Lease” in Exhibit “D” to the Original Lease shall mean the Lease as defined in this Amendment and as modified
by the provisions of this Amendment; (iv) Section 2.01 of Exhibit “D” to the Original Lease is replaced with Section 2.01 attached hereto as Exhibit “A”  
  

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 and made a part hereof for all purposes; (v) because Landlord’s obligation to fund the amount of Tenant’s
Allowance set forth in Section 3.01 of Exhibit “D” to the Original Lease has expired, all references to “Tenant’s Allowance” shall mean the Tenant’s Allowance amount set forth in Section 10B below; and
(vi) notwithstanding the last sentence of Section 3.01 of Exhibit “D” to the Original Lease, Tenant’s Allowance shall only be available to Tenant during the period commencing with the date of the execution of this
Amendment by Landlord and Tenant and terminating on January 31, 2010 (the “Outside Allowance Date”). 
 B. Landlord hereby
grants Tenant an allowance of up to $1,471,480.00 (“Tenant’s Allowance”) (which amount is equal to $40.00 per square foot of Rentable Area of the Expansion Premises) to be used only towards the costs set forth in Section 3.01 of
Exhibit “D” to the Original Lease (as modified by this Amendment). Prior to the Outside Allowance Date, any portion of Tenant’s Allowance which has not been funded by Landlord pursuant to Article 2 of Exhibit
“D” to the Original Lease (as modified by this Amendment) may be used by Tenant for the purposes set forth in Section 3.01 of Exhibit “D” to the Original Lease (as modified by this Amendment) in other portions of
the Premises, the result of which is that the entire Tenant’s Allowance may be expended on any portion of the Premises; provided, however, in no event shall Tenant leave any portion of the Expansion Premises or the Original Premises in shell
condition, and Tenant shall build out all portions of the Expansion Premises in a manner consistent with Tenant’s build out of the Original Premises. Notwithstanding anything contained in this Amendment to the contrary, in no event shall
Landlord be obligated to fund more than $1,471,480.00 in the aggregate with respect to Tenant’s Allowance. After the Outside Allowance Date, unfunded portions of Tenant’s Allowance shall be unavailable to Tenant and shall remain the
property of Landlord. As an additional Alteration separate from Landlord’s Work, Tenant, subject to Landlord’s prior written approval (such approval not to be unreasonably withheld or delayed) and the provisions of Article 10 of the
Original Lease, shall have the right to convert the existing ground floor lobby of the Building into Tenant’s reception area, including any changes that Tenant desires to make to the existing finishes contained within the ground floor lobby of
the Building, and Tenant’s Allowance shall be available to Tenant to offset the cost of such Alteration (any such work being referred to herein collectively as the “Tenant’s Lobby Work”). 
 C. Landlord shall not be obligated to make, and Tenant shall not be authorized to make, any additional improvements or alterations to the Expansion
Premises or the Original Premises except as contemplated in this Amendment or as provided in, and in accordance with, the Lease. 
 D. For
the purposes of the Lease, as modified by this Amendment, with respect to the Expansion Premises, references to “Landlord’s Work” in the Lease shall mean the Landlord’s Work performed for the Expansion Premises pursuant to the
terms of this Section 10 of this Amendment. In addition, notwithstanding anything to the contrary contained in the Lease or this Amendment, in no event shall Tenant be required to perform removal (or pay for the cost of removal) of the
Tenant’s Lobby Work set forth on Exhibit “D” attached hereto and made a part of the Lease for all purposes (subject, however, to minor, non-material modifications in color and design by Tenant, so long as any such
modification is substantially in accordance with said Exhibit “D”) at the end of the Term pursuant to Article 10 of the Original Lease or otherwise. 
  

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 11. Assumption. In accordance with Section 12(j) of the Original Lease, SolarWinds Worldwide,
LLC, by its signature to this Amendment, hereby acknowledges and agrees that it has assumed and agreed to perform all of the obligations of the “Tenant” under the Lease (as amended by this Amendment) and has a net worth at least equal to
that of SolarWinds.net, Inc. immediately prior to the assignment of the Lease from SolarWinds.net, Inc. to SolarWinds Worldwide, LLC. 
 12.
Additional Rights and Requirements. Exhibit “E” attached hereto and made a part of the Lease for all purposes sets forth certain additional rights and requirements of Landlord and Tenant. The parties agree to comply with the
provisions set forth in said Exhibit “E”. 
 13. Brokerage. Upon the execution of this Amendment by Landlord and
Tenant, Landlord shall pay Commercial Texas, LLC (“Broker”) a brokerage commission pursuant to a separate written agreement between Landlord and Broker. 
 14. Governing Law. This Amendment shall be governed in all respects by the laws of the State of Texas. 
 15. Amendment. The Lease, as hereby amended, is hereby ratified and confirmed and shall continue in full force and effect. 
 16. Capitalized Terms. All capitalized terms not otherwise defined herein shall have the meanings ascribed to said terms in the Lease. 
 17. Counterparts. The parties hereto may execute this Amendment in one or more identical counterparts, all of which when taken together will constitute one and the same instrument. Copied or telecopied
signatures may be attached hereto and shall have the same binding and legal effect as original signatures. 
 [SIGNATURES FOLLOW]

  

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 IN WITNESS WHEREOF, the parties have executed this Amendment effective as of the date first set forth
above. 
 LANDLORD: 
 Brandywine Acquisition Partners LP,

 a Delaware limited partnership 
  

			
	 By:
	 	BDN Properties I Inc., a Delaware
		 	corporation, general partner
		
	 By:
	 	 /s/    William D. Redd

	 Name:
	 	William D. Redd
	 Title:
	 	Senior Vice President and Managing Director

 TENANT: 
 SolarWinds Worldwide, LLC, 
 a Delaware limited liability company 
  

			
	 By:
	 	 /s/    Kevin Thompson

	 Name:
	 	Kevin Thompson
	 Title:
	 	President, COO & CFO

  

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 EXHIBIT “A” 
 REVISED SECTION 2.01 TO EXHIBIT “D” TO ORIGINAL LEASE 
 With
respect to any portion of the Expansion Premises for which Tenant requires a separate build-out, Tenant’s Space Planner shall prepare a space plan and specifications (in each instance, a “Space Plan”) for the completion of the
Leasehold Improvements in such portion of the Expansion Premises, which Space Plan shall be subject to Landlord’s reasonable approval. Tenant shall cause Tenant’s Space Planner to have a preliminary set of Construction Documents prepared
based on each Space Plan, and deliver same to Landlord’s Manager as soon as possible after Landlord’s approval of the applicable Space Plan. Landlord agrees to promptly review or cause Landlord’s Manager to review any such preliminary
set of Construction Documents and provide Tenant with its comments identifying the required revisions to same within five (5) business days after Landlord’s Manager’s receipt of such preliminary set of Construction Documents. Tenant
shall resubmit the applicable Construction Documents to Landlord’s Manager after making the required revisions thereto within three (3) business days after receipt of comments from Landlord or Landlord’s Manager. Landlord shall cause
Landlord’s Manager to prepare a Tenant Expenditure Authorization with respect to Landlord’s Work for such portion of the Expansion Premises and submit same to Tenant within two (2) business days after receipt of the revised
Construction Documents. Landlord will require Tenant’s approval of the applicable Tenant Expenditure Authorization prior to commencing Landlord’s Work with respect to such portion of the Expansion Premises, which approval shall be given or
denied by Tenant within three (3) business days after Tenant’s receipt of the applicable Tenant Expenditure Authorization. If Tenant fails to expressly disapprove the applicable Tenant Expenditure Authorization within such three
(3) business day time period, then Landlord’s Manager shall be authorized to proceed thereon. If Tenant disapproves the applicable Tenant Expenditure Authorization, it shall specify in reasonable detail the reasons for such disapproval;
however, such disapproval shall constitute a Tenant Delay. Provided that Tenant has approved (or is deemed to have approved) the applicable Tenant Expenditure Authorization within the above three (3) business day time period, Landlord agrees to
commence Landlord’s Work with respect to such portion of the Expansion Premises within five (5) business days after Landlord’s receipt of Tenant’s approval (or deemed approval) of the applicable Tenant Expenditure Authorization.
Except as otherwise provided in this Exhibit “D”, all costs for the preparation, approval and implementation of any Space Plan and any set of Construction Documents, including professional fees and the cost of Tenant’s Space Planner,
and the cost of Landlord’s Work shall be paid by Landlord, subject, however, to the amount of Tenant’s Allowance and Tenant’s payment of any Excess Costs. 
  

 Exhibit “A” 

 EXHIBIT “B” 
 FAÇADE SIGNAGE 
 Attached. 
  

 Exhibit “B” 

 EXHIBIT “C” 
 IDENTIFICATION SIGNAGE ON ENTRANCE DOORS TO THE BUILDING 
 Attached.

  

 Exhibit “C” 

 EXHIBIT “D” 
 TENANT’S LOBBY WORK 
 Attached. 
  

 Exhibit “D” 

 EXHIBIT “E” 
 ADDITIONAL RIGHTS AND REQUIREMENTS 
  

	1.	Replace walkway between the Building and the parking garage with flagstone. 

	2.	Move and exchange the selected artwork from Building One to the Building. Tenant will not be charged for repairs to walls or fees for hanging artwork. 

	3.	Remove lobby directory and repair removal area. 

	4.	Lighting in parking garage – will rectify on an as needed basis in key areas indentified in after hours tour of parking garage. 

	5.	Tenant may use furniture and artwork in current lobby area of the Building and will return all such items to Landlord in good condition (reasonable wear excepted) at the end of the
Term. 

	6.	Remove artwork from restrooms on first (1st) and second (2nd) floors of the Building and repair walls. Artwork will be used in other areas of the Building by Tenant.

	7.	Security cameras and/or systems can be installed at Tenant’s sole cost and liability. 

	8.	Exclusive security at the Building can be provided at Tenant’s request and will be included as an additional Operating Expense. 

	9.	Side entry doors – Tenant’s lettering and logo may be installed at Tenant’s discretion and cost. 

 The below items are to be addressed/repaired by Landlord, at Landlord’s expense, upon the execution of this Amendment by Landlord and Tenant in order to bring such
items into Building standard condition. Once the below items have been addressed/repaired by Landlord as provided in the preceding sentence, the cost of any subsequent maintenance or repair with respect to any such item shall be treated as an
Operating Expense. 
  

	1.	Improve landscape in cistern area. 

	2.	Repair broken cement around parking garage area and Building entry. 

	3.	Repair and mounting of parking bumpers. 

  

 Exhibit “E” 

 EXHIBIT “F” 
 MONUMENT SIGNAGE 
 Attached. 
  

 Exhibit “F”Offer by UBS AG Relating to Auction Rate Securities

 Exhibit 10.39 
  

					
	

	  	 	  	UBS Financial Services Inc.
	  		  	1200 Harbor Boulevard
	  		  	Weehawken, NJ 07086
			
		  		  	James M. Pierce
		  		  	Co-Head
		  		  	Wealth Management Advisor Group US
			
		  		  	James D. Price
		  		  	Co-Head
	RADISYS CORPORATION	  		  	Wealth Management Advisor Group US
	ATTN: BARB DOOLIN	  		  	
	5445 N.E. DAWSON CREEK DRIVE	  		  	www.ubs.com
	HILLSBORO OR 97124-5797	  		  	
			
		  		  	October 8, 2008
			
		  		  	Branch Telephone Number
		  		  	+1-206-628-8511
			
		  		  	Account Number: WI 10802

 We are pleased to offer you a way to liquidate certain of your auction rate securities (ARS). UBS has designed a
solution that gives you the option to hold your ARS or sell the securities back to UBS. This solution is available for ARS that were held in a UBS account on February 13, 2008, and that are not successfully clearing at auction (Eligible ARS).

 UBS is offering you “Auction Rate Securities Rights” (Rights) to sell Eligible ARS at par value to UBS at any time during a two-year time
period. These Rights are nontransferable securities registered with the U.S. Securities and Exchange Commission (SEC). This is a limited time offer that will expire on November 14, 2008. Accepting this offer may impact your legal rights. Not
accepting this offer may have repercussions on outstanding loans secured by Eligible ARS. As a result, it is important that you review the prospectus carefully. 
 The key features and terms of the offer are summarized below. For complete details, please see the enclosed prospectus. 
  

	•	 	 UBS is offering you nontransferable Rights to sell Eligible ARS, held in the UBS account identified above, at par value to UBS at any time during the period of
June 30, 2010, through July 2, 2012. 

  

	 	•	 	 You may instruct your UBS Financial Advisor to exercise these Rights at any time during this time period; 

  

	 	•	 	 If you do not exercise your Rights, the Eligible ARS will continue to accrue interest or dividends as determined by the auction process;

  

	 	•	 	 If you do not exercise your Rights before July 2, 2012, they will expire and UBS will have no further obligation to buy your Eligible ARS.

  

	•	 	 Clients who accept this offer give UBS the discretion to purchase or sell their Eligible ARS at any time after accepting the firm’s offer and without other
prior notice. 

  

	 	•	 	 UBS will purchase tax-exempt Auction Preferred Stock (a specific type of ARS also known as APS) at any time after clients accept the firm’s Rights offer;

  

	 	•	 	 UBS will only exercise its discretion to purchase or sell Eligible ARS for the purpose of restructurings, dispositions or other solutions that will provide clients
with par value for their Eligible ARS; 

  

	 	•	 	 In purchasing Eligible ARS or selling Eligible ARS on behalf of clients, including tax-exempt APS, UBS will act in its capacity as broker-dealer and will execute
these transactions on a principal basis regardless of the type of client accounts in which the Eligible ARS are held. Please see pages 27-28 in the enclosed prospectus for more information; 

  

	 	•	 	 UBS will pay clients par value for their Eligible ARS within one day of settlement of the transaction; 

  

	 	•	 	 Eligible ARS are subject to issuer redemptions at any time. 

 UBS AG has filed a registration statement (Including a prospectus) with the SEC for the offering to which this communication relates. Before you make an Investment decision, you should read the prospectus in that registration statement and
other documents that UBS has filed with the SEC for more complete Information about UBS and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov or by calling UBS’s ARS Client Service
Center at +1-800-253-1974. 
  

			
	UBS Financial Services Inc. and UBS International Inc. are subsidiaries of UBS AG.	  	1C-ARS0

			
		  	UBS Financial Services Inc.
	

	  	

  

	•	 	 Clients who accept this offer release UBS and its employees/agents from all claims except claims for consequential damages directly or indirectly relating to its
marketing and sale of ARS and expressly agree not to seek any damages or costs (punitive damages, attorney fees, etc.) other than consequential damages. Clients also will not serve as a class representative or receive benefits under any class action
settlement or investor fund. 

  

	•	 	 UBS will provide clients who accept the offer “no net cost” loans up to the par value of Eligible ARS until June 30, 2010. Please see pages 36-39 in
the enclosed prospectus for more information. 

  

	•	 	 UBS will reimburse all clients who participated in prior UBS ARS loan programs after February 13, 2008, for the difference between the cost of the loan and the
applicable interest paid on the Eligible ARS. 

 THIS OFFER EXPIRES ON NOVEMBER 14, 2008. Please complete, sign and date the
enclosed form and return it in the postage-paid envelope if you wish to accept this offer. We must receive your signed acceptance form no later than November 14, 2008. 
 You may receive multiple letters from us depending on the type of ARS you own or if you have ARS in multiple accounts. Please note you must return a form for each letter you receive to
accept all available offers relating to your ARS holdings. Please read each response form carefully as the terms may vary. 
 A list of your
Eligible ARS in the account identified on the first page of this letter is attached. Additional information about your Eligible ARS, including the most recent interest rates and dividend yields, is available at www ubs.com/auctionratesecurities.

 If you have any questions about your Eligible ARS or this offer, please contact your UBS Financial Advisor or Branch Manager at the telephone number
listed at the top of this letter. Please note that UBS Financial Advisors and Branch Managers cannot provide legal or tax advice regarding this offer. Instructions to exercise your Rights should be directed to your UBS Financial Advisor or Branch
Manager. 
 We regret any hardship that the failure of the ARS markets may have caused you. We hope that the offer described above and discussed in detail in
the prospectus provides resolution for you regarding this matter. We look forward to continuing our relationship with you and to serving your future investment needs. 
 Thank you for your business and for maintaining your relationship with UBS. 
  

			
	Sincerely,	  	 
		
	 

	  	 

	James M. Pierce	  	James D. Price

 UBS Financial Servicer Inc. serves as the clearing firm for UBS International Inc. Accordingly, the information
and terms contained in this letter and the accompanying materials are directed to clients of both UBS Financial Services Inc and UBS International Inc. 
  

			
	UBS Financial Services Inc. and UBS International Inc. are subsidiaries of UBS AG.	  	1C-ARS0

 Current rate and dividend information 
 To allow you to view the current interest rates and/or dividends your holdings are earning, we have created an online tool available at www.ubs.com/auctionratesecurities. 
 Simply enter the nine-digit CUSlP number(s) shown below to obtain the most current information about your securities. 
 Percentages displayed in the descriptions below are as of September 30, 2008. 
  

											
	 CUSIP
	  	 Description
	  	 CUSIP
	  	 Description
	  	 CUSIP
	  	 Description

	00432CAR2	  	ACCESS GROUP INC NTS BE/R/ RATE 03.485% MATURES 09/01/37	  	194262CZ2	  	COLLEGE LN CORP TR 1 02 TXBL ABS ARCS SR BE/R/ VARIABLE RATE RATE 05.426% MATURES 11/01/47	  	207784AH2	  	CONNECTICUT STUDENT LN F NDTN RV SER A-2 REV /R/ VARIABLE RATE RATE 03.989% MATURES 06/01/34
						
	452281HU5	  	ILLINOIS STU ASSlST VIII 5 28DY ARC RV TXBL BE/R/ VARIABLE RATE RATE 04.248% MATURES 03/01/45	  	452281HV3	  	ILLINOIS STU ASSIST VIII 6 28DY ARC RV TXBL BE/R/ VARIABLE RATE RATE 04.201% MATURES 03/01/45	  	454905AZ3	  	INDIANA SECOND MKT EDL SER 2004- REV STUDE /R/ VARIABLE RATE RATE 05.126% MATURES 09/01/44
						
	455900BJ8	  	INDIANA SECNDRY MRKT EDU SER 1 REV TAXABLE B/E/R/ VARATE PUTBND RATE 02.486% MATURES 12/01/47	  	49130NAB5	  	KENTUCKY HIGHER ED STUD LN INS RV ARCS SER A2/R/ VARIABLE RATE RATE 03.323% MATURES 5/01/28	  	49130NBE8	  	KENTUCKY HGHR ED STUD LN SER A-4 REV TXBL BE/R/ VARIABLE RATE RATE 03.920% MATURES 06/01/35
						
	49130NBP3	  	KENTUCKY HIGHER ED S/L SER A-5 RV TXBL B/E /R/ VARIABLE RATE RATE 03.970% MATURES 06/01/36	  	606072GF7	  	MISSOURI HGR EDUC LN SER C REV TAXABLE B/E/R/ VARIABLE RATE RATE 02.525% MATURES 06/01/31	  	644616AQ7	  	NEW HAMPSHIRE HGHR ED LN CRP ARCS AlRV TXBL BE/R/ VARIABLE RATE RATE 00.000% MATURES 12/01/36
						
	66704JAF5	  	NORTHSTAR GTEE INC DIVISION B TXBLE /R/ VARIABLE RATE RATE 03.156% MATURES 04/01/42	  	709163BX6	  	PA ST H/E ASST AGY REV. SER F-1 RV TAXABLE BE/R/ VARIABLE RATE RATE 04.220% MATURES 10/01/40	  	709163CE7	  	PA ST H/E ASST AGY SR SR J-4 REV TAXABLE B/E /R/ VARATE PUTBND RATE 03.523% MATURES 12/01/40
						
	917546GH0	  	UTAH ST BRD OF REGT S/L 28D TXBL 2006 DD-1 /R/ VARIABLE RATE RATE 03.911% MATURES 05/01/46	  	917546GJ6	  	UTAH ST BRD OF REGT S/L 28D TXBL 2006 DD-2 /R/ VARIABLE RATE RATE 03.781% MATURES 05/01/46	  		  	

					
	 

	  	UBS Financial Services Inc.	  	

 Please complete and sign this form. 
 We must receive it by November 14, 2008. 
  

	
	Acceptance of UBS’s offer relating to auction rate securities

 By signing below and returning this form, I accept UBS’s offer of Rights relating to my
Eligible ARS in the account listed below. I understand and acknowledge the following: 
  

	 	•	 	 All Eligible ARS must remain in my UBS account listed below until I exercise my Rights to sell my Eligible ARS to UBS or they are redeemed by the issuer or
purchased or sold on my behalf by UBS; 

  

	 	•	 	 I will instruct my UBS Financial Advisor or Branch Manager if and when I want to exercise my Rights and sell my Eligible ARS to UBS during the period of
June 30, 2010, through July 2, 2012; 

  

	 	•	 	 The acceptance of UBS’s offer constitutes consent (to the extent legally required) for UBS, acting as principal, to purchase my Eligible ARS or to sell them on
my behalf at any time in its sole discretion and without other prior notice to me, from the date that I accept this offer through July 2, 2012; 

  

	 	•	 	 If UBS purchases, sells or otherwise disposes of my Eligible ARS, it will deposit the par value in my account within one business day of settlement of the
transaction; 

  

	 	•	 	 I release UBS and its employees/agents from all claims except claims for consequential damages directly or indirectly relating to its marketing and sale of ARS and
expressly agree that I will not seek any damages or costs (punitive damages, attorney fees, etc.) other than consequential damages. I also will not serve as a class representative or receive benefits under any class action settlement or investor
fund; 

  

	 	•	 	 If the account named below is in the name of a corporation, partnership, trust or other entity, I represent and warrant that I have the power and authority to
accept this offer on behalf of that entity. 

  

							
		 		  	  
 Please complete and sign this form.
 We must receive it by November 14, 2008.

	RADISYS CORPORATION	 		  		  	
	ATTN: BARB DOOLIN	 		  		  	
	5445 N.E. DAWSON CREEK DRIVE	 		  	Mail	  	UBS Financial Services Inc.
	HILLSBORO OR 97124-5797	 		  		  	ATTN: ARS Group
		 		  		  	1000 Harbor Boulevard
		 		  		  	Weehawken, NJ 07086
		 		  		  	
	Account Number: WI 10802	 		  		  	
		 		  	 Fax
  
	  	+1-201-442-7766

  

											
	

	 	Account owner signature	 	 

	 		 	Date	 	 10-21-08

	 	  
 Additional party signature
	 	  
	 		 	Date	 	  

	 	  
 Daytime telephone number
	 	   503-615-1281
	 		 		 	

 If you have questions, please contact your UBS Financial Advisor or Branch Manager at
+1-206-628-8511. Clients outside the U.S. may call +1-201-352-0105 collect. 
 We kindly request that you do not include comments or
questions on this form as it could delay processing of your instructions. 
 UBS AG has filed a registration statement (including a
prospectus) with the SEC for the offering to which this communication relates. Before you make an investment decision, you should read the prospectus in that registration statement and other documents that UBS has filed with the SEC for more
complete information about UBS and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov or by calling UBS’s ARS Client Service Center at +1-800-253-1974. 
 UBS Financial Services Inc. serves as the clearing firm for UBS International Inc. Accordingly, the information and terms contained in this letter and
the accompanying materials are directed to clients of both UBS Financial Services Inc and UBS International Inc. 
  

			
	©2008 UBS Financial Services Inc. All rights reserved. Member SIPC.	  	1C-ARS0

 

 
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