Document:

EX-10.15

 Exhibit 10.15 

FORM OF 
 AMENDED AND
RESTATED 
 EARLY EXERCISE INCENTIVE STOCK OPTION AGREEMENT 

UNDER THE SAILPOINT TECHNOLOGIES HOLDINGS, INC. 

AMENDED AND RESTATED 2015 STOCK OPTION PLAN 
  

			
		
	Name of Optionee:	  	Howard Greenfield (the “Optionee”)
	
	No. of Time-Vested Option Shares:     20,000 Shares of Common Stock
	
	No. of Performance-Vested Option Shares:     20,000 Shares of Common Stock
		
	Amendment Date:	  	[•], 2017 (the “Amendment Date”)
		
	Grant Date:	  	April 29, 2016 (the “Grant Date”)
		
	Expiration Date:	  	April 28, 2026 (the “Expiration Date”)
		
	Option Exercise Price/Share:	  	$1.35655 (the “Option Exercise Price”)

 This Amended and Restated Early Exercise Incentive Stock Option Agreement (this “Agreement”) is made
by and between the Optionee and SailPoint Technologies Holdings, Inc., a Delaware corporation (together with all successors thereto, the “Company”), effective as of the Amendment Date and pursuant to the SailPoint Technologies Holdings,
Inc. 2015 Stock Option and Grant Plan, as amended and restated (the “Plan”). This Agreement amends and restates that certain Incentive Stock Option Agreement by and between the Optionee and the Company entered into pursuant to the
SailPoint Technologies Holdings, Inc. 2015 Stock Option and Grant Plan, (the “Original Agreement”) whereby the Company granted to the Optionee, who was an employee of the Company or any of its Subsidiaries as of the Grant Date, an option
(the “Stock Option”) to purchase on or prior to the Expiration Date, or such earlier date as is specified herein, all or any part of the number of shares of Common Stock, par value $0.0001 per share (“Common Stock”), of the
Company indicated above of which (i) 20,000 shares of such Common Stock are referred to herein as “Time-Vested Option Shares” and (ii) 20,000 shares of such Common Stock are referred to herein as “Annual-Vested Option
Shares” (together, the “Option Shares,” and such shares once issued shall be referred to as the “Issued Shares”), at the Option Exercise Price per share, subject to the terms and conditions set forth in this Incentive Stock
Option Agreement (this “Agreement”) and in the Plan. Notwithstanding the vesting provisions hereunder, any Option Shares that were previously designated as “Performance-Vested Option Shares” under the Original Agreement and that
have become vested as of the Amendment Date shall remain vested under this Agreement. This Agreement is being entered into in anticipation of the Company’s initial public offering of common stock. This Agreement shall become effective on the
business day immediately preceding (but conditioned on) the closing of the Parent’s initial public offering of common stock (the “Amendment Effective Date”), and the Original Agreement shall remain in full force and effect until the
Amendment Effective Date. In the event that the closing of the Company’s initial public offering of common stock does not occur for any reason prior to October 1, 2018, this Agreement shall be null and

 
void and the Original Agreement will remain in full force and effect pursuant to its original terms. This Stock Option is intended to qualify as an “incentive stock option” as defined
in Section 422(b) of the Internal Revenue Code of 1986, as amended from time to time (the “Code”). To the extent that any portion of the Stock Option does not so qualify, it shall be deemed a
non-qualified stock option. 
 1. Definitions. For the purposes of this Agreement, the
following terms shall have the following respective meanings. All capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Plan. 

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

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

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

“Committee” shall mean the committee of the Board which may be designated by the Board to administer the Plan. The Committee
shall be composed of two or more directors as appointed from time to time to serve by the Board (or such lesser or greater number of directors as shall constitute the minimum number permitted by applicable laws to establish a committee of the
Board). 

  
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 “Fair Market Value” of each share of the Common Stock means the fair value of
such Common Stock determined in good faith by the Committee, or, in the absence of the Committee, by the Board. 
 “Initial Public
Offering” means the consummation of the first fully underwritten, firm commitment public offering pursuant to an effective registration statement under the Securities Act covering the offer and sale by the Company of its equity securities,
as a result of or following which the capital stock of the Company shall be publicly held. 
 “Investors” means together,
Thoma Bravo Fund XI, L.P., Thoma Bravo Fund XI-A, L.P. and Thoma Bravo Executive Fund XI, L.P. 
 “Person” shall mean any
individual, corporation, partnership (limited or general), limited liability company, limited liability partnership, association, trust, joint venture, unincorporated organization or any similar entity. 

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

“Service Relationship” shall mean any relationship as an employee, part-time employee, director or other key person
(including consultants) of the Company or any Subsidiary or any successor entity such that, for example, a Service Relationship shall be deemed to continue without interruption in the event the Optionee’s status changes from full-time employee
to part-time employee or consultant. 
 “Subsidiary” means any corporation of which the Company owns securities having a
majority of the ordinary voting power in electing the board of directors directly or through one or more subsidiaries. 
  

	 	2.	Vesting, Exercisability and Termination. 

 (a) This Stock Option may be exercised prior
to the Expiration Date, or such earlier date as provided herein and may be exercised prior to vesting. To the extent that the Optionee exercises any portion of this Option prior to vesting, the Optionee shall enter into a Restricted Stock Agreement
(substantially in the form attached hereto as Appendix B, “Restricted Stock Agreement”) and any unvested shares shall be subject to repurchase for the lower of the Option Exercise Price or the then current Fair Market Value in the event
the Optionee’s Service Relationship terminates prior to vesting. 

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

(i) (A) twenty-five percent (25%) of the Time-Vested Option Shares became vested on April 29, 2017 and (B) the
remaining Time-Vested Option Shares have or will become vested in equal installments on a monthly basis over the 36-month period following April 29, 2017. 

(ii) The Annual-Vested Option Shares will become vested as follows: 

(A) twenty-five percent (25%) of the Annual-Vested Option Shares became vested on January 15, 2017 (the “First
Annual Vest Date”); 
 (B) an additional twenty-five percent (25%) of the Annual-Vested Option Shares have or will
become vested on each of the first and second anniversaries of the First Annual Vest Date; and 
 (C) any remaining
Annual-Vested Option Shares will become vested on the third anniversary of the First Annual Vest Date. 
 (c) Notwithstanding anything herein
to the contrary, in the event of a Sale Event, this Stock Option and the Shares shall be treated as provided in Section 8.2 of the Plan. 

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

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

  
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 (e) It is understood and intended that this Stock Option is intended to qualify as an
“incentive stock option” as defined in Section 422 of the Code to the extent permitted under applicable law. Accordingly, the Optionee understands that in order to obtain the benefits of an incentive stock option under
Section 422 of the Code, no sale or other disposition may be made of Issued Shares for which incentive stock option treatment is desired within the one-year period beginning on the day after the day of
the transfer of such Issued Shares to him or her, nor within the two-year period beginning on the day after the grant of this Stock Option and further that this Stock Option must be exercised within three
months after termination of employment as an employee (or 12 months in the case of death or disability) to qualify as an incentive stock option. If the Optionee disposes (whether by sale, gift, transfer or otherwise) of any such Issued Shares within
either of these periods, he or she will notify the Company within 30 days after such disposition. The Optionee also agrees to provide the Company with any information concerning any such dispositions required by the Company for tax purposes.
Further, to the extent Option Shares and any other incentive stock options of the Optionee having an aggregate Fair Market Value in excess of $100,000 (determined as of the Grant Date) vest in any year, such options will not qualify as incentive
stock options. 
 (f) Notwithstanding the vesting provisions of this Section 2, this Agreement shall not result in fewer Option Shares
being vested hereunder on the Amendment Effective Date than the number of Option Shares that were vested under the Original Agreement as of immediately prior to the Amendment Effective Date and Option Shares that have become vested as of the
Amendment Date shall remain vested under this Agreement. 
  

	 	3.	Exercise of Stock Option. 

 (a) The Optionee may exercise this Stock Option only in the
following manner: Prior to the Expiration Date, the Optionee may deliver a Stock Option exercise notice (an “Exercise Notice”) in the form of Appendix A hereto indicating his or her election to purchase some or all of the
Option Shares. Such notice shall specify the number of Option Shares to be purchased. The Optionee shall deliver a Restricted Stock Agreement for any Option Shares the Optionee exercises that are not vested, and such Restricted Stock Agreement shall
include the same vesting schedule for such unvested Option Shares as set forth herein. Payment of the purchase price may be made by one or more of the methods described below, at your election, with the approval of the Company (payment instruments
will be received subject to collection): 
 (i) In cash, by certified or bank check, by wire transfer of immediately
available funds, or other instrument acceptable to the Committee in U.S. funds payable to the order of the Company in an amount equal to the purchase price of such Option Shares; 

(ii) by delivery to the Company of a number of shares of Stock having a Fair Market Value as of the date of exercise equal to
the purchase price of such Option Shares; or 
 (iii) by net issue exercise, pursuant to which the Company will issue to you
a number of shares of Stock equal to the number of Option Shares to be purchased, less a number of shares with a Fair Market Value as of the date of exercise equal to the purchase price of such Option Shares. 

  
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 (b) Certificates for the Option Shares so purchased will be issued and delivered to the Optionee
upon compliance to the satisfaction of the Committee with all requirements under applicable laws or regulations in connection with such issuance. Until the Optionee shall have complied with the requirements hereof and of the Plan, the Company shall
be under no obligation to issue the Option Shares subject to this Stock Option, and the determination of the Committee as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have
any of the rights of a holder with respect to, any shares of Common Stock subject to this Stock Option unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company shall have issued and delivered the Issued
Shares to the Optionee, and the Optionee’s name shall have been entered as a stockholder of record on the books of the Company. Thereupon, the Optionee shall have full dividend and other ownership rights with respect to such Issued Shares,
subject to the terms of this Agreement. 
 (c) Notwithstanding any other provision hereof or of the Plan, no portion of this Stock Option
shall be exercisable after the Expiration Date. 
 4. Incorporation of Plan. Notwithstanding anything herein to the contrary, this
Stock Option shall be subject to and governed by all the terms and conditions of the Plan. 
 5. Transferability of Stock Option. This
Agreement is personal to the Optionee and is not transferable by the Optionee in any manner other than by will or by the laws of descent and distribution. The Stock Option may be exercised during the Optionee’s lifetime only by the Optionee (or
by the Optionee’s guardian or personal representative in the event of the Optionee’s incapacity). The Optionee may elect to designate a beneficiary by providing written notice of the name of such beneficiary to the Company, and may revoke
or change such designation at any time by filing written notice of revocation or change with the Company; such beneficiary may exercise the Optionee’s Stock Option in the event of the Optionee’s death to the extent provided herein. If the
Optionee does not designate a beneficiary, or if the designated beneficiary predeceases the Optionee, the legal representative of the Optionee may exercise this Stock Option to the extent provided herein in the event of the Optionee’s death.

  

	 	6.	Effect of Certain Transactions. 

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

  
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 7. Withholding Taxes. The Optionee shall, not later than the date as of which the exercise
of this Stock Option becomes a taxable event for federal income tax purposes, pay to the Company or make arrangements satisfactory to the Committee for payment of any federal, state and local taxes required by law to be withheld on account of such
taxable event. Subject to approval by the Committee, the Optionee may elect to have up to the maximum rate (with respect to the Optionee) of tax withholding obligation satisfied, in whole or in part, by authorizing the Company to withhold from
shares of Common Stock to be issued or transferred to the Company, a number of shares of Common Stock with an aggregate Fair Market Value that would satisfy up to the maximum withholding amount due. The Optionee acknowledges and agrees that the
Company or any Subsidiary of the Company has the right to deduct from payments of any kind otherwise due to the Optionee, or from the Option Shares to be issued in respect of an exercise of this Stock Option, any federal, state or local taxes of any
kind required by law to be withheld with respect to the issuance of Option Shares to the Optionee. 
 8. Compliance with Securities
Law. Notwithstanding any provision of this Agreement to the contrary, the grant of the Stock Option and the issuance of Stock will be subject to compliance with all applicable requirements of federal, state, and foreign securities laws and with
the requirements of any stock exchange or market system upon which the Stock may then be listed. The Stock Option may not be exercised if the issuance of shares of Stock upon exercise would constitute a violation of any applicable federal, state, or
foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Stock may then be listed. In addition, the Stock Option may not be exercised unless (a) a registration statement under
the Securities Act of 1933, as amended (the “Securities Act”), is at the time of exercise of the Stock Option in effect with respect to the shares issuable upon exercise of the Stock Option or (b) in the opinion of legal counsel to
the Company, the shares issuable upon exercise of the Stock Option may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. YOU ARE CAUTIONED THAT THE STOCK OPTION MAY NOT BE
EXERCISED UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY, YOU MAY NOT BE ABLE TO EXERCISE THE STOCK OPTION WHEN DESIRED EVEN THOUGH THE STOCK OPTION IS VESTED. The inability of the Company to obtain from any regulatory body having
jurisdiction the authority, if any, deemed by the Company’s legal counsel to be necessary to the lawful issuance and sale of any shares subject to the Stock Option will relieve the Company of any liability in respect of the failure to issue or
sell such shares as to which such requisite authority has not been obtained. As a condition to the exercise of the Stock Option, the Company may require you to satisfy any qualifications that may be necessary or appropriate to evidence compliance
with any applicable law or regulation and to make any representation or warranty with respect to such compliance as may be requested by the Company. 

9. Lockup Provision. The Optionee agrees, if requested by the Company and any underwriter engaged by the Company, not to sell or
otherwise transfer or dispose of any securities of the Company (including, without limitation, pursuant to Rule 144 under the Securities Act) held by him or her for (a) 180 days following the effective date of the relevant registration
statement filed under the Securities Act in connection with the Company’s Initial Public Offering, or (b) 90 days following the effective date of the relevant registration statement in connection with any other public offering of capital
stock of the Company, as the Company and such underwriter shall specify reasonably and in good faith. Notwithstanding the foregoing, 

  
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if: (x) during the last 17 days of the foregoing 180-day period or 90-day period, as applicable, the Company issues an earnings release or material news or a material event relating to the
Company occurs; or (y) prior to the expiration of the 180-day period or 90-day period, as applicable, the Company announces that it will release earnings results during the 16-day period beginning on the last day of the period, then the
restrictions described above shall continue to apply until the expiration of an 18-day period beginning on the issuance of the earnings release or the occurrence of the material news or material event. The Optionee agrees, if requested by the
underwriter engaged by the Company, to execute a separate letter reflecting the agreement set forth in this Section 9. 
  

	 	10.	Miscellaneous Provisions. 

 (a) Equitable Relief. The parties hereto agree and
declare that legal remedies may be inadequate to enforce the provisions of this Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement. 

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

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

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

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

  
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 (h) Benefit and Binding Effect. This Agreement shall be binding upon and shall inure to
the benefit of the parties hereto, their respective successors, permitted assigns, and legal representatives. The Company has the right to assign this Agreement, and such assignee shall become entitled to all the rights of the Company hereunder to
the extent of such assignment. 
 (i) Dispute Resolution. Except as provided below, any dispute arising out of or relating to this
Agreement or the breach, termination or validity hereof shall be finally settled by binding arbitration conducted expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the “J.A.M.S.
Rules”). The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. §§1-16, and judgment upon the award rendered by the arbitrators may be entered by any court having
jurisdiction thereof. The place of arbitration shall be Austin, Texas. 
 The parties covenant and agree that the arbitration shall commence
within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party and any
third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not
have the power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration, each party shall provide to the other, no later than seven business days before the date of the arbitration, the
identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and
delivered within six months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of
actual compensatory damages and shall not multiply actual damages or award punitive damages or any other damages that are specifically excluded under this Agreement, and each party hereby irrevocably waives any claim to such damages. 

The parties covenant and agree that they will participate in the arbitration in good faith. This Section 10(i) applies equally to
requests for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and
irreparable harm. 
 Each of the parties hereto (i) hereby irrevocably submits to the jurisdiction of any United States District Court
of competent jurisdiction for the purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim
that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable law), that the suit,
action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding 

  
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is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and hereby waives and agrees not to seek any review by any court of any other jurisdiction
which may be called upon to grant an enforcement of the judgment of any such court. Each of the parties hereto hereby consents to service of process by registered mail at the address to which notices are to be given. Each of the parties hereto
agrees that its, his or her submission to jurisdiction and its, his or her consent to service of process by mail is made for the express benefit of the other parties hereto. Final judgment against any party hereto in any such action, suit or
proceeding may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction. 

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

[SIGNATURE PAGE FOLLOWS] 

  
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 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to
by the undersigned as of the Amendment Date. 
  

			
	SailPoint Technologies Holdings, Inc.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Address:
	
	  

	
	  

	
	  

 The foregoing Agreement is hereby accepted and the terms and conditions thereof hereby agreed to by the
undersigned as of the Amendment Date. 
  

	
	
	OPTIONEE:
	
	  

	Name: Howard Greenfield
	
	Address:
	
	  

	
	  

	
	  

 SPOUSE’S CONSENT 
 I
acknowledge that I have read the 
 foregoing Amended and Restated Incentive Stock Option Agreement 

and understand the contents thereof. 

                          
                                         
 ] 

  
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	DESIGNATED BENEFICIARY:
	
	 Donna Greenfield

	
	Beneficiary’s Address:
	
	  

	
	  

	
	  

  
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 Appendix A 

STOCK OPTION EXERCISE NOTICE 
  

	
	SailPoint Technologies Holdings, Inc.
	
Attention:                 
                                         
                    

	
                   
                                         
                                     

	
                   
                                         
                                     

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

[ ] 1. Cash 
 [ ] 2. Certified or
bank check payable to SailPoint Technologies Holdings, Inc. 
 [ ] 3. Other (as described in the Agreement (please describe)) 

                       
                                         
                                         
                           . 

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

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

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

	
	Sincerely yours,
	
	  
 Name: Howard
Greenfield

	
	Address:
	
	  

	
	  

	
	  

  
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 APPENDIX B 

Restricted Stock Agreement 

 RESTRICTED STOCK AGREEMENT FOR EARLY EXERCISE OPTION 

UNDER THE SAILPOINT TECHNOLOGIES HOLDINGS, INC. 

AMENDED AND RESTATED 2015 STOCK OPTION PLAN 

All capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Amended and Restated Early
Exercise Incentive Stock Option Agreement (the “Option Agreement”) between SailPoint Technologies Holdings, Inc. (the “Company”) and Howard Greenfield (the “Grantee”) for 40,000 Shares of Common Stock with a Grant Date
of April 29, 2016 under the SailPoint Technologies Holdings, Inc. Amended and Restated 2015 Stock Option Plan (the “Plan”). 

The Grantee agrees to the provisions set forth herein and acknowledges that each such provision is a material condition of the Company’s
agreement to issue and sell the Shares to him or her. The Company hereby acknowledges receipt of $[            ] in full payment for the Shares pursuant to the Option Agreement. All
references to share prices and amounts herein shall be equitably adjusted to reflect stock splits, stock dividends, recapitalizations, mergers, reorganizations and similar changes affecting the capital stock of the Company, and any shares of capital
stock of the Company received on or in respect of Shares in connection with any such event (including any shares of capital stock or any right, option or warrant to receive the same or any security convertible into or exchangeable for any such
shares or received upon conversion of any such shares) shall be subject to this Agreement on the same basis and extent at the relevant time as the Shares in respect of which they were issued, and shall be deemed Shares as if and to the same extent
they were issued at the date hereof. 
  

	 	1.	Definitions. 

 “Investors” means together, Thoma Bravo Fund XI, L.P.,
Thoma Bravo Fund XI-A, L.P. and Thoma Bravo Executive Fund XI, L.P. 
 “Person” shall mean any individual, corporation,
partnership (limited or general), limited liability company, limited liability partnership, association, trust, joint venture, unincorporated organization or any similar entity. 

“Restricted Shares” shall initially mean all of the Shares being purchased by the Grantee on the date hereof. As of the dates
listed in the vesting schedule under the Option Agreement, the respective number of Option Shares that vest under the Option Agreement shall become Vested Shares if Grantee remains an employee on each such date. 

“Shares” shall mean the number of shares of Common Stock being purchased by the Grantee on the date hereof and any additional
shares of Common Stock or other securities received in respect of the Shares, as a dividend on, or otherwise on account of, the Shares. 

“Vested Shares” shall mean all Shares which are not Restricted Shares. 

  
 16 

 2. Purchase and Sale. On the date hereof, the Company hereby sells to the Grantee, and the
Grantee hereby purchases from the Company, the number of Shares set forth above for the Per Share Purchase Price. 
  

	 	3.	Repurchase Right. 

 (a) Right of Repurchase. The Company or its assigns shall have
the right (the “Repurchase Right”) upon the occurrence of any of the events specified in Section 3(b) below (the “Repurchase Event”) to repurchase from the Grantee (or any Permitted Transferee) some or all (as determined by
the Company) of the Restricted Shares held by the Grantee (or any Permitted Transferee) at the price per share specified below (the “Repurchase Price”). The Repurchase Right may be exercised by the Company within six months following the
date of such event (the “Repurchase Period”). The Repurchase Right shall be exercised by the Company by giving the Grantee written notice on or before the last day of the Repurchase Period of its intention to exercise the Repurchase Right,
and, together with such notice, tendering to the Grantee an amount equal to the Repurchase Price for the shares being repurchased. The Company may assign the Repurchase Right to one or more Persons. Upon such notification, the Grantee shall promptly
surrender to the Company any certificates representing the Shares being repurchased, together with a duly executed stock power for the transfer of such Shares to the Company or the Company’s assignee or assignees. Upon the Company’s or its
assignee’s receipt of the certificates from the Grantee or any Permitted Transferees (or at such later date as is determined necessary by the Committee to avoid any breach by the Company of any agreement to which it is a party), the Company or
its assignee or assignees shall deliver to him, her or them a check for the Repurchase Price of the Shares being purchased; provided, however, that the Company may pay the Repurchase Price for such shares by offsetting and canceling
any indebtedness then owed by the Grantee to the Company. The Repurchase Right with respect to Restricted Shares shall survive and remain in effect following and notwithstanding any public offering by or merger or other transaction involving the
Company and certificates representing such Restricted Shares shall bear legends to such effect. 
 (b) Company’s Right to Exercise
Repurchase Right. The Company shall have the Repurchase Right in the event that the Grantee’s Service Relationship is terminated for any reason whatsoever, regardless of the circumstances thereof, and including without limitation upon
death, disability, retirement, discharge or resignation for any reason, whether voluntarily or involuntarily. 
 (c) Repurchase Price.
The Repurchase Price for any Issued Shares being repurchased hereunder shall be, subject to adjustment as provided in the Plan the Per Share Purchase Price. 

(d) The closing of the purchase of the Shares pursuant to the Repurchase Right shall take place on the date designated by the Company in the
Repurchase Notice, which date shall be not more than 30 days but not less than five days after the delivery of such notice. The Company will pay for the Shares to be purchased by it pursuant to the Repurchase Right by first offsetting amounts
outstanding under any bona fide debts for money borrowed from the Company or for travel and expense advances owed by the Grantee to the Company; upon full repayment of such bona fide debts, the Company will make payment by (i) a check or wire

  
 17 

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

 

	 	4.	Restrictions on Transfer of Shares. 

 (a) Restrictions on Transfer; Repurchase.
The Restricted Shares are restricted in that they may not be sold, transferred or otherwise alienated or hypothecated until these restrictions are removed or expire as described in Section 1 of this Agreement. The Restricted Shares are also
restricted in the sense that they may be subject to repurchase by the Company as described in Section 3 of this Agreement. 
 (b)
Compliance with Securities Law. Notwithstanding any provision of this Agreement to the contrary, the issuance of Shares (including Restricted Shares) will be subject to compliance with all applicable requirements of federal, state, or foreign
law with respect to such securities and with the requirements of any stock exchange or market system upon which the Shares may then be listed. No Shares will be issued hereunder if such issuance would constitute a violation of any applicable
federal, state, or foreign securities laws or other law or regulations or the requirements of any stock exchange or market system upon which the Shares may then be listed. In addition, Shares will not be issued hereunder unless (a) a
registration statement under the Securities Act of 1933, as amended (the “Securities Act”) is at the time of issuance in effect with respect to the Shares issued or (b) in the opinion of legal counsel to the Company, the Shares issued
may be issued in accordance with the terms of an applicable exemption from the registration requirements of the Securities Act. The inability of the Company to obtain from any regulatory body having jurisdiction the authority, if any, deemed by the
Company’s legal counsel to be necessary to the lawful issuance and sale of any Shares subject to this Agreement will relieve the Company of any liability in respect of the failure to issue such Shares as to which such requisite authority has
not been obtained. As a condition to any issuance hereunder, the Company may require you to satisfy any qualifications that may be necessary or appropriate to evidence compliance with any applicable law or regulation and to make any representation
or warranty with respect to such compliance as may be requested by the Company. From time to time, the Board and appropriate officers of the Company are authorized to take the actions necessary and appropriate to file required documents with
governmental authorities, stock exchanges, and other appropriate Persons to make Shares available for issuance. 

  
 18 

 5. Legend. Any certificate(s) representing the Shares shall carry substantially the
following legend: 
 THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF STOCK REPRESENTED HEREBY ARE SUBJECT TO THE
RESTRICTIONS, TERMS AND CONDITIONS (INCLUDING REPURCHASE AND RESTRICTIONS AGAINST TRANSFERS) CONTAINED IN A CERTAIN RESTRICTED STOCK AGREEMENT DATED                 ,
20        BETWEEN THE COMPANY AND THE HOLDER OF THIS CERTIFICATE (A COPY OF WHICH IS AVAILABLE AT THE OFFICES OF THE COMPANY FOR EXAMINATION). 

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR THE SECURITIES LAWS OF
ANY STATE. THE SHARES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM REGISTRATION. 
  

	 	6.	Escrow Arrangement. 

 (a) Escrow. In order to carry out the provisions of Sections
3 and 4 of this Agreement more effectively, the Company shall hold the Shares in escrow together with separate stock powers executed by the Grantee in blank for transfer as an additional condition to any transfer of Shares, execute a like stock
power as to such Shares. The Company shall not dispose of the Shares except as otherwise provided in this Agreement. In the event of any repurchase by the Company (or any of its assigns), the Company is hereby authorized by the Grantee, as the
Grantee’s attorney-in-fact, to date and complete the stock powers necessary for the transfer of the Shares being purchased and to transfer such Shares in accordance with the terms hereof. At such time as any Shares are no longer subject to the
Company’s repurchase rights and the transfer restrictions, the Company shall, at the written request of the Grantee, deliver to the Grantee a certificate representing such Shares with the balance of the Shares (if any) to be held in escrow
pursuant to this Section 6. 
 (b) Remedy. Without limitation of any other provision of this Agreement or other rights, in the
event that the Grantee or any other person or entity is required to sell the Grantee’s Shares pursuant to the provisions of Sections 3 and 4 of this Agreement and in the further event that he or she refuses or for any reason fails to
deliver to the designated purchaser of such Shares the certificate or certificates evidencing such Shares together with a related stock power, such designated purchaser may deposit the applicable purchase price for such Shares with a bank designated
by the Company, or with the Company’s independent public accounting firm, as agent or trustee, or in escrow, for the Grantee or other person or entity, to be held by such 

  
 19 

 
bank or accounting firm for the benefit of and for delivery to him, her, them or it, and/or, in its discretion, pay such purchase price by offsetting any indebtedness then owed by the Grantee as
provided above. Upon any such deposit and/or offset by the designated purchaser of such amount and upon notice to the person or entity who was required to sell the Shares to be sold pursuant to the provisions of Sections 3 and 4, such Shares
shall at such time be deemed to have been sold, assigned, transferred and conveyed to such purchaser, the holder thereof shall have no further rights thereto (other than the right to withdraw the payment thereof held in escrow, if applicable), and
the Company shall record such transfer in its stock transfer book or in any appropriate manner. 
 7. Withholding Taxes. The Grantee
acknowledges and agrees that the Company or any of its Subsidiaries have the right to deduct from payments of any kind otherwise due to the Grantee, or from the Shares held pursuant to Section 6 hereof, up to the maximum rate (with respect to
the Grantee) of federal, state or local taxes of any kind. In furtherance of the foregoing the Grantee agrees to elect, in accordance with Section 83(b) of the Internal Revenue Code of 1986, as amended, to recognize ordinary income in the year
of acquisition of the Shares, and to pay to the Company all withholding taxes shown as due on his or her Section 83(b) election form, or otherwise ultimately determined to be due with respect to such election, based on the excess, if any, of
the fair market value of such Shares as of the date of the purchase of such Shares by the Grantee over the purchase price for such Shares. The Grantee represents that he has received tax advice from his own personal tax advisor on the consequences
of the purchase of the Shares. The Grantee understands the tax consequences of filing (or not filing) a Section 83(b) election and agrees that any filing of a Section 83(b) election is solely the Grantee’s responsibility. 

8. Assignment. At the discretion of the Board, the Company shall have the right to assign the right to exercise its rights with respect
to the Repurchase Right or pursuant to Section 3 to any Person or Persons, in whole or in part in any particular instance, upon the same terms and conditions applicable to the exercise thereof by the Company, and such assignee or assignees of
the Company shall then take and hold any Shares so acquired subject to such terms as may be specified by the Company in connection with any such assignment. 
  

	 	9.	Miscellaneous Provisions. 

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

  
 20 

 
expiration of any 18-day period beginning on the issuance of the earnings release or the occurrence of the material news or material event. The Grantee agrees, if requested by the underwriter
engaged by the Company, to execute a separate letter reflecting the agreement set forth in this Section 9(a). 
 (b) Record Owner;
Dividends. The Grantee, during the duration of this Agreement, shall be considered the record owner of and shall be entitled to vote the Shares if and to the extent the Shares are entitled to voting rights. The Grantee shall be entitled to
receive all dividends and any other distributions declared on the Shares; provided, however, that the Company is under no duty to declare any such dividends or to make any such distribution. 

(c) Equitable Relief. The parties hereto agree and declare that legal remedies are inadequate to enforce the provisions of this
Agreement and that equitable relief, including specific performance and injunctive relief, may be used to enforce the provisions of this Agreement. 

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

(e) Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of Delaware,
without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

(f) Headings. The headings are intended only for convenience in finding the subject matter and do not constitute part of the text of
this Agreement and shall not be considered in the interpretation of this Agreement. 
 (g) Saving Clause. If any provision(s) of this
Agreement shall be determined to be illegal or unenforceable, such determination shall in no manner affect the legality or enforceability of any other provision hereof. 

(h) Notices. All notices, requests, consents and other communications shall be in writing and be deemed given when delivered personally,
by telex or facsimile transmission or when received if mailed by first class registered or certified mail, postage prepaid. Notices to the Company or the Grantee shall be addressed as set forth underneath their signatures below, or to such other
address or addresses as may have been furnished by such party in writing to the other. Notices to any holder of the Shares other than the Grantee shall be addressed to the address furnished by such holder to the Company. 

(i) Benefit and Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their
respective successors, assigns, and legal representatives. Without limitation of the foregoing, upon any stock-for-stock merger in which the Company is not the surviving entity, shares of the Company’s successor issued in respect of the Shares
shall remain subject to vesting and, if such successor does not have any class of equity securities registered pursuant to Sections 12 or 15 of the Securities Exchange Act of 1934, subject to the Repurchase Right, restrictions on transfer, and the
lock-up provision. The Company has the right to assign this Agreement, and such assignee shall become entitled to all the rights of the Company hereunder to the extent of such assignment. 

  
 21 

 (j) Dispute Resolution. Except as provided below, any dispute arising out of or relating
to this Agreement or the breach, termination or validity hereof shall be finally settled by binding arbitration conducted expeditiously in accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and Procedures (the “J.A.M.S.
Rules”). The arbitration shall be governed by the United States Arbitration Act, 9 U.S.C. §§1-16, and judgment upon the award rendered by the arbitrators may be entered by any court having
jurisdiction thereof. The place of arbitration shall be Austin, Texas. 
 The parties covenant and agree that the arbitration shall commence
within 60 days of the date on which a written demand for arbitration is filed by any party hereto. In connection with the arbitration proceeding, the arbitrator shall have the power to order the production of documents by each party and any
third-party witnesses. In addition, each party may take up to three depositions as of right, and the arbitrator may in his or her discretion allow additional depositions upon good cause shown by the moving party. However, the arbitrator shall not
have the power to order the answering of interrogatories or the response to requests for admission. In connection with any arbitration, each party shall provide to the other, no later than seven business days before the date of the arbitration, the
identity of all persons that may testify at the arbitration and a copy of all documents that may be introduced at the arbitration or considered or used by a party’s witness or expert. The arbitrator’s decision and award shall be made and
delivered within six months of the selection of the arbitrator. The arbitrator’s decision shall set forth a reasoned basis for any award of damages or finding of liability. The arbitrator shall not have power to award damages in excess of
actual compensatory damages and shall not multiply actual damages or award punitive damages or any other damages that are specifically excluded under this Agreement, and each party hereby irrevocably waives any claim to such damages. 

The parties covenant and agree that they will participate in the arbitration in good faith. This Section 9(j) applies equally to requests
for temporary, preliminary or permanent injunctive relief, except that in the case of temporary or preliminary injunctive relief any party may proceed in court without prior arbitration for the limited purpose of avoiding immediate and irreparable
harm. 
 Each of the parties hereto (i) hereby irrevocably submits to the jurisdiction of any United States District Court of competent
jurisdiction for the purpose of enforcing the award or decision in any such proceeding, (ii) hereby waives, and agrees not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that it is not
subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution (except as protected by applicable law), that the suit, action or proceeding
is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court, and hereby waives and agrees not to seek any review by any
court of any other jurisdiction which may be called upon to grant an enforcement of the judgment of any such court. Each of the parties hereto hereby consents to service of process by registered mail at the address to which notices are to be given.
Each of the parties hereto agrees that its, his or her submission to 

  
 22 

 
jurisdiction and its, his or her consent to service of process by mail is made for the express benefit of the other parties hereto. Final judgment against any party hereto in any such action,
suit or proceeding may be enforced in other jurisdictions by suit, action or proceeding on the judgment, or in any other manner provided by or pursuant to the laws of such other jurisdiction. 

(k) Counterparts. For the convenience of the parties and to facilitate execution, this Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. 
 [SIGNATURE PAGE
FOLLOWS] 

  
 23 

 IN WITNESS WHEREOF, the Company and the Grantee have executed this Restricted Stock Agreement as
of the date first above written. 
  

			
	SAILPOINT TECHNOLOGIES HOLDINGS, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Address:
	
	  

	
	  

	
	  

	
	GRANTEE:
	
	  
 Name: Howard
Greenfield

	
	Address:
	
	  

	
	  

	
	  

 SPOUSE’S CONSENT 
 I
acknowledge that I have read the 
 foregoing Restricted Stock Agreement 

and understand the contents thereof. 
  

                          
                                         
  

 Section 83(b) Election 

The undersigned hereby elects pursuant to §83(b) of the Internal Revenue Code of 1986, as amended, to include in gross income as
compensation for services the excess (if any) of the fair market value of the shares described below over the amount paid for those shares. 
  

	1.	The name, taxpayer identification number, address of the undersigned, and the taxable year for which this election is being made are: 

Taxpayer’s Name:                   
                                         
                                         
                                         
                   
 Taxpayer’s Social
Security
Number:                                        
                                         
                                         
            

Address:                      
                                         
                                         
                                         
                                 

Taxable Year: Calendar Year 20__ 
  

	2.	The property which is the subject of this election is                     shares of common stock of SailPoint
Technologies Holdings, Inc., a Delaware corporation. 

  

	3.	The property was transferred to the undersigned on [            ]. 

  

	4.	The property is subject to the following restrictions: 

 The Shares will be subject to
restrictions on transfer and risk of forfeiture upon termination of service relationship and in certain other events. 
  

	5.	The fair market value of the property at time of transfer (determined without regard to any restrictions other than nonlapse restrictions as defined in §1.83-3(h) of the Income Tax Regulations) is
$            per share x             shares = $            .

  

	6.	For the property transferred, the undersigned paid $            per share x
            shares = $            . 

  

	7.	The amount to include in gross income is $            . 

The undersigned taxpayer will file this election with the Internal Revenue Service Office with which the taxpayer files his or her annual income tax return
not later than 30 days after the date of transfer of the property. A copy of the election will also be furnished to the person for whom the services were performed. Additionally, the undersigned will include a copy of the election with his or her
income tax return for the taxable year in which the property is transferred. The undersigned is the person performing services in connection with which the property was transferred. 

 

					
	Dated:                    , 20    	  		  	  
 Taxpayer

  

  
 25EX-10.16

 Exhibit 10.16 

RESTRICTED STOCK AGREEMENT 

THIS RESTRICTED STOCK AGREEMENT (this “Agreement”) is dated as of
[            ], 2014 (the “Effective Date”), by and among SailPoint Technologies Holdings, Inc., a Delaware corporation (the “Parent”), SailPoint
Technologies, Inc., a Delaware corporation (the “Company”), and [            ], an individual (the “Purchaser”). 

Recitals 
 A. The
Parent and Purchaser desire to enter into this agreement pursuant to which Purchaser will purchase, and the Parent will sell, subject to certain vesting and other restrictions as set forth herein,
[            ] shares of the common stock, par value $0.001 per share, of the Parent (the “Common Stock”) at the time of and in conjunction with the Closing. All such
shares of Common Stock hereby are referred to herein as “Restricted Stock.” For clarity, any other shares of Common Stock Purchaser may own shall not be considered “Restricted Stock” for purposes of this Agreement. 

B. In consideration for the sale of such shares, the Parent and the Company desire to continue to subject Purchaser to certain confidentiality
restrictions and to protect the Company against Purchaser’s solicitation of employees of the Company following the termination of his (or her) employment by the Company, all in accordance with the terms of this Agreement. 

C. Certain provisions of this Agreement are intended for the benefit of, and will be enforceable by, by Thoma Bravo Fund XI, L.P.
(“TB”). 
 D. Certain definitions are set forth in Section 9 of this Agreement. 

Agreement 
 In
consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement agree as follows: 

PROVISIONS RELATING TO THE RESTRICTED STOCK 
  

	 	1.	Purchase and Sale of Restricted Stock. 

 (a) On the Effective Date, Purchaser will
purchase, and the Parent will sell, [            ] shares of Common Stock at a price of [$            ] per share, of which
(i) [            ] shares of such Common Stock are referred to herein as “Time-Vested Shares” and
(ii) [            ] shares of such Common Stock are referred to herein as “Performance-Vested Shares.” The Parent will deliver to Purchaser the certificates (if any)
or other evidence representing such Restricted Stock, and Purchaser will deliver to the Parent a cashier’s or certified check or wire transfer of funds in the aggregate amount of
$[            ] at the Closing. 
 (b) The Common Stock acquired by the Purchaser
pursuant to Section 1(a) above is referred to herein as the “Restricted Stock.” 
 (c) Within 30 days after the
Effective Date, Purchaser will make an election with the Internal Revenue Service under Section 83(b) of the Internal Revenue Code and the regulations promulgated thereunder in the form of Annex A attached hereto. 

 (d) In connection with the purchase and sale of the Restricted Stock hereunder, Purchaser
represents, warrants and covenants to the Parent, the Company and TB that: 
 (i) The Restricted Stock to be acquired by
Purchaser pursuant to this Agreement will be acquired for Purchaser’s own account and not with a view to, or intention of, distribution thereof in violation of the Securities Act, or any applicable state securities laws, and the Restricted
Stock will not be disposed of in contravention of the Securities Act or any applicable state securities laws. 
 (ii)
Purchaser is either an accredited investor (as defined in the rules under the Securities Act), an executive officer of the Company or is an employee of the Company, and is sophisticated in financial matters and is able to evaluate the risks and
benefits of the investment in the Restricted Stock. 
 (iii) Purchaser is able to bear the economic risk of his (or her)
investment in the Restricted Stock for an indefinite period of time because the Restricted Stock has not been registered under the Securities Act and, therefore, cannot be sold unless subsequently registered under the Securities Act or an exemption
from such registration is available. 
 (iv) Purchaser has had an opportunity to ask questions and receive answers concerning
the terms and conditions of the offering of Restricted Stock and has had full access to such other information concerning the Parent as he has requested and has had the opportunity to consult with his (or her) own independent counsel regarding his
(or her) investment in Restricted Stock. 
 (v) This Agreement and each of the other agreements contemplated hereby
constitute the legal, valid and binding obligation of Purchaser, enforceable in accordance with their respective terms, and the execution, delivery and performance of this Agreement and such other agreements by Purchaser does not and will not
conflict with, violate or cause a breach of any agreement, contract or instrument to which Purchaser is a party or any statute, rule, judgment, order or decree to which Purchaser is subject. 

(vi) Purchaser is not a party to or bound by any employment agreement or non-compete agreement or non-solicitation agreement,
other than with Parent or any of its Subsidiaries. 
 (vii) Purchaser is a resident of
[            ]. 
 (e) As an inducement to the Parent to issue the Restricted
Stock to Purchaser, and as a condition thereto, Purchaser acknowledges and agrees that neither the issuance of the Restricted Stock to Purchaser nor any provision contained herein shall entitle Purchaser to remain in the employment of the Parent and
its Subsidiaries or affect the right of the Company to terminate Purchaser’s employment at any time for any reason. 
  

	 	2.	Vesting of Certain Restricted Stock. 

 (a) Time-Vested Shares are subject to
vesting as further described in this Section 2 based upon Purchaser’s continued employment with the Company. Performance-Vested Shares are subject to vesting based upon Purchaser’s continued employment with the Company and
certain performance-based vesting criteria as further described in this Section 2. 

  
 2 

 (b) The Time-Vested Shares will become vested in accordance with the following schedule, if as of
each such date Purchaser remains continuously employed by the Company or any of its Subsidiaries: (i) 25% of the Time-Vested Shares will become vested on [            ] and
(ii) the remaining Time-Vested Shares will become vested in equal installments on a monthly basis over the 36-month period following [            ]. 

(c) The Performance-Vested Shares will become vested in accordance with the following schedule effective upon the good faith confirmation by at
least a majority of the members of the Board that EBITDA (as such term is defined in Section 10 below) for such fiscal year equals or exceeds the target EBITDA for such fiscal year (as set forth in the schedule below, the “Target
EBITDA”); provided that Purchaser is and has been continuously employed by the Company or its Subsidiaries through the end of such fiscal year. Upon confirmation by the Board that EBITDA for any given fiscal year does not equal or
exceed the applicable Target EBITDA, then all Performance-Vested Shares for such fiscal year that would have otherwise vested had EBITDA equaled or exceeded the applicable Target EBITDA, shall not be vested (the “Unvested Restricted
Stock”); provided that, if EBITDA for the following fiscal year does equal or exceed the applicable Target EBITDA of such following fiscal year, then such Unvested Restricted Stock for such prior fiscal year shall vest upon
confirmation that the Target EBITDA of such following fiscal year was equalled or exceeded; provided further that, if EBITDA for the following year also does not equal or exceed the applicable Target EBITDA for such following fiscal year,
then the Unvested Restricted Stock of the prior fiscal year shall be subject to repurchase by the Parent at any time at Purchaser’s Original Cost. 
  

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

 The Target EBITDA set forth above may be subsequently amended by resolution or written consent of the Board acting in its
reasonable discretion (and using financial models and assumptions consistent in all material respects with the financial models and assumptions used to develop the Target EBITDA specified above) to reflect any fundamental changes in the
Company’s business, including as a result of any material acquisition or divestiture. 
 (d) In the event both (i) a Sale of the
Company occurs and (ii) Purchaser’s continuous status as a Service Provider is terminated either (A) by the Company or the acquiring entity without Cause or (B) by Purchase for Good Reason, in either case, within the twelve month
period immediately following such Sale of the Company, then 100% of the Unvested Restricted Stock shall become vested as of the termination of Purchaser’s status as a Service Provider; provided, however, that if Purchaser’s continuous
status as a Service Provider ceases prior to any Sale of the Company, then no Unvested Executive Stock shall vest in accordance with this Section 2(d). 

(e) All shares of Restricted Stock which have become vested in accordance with this Section 2 are referred to herein as
“Vested Shares,” and all other shares of Restricted Stock are referred to herein as “Unvested Shares.” 
  

	 	3.	Repurchase Options. 

 (a) In the event Purchaser ceases to be employed by the
Company and its Subsidiaries for any reason (a “Termination”), all of the Restricted Stock (whether any such shares are held by Purchaser or one or more of Purchaser’s Permitted Transferees (as defined in the Stockholders
Agreement) other than the Parent) will be subject to repurchase, in each case by the Parent and TB pursuant to the terms and conditions set forth in this Section 3 (the “Repurchase Option”). 

  
 3 

 (b) In the event of a Termination for any reason other than Cause by the Company, (i) the
purchase price for each Unvested Share will be Purchaser’s Original Cost for such share and (ii) the purchase price for each Vested Share will be the greater of (A) Purchaser’s Original Cost for such share and (B) the Fair
Market Value for such share; provided, however, that if Purchaser’s employment is terminated for Cause by the Company the purchase price for each Vested Share will be the lesser of (A) Purchaser’s Original Cost for such
share and (B) the Fair Market Value of such share. 
 (c) The Board may elect to cause the Parent to purchase all or any portion of any
of the Restricted Stock by delivering written notice (the “Repurchase Notice”) to the Purchaser and his (or her) Permitted Transferees within 90 days after the Termination for any shares of Restricted Stock issued at least 181 days
prior to the Termination (or, in the case of shares of Restricted Stock issued 180 days or less prior to the Termination, on the date that is at least 181 days following the date of the issuance of such shares of Restricted Stock). The Repurchase
Notice will set forth the number of Restricted Stock of each class to be acquired from each holder, the aggregate consideration to be paid for such shares and the time and place for the closing of the transaction. If some shares are held by
Purchaser’s Permitted Transferees, Purchaser shall be permitted to designate which of the shares to be repurchased shall be repurchased from Purchaser and which shall be repurchased from Purchaser’s Permitted Transferees. If Purchaser does
not make such a designation, the number of shares to be repurchased by the Parent shall first be satisfied to the extent possible from the shares of Restricted Stock held by Purchaser at the time of delivery of the Repurchase Notice. If the number
of shares of Restricted Stock then held by Purchaser is less than the total number of shares of Restricted Stock which the Parent has elected to purchase, the Parent shall purchase the remaining shares elected to be purchased from the
Purchaser’s Permitted Transferees, pro rata according to the number of shares of Restricted Stock held by such Permitted Transferee(s) at the time of delivery of such Repurchase Notice (determined as nearly as practicable to the nearest share).
The number of shares of Restricted Stock of each class to be repurchased hereunder will be allocated among Purchaser and his (or her) Permitted Transferees (if any) pro rata according to the number of shares of Restricted Stock to be purchased from
such person. Additionally, the Board may cause the Parent to assign its rights under this Section 3 to one or more of its Affiliates. 

(d) If for any reason the Parent does not elect to purchase all of the Restricted Stock pursuant to the Repurchase Option, TB shall be
entitled to exercise the Repurchase Option for the shares of Restricted Stock the Parent has not elected to purchase (the “Available Shares”). As soon as practicable after the Parent has determined that there will be Available
Shares, but in any event within 90 days after the Termination, the Parent shall give written notice (the “Option Notice”) to TB setting forth the number of Available Shares and the purchase price for the Available Shares. TB may
elect to purchase any or all of the Available Shares by giving written notice to the Parent within 30 days after the Option Notice has been given by the Parent. As soon as practicable, and in any event within ten days, after the expiration of the
one-month period set forth above, the Parent shall notify each holder of Restricted Stock as to the number of shares being purchased from such holder by TB (the “Supplemental Repurchase Notice”). At the time the Parent delivers the
Supplemental Repurchase Notice to the holder(s) of Restricted Stock, the Parent shall also deliver written notice to TB setting forth the number of shares TB is entitled to purchase, the aggregate purchase price and the time and place of the closing
of the transaction. 
 (e) The closing of the purchase of the Restricted Stock pursuant to the Repurchase Option shall take place on the
date designated by the Parent in the Repurchase Notice or, if later, the Supplemental Repurchase Notice, which date shall not be more than 30 days nor less than five days after the delivery of the later of either such notice to be delivered. The
Parent will pay for the Restricted Stock 

  
 4 

 
to be purchased by it pursuant to the Repurchase Option by first offsetting amounts outstanding under any bona fide debts for money borrowed from the Parent or for travel and expense advances
owed by Purchaser to the Parent (or one or more of Purchaser’s Permitted Transferees, other than the Parent or TB); upon full repayment of such bona fide debts, the Parent will make payment by a check or wire transfer of funds in the aggregate
amount of the remaining purchase price for such Restricted Stock. TB will pay for the Restricted Stock to be purchased by it pursuant to the Repurchase Option by delivery of a check or wire transfer of funds in the aggregate amount of the purchase
price for such shares. The Parent and TB will be entitled to receive customary representations and warranties from the sellers regarding such sale and to require all sellers’ signatures be guaranteed. 

(f) Notwithstanding anything to the contrary contained in this Agreement, all repurchases of Restricted Stock by the Parent shall be subject to
applicable restrictions contained in the Delaware General Corporation Law and in the Parent’s and its Subsidiaries’ debt and equity financing agreements. If any such restrictions prohibit the repurchase of Restricted Stock hereunder which
the Parent is otherwise entitled or required to make, the Parent may, notwithstanding anything to the contrary in this Agreement, delay any such repurchases until such time as it is permitted to do so under such restrictions. 

 

	 	4.	Restrictions on Transfer of Restricted Stock. 

 (a) In addition to the repurchase
options set forth in Section 3 above, the Restricted Stock is subject to transfer and other restrictions contained in that certain Stockholders Agreement, dated as of September 8, 2014, by and among Parent and its stockholders (the
“Stockholders Agreement”). On the Effective Date, Purchaser will become a party to the Stockholders Agreement and agree to be bound by the terms and conditions thereof. 

(b) The certificates representing the Restricted Stock will bear a legend in substantially the following form: 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER, CERTAIN REPURCHASE OPTIONS AND
CERTAIN OTHER AGREEMENTS SET FORTH IN A RESTRICTED STOCK AGREEMENT BETWEEN THE COMPANY AND A PURCHASER OF THE COMPANY DATED AS OF [            ], 2014. A COPY OF SUCH AGREEMENT MAY BE
OBTAINED BY THE HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.” 
 (c) Opinion of Counsel. No
holder of Restricted Stock may sell, transfer or dispose of any Restricted Stock (except pursuant to an effective registration statement under the Securities Act) without first delivering to the Company an opinion of counsel (reasonably acceptable
in form and substance to the Company) that neither registration nor qualification under the Securities Act and applicable state securities laws is required in connection with such transfer. 

PROVISIONS RELATING TO CONFIDENTIALITY, NON-SOLICITATION AND TAX-RELATED COVENANTS 

 

	 	5.	Confidential Information and Inventions and Patents. 

 (a) Confidential
Information. Purchaser acknowledges that the Confidential Information obtained by him concerning the business and affairs of the Company and its Affiliates and its and their predecessors during the course of his (or her) performance of services
for, or employment with, any of the foregoing persons (whether or not compensated for such services) are the property of the 

  
 5 

 
Company and its Affiliates, including information concerning acquisition opportunities in or reasonably related to the Company’s business or industry of which Purchaser becomes aware during
such period. Therefore, Purchaser agrees that he will not (and shall cause each of his (or her) Affiliates not to) at any time (whether during or after the Employment Period) disclose to any unauthorized person or, directly or indirectly, use for
his (or her) own account, any of such Confidential Information without the Board’s consent, unless and to the extent that such Confidential Information (i) become generally known to and available for use by the public other than as a
direct or indirect result of Purchaser’s acts or omissions to act or the acts or omissions to act of other senior or junior management employees of the Company or any of its Subsidiaries, or (ii) was rightfully in Purchaser’s
possession free of any obligation of confidence at or subsequent to the time such information was communicated to Purchaser by the Company or its Subsidiaries. Purchaser agrees to deliver to the Company within five (5) days following the
Termination of his (or her) employment with the Company, or at any other time the Company may request in writing (whether during or after the Employment Period), all memoranda, notes, plans, records, reports and other documents, regardless of the
format or media (and copies thereof), relating to the business of the Company and its Affiliates and its and their predecessors (including, without limitation, all acquisition prospects, lists and contact information) which he may then possess or
have under his (or her) control. Notwithstanding the foregoing, a disclosure of any Confidential Information (x) in response to a valid order by a court or other governmental body or (y) as otherwise required by law will not be a breach of
this Agreement. 
 (b) Inventions and Patents. Purchaser acknowledges that all inventions, innovations, improvements, developments,
methods, designs, analyses, drawings, reports and all similar or related information (whether or not patentable) that relate to the Company’s or any of its Subsidiaries’ actual or anticipated business, research and development or existing
or future products or services and that are conceived, developed, made or reduced to practice by Purchaser while employed by the Company and its Subsidiaries or any of its and their predecessors (“Work Product”) belong to the
Company or such Subsidiary and Purchaser hereby assigns, and agrees to assign, all of the Work Product to the Company or such Subsidiary. Any copyrightable work prepared in whole or in part by Purchaser in the course of his (or her) work for any of
the foregoing entities shall be deemed a “work made for hire” under the copyright laws, and the Company or such Subsidiary shall own all rights therein. To the extent that any such copyrightable work is not a “work made for
hire,” Purchaser hereby assigns and agrees to assign to Company or such Subsidiary all right, title and interest, including without limitation, copyright in and to such copyrightable work. Purchaser shall promptly disclose such Work Product and
copyrightable work to the Board and perform all actions reasonably requested by the Board (whether during or after the Employment Period) to establish and confirm the Company’s or its Subsidiary’s ownership (including, without limitation,
assignments, consents, powers of attorney and other instruments). 
  

	 	6.	Restrictive Covenants. 

 (a) Noncompetition. In further consideration of
the opportunity to purchase the Restricted Stock hereunder, Purchaser acknowledges that during the course of his (or her) employment with the Company and its Affiliates (including, without limitation, any predecessors thereof) he has become familiar
with, and during the course of his (or her) employment with the Company and its Subsidiaries he will become familiar with, the Company’s and its Subsidiaries’ trade secrets and with other Confidential Information. Purchaser acknowledges
that his (or her) services shall be of special, unique and extraordinary value to the Company and its Subsidiaries and that the Company’s ability to accomplish its purposes and to successfully pursue its business plan and compete in the
marketplace depend substantially on the skills and expertise of the Purchaser. Therefore, and in further consideration of the opportunity to purchase the Restricted Stock hereunder, Purchaser agrees that, during the Purchaser’s period of
employment with the Company or any of its Subsidiaries and for 12 months thereafter, he shall not directly or indirectly engage or become interested in (whether as an owner, partner, director, officer, employee, consultant, stockholder or otherwise)
any business that provides, offers or is 

  
 6 

 
otherwise directly or indirectly engaged in providing or offering (including through acquiring companies which provide or offer) products or services anywhere in the world that are competitive
with the Business. For purposes of this Agreement, “Business” shall mean the business of providing on-premises and hosted (i.e., SaaS-based) identity and access management solutions to enterprise and government customers, including data
and risk management, compliance and provisioning solutions and services.]. 
 (b) Nonsolicitation. In addition, during the
Purchaser’s period of employment with the Company or any of its Subsidiaries and for 12 months thereafter, Purchaser shall not (and shall cause all of his (or her) Affiliates not to) directly or indirectly through another entity or person
(i) induce or attempt to induce any employee of the Parent or any of its Subsidiaries (including the Company) to leave the employ of the Parent or any of its Subsidiaries (including the Company), or in any way interfere with the relationship
between the Parent or any of its Subsidiaries (including the Company) and any employee thereof, (ii) hire (in any capacity) any person who was an employee of the Parent or any of its Subsidiaries (including the Company) at any time during the
one (1) year period immediately prior to the date on which such hiring would take place (it being conclusively presumed by the parties so as to avoid any disputes under this Section 7(b) that any such hiring within such one (1) year
period is in violation of Section 7(a) above), (iii) for so long as Purchaser has any obligations under Section 7(a) above, call on, solicit or service any customer, supplier, licensee, licensor or other business relation of the
Parent or any of its Subsidiaries (including the Company) in order to induce or attempt to induce such Person to cease doing business with the Parent or any of its Subsidiaries (including the Company), or in any way interfere with the relationship
between any such customer, supplier, licensee or business relation and the Parent or any of its Subsidiaries (including the Company), including making any negative statements or communications about TB, the Parent or any of its Subsidiaries
(including the Company) or (iv) initiate or engage in any discussions regarding an acquisition of, or Purchaser’s employment (whether as an employee, an independent contractor or otherwise) by, any businesses with which the Parent or any
of its Subsidiaries (including the Company) has entertained discussions or has requested and received information relating to the acquisition of such business by the Parent or any of its Subsidiaries (including the Company) prior to the termination
of the Purchaser’s employment with the Company. 
 (c) Enforcement. If, at the time of enforcement of this Section 6, a
court holds that the restrictions stated herein are unreasonable under circumstances then existing, the parties hereto agree that the maximum duration, scope or geographical area reasonable under such circumstances shall be substituted for the
stated duration, scope or area and that the court shall be allowed to revise the restrictions contained herein to cover the maximum duration, scope and area permitted by law. Because Purchaser’s services are unique and because Purchaser has
access to Confidential Information, the parties hereto agree that money damages would not be an adequate remedy for any breach of this Agreement. Therefore, in the event a breach or threatened breach of this Agreement, the Company or its successors
or assigns may, in addition to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce, or prevent any violations of, the
provisions hereof (without posting a bond or other security and without proving damages). 
  

	 	7.	Section 409A. 

 (a) Anything in this Agreement to the contrary
notwithstanding, if at the time of the Purchaser’s separation from service within the meaning of Section 409A of the Code, the Company determines that the Purchaser is a “specified employee” within the meaning of
Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Purchaser becomes entitled to under this Agreement on account of the Purchaser’s separation from service would be considered deferred compensation
subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until
the date that is the earlier of (A) six months and one day after the 

  
 7 

 
Purchaser’s separation from service, or (B) the Purchaser’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a
catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application of this provision, and the balance of the installments shall be payable in accordance with their original schedule. 

(b) All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by
the Purchaser during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable
year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other
taxable year. Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 
 (c) To the
extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Purchaser’s
termination of employment, then such payments or benefits shall be payable only upon the Purchaser’s “separation from service.” The determination of whether and when a separation from service has occurred shall be made in accordance
with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 
 (d) The parties
intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in
such a manner so that all payments hereunder comply with Section 409A of the Code. The parties agree that this Agreement may be amended, as reasonably requested by either party, and as may be necessary to fully comply with Section 409A of
the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party. 

(e) The Company makes no representation or warranty and shall have no liability to the Purchaser or any other person if any provisions of this
Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 

8. Withholding. The Parent or the Company may withhold from any and all amounts payable under this Agreement or otherwise such
federal, state, local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”) as may be required to be withheld pursuant to any applicable law or regulation. Purchaser shall pay to the Parent or the Company or make
arrangements satisfactory to the Parent to pay the amount of all applicable Taxes that the Parent or the Company is required to withhold at any time. If Purchaser shall fail to make such payment, the Parent or the Company shall, to the extent
permitted by law, have the right to deduct from any payment of any kind otherwise due to Purchaser any Taxes of any kind required by law to be withheld with respect to the Restricted Stock. Purchaser acknowledges that it is Purchaser’s sole
responsibility, and not the Parent’s or the Company’s, to file timely and properly the election under Section 83(b) of the Internal Revenue Code and any corresponding provisions of state tax laws. In the event that the Parent or the
Company fails to withhold any Taxes required to be withheld by applicable law or regulation, Purchaser shall indemnify the Parent and its Subsidiaries (including the Company) for any amounts paid by the Parent or the Company with respect to any such
Taxes but only to the extent Purchaser has not already paid such Taxes; provided, however, that Purchaser shall not be required to indemnify the Parent or the Company for any interest, penalties and related expenses thereto. 

  
 8 

 GENERAL PROVISIONS 
  

	 	9.	Definitions. 

 “Affiliate” means, as to any Person,
any other Person, which directly or indirectly controls, or is under common control with, or is controlled by, such Person. As used in this definition, “control” (including, with its correlative meanings, “controlled by” and
“under common control with”) shall mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by
contract or otherwise). 
 “Cause” means a vote of the Board resolving that Purchaser should be dismissed as a
result of (i) Purchaser’s conviction of a felony (ii) Purchaser engaging in any other act of fraud, intentional misrepresentation, moral turpitude, misappropriation or embezzlement, illegality or unlawful harassment which, as
determined by the Board in good faith and in light of all available facts, would: (A) materially adversely affect the business or the reputation of the Company with its current or prospective customers, suppliers, lenders and/or other third
parties with whom the Company does or might do business; or (B) expose the Company to a risk of material civil or criminal legal damages, liabilities or penalties; (iii) the repeated willful failure by Purchaser to follow the reasonable
directives of the Board in connection with the business affairs of the Company, or (iv) any material breach by Purchaser of this Agreement or material violation of the Company’s policies or (v) willful and deliberate non-performance
of duty by Purchaser in connection with the business affairs of the Company, provided, however, in the event of termination based on (iii), (iv) or (v), Purchaser will have a period of thirty (30) days after written notice to Purchaser
from the Company to cure the circumstance, if curable. 
 “Certificate of Incorporation” means the Company’s
Certificate of Incorporation, as amended thereafter from time to time. 
 “Confidential Information” means
all information of a confidential or proprietary nature (whether or not specifically labeled or identified as “confidential”), in any form or medium that relates to the Company or its Subsidiaries or their business relations and their
respective business activities. Confidential Information includes, but is not limited to, the following: (i) internal business information (including information relating to strategic and staffing plans and practices, business, training,
marketing, promotional and sales plans and practices, cost, rate and pricing structures and accounting and business methods); (ii) information concerning third party businesses received by the Company under appropriate confidentiality
restrictions in connection with prospective acquisitions or strategic combinations, (iii) identities and individual requirements of, and specific contractual arrangements with, the Company’s and its Subsidiaries’ joint venture
partners, vendors or customers and other business relations and their confidential information; (iv) trade secrets, know-how, compilations of data and analyses, techniques, systems, formulae, research, records, reports, manuals, documentation,
models, data and data bases relating thereto; (v) inventions, innovations, improvements, developments, methods, designs, analyses, drawings, reports and all similar or related information (whether or not patentable), (vi) intellectual
property rights, and (vii) financial information. 
 “EBITDA” shall mean the earnings before interest, taxes,
depreciation and amortization of Parent and its Subsidiaries, as determined by the Board in good faith. 
 “Fair Market
Value” of each of the Purchaser Shares means the fair value of such shares as mutually determined in good faith by the Board of Directors and Purchaser. In the event the parties cannot agree on a fair market value, the fair market value
shall be determined by a third party independent valuation consultant mutually agreed upon by the parties with the cost of such valuation shared equally by the parties. 

  
 9 

 “Good Reason” shall be defined as in Purchaser’s then-current employment
agreement with the Company or, if no such agreement is in place, it means Purchaser’s resignation within thirty (30) days following the expiration of any Company cure period following the occurrence of one or more of the following, without
Purchaser’s express written consent: (i) a material reduction of Purchaser’s duties, authority or responsibilities; provided, however, that a reduction in duties, authority or responsibilities solely by virtue of the Company being
acquired and made part of a larger entity will not constitute “Good Reason”; (ii) a material reduction in Purchaser’s base salary; or (iii) for purposes of a post-Sale of Company termination only, a material change in the
geographic location of Purchaser’s primary work facility or location. Purchaser will not resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the grounds for “Good
Reason” within ninety (90) days of the initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than thirty (30) days following the date of such notice. 

“Original Cost” means with respect to each share of Common Stock purchased by the Purchaser hereunder, the price per
share of Common Stock as set forth in Section 1(a) hereof (as proportionately adjusted for all subsequent share or stock splits, stock dividends, reorganizations and other recapitalizations). 

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

“Public Sale” means any sale pursuant to a registered public offering under the Securities Act or any sale to the
public pursuant to Rule 144 promulgated under the Securities Act effected through a broker, dealer or market maker. 

“Purchaser Shares” means the shares of Restricted Stock purchased hereunder. Purchaser Shares will continue to be
Purchaser Shares in the hands of any holder other than Purchaser (except for the Company and TB and except for transferees in a Public Sale), and except as otherwise provided herein, each such other holder of Purchaser Shares will succeed to all
rights and obligations attributable to Purchaser as a holder of Purchaser Shares hereunder. Purchaser Shares will also include shares of the Company’s shares issued with respect to Purchaser Shares by way of a share split, distribution or
reorganization or upon conversion of the Company into a corporation, by way of a stock split, stock dividend or other recapitalization. Notwithstanding the foregoing, all Unvested Shares shall remain Unvested Shares, subject to the vesting
provisions of this Agreement, after any Transfer thereof. 
 “Sale of the Company” has the meaning assigned to such
term in the Stockholders Agreement. 
 “Securities Act” means the Securities Act of 1933, as amended from
time to time. 
 “Service Provider” means an employee, consultant, advisor, officer or director of the Company
and/or any parent or subsidiary of the Company. 
 “Subsidiary” means any corporation of which the Company or the
Company owns securities having a majority of the ordinary voting power in electing the board of directors directly or through one or more subsidiaries. 

“Transfer” means to directly or indirectly sell, transfer, assign, pledge or otherwise dispose of or grant any direct
or indirect interest in (whether with or without consideration and whether voluntarily or involuntarily or by operation of law) the applicable property. 

  
 10 

	 	10.	Notices. 

 All notices, demands or other communications to be given or delivered
under or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given (i) when delivered personally to the recipient, (ii) one day after being sent to the recipient by reputable overnight courier
service (charges prepaid), (iii) upon machine-generated acknowledgement of receipt after transmittal by facsimile, (iv) upon a confirmation of receipt by return email from the recipient after being sent by email, or (v) five days
after being mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid. Such notices, demands and other communications shall be sent to the Company, TB and the Purchaser at the address set forth below and
to any other recipient or any subsequent holder of Purchaser Shares subject to this Agreement at such address as indicated by the Company’s records, or at such address or to the attention of such other person as the recipient party has
specified by prior written notice to the sending party. 
 Notices to Purchaser: 

 

                    
                     

                    
                     

                    
                     

                    
                     

Facsimile:
                         

E-mail:
                             

Notices to the Company: 

SailPoint Technologies, Inc. 

11305 Four Points Drive, Building 2, Suite 100 

Austin, Texas 78726 

Attention: President 

Telephone:
                         

Facsimile: (512) 346 2033 

E-mail:
                                 

with copies (which shall not constitute notice) to: 

Goodwin Procter LLP 

Three Embarcadero Center 

24th Floor 

San Francisco, CA 94111-4003 

Attention: J. Hovey Kemp 

        Jared Jensen 

Telephone: (415) 733-6000 

Facsimile: (415) 677-9041 

E-mail: hkemp@goodwinprocter.com 

            jjensen@goodwinprocter.com 

Notices to TB: 

Thoma Bravo, LLC 

600 Montgomery Street 

32nd Floor 

  
 11 

 San Francisco, CA 94111 

Attention: Seth Boro and Chip Virnig 

Telephone: (415) 263-3660 

Facsimile: (415) 392-6480 

E-mail: sboro@thomabravo.com 

            cvirnig@thomabravo.com 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. 

11. Expenses. Each party shall bear its or his (or her) expenses, including legal fees, arising in connection with the
negotiation and execution of this Agreement and the consummation of the transactions contemplated by this Agreement. 
  

	 	12.	General Provisions. 

 (a) Transfers in Violation of Agreement. Any Transfer
or attempted Transfer of any Purchaser Shares in violation of any provision of this Agreement or the Stockholders Agreement shall be void, and the Company shall not record such Transfer on its books or treat any purported transferee of such
Purchaser Shares as the owner of such shares for any purpose. 
 (b) Severability. Whenever possible, each provision of this Agreement
will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had
never been contained herein. 
 (c) Initial Public Sale. Prior to an initial Public Sale, Purchaser shall have the opportunity to
review the terms of this Agreement with the Company and the Company may amend the terms of this Agreement at such time. 
 (d) Complete
Agreement. This Agreement, the Stockholders Agreement, the Certificate of Incorporation and those other documents expressly referred to herein and therein embody the complete agreement and understanding among the parties and supersede and
preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any way. 

(e) Counterparts. This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which
taken together constitute one and the same agreement. Signed counterparts of this Agreement may be delivered by facsimile and by scanned pdf image. 

(f) Successors and Assigns. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be
enforceable by Purchaser, the Company, TB and their respective successors and assigns (including subsequent holders of Purchaser Shares); provided, however, except as otherwise provided herein, the rights and obligations of Purchaser under this
Agreement shall not be assignable except in connection with a Permitted Transfer of Purchaser Shares hereunder. 
 (g) Choice of Law.
All issues and questions concerning the relative rights of the Company and its Stockholders and all other issues and questions concerning the construction, validity and interpretation of this Agreement and the exhibits hereto will be governed by,
and construed in accordance with, the internal laws of the State of Texas, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Texas or any other jurisdiction) that would cause the application of
the laws of any jurisdiction other than the State of Texas. 

  
 12 

 (h) JURISDICTION AND VENUE. THE PARTIES TO THIS AGREEMENT HEREBY SUBMIT TO THE
JURISDICTION OF THE STATE OR FEDERAL COURTS SITTING IN TEXAS AND HEREBY AGREE THAT THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO, AND ANY CLAIMS OR DISPUTES RELATING THERETO, SHALL BE ENFORCEABLE EXCLUSIVELY IN SUCH COURTS.
EACH PARTY AGREES THAT ALL CLAIMS IN RESPECT OF THE ACTION OR PROCEEDING MAY BE HEARD IN SUCH COURT. EACH PARTY ALSO AGREES NOT TO BRING ANY ACTION OR PROCEEDING ARISING OR OUT OF OR RELATING TO THIS AGREEMENT IN ANY OTHER COURT. EACH OF THE PARTIES
WAIVES ANY DEFENSE OF INCONVENIENT FORUM TO THE MAINTENANCE OF ANY ACTION OR PROCEEDING SO BROUGHT AND WAIVES ANY BOND SURETY OR OTHER SECURITY THAT MIGHT BE REQUIRED OF ANY OTHER PARTY WITH RESPECT THERETO. 

(i) WAIVER OF JURY TRIAL. THE PARTIES HEREBY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM,
WHETHER IN CONTRACT OR TORT, AT LAW OR IN EQUITY, ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

(j) Remedies. Each of the parties to this Agreement (including TB) will be entitled to enforce its rights under this Agreement
specifically, to recover damages and costs (including attorney’s fees) caused by any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The parties hereto agree and acknowledge that money damages
may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific
performance and/or other injunctive relief in order to enforce or prevent any violations of the provisions of this Agreement. 
 (k)
Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of the Company, TB and Purchaser. 

(l) Business Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or
holiday in the state in which the Company’s chief executive office is located, the time period shall be automatically extended to the business day immediately following such Saturday, Sunday or holiday. 

(m) Termination. Except as otherwise provided herein, this Agreement shall survive the Termination of Purchaser’s employment with
the Company and shall remain in full force and effect after such Termination. 
 (n) No Strict Construction. The parties hereto have
participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or
burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 
 (o)
Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. The use of the word “including” in this Agreement shall be by way of
example rather than by limitation. 

  
 13 

 (p) Intended Third-Party Beneficiary. TB is intended to be a third-party beneficiary of
this Agreement, and no rights of TB hereunder may be waived or modified without its prior written consent. TB may enforce any provisions of this Agreement on behalf of the Company, including, without limitation, the provisions of Sections 5
and 6 hereof. Notwithstanding the foregoing, the rights of TB with respect to this Agreement shall terminate and be of no further force and effect upon termination of the Stockholders Agreement. 

* * * * * * * 
 [This Space Left
Intentionally Blank] 

  
 14 

 IN WITNESS WHEREOF, the parties hereto have executed this Senior Management and Restricted Stock
Agreement as of the date first written above. 
  

			
	PARENT:
	SAILPOINT TECHNOLOGIES HOLDINGS, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	COMPANY:
	SAILPOINT TECHNOLOGIES, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	PURCHASER:
	
	  
 Name:

 [Signature Page to Restricted Stock Agreement] 

			
	AGREED AND ACCEPTED:
	
	THOMA BRAVO FUND XI, L.P.
		
	By:	 	Thoma Bravo Partners XI, L.P.
	Its:	 	General Partner
		
	By:	 	Thoma Bravo, LLC
	Its:	 	General Partner
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	THOMA BRAVO FUND XI-A, L.P.
		
	By:	 	Thoma Bravo Partners XI, L.P.
	Its:	 	General Partner
		
	By:	 	Thoma Bravo, LLC
	Its:	 	General Partner
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	THOMA BRAVO EXECUTIVE FUND XI, L.P.
		
	By:	 	Thoma Bravo Partners XI, L.P.
	Its:	 	General Partner
		
	By:	 	Thoma Bravo, LLC
	Its:	 	General Partner
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 [Signature Page to Restricted Stock Agreement] 

 ANNEX A 

                ,
201         
 ELECTION TO INCLUDE STOCK IN GROSS INCOME 

PURSUANT TO SECTION 83(b) OF THE INTERNAL REVENUE CODE 

On             , 201    , the undersigned acquired shares of
Common Stock, par value $0.001 per share, (the “Common Stock”) of [PARENT], a Delaware corporation (the “Company”), for $            . Under certain
circumstances, the Company has the right to repurchase the Common Stock from the undersigned (or from the holder of the Common Stock, if different from the undersigned) should the undersigned cease to be employed by the Company and its subsidiaries.
The Common Stock is subject to a substantial risk of forfeiture and is non-transferable. 
 The undersigned desires to make an election to
have the receipt of the Common Stock taxed under the provisions of Section 83(b) of the Internal Revenue Code at the time the undersigned acquired the Common Stock. 

Therefore, pursuant to Internal Revenue Code §83(b) and Treasury Regulation §1.83-2 promulgated thereunder, the undersigned hereby
makes an election, with respect to the Common Stock, to report as taxable income for the calendar year 201     the excess (if any) of the value of the Common Stock on
            , 201     over the purchase price thereof. 

The following information is supplied in accordance with Treasury Regulation § 1.83-2(e): 

 

	1.	The name, address and social security number of the undersigned: 

  

	
	 [NAME]

	
                   
             

	
                   
             

	
SSN:                  
      

  

	2.	A description of the property with respect to which the election is being made:             shares of the Company’s Common Stock. 

 

	3.	The date on which the Common Stock was transferred:             , 201    . The taxable year for which such election is made: 201_.

  

	4.	The Common Stock may be repurchased by the Company or its assignee upon the occurrence of certain events. This repurchase right lapses (i) monthly over [        ] months,
following a [        ] month cliff period, with regard to half of the Common Stock and (ii) upon the achievement of certain Company performance milestones with regard to the other half of the Common
Stock, in each case based on the continued performance of services by the taxpayer to the Company during that period. 

  

	5.	The fair market value on             , 201            of the property with respect to which the
election is being made, determined without regard to any lapse restrictions: $            . 

  

	6.	The amount paid or to be paid for such property: $            . 

  
 A-1 

 A copy of this election has been furnished to the Secretary of the Company pursuant to Treasury
Regulations §1.83-2(d). 
 Dated:                 ,
201     
  

	
	  
 [NAME]

  
 A-2

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