Document:

<PAGE>

                      PREFERRED STOCK AND ESCROW AGREEMENT

     THIS PREFERRED STOCK AND ESCROW AGREEMENT (this "Agreement"), dated July
14, 2000, is by and among Worldwide Sports and Recreation, Inc., a Delaware
corporation (the "Purchaser"), Sunshine Acquisition, Inc., a newly formed New
York corporation and a wholly-owned subsidiary of the Purchaser ("Acquisition
Sub"), RBB Bank AG, a bank organized under the laws of Austria (the
"Preferred Holder"), and Baker & Hostetler LLP (the "Escrow Agent").

                                    RECITALS
                                    --------

     A.   Serengeti Eyewear, Inc., a New York corporation (the "Company"),
the Purchaser and Acquisition Sub are parties to that certain Agreement and
Plan of Merger, dated as of the date hereof (the "Merger Agreement"),
pursuant to which Acquisition Sub will make a cash tender offer to acquire
all of the issued and outstanding shares of common stock (collectively, the
"Common Shares") of the Company (the "Offer"). The Merger Agreement is
attached hereto as Exhibit A and incorporated herein by reference.

    B.   In accordance with the terms of the Offer and this Agreement,
Acquisition Sub shall deposit, within two (2) Business Days after the
acquisition of Common Shares pursuant to the Offer (the "Offer Closing") an
aggregate amount equal to $21,750,000 in cash and a note in the principal
amount of $1,000,000 in the form attached hereto as Exhibit B (the "Note")
(the "Escrow Deposit") with the Escrow Agent, which Escrow Deposit shall
represent the following: (1) $21,500,000 in cash, together with the Note,
shall represent the full redemption price to be paid for all of the issued
and outstanding shares of Preferred Stock of the Company, all of which are,
and at the closing of the Offer will be, held by the Preferred Holder
(including, but not limited to, any additional shares of Preferred Stock
issued as dividends on such shares between the date hereof and the date of
the closing of the Offer) (collectively, the "Preferred Shares"); and (2)
$250,000 shall represent the partial reimbursement of the Preferred Holder's
legal fees in connection with the Preferred Holder's litigation against the
Company in the case styled RBB Bank AG v. Serengeti Eyewear, Inc., et. al.,
SDNY Case No. 97 Civ.6444 (KMW) (the "Preferred Holder's Litigation").

     C.   The receipt by the Preferred Holder of the Escrow Deposit is
conditioned upon the delivery by the Preferred Holder to the Escrow Agent,
pursuant to the terms of this Agreement, of the original stock certificates
representing the Preferred Shares, duly executed in blank or accompanied by
stock powers duly executed in blank, and evidence that the Preferred Holder's
Litigation has been dismissed with prejudice.

     D.   The Preferred Holder desires to execute and to be bound by this
Agreement.

<PAGE>

                                   AGREEMENTS
                                   ----------
     In consideration of the recitals and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the parties hereto agree as follows:

     1.   DEFINITIONS. As used in this Agreement, all capitalized terms used,
but not otherwise defined, herein shall have the meanings attributed to such
terms in the Merger Agreement.

     2.   ESCROW DEPOSIT; PREFERRED STOCK.

          (a)   For the purposes herein set forth, the Purchaser and
Acquisition Sub hereby agree to deposit, or cause the Company to deposit, the
Escrow Deposit into escrow with the Escrow Agent within two (2) Business Days
after the date of the Offer Closing, in accordance with this Agreement. On
the day of the Offer Closing, the Purchaser and/or Acquisition Sub shall give
notice of such event to the Preferred Holder and the Escrow Agent by telecopy
delivery. The Escrow Deposit shall be held and disbursed by the Escrow Agent
in accordance with the terms of this Agreement.

          (b)   For the purposes herein set forth, the Preferred Holder
hereby agrees (i) to refrain from converting into Company common stock, or
transferring to a third party, any of the Preferred Shares from the date of
the Merger Agreement until the earlier of the date upon which the Preferred
Shares are deemed to have been redeemed in accordance with this Agreement or
the date upon which the Merger Agreement is terminated in accordance with its
terms, (ii) to deliver to the Escrow Agent at or prior to the Offer Closing
the original stock certificates representing the Preferred Shares, duly
executed in blank or accompanied by stock powers duly executed in blank
(collectively, the "Preferred Stock Certificates") and to deliver to
Purchaser's legal counsel copies of the Preferred Stock Certificates, (iii)
to take all actions necessary to cause the Preferred Holder's Litigation to
be dismissed with prejudice and to deliver evidence of such dismissal to the
Escrow Agent and Purchaser's legal counsel prior to the Preferred Holder's
receipt of the Escrow Deposit, (iv) that the Preferred Shares shall be deemed
to have been automatically and irrevocably redeemed and canceled for an
aggregate purchase price equal to $22,500,000 for all purposes upon the
payment to the Escrow Agent by the Purchaser, Acquisition Sub or the Company
of the Escrow Deposit and (v) that any and all options or warrants for
any shares of the Company's capital stock held by the Preferred Holder shall
be deemed to have been automatically and irrevocably canceled, without the
payment of any additional monies, for all purposes upon the payment to the
Escrow Agent by the Purchaser, Acquisition Sub or the Company of the Escrow
Deposit.

     3.   APPLICATION OF ESCROW DEPOSIT; DISPOSITION OF PREFERRED STOCK.

          (a)   The Escrow Deposit shall be held in escrow under the terms of
this Agreement and released by the Escrow Agent upon the following terms:

                                       2

<PAGE>

                (i)   Upon joint written notice and instructions from the
          Purchaser, Acquisition Sub and the Preferred Holder that the Escrow
          Deposit, or any portion thereof, should be disbursed, the Escrow
          Agent shall make such disbursement in accordance with the
          directions set forth in such joint written notice and instructions.

                (ii)  In the event that the Preferred Stock Certificates and
          evidence that the Preferred Holder's Litigation has been dismissed
          with prejudice have been delivered to the Escrow Agent and
          Purchaser's legal counsel in accordance with Section 2(b) above,
          the Escrow Agent shall disburse to the Preferred Holder the Escrow
          Deposit within two (2) Business Days after the later of the Escrow
          Agent's receipt of the Escrow Deposit or the date that the Escrow
          Agent and Purchaser's legal counsel have received both the Preferred
          Stock Certificates and evidence that the Preferred Holder's
          Litigation has been dismissed with prejudice.

          (b)   In the event that the Escrow Deposit has been paid to the
     Escrow Agent by the Purchaser, Acquisition Sub or the Company, the
     Preferred Stock Certificates shall be disbursed by the Escrow Agent to
     the Purchaser within one (1) Business Day after the later of the date the
     Preferred Shares shall have been deemed to have been redeemed in
     accordance with this Agreement or the date of delivery to the Escrow
     Agent and Purchaser's legal counsel in accordance with this Agreement of
     the Preferred Stock Certificates and evidence that the Preferred
     Holder's Litigation has been dismissed with prejudice.

          (c)   If the Escrow Deposit has not been paid to the Escrow Agent
     by the Purchaser, Acquisition Sub or the Company in accordance with
     Section 2(a) hereof, the Escrow Agent shall disburse the Preferred
     Stock Certificates to the Preferred Holder (if the Preferred Stock
     Certificates are then held by the Escrow Agent). Furthermore, in such
     case the obligations of the Preferred Holder under this Agreement shall
     automatically terminate with no further force or effect.

     4.   LIABILITY OF ESCROW AGENT.  The duties of the Escrow Agent
hereunder shall be limited to the observance of the express provisions of
this Agreement. The Escrow Agent shall not make any disposition of the Escrow
Deposit (or any portion thereof) which is not expressly authorized by this
Agreement. The Escrow Agent may rely upon and act upon any instrument
received by it pursuant to the provisions of this Agreement which it in good
faith believes to be genuine and in conformity with the requirements of this
Agreement. Except as expressly provided in this Agreement, the Escrow Agent
shall have no duty to determine or inquire into the happening or the
occurrence of any event or the performance or failure of performance of
either Acquisition Sub or the Preferred Holder with respect to arrangements
or contracts between them or with others. Notwithstanding anything in this
Agreement to the contrary, the Escrow Agent shall not be liable to any person
for anything which it may do or refrain from doing in connection with this

                                     3

<PAGE>

Agreement, unless the Escrow Agent's conduct constitutes gross negligence or
willful misconduct. Purchaser and Acquisition Sub hereby acknowledge and
agree that this Agreement and the Escrow Agent's duties hereunder shall not
restrict or prohibit the Escrow Agent from representing the Preferred Holder,
or any affiliate or client of the Preferred Holder, as legal counsel in any
matter, including without limitation the Preferred Holder's Litigation or any
matter pertaining to this Agreement.

        5.   MISCELLANEOUS.

             (a)   NOTICES.  All notices, demands or other communications to
        be given or delivered under or by reason of the provisions of this
        Agreement shall be delivered personally, sent by telecopy delivery
        (which is confirmed), sent by overnight courier or sent by certified
        or registered mail, postage prepaid. Any such notice shall be deemed
        given when so delivered personally, if sent by telecopy delivery, on
        the day sent (if receipt is confirmed), if sent by overnight courier,
        one (1) Business Day after delivery to the overnight courier, or, if
        mailed, three (3) Business Days after the date of deposit in the
        United States mail, as follows:

             If to the Preferred Holder, to:

                  RBB Bank, AG
                  Burgring 16
                  8010 Graz
                  Austria
                  Telecopy No.: 011-43/316/8072-392
                  Attention: Herbert Strauss

             with a copy to:

                  Baker & Hostetler LLP
                  65 East State Street, Suite 2100
                  Columbus, Ohio 43215
                  Telecopy No.: 614-462-2616
                  Attention: Joseph P. Boeckman, Esq.

             If to the Purchaser or Acquisition Sub, to:

                  Sunshine Acquisition, Inc.
                  Worldwide Sports and Recreation, Inc.
                  c/o Wind Point Partners
                  675 North Michigan Avenue
                  Suite 3300
                  Chicago, Illinois 60611
                  Telecopy No.: 312-255-4820
                  Attention: Richard Kracum

                                     4

<PAGE>

                  and

                  Sunshine Acquisition, Inc.
                  Worldwide Sports and Recreation, Inc.
                  c/o Wind Point Partners
                  One Towne Square
                  Suite 780
                  Southfield, Michigan 48076
                  Telecopy No.: 248-945-7220
                  Attention: Salam Chaudhary

             with a copy to:

                  Katten Muchin Zavis
                  525 West Monroe Street
                  Suite 1600
                  Chicago, Illinois 60661-3693
                  Telecopy No.: 312-902-1061
                  Attention: Steven V. Napolitano, Esq.

             If to the Escrow Agent, to:

                  Baker & Hostetler LLP
                  65 East State Street, Suite 2100
                  Columbus, Ohio 43215
                  Telecopy No.: 614-462-2616
                  Attention: Joseph P. Boeckman, Esq.

             with a copy to:

                  Katten Muchin Zavis
                  525 West Monroe Street
                  Suite 1600
                  Chicago, Illinois 60661-3693
                  Telecopy No.: 312-902-1061
                  Attention: Steven V. Napolitano, Esq.

Any party may change its address for notice by written notice given to the
other parties in accordance with this section. In cases where Purchaser,
Acquisition Sub and the Preferred Holder may give "joint written notice" to
the Escrow Agent, such notice may be given by separate instruments of similar
tenor.

     (b)  AMENDMENTS.  This Agreement may be amended, modified or
supplemented only by an instrument in writing executed by the Purchaser,
Acquisition Sub, the Escrow Agent and the Preferred Holder.

                                     5

<PAGE>

             (c)  ENTIRE AGREEMENT.  This Agreement constitutes the entire
        agreement of the parties regarding the subject matter hereof, and
        supersedes all prior agreements and understandings, both written and
        oral, among the parties, or any of them, with respect to the subject
        matter hereof.

             (d)  GOVERNING LAW.  This Agreement shall be governed by and
        construed in accordance with the internal laws of the State of
        Illinois concerning contracts made and to be wholly-performed in such
        State, without regard to its conflicts of law principles. In any
        action or suit to enforce any right or remedy under this Agreement or
        to interpret any provision of this Agreement, the prevailing party
        shall be entitled to recover its costs, including reasonable
        attorneys' fees.

             (e)  HEADINGS.  The headings in this Agreement are for reference
        only, and shall not affect the interpretation of this Agreement.

             (f)  COUNTERPARTS.  This Agreement may be executed in multiple
        counterparts, each of which shall be deemed an original, and all of
        which together shall constitute one and the same instrument.

                                  ********

                                     6

<PAGE>

                                    EXHIBIT A

                                 MERGER AGREEMENT

<PAGE>

                                    EXHIBIT B

                                   FORM OF NOTE<PAGE>

                                                                    EXHIBIT 10.1

                          REGISTRATION RIGHTS AGREEMENT

         This Registration Rights Agreement dated as of July 7, 2000 (the
"AGREEMENT") is by and among NetScout Systems, Inc., a Delaware corporation
("NETSCOUT"), the stockholders listed on the signature page hereto
(collectively, the "STOCKHOLDERS"), the holders of Warrants (as defined below)
listed on the signature page hereto (collectively, the "WARRANTHOLDERS") and
Silicon Valley Bank (the "BANK" and together with the Stockholders and the
Warrantholders, the "HOLDERS").

                                   WITNESSETH:

         WHEREAS, NetScout has entered into an Agreement and Plan of
Reorganization (the "MERGER AGREEMENT") dated as of the date hereof with
NetScout Service Level Corporation, NextPoint Networks, Inc. ("NEXTPOINT"), and
certain individuals, pursuant to which NextPoint will be merged with and into
Merger Sub (as defined in the Merger Agreement) (the "MERGER");

         WHEREAS, in the Merger, (a) the Stockholders will receive shares of
Common Stock, par value $.001 per share, of NetScout (the "COMMON STOCK") in
exchange for shares of capital stock of NextPoint now owned by the Stockholders
and (b) the Warrantholders will receive shares of Common Stock upon the exercise
of Warrants now held by the Warrantholders; and

         WHEREAS, the Holders desire to have, and NetScout is willing to grant
to the Holders, certain rights to have shares of Common Stock issued to the
Stockholders in the Merger or to the Warrantholders upon exercise of the
Warrants registered for resale to the public on the terms and subject to the
conditions set forth in this Agreement;

         WHEREAS, it is a condition of the Holders' willingness to agree to the
Merger that they be granted the rights set forth in this Agreement;

         NOW, THEREFORE, in consideration of these premises and the mutual
agreements, provisions and covenants contained in this Agreement and other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, NetScout and the Holders agree as follows:

                                    ARTICLE I

                          DEFINITIONS AND EFFECTIVENESS

         1.1 COMMON DEFINITIONS. Unless otherwise defined in this Agreement,
capitalized terms used in this Agreement that are defined in the Merger
Agreement shall have the meanings assigned to them in the Merger Agreement, and
the rules of construction and documentary conventions set forth in the Merger
Agreement shall apply to this Agreement.

<PAGE>

                     Registration Rights Agreement -- Page 2

         1.2 CERTAIN DEFINITIONS. For purposes of this Agreement, the following
terms shall have the meanings set forth below:

                  "EXCHANGE ACT" means the Securities Exchange Act of 1934, as
 amended.

                  "EXISTING REGISTRATION RIGHTS AGREEMENT" means the Amended and
Restated Rights Agreement dated as of January 15, 1999 by and between NetScout
and the persons listed in the signature pages thereto.

                  "EXISTING RIGHTSHOLDERS" means the stockholders of NetScout
who have registration rights under the Existing Registration Rights Agreement.

                  "REGISTRATION EXPENSES" means the expenses incurred by
NetScout in complying with Article II, including registration and filing fees,
securities exchange or market listing fees, printing expenses, fees and
disbursements of counsel for NetScout, state Blue Sky fees and expenses, the
fees and expenses of one counsel selected by the Holders to represent the
Holders and the expense of any special audits incident to or required by any
such registration, but excluding any underwriting commissions and discounts and
selling concessions and any stock transfer Taxes.

                  "REGISTRABLE SHARES" means any shares of Common Stock received
by the Holders in the Merger (including Escrow Shares and Holdback Shares which
are ultimately released to the Stockholders) or as a result of the exercise of
the Warrants, and any additional unregistered shares received by the Holders as
a stock dividend on the Registrable Shares, or pursuant to a stock split or
similar recapitalization of NetScout's Common Stock; PROVIDED, HOWEVER, that
"Registrable Shares" shall not include any such shares of Common Stock that as
of the date of the determination (x) have previously been sold by a Holder
pursuant to Rule 144 under the Securities Act or (y) may be sold either without
limitation pursuant to Rule 144(k) under the Securities Act or in a single
transaction without being affected by the volume limitations of Rule 144 under
the Securities Act.

                  "SECURITIES ACT" means the Securities Act of 1933, as amended.

                  "TRANSFER" means any offer to sell, sale, assignment, pledge,
transfer, contract to sell, grant of any option or other right to purchase,
grant of any ownership interest, or other disposition or change of legal, record
or beneficial ownership, whether direct or indirect, voluntary or involuntary.

                  "WARRANTS" collectively means: (1) Warrant No. 1 to acquire
5,428 shares of NextPoint's Series C Convertible Preferred Stock ("SERIES C
PREFERRED") dated July 14, 1998 issued to the Bank; (2) Warrant No. 3 to acquire
17,589 shares of Series C Preferred dated January 18, 2000 issued to the Bank;
(3) Warrant W-1 to acquire 5,890 shares of Series C Preferred dated March 13,
2000 issued to Baker Communications Fund, L.P. ("BAKER"); (4) Warrant W-2 to
acquire 1,357 shares of Series C Preferred dated March 13, 2000 issued to

<PAGE>

                     Registration Rights Agreement -- Page 3

Chestnut Partners, Inc. ("CHESTNUT"); (5) Warrant W-3 to acquire 3,406 shares of
Series C Preferred dated March 13, 2000 issued to Polaris Venture Partners, L.P.
("PVP"); (6) Warrant W-4 to acquire 204 shares of Series C Preferred dated March
13, 2000 issued to Polaris Venture Partners Founders' Fund, L.P. ("PFF"); (7)
Warrant W-5 to acquire 11,781 shares of Series C Preferred dated May 12, 2000
issued to Baker; (8) Warrant W-6 to acquire 2,714 shares of Series C Preferred
dated May 12, 2000 issued to Chestnut; (9) Warrant W-7 to acquire 6,812 shares
of Series C Preferred dated May 12, 2000 issued to PVP; (10) Warrant W-8 to
acquire 408 shares of Series C Preferred dated May 12, 2000 issued to PFF; (11)
Warrant No. 4 to acquire 15,648 shares of Series C Preferred dated June 6, 2000
issued to the Bank; (12) Warrant W-9 to acquire 11,781 shares of Series C
Preferred dated June 12, 2000 issued to Baker; (13) Warrant W-10 to acquire
2,714 shares of Series C Preferred dated June 12, 2000 issued to Chestnut; (14)
Warrant W-11 to acquire 6,812 shares of Series C Preferred dated June 12, 2000
issued to PVP; and (15) Warrant W-12 to acquire 408 shares of Series C Preferred
dated June 12, 2000 issued to PFF.

         1.3  ADDITIONAL DEFINITIONS.  Each of the following terms is defined
in the Section set forth opposite such term:

<TABLE>
<CAPTION>

            Term                                         Section
            ----                                         -------
        <S>                                              <C>
        Agreement                                        Recitals
        Bank                                             Recitals
        Common Stock                                     Recitals
        Holders                                          Recitals
        Indemnified Party                                     2.5
        Indemnifying Party                                    2.5
        NetScout                                         Recitals
        NextPoint                                        Recitals
        Merger                                           Recitals
        Stockholders                                     Recitals
        Warrantholders                                   Recitals

</TABLE>

         1.4 EFFECTIVENESS. This Agreement shall become effective as of the
Closing.

                                   ARTICLE II

                               REGISTRATION RIGHTS

         2.1 "PIGGY-BACK" REGISTRATIONS. (a) If at any time after the Closing
Date, NetScout shall determine to register for its own account or the account of
others under the Securities Act any of the Common Stock (other than (1) on Form
S-8 or Form S-4 or their then equivalents relating to shares of Common Stock to
be issued solely in connection with any acquisition of any entity or business or
issuable in connection with stock option or other employee benefit plans and (2)
the Holder Registration Statement), NetScout shall send to each Holder written
notice of such

<PAGE>

                     Registration Rights Agreement -- Page 4

determination. If, within 10 days after NetScout sends such notice, a Holder
shall so request in writing, NetScout shall use all reasonable efforts to
include in such registration statement all or any part of the Registrable Shares
such Holder requests to be registered; PROVIDED, HOWEVER, that NetScout shall
have the right to postpone or withdraw any registration effected pursuant to
this Section 2.1 at any time without obligation or liability to any Holder.

                  (b) In connection with any offering under this Section 2.1
involving an underwriting, NetScout shall not be required to include any
Registrable Shares in such underwriting unless the holders thereof accept the
terms of the underwriting as agreed upon between NetScout and the underwriters
selected by it; PROVIDED, HOWEVER, that if, in connection with any offering
involving an underwriting of Common Stock to be issued by NetScout, the managing
underwriter shall impose a limitation on the number of shares of such Common
Stock which may be included in the registration statement because, in its
reasonable judgment, the inclusion of such shares would be prejudicial to the
public offering, including price, then NetScout shall be obligated to include in
such registration statement only such limited portion (if any) of the
Registrable Shares with respect to which the Holders have requested inclusion
hereunder and the managing underwriter shall approve. The Holders agree and
acknowledge that the Registrable Shares held by the Holders shall be the first
shares excluded from such registration, and that, for the avoidance of doubt,
the Existing Rightsholders shall have senior rights to the Holders with respect
to any such piggyback registration. NetScout shall so advise all holders of
Registrable Shares requesting registration, and the number of shares that are
entitled to be included in the registration. Any exclusion of Registrable Shares
held by the Holders shall be made pro rata among the Holders seeking to include
such shares in the registration statement, in proportion to the number of
Registrable Shares owned by the Holders. The obligations of NetScout under this
Section 2.1 may be waived at any time by the written consent of the Holders who
hold at least eighty (80%) of the total number of Registrable Shares held by the
Holders.

         2.2 REGISTRATION OF SHARES. (a) NetScout shall file with the Securities
and Exchange Commission (the "COMMISSION"), not later than January 2, 2001, a
"shelf" registration statement covering the resale to the public by the Holders
of all Registrable Shares (the "HOLDER REGISTRATION STATEMENT"). NetScout shall
use all commercially reasonable efforts to cause the Holder Registration
Statement to be declared effective by the Commission as promptly as possible
after the date of filing. The Holder Registration Statement shall be on Form S-3
(or its then equivalent), if available to NetScout, or absent such availability,
on Form S-1 (or its then equivalent).

                  (b) If at the time immediately prior to the filing of the
Holder Registration Statement or at any time during the effectiveness of such
Holder Registration Statement: (i) NetScout is in possession of material
information that the Board of Directors of NetScout in good faith determines
disclosure of which would be detrimental to the business and affairs of NetScout
and that the registration statement would be materially misleading absent the
inclusion of such information, (ii) NetScout is prohibited (pursuant to the
terms of an underwriting agreement in connection with a public offering of its
securities or otherwise) from filing the Holder Registration Statement, or (iii)
NetScout is engaged in any other activity which, in the good faith determination
of NetScout's Board of Directors, would be adversely affected to the

<PAGE>

                     Registration Rights Agreement -- Page 5

material detriment of NetScout by the filing of the Holder Registration
Statement or the continued sale of Common Stock by means of the prospectus
relating to the Holder Registration Statement (the "RESALE PROSPECTUS"), as the
case may be, then, upon notice from NetScout to each of the Holders who have
Registrable Shares of the occurrence of an event described in clause (i), (ii)
or (iii) above, NetScout may at its option (1) delay the filing of such Holder
Registration Statement or (2) suspend the use of the Resale Prospectus by the
Holders in connection with any sale of shares under the Holder Registration
Statement, as the case may be, for a reasonable period until the time such
event, situation or activity no longer exists. The Holders hereby agree to
suspend the use of the Resale Prospectus upon receipt of such a notice from
NetScout, subject to the terms and limitations set forth in this Section 2.2(b).
NetScout's right to delay filing or suspend use of the Resale Prospectus may be
exercised by NetScout for an aggregate period of not more than 60 days in any
twelve month period. Such delay or suspension, however, shall not in any way
restrict the Holders from exercising piggyback registration rights under Section
2.1 during such period. In addition, NetScout shall promptly give notice to the
Holders at the time the events, situations or activities set forth in clauses
(i), (ii) or (iii) above no longer exist.

                  (c) NetScout shall use commercially reasonable efforts to
maintain the effectiveness of such registration statement with respect to
holders of Registrable Shares until the date which is two years after the
Effective Time or such earlier time as no shares are deemed to be Registrable
Shares.

                  (d) In any registration statement requested pursuant to this
  Section 2.2 NetScout shall be entitled to include, for sale in accordance with
  the method of disposition specified by the requesting Holders, shares of
  Common Stock to be sold by NetScout for its own account, except as and to the
  extent that such method of disposition shall be an underwritten public
  offering and in the opinion of the managing underwriter (if the method of
  disposition in the requested registration statement shall be an underwritten
  public offering) such inclusion would adversely affect the marketing of the
  Registrable Shares to be sold.

         2.3 INDEMNIFICATION OF HOLDERS. If NetScout registers any of the
Registrable Shares under the Securities Act pursuant to this Agreement, NetScout
shall indemnify and hold harmless each Holder and each underwriter of the
Registrable Shares (including their officers, directors, affiliates and
partners) so registered (including any broker or dealer through whom such shares
may be sold) and each Person, if any, who controls a Holder or any such
underwriter within the meaning of Section 15 of the Securities Act from and
against any and all losses, claims, damages, expenses or liabilities, joint or
several, to which they or any of them become subject under the Securities Act,
applicable state securities laws or under any other statute or at common law or
otherwise, as incurred, and, except as hereinafter provided, shall reimburse
each Holder, each such underwriter and each such controlling Person, if any, for
any legal or other expenses reasonably incurred by them or any of them in
connection with investigating or defending any actions whether or not resulting
in any liability, as incurred, insofar as such losses, claims, damages,
expenses, liabilities or actions arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in the
registration statement, in any preliminary or amended preliminary prospectus or
in the final prospectus (or the registration

<PAGE>

                     Registration Rights Agreement -- Page 6

statement or prospectus as from time to time amended or supplemented by
NetScout) or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary in
order to make the statements therein in light of the circumstances under which
they were made not misleading, or any violation by NetScout of any rule or
regulation promulgated under the Securities Act or any state securities law
applicable to NetScout and relating to action or inaction required of NetScout
in connection with such registration, UNLESS (i) such untrue statement or
alleged untrue statement or omission or alleged omission was made in such
registration statement, preliminary or amended preliminary prospectus or final
prospectus in reliance upon and in conformity with information furnished to
NetScout in writing in connection therewith by any such Holder (in the case of
indemnification of such Holder), any such underwriter (in the case of
indemnification of such underwriter) or any such controlling Person (in the case
of indemnification of such controlling Person) expressly for use therein; (ii)
such untrue statement or alleged untrue statement or omission or alleged
omission was corrected in a final or amended prospectus copies of which were
delivered to such Holder or such underwriter on a timely basis, and such Holder
or such underwriter failed to deliver a copy of the final or amended prospectus
at or prior to the confirmation of the sale of the Registrable Shares to the
Person asserting any such loss, claim, damage or liability in any case where
such delivery is required by the Securities Act; or (iii) the sale of the
Registrable Shares to the Person asserting any such loss, claim, damage or
liability occurred after NetScout gave notice to the Holders of suspension of
the use of the Resale Prospectus in accordance with Section 2.2(b) hereof.

         2.4 INDEMNIFICATION OF NETSCOUT. If NetScout registers any of the
Registrable Shares under the Securities Act pursuant to this Agreement, each
Holder shall indemnify and hold harmless NetScout, each of its directors, each
of its officers who have signed or otherwise participated in the preparation of
the registration statement, each underwriter of the Registrable Shares so
registered (including any broker or dealer through whom such of the shares may
be sold) and each Person, if any, who controls NetScout within the meaning of
Section 15 of the Securities Act from and against any and all losses, claims,
damages, expenses or liabilities, joint or several, to which they or any of them
may become subject under the Securities Act, applicable state securities laws or
under any other statute or at common law or otherwise, and, except as
hereinafter provided, shall reimburse NetScout and each such director, officer,
underwriter or controlling Person for any legal or other expenses reasonably
incurred by them or any of them in connection with investigating or defending
any actions whether or not resulting in any liability, insofar as such losses,
claims, damages, expenses, liabilities or actions arise out of or are based upon
any untrue statement or alleged untrue statement of a material fact contained in
the registration statement, in any preliminary or amended preliminary prospectus
or in the final prospectus (or in the registration statement or prospectus as
from time to time amended or supplemented) or arise out of or are based upon the
omission or alleged omission to state therein a material fact required to be
stated therein or necessary in order to make the statements therein in light of
the circumstances under which they were made not misleading, but only insofar as
any such statement or omission (i) was made in reliance upon and in conformity
with information furnished to NetScout in writing in connection therewith by
such Holder expressly for use therein; (ii) such statement or omission was
corrected in a final or amended prospectus copies of which were delivered to
such Holder on a timely basis, and such Holder or such underwriter

<PAGE>

                     Registration Rights Agreement -- Page 7

failed to deliver a copy of the final or amended prospectus at or prior to the
confirmation of the sale of the Registrable Shares to the Person asserting any
such loss, claim, damage or liability in any case where such delivery is
required by the Securities Act; or (iii) the sale of the Registrable Shares to
the Person asserting any such loss, claim, damage or liability occurred after
NetScout gave notice to the Holders of suspension of the use of the Resale
Prospectus in accordance with Section 2.2(b) hereof. Notwithstanding any of the
foregoing to the contrary, in no event shall the liability of any Holder for
indemnification under this Section 2.4 exceed the net proceeds received by such
Holder in the offering.

         2.5 INDEMNIFICATION PROCEDURES. (a) Promptly after receipt by any
Person entitled to indemnification under Sections 2.3 or 2.4 (an "INDEMNIFIED
PARTY") of notice of the commencement of any action in respect of which
indemnity may be sought against any Person under Sections 2.3 or 2.4 (an
"INDEMNIFYING PARTY"), such Indemnified Party shall notify all Indemnifying
Parties in writing of the commencement thereof (PROVIDED, HOWEVER, that failure
to so notify an Indemnifying Party shall not relieve any Indemnifying Party from
any liability it may have hereunder except to the extent that the Indemnifying
Party who did not receive such notice shall have been materially prejudiced by
such failure) and, subject to the provisions hereinafter stated, the
Indemnifying Party shall be entitled to assume the defense of such action
(including the employment of counsel, who shall be counsel reasonably
satisfactory to such Indemnified Party), and the payment of expenses insofar as
such action shall relate to any alleged liability in respect of which indemnity
may be sought against the Indemnifying Party.

                  (b) The Indemnified Party shall have the right to employ
separate counsel and assume its own legal defense in any such action and to
participate in the defense thereof, but the fees and expenses of such counsel
subsequent to any assumption of the defense by the Indemnifying Party shall not
be at the expense of the Indemnifying Party unless the employment of such
counsel has been specifically authorized in writing by the Indemnifying Party.
If the Indemnified Party reasonably determines that there may be a conflict
between the positions of the Indemnifying Parties and the Indemnified Party
conducting the defense of such action or that there may be legal defenses
available to the Indemnified Party different from or in addition to those
available to the Indemnifying Parties, then counsel for the Indemnified Party
shall be entitled to conduct the defense to the extent reasonably determined by
such counsel to be necessary to protect the interests of the Indemnified Party,
and the Indemnifying Parties shall bear the legal or other expenses incurred in
connection with the conduct of such defense. The Indemnifying Party shall not be
liable to indemnify any Indemnified Party for any settlement of any such action
effected without the Indemnifying Party's written consent.

         2.6 CONTRIBUTION. In order to provide for just and equitable
contribution to joint liability under the Securities Act in any case in which
any Indemnified Party exercising rights under this Agreement, or any controlling
Person of any such Indemnified Party, makes a claim for indemnification pursuant
to Section 2.3 or 2.4 but it is judicially determined (by the entry of a final
judgment or decree by a court of competent jurisdiction and the expiration of
time to appeal or the denial of the last right of appeal) that such
indemnification may not be enforced in such case notwithstanding the fact that
this Agreement provides for indemnification in such case, then the Indemnifying
Party and such Indemnified Party will contribute to the aggregate losses,

<PAGE>

                     Registration Rights Agreement -- Page 8

claims, damages or liabilities to which they may be subject (after contribution
from others) in such proportion as is appropriate to reflect the relative fault
of the Indemnifying Party on the one hand and of the Indemnified Party on the
other in connection with the statements or omissions which resulted in such
losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. Notwithstanding the foregoing, in no event shall the liability
of any Holder for contribution under this Section 2.6 exceed the net proceeds
received by such Holder in the offering. The relative fault of the Indemnifying
Party on the one hand and of the Indemnified Party on the other shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by the Indemnifying Party on the
one hand or by the Indemnified Party on the other, and each party's relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission; PROVIDED, HOWEVER, that, in any such case, no Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) will be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation.

         2.7 EXCHANGE ACT REGISTRATION. NetScout will use reasonable efforts to
timely file with the Commission such information as the Commission may require
under either Section 13 or Section 15(d) of the Exchange Act; and in such event,
NetScout shall use its reasonable efforts to take all action as may be required
as a condition to the availability of Rule 144 under the Securities Act (or any
successor exemptive rule hereafter in effect) with respect to the Registrable
Shares. NetScout shall furnish to the Holders forthwith upon request a written
statement by NetScout as to its compliance with the reporting requirements of
Rule 144.

         2.8 FURTHER OBLIGATIONS OF NETSCOUT. Whenever NetScout is required
under this Agreement to register Registrable Shares, subject to the exceptions
set forth in Sections 2.1 and 2.2, it shall also do the following:

                  (i) file with the Commission a registration statement with
respect to such Registrable Shares and use commercially reasonable efforts to
cause that registration statement to become effective as soon as possible;

                  (ii) as expeditiously as possible prepare and file with the
Commission any amendments and supplements to the registration statement and the
prospectus included in the registration statement as may be necessary to comply
with the provisions of the Securities Act (including the anti-fraud provisions
thereof);

                  (iii) as expeditiously as possible furnish to each Holder
whose Registrable Shares are included in such registration statement such
reasonable numbers of copies of the Prospectus, including any preliminary
Prospectus, in conformity with the requirements of the Securities Act, and such
other documents as such Holder may reasonably request in order to facilitate the
public sale or other disposition of the Registrable Shares owned by such Holder;

                  (iv) as expeditiously as possible use commercially reasonable
efforts to register or qualify the Registrable Shares covered by the
registration statement under the securities or Blue Sky laws of such states as
the Holders shall reasonably request, and do any

<PAGE>

                     Registration Rights Agreement -- Page 9

and all other acts and things that may be necessary or desirable to enable the
Holders to consummate the public sale or other disposition in such states of the
Registrable Shares owned by the selling Holder; PROVIDED, HOWEVER, that NetScout
shall not be required in connection with this paragraph (iv) to qualify as a
foreign corporation or execute a general consent to service of process in any
jurisdiction;

                  (v) as expeditiously as possible, cause all such Registrable
Shares to be listed on each securities exchange or automated quotation system on
which similar securities issued by NetScout are then listed;

                  (vi) promptly provide a transfer agent and registrar for all
such Registrable Shares not later than the effective date of such registration
statement;

                  (vii) promptly make available for inspection by the Holders,
any managing underwriter participating in any disposition pursuant to such
registration statement, and any attorney or accountant or other agent retained
by any such underwriter or selected by the Holders including Registrable Shares
in such registration statement, all customary due diligence information of
NetScout and cause NetScout's officers, directors, employees and independent
accountants to supply all such information reasonably requested by any such
seller, underwriter, attorney, accountant or agent in connection with such
registration statement;

                  (viii) as expeditiously as possible, notify each Holder whose
Registrable Shares are included in the registration statement, promptly after it
shall receive notice thereof, of the time when such registration statement has
become effective or a supplement to any Prospectus forming a part of such
registration statement has been filed; and

                  (ix) as expeditiously as possible following the effectiveness
of such registration statement, notify each seller of such Registrable Shares of
any request by the Commission for the amending or supplementing of such
registration statement or Prospectus.

         2.9 FURTHER OBLIGATIONS OF HOLDERS. In connection with any registration
pursuant to this Agreement in which Registrable Shares held by a Holder are to
be registered, such Holder shall furnish to NetScout in writing such information
with respect to such Holder and the distribution proposed by such Holder as
NetScout reasonably requests for use in connection with any such registration
statement or prospectus or otherwise as shall be required in connection with any
registration, qualification or compliance referred to in this Agreement.

         2.10 ALLOCATION OF EXPENSES. In any registration pursuant to Section
2.2, NetScout shall pay all of the Registration Expenses of such registration.
In no event shall NetScout have any obligation to pay or otherwise bear any
portion of the underwriters' commissions or discounts and selling concessions or
stock transfer Taxes attributable to the Registrable Shares being offered and
sold by any of the Holders.

         2.11 SALE OR TRANSFER OF SHARES. The Registrable Shares shall not be
sold or transferred unless either (i) they shall have been sold pursuant to an
effective registration statement under the Securities Act, or (ii) NetScout
shall have been furnished with an opinion of legal counsel,

<PAGE>
                    Registration Rights Agreement -- Page 10

reasonably satisfactory to NetScout, to the effect that such sale or transfer is
exempt from the registration requirements of the Securities Act.

         2.12 NONTRANSFERABILITY. The registration rights granted in this
Agreement may be assigned by a Holder to (i) any person or entity to which at
least 100,000 Registrable Shares are transferred by such Holder or (ii) to any
partner, stockholder or affiliate of such Holder to which at least 100,000
Registrable Shares are transferred by such Holder, and such transferee shall be
deemed a "Holder" and a holder of "Registrable Shares" for purposes of this
Agreement only to the extent that the transferee provides written notice of such
assignment to NetScout and agrees in writing to be bound hereby.

                                   ARTICLE III

                                  MISCELLANEOUS

         3.1 LAW GOVERNING. This Agreement, and all disputes arising hereunder,
shall be governed by and construed and enforced in accordance with the laws of
the State of Delaware, without giving effect to the principles of conflicts of
law thereof.

         3.2 COUNTERPARTS. This Agreement may be executed simultaneously in one
or more counterparts, each of which shall be deemed to be an original but all of
which together shall constitute one and the same instrument.

         3.3 TERMINATION. NetScout's obligations under Sections 2.1 and 2.2
shall expire with respect to a Person when such Person ceases to hold
Registrable Shares.

<PAGE>

                    Registration Rights Agreement -- Page 11

         IN WITNESS WHEREOF, this Agreement has been duly executed and delivered
by the parties on the date first above written.

NETSCOUT SYSTEMS, INC.                     Name of Holder:

By: /s/ Anil Singhal
    -------------------------------        ----------------------------
    Anil Singhal

Title:  Chief Executive Officer            ----------------------------
                                           By:
                                           Title, if any:

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