Document:

Investor's Registration Rights Agreement dated October 1, 2002

 Exhibit 4.3 
 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is
made and entered into this 1st day of October, 2002, but made effective as of the 30th day of November, 1999 (the “Effective Date”), by and among Macro Holding, Inc., a Delaware corporation (the “Company”), and the securities
holders of the Company set forth on Exhibit A attached hereto (such persons being referred to herein as the “Investors” and individually as an “Investor”). 
 WITNESSETH: 
 WHEREAS, each Investor currently holds shares of the
Company’s common stock or preferred stock and have previously been made a party to the November 30, 1999 Registration Agreement between Rackspace, Ltd. and certain of its limited partners (the “Initial Registration Rights
Agreement”); and 
 WHEREAS, Rackspace, Ltd. has been reorganized so that the Investors now own securities in Macro Holding, Inc. rather
than limited partnership interests in Rackspace, Ltd.; and 
 WHEREAS, the Initial Registration Rights Agreement currently applies to the
capital stock owned by the Investors, however, for clarification purposes, the parties desire to execute this Registration Rights Agreement, which contains the same terms as the Initial Registration Rights Agreement; 
 NOW THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the parties hereto hereby agree
as follows: 
 Section 1. Certain Definitions. As used in this Agreement, the following definitions shall apply: 
 “Affiliate” means a Person who directly or indirectly controls, is controlled by, or is under common control with, the Person referred
to. For this purpose, “control” means the ability to direct or cause the direction of the management or affairs of a Person, whether through the ownership of voting securities, by contract or otherwise. 
 “Commission” means the Securities and Exchange Commission or any other federal agency at the time administering the Securities Act.

 “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any similar successor federal statute, and the
rules and regulations thereunder, all as the same shall be in effect from time to time. 
 “Family Affiliate” means, with
respect to any Investor, (i) a natural Person who is a spouse, lineal descendent or spouse of a lineal descendent, or any trust or family trust of which the Investor or any of such Persons is the trustee or a beneficiary (ii) a
corporation, partnership, 

  

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limited partnership, limited liability company or other business entity if and for so long as the Investor holds, directly or indirectly, equity securities
or interests in such entity having the right to elect a majority of the members of the board of directors or other governing body or to otherwise manage the affairs of the entity. 
 “Holder” means any holder of outstanding Registrable Securities; provided, however, that for all purposes under this Agreement, the
holder of any Registrable Securities shall be deemed to be the Holder of the Registrable Securities into which such Registrable Securities are then convertible. 
 “Person” means any natural Person, any unincorporated organization or association, and any partnership, limited liability company, corporation, estate, trust, nominee, custodian or other individual or
entity. 
 The terms “register,” “registered” and “registration” refer to a registration
effected by preparing and filing a registration statement in compliance with the Securities Act (and any post-effective amendments thereto filed or required to be filed, and the declaration or ordering of the effectiveness of such registration
statement. 
 “Registrable Securities” means: (i) the shares of Common Stock and Series A Convertible Preferred Stock
held by the Investors as set forth on Exhibit A to this Agreement, and (ii) any securities of the Company issued or issuable, directly or indirectly, by way of exchange for such Common Stock or Series A Convertible Preferred Stock held by the
Investors, together with any other securities which are issued with respect thereto by way of any stock split, stock dividend, recapitalization, reorganization, or similar event; provided, however, that Registrable Securities shall not include any
Registrable Securities which have previously been registered or sold to the public or which are eligible for sale to the public under paragraph (k) of Rule 144 as defined below. 
 “Registration Date” means the effective date of the first registration statement filed by the Company for an offering of its securities
to the general public, or the date on which the Company first becomes subject to the registration requirements of Section 12(b) or Section 12(g) of the Securities Exchange Act. whichever first occurs. 
 “Registration Expenses” means all expenses incurred by the Company in complying with registration obligations hereunder, including,
without limitation, all registration, qualification and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company and the reasonable fees and disbursements of not more than one counsel chosen by the Holders who
are the holders of a majority of Registrable Securities being registered, blue sky fees and expenses, and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular employees of the
Company which shall be paid in any event by the Company). Registration Expenses shall not include fees of counsel for the Holders other than of one counsel as set forth above or Selling Expenses as defined below. 
  

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 “Requisite Holders” means Holders of not less than 50% of the Registrable Securities;
except in the case of a Demand Registration for the first registered offering of the Company’s securities it means holders of not less than 40% of the then outstanding equity securities of the Company. 
 “Rule 144” means Rule 144 promulgated under the Securities Act, or any similar successor rule, as the same shall be in effect from time
to time. 
 “Rule 145” means Rule 145 promulgated under the Securities Act, or any similar successor rule, as the same shall
be in effect from time to time. 
 “Rule 415” means Rule 415 promulgated under the Securities Act, or any similar successor
rule, as the same shall be in effect from time to time. 
 “Selling Expenses” shall mean all underwriting discounts, selling
commissions and stock transfer taxes applicable to the sale of Registrable Securities. 
 “Securities Act” means the
Securities Act of 1933, as amended, or any similar federal statute, and the rules and regulations of the Commission thereunder, as shall be in effect at the time. 
 “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules, regulations and interpretations promulgated thereunder. 
 Section 2. Demand Registration. 
 (a) Request for Registration. If, at any time after the first to occur of (i) 180 days following the Registration Date or (ii) the third anniversary of the Effective Date of this Agreement, the Company shall receive from
the Requisite Holders a written request that the Company effect the registration under the Securities Act of the resale of Registrable Securities held by such Requisite Holders (a “Demand Registration”), then the Company shall: 

(i) promptly give written notice of the proposed registration to all other Holders; and 
 (ii) use its best efforts to effect, as soon as practicable, the registration under the Securities Act (including, without limitation, by means of a
shelf registration pursuant to Rule 415 under the Securities Act if so requested and if the Company is then eligible to use such a registration) of the Registrable Securities which the Company has been so requested to register, together with all or
such portion of the Registrable Securities of any Holders joining in such request as are specified in a written request received by the Company within 20 days after the Company mails such written notice in accordance with the registration procedures
set forth in Section 6 hereof;  
 provided, however, that the Company shall not be obligated to take any action to effect any such
registration under the Securities Act: 
 (A) after the Company has effected one such registration pursuant to this
Section 2 which have been declared or ordered effective and pursuant to which securities have been sold; or 
  

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 (B) if such request is for a shelf registration pursuant to Rule 415 of the Securities
Act and is in connection with the first registration statement filed by the Company. 
 Subject to the foregoing clauses (A) and
(B) the Company shall file a registration statement covering the Registrable Securities so requested to be registered as soon as practicable, and in any event within 120 days, after receipt of the request or requests of the Requisite Holders;
provided, however, that if the Company shall furnish to such Holder a certificate signed by the president of the Company stating that in the good faith judgment of the board of directors of the Company, it would be seriously detrimental to the
Company or its shareholders for such registration statement to be filed on or before the date filing would be required and it is therefore essential to defer the filing of such registration statement, the Company shall have the right to defer such
filing for a reasonable period not to exceed 90 days. The Company’s right to delay such registration as set forth in the previous sentence may only be exercised one time during any twelve month period. 
 (b) Priority on Underwritten Demand Registrations. If the Requisite Holders so elect, the offering of such Registrable Securities pursuant to such
Demand Registration shall be in the form of an underwritten offering. In such event, if the managing underwriter or underwriters of the Demand Registration advise the Company and the Requisite Holders in writing that the total amount of Registrable
Securities requested to be included in such offering would exceed the maximum amount of securities which can be marketed at a price reasonably related to the current fair market value of such securities without adversely affecting such offering (the
“Underwriters Maximum Number”), the Company will be required to include in such registration to the extent of the Underwriters Maximum Number: first, the Registrable Securities requested to be included in such registration by the Holders
thereof, allocated pro rata among such Holders on the basis of the number of Registrable Securities requested to be included therein by each such Holder; and second, any equity securities requested to be included in such registration by the Company
and any other holders of such securities, allocated as determined by the Company subject to any agreements between the Company and any such holders. 
 (c) Selection of Underwriters. The managing underwriter or underwriters to be used in connection with such registration shall be selected by the Requisite Holders holding a majority of the Registrable
Securities being registered. The Company shall have the right to approve the selection of any such underwriters, which approval shall not be unreasonably withheld. 
  

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 (d) Underwriting Agreements. The Company shall (together with all Holders selling Registrable
Securities) enter into an underwriting agreement in customary form with the managing underwriter selected for such underwriting by a majority in interest of the Requisite Holders, and each Holder selling Registrable Securities shall participate in
such underwriting. 
 (e) Withdrawal from Underwriting. If any Holder of Registrable Securities disapproves of the terms of the
underwriting, such person may elect to withdraw therefrom by written notice to the Company, the managing underwriter and the Requisite Holders. The Registrable Securities and/or other securities so withdrawn shall also be withdrawn from
registration, and such Registrable Securities shall not be transferred in a public distribution prior to 90 days after the effective date of such registration, or such other shorter period of time as the underwriters may require. If by the
withdrawal of such Registrable Securities a greater number of Registrable Securities held by other Holders may be included in such registration (up to the maximum of any limitation imposed by the underwriters), then the Company shall offer to all
Holders who have included Registrable Securities’ in the registration the right to include additional Registrable Securities in the same proportion and manner used in determining the underwriter limitation in this Section 2. 
 (f) Inclusion as a Demand Registration. For purposes of this Section 2, a registration will not count as a Demand Registration until it has
become effective; provided, however, if the Requisite Holders withdraw their Registrable Securities (whether before or after the effectiveness of such registration), such demand will count as a Demand Registration for purposes of this Section 2
unless the Requisite Holders pay all of the Registration Expenses associated with such attempted registration. 
 (g) Rights of other
Securities Holders Joining Demand. In order for the Requisite Holders to make a Demand Registration that would result in the first public offering of the securities of the Company, it will be necessary to have other equity securities holders of
the Company (as selected in the discretion of the Investors) join the Investors in making such demand. In such event, the holders of Company securities joining the Investors in that Demand Registration shall be entitled to participate in that
particular registration on the same basis as the Investors. 
 Sections 3. Piggyback Registration. 
 (a) Right to Include Registrable Securities. Whenever the Company proposes to register the sale of any of its equity securities under the
Securities Act other than on Form S-4 or Form S-8 promulgated under the Securities Act or any similar form then in effect, the Company shall give written notice thereof to each Holder as soon as practicable (but in any event at least 30 days before
such filing), offering such Holder the opportunity to register on such registration statement such number of Registrable Securities as such Holder may request in writing, subject to the provisions of Section 3(b), not later than 20 days after
the date of the giving of such notice (a “Piggyback Registration”). Upon receipt by the Company of any such request, the Company shall use reasonable efforts to, or in the case of an underwritten offering, to cause the managing underwriter
or underwriters to, include such Registrable Securities in such 

  

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registration statement (or in a separate registration statement concurrently filed) and to cause such registration statement to become effective with respect
to such Registrable Securities in accordance with the registration procedures set forth in Section 6 hereof. If the Company’s registration is to be effected pursuant to an underwritten offering, Registrable Securities registered pursuant
to this Section 3 shall be distributed in accordance with such offering. Notwithstanding the foregoing, if at any time after giving written notice of its intention to register its equity securities and before the effectiveness of the
registration statement filed in connection with such registration, the Company determines for any reason either not to effect such registration or to delay such registration, the Company may, at its election, by delivery of written notice to each
Holder (A) in the case of a determination not to effect registration, relieve itself of its obligation to register the Registrable Securities in connection with such registration or (B) in the case of a determination to delay registration,
delay the registration of such Registrable Securities for the same period as the delay in the registration of such other equity securities. Each Holder requesting inclusion in a registration pursuant to this Section 3 may, at any time before
the effective date of the registration statement relating to such registration, revoke such request by delivering written notice of such revocation to the Company (which notice shall be effective only upon receipt by the Company); provided, however,
that if the Company, in consultation with its financial and legal advisors, determines that such revocation would materially delay the registration or otherwise require a recirculation of the prospectus contained in the registration statement, then
such holder shall have no right to so revoke its request. 
 (b) Priority in Piggyback Registration. Notwithstanding the foregoing,
with respect to any primary registration that is underwritten and with respect to which the managing underwriter or underwriters advise the Company of an Underwriters Maximum Number, then the Company will so notify all Holders requesting inclusion
in such registration and will be required to include in such registration, to the extent of the Underwriters Maximum Number: first, any equity securities that the Company proposes to sell for its own account (up to the Underwriters Maximum Number);
second, the Registrable Securities requested by Holders to be included in such registration allocated pro rata with any other holders of equity securities having piggyback registration rights on the basis of the number of securities requested to be
included therein by each such holder; and third, to the extent that the Underwriters Maximum Number has not been filled by the application of the preceding clauses, any further equity securities that the Company proposes to sell for its own account
and/or any equity securities requested to be included in such registration by other holders of such securities, allocated as determined by the Company subject to agreements between the Company and any such holders. 
 (c) Selection of Underwriters. If any Piggyback Registration is in the form of an underwritten offering, the managing underwriter or underwriters
and any additional investment bankers and managers to be used in connection with such registration shall be selected by the Company (subject to any separate agreement with the holders on behalf of which a secondary underwritten offering is being
made). The selection of such underwriters shall also be subject to the approval by the Holders participating in such underwritten offering holding a majority of the Registrable Securities being registered, which approval shall not be unreasonably
withheld. 
  

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 (d) Underwriting Agreements. All Holders proposing to distribute their securities through such
underwriting shall (together with the Company and the other holders distributing their securities through such underwriting) enter into an underwriting agreement in customary form with the managing underwriter selected for such underwriting by the
Company, and each Holder selling Registrable Securities shall participate in such underwriting. 
 (e) Withdrawal from Underwriting.
If any Holder or other holder disapproves of the terms of any such underwriting, he may elect to withdraw therefrom by written notice to the Company and the managing underwriter. Any securities excluded or withdrawn from such underwriting shall be
withdrawn from such registration, and shall not be transferred in a public distribution prior to 180 days after the effective date of the registration statement relating thereto, or such other shorter period of time as the underwriters may require.

 (f) Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by it
under this Section 3 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in such registration. 
 Section 4. Market Standoff. If the Company at any time shall register the offer and sale of shares of Common Stock to the public under the Securities Act (including any registration pursuant to Sections 2
or 3), the Holders shall not sell publicly, make any short sale of, grant any option for the purchase of, or otherwise dispose publicly of, any Registrable Securities (other than those shares of Common Stock included in such registration pursuant to
Sections 2 or 3) without the prior written consent of the Company for a period designated by the Company in writing to the Holders, which period shall begin not more than 10 days prior to the effectiveness of the registration statement pursuant to
which such public offering shall be made and shall not last more than 180 days after the effective date of such registration statement. The Company shall obtain the agreement of any person permitted to sell shares of stock in a registration to be
bound by and to comply with this Section 4 as if such person was a Holder hereunder. 
 Section 5. Expenses of Registration.
All Registration Expenses incurred connection with the one Demand Registration and the Piggyback Registrations shall be borne by the Company. All Selling Expenses relating to securities so registered as well as all Registration Expenses relating to
Demand Registrations and Piggyback Registrations not required to be borne by the Company shall be borne by the holders of such securities pro rata on the basis of the number of shares of securities so registered on their behalf. 
 Section 6. Registration Procedures. If and whenever the Company is required by the provisions of Section 2 or 3 hereof to use its best
efforts to effect promptly the registration of Registrable Securities, the Company shall: 
 (a) Prepare and file with the Commission a
registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become and remain effective as provided herein; 
  

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 (b) Prepare and file with the Commission such amendments and supplements to such registration statement
and the prospectus used in connection therewith as may be necessary to keep such registration statement effective and current and to comply with the provisions of the Securities Act with respect to the sale of or other disposition of all Registrable
Securities covered by such registration statement, including such amendments and supplements as may be necessary to reflect the intended method of disposition of the prospective seller or sellers of such Registrable Securities, but for no longer
than one hundred eighty (180) days subsequent to the effective date of such registration in the case of a registration statement on Form S-l (or any similar form of registration statement required to set forth substantially identical
information) and for no longer than one hundred twenty (120) days in the case of a registration statement on Form S-3; provided, however, that (i) such period shall be extended for a period of time equal to the period the Holder refrains
from selling any securities included in such registration at the request of an underwriter of Common Stock (or other securities) of the Company; and (ii) in the case of any registration of Registrable Securities on Form S-3 which are intended
to be offered on a continuous or delayed basis, such period shall be extended, if necessary, to keep the registration statement effective until all such Registrable Securities are sold, provided that Rule 415 permits an offering on a continuous or
delayed basis, and provided further that applicable rules under the Securities Act governing the obligation to file a post-effective amendment permit, in lieu of filing a post-effective amendment that (I) includes any prospectus required by
Section 10(a)(3) of the Securities Act or (II) reflects facts or events representing a material or fundamental change in the information set forth in the registration statement, the incorporation by reference of information required to be
included in (I) and (II) above to be contained in periodic reports filed pursuant to Section 13 or 15(d) of the Exchange Act in the registration statement; 
 (c) Furnish to each prospective seller of Registrable Securities such number of copies of a prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other
documents, as such seller may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities of such seller; 
 (d) Notify each seller of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the Securities Act of the happening of any event
as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements
therein not misleading or incomplete in the light of the circumstances then existing, and at the request of any such seller, prepare and furnish to such seller a reasonable number of copies of a supplement to or an amendment of such prospectus as
may be necessary so that, as thereafter delivered to the purchasers of such shares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading or incomplete in the light of the circumstances then existing; 
 (e) Cause all such Registrable Securities
registered pursuant hereunder to be listed on each securities exchange or approved for quotation on any inter-dealer quotation system on which similar securities issued by the Company are then listed or quoted; 
  

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 (f) Provide a transfer agent and registrar for all Registrable Securities registered pursuant to such
registration statement and a CUSIP number of all such Registrable Securities, in each case not later than the effective date of such registration; 
 (g) Use its best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions as any Holder may reasonably request and do any and all other acts and things which may be
reasonably necessary or advisable to enable any Holder to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Holder; provided, however, that the Company will not be required to qualify generally to do
business, subject itself to general taxation or consent to general service of process in any jurisdiction where it would not otherwise be required to do so but for this paragraph (g); 
 (h) Use its best efforts to cause such Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may
be necessary by virtue of the business and operations of the Company to enable each Holder holding such Registrable Securities to consummate the disposition of such Registrable Securities; 
 (i) Subject to the execution of confidentiality agreements in form and substance satisfactory to the Company, make available upon reasonable notice and
during normal business hours, for inspection by each Holder holding such Registrable Securities, any , underwriter participating in any disposition pursuant to such registration statement and any ‘attorney, accountant or other agent retained by
any Holder or underwriter (collectively, the “Inspectors”), all pertinent financial and other records, pertinent corporate documents and properties of the Company as shall be reasonably necessary to enable them to exercise their due
diligence responsibility, and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such Inspector in connection with such registration statement; 
 (j) Use its best efforts to obtain from its independent certified public accountants “cold comfort” letters in customary form and at customary
times and covering matters of the type customarily covered by cold comfort letters; 
 (k) Use its best efforts to obtain from its counsel an
opinion or opinions in customary form; 
 (1) Issue to any underwriter to which any Holder holding such Registrable Securities may sell
shares in such offering certificates evidencing such Registrable Securities; 
 (m) Otherwise use its best efforts to comply with all
applicable rules and regulations of the Commission, and make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months, but not more than eighteen months, beginning with
the first month after the effective date of the Registration Statement, which earnings statement shall satisfy the provisions of Section 11 (a) of the Securities Act; 
  

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 (n) In connection with any underwritten offering pursuant to a registration statement filed pursuant to
Section 2 hereof, enter into an underwriting agreement reasonably necessary to effect the offer and sale of Common Stock, provided such underwriting agreement contains customary underwriting provisions and provided further that if the
underwriter so requests the underwriting agreement will contain customary contribution provision; and 
 (o) Use its best efforts to take all
other steps necessary to effect the registration of such Registrable Securities contemplated hereby. 
 Section 7.
Indemnification. In the event any of the Registrable Securities are included in a registration statement under this Section: 
 (a) The
Company will indemnify each Holder, each of such Holder’s officers and directors and partners (and each partner’s officers, directors and partners) and such Holder’s separate legal counsel and independent accountants, and each person
controlling such Holder within the meaning of Section 15 of the Securities Act, and each underwriter, if any, and each person who controls any underwriter within the meaning of Section 15 of the Securities Act, against all expenses,
claims, losses, damages or liabilities (or actions in respect thereof), including any of the foregoing incurred in settlement of any litigation, commenced or threatened, arising out of or based on any untrue statement (or alleged untrue statement)
of a material fact contained, on the effective date thereof, in any registration statement, any prospectus contained therein, or any amendment or supplement thereto, or based on any omission (or alleged omission) to state therein a material fact
required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading, or any violation by the Company of any rule or regulation
promulgated under the Securities Act applicable to the Company in connection with any such registration, qualification or compliance, and the Company will reimburse each such Holder, each of its officers, directors and partners (and each
partner’s officers, directors and partners) and such Holders’ separate legal counsel and independent accountants and each person controlling such Holder, each such underwriter each person who controls any such underwriter, for any legal
and any other expenses reasonably incurred in connection with investigating, preparing or defending any such claim, loss, damage, liability or action, provided that the Company will not be liable in any such case to the extent that any such claim,
loss, damage, liability or expense arises out of or is based on any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the Company by an instrument duly
executed by such Holder or underwriter and stated to be specifically for use therein. 
 (b) Each Holder will, if Registrable Securities held
by such Holder are included in the securities as to which such registration, qualification or compliance is being effected, indemnify the Company, each of its directors and officers and its legal counsel and independent accountants, each
underwriter, if any, of the Company’s securities covered by such a 

  

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registration statement, each person who controls the Company or such underwriter within the meaning of Section 15 of the Securities Act, and each other
such Holder, each of its officers and directors and each person controlling such Holder within the meaning of Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or
based on any untrue statement (or alleged untrue statement) of a material fact contained, on the effective date thereof, in any such registration statement, any prospectus contained therein, or any omission (or alleged omission) to state therein a
material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the light of the circumstances under which they were made) not misleading, and will reimburse the Company, such Holders, such
directors, officers, persons, underwriters or control persons for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action, in each case to the extent, but
only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration statement or prospectus in reliance upon and in conformity with written information furnished to the Company
by an instrument duly executed by such Holder and stated to be specifically for use therein; provided, however, that the obligations of any such Holder hereunder shall be limited to an amount equal to the proceeds to each such Holder of Registrable
Securities sold as contemplated herein. 
 (c) Each party entitled to indemnification under this Section (the “Indemnified Party”)
shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying
Party to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose
approval shall not unreasonably be withheld), and the Indemnified Party may participate in such defense at such party’s expense, and provided further that the failure of any Indemnified Party to give notice as provided herein shall not relieve
the Indemnifying Party of its obligations under this Section 7 to the extent such failure is not prejudicial No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party,
consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or
litigation. 
 (d) If the indemnification provided for in this Section 7 is held by a court of competent jurisdiction to be unavailable
to an Indemnified Party with respect to any loss, liability, claim, damage or expense referred to herein, then the Indemnifying Party, in lieu of indemnifying the Indemnified Party, shall contribute to the amount paid or payable by such Indemnified
Party with respect to such loss, liability, claim, damage or expense in the proportion that is appropriate to reflect the relative fault of the Indemnifying Party and the Indemnified Party in connection with the statements or omissions that resulted
in such loss, liability, claim, damage or expense, as well as any other relevant equitable considerations. The relative fault of the Indemnifying Party and the Indemnified Party shall he determined by reference to, among other things, whether the
untrue or alleged untrue statement of material fact or the omission (or alleged omission) to state a material fact relates to information supplied by the Indemnifying Party or by the Indemnified Party, and the parties, relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or omission. 
  

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 Section 8. Information by Holder. The Holder or Holders of Registrable Securities included in
any registration shall furnish to the Company such information regarding such Holder or Holders and the distribution proposed by such Holder or Holders as the Company may request in writing and as shall be required in connection with any
registration, qualification or compliance referred to in this Section. 
 Section 9. Rule 144 Reporting. With a view to making
available the benefits of certain rules and regulations of the Commission which may at any time permit the sale of the Registrable Securities to the public without registration, after such time as a public market exists for the Common Stock of the
Company, the Company shall use its best efforts to: 
 (a) Make and keep public information available, as those terms are understood and
defined in Rule 144 under the Securities Act, beginning 90 days after (i) the Registration Date, or (ii) the Company issues an offering circular meeting the requirements of Regulation A under the Securities Act; 
 (b) File with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Securities
Exchange Act (at any time after it has become subject to such reporting requirements); and 
 (c) Furnish to any Holder promptly upon request
a written statement as to its compliance with the reporting requirements of Rule 144 (at any time after 90 days after the effective date of the first registration statement filed by the Company for an offering of its securities to the general
public), and of the Securities Act and the Securities Exchange Act (at any time after it has become subject to such reporting requirements), a copy of the most recent annual or quarterly report of the Company, and such other reports and documents of
the Company and other information in the possession of or reasonably obtainable by the Company as a Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such securities without
registration. 
 Section 10. Assignment of Registration Rights. The rights to cause the Company to register securities granted
under this Agreement may be assigned to a transferee or assignee in connection with the transfer or assignment of shares of Registrable Securities (i) to a Family Affiliate of the Holder, (ii) to Affiliates of the Holder, (iii) to the
Company, (iv) to Persons to whom the Registrable Securities are transferred by reason of the Holder’s death or involuntarily by operation of law, (v) pursuant to a transfer approved by the Company in its sole and absolute discretion,
or (vi) to Persons to whom the Registrable Securities are transferred in accordance with the transfer restriction provisions, if any, in the limited partnership agreement, regulations, bylaws or other documents or agreements of Holder;
provided, however, that the Company is given written notice thereof. 
  

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 Section 11. Subsequent Purchasers.
Without the affirmative of the Holders of at least 66- 2/3% of the Registrable Securities, the Company shall not grant to any
purchaser of the Company’s securities any demand registration rights, or any piggyback registration rights that, with respect to underwriters cutbacks, would be inconsistent or in conflict with the provisions hereof. Moreover, for so long as
the holders of the Registrable Securities are entitled to exercise the registration rights described herein, they shall receive the benefit of any and all registration rights granted by the Company to any other person who is as of the date of this
Agreement securities holder in the Company (or any affiliate of such existing securities holder) which are more favorable than the registration rights granted to the Investors herein. 
 Section 12. Term. This Agreement and all rights granted to the Investors hereunder shall expire on the seventh anniversary of the date on
which the first registration statement by the Company for an offering of its securities to the general public is declared effective by the Commission. 
 Section 13. Miscellaneous. 
 (a) Notices. Any notice or other communications required or
permitted hereunder shall be deemed to be sufficient if contained in a written instrument delivered in person or by nationally recognized overnight courier or duly sent by First Class certified mail, postage prepaid, or by telecopy addressed to such
party at the address or telecopy number set forth below or such other address or telecopy number as may hereafter be designated in writing by the addressee to the addressor listing all parties: 
  

			
	If to the Company:	    	Macro Holding, Inc.
		    	112 E. Pecan Street, Suite 600
		    	San Antonio, Texas 78205
		    	Telephone: (210) 892-4000
		    	Facsimile: (210) 892-4329
		    	Attn: Morris A. Miller
		
	If to the Investors:	    	Those addresses set forth next to each Investor’s name, as set forth in Exhibit A

 (b) Entire Agreement; Amendments. This Agreement represents the entire agreement of the
parties hereto, and supersedes any other agreements among the parties with respect to the subject matter hereof. The terms and provisions of this Agreement may not be modified or amended, or any of the provisions hereof waived, except pursuant to
the written consent of the Company and holders of a majority of the Registrable Securities. 
 (c) Assignment. This Agreement may not
be assigned by any party without the prior written consent of the other parties, except by a Holder in accordance with Section 10 above. Any assignment which contravenes this Section shall be void ab initio. 
  

 -13- 

 (d) Counterparts. This Agreement may be executed in any number of counterparts, and each such
counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement. 
 (e) Headings: Interpretations. The headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of this Agreement. Whenever the context requires,
references in this Agreement to the singular number shall include the plural and, likewise, the plural number shall include the singular, and words denoting gender shall include the masculine, feminine and neuter. 
 (f) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas without regard to the
principles of conflicts of law thereof. 
 (g) Separability. In case any one or more of the provisions contained in this Agreement or
any application thereof shall be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and other applications thereof shall not in any way be affected or impaired
thereby. 
  

 -14- 

 EXHIBIT A 
 INVESTORS 
 This Agreement applies with respect to the number and type of shares referenced below: 

 

			
	Common Stockholders	  	Shares
		
	First liming Investors, L.P.	  	19,048
	Isom Capital Partners I, L.P.	  	1,219,048
	The Hamilton Companies LLC	  	476,190
	Beaulieu River Capital LC	  	357,143
	MiniPat & Company, Ltd..	  	95,238
	2M Technology Ventures, L.P.	  	119,048
	Red Hat, Inc.	  	353,357
	Norwest Venture Partners VIII, L.P.	  	916,463
	NVP Entrepreneurs Fund VIII, L.P.	  	46,434
	Felda Hardymon	  	8,834
	George Kadifa	  	8,834
	Jerry Parrick	  	8,834
	Robert Powers	  	8,834
	Peggy Taylor	  	8,834
	WS Investments	  	8,834
	Tailwind Capital Partners 2000, L.P.	  	53,004
	Sequoia Capital Franchise Fund, L.P.	  	466,431
	Sequoia Capital Franchise Partners, L.P.	  	63,604
	Trout, Ltd.	  	239,634
	
	Preferred Stockholders
		
	Beaulieu River Capital LC	  	679,348
	Isom Capital Partners II, L.P.	  	212,092
	Isom Capital Partners III, L.P.	  	133,832
	Sequoia Capital Franchise Fund, L.P.	  	119,565
	Sequoia Capital Franchise Partners, L.P.	  	16,304
	Live Oak Ventures, LLC	  	53,696Stockholders' Agreement dated August 21, 2001

 Exhibit 4.4 
 STOCKHOLDERS’ AGREEMENT 
 This Stockholders’ Agreement (the “Agreement”) is made
effective as of the 21st day of August, 2001 (the “Effective Date”), by and among Macro Holding, Inc., a Delaware corporation (the “Company”), and the Stockholders of the Company, namely: Macroweb, L.C., a Texas limited liability
company (“Macroweb”), Trout, Ltd., a Texas limited partnership (“Trout”), Richard Yoo (“Yoo”), Patrick Condon (“Condon”), Dirk Elmendorf (“Elmendorf”), Brian Bell (“Bell”), Edwin Grubbs
(“Grubbs”), Isom Capital Partners I, L.P. (“Isom”), First Inning Investors, L.P. (“First Inning”), The Hamilton Companies LLC, a Colorado limited liability company (“Hamilton”), Beaulieu River Capital LC
(formerly, Weston Investment Interest, L.L.C.), a Nevada limited liability company (“Beaulieu”), MiniPat & Company, Ltd., a Texas limited partnership (“MiniPat”), 2M Technology Ventures, L.P. (“2M”), Norwest
Venture Partners VIII, L.P. (“Norwest”), Red Hat, Inc. (“Red Hat”), Tailwind Capital Partners 2000, L.P. (“Thomas Weisel”), Sequoia Capital Franchise Partners, L.P. (Sequoia Partners”), Sequoia Capital Franchise
Fund, L.P. (“Sequoia Fund”), NVP Entrepreneurs Fund VIII, LP (“NVP”), Felda Hardymon (“Hardymon”), George Kadifa (“Kadifa”), Jerry Parrick (“Parrick”), Robert Powers (“Powers”), Peggy
Taylor (“Taylor”), WS Investments (“WS”), Isom Capital Partners II, L.P. (“Isom II”), Isom Capital Partners III, L.P. (“Isom III”), and Live Oak Ventures, LLC (“Live Oak”) (collectively known herein
as the “Stockholders”). 
 Facts: 
 WHEREAS, the Stockholders were previously limited partners (except Macroweb, which was the general partner and except Bell and Grubbs who were assignees) of Rackspace, Ltd., a Texas limited partnership (the
“Partnership”); and 
 WHEREAS, pursuant to the reorganization of the Partnership (the “Reorganization”) which occurred
on August 21, 2001, all of the Stockholders have transferred their Partnership interests in the Partnership to the Company in exchange for shares of Stock of the Company; and 
 WHEREAS, the Stockholders agreed as part of the Reorganization that all pre-emptive rights, rights of first refusal, share transfer restrictions,
re-purchase rights, voting agreements, parallel exit rights, liquidation preferences (Group E Stockholders, only), and all other rights which existed among the Stockholders and the Partnership prior to the effectiveness of the Reorganization as
contained in the Agreement of Limited Partnership of Rackspace, Ltd., as amended, (other than the rights to remove the General Partner and restrict the actions of the General Partner) and the Amended and Restated Agreement of Existing Partners of
Rackspace, Ltd. to Facilitate Public Offering that do not exist as a consequence of the application of the general corporate provisions of Delaware corporation law (collectively, the “Rights and Obligations”), shall be binding on and inure
to the benefit of the Stockholders and on the Company, the same as such Rights and Obligations were binding on the Partnership and the partners (and assignees) of the Partnership prior to the effectiveness of the Reorganization; and 
 WHEREAS, because this Agreement restates the existing Rights and Obligations between the parties hereto, this Agreement shall be binding upon each
Stockholder without the necessity that such Stockholder execute this Agreement. 
  

 - 1 - 

 WHEREAS, as set forth in the Amended and Restated Agreement of Existing Partners of Rackspace, Ltd., each
of the Stockholders have previously agreed to execute this Agreement so long as it sets forth the Rights and Obligations on substantially the same terms as contained in the Agreement of Limited Partnership of Rackspace, Ltd., as amended, and the
Amended and Restated Agreement of Existing Partners of Rackspace, Ltd. to Facilitate Public Offering prior to the Reorganization; therefore, this Agreement shall be the final and binding statement of the Rights and Obligations as between the parties
hereto. 
 NOW, THEREFORE, for and in consideration of the above premises and the covenants and conditions herein contained, and in order to
provide for the carrying forward of the Rights and Obligations as between the Stockholders of the Company, the parties hereby agree as follows: 
 Article I. 
 Current Stockholders 
 The Stockholders of the Company as of the Effective Date, and the shares owned by each of them are as follows. Further, only for the purposes of this Agreement, Stockholders are designated as members of certain
groups: 
  

			
	Common Stockholders
		
	Group A Stockholders	  	
		
	 Yoo
	  	3,565,714
	 Condon
	  	792,380
	 Elmendorf
	  	396,190
		
	Group B Stockholders	  	
		
	 Trout
	  	7,279,619
		
	Group C Stockholders	  	
		
	 First Inning
	  	619,048
	 Isom
	  	1,219,048
	 Hamilton
	  	476,190
	 Beaulieu
	  	357,143
	 MiniPat
	  	95,238
	 2M
	  	119,048
	 Red Hat
	  	353,357
	 Norwest
	  	916,463
	 NVP
	  	46,434
	 Hardymon
	  	8,834
	 Kadifa
	  	8,834
	 Parrick
	  	8,834
	 Powers
	  	8,834
	 Taylor
	  	8,834

  

 - 2 - 

			
	 WS
	  	8,834
	 Thomas Weisel
	  	53,004
	 Sequoia Fund
	  	466,431
	 Sequoia Partners
	  	63,604
	
	Preferred Stockholders
		
	Group E Stockholders	  	
		
	 Beaulieu
	  	679,348
	 Isom II
	  	212,092
	 Isom III
	  	133,832
	 Sequoia Fund
	  	119,565
	 Sequoia Partners
	  	16,304
	 Live Oak
	  	53,696
		
	Common Stockholders who are not Members of a Group	  	
		
	 Grubbs
	  	49,523
	 Bell
	  	49,523
	 Macroweb
	  	9,904

 Article II. 
 Definitions 
 DEFINITIONS. As used throughout this Agreement, the terms below
have the following meanings: 
 Section 2.1 “Common Stock” means the shares of One-Tenth of One Cent ($0.001) par value common
stock of the Company. 
 Section 2.2 “Company” means Macro Holding, Inc., a Delaware corporation. 
 Section 2.3 “Disposition” means any actual or purported sale, transfer, assignment, exchange, hypothecation, pledge, encumbrance or alienation
of any of the Stock or any right or interest therein, whether voluntarily, involuntarily, or by operation of law, by gift, by will, pursuant to a divorce decree or property settlement agreement, under the laws of descent and distribution or
otherwise, or any change in the Stockholder of record of any such Stock. 
 Section 2.4 “Preferred Stock” means the shares of
One-Tenth of One Cent par value Series A convertible preferred stock of the Company. 
 Section 2.5 “Related Party” means as to any
person, (i) any Affiliate of such person, (ii) any employee, officer, director, shareholder, member, manager or partner of such person, or (iii) any family member. 
  

 - 3 - 

 Section 2.6 “Stock” or “Shares” means the shares of Common Stock or Preferred Stock
of the Company presently outstanding, and any shares of Common or Preferred Stock of the Company issued in the future. 
 Section 2.7
“Stockholder” means the person who now or hereafter owns the Stock which is registered in his, her or its name. 
 Section 2.8
“Spouse” means a person who has a legal interest in the Stock which is registered on the books of the Company in the name of the husband or wife of such person. 
 Article III. 
 Representations 
 Each Stockholder represents that the respective Stock owned by him, her or it is not subject to any pledge or other encumbrance. 
 Article IV. 
 Transfer
Restrictions 
 Section 4.1 Transfers Prohibited Generally. Except as specifically allowed under this Agreement, no
Stockholder may sell, assign, transfer, mortgage, encumber, hypothecate, pledge or otherwise dispose of all or any part of such Stockholder’s Shares, and any attempt to take such action and any purported separate sale, transfer, assignment,
mortgage, encumbrance, hypothecation, pledge, or other disposition by any Stockholder shall be void. In the event of any sale, transfer, assignment or other disposition which is not made in accordance with this Agreement, and without herein
recognizing such as being permitted or valid, the Stockholder making the same shall remain and continue to be liable for the performance of all of its obligations hereunder. All subsequent owners of any Shares shall hold same subject to all the
terms and provisions hereof. 
 Section 4.2 Right of First Refusal. Except transfers of Shares by Sequoia Fund, Sequoia Partners, Red
Hat, Thomas Weisel, Norwest, NVP, Hardymon, Kadifa, Parrick, Powers, Taylor and WS of Shares of Common Stock held by them as of the Effective Date of this Agreement, no Stockholder (including any transferee of a Stockholder) may propose to make any
sale, transfer, pledge, assignment or other disposition of all or any part of their Shares (such interests referred to as the “Shares Offered for Sale”) except for a sale in exchange for cash or a combination of cash and promissory notes.
Prior to making such disposition, the Stockholder desiring to make such sale (the “Selling Stockholder”) shall first offer his, her or its Shares Offered for Sale to each of the other Stockholders (other than Bell, Grubbs, NVP, Hardymon,
Kadifa, Parrick, Powers, Taylor and WS, and any of their transferees, all of whom are collectively referred to as the “Excluded Shareholders”) under the same terms and conditions as the proposed sale (the “Terms of Sale”). Such
offer shall be in writing (the “Offer Notice”) and delivered to the other Stockholders (other than the Excluding Shareholders), along with the name of the proposed purchaser of the Shares Offered for Sale. The Selling Stockholder shall
provide to the other Stockholders (other than the Excluded Shareholder) all information regarding the proposed sale and the proposed purchaser, as may be reasonably requested by the other Stockholders. For a period of 15 Business Days after the date
of the Offer Notice is given, a Stockholder (other than an Excluded Shareholder) may accept the Selling Stockholder’s offer 

  

 - 4 - 

 
with respect to the portion of the Shares Offered for Sale that corresponds to the ratio of the accepting Stockholder’s number of Shares held to the
number of Shares held by the other Stockholders (other than the Selling Stockholder and the Excluded Shareholders) by giving written notice of such acceptance to the Selling Stockholder. Beginning with the expiration of 15 Business Days after the
date the Offer Notice is given and ending on the 20th Business Day after the date the Offer Notice was given, the Company may, in its sole discretion, accept the Selling Stockholder’s offer with respect to all of the remaining portion of the
Shares Offered for Sale by giving written notice of such acceptance to the Selling Stockholder and the other Stockholders. Unless the other Stockholders and the Company (in the aggregate) accept the Selling Stockholder’s offer with respect to
all of the Shares Offered for Sale, the Selling Stockholder’s offer shall be deemed rejected in its entirety. Upon an election to purchase all of such Shares Offered for Sale as provided above, the purchasing Stockholders (and the Company as
the case may be) shall make available to the Selling Stockholder at the offices of the Selling Stockholder, an amount equal to ten (10%) percent of the purchase price of the Shares Offered for Sale as a non-refundable deposit. In addition, to
the extent that the Terms of Sale require a note or notes, the accepting Stockholders shall be required to demonstrate that they have at least the same credit worthiness as the proposed purchaser. Payment for the Shares Offered for Sale shall be
made in accordance with the Terms of Sale. If the Stockholders and the Company do not elect to purchase all the Shares Offered for Sale, the Selling Stockholder shall be free to sell all, but not less than all of such Shares Offered for Sale for a
period of sixty (60) days after the expiration of the option of the other Stockholders, provided that any such sale must be made under the same terms and conditions and to the same purchaser as described in the Terms of Sale and provided
further that the Selling Shareholder must comply with Section 4.5 below prior to making any such sale. The Selling Stockholder shall provide all information relating to the transferee of the Shares Offered for Sale which is reasonably requested
by the Company. 
 Section 4.3 Permitted Transfers. Notwithstanding anything herein to the contrary, any Stockholder shall be
permitted to transfer his, her or its Shares to (i) an immediate family member (a “Family Member”), or a trust established for the benefit of a Family Member (“Trust”), (ii) Affiliates of the Stockholder, or
(iii) to Persons to whom the interest is transferred by reason by the Stockholder’s death or involuntarily by operation of law, or (iv) pursuant to a transfer in accordance with the provisions of Section 4.2 (collectively, a
“Permitted Transfer”). However, no such transferee shall become a Stockholder except in accordance with Section 4.4 of this Agreement. It is expressly agreed that Trout may transfer its Shares to Morris A. Miller, Graham A. Weston or
any of their Family Members or a trust established for the benefit of a Family Member. For the purposes hereof, “Affiliate” means a person (whether an individual or an entity) who directly or indirectly controls, is controlled by, or is
under common control with, the person referred to. For this purpose, “control” means the ability to direct or cause the direction of the management or affairs of a person, whether through the ownership of voting securities, by contract or
otherwise. 
 Section 4.4 Conditions to the Transfer of Shares. Each Stockholder affirms that he/she/it has purchased and now holds
his, her or its Shares for his, her or its own account, solely for investment and not with any intention of distributing, dividing, or reselling the same. In addition to other restrictions on transfer contained in this Agreement, the Shares may be
transferred only if: 
 4.4.1 Such disposition is consistent with such affirmation; 
  

 - 5 - 

 4.4.2 Neither the transferee nor any affiliate or Related Party of the transferee of such disposition
directly or indirectly competes with the Company or any Affiliate of the Company; 
 4.4.3 Except with respect to a Permitted Transfer, such
Stockholder has first offered to sell the Shares in accordance with Section 4.2 above and has complied with Section 4.5 below; and 
 4.4.4 The following conditions to such disposition have been met, unless such conditions have been waived in writing by the Company in its sole discretion which discretion, may be arbitrarily exercised: 
 A. the transferee has delivered an instrument reasonably satisfactory to the Company which accepts and adopts the terms and provisions of
this Agreement, including the assumption of all obligations of the transferor to the Company and an agreement to be subject to all transfer restrictions applicable to his/her or its transferor; 
 B. the transferor has delivered to the Company, in form and substance satisfactory to counsel designated by the Company to the effect that
neither the assignment nor any offering in connection therewith violates any provision of any federal or state securities or comparable law; 
 C. the transferor pays for all expenses incurred by the Company in connection with such disposition. 
 Section 4.5 Parallel Exit. No Stockholder (including any transferee or assignee) or any Family Member or trust established for the benefit of a Family Member which has received Shares from a Stockholder (a “Transferee”),
may sell any of their Shares without first offering to all of the Stockholders (other than Bell and Grubbs), the right to participate in such transfer, on a pro rata basis, on the same terms and conditions as the proposed sale by the Stockholder or
Transferee seeking to transfer Shares. Before making any sale the Stockholder or any Transferee shall provide each of the other Stockholders (other than Bell and Grubbs) with written notice of the date and terms of the proposed sale and each of the
other Stockholders shall each have the right to sell his or her Shares pursuant to such sale in an amount equal to the Shares subject to purchase, multiplied by a fraction, the numerator of which shall be the number of Shares held by such
Stockholder, and the denominator of which is the total number of Shares held by all the Stockholders electing to participate in such sale. Any Stockholder who elects to participate in such sale, shall be required to irrevocably make its election
within four business days of receipt of written notice from the Stockholder or Transferee. Notwithstanding the foregoing, any purchase of less than all of the Shares elected to be sold as provided above, shall be made from all parties participating
in the sale, pro rata, based on the number of Shares to be sold by each. The provisions of this Section 4.5 will not apply to any Permitted Transfer. 
 Section 4.6 Subdivided Shares Prohibited. Without the written consent of the Company, which may be arbitrarily withheld, Stockholders shall not be permitted to sell, transfer, assign, convey, give, donate or
bequeath a fractional part of a Share. 
 Section 4.7 Preemptive Rights. To the extent that the Company proposes to sell additional
Shares or securities exercisable for or convertible into such Shares for cash (but not including any options granted to employees, directors, consultants or others providing services to 

  

 - 6 - 

 
the Company) and no other consideration, the Company shall first offer such Shares to all the Stockholders (other than the Excluded Shareholders) and each
Stockholder (other than the Excluded Shareholders) shall be entitled to purchase an amount of such Shares in proportion to the Stockholder’s percentage ownership of the Company (provided that, for the purpose of calculating the percentage
ownership of the Company owned by Norwest, Norwest shall be treated as if it owned the shares of Common Stock owned by NVP, Hardymon, Kadifa, Parrick, Powers, Taylor and WS). Upon receipt of the offer, to the extent that any of the Stockholders
desire to accept the offer they must, within four business days of receipt of the offer (except as modified by Section 8.1 hereof), (i) notify the Company in writing of acceptance, and (ii) deposit 10% of the purchase price with the
Company. If any Stockholder does not accept the offer described above, the Shares that such Stockholder was offered may be sold to a third party or to an existing Stockholder in the Company’s sole and absolute discretion. 
 Section 4.8 Assignment of Certain Rights. Any Stockholder (other than the Excluded Shareholders who do not have such rights) may assign any right
of first refusal, preemptive right or other right to acquire Shares to any (i) current Stockholder, or an Affiliate of such Person, or an entity controlled by such Persons or their Affiliates, or (ii) another Person upon the prior consent
of the Company (a “Current Affiliate”). To be effective, the Stockholder must provide the Company written notice of such assignment within five (5) Business Days. Upon any such assignment, the Current Affiliate shall be subject to the
rights, obligations, and restrictions provided in this Agreement (as amended) with respect to exercising any such rights. 
 Section 4.9
Termination of Rights upon IPO. Notwithstanding anything herein to the contrary, the Stockholders agree that incident to an initial public offering of the securities of the Company or any successor entity, which raises at least $10,000,000.00
(an “IPO”), the following rights contained in this Agreement shall be terminated: (i) preemptive rights (Section 4.7), (ii) parallel exit rights (Section 4.5), (iii) rights of first refusal (Section 4.2), and (iv) all
other transfer restrictions (other than as required by applicable securities laws). In addition, all obligations under the Support Agreement (as referenced below) shall terminate immediately prior to the IPO. 
 Section 4.10 Support Agreement. Certain of the Stockholders are parties to the Support Agreement, originally dated September 29, 1998, and
subsequently amended on November 30, 1999 and then again on February 22, 2000. Such agreement continues in force until terminated in accordance with the terms of the Support Agreement or as terminated in accordance with Section 4.11
above. The Excluded Shareholders have no rights under the Support Agreement. 
 Article V. 
 Stock Certificates Legend 
 Each
certificate representing the shares of Stock owned by the Stockholders shall bear the following legend: 
 “The shares of stock
represented hereby have not been registered under the Securities Act of 1933, as amended. The shares may not be sold or transferred in the absence of such registration or an opinion of counsel satisfactory to Macro Holding, Inc. that an exemption
from the registration requirements is available. 
  

 - 7 - 

 The shares of stock represented hereby are subject to certain preemptive rights, rights of first refusal,
share transfer restrictions, re-purchase rights, voting agreements, parallel exit rights, and all other rights (except any rights to remove the general partner and/or restrict the actions of the general partner of Rackspace, Ltd.) as set forth in
the Limited Partnership Agreement of Rackspace, Ltd., as amended, and the Amended and Restated Agreement of Existing Partners of Rackspace, Ltd. to Facilitate a Public Offering (collectively “Rights”), to the extent that such Rights inured
to the benefit of the holder hereof as a holder of units of Rackspace, Ltd. immediately prior to the holder’s exchange of such units of Rackspace, Ltd. for the shares of stock represented hereby, except to the extent that such Rights exist as a
consequence of the application of Delaware corporation law, in which case such provisions of Delaware corporation law shall supercede such rights. 
 Ownership, encumbrance, pledge, assignment, transfer or other disposition of this certificate of shares, or any shares issued in lieu thereof, are subject to the restrictions contained in a Stockholders’ Agreement dated effective the
21st day of August, 2001, among Macro Holding, Inc., and the Stockholders of Macro Holding, Inc., a copy of which Agreement is on file in the office of the Secretary of Macro Holding, Inc. Such Stockholders’ Agreement also contains a voting
agreement between the Stockholders of Macro Holding, Inc.” 
 Article VI. 
 Notices 
 All notices required to be given hereunder shall be deemed to
be duly given by personally delivering such notice or by mailing it, via certified mail, return receipt requested, to the Secretary of the Company and to the Stockholders at the address of the Stockholder as such is shown in the Stockholder records
of the Company 
 Article VII. 
 Voting Agreement 
 The parties hereto agree that for so long as this Agreement is in effect: (i) for so long as
the Group C Stockholders (excluding Norwest, Red Hat, Thomas Weisel, Sequoia Partners and Sequoia Fund, NVP, Hardymon, Kadifa, Parrick, Powers, Taylor and WS who do not have a right to designate a director), and excluding Hamilton to the extent that
Hamilton continues to have the right to designate a director under Section (ii) below, hold at least 10% of the issued and outstanding Stock of the Company, such Stockholders shall have the right to designate one director of the Company;
(ii) Hamilton, for so long as Hamilton holds at least 2.5% of the issued and outstanding Stock of the Company (either directly or indirectly through their limited partner interest in Isom I), shall have the right to designate one director of
the Company; and (iii) the Group B Stockholder, for so long as it holds at least 20% of the issued and outstanding Stock of the Company, shall have the right to designate up to five (5) directors of the Company. Provided further, should
the Group B Stockholder elect in writing to waive its right to designate any directors (so that it has no right to designate any director) in connection with a sale of securities of the Company which raises $10,000,000 or more, then the Group C
Stockholders and Hamilton shall also be deemed to waive their designation rights and this voting agreement shall terminate. For so long as this voting agreement is in effect, there shall be not more than seven (7) directors of the Company,
except upon the consent of the Group C Stockholders (meaning Group C Stockholders holding 65% or more of the outstanding Stock 

  

 - 8 - 

 
held by all of the Group C Stockholders but excluding Hamilton to the extent it still possess a designation right, Norwest, Red Hat, Thomas Weisel, Sequoia
Partners, Sequoia Fund, NVP, Hardymon, Kadifa, Parrick, Powers, Taylor and WS), and the approval of and Hamilton (so long as Hamilton has a designation right). The designation of the director by the Group C Stockholders shall be determined by the
Group C Stockholders holding 65% or more of the outstanding Stock held by all of the Group C Stockholders (excluding for the purposes of such calculation Norwest, Red Hat, Thomas Weisel, Sequoia Partners, Sequoia Fund, NVP, Hardymon, Kadifa,
Parrick, Powers, Taylor and WS, who do not have a right to designate a director, and also excluding Hamilton for so long as Hamilton has a right to designate a director, and thereafter upon the approval of Group C Stockholders (including Hamilton)
holding at least 65% of the Stock held by the Group C Stockholders. 
 In order to ensure that the shares of Stock of the Company are voted
in the manner consistent with the foregoing paragraph, each Stockholder hereby irrevocably appoints: (i) the Group B Stockholder, as proxy with full power of substitution, to vote (by written consent or otherwise) any and all shares of the
capital stock of the Company held or owned by or standing in the name of such Stockholder on the Company’s books, as well as any additional shares or other securities issued to such Stockholder which are derivative of the Stock, whether as a
result of any stock-split, reorganization, recapitalization, merger or other business transaction, for the purpose of electing five (5) directors of the Company in a manner consistent with the foregoing paragraph; (ii) Hamilton, as proxy
with full power of substitution, to vote (by unanimous written consent or otherwise) any and all shares of the capital stock of the Company held or owned by or standing in the name of such Stockholder on the Company’s books, as well as any
additional shares or other securities issued to such Stockholder which are derivative of the Stock, whether as a result of any stock-split, reorganization, recapitalization, merger or other business transaction, for the purpose of electing one
(1) director of the Company in a manner consistent with the foregoing paragraph; and (iii) the designee of the Group C Stockholders chosen by the Group C Stockholders holding not less than 65% of the Shares held by all of the Group C
Stockholders (but, excluding Norwest, Red Hat, Thomas Weisel, Sequoia Partners, Sequoia Fund, NVP, Hardymon, Kadifa, Parrick, Powers, Taylor and WS), as proxy with full power of substitution, to vote (by unanimous written consent or otherwise) any
and all shares of the capital stock of the Company held or owned by or standing in the name of such Stockholder on the Company’s books, as well as any additional shares or other securities issued to such Stockholder which are derivative of the
Stock, whether as a result of any stock-split, reorganization, recapitalization, merger or other business transaction, for the purpose of electing two (2) directors of the Company in a manner consistent with the foregoing paragraph. This
irrevocable proxy is coupled with an interest and is binding upon the Stockholders and any transferee of the Stockholders. This proxy shall terminate at such time or times that the rights to designate and elect directors terminate (whether by
express waiver or otherwise) in accordance with the terms of this Article VII. 
 To the extent this proxy and voting agreement terminate,
Norwest shall have an irrevocable proxy to vote the Shares of NVP, Hardymon, Kadifa, Parrick, Powers, Taylor and WS (and any transferee of any of them) at all meetings of the shareholders of the Company. This irrevocable proxy is coupled with an
interest and is binding upon NVP, Hardymon, Kadifa, Parrick, Powers, Taylor and WS and any transferee of them. The term of this proxy shall last for ten (10) years. 
  

 - 9 - 

 Article VIII. 
 Certain Carry-over Provisions  
 Section 8.1 Special Notice Requirements for Group C
Stockholders. Notwithstanding anything in this Agreement to the contrary, the Group C and E Stockholders shall not have less than 15 Business Days to make any election or give any consent, whether in connection with the election to exercise
preemptive rights, parallel exit rights or otherwise. In case of exercise of preemptive rights, the 15 Business Days time period shall commence to run upon the Group C and E Stockholders’ receipt from the Company of a description (containing
all material terms) of the proposed offering giving rise to the preemptive rights. The term “Business Day” as used in this Agreement shall mean Monday through Friday, except any of those days in any week in which the national banks of the
U.S.A. are closed for business. 
 Section 8.2 Definition of “Approval”. For the purposes of this Agreement,
“Approval of the Group A Stockholders” shall mean the approval of Yoo (to the extent he is employed by Rackspace, Ltd.), or, the approval of Elmendorf and Condon (to the extent that both are employed by Rackspace, Ltd.), or, if only one of
Elmendorf, Condon and Yoo are employed by Rackspace, Ltd., the approval of the one who is employed by Rackspace, Ltd. To the extent that none of the foregoing are employed by the Company, the approval of either Yoo, Condon or Elmendorf, so long as
such persons own in aggregate at least 15% of the outstanding Stock of the Company. Otherwise, the Approval of the Group A Stockholders shall be deemed to be obtained regardless of any action or inaction of Yoo, Condon or Elmendorf. For the purposes
hereof, “Approval of the Group B, C and E Stockholders” shall mean the approval of 65% of the aggregate number of Shares held by the shareholders constituting the Group B Stockholders, the Group C Stockholders and the Group E Stockholders.

 Section 8.3 Protection of Company Information/Business Opportunities. All of the Stockholders, and their respective officers,
directors, members, managers and employees (including Miller and Weston) acknowledge and agree that the Company has and will continue to develop proprietary information which is essential for the success of the Company. Such information, includes
but is not limited to marketing plans, strategies, financial data, customer lists, supplier lists, source code, business ideas (collectively, the “Confidential Information”), whether oral or embodied in documents (including writings,
drawings, graphs, charts, photographs, phonorecords, video recordings, and other data compilations from which information can be obtained) or tangible things. The Stockholders agree to keep the Confidential Information secret at all times, and not
to disclose such information to any third party without the consent of the Company. The Stockholders, and their respective officers, directors, members, managers and employees (including Miller and Weston) all agree, and shall be prohibited from
using the Confidential Information for any purpose other than the purpose of the Partnership. 
 All of the Stockholders, so long as they own
any of the capital stock of the Company (whether directly or indirectly) agree to promptly bring to the attention of the Board of Directors of the Company, any business opportunity which becomes known to them which relates to the business of the
Company. The above notwithstanding, the parties agree that Miller and Weston shall have no duty to bring any business opportunity to the Company unless the business opportunity relates to the Company’s core business activity at the time.

  

 - 10 - 

 Article IX. 
 Miscellaneous 
 Section 9.1 Further Assurances. Each party hereto agrees to perform any
further acts and to execute and deliver any further documents which may be reasonably necessary to carry out the provisions of this Agreement. 
 Section 9.2 Severability. In the event that any of the provisions, or portions thereof, of this Agreement, are held to be unenforceable or invalid by any court of competent jurisdiction, the validity and enforceability of the
remaining provisions, or portions thereof, shall not be affected thereby. 
 Section 9.3 Governing Law. This agreement is subject to
Delaware law. 
 Section 9.4 Specific Performance. The parties acknowledge that it is impossible to measure in money the damages which
will accrue to a party hereto by reason of a failure to perform any of the obligations under this Agreement and that otherwise irreparable harm will result as a result of a breach of this Agreement. Therefore, if any party to this Agreement or the
personal representative of a deceased Stockholder shall institute any action or proceeding to enforce the provisions hereof, any person (including the Company) against whom such action or proceeding is brought hereby waives the claim or defense
therein that such party or such personal representative has or have an adequate remedy at law, and such person shall not urge in any such action or proceeding the claim or defense that such remedy at law exists. As such, the parties shall be
entitled to specific performance of the obligations provided for herein. 
 Section 9.5 Entire Agreement. Except as provided in the
Facts section of this Agreement, this Agreement contains the entire agreement between the parties hereto and supersedes any prior or contemporaneous agreement, whether written or oral. 
 Section 9.6 Inurement. Subject to the restrictions against transfer or assignment as herein contained, this Agreement shall be binding upon and
inure to the benefit of the successors, assigns, personal representatives, estates, heirs, and legatees of each of the parties hereto. 
 Section 9.7 Amendment or Termination. This Agreement may be amended or terminated by obtaining the Approval of the Group A Stockholders and the Approval of the Group B, C and E Stockholders. 
 Section 9.8 Representation. The law firm of Matthews and Branscomb, P.C. has prepared this Agreement at the request and on behalf of the
Company, and does not represent the interests of any other party hereto incident to preparing this Agreement. 
 Section 9.9 Multiple
Counterparts; Facsimile. This Agreement may be executed in any number of counterparts, and each such counterpart hereof shall be deemed to be an original instrument, but all such counterparts together shall constitute but one agreement.

 Section 9.10 Arbitration. The parties agree that all disputes, controversies or claims that may arise between them relating to
this Agreement, or between any of them and the Company (or any of its directors, officers or agents) including without limitation, any dispute, controversy or claim as to the interpretation or enforcement of any of the provisions of this Agreement,
shall 

  

 - 11 - 

 
be submitted first to mediation and then to binding arbitration in the city of San Antonio, Texas, in accordance with the rules of the American Arbitration
Association and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction. 
 a.
Mediation. If a controversy or claim arises between the parties then that controversy or claim will be mediated within one month of its identification by the parties. 
 b. Binding Arbitration. In the event the parties cannot resolve their dispute by mediation within one month, the parties agree to bring the
dispute to binding arbitration within one month of the conclusion of the mediation. 
 (SIGNATURE PAGE FOLLOWS) 
  

 - 12 - 

 FIRST AMENDMENT TO 
 STOCKHOLDERS’ AGREEMENT 
 OF 
 MACRO HOLDING, INC. 
 This First Amendment to Stockholders’ Agreement (this
“Amendment”), effective as of May 14, 2004, is entered into by and among Macro Holding, Inc., a Delaware corporation (the “Company”), and the stockholders of the Company identified on the counterpart signature
pages hereto (the “Approving Stockholders”). Capitalized terms not otherwise defined herein have the meaning assigned thereto in the Stockholders’ Agreement (defined below). 
 WHEREAS, the Company and certain of its stockholders are parties to that certain Stockholders’ Agreement dated August 21, 2001 (as may
be amended from time to time, the “Stockholders’ Agreement”); 
 WHEREAS, the parties hereto desire to amend the
Stockholders’ Agreement to permit certain transfers of the Company’s common stock as described herein without compliance with certain transfer restrictions in the Stockholder’s Agreement including the right of first refusal and
parallel exit rights; 
 WHEREAS, Patrick Condon (“Condon”), a Stockholder and a founder of the Company, desires to
transfer up to 14,300 shares of Common Stock to Robert C. Condon (“Condon Parent”), who is Condon’s father and a Family Member of Condon (the “Condon Transfer”); and 
 WHEREAS, pursuant to Section 9.7 (Amendment and Termination) of the Stockholders’ Agreement, the Stockholders’ Agreement may
be amended with “... the Approval of the Group A Stockholders and the Approval of the Group B, C and E Stockholders,” and the Approving Stockholders are the holders of the requisite number of shares of the Company’s Common Stock
and Preferred Stock as necessary to amend the Stockholders’ Agreement; 
 NOW, THEREFORE, in consideration of the premises and
mutual promises made herein, and for other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 
 1. Amendment of Section 4.3 (“Permitted Transfers”). Section 4.3 of the Stockholders’ Agreement is hereby amended by adding the following after the last sentence of such Section:

 “Notwithstanding anything herein to the contrary, each of the following transfers shall be deemed a Permitted Transfer for all
purposes of this Agreement and accordingly such transfers shall not be subject to the provisions of Sections 4.2 (“Right of First Refusal”) or 4.5 (“Parallel Exit”) hereof: 
 (i) Yoo may transfer to Lanham Napier, the president of the Company, and/or an Affiliate of Lanham Napier (such transferee being referred to as
“Napier”) up to an aggregate of 1,000,000 shares of Common Stock in one or more transactions (such shares, the “Napier Shares”), upon such terms as Yoo and Napier may mutually agree (the “Napier
Transfer”); provided that if Lanham Napier for any reason, whether with or without cause and whether with or without notice, ceases to be an employee of the Company, the right to transfer the Napier Shares to 
  

 - 13 - 

 
Napier shall immediately terminate and any subsequent transfer to Napier shall immediately cease to be a Permitted Transfer; provided that any Napier
Transfer completed prior to termination of Lanham Napier’s employment shall remain a Permitted Transfer; and 
 (ii) Yoo may transfer up
to 117,913 shares of Common Stock to Elmendorf, a founder of the Company and a Stockholder, pursuant to that certain Option to Purchase Limited Partnership Interest in Rackspace, Ltd., by and between Yoo and Elmendorf, dated February 2000 (the
“Elmendorf Transfer”). 
 2. Group Membership. That upon the consummation of each of the Napier Transfer, the
Elmendorf Transfer and the Condon Transfer, (i) the list of “Common Stockholders who are not Members of a Group” referenced in Article I of the Stockholders’ Agreement shall be automatically amended, without any further
action on the part of the Company or any of the Stockholders, to include Napier or Robert C. Condon, as the case may be, and (ii) the shares of Common Stock set forth opposite each Stockholders name in Article I shall be modified to
reflect the ownership of Common Stock after giving effect to such transfer. 
 3. Agreement to be Bound. As required under
Section 4.4.4(A) of the Stockholders’ Agreement, the effectiveness of each Napier Transfer and the Condon Transfer shall be subject to (i) the execution by Napier and Condon Parent, respectively, of an agreement to be bound by
the Stockholders’ Agreement (as a Common Stockholder who is not a member of a Group), in a form acceptable to the Company and (ii) if requested by the Company, the spouse of such transferee (or in the case of a transferee that is an
entity, the spouse(s) of the equity owner(s) of such entity and the spouse(s) of the equity owner(s) of any entity that controls such entity) executing such agreement to be bound by the Stockholders’ Agreement evidencing her acknowledgment that
her community property interest, if any, in all shares subject to such Napier Transfer or the Condon Transfer, as applicable, shall be bound by such agreement to be bound and the Stockholders Agreement and containing such other provisions as the
Company may request. 
 4. Pledge of Security; Amendment to Section 4.1 (“Transfers Prohibited Generally”).
Section 4.1 of the Stockholders’ Agreement is hereby amended by adding the following after the last sentence of such Section: 
 “Notwithstanding anything herein to the contrary, Napier (as defined in Section 4.3) may grant a security interest in the Napier Shares to a lender approved by the Company (the “Lender”),
provided the Lender enters into an agreement acceptable to the Company to protect the rights of the Company and the Stockholders under this Agreement, and if such Lender forecloses on such security interest, Napier may transfer the Napier Shares
subject to such security interest at such time to such Lender without complying with the provisions of Section 4.5 (“Parallel Exit”) hereof. 
 5. Waiver of Certain Requirements. The Company may waive the provisions of Sections 4.4.4(B) (relating to an opinion of counsel) and 4.4.4(C) (relating to the payment of the Company’s
expenses in connection with the transfer) of the Stockholders’ Agreement with respect to each Napier Transfer, the Elmendorf Transfer and the Condon Transfer. 
 6. Miscellaneous. This Amendment shall be governed by laws of the State of Delaware, without regard to conflict of law provisions. Except as expressly provided in this Amendment, the 

  

 14 

 
Agreement and all provisions thereof remain intact and in full force and effect. This Amendment may be executed in any number of counterparts, each of which
shall be deemed an original, and all of which shall together constitute one and the same instrument. A facsimile, telecopy or other reproduction of this Amendment may be executed by one or more parties hereto, and an executed copy of this Amendment
may be delivered by one or more parties hereto by facsimile or similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery shall be considered valid, binding and
effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of this Amendment as well as any facsimile, telecopy or other reproduction hereof. 
 [COUNTERPART SIGNATURE PAGES TO FOLLOW] 
  

 15 

 SECOND AMENDMENT TO 
 STOCKHOLDERS’ AGREEMENT 
 OF 
 MACRO HOLDING, INC. 
 This Second Amendment to Stockholders’ Agreement (this
“Amendment”), effective as of July 7, 2004 is entered into by and among Macro Holding, Inc., a Delaware corporation (the “Company”), and the stockholders of the Company identified on the counterpart signature
pages hereto (the “Approving Stockholders”). Capitalized terms not otherwise defined herein have the meaning assigned thereto in the Stockholders’ Agreement (defined below). 
 WHEREAS, the Company and certain of its stockholders are parties to that certain Stockholders’ Agreement dated August 21, 2001, is
amended by a First Amendment to Stockholders Agreement dated effective May 14, 2004 (as amended and as may be amended from time to time, the “Stockholders’ Agreement”); 
 WHEREAS, the parties hereto desire to amend the Stockholders’ Agreement to make the changes set forth in this Amendment; and 
 WHEREAS, pursuant to Section 9.7 (Amendment and Termination) of the Stockholders’ Agreement, the Stockholder’ Agreement may
be amended with “... the Approval of the Group A Stockholders and the Approval of the Group B, C and E Stockholders,” and the Approving Stockholders are the holders of the requisite number of shares of the Company’s Common Stock and
Preferred Stock as necessary to amend the Stockholders’ Agreement; 
 NOW, THEREFORE, in consideration of the premises and mutual
promises made herein, and for other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 
 1. Amendment of Section 4.3 (“Permitted Transfers”). Section 4.3 of the Stockholders’ Agreement is hereby amended by replacing the last sentence which currently reads:

 “Notwithstanding anything herein to the contrary, each of the following transfers shall be deemed a Permitted Transfer for all
purposes of this Agreement and accordingly such transfers shall not be subject to the provisions of Sections 4.2 (“Right of First Refusal”) or 4.5 (“Parallel Exit”) hereof: 
 (i) Yoo may transfer to Lanham Napier, the president of the Company, and/or an Affiliate of Lanham Napier (such transferee being referred to as
“Napier”) up to an aggregate of 1,000,000 shares of Common Stock in one or more transactions (such shares, the “Napier Shares”) upon such terms as Yoo and Napier may mutually agree (the “Napier
Transfer”); provided that if Lanham Napier for any reason, whether with or without cause and whether with or without notice, ceases to be an employee of the Company, the right to transfer the Napier Shares to Napier stall immediately
terminate and any subsequent transfer to Napier shall immediately cease to be a Permitted Transfer; provided that any Napier Transfer completed prior to termination of Lanham Napier’s employment shall remain a Permitted Transfer; and 

  

 16 

 
(ii) Yoo may transfer up to 117,913 shares of Common Stock to Elmendorf, a founder of the Company and a Stockholder, pursuant to that certain Option to
Purchase Limited Partnership Interest in Backspace, Ltd., by and between Yoo and Elmendorf, dated February 2000 (the “Elmendorf Transfer”) 
 with the following: 
 “Notwithstanding anything herein to the contrary, each of the following transfers shall be deemed a
Permitted Transfer for all purposes of this Agreement and accordingly such transfers shall not be subject to the provisions of Sections 4.2 (“Right of First Refusal”) or 4.5 (“Parallel Exit”) hereof: 
 (i) Yoo may transfer to Lanham Napier, the president of the Company, (“Napier”) up to an aggregate of 154,000 shares of Common Stock in
one or more transactions (such shares, the “Napier Shares”), upon such terms as Yoo and Napier may mutually agree (the “Napier Transfer”); provided that if Napier for any reason, whether with or without cause and
whether with or without notice, ceases to be an employee of the Company, the right to transfer the Napier Shares to Napier shall immediately terminate and any subsequent transfer to Napier shall immediately cease to be a Permitted Transfer; provided
that any Napier Transfer completed prior to termination of Napier’s employment shall remain a Permitted Transfer; and 
 (ii) Yoo may
transfer up to 117,913 shares of Common Stock to Elmendorf, a founder of the Company and a Stockholder, pursuant to that certain Option to Purchase Limited Partnership Interest in Rackspace, Ltd., by and between Yoo and Elmendorf, dated February
2000 (the “Etmendorf Transfer”).” 
 2. Pledge of Security; Amendment to Section 4.1 (“Transfers Prohibited
Generally”). Section 4.1 of the Stockholders’ Agreement is hereby amended by deleting the last sentence of such Section which currently reads: 
 “Notwithstanding anything herein to the contrary, Napier (as defined in Section 4.3) may grant a security interest in the Napier
Shares to a lender approved by the Company (the “Lender”) provided the Lender enters into an agreement acceptable to the Company to protect the rights of the Company and the Stockholders under this Agreement, and if such Lender
forecloses on such security interest, Napier may transfer the Napier Shares subject to such security interest at such time to such Lender without complying with the provisions of Section 4.5 (“Parallel Exit”) hereof.”

 3. Miscellaneous. This Amendment shall be governed by laws of the State of Delaware, without regard to conflict of law provisions.
Except as expressly provided in this Amendment, the Agreement and all provisions thereof remain intact and in full force and effect. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of
which shall together constitute one and the same instrument. A facsimile, telecopy or other reproduction of this Amendment may be executed by one or more parties hereto, and an executed copy of this Amendment may be delivered by one or more parties
hereto by facsimile or similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the
request of any party hereto, all parties hereto agree to execute an original of this Amendment as well as any facsimile, telecopy or other reproduction hereof. 
  

 17 

 [COUNTERPART SIGNATURE PAGES TO FOLLOW) 
  

 18 

 THIRD AMENDMENT 
 TO THE STOCKHOLDERS’ AGREEMENT 
 MACRO HOLDING, INC. 
 This Third Amendment to the Stockholders’ Agreement (this “Amendment”) is made effective as of the date when proper approval was received
from the Stockholder in accordance with the Stockholders Agreement, namely October 10, 2006 (the “Effective Date”). All capitalized terms not otherwise defined herein shall have the meaning assigned thereto in the Stockholders’
Agreement (as defined below). 
 WHEREAS, Macro Holding, Inc., a Delaware corporation (the “Company”) and certain of its
stockholders are parties to that Stockholders’ Agreement dated effective as of August 21, 2001, as amended by the First Amendment to the Stockholders’ Agreement dated effective May 14, 2004 and by the Second Amendment to the
Stockholders’ Agreement dated effective July 7, 2004 (as amended and as may be amended from time to time, the “Stockholders’ Agreement”); and 
 WHEREAS, pursuant to Section 9.7 (Amendment and Termination) of the Stockholders’ Agreement, the Stockholders’ Agreement may be amended with “.... the Approval of the Group A Stockholders
and the Approval of the Group B, C and E Stockholders,” and the terms “Approval of the Group A Stockholders” and “Approval of the Group B, C and E Stockholders” are defined in Section 8.2 of the
Stockholders’ Agreement. 
 NOW, THEREFORE, for the mutual considerations herein expressed and subject to the terms and on the
conditions herein stated, the parties hereto agree as follows: 
 1. Amendment to Section 2.7 (Definition of
“Stockholder”). As there are certain stockholders of the Company who are not parties to the Agreement (such as certain employee stockholders who obtained stock through the exercise of stock options), the definition of
“Stockholder” under Section 2.7 of the Agreement is hereby amended and restated in its entirety as follows: 
 “Section 2.7 “Stockholder” means the person who is subject to this Agreement who now or hereafter owns the Stock which is registered in his, her or its name.” 
 2. Amendment to Section 4.2 (“Right of First Refusal”). Section 4.2 of the Stockholders’ Agreement is hereby
amended by inserting the following sentence after the sixth sentence of Section 4.2 (for the sake of clarity, the sixth sentence of Section 4.2 states: “Beginning with the expiration of 15 Business Days after the date
the Offer Notice is given and ending on the 20th Business Day after the date the Offer Notice was given, the Company may, in its sole discretion, accept the Selling Stockholder’s offer with respect to all of the remaining portion of the Shares
Offered for Sale by giving written notice of such acceptance to the Selling Stockholder and the other Stockholders.”): 
 “If the Company elects not to exercise its rights with respect to any of the remaining Shares
Offered for Sale (the “Remaining Shares”) by the 20th Business Day, then, beginning with the expiration of the 20th Business Day after the date the Offer Notice is given and ending on the 25th Business Day after the date the Offer Notice is given, each of the Stockholders who have previously given notice of acceptance to purchase shall be entitled to purchase the Remaining Shares by providing an additional
written notice to the Selling Stockholder, indicating the number of Remaining Shares that such Stockholder (“Purchasing Stockholder”) wishes to subscribe for (the 

  

 - 19 - 

 
“Indicated Number of Shares”). In the event that the aggregate Indicated Number of Shares exceeds the number of Remaining Shares, then the
Purchasing Stockholders shall be entitled to purchase that number of shares that is equal to either (i) the total number of Remaining Shares multiplied by a fraction, the numerator of which equals the total shares of Stock held by such
Purchasing Stockholder and the denominator of which equals the total shares of Stock held by all Purchasing Stockholders, or (ii) such number of Remaining Shares as all of the Purchasing Stockholders may agree amongst themselves.”

 3. Amendment to Section 4.3 (“Permitted Transfers”). Section 4.3 of the Stockholders’ Agreement is
hereby amended by adding the following paragraph after the last sentence of such Section: 
 “Notwithstanding anything herein to the
contrary, a Stockholder shall be permitted to transfer up to 20,000 of his, her or its Shares in the aggregate in any twelve (12) month period to any other Stockholder or to any employee of the Company or its Affiliates and any such transfer(s)
shall be deemed to be a Permitted Transfer for all purposes of this Agreement and accordingly such transfers shall not be subject to the provisions of Sections 4.2 (“Right of First Refusal”) or 4.5 (“Parallel Exit”)
hereof. However, no such transfer of Shares may be made and no transferee shall become a Stockholder except in accordance with Section 4.4 of this Agreement.” 
 4. Notice Periods. Under the Stockholders’ Agreement certain Stockholders have four (4) Business Days and certain Stockholders have fifteen
(15) Business Days to make certain elections or to give certain consents, including those with respect to exercising preemptive rights or parallel exit rights. The Stockholders’ Agreement is hereby amended so that any circumstance where a
Stockholder or group of Stockholders has fifteen (15) Business Days to make an election or give a consent under the Stockholders’ Agreement, then all eligible Stockholders (regardless of any group designation) shall have fifteen
(15) Business Days to make such election or give such consent. 
 5. Miscellaneous. This Amendment shall be governed by laws of the
State of Delaware, without regard to conflict of law provisions. Except as expressly provided in this Amendment, the Stockholders’ Agreement and all provisions thereof remain intact and in full force and effect. This Amendment may be executed
in any number of counterparts, each of which shall be deemed an original, and all of which shall together constitute one and the same instrument. A facsimile, telecopy or other reproduction of this Amendment may be executed by one or more parties
hereto, and an executed copy of this Amendment may be delivered by one or more parties hereto by facsimile or similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and such execution and
delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of this Amendment as well as any facsimile, telecopy or other reproduction hereof.

 (SIGNATURE PAGE FOLLOWS) 
  

 - 20 -

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