Document:

EX-10.19

 Exhibit 10.19 

SAILPOINT TECHNOLOGIES HOLDINGS, INC. 

AMENDED AND RESTATED 

2015 STOCK OPTION AND GRANT PLAN 

Adopted August 19, 2015 

ARTICLE I 
 Purpose of Plan

 This 2015 Stock Option and Grant Plan (this “Plan”) is adopted by the Board of Directors of SailPoint Technologies
Holdings, Inc. for executives and other key employees, directors, consultants and advisers of the Company, is intended to advance the best interests of the Company by providing those persons who have a substantial responsibility for its management
and growth with additional incentives by allowing them to acquire an ownership interest in the Company and thereby encouraging them to contribute to the success of the Company and to remain in its employ or continue to provide services. The
availability and offering of Awards (as defined below) under the Plan also increases the Company’s ability to attract and retain individuals of exceptional managerial talent upon whom, in large measure, the sustained progress, growth and
profitability of the Company depends. 
 This Plan is intended to be a “compensatory benefit plan” within the meaning of such term
under Rule 701 of the Securities Act of 1933, as amended (the “Securities Act”). 
 ARTICLE II 

Definitions 
 For purposes
of the Plan, except where the context clearly indicates otherwise, the following terms shall have the meanings set forth below: 

“Affiliate” means, as to any Person, any other Person which directly or indirectly controls, or is under common control with,
or is controlled by, such Person. As used in this definition, “control” (including, with its correlative meanings, “controlled by” and “under common control with”) shall mean possession, directly or indirectly, of power
to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise). 

“Award” or “Awards,” except where referring to a particular category of grant under the Plan, shall include
Incentive Stock Options, Non-Qualified Stock Options and Restricted Stock Awards or any combination of the foregoing. 

“Award Agreement” means a written or electronic agreement setting forth the terms and provisions applicable to an Award
granted under the Plan. Each Award Agreement may contain terms and conditions in addition to those set forth in the Plan; provided, however, that except to the extent explicitly provided to the contrary, in the event of any conflict in the terms of
the Plan and the Award Agreement, the terms of the Plan shall govern. 

  

 “Board” shall mean the Board of Directors of the Company. 

“Cause” means with respect to a Participant’s termination of employment (a) “cause” as defined in any
employment agreement or consulting agreement between a Participant and the Company or any of its Subsidiaries, or, if a Participant is not a party to an employment agreement or consulting agreement in which “cause” is defined, then
(b) (i) the conviction, or plea of nolo contendere to a felony or other crime involving moral turpitude, the misappropriation of funds or other material property of the Company or any of its Subsidiaries, the attempt to willfully obtain
any personal profit from any transaction in which the Company or any of its Subsidiaries has an interest which is adverse to the interests of the Company or any of its Subsidiaries or any other act of fraud or embezzlement against the Company, any
of its Subsidiaries or any of its customers or suppliers, (ii) reporting to work under the influence of alcohol or drugs or repeatedly using alcohol or illegal drugs or abusing legal drugs, whether or not at the workplace, in such a fashion as
could reasonably be expected to cause the Company or any of its Subsidiaries material harm, (iii) substantial and repeated failure to perform duties as reasonably directed by the Company in writing, (iv) any intentional act or intentional
omission aiding or abetting a competitor, supplier or customer of the Company or any of its Subsidiaries to the material disadvantage or detriment of the Company and its Subsidiaries, or (v) any breach of fiduciary duty, gross negligence or
willful misconduct with respect to the Company or any of its Subsidiaries which (if capable of cure) is not cured to the Company’s reasonable satisfaction within ten (10) days after written notice thereof to the Participant. 

“Change of Control” means any transaction or series of transactions pursuant to which any person(s) or entity(ies) other than
the Investors and their Affiliates in the aggregate acquire(s) (i) capital stock of the Company possessing over 50% of the voting power (other than voting rights accruing only in the event of a default, breach or event of noncompliance) or the
power to elect a majority of the Board (whether by merger, consolidation, reorganization, combination, sale or transfer of the Company’s capital stock, shareholder or voting agreement, proxy, power of attorney or otherwise) or (ii) over
50% of the Company’s assets determined on a consolidated basis. In no event will a public offering under the Securities Act be considered a Change of Control. 

“Code” shall mean the Internal Revenue Code of 1986, as amended, and any successor statute. 

“Committee” shall mean the committee of the Board which may be designated by the Board to administer the Plan. The Committee
shall be composed of two or more directors as appointed from time to time to serve by the Board (or such lesser or greater number of directors as shall constitute the minimum number permitted by applicable laws to establish a committee of the
Board). 
 “Common Stock” shall mean the Company’s Common Stock, par value $0.0001 per share, or, in the event that
the outstanding Common Stock is hereafter changed into or exchanged for different stock or securities of the Company, such other stock or securities. 

  
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 “Company” shall mean SailPoint Technologies Holdings, Inc., a Delaware
corporation, and, except to the extent the context requires otherwise, any Subsidiary. 
 “Consultant” means any natural
person that provides bona fide services to the Company (including a Subsidiary), and such services are not in connection with the offer or sale of securities in a capital-raising transaction and do not directly or indirectly promote or maintain a
market for the Company’s securities.1 
 “Disability” shall mean
a Participant’s inability, due to illness, accident, injury, physical or mental incapacity or other disability, to carry out effectively such Participant’s duties and obligations as an employee of the Company or to participate effectively
and actively in the management of the Company for a period of at least 90 consecutive days or for shorter periods aggregating at least 120 days (whether or not consecutive) during any twelve-month period, as determined in the reasonable judgment of
the Board. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Fair Market Value” of each share of the Common Stock means the fair value of such Common Stock determined in good faith by
the Committee, or, in the absence of the Committee, by the Board. 
 “Incentive Stock Option” means any Stock Option
designated and qualified as an “incentive stock option” as defined in Section 422 of the Code. 

“Investors” means together, Thoma Bravo Fund XI, L.P., Thoma Bravo Fund XI-A, L.P. and Thoma Bravo Executive Fund XI, L.P.

 “Non-Qualified Stock Option” means any Stock Option that is not an Incentive Stock Option. 

“Option” or “Stock Option” means the number of shares of Common Stock with respect to which options may be
granted under the Plan and which may be issued upon the exercise thereof. 
 “Option Exchange Program” means a program
approved by the Committee, or, in the absence of the Committee, the Board whereby outstanding Options (i) are surrendered or cancelled in exchange for other Options (which may have higher or lower exercise prices and different terms), other
awards and/or cash or other property and/or (ii) are amended to increase or decrease the exercise price. The Committee, or, in the absence of the Committee, the Board will determine the terms and conditions of any Option Exchange Program in its
sole discretion. 
  

	1 	This definition of consultant is consistent with the consultant definition under Rule 701 and Form S-8. 

  
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 “Participant” shall mean any executive or other key employee, director,
consultant or advisor of the Company or its Subsidiaries who has been selected to participate in the Plan by the Committee or the Board. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

“Restricted Stock Award” means an Award granted pursuant to Article VII entitling the recipient to
acquire, at such purchase price (which may be zero) as determined by the Committee, shares of Common Stock subject to such restrictions and conditions as the Committee may determine at the time of grant, which purchase price shall be payable in cash
or other form of consideration acceptable to the Committee. 
 “Subsidiary” or “Subsidiaries” means any
corporation or corporations of which the Company owns securities having a majority of the ordinary voting power in electing the board of directors directly or through one or more subsidiaries. 

“Ten Percent Owner” means an employee who owns or is deemed to own (by reason of the attribution rules of Section 424(d)
of the Code) more than 10 percent of the combined voting power of all classes of stock of the Company or any parent of the Company or any Subsidiary. 

ARTICLE III 
 Administration

 The Plan shall be administered by the Committee; provided that if for any reason the Committee shall not have been appointed by the
Board, all authority and duties of the Committee under the Plan shall be vested in and exercised by the Board. Subject to the limitations under the Plan, the Committee shall have the sole and complete authority to: (i) select Participants,
(ii) grant Awards to Participants in such forms and amounts as it shall determine, (iii) impose such limitations, restrictions and conditions upon such Awards as it shall deem appropriate, (iv) amend any outstanding Award or agreement
related to any Award, provided that no amendment shall be made that would materially and adversely affect the rights of any Participant without his consent, (v) subject to applicable laws, to implement and determine the terms and conditions of
an Option Exchange Program, (vi) to approve addenda or sub-plans pursuant to Section 8.15 below or to modify the terms of any agreement related to any Award (s) granted to Participants who are foreign nationals or employed
outside of the United States with such terms and conditions as the Committee deems necessary or appropriate to accommodate differences in local law, tax policy or custom, (vii) interpret the Plan and adopt, amend and rescind administrative
guidelines and other rules and regulations relating to the Plan, (viii) correct any defect or omission or reconcile any inconsistency in the Plan or in any Award granted hereunder and (ix) make all other determinations and take all other
actions necessary or advisable for the implementation and administration of the Plan. The Committee’s determinations on matters within its authority shall be conclusive and binding upon the Participants, the Company and all other Persons. All
expenses associated with the administration of the Plan shall be borne by the Company. The Committee may, as approved by the Board and to the extent permissible by law, delegate any of its authority hereunder to such persons as it deems appropriate.

  
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 ARTICLE IV 

Limitation on Aggregate Shares 

The number of shares of Common Stock reserved and available for issuance under the Plan shall not exceed, in the aggregate, 500,000 shares,
and no more than 5,000,000 shares of Common Stock may be issued pursuant to Incentive Stock Options; provided that, in each case, the type and the aggregate number of shares which may be subject to Awards shall be subject to adjustment in accordance
with the provisions of Section 8.7 below; and further provided that, to the extent any Awards expire unexercised or are canceled, terminated or forfeited in any manner without the issuance of Common Stock thereunder, or are surrendered
pursuant to an Option Exchange Program, or if any Awards are exercised and the shares of Common Stock issued thereunder are repurchased by the Company, such shares shall again be available under the Plan. In addition, any shares which are retained
by the Company upon exercise of an Option in order to satisfy the exercise price for such Option or any withholding taxes due with respect to such Option shall not be treated as issued and shall continue to be available under the Plan. The shares of
Common Stock available under the Plan may be either authorized and unissued shares, treasury shares or a combination thereof, as the Committee shall determine. 

ARTICLE V 
 Eligibility 

Participants under the Plan will be such full or part-time executives, officers and other employees, directors and key persons (including
prospective employees, but conditioned on their employment, and Consultants) of the Company and any Subsidiary who are selected from time to time by the Committee in its sole discretion; provided, however, that an Incentive Stock
Option may be granted only to a person who, at the time the Incentive Stock Option is granted, is an employee of the Company or any Subsidiary. 

ARTICLE VI 
 Stock Option Awards

 6.1 Options. 

(i) The Committee may grant Options to Participants in accordance with this Article VI. 

(ii) Stock Options granted under the Plan may be either Incentive Stock Options or Non-Qualified Stock Options. Incentive Stock
Options may be granted only to employees of the Company or any Subsidiary that is a “subsidiary corporation” within the meaning of Section 424(f) of the Code. To the extent that any Option does not qualify as an Incentive Stock
Option, it shall be deemed a Non-Qualified Stock Option. 
 (iii) No Incentive Stock Option shall be granted under the Plan
after the date which is ten years from the date the Plan is approved by the Board. 

  
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 6.2 Terms of Stock Options. The Committee in its discretion may grant Stock Options to
eligible employees and key persons of the Company or any Subsidiary. Stock Options granted pursuant to this Article 6 shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not
inconsistent with the terms of the Plan, as the Committee shall deem desirable. If the Committee so determines, Stock Options may be granted in lieu of cash compensation at the optionee’s election, subject to such terms and conditions as the
Committee may establish. 
 (i) Exercise Price. The option exercise price shall be such price as is determined by the
Committee, at the time of grant but shall not be less than 100 percent of the Fair Market Value on the date of grant. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the option price of such Incentive Stock Option
shall be not less than 110 percent of the Fair Market Value on the grant date. 
 (ii) Term of Option. The Committee
shall determine the term of each Option, which term shall in no event exceed ten years from the date of grant. In the case of an Incentive Stock Option that is granted to a Ten Percent Owner, the term of such Stock Option shall be no more than five
years from the date of grant. 
 (iii) Exercisability. Stock Options shall become exercisable and/or vested at such
time or times, whether or not in installments, as shall be determined by the Committee at or after the grant date. The Award Agreement may permit a grantee to exercise all or a portion of a Stock Option immediately at grant; provided that the shares
issued upon such exercise shall be subject to restrictions and a vesting schedule identical to the vesting schedule of the related Stock Option, such shares shall be deemed to be Restricted Stock for purposes of the Plan, and the optionee may be
required to enter into an additional or new Award Agreement as a condition to exercise of such Stock Option. An optionee shall have the rights of a stockholder only as to shares acquired upon the exercise of a Stock Option and not as to unexercised
Stock Options. An optionee shall not be deemed to have acquired any shares unless and until a Stock Option shall have been exercised pursuant to the terms of the Award Agreement and this Plan and the optionee’s name has been entered on the
books of the Company as a stockholder. 
 (iv) Payment of Exercise Price. Options shall be exercised in whole or in
part by written notice to the Company (to the attention of the Company’s Corporate Secretary), specifying the number of shares to be purchased, accompanied by payment in full of the option exercise price. Payment of the option exercise price
shall be made in cash (including check, bank draft or money order) or, in the discretion of the Committee, by (i) delivery of a promissory note (if in accordance with policies approved by the Board), (ii) cancellation of indebtedness,
(iii) other previously owned shares of Common Stock that have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the shares as to which the Option is exercised, (iv) cashless exercise (only with respect
to Nonqualified Stock Options), (v) such other consideration and method of payment permitted under applicable laws, or (vi) any combination of the foregoing methods of payment. Such cashless exercise shall be effectuated by the Company
delivering shares of Common Stock to the Participant with a Fair Market Value equal to (a) the Fair Market Value of all shares issuable upon exercise of such Options, minus (b) the aggregate exercise price of all shares issuable upon
exercise of such Options (and if permitted by the Committee, together with any related taxes that may be paid in this manner without resulting in any material adverse accounting consequences to the Company, as the Committee determines in its sole
discretion). 

  
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 (v) Rights as a Stockholder. A Participant shall have no rights as a
stockholder with respect to any shares covered by an Option until the effective date of the issuance of the shares following the exercise of an Option by Participant. 

6.3 Annual Limit on Incentive Stock Options. To the extent required for “incentive stock option” treatment under
Section 422 of the Code, the aggregate Fair Market Value (determined as of the time of grant) of the shares of Stock with respect to which Incentive Stock Options granted under the Plan and any other plan of the Company or its parent and any
Subsidiary that become exercisable for the first time by an optionee during any calendar year shall not exceed $100,000 or such other limit as may be in effect from time to time under Section 422 of the Code. To the extent that any Stock Option
exceeds this limit, it shall constitute a Non-Qualified Stock Option. 
 6.4 Non-Transferability of Stock Options. No Stock Option
shall be transferable by the optionee otherwise than by will or by the laws of descent and distribution and all Stock Options shall be exercisable, during the optionee’s lifetime, only by the optionee, or by the optionee’s legal
representative or guardian in the event of the optionee’s incapacity. Notwithstanding the foregoing, the Committee, in its sole discretion, may provide in the Award Agreement regarding a given Option that the optionee may transfer, without
consideration for the transfer, his or her Non-Qualified Stock Options to members of his or her immediate family, to trusts for the benefit of such family members, or to partnerships in which such family members are the only partners, provided that
the transferee agrees in writing with the Company to be bound by all of the terms and conditions of the Plan and the applicable Option. 

6.5 Expiration of Options. 

(a) Normal Expiration. In no event shall any part of any Option be exercisable after the date of expiration thereof (the
“Expiration Date”), as determined by the Committee pursuant to this Article 6. 
 (b) Early Expiration Upon
Termination of Service. Except as otherwise provided in the Option Agreement or the Committee, any portion of a Participant’s Option that was not vested and exercisable on the date of the termination of such Participant’s employment or
other service to the Company shall expire and be forfeited as of such date and, unless otherwise provided in addenda to this Plan or required by applicable law, any portion of a Participant’s Option that was vested and exercisable on the date
of the termination of such Participant’s employment or other service to the Company shall expire and be forfeited as of such date, except that: (i) if any Participant dies or becomes subject to any Disability, such Participant’s
Option shall expire 180 days after the date of his death or Disability, but in no event after the Expiration Date, (ii) if any Participant retires (with the approval of the Board), his Option shall expire 90 days after the date of his
retirement, but in no event after the Expiration Date, and (iii) if any Participant is discharged other than for Cause, such Participant’s Option shall expire 30 days after the date of his discharge, but, in each case, in no event after
the Expiration Date. 

  
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 ARTICLE VII 

Restricted Stock Awards 

7.1 Nature of Restricted Stock Awards. The Committee shall determine the restrictions and conditions applicable to each Restricted
Stock Award at the time of grant. Conditions may be based on continuing employment (or other service relationship), achievement of pre-established performance goals and objectives and/or such other criteria as the Committee may determine. The grant
of a Restricted Stock Award is contingent on the grantee executing a Restricted Stock Award Agreement. The terms and conditions of each such Award Agreement shall be determined by the Committee, and such terms and conditions may differ among
individual Awards and grantees, all of whom must be eligible Participants. 
 7.2 Rights as a Stockholder. Upon execution of a
Restricted Stock Award Agreement and payment of any applicable purchase price, a grantee of Restricted Stock shall be considered the record owner of and shall be entitled to vote the shares of Restricted Stock if, and to the extent, such shares are
entitled to voting rights, subject to such conditions contained in the Restricted Stock Award Agreement. Except as otherwise provided for in any agreement or waiver letter, the grantee shall be entitled to receive all dividends and any other
distributions declared on the shares; provided, however, that the Company is under no duty to declare any such dividends or to make any such distribution. The Restricted Stock Award Agreement may require or permit the immediate
payment, waiver, deferral or investment of dividends paid on the Restricted Stock. Unless the Committee shall otherwise determine, certificates evidencing the Restricted Stock shall remain in the possession of the Company until such Restricted Stock
is vested as provided in subsection (d) below of this Section, and the grantee shall be required, as a condition of the grant, to deliver to the Company a stock power endorsed in blank and such other instruments of transfer as the Committee may
prescribe. 
 7.3 Restrictions. Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered or disposed
of except as specifically provided herein or in the Restricted Stock Award Agreement. Except as may otherwise be provided by the Committee in the Award Agreement or, subject to Section 8.11 below, in writing after the Award Agreement is
issued, if any, if a grantee’s employment (or other service relationship) with the Company and any Subsidiary terminates, the Company or its assigns shall have the right, as may be specified in the relevant instrument, to repurchase some or all
of the shares subject to the Award at such purchase price as is set forth in the Restricted Stock Award Agreement. 
 7.4 Vesting of
Restricted Stock. The Committee at the time of grant shall specify the date or dates and/or the attainment of pre-established performance goals, objectives and other conditions on which Restricted Stock
shall become vested, subject to such further rights of the Company or its assigns as may be specified in the Restricted Stock Award Agreement. 

ARTICLE VIII 
 General
Provisions 
 8.1 Conditions and Limitations on Exercise. Awards may be made vested and exercisable in one or more installments,
upon the happening of certain events, upon the passage of a specified period of time, upon the fulfillment of certain conditions or upon the achievement by the Company of certain performance goals, as the Committee shall decide in each case when the
Awards are granted. 

  
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 8.2 Change of Control. In the event of a Change of Control, each outstanding Award (vested
or unvested) will be treated as the Committee or the Board determines, which determination may be made without the consent of any Participant and need not treat all outstanding Awards (or portion thereof) in an identical manner. Such determination,
without the consent of any Participant, may provide (without limitation) that all or any of the Awards shall become immediately vested and exercisable by any Participants who are employed by the Company at the time of the Change of Control and/or
that all Awards shall terminate if not vested and exercised as of the date of the Change of Control or other prescribed period of time. 

8.3 Written Agreement. Each Award granted hereunder to a Participant shall be embodied in an Award Agreement which shall be signed by
the Participant and by a duly authorized officer of the Company for and in the name and on behalf of the Company and shall be subject to the terms and conditions of the Plan prescribed in the Award Agreement (including, but not limited to,
(i) the right of the Company and such other Persons as the Committee shall designate (“Designees”) to repurchase from each Participant, and such Participant’s transferees, all shares of Common Stock issued or issuable to
such Participant pursuant to an Award Agreement in the event of such Participant’s termination of employment, (ii) rights of first refusal granted to the Company and Designees, (iii) holdback, lock-up and other registration right
restrictions in the event of a public registration of any equity securities of the Company and (iv) any other terms and conditions which the Committee shall deem necessary and desirable). 

8.4 Listing, Registration and Compliance with Laws and Regulations. Awards shall be subject to the requirement that if at any time the
Committee shall determine, in its discretion, that the listing, registration or qualification of the shares subject to the Awards upon any securities exchange or under any state or federal securities or other law or regulation, or the consent or
approval of any governmental regulatory body, is necessary or desirable as a condition to or in connection with the granting of the Awards or the issuance or purchase of shares thereunder, no Awards may be granted or exercised, in whole or in part,
unless such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee. The holders of such Awards shall supply the Company with such certificates,
representations and information as the Company shall request and shall otherwise cooperate with the Company in obtaining such listing, registration, qualification, consent or approval. In the case of officers and other Persons subject to
Section 16(b) of the Exchange Act, the Committee may at any time impose any limitations upon an Award that, in the Committee’s discretion, are necessary or desirable in order to comply with such Section 16(b) and the rules and
regulations thereunder. If the Company, as part of an offering of securities or otherwise, finds it desirable because of federal or state regulatory requirements to reduce the period during which any Awards may be exercised, the Committee, may, in
its discretion and without the Participant’s consent, so reduce such period on not less than 15 days written notice to the holders thereof. 

8.5 Nontransferability. Unless determined otherwise by the Committee or the Board, Awards may not be transferred other than by will or
the laws of descent and distribution and, during the lifetime of the Participant, may be exercised only by such Participant (or his legal 

  
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 guardian or legal representative). If the Committee or the Board makes an Award transferable, such Award may only
be transferred (i) by will, (ii) by the laws of descent and distribution, or (iii) as permitted by Rule 701 of the Securities Act. In the event of the death of a Participant, exercise of Awards granted hereunder shall be made only:

 (i) by the executor or administrator of the estate of the deceased Participant or the Person or Persons to whom the
deceased Participant’s rights under the Award shall pass by will or the laws of descent and distribution; and 
 (ii) to
the extent that the deceased Participant was entitled thereto at the date of his death, unless otherwise provided by the Committee in such Participant’s Award Agreement. 

8.6 Taxes. As a condition of the grant, vesting and exercise of an Award, the Participant (or in the case of the Participant’s
death or a permitted transferee, the person holding or exercising the Award) shall make such arrangements as the Committee or Board may require for the satisfaction of any applicable U.S. federal, state, local or foreign tax, withholding, and any
other required deductions or payments that may arise in connection with such Award. The Company shall not be required to issue any shares under the Plan until such obligations are satisfied. The Committee may, to the extent permitted under
applicable laws, permit a Participant (or in the case of the Participant’s death or a permitted transferee, the person holding or exercising the Award) to satisfy all or part of the Participant’s tax, withholding, or any other required
deductions or payments by cashless exercise or by surrendering shares (either directly or by stock attestation) that such Participant previously acquired; provided that, unless specifically permitted by the Company, the shares withheld in the
cashless exercise must be limited to avoid financial accounting charges under applicable accounting guidance and any such surrendered shares must have been previously held for any minimum duration required to avoid financial accounting charges under
applicable accounting guidance. Any payment of taxes by surrendering shares to the Company may be subject to restrictions, including, but not limited to, any restrictions required by rules of the Securities and Exchange Commission. 

8.7 Adjustments. In the event of a reorganization, recapitalization, stock dividend or stock split, reclassification, spin-off,
split-up, or combination or other change in the shares of Common Stock or any merger, consolidation or exchange of shares, the Board or the Committee shall, in order to prevent the dilution or enlargement of rights under outstanding Awards, make
such adjustments in the number and type of shares authorized by the Plan, the number and type of shares covered by outstanding Awards and the exercise and/or purchase prices specified therein as may be determined to be appropriate and equitable.

 8.8 Rights of Participants. Nothing in this Plan or in any Award Agreement shall interfere with or limit in any way the right of
the Company to terminate any Participant’s employment or other service to the Company at any time (with or without Cause), nor confer upon any Participant any right to continue in the employ of the Company for any period of time or to continue
his present (or any other) rate of compensation, and except as otherwise provided under this Plan or in the Award Agreement, in the event of any Participant’s termination of employment or other service to the Company (including, but not limited
to, the termination by the Company without Cause) any portion of such Participant’s Award that was not previously vested and exercisable shall expire and be forfeited as of the date of such termination. No employee shall have a right to be
selected as a Participant or, having been so selected, to be selected again as a Participant. 

  
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 8.9 Term of Plan. The Plan shall become effective upon its adoption by the Board and shall
continue in effect for a term of ten years unless sooner terminated under Section 8.11 below. 
 8.10 Amendment, Suspension
and Termination of Plan. The Board or the Committee may suspend or terminate the Plan or any portion thereof at any time and may amend it from time to time in such respects as the Board or the Committee may deem advisable; provided that no such
amendment shall be made without stockholder approval to the extent such approval is required by law, agreement or the rules of any exchange upon which the Common Stock is listed or required to insure that Incentive Stock Options granted under the
Plan are qualified under Section 422 of the Code, and no such amendment, suspension or termination shall impair the rights of Participants under outstanding Awards without the consent of the Participants affected thereby. No Awards shall be
granted hereunder after the tenth anniversary of the adoption of the Plan. 
 8.11 Amendment, Modification and Cancellation of
Outstanding Awards. The Committee may amend or modify any Award in any manner to the extent that the Committee would have had the authority under the Plan initially to grant such Award; provided that no such amendment or modification shall
impair the rights of any Participant under any Award without the consent of such Participant. With the Participant’s consent, the Committee may cancel any Award and issue a new Award to such Participant. Notwithstanding the foregoing, no
adjustment or amendment shall be made to the extent such action causes the Award to be subject to an additional tax or other penalty pursuant to Code Section 409A. 

8.12 Indemnification. In addition to such other rights of indemnification as they may have as members of the Board or the Committee,
the members of the Committee shall be indemnified by the Company against all costs and expenses reasonably incurred by them in connection with any action, suit or proceeding to which they or any of them may be party by reason of any action taken or
failure to act under or in connection with the Plan or any Award granted thereunder, and against all amounts paid by them in settlement thereof (provided such settlement is approved by independent legal counsel selected by the Company) or paid by
them in satisfaction of a judgment in any such action, suit or proceeding; provided that any such Committee member shall be entitled to the indemnification rights set forth in this Section 8.12 only if such member has acted in good faith
and in a manner that such member reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action or proceeding, had no reasonable cause to believe that such conduct was unlawful, and further
provided that upon the institution of any such action, suit or proceeding a Committee member shall give the Company written notice thereof and an opportunity, at its own expense, to handle and defend the same before such Committee member undertakes
to handle and defend it on his own behalf. 
 8.13 Section 409A of the Code. The Plan, and any Award granted hereunder are
intended to be exempt from or comply with the applicable requirements of Section 409A of the Code and shall be limited, construed and interpreted in accordance with such intent. To the extent that any Award is subject to Section 409A
of the Code, it shall be paid in a manner that will comply 

  
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with Section 409A of the Code, including proposed, temporary or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect
thereto. Notwithstanding anything herein to the contrary, any provision in the Plan that is inconsistent with Section 409A of the Code shall be deemed to be amended to comply with Section 409A of the Code and to the extent such
provision cannot be amended to comply therewith, such provision shall be null and void. The Company shall have no liability to a Participant, or any other party, if an Award that is intended to be exempt from, or compliant with,
Section 409A of the Code is not so exempt or compliant or for any action taken by the Committee, the Board, the Company or any of its Subsidiaries and, in the event that any amount or benefit under the Plan becomes subject to penalties under
Section 409A of the Code, responsibility for payment of such penalties shall rest solely with the affected Participants and not with the Company or any of its Subsidiaries. 

8.14 Addenda. The Committee or the Board may approve such addenda to the Plan as it may consider necessary or appropriate for the
purpose of granting Awards to Participants, which Awards may contain such terms and conditions as the Committee or the Board deems necessary or appropriate to accommodate differences in local law, tax policy or custom, which may deviate from the
terms and conditions set forth in this Plan. The terms of any such addenda shall supersede the terms of the Plan to the extent necessary to accommodate such differences but shall not otherwise affect the terms of the Plan as in effect for any other
purpose. 
 * * * * 

  
 12EX-10.20

 Exhibit 10.20 

NON-QUALIFIED STOCK OPTION AGREEMENT 

UNDER THE SAILPOINT TECHNOLOGIES HOLDINGS, INC. 

2015 STOCK OPTION AND GRANT PLAN 
  

			
	Name of Optionee:	  	                         (the “Optionee”)
		
	No. of Time-Vested Option Shares:	  	                     Shares of Common Stock
		
	No. of Performance-Vested Option Shares:	  	                     Shares of Common Stock
		
	Grant Date:	  	                     (the “Grant Date”)
		
	Expiration Date:	  	                     (the “Expiration Date”)
		
	Option Exercise Price/Share:	  	$                     (the “Option Exercise Price”)

 Pursuant to the SailPoint Technologies Holdings, Inc. 2015 Stock Option and Grant Plan (the “Plan”),
SailPoint Technologies Holdings, Inc., a Delaware corporation (together with all successors thereto, the “Company”), hereby grants to the Optionee, who is an officer, employee, director, consultant or other key person of the Company or any
of its Subsidiaries, an option (the “Stock Option”) to purchase on or prior to the Expiration Date, or such earlier date as is specified herein, all or any part of the number of shares of Common Stock, par value $0.0001 per share
(“Common Stock”), of the Company indicated above of which (i) [            ] shares of such Common Stock are referred to herein as “Time-Vested Option Shares” and
(ii) [            ] shares of such Common Stock are referred to herein as “Performance-Vested Option Shares” (together, the “Option Shares,” and such shares once
issued shall be referred to as the “Issued Shares”), at the Option Exercise Price per share, subject to the terms and conditions set forth in this Non-Qualified Stock Option Agreement (this “Agreement”) and in the Plan. This
Stock Option is not intended to qualify as an “incentive stock option” as defined in Section 422(b) of the Internal Revenue Code of 1986, as amended from time to time (the “Code”). 

1. Definitions. For the purposes of this Agreement, the following terms shall have the following respective meanings. All capitalized
terms used herein and not otherwise defined shall have the respective meanings set forth in the Plan. 
 “Bankruptcy” shall
mean (i) the filing of a voluntary petition under any bankruptcy or insolvency law, or a petition for the appointment of a receiver or the making of an assignment for the benefit of creditors, with respect to the Optionee or any Permitted
Transferee, as the case may be, or (ii) the Optionee or any Permitted Transferee, as the case may be, being subjected involuntarily to such a petition or assignment or to an attachment or other legal or equitable interest with respect to the
Optionee’s or such Permitted Transferee’s assets, which involuntary petition or assignment or attachment is not discharged within 60 days after its date, and (iii) the Optionee or any Permitted Transferee being subject to a transfer
of the Stock Option or the Issued Shares by operation of law (including by divorce, even if not insolvent), except by reason of death. 

 “Cause” means a vote of the Board of Directors of the Company (the
“Board”) resolving that Grantee should be dismissed as a result of (i) Grantee’s conviction of a felony; (ii) Grantee engaging in any other act of fraud, intentional misrepresentation, moral turpitude, misappropriation or
embezzlement, illegality or unlawful harassment which, as determined by the Board in good faith and in light of all available facts, would: (A) materially adversely affect the business or the reputation of the Company with its current or
prospective customers, suppliers, lenders and/or other third parties with whom the Company does or might do business; or (B) expose the Company to a risk of material civil or criminal legal damages, liabilities or penalties; (iii) the
repeated willful failure by Grantee to follow the reasonable directives of the Board in connection with the business affairs of the Company; or (iv) any material breach by Grantee of this Agreement or material violation of the Company’s
policies; or (v) willful and deliberate non-performance of duty by Grantee in connection with the business affairs of the Company, provided, however, in the event of termination based on (iii), (iv) or (v), Grantee will have a period of
thirty (30) days after written notice to Grantee from the Company to cure the circumstance, if curable. In the event that the Grantee is a party to an employment agreement with the Company or any Subsidiary that contains a different definition
of “cause,” the definition set forth in such other agreement shall be applicable to the Grantee for purposes of this Agreement and not this definition. 

“EBITDA” shall mean the earnings before interest, taxes, depreciation and amortization of the Company and its Subsidiaries,
as determined by the Board in good faith. 
 “Fair Market Value” of the Common Stock on any given date means the fair
market value of the Stock determined in good faith by the Committee based on the reasonable application of a reasonable valuation method not inconsistent with Section 409A of the Code. If the Common Stock is admitted to quotation on a national
securities exchange, the determination shall be made by reference to market quotations. If there are no market quotations for such date, the determination shall be made by reference to the last date preceding such date for which there are market
quotations; provided further, however, that if the date for which Fair Market Value is determined is the first day when trading prices for the Common Stock are reported on a national securities exchange, the Fair Market Value shall be the
“Price to the Public” (or equivalent) set forth on the cover page for the final prospectus relating to the Company’s Initial Public Offering. 

“Permitted Transferees” shall have the meaning assigned to such term in the Stockholders Agreement. 

“Person” shall mean any individual, corporation, partnership (limited or general), limited liability company, limited
liability partnership, association, trust, joint venture, unincorporated organization or any similar entity. 
 “Sale
Event” shall mean and include any of the following: (a) consummation of a merger or consolidation of the Company with or into any other corporation or other entity in which holders of the Company’s voting securities immediately
prior to such merger or consolidation will not, directly or indirectly, continue to hold at least a majority of the outstanding voting securities of the Company; (b) a sale, lease, exchange or other transfer (in one transaction or a related
series of transactions) of all or substantially all of the Company’s and its subsidiaries assets on a consolidated basis to an unrelated person or entity; (c) the acquisition by 

  
 2 

 
any person or any group of persons, acting together in any transaction or related series of transactions, of such quantity of the Company’s voting securities as causes such person, or group
of persons, to own beneficially, directly or indirectly, as of the time immediately after such transaction or series of transactions, 50 percent or more of the combined voting power of the voting securities of the Company other than as a result of
(i) an acquisition of securities directly from the Company or (ii) an acquisition of securities by the Company which by reducing the voting securities outstanding increases the proportionate voting power represented by the voting
securities owned by any such person or group of persons to 50 percent or more of the combined voting power of such voting securities; or (d) the liquidation or dissolution of the Company. 

“Service Relationship” shall mean any relationship as an employee, part-time employee, director or other key person
(including consultants) of the Company or any Subsidiary or any successor entity such that, for example, a Service Relationship shall be deemed to continue without interruption in the event the Optionee’s status changes from full-time employee
to part-time employee or consultant. 
 “Subsidiary” means any corporation or other entity (other than the Company) in
which the Company has at least a fifty percent (50%) interest, either directly or indirectly. 
 2. Vesting, Exercisability and
Termination. 
 (a) No portion of this Stock Option may be exercised until such portion shall have vested. 

(b) Except as set forth below, and subject to the determination of the Committee in its sole discretion to accelerate the vesting schedule
hereunder, this Stock Option shall be vested and exercisable with respect to the Option Shares on the respective dates indicated below: 

(i) (A) twenty-five percent (25%) of the Time-Vested Option Shares will become vested on
[                    ] and (B) the remaining Time-Vested Option Shares will become vested in equal installments on a monthly basis over the
36-month period following [                    ]. 

(ii) The Performance-Vested Option Shares will become vested in accordance with the following schedule effective upon the good
faith confirmation by at least a majority of the members of the Board that EBITDA for such fiscal year equals or exceeds the target EBITDA for such fiscal year (as set forth in the schedule below, the “Target EBITDA”); provided that
Grantee is and has been continuously employed by the Company or its Subsidiaries through the end of such fiscal year. Upon confirmation by the Board that EBITDA for any given fiscal year does not equal or exceed the applicable Target EBITDA, then
all Performance-Vested Option Shares for such fiscal year that would have otherwise vested had EBITDA equaled or exceeded the applicable Target EBITDA, shall not be vested (the “Unvested Restricted Stock”); provided that, if EBITDA
for the following fiscal year does equal or exceed the applicable Target EBITDA of such following fiscal year, then such Unvested Restricted Stock for such prior fiscal year shall vest upon confirmation that the Target EBITDA of such following

  
 3 

 
fiscal year was equaled or exceeded; provided further that, if EBITDA for the following year also does not equal or exceed the applicable Target EBITDA for such following fiscal year, then
the Unvested Restricted Stock of the prior fiscal year shall be subject to repurchase by the Company at any time at Grantee’s original cost. 
  

									
	 Fiscal Year Ended
	  	Target
EBITDA	 	 	Incremental Percentage of
Performance-Vested Option Shares that Vest 
if
Actual EBITDA meets or exceeds Target EBITDA	 
	 December 31, 2015
	  	$	[	•] 	 	 	25	% 
	 December 31, 2016
	  	$	[	•] 	 	 	25	% 
	 December 31, 2017
	  	$	[	•] 	 	 	25	% 
	 December 31, 2018
	  	$	[	•] 	 	 	25	% 

 The Target EBITDA set forth above may be subsequently amended by resolution or written consent of the Board acting in its
reasonable discretion (and using financial models and assumptions consistent in all material respects with the financial models and assumptions used to develop the Target EBITDA specified above) to reflect any fundamental changes in the
Company’s business, including as a result of any material acquisition or divestiture. 
 (c) Notwithstanding anything herein to the
contrary, in the event of a Sale Event, this Stock Option and the Shares shall be treated as provided in Section 3(c) of the Plan. [INSERT ANY APPLICABLE ACCELERATION HERE.] 

(d) Termination. Except as may otherwise be provided by the Committee, if the Optionee’s Service Relationship is terminated, the
period within which to exercise this Stock Option will be subject to earlier termination as set forth below (and if not exercised within such period, shall thereafter terminate): 

(i) Termination Due to Death or Disability. If the Optionee’s Service Relationship terminates by reason of such
Optionee’s death or disability (as defined in Section 422(c) of the Code), this Stock Option may be exercised, to the extent exercisable on the date of such termination, by the Optionee, the Optionee’s legal representative or legatee
for a period of 12 months from the date of death or disability or until the Expiration Date, if earlier. 
 (ii) Other
Termination. If the Optionee’s Service Relationship terminates for any reason other than death or disability (as defined in Section 422(c) of the Code), and unless otherwise determined by the Committee, this Stock Option may be
exercised, to the extent exercisable on the date of termination, for a period of 90 days from the date of termination or until the Expiration Date or other termination date, if earlier; provided however, if the Optionee’s Service
Relationship is terminated for Cause, this Stock Option shall terminate immediately upon the date of such termination. 
 For purposes
hereof, the Committee’s determination of the reason for termination of the Optionee’s employment shall be conclusive and binding on the Optionee and his or her representatives or legatees or Permitted Transferees. Any portion of this Stock
Option that is not exercisable on the date of termination of the employment shall terminate immediately and be null and void. 

  
 4 

 3. Exercise of Stock Option. 

(a) The Optionee may exercise this Stock Option only in the following manner: Prior to the Expiration Date, the Optionee may deliver a Stock
Option exercise notice (an “Exercise Notice”) in the form of Appendix A hereto indicating his or her election to purchase some or all of the Option Shares with respect to which this Stock Option is exercisable at the time of
such notice. Such notice shall specify the number of Option Shares to be purchased. Payment of the purchase price may be made by one or more of the methods described below (payment instruments will be received subject to collection): 

(i) In cash, by certified or bank check, by wire transfer of immediately available funds, or other instrument acceptable to the
Committee in U.S. funds payable to the order of the Company in an amount equal to the purchase price of such Option Shares; 

(ii) By the Optionee delivering to the Company a promissory note if the Board has expressly authorized the loan of funds to the
Optionee for the purpose of enabling or assisting the Optionee to effect the exercise of his or her Stock Option; provided, that at least so much of the exercise price as represents the par value of the Stock shall be paid other than with a
promissory note if otherwise required by state law; or 
 (iii) if the Initial Public Offering has occurred, then
(A) through the delivery (or attestation to ownership) of shares of Stock that have been purchased by the Optionee on the open market or that are beneficially owned by the Optionee and are not subject to restrictions under any plan of the
Company, provided that, to the extent required to avoid variable accounting treatment under ASC 718 or other applicable accounting rules, such surrendered shares shall have been owned by the Optionee for at least six months, and in any event
with an aggregate Fair Market Value (as of the date of such exercise) equal to the option purchase price, (B) by the Optionee delivering to the Company a properly executed Exercise Notice together with irrevocable instructions to a broker to
promptly deliver to the Company cash or a check payable and acceptable to the Company to pay the option purchase price, provided that in the event the Optionee chooses to pay the option purchase price as so provided, the Optionee and the broker
shall comply with such procedures and enter into such agreements of indemnity and other agreements as the Committee shall prescribe as a condition of such payment procedure, or (C) a combination of (i), (ii), (iii)(A) and (iii)(B) above. 

(b) Certificates for the Option Shares so purchased will be issued and delivered to the Optionee upon compliance to the satisfaction of the
Committee with all requirements under applicable laws or regulations in connection with such issuance. The Optionee shall be required to sign the Stockholders Agreement in connection with the exercise of the Stock Option. Until the Optionee shall
have complied with the requirements hereof and of the Plan, the Company shall be under no obligation to issue the Option Shares subject to this Stock Option, and the determination of the Committee as to such compliance shall be final and binding on
the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Common Stock subject to this Stock Option 

  
 5 

 
unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company shall have issued and delivered the Issued Shares to the Optionee, and the Optionee’s
name shall have been entered as a stockholder of record on the books of the Company. Thereupon, the Optionee shall have full dividend and other ownership rights with respect to such Issued Shares, subject to the terms of this Agreement. 

(c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date.

 4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by
all the terms and conditions of the Plan. 
 5. Transferability of Stock Option. This Agreement is personal to the Optionee and is
not transferable by the Optionee in any manner other than by will or by the laws of descent and distribution. The Stock Option may be exercised during the Optionee’s lifetime only by the Optionee (or by the Optionee’s guardian or personal
representative in the event of the Optionee’s incapacity). The Optionee may elect to designate a beneficiary by providing written notice of the name of such beneficiary to the Company, and may revoke or change such designation at any time by
filing written notice of revocation or change with the Company; such beneficiary may exercise the Optionee’s Stock Option in the event of the Optionee’s death to the extent provided herein. If the Optionee does not designate a beneficiary,
or if the designated beneficiary predeceases the Optionee, the legal representative of the Optionee may exercise this Stock Option to the extent provided herein in the event of the Optionee’s death. 

6. Effect of Certain Transactions. 

(a) In the case of a Sale Event, this Stock Option shall terminate upon the effective time of such Sale Event unless provision is made in
connection with such transaction, in the sole discretion of the parties thereto, for the continuation or assumption of this Stock Option heretofore granted, or the substitution of this Stock Option with a new Stock Option of the successor entity or
a parent thereof, with such adjustment to the number and kind of shares and the per share exercise prices as such parties shall agree. In the event of such a termination, the Optionee shall be permitted, for a specified period of time prior to the
consummation of the Sale Event as determined by the Committee, to exercise all portions of the Stock Option which are then exercisable. 

(b) In the event that this Stock Option is converted into a Converted Award, then this Agreement shall thereafter entitle the holder to the
rights of a holder of a Converted Award. 
 7. Withholding Taxes. The Optionee shall, not later than the date as of which the
exercise of this Stock Option becomes a taxable event for federal income tax purposes, pay to the Company or make arrangements satisfactory to the Committee for payment of any federal, state and local taxes required by law to be withheld on account
of such taxable event. Subject to approval by the Committee, the Optionee may elect to have the minimum tax withholding obligation satisfied, in whole or in part, by authorizing the Company to withhold from shares of Common Stock to be issued or
transferring to the Company, a number of shares of Common 

  
 6 

 
Stock with an aggregate Fair Market Value that would satisfy the minimum withholding amount due. The Optionee acknowledges and agrees that the Company or any Subsidiary of the Company has the
right to deduct from payments of any kind otherwise due to the Optionee, or from the Option Shares to be issued in respect of an exercise of this Stock Option, any federal, state or local taxes of any kind required by law to be withheld with respect
to the issuance of Option Shares to the Optionee. 
 8. Restrictions on Transfer of Issued Shares. 

(a) Stockholders Agreement. The Issued Shares shall be subject to the transfer and other restrictions contained in the Stockholders
Agreement. 
 (b) Opinion of Counsel. No holder of Issued Shares may sell, transfer or dispose of such Issued Shares (except pursuant
to an effective registration statement under the Securities Act) without first delivering to the Company, if requested by the Company in its sole discretion, an opinion of counsel (reasonably acceptable in form and substance to the Company) that
neither registration nor qualification under the Securities Act and applicable state securities laws is required in connection with such transfer. 

9. Company’s Right of Repurchase. 

(a) Right of Repurchase. The Company shall have the right (the “Repurchase Right”) upon the occurrence of any of the events
specified in Section 9(b) below (the “Repurchase Event”) to repurchase from the Optionee (or any Permitted Transferee) some or all (as determined by the Company) of the Issued Shares held or subsequently acquired upon exercise of this
Stock Option in accordance with the terms hereof by the Optionee (or any Permitted Transferee) at the price per share specified below (the “Repurchase Price”). The Repurchase Right may be exercised by the Company within the later of
(i) six months following the date of such event or (ii) seven months after the exercise of this Stock Option (the “Repurchase Period”). The Repurchase Right shall be exercised by the Company by giving the Optionee or any
Permitted Transferee written notice (the “Repurchase Notice”) on or before the last day of the Repurchase Period of its intention to exercise the Repurchase Right, and, together with the Repurchase Notice, tendering to the Optionee or any
Permitted Transferee the Repurchase Price for the shares being repurchased. The Company may assign the Repurchase Right to one or more Persons. Upon such notification, the Optionee and any Permitted Transferees shall promptly surrender to the
Company any certificates representing the Issued Shares being repurchased, together with a duly executed stock power for the transfer of such Issued Shares to the Company or the Company’s assignee or assignees. Upon the Company’s or its
assignee’s receipt of the certificates from the Optionee or any Permitted Transferees (or at such later date as is determined necessary by the Committee to avoid any breach by the Company of any agreement to which it is a party), the Company or
its assignee or assignees shall deliver to him, her or them a check for the Repurchase Price of the Issued Shares being purchased; provided, however, that the Company may pay the Repurchase Price for such shares by offsetting and
canceling any indebtedness then owed by the Optionee to the Company. The Repurchase Right shall terminate in accordance with Section 12(a). 

  
 7 

 (b) Company’s Right to Exercise Repurchase Right. The Company shall have the
Repurchase Right in the event that any of the following events shall occur: 
 (i) The termination of the Optionee’s
Service Relationship for any reason whatsoever, regardless of the circumstances thereof, and including without limitation upon death, disability, retirement, discharge or resignation for any reason, whether voluntarily or involuntarily; or 

(ii) The Optionee’s or Permitted Transferee’s Bankruptcy. 

(c) Repurchase Price. The Repurchase Price for any Issued Shares being repurchased hereunder shall be (i) in the case of any such
repurchase following a termination of the Optionee’s Service Relationship by the Company for Cause, the lesser of the amount paid by the Optionee to acquire such Issued Shares and the Fair Market Value of such Issued Shares and (ii) in the
case of any other Repurchase Event, the Fair Market Value of such Issued Shares. 
 (d) Determination of Fair Market Value. The Fair
Market Value of the Issued Shares shall be, for purposes of this Section 9, determined by the Board as of the date the Board elects to exercise its repurchase rights in connection with a Repurchase Event. 

(e) TB’s Repurchase Right. If the Company does not elect to repurchase all of the Issued Shares pursuant to the Repurchase Right,
TB shall be entitled to exercise the Repurchase Right for the Issued Shares that the Company has elected not to purchase (the “Available Shares”). As soon as practicable, but in any event within 90 days after a Repurchase Event, the
Company shall give written notice (the “Option Notice”) to TB setting forth the number of Available Shares and the Repurchase Price for the Available Shares, determined in accordance with Section 9(c) above. TB may elect to purchase
any or all of the Available Shares by giving written notice to the Company within 30 days after the Option Notice has been given by the Company. As soon as practicable, and in any event within ten days after the expiration of the 30-day period set
forth above, the Company shall notify the Optionee of the number of shares of Stock being repurchased from such Optionee by TB (the “Supplemental Repurchase Notice”). At the time the Company delivers the Supplemental Repurchase Notice to
the Optionee, the Company shall also deliver written notice to TB setting for the number of shares TB is entitled to repurchase, the aggregate Repurchase Price and the time and place of the closing of the transaction. 

(f) The closing of the purchase of the Issued Shares pursuant to the Repurchase Right shall take place on the date designated by the Company in
the Repurchase Notice or, if later, the Supplemental Repurchase Notice, which date shall be not more than 30 days but not less than five days after the delivery of the later of such notices. The Company will pay for the Issued Shares to be purchased
by it pursuant to the Repurchase Right by first offsetting amounts outstanding under any bona fide debts for money borrowed from the Company or for travel and expense advances owed by the Optionee to the Company (or one or more of the
Optionee’s Permitted Transferees, other than the Company or TB); upon full repayment of such bona fide debts, the Company will make payment by (i) a check or wire transfer of funds in the aggregate amount of the remaining purchase price
for such Issued Shares or (ii) in the event that the Board determines that a cash payment would breach, violate or 

  
 8 

 
constitute a default under any statute, regulation, contract or agreement to which the Company is a party or is subject or would otherwise be materially injurious to the Company, then by delivery
of a subordinated note in the aggregate amount of the remaining purchase price for such Issued Shares payable in equal annual installments on the first, second and third anniversaries of the closing of the purchase of the Issued Shares and accruing
interest at the applicable federal rate (which shall be payable upon payment of the principal amount of such note, which note shall be prepayable in full or in part at any time without penalty or premium). TB will pay for the Issued Shares to be
purchased by it pursuant to the Repurchase Right by delivery of a check or wire transfer of funds in the aggregate amount of the purchase price for such shares. The Company and TB will be entitled to receive customary representations and warranties
from the sellers regarding such sale and to require all sellers signatures be guaranteed. 
 (g) The repurchase of the Issued Shares by the
Company shall be subject to the applicable restrictions contained in the Delaware General Corporation Law and in the Company’s and its Subsidiaries debt and equity financing agreements. If any such restrictions prohibit the purchase of the
Issued Shares which the Company is otherwise entitled to make, the Company may, notwithstanding anything in this Agreement to the contrary, delay any such purchases until such time as it is permitted to do so under the restrictions. 

10. Escrow Arrangement. 

(a) Escrow. In order to carry out the provisions of Sections 8 and 9 of this Agreement more effectively, the Company shall hold any
Issued Shares in escrow together with separate stock powers executed by the Optionee in blank for transfer, and any Permitted Transferee shall, as an additional condition to any transfer of Issued Shares, execute a like stock power as to such Issued
Shares. The Company shall not dispose of the Issued Shares except as otherwise provided in this Agreement. In the event of any repurchase by the Company (or any of its assigns), the Company is hereby authorized by the Optionee and any Permitted
Transferee, as the Optionee’s and each such Permitted Transferee’s attorney-in-fact, to date and complete the stock powers necessary for the transfer of the Issued Shares being purchased and to transfer such Issued Shares in accordance
with the terms hereof. At such time as any Issued Shares are no longer subject to the Company’s repurchase rights and the transfer restrictions, the Company shall, at the written request of the Optionee, deliver to the Optionee (or the relevant
Permitted Transferee) a certificate representing such Issued Shares with the balance of the Issued Shares to be held in escrow pursuant to this Section 10. 

(b) Remedy. Without limitation of any other provision of this Agreement or other rights, in the event that the Optionee, any Permitted
Transferees or any other person or entity is required to sell the Optionee’s Issued Shares pursuant to the provisions of Sections 8 and 9 of this Agreement and in the further event that he or she refuses or for any reason fails to deliver
to the Company or its designated purchaser of such Issued Shares the certificate or certificates evidencing such Issued Shares together with a related stock power, the Company or such designated purchaser may deposit the applicable purchase price
for such Issued Shares with a bank designated by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the Optionee, any Permitted Transferees or other person or entity, to be held by such
bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then 

  
 9 

 
owed by the Optionee as provided above. Upon any such deposit and/or offset by the Company or its designated purchaser of such amount and upon notice to the person or entity who was required to
sell the Issued Shares to be sold pursuant to the provisions of Sections 8 and 9, such Issued Shares shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further
rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and the Company shall record such transfer in its stock transfer book or in any appropriate manner. 

11. Lockup Provision. The Optionee agrees, if requested by the Company and any underwriter engaged by the Company, not to sell or
otherwise transfer or dispose of any securities of the Company (including, without limitation, pursuant to Rule 144 under the Act) held by him or her for (a) 180 days following the effective date of the relevant registration statement filed
under the Act in connection with the Company’s Initial Public Offering, or (b) 90 days following the effective date of the relevant registration statement in connection with any other public offering of Stock, as the Company and such
underwriter shall specify reasonably and in good faith. Notwithstanding the foregoing, if: (x) during the last 17 days of the foregoing 180-day period or 90-day period, as applicable, the Company issues an earnings release or material news or a
material event relating to the Company occurs; or (y) prior to the expiration of the 180-day period or 90-day period, as applicable, the Company announces that it will release earnings results during the 16-day period beginning on the last day
of the period, then the restrictions described above shall continue to apply until the expiration of an 18-day period beginning on the issuance of the earnings release or the occurrence of the material news or material event. The Optionee agrees, if
requested by the underwriter engaged by the Company, to execute a separate letter reflecting the agreement set forth in this Section 11. 

12. Miscellaneous Provisions. 

(a) Termination. The Company’s repurchase rights under Section 9 shall terminate upon the closing of the Company’s
Initial Public Offering or upon consummation of any Sale Event, in either case as a result of which shares of the Company (or successor entity) of the same class as the Issued Shares are registered under Section 12 of the Exchange Act and
publicly traded on any national securities exchange. 
 (b) Equitable Relief. The parties hereto agree and declare that legal remedies
may be inadequate to enforce the provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement. 

(c) Adjustments for Changes in Capital Structure. If, as a result of any reorganization, recapitalization, reincorporation,
reclassification, stock dividend, stock split, reverse stock split or other similar change in the Common Stock, the outstanding shares of Common Stock are increased or decreased or are exchanged for a different number or kind of shares of the
Company’s stock, the restrictions contained in this Agreement shall apply with equal force to additional and/or substitute securities, if any, received by the Optionee in exchange for, or by virtue of his or her ownership of, Issued Shares.

  
 10 

 (d) Change and Modifications. This Agreement may not be orally changed, modified or
terminated, nor shall any oral waiver of any of its terms be effective. This Agreement may be changed, modified or terminated only by an agreement in writing signed by the Company and the Optionee. 

(e) Governing Law. This Agreement shall be governed by and construed in accordance with the General Corporation Law of the State of
Delaware as to matters within the scope hereof, and as to all other matters shall be governed by and construed in accordance with the internal laws of the State of Texas, without regard to conflict of law principles that would result in the
application of any law other than the law of the State of Texas. 
 (f) Headings. The headings are intended only for convenience in
finding the subject matter and do not constitute part of the text of this Agreement and shall not be considered in the interpretation of this Agreement. 

(g) Saving Clause. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination shall in
no manner affect the legality or enforceability of any other provision hereof. 
 (h) Notices. All notices, requests, consents and
other communications shall be in writing and be deemed given when delivered personally, by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices to the Company or the
Optionee shall be addressed as set forth underneath their signatures below, or to such other address or addresses as may have been furnished by such party in writing to the other. 

(i) Benefit and Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their
respective successors, permitted assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee shall become entitled to all the rights of the Company hereunder to the extent of such assignment. TB is an
intended third party beneficiary of certain provisions of this Agreement. 
 (j) Dispute Resolution. Except as provided below, any
dispute arising out of or relating to this Agreement or the breach, termination or validity hereof shall be finally settled by binding arbitration conducted expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and
Procedures (the “J.A.M.S. Rules”). The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. §§1-16, and judgment upon the award rendered by the arbitrators may be
entered by any court having jurisdiction thereof. The place of arbitration shall be Austin, Texas. 
 The parties covenant and agree that
the arbitration shall commence within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents
by each party and any third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving party. However, the
arbitrator shall not have the power to order the answering of interrogatories or the response to requests for admission. In 

  
 11 

 
connection with any arbitration, each party shall provide to the other, no later than seven business days before the date of the arbitration, the identity of all persons that may testify at the
arbitration and a copy of all documents that may be introduced at the arbitration or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and delivered within six months of the selection of
the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of actual compensatory damages and shall not multiply
actual damages or award punitive damages or any other damages that are specifically excluded under this Agreement, and each party hereby irrevocably waives any claim to such damages. 

The parties covenant and agree that they will participate in the arbitration in good faith. This Section 12(j) applies equally to
requests for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and
irreparable harm. 
 Each of the parties hereto (i) hereby irrevocably submits to the jurisdiction of any United States District Court
of competent jurisdiction for the purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim
that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable law), that the suit,
action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and hereby waives and agrees not to
seek any review by any court of any other jurisdiction which may be called upon to grant an enforcement of the judgment of any such court. Each of the parties hereto hereby consents to service of process by registered mail at the address to which
notices are to be given. Each of the parties hereto agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process by mail is made for the express benefit of the other parties hereto. Final judgment against
any party hereto in any such action, suit or proceeding may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction. 

(k) Counterparts. For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. Signed counterparts of this Agreement may be delivered by facsimile and by scanned pdf image. 

[SIGNATURE PAGE FOLLOWS] 

  
 12 

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to
by the undersigned as of the date first above written. 
  

			
	SailPoint Technologies Holdings, Inc.
		
	 By:
	 	  

		 	Name:
		 	Title:
	
	 Address:

	
	  

	
	  

	
	  

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the
undersigned as of the date first above written. 
  

	
	OPTIONEE:
	
	  

Name:

	
	
	 Address:

	
	  

	
	  

	
	  

	

 SPOUSE’S CONSENT 
 I
acknowledge that I have read the foregoing 
 Non-Qualified Stock Option Agreement 

and understand the contents thereof. 

                          
                                         
 ] 

  
 13 

 
	
	DESIGNATED BENEFICIARY:
	
	  
 Beneficiary’s
Address:

	
	  

	
	  

	
	  

	

  
 14 

 Appendix A 

STOCK OPTION EXERCISE NOTICE 

SailPoint Technologies Holdings, Inc. 
 Attention:
                                     

                          
                           

                          
                           

Pursuant to the terms of my stock option agreement dated
                    (the “Agreement”) under the SailPoint Technologies Holdings, Inc. 2015 Stock Option and Grant Plan, I, [Insert Name]
                    , hereby [Circle One] partially/fully exercise such option by including herein payment in the amount of
$                    representing the purchase price for [Fill in number of Option Shares]
                    option shares. I have chosen the following form(s) of payment: 

[    ] 1. Cash 

[    ] 2. Certified or bank check payable to SailPoint Technologies Holdings, Inc. 

[    ] 3. Other (as described in the Agreement (please describe)) 

                        
                                         
                               . 

In connection with my exercise of the option as set forth above, I hereby represent and warrant to SailPoint Technologies Holdings, Inc. as
follows: 
 (i) I am purchasing the option shares for my own account for investment only, and not for resale or with a view
to the distribution thereof. 
 (ii) I have had such an opportunity as I have deemed adequate to obtain from SailPoint
Technologies Holdings, Inc. such information as is necessary to permit me to evaluate the merits and risks of my investment in SailPoint Technologies Holdings, Inc. and have consulted with my own advisers with respect to my investment in SailPoint
Technologies Holdings, Inc.. 
 (iii) I have sufficient experience in business, financial and investment matters to be able
to evaluate the risks involved in the purchase of the option shares and to make an informed investment decision with respect to such purchase. 

(iv) I can afford a complete loss of the value of the option shares and am able to bear the economic risk of holding such
option shares for an indefinite period of time. 

  
 15 

 (v) I understand that the option shares may not be registered under the
Securities Act of 1933 (it being understood that the option shares are being issued and sold in reliance on the exemption provided in Rule 701 thereunder) or any applicable state securities or “blue sky” laws and may not be sold or
otherwise transferred or disposed of in the absence of an effective registration statement under the Securities Act of 1933 and under any applicable state securities or “blue sky” laws (or exemptions from the registration requirement
thereof). I further acknowledge that certificates representing option shares will bear restrictive legends reflecting the foregoing. 
  

	
	Sincerely yours,
	
	  

Name:

	
	 Address:

	
	  

	
	  

	
	  

  
 16

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