Document:

Registration Rights Agreement

 Exhibit 4.4 
 EXECUTION COPY 
  
  
 REGISTRATION RIGHTS AGREEMENT 
 among 
 SolarWinds.Net, Inc., 
 and 
 Certain Stockholders of SolarWinds.Net,
Inc. 
 Dated as of December 13, 2005 
  
  

 TABLE OF CONTENTS 
  

							
	 	  	 	    	 	  	Page
	1.	  	Effectiveness; Definitions	  	1
				
		  	1.1	    	Closing	  	1
		  	1.2	    	Definitions	  	1
			
	2.	  	Registration Rights	  	1
				
		  	2.1	    	Demand Registration Rights for Investor Registrable Securities	  	2
		  	2.2	    	Piggyback Registration Rights	  	4
		  	2.3	    	Certain Other Provisions	  	6
		  	2.4	    	Indemnification and Contribution	  	11
		  	2.5	    	Permitted Registration Rights Assignees	  	14
			
	3.	  	Remedies	  	14
				
		  	3.1	    	Generally	  	14
			
	4.	  	Permitted Transferees	  	14
				
		  	4.1	    	Transfers by Investors	  	14
			
	5.	  	Amendment, Termination, Etc	  	15
				
		  	5.1	    	Oral Modifications	  	15
		  	5.2	    	Written Modifications	  	15
		  	5.3	    	Effect of Termination	  	15
			
	6.        	  	Definitions	  	15
				
		  	6.1	    	Certain Matters of Construction	  	15
		  	6.2	    	Definitions	  	15
			
	7.	  	Miscellaneous	  	21
				
		  	7.1	    	Authority; Effect	  	21
		  	7.2	    	Notices	  	22
		  	7.3	    	Binding Effect, Etc	  	24
		  	7.4	    	Descriptive Heading	  	24
		  	7.5	    	Counterparts	  	24
		  	7.6	    	Severability	  	24
		  	7.7	    	No Recourse	  	24
		  	7.8	    	Aggregation of Shares	  	24
			
	8.	  	Governing Law	  	25
				
		  	8.1	    	Governing Law	  	25
		  	8.2	    	Consent to Jurisdiction	  	25
		  	8.3	    	WAIVER OF JURY TRIAL	  	25
		  	8.4	    	Exercise of Rights and Remedies	  	26

  

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 REGISTRATION RIGHTS AGREEMENT 
 This Registration Rights Agreement (the “Agreement”) is made as of December 13, 2005 by and among SolarWinds.Net, Inc., an Oklahoma
corporation (together with its successors and assigns, the “Company”), each Person executing this Agreement and listed as an Investor on the signature pages hereto (collectively with their Permitted Transferees, the
“Investors”), and such other Persons, if any, that from time to time become party hereto as holders of Other Holder Shares (as defined below) pursuant to Section 2.5 solely in the capacity of permitted assignees with respect to
certain registration rights hereunder (collectively, the “Other Holders”). 
 RECITALS 
 1. Pursuant to Stock Purchase Agreement, dated as of December 13, 2005, as amended (the “Acquisition Agreement”), by and among the
Company, the Bain Investors (as defined below), the Insight Investors (as defined below), the GoldenTree Entities (as defined below), Robert Martin and SolarWinds Management, LLC, a Nevada limited liability company, Yonce Management, LLC, a Nevada
limited liability company, Donald C. Yonce and David A. Yonce (each, a “Founder,” and collectively, the “Founders”), the Investors have acquired Stock of the Company. 
 2. Upon the Closing (as defined below), the Common Stock (as defined below) and the Preferred Stock (as defined below) of the Company and all Options (as
defined below) will be held as set forth on Schedule I hereto. 
 3. In connection with the purchase of such securities, the Company,
the Investors and certain other Stockholders of the Company have entered into a stockholders agreement dated as of the date hereof (the “Stockholders Agreement”). 
 4. The parties believe that it is in the best interests of the Company and the Stockholders to set forth their agreements regarding registration rights.

 AGREEMENT 
 Therefore, the parties hereto hereby agree as follows: 
 1. Effectiveness; Definitions. 
 1.1 Closing. This Agreement shall become effective upon the initial purchase of Stock by the Investors in connection with the consummation of the
closing under the Acquisition Agreement (the “Closing”). 
 1.2 Definitions. Certain terms are used in this Agreement
as specifically defined herein. These definitions are set forth or referred to in Section 6 hereof. 
 2. Registration Rights.
The Company will perform and comply, and cause each of its subsidiaries to perform and comply, with such of the following provisions as are applicable to it. Each Holder will perform and comply with such of the following provisions as are applicable
to such Holder. 

 2.1 Demand Registration Rights for Investor Registrable Securities. 
 2.1.1 General. One or more Investors or direct or indirect Permitted Registration Rights Assignees of Investors other than any Financial Investor
or direct or indirect Permitted Registration Rights Assignees thereof (the “Initiating Investors”), by notice to the Company specifying the intended method or methods of disposition, may request that the Company effect the
registration under the Securities Act for a Public Offering or all or a specified part of the Registrable Securities held by such Initiating Investors; provided, however, that the value of Registrable Securities that the Initiating
Investors propose to sell in such Public Offering is at least fifty million dollars ($50,000,000.00) or such lower amount as agreed by the Holders of a majority of the Registrable Securities; and provided, further, that the Initial
Public Offering may not be initiated pursuant to this Section 2.1 without the approval of the Holders of a majority of the Registrable Securities. The Company will then use its best efforts to (i) effect the registration under the
Securities Act (including by means of a shelf registration pursuant to Rule 415 under the Securities Act if so requested by a majority of the Investors that then hold a number of shares of Common Stock equal to at least $50 million of aggregate
Purchase Price Value (in respect of shares originally issued as Common Stock, Preferred Stock or otherwise) and if the Company is then eligible to use such registration) of the Registrable Securities which the Company has been requested to register
by such Initiating Investors together with all other Registrable Securities which the Company has been requested to register pursuant to Section 2.2 by other Holders, all to the extent required to permit the disposition (in accordance with the
intended methods thereof as aforesaid and as otherwise specified by the Principal Participating Holders) of the Registrable Securities which the Company has been so requested to register, and (ii) if requested by the Principal Participating
Holders, obtain acceleration of the effective date of the registration statement relating to such registration; provided, however, that the Company shall not be obligated to take any action to effect any such registration pursuant to
this Section 2.1.1: 
 (a) during the effectiveness of any Principal Lock-Up Agreement entered into in connection with any registration
statement pertaining to an underwritten public offering of securities of the Company for its own account (other than a Rule 145 Transaction, or a registration relating solely to employee benefit plans); 
 (b) upon the request of Initiating Investors that are or were members of an Investor Group on any form other than Form S-3 (or any successor form) if
the Company has previously effected a number of registrations of Registrable Securities under this Section 2.1.1 upon the request of Initiating Investors that are or were members of such Investor Group on any form other than Form S-3 (or any
successor form) equaling or exceeding three (3) with respect to such Investor Group; provided, however, that any registration of Registrable Securities (i) which does not become and remain effective for at least 270 days in
accordance with the provisions of this Section 2 or (ii) pursuant to which the Initiating Investors and all other holders of Registrable Securities joining therein are not able to include at least 90% of the Registrable Securities which
they desired to include, shall not be included in the calculation of the numbers of registrations contemplated by this clause (ii); or 
  

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 (c) if a registration statement requested under this Section 2.1.1 became effective within the
preceding 90 days. 
 2.1.2 Form. Except as otherwise provided above or required by law, each registration requested pursuant to
Section 2.1.1 shall be effected by the filing of a registration statement on Form S-3 (or any other form which includes substantially the same information as would be required to be included in a registration statement on such form as currently
constituted); provided, that if any registration requested pursuant to this Section 2.1 is proposed to be effected on Form S-3 (or any successor or similar shortform registration statement) and is in connection with an underwritten
offering, and if the managing underwriter shall advise the Company in writing that, in its opinion, it is of material importance to the success of such proposed offering to file a registration statement on Form S-1 (or any successor or similar
registration statement) or to include in such registration statement information not required to be included pursuant to Form S-3 (or any successor or similar shortform registration statement), then the Company will file a registration statement on
Form S-1 or supplement Form S-3 (or any successor or similar shortform registration statement) as reasonably requested by such managing underwriter. 
 2.1.3 Payment of Expenses. The Company shall pay all Registration Expenses in connection with registrations of Registrable Securities pursuant to this Section 2.1, including all reasonable expenses (other
than fees and disbursements of counsel that do not constitute Registration Expenses) that any Holder incurs in connection with each registration of Registrable Securities requested pursuant to this Section 2.1. 
 2.1.4 Additional Procedures. In the case of a registration pursuant to Section 2.1 hereof, whenever the Principal Participating Holders
shall request that such registration shall be effected pursuant to an underwritten offering, the Company shall include such information in the written notices to Holders referred to in Section 2.2. In such event, the right of any Holder to have
securities owned by such Holder included in such registration pursuant to Section 2.1 shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the
underwriting (unless otherwise mutually agreed upon by the Principal Participating Holders and such Holder). If requested by the Principal Participating Holders, the Company together with the Holders proposing to distribute their securities through
the underwriting will enter into an underwriting agreement with the underwriters for such offering containing such representations and warranties by the Company and such Holders and such other terms and provisions as are customarily contained in
underwriting agreements with respect to secondary distributions, including customary indemnity and contribution provisions (subject, in each case, to the limitations on such liabilities set forth in this Agreement). 
 2.1.5 Suspension of Registration. If the filing, initial effectiveness or continued use of a registration statement, including a shelf
registration statement pursuant to Rule 415 under the Securities Act, in respect of a registration pursuant to this Section 2.1, at any time would require the Company to make a public disclosure of material non-public information, which
disclosure in the good faith judgment of the Board (after consultation with external legal counsel) (i) would be required to be made in any registration statement so that such registration statement would not be materially misleading,
(ii) would not be required to be made at such time but 

  

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for the filing, effectiveness or continue use of such registration statement and (iii) would have a material adverse effect on the Company or its
business or on the Company’s ability to effect a material proposed acquisition, disposition, financing, reorganization, recapitalization or similar transaction, then the Company may, upon giving prompt written notice of such action to the
Holders participating in such registration, delay the filing or initial effectiveness of, or suspend the use of, such registration statement; provided, that the Company shall not be permitted to do so (i) more than two times during any
12 month period, (ii) for a period exceeding 30 days on any one occasion or (iii) for a period exceeding 60 days in any 12 month period. In the event the Company exercises its rights under the preceding sentence, such Holders agree to
suspend, promptly upon their receipt of the notice referred to above, their use of any prospectus relating to such registration in connection with any sale or offer to sell Registrable Securities. The Company shall promptly notify such Holders of
the expiration of any period during which it exercised its rights under this Section 2.1.5. The Company agrees that in the event it exercises its rights under this Section 2.1.5, it shall, within 30 days following such Holders’
receipt of the notice of suspension, update the suspended registration statement as may be necessary to permit the Holders to resume use thereof in connection with the offer and sale of their Registrable Securities in accordance with applicable law.

 2.2 Piggyback Registration Rights. 
 2.2.1 Piggyback Registration. 
 (a) General. Each time the Company proposes to register any
shares of Common Stock under the Securities Act on a form which would permit registration of Registrable Securities for sale to the public, for its own account and/or for the account of any other Person (pursuant to Section 2.1 or otherwise)
for sale in a Public Offering, the Company will give notice to all Holders of its intention to do so. Any Holder may, be written response delivered to the Company within 20 days after the date of delivery of such notice, request that all or a
specified part of such Holder’s Registrable Securities be included in such registration. The Company thereupon will use its best efforts to cause to be included in such registration under the Securities Act all Registrable Securities which the
Company has been so requested to register by such Holders, to the extent required to permit the disposition (in accordance with the methods to be used by the Company or, pursuant to Section 2.1, other Holders in such Public Offering) of the
Registrable Securities to be so registered; provided, that (i) if, at any time after giving written notice of this intention to register any securities, the Company shall determine for any reason not to proceed with the proposed
registration of the securities to be sold by it, the Company may, at its election, give written notice of such determination to each Holder and, thereupon, shall be relieved of its obligation to register any Registrable Securities in connection with
such registration (but not from its obligation to pay the Registration Expenses in connection therewith), and (ii) if such registration involves an underwritten offering, all Holders requesting to be included in the Company’s registration
must sell their Registrable Securities to the underwriters selected by the Company on the same terms and conditions as apply to the Company (with such differences as may be customary or appropriate in combined primary and secondary offerings) or, in
the case of a registration initiated pursuant to Section 2.1.1, the Principal Participating Holders. No registration of Registrable Securities effected under this Section 2.2 shall relieve the Company of any of its obligations to effect
registrations of Registrable Securities pursuant to Section 2.1 hereof. 
  

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 (b) Excluded Transactions. The Company shall not be obligated to effect any registration of
Registrable Securities under this Section 2.2 incidental to the registration of any of its securities in connection with: 
 (i) Any
Public Offering relating to employee benefit plans or dividend reinvestment plans; 
 (ii) Any Public Offering relating to the acquisition
or merger after the date hereof by the Company or any of its subsidiaries of or with any other businesses except to the extent such Public Offering is for the sale of securities for cash; or 
 (iii) The Initial Public Offering, unless such offering shall have been initiated pursuant to Section 2.1.1 or the Holders of a majority of the
Registrable Securities determine otherwise. 
 2.2.2 Payment of Expenses. The Company will pay all Registration Expenses in
connection with registrations of Registrable Securities pursuant to this Section 2.2. 
 2.2.3 Additional Procedures. Holders
participating in any Public Offering pursuant to this Section 2.2 shall take all such actions and execute all such documents and instruments that are reasonably requested by the Company to effect the sale of their Registrable Securities in such
Public Offering, including being parties to the underwriting agreement entered into by the Company and any other selling shareholders in connection therewith and being liable in respect of the representations and warranties and the other agreements
(including customary selling stockholder representations, warranties, indemnifications and “lock-up” agreements) for the benefit of the underwriters contained therein; provided, however, that (a) with respect to
individual representations, warranties, indemnities and agreements of sellers of Registrable Securities in such Public Offering, the aggregate amount of such liability shall not exceed such holder’s net proceeds from such offering and
(b) to the extent selling stockholders give further representations, warranties and indemnities, then with respect to all other representations, warranties and indemnities of sellers of shares in such Public Offering, the aggregate amount of
such liability shall not exceed the lesser of (i) such holder’s pro rata portion of any such liability, in accordance with such holder’s portion of the total number of Registrable Securities included in the offering, and
(ii) such holder’s net proceeds from such offering. 
 2.2.4 Registration Statement Form. The Company shall select the
registration statement form for any registration pursuant to this Section 2.2 (other than a registration that is also pursuant to Section 2.1); provided, that if any registration requested pursuant to this Section 2.2 is
proposed to be effected on Form S-3 (or any successor form) and is in connection with an underwritten offering, and if the managing underwriter shall advise the Company in writing that, in its opinion, it is of material importance to the success of
such proposed offering to include in such registration statement information not required to be included pursuant to such form, then the Company will supplement such registration statement as reasonably requested by such managing underwriter.

  

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 2.3 Certain Other Provisions. 
 2.3.1 Underwriter’s Cutback. In connection with any registration of shares, the underwriter may determine that marketing factors (including
an adverse effect on the per share offering price) require a limitation of the number of shares to be underwritten. Notwithstanding any contrary provision of this Section 2 and subject to the terms of this Section 2.3.1, the underwriter
may limit the number of shares which would otherwise be included in such registration by excluding any or all Registrable Securities from such registration, it being understood that, if the registration in question involves a registration for sale
of securities for the Company’s own account, then the number of shares which the Company seeks to have registered in such registration shall not be subject to exclusion, in whole or in part, under this Section 2.3.1. Upon receipt of notice
from the underwriter of the need to reduce the number of shares to be included in the registration, the Company shall advise all holders of the Company’s securities that would otherwise be registered and underwritten pursuant hereto, and the
number of shares of such securities, including Registrable Securities, that may be included in the registration shall be allocated in the following manner, unless the underwriter shall determine that marketing factors require a different allocation:
first, all shares other than Registrable Securities requested to be included in such registration by shareholders other than Holders shall be excluded unless the Company, with the consent of the parties required to approve any amendment or
waiver of this Agreement pursuant to Section 5.2, has granted registration rights which are to be treated on an equal basis with Registrable Securities for the purpose of the exercise of the underwriter cutback (such shares afforded such equal
treatment being “Parity Shares”); and second, if a further limitation on the number of shares is thereafter required, the number of all Registrable Securities, Parity Shares and other shares of Common Stock that may be
included in such registration shall be allocated among the holders thereof in proportion, as nearly as practicable, as follows: 
 (a) there
shall be first allocated to each such holder requesting that its Registrable Securities or Parity Shares be registered in such registration a number of such shares to be included in such registration equal to the lesser of (A) the number of
such shares requested to be registered by such holder, and (B) a number of such shares equal to such holder’s Pro Rata Portion; 
 (b) the balance, if any, not allocated pursuant to clause (a) above shall be allocated to those holders requesting that their Registrable Securities or Parity Shares be registered in such registration which requested to register a
number of such shares in excess of such holder’s Pro Rata Portion pro rata to each such holder based upon the number of Registrable Securities and Parity Shares held by such holder, or in such other manner as the holders requesting that their
Registrable Securities or Parity Shares be registered in such registration may otherwise agree; and 
 (c) the balance, if any, not
allocated pursuant to clause (b) above shall be allocated to shares, other than Registrable Securities and Parity Shares, requested to be included in such registration by other stockholders. 
 For purposes of any underwriter cutback, all Registrable Securities held by any Holder shall also include any Registrable Securities held by the partners, retired
partners, shareholders or Affiliates of 

  

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such Holder, or the estates and family members of any such Holder or such partners and retired partners, any trusts for the benefit of any of the foregoing
Persons and, at the election of such Holder or such partners, retired partners, trusts of Affiliates, any Charitable Organization to which any of the foregoing shall have contributed Common Stock prior to the execution of the underwriting agreement
in connection with such underwritten offering, and such Holder and such other Persons shall be deemed to be a single selling Holder, and any pro rata deduction with respect to such selling Holder shall be based upon the aggregate amount of Stock
owned by all entities and individuals included in such selling Holder, as defined in this sentence. No securities excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration. Upon
delivery of a written request that Registrable Securities be included in the underwriting pursuant to Section 2.1.1 or 2.2.1(a), the Holder thereof may not thereafter elect to withdraw therefrom without the written consent of the Principal
Participating Holders; provided, that if the managing underwriter of any underwritten offering shall advise the Holders participating in a registration pursuant to Section 2.1 that the Registrable Securities covered by the registration
statement cannot be sold in such offering within a price range acceptable to the Principal Participating Holders, then the Principal Participating Holders shall have the right to notify the Company that they have determined that the registration
statement be abandoned or withdrawn, in which event the Company shall abandon or withdraw such registration statement; provided, further that if the price to the public at which the Registrable Securities are proposed to be sold will
be less than 90% of the average closing price of the Common Stock during the 10 trading days preceding the date on which notice of such offering was given pursuant to Section 2.2.1(a), then each Investor Group participating in such registration
pursuant to Section 2.1 or 2.2 may elect to withdraw from such registration by written notice to the Company. The Company may, but shall not be required to, extend a similar withdrawal right to other Holders of Registrable Securities or Parity
Shares. 
 2.3.2 Registration Procedures. If and in each case when the Company is required to effect a registration of any
Registrable Securities as provided in this Section 2, the Company shall promptly: 
 (a) prepare and, in any event within forty-five
days (thirty days in the case of a Form S-3 registration) after the end of the period under Section 2.2.1(a) within which a piggyback request for registration may be given to the Company, file with the Commission a registration statement with
respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective within ninety days of the initial filing; 
 (b) prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective
for a period not in excess of 270 days (or such shorter period which will terminate when all Registrable Securities covered by such registration statement have been sold) and to comply with the provisions of the Securities Act and the Exchange Act
with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement;
provided, that before filing a registration statement or prospectus, or any amendments or supplements thereto in accordance with Sections 2.1 or 2.2, the Company will furnish to counsel selected pursuant to Section 2.3.3 hereof copies of
all documents proposed to be filed, which documents will be subject to the review of such counsel; 
  

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 (c) furnish to each seller of such Registrable Securities such number of copies of such registration
statement and of each amendment and supplement thereto (in each case including all exhibits filed therewith), such number of copies of the prospectus included in such registration statement (including each preliminary prospectus and summary
prospectus), in conformity with the requirements of the Securities Act, and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities by such seller; 
 (d) use its best efforts to register or qualify such Registrable Securities covered by such registration in such jurisdictions as each seller shall
reasonably request, and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller, except that the
Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction where, but for the requirements of this clause (d), it would not be obligated to be so qualified or to consent to
general service of process in any such jurisdiction; 
 (e) notify each seller of any such Registrable Securities covered by such
registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the Company’s becoming aware that the prospectus included in such registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and at the request of any
such seller, prepare and furnish to such seller a reasonable number of copies of an amended or supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not
include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 
 (f) otherwise use its best efforts to comply with all applicable rules and regulations of the Commission, and make available to its security holders, as
soon as reasonably practicable (but not more than 18 months) after the effective date of the registration statement, an earnings statement which shall satisfy the provisions of Section 11(a) of the Securities Act; 
 (g)(i) use its best efforts to list such Registrable Securities on any securities exchange or authorize for quotation on each other market (including,
if applicable, the National Association of Securities Dealers, Inc. (the “NASD”) Automated Quotation System) on which the Common Stock is then listed or authorized for quotation if such Registrable Securities are not already so
listed or authorized for quotation; and (ii) use its best efforts to provide a transfer agent and registrar for such Registrable Securities covered by such registration statement not later than the effective date of such registration statement;

 (h) enter into such customary agreements (including an underwriting agreement in customary form), which may include indemnification
provisions in favor 

  

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of underwriters and other Persons in addition to the provisions of Section 2.4 hereof, and take such other actions as the Principal Participating
Holders or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities; 
 (i) obtain a “cold comfort” letter or letters from the Company’s independent public accountants in customary form and covering matters of the type customarily covered by “cold comfort” letters as the Principal
Participating Holders shall reasonably request; 
 (j) make available for inspection by any seller of such Registrable Securities covered by
such registration statement, by any managing underwriter or underwriters participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such seller or any such
managing underwriters), all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by
any such seller, underwriter, attorney, accountant or agent in connection with such registration statement (subject to each party referred to in this clause (j) entering into customary confidentiality agreements in a form reasonably acceptable
to the Company); 
 (k) notify counsel (selected pursuant to Section 2.3.3 hereof) for the Holders of Registrable Securities included
in such registration statement and the managing underwriter or agent, immediately, and confirm the notice in writing (i) when the registration statement, or any post-effective amendment to the registration statement, shall have become
effective, or any supplement to the prospectus or any amendment to the prospectus shall have been filed, (ii) of the receipt of any comments from the Commission, (iii) of any request of the Commission to amend the registration statement or
amend or supplement the prospectus or for additional information, and (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any
preliminary prospectus, or of the suspension of the qualification of the registration statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for any of such purposes; 
 (l) make every commercially reasonable effort to prevent the issuance of any stop order suspending the effectiveness of the registration statement or of
any order preventing or suspending the use of any preliminary prospectus and, if any such order is issued, to obtain the withdrawal of any such order as soon as practicable; 
 (m) if requested by the managing underwriter or agent or any Holder of Registrable Securities covered by the registration statement, incorporate in a
prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such Holder reasonably requests to be included therein, including, with respect to the number of Registrable Securities being sold by such
Holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent and with respect to any other terms of the underwritten offering of the Registrable Securities to be sold in such offering; and make all
required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or post-effective amendment; 
  

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 (n) cooperate with the Holders of Registrable Securities covered by the registration statement and the
managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold under the registration statement, and enable such securities to be in
such denominations and registered in such names as the managing underwriter or agent, if any, or such Holders may request; 
 (o) obtain for
delivery to the Holders of Registrable Securities being registered and to the underwriter or agent an opinion or opinions from counsel for the Company in customary form and in form, substance and scope reasonably satisfactory to such Holders,
underwriters or agents and their counsel; 
 (p) cooperate with each seller of Registrable Securities and each underwriter or agent
participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the NASD; and 
 (q) use its commercially reasonable best efforts to make available the executive officers of the Company to participate with the Holders of Registrable Securities and any underwriters in any “road shows”
that may be reasonably requested by the Holders in connection with distribution of the Registrable Securities. 
 2.3.3 Selection of
Underwriters and Counsel. The underwriters and legal counsel to be retained by the Company in connection with any Public Offering shall be selected by the Board; provided that, in the case of an offering following a request therefor under
Section 2.1.1, such underwriters and counsel shall be reasonably acceptable to the Principal Participating Holders. In connection with any registration of Registrable Securities pursuant to Sections 2.1 and 2.2 hereof, the Principal
Participating Holders may select one counsel to represent all Holders of Registrable Securities covered by such registration; provided, however, that in the event that the counsel selected as provided above is also acting as counsel to
the Company in connection with such registration, the remaining Holders shall be entitled to select one additional counsel to represent, at such Holders’ expense, all such remaining Holders. 
 2.3.4 Company Lock-Up. If any registration pursuant to Section 2.1 of this Agreement shall be in connection with an underwritten public
offering, the Company agrees not to effect any public sale or distribution of any Common Stock of the Company (or securities convertible into or exchangeable or exercisable for Common Stock) (in each case, other than as part of such underwritten
public offering and other than pursuant to a registration on Form S-4 or S-8) for its own account, within 90 days (or such shorter period as the managing underwriters may require) after, the effective date of such registration (except as part of
such registration). 
 2.3.5 Holders and Other Holders Lock-Up. Each Holder and each Other Holder shall comply with the provisions of
Section 6 of the Stockholders Agreement applicable to a “Stockholder” as though such Section were set forth herein. 
 2.3.6
Other Agreements. The Company covenants and agrees that, so long as any Person holds any Registrable Securities in respect of which any registration rights provided for in Section 2.1 of this Agreement remain in effect, the Company will
not, directly or indirectly, 

  

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grant to any Person or agree to or otherwise become obligated in respect of (i) rights of registration in the nature or substantially in the nature of
those set forth in Section 2.1 of this Agreement that would not be subordinated to the Registrable Securities with respect to the inclusion of such securities in any registration or (ii) demand registration rights exercisable prior to such
time as the Investors can first exercise their rights under Section 2.1. 
 2.4 Indemnification and Contribution. 
 2.4.1 Indemnities of the Company. In the event of any registration of any Registrable Securities or other debt or equity securities of the Company
or any of its subsidiaries under the Securities Act pursuant to this Section 2 or otherwise, and in connection with any registration statement or any other disclosure document produced by or on behalf of the Company or any of its subsidiaries
including reports required and other documents filed under the Exchange Act, and other documents pursuant to which any debt or equity securities of the Company or any of its subsidiaries are sold (whether or not for the account of the Company or its
subsidiaries), the Company will, and hereby does, and will cause each of its subsidiaries, jointly and severally, to indemnify and hold harmless each holder of Registrable Securities, any Person who is or might be deemed to be a controlling Person
of the Company or any of its subsidiaries within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, their respective direct and indirect partners, advisory board members, directors, officers, trustees,
members and shareholders, and each other Person, if any, who controls any such holder or any such controlling Person within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (each such Person being referred
to herein as a “Covered Person”), against any losses, claims, damages or liabilities (or actions or proceedings in respect thereof), joint or several, to which such Covered Person may be or become subject under the Securities Act,
the Exchange Act, any other securities or other law of any jurisdiction, the common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions or proceedings in respect thereof) arise out of or are based upon (i) any
untrue statement or alleged untrue statement of any material fact contained or incorporated by reference in any registration statement under the Securities Act, any preliminary prospectus or final prospectus included therein, or any related summary
prospectus, or any amendment or supplement thereto, or any document incorporated by reference therein, or any other such disclosure document (including reports and other documents filed under the Exchange Act and any document incorporated by
reference therein) or other document or report, (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading or (iii) any violation or
alleged violation by the Company or any of its subsidiaries of any federal, state, foreign or common law rule or regulation applicable to the Company or any of its subsidiaries and relating to action or inaction in connection with any such
registration, disclosure document or other document or report, and will reimburse such Covered Person for any legal or any other expenses incurred by it in connection with investigating or defending any such loss, claim, damage, liability, action or
proceeding; provided, however, that neither the Company nor any of its subsidiaries shall be liable to any Covered Person in any such case to the extent that any such loss, claim, damage, liability, action or proceeding arises out of
or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, any such preliminary prospectus, final prospectus, summary prospectus, amendment or supplement, incorporated
document or other such disclosure document or other document or report, in reliance 

  

 -11- 

 
upon and in conformity with written information furnished to the Company or to any of its subsidiaries through an instrument duly executed by such Covered
Person specifically stating that it is for use in the preparation thereof. The indemnities of the Company and of its subsidiaries contained in this Section 2.4.1 shall remain in full force and effect regardless of any investigation made by or
on behalf of such Covered Person and shall survive any transfer of securities or any termination of this Agreement. 
 2.4.2 Indemnities
to the Company. Subject to Section 2.4.4, the Company and any of its subsidiaries may require, as a condition to including any securities in any registration statement filed pursuant to this Section 2, that the Company and any of its
subsidiaries shall have received an undertaking satisfactory to it from the prospective seller of such securities, severally and not jointly, to indemnify and hold harmless the Company and any of its subsidiaries, each director of the Company or any
of its subsidiaries, each officer of the Company or any of its subsidiaries who shall sign such registration statement and each other Person (other than such seller), if any, who controls the Company and any of its subsidiaries within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act and each other prospective seller of such securities with respect to any statement in or omission from such registration statement, any preliminary prospectus, final
prospectus or summary prospectus included therein, or any amendment or supplement thereto, or any other disclosure document (including reports and other documents filed under the Exchange Act or any document incorporated therein) or other document
or report, if such statement or omission was made in reliance upon and in conformity with written information furnished to the Company or any of its subsidiaries through an instrument executed by such seller specifically stating that it is for use
in the preparation of such registration statement, preliminary prospectus, final prospectus, summary prospectus, amendment or supplement, incorporated document or other document or report. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of the Company, any of its subsidiaries or any such director, officer or controlling Person and shall survive any transfer of securities or any termination of this Agreement. 
 2.4.3 Contribution. If the indemnification provided for in Sections 2.4.1 or 2.4.2 hereof is unavailable to a party that would have been entitled
to indemnification pursuant to the foregoing provisions of this Section 2.4 (an “Indemnitee”) in respect of any losses, claims, damages or liabilities (or actions or proceedings in respect thereof) referred to therein, then
each party that would have been an indemnifying party thereunder shall, subject to Section 2.4.4 and in lieu of indemnifying such Indemnitee, contribute to the amount paid or payable by such Indemnitee as a result of such losses, claims,
damages or liabilities (or actions or proceedings in respect thereof) in such proportion as is appropriate to reflect the relative fault of such indemnifying party on the one hand and such Indemnitee on the other in connection with the statements or
omissions which resulted in such losses, claims, damages or liabilities (or actions or proceedings in respect thereof). The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information supplied by such indemnifying party or such Indemnitee and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The parties agree that it would not be just or equitable if contribution pursuant to this Section 2.4.3 were determined by pro rata allocation or by any other method of 

  

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allocation which does not take account of the equitable considerations referred to in the preceding sentence. The amount paid or payable by a contributing
party as a result of the losses, claims, damages or liabilities (or actions or proceedings in respect thereof) referred to above in this Section 2.4.3 shall include any legal or other expenses reasonably incurred by such Indemnitee in
connection with investigating or defending any such action or claim. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation. 
 2.4.4 Limitation on Liability of Holders of Registrable Securities. The liability of
each Holder of Registrable Securities in respect of any indemnification or contribution obligation of such Holder arising under this Section 2.4 shall not in any event exceed an amount equal to the net proceeds to such Holder (after deduction
of all underwriters’ discounts and commissions) from the disposition of the Registrable Securities disposed of by such Holder pursuant to such registration. 
 2.4.5 Indemnification Procedures. Promptly after receipt by an Indemnitee of written notice of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant
to this Section 2.4, such Indemnitee will, if a claim in respect thereof is to be made against an indemnifying party, give written notice to the latter of the commencement of such action or proceeding; provided, that the failure of the
Indemnitee to give notice as provided herein shall not relieve the indemnifying party of its obligations under this Section 2.4, except to the extent that the indemnifying party is materially prejudiced by such failure to give notice. In case
any such action or proceeding is brought against an Indemnitee, the indemnifying party will be entitled to participate in and to assume the defense thereof (at its expense), jointly with any other indemnifying party similarly notified to the extent
that it may wish, with counsel reasonably satisfactory to such Indemnitee, and after notice from the indemnifying party to such Indemnitee of its election so to assume the defense thereof, the indemnifying party will not be liable to such Indemnitee
for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof other than reasonable costs of investigation and shall have no liability for any settlement made by the Indemnitee without the consent of the
indemnifying party, such consent not to be unreasonably withheld. Notwithstanding the foregoing, if in such Indemnitee’s reasonable judgment a conflict of interest between such Indemnitee and the indemnifying parties may exist in respect of
such action or proceeding or the indemnifying party does not assume the defense of any such action or proceeding within a reasonable time after notice of commencement, the Indemnitee shall have the right to assume or continue its own defense and the
indemnifying party shall be liable for any reasonable expenses therefor, but in no event will bear the expenses for more than one firm of counsel for all Indemnitees in each jurisdiction who shall be approved by the Principal Participating Holders
in the registration in respect of which such indemnification is sought. No indemnifying party will settle any action or proceeding or consent to the entry of any judgment without the prior written consent of the Indemnitee, unless such settlement or
judgment (i) includes as an unconditional term thereof the giving by the claimant or plaintiff of a release to such Indemnitee from all liability in respect of such action or proceeding and (ii) does not involve the imposition of equitable
remedies or the imposition of any obligations on such Indemnitee and does not otherwise adversely affect such Indemnitee, other than as a result of the imposition of financial obligations for which such Indemnitee will be indemnified hereunder.

  

 -13- 

 2.5 Permitted Registration Rights Assignees. 
 2.5.1 Registration Rights. The rights of a Holder of Registrable Securities to cause the Company to register its Registrable Securities pursuant
to Section 2.1 may be assigned (but only with all related obligations as set forth below) in a Transfer effected in accordance with the terms of the Stockholders Agreement and this Agreement to: (a) a Charitable Organization, (b) a
Permitted Transferee or (c) any other transferee that, together with its Affiliates, in the case of this clause (c) acquires shares of Registrable Securities either (i) for consideration of at least $10,000,000 or (ii) having a
then fair market value (determined in good faith by the Board) of at least $10,000,000 (the transferees described in clauses (a), (b) and (c) each a “Permitted Registration Rights Assignee”). Without prejudice to any other
or similar conditions imposed hereunder with respect to any such Transfer, no assignment permitted under the terms of this Section 2.5.1 shall be effective unless the Permitted Registration Rights Assignee, if not a Stockholder, has delivered
to the Company a written acknowledgment and agreement in form and substance reasonably satisfactory to the Company that such Registrable Securities in respect of which such assignment is made shall be deemed Other Holder Shares and shall be subject
to all of the provisions of this Agreement relating to Other Holder Shares and that such Permitted Registration Rights Assignee shall be bound by, and shall be an Other Holder party to, this Agreement and the holder of Other Holder Shares hereunder.
A transferee to whom rights are transferred pursuant to this Section 2.5.1 may not again transfer such rights to any Person, other than as provided in this Section 2.5.1. 
 3. Remedies. 
 3.1 Generally.
The parties shall have all remedies available at law, in equity or otherwise in the event of any breach or violation of this Agreement or any default hereunder. The parties acknowledge and agree that in the event of any breach of this Agreement, in
addition to any other remedies which may be available, each of the parties hereto shall be entitled to specific performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies (including preliminary or
temporary relief) as may be appropriate in the circumstances. 
 4. Permitted Transferees. 
 4.1 Transfers by Investors. The rights of an Investor hereunder may be assigned (but only with all related obligations as set forth below) in
connection with a Transfer of Shares effected in accordance with the terms of the Stockholders Agreement and this Agreement to a Permitted Transferee of such Investor. Without prejudice to any other or similar conditions imposed hereunder with
respect to any such Transfer, no assignment permitted under the terms of this Section 4.1 shall be effective unless the Permitted Transferee to which such assignment is being made, if not a Stockholder, has delivered to the Company a written
acknowledgment and agreement in form and substance reasonably satisfactory to the Company that the Shares in respect of which such assignment is made shall continue to be deemed Shares and shall be subject to all of the provisions of this Agreement
relating to Shares and that such Permitted Transferee shall be bound by, and shall be a party to, this Agreement as an Investor. A Permitted Transferee to whom rights are transferred pursuant to this Section 4.1 may not again transfer such
rights to any other Permitted Transferee, other than as provided in this Section 4.1. 
  

 -14- 

 5. Amendment, Termination, Etc. 
 5.1 Oral Modifications. This Agreement may not be orally amended, modified, extended or terminated, nor shall any oral waiver of any of its terms
be effective. 
 5.2 Written Modifications. This Agreement may be amended, modified, extended or terminated, and the provisions hereof
may be waived, only by an agreement in writing signed by the Company and the Holders of a majority of the Registrable Securities; provided, that without a Holder’s consent, no such amendment, modification, extension, termination or
waiver shall treat such Holder dissimilarly from any other Holder. Each such amendment, modification, extension, termination or waiver of this Agreement (each such action, an “Amendment”) shall be binding upon each party hereto and
each holder of Shares or Other Holder Shares subject hereto. In addition, each party hereto and each holder of Shares or Other Holder Shares subject hereto may waive any right hereunder by an instrument in writing signed by such party or holder. To
the extent the Amendment of any Section of this Agreement would require a specific consent pursuant this Section 5.2, any Amendment to the definitions used in such Section shall also require the specified consent, 
 5.3 Effect of Termination. No termination under this Agreement shall relieve any Person of liability for breach prior to termination. In the event
this Agreement is terminated, each Investor shall retain the indemnification rights pursuant to Section 2.4 hereof with respect to any matter that (i) may be an indemnified liability thereunder and (ii) occurred prior to such
termination. 
 6. Definitions. 
 6.1 Certain Matters of Construction. In addition to the definitions referred to or set forth below in this Section 6: 
 (i) The words “hereof, “herein”, “hereunder” and words of similar import shall refer to this Agreement as a whole and not to any particular Section or provision of this Agreement, and reference to a particular
Section of this Agreement shall include all subsections thereof; 
 (ii) The word “including” shall mean including, without
limitation; 
 (iii) Definitions shall be equally applicable to both nouns and verbs and the singular and plural forms of the terms defined;
and 
 (iv) The masculine, feminine and neuter genders shall each include the other. 
 6.2 Definitions. The following terms shall have the following meanings: 
 “Acquisition Agreement” shall have the meaning set forth in the Recitals. 
 “Affiliate” shall mean, with respect to any specified Person, (a) any other Person which directly or indirectly through one or more
intermediaries controls, or is controlled by, or is under common control with, such specified Person (for the purposes of this definition, “control” 

  

 -15- 

 
(including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with
respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise);
provided, however, that neither the Company nor any of its subsidiaries shall be deemed an Affiliate of any of the Stockholders (and vice versa), (b) if such specified Person is an investment fund, any other investment fund the
primary investment advisor to which is the primary investment advisor to such specified Person or an Affiliate thereof and (c) if such specified Person is a natural Person, any Family Member of such natural Person. 
 “Affiliated Fund” shall mean, with respect to any specified Person, an investment fund that is an Affiliate of such Person or that is
advised by the same investment adviser as such Person or by an Affiliate of such investment adviser. 
 “Agreement” shall
have the meaning set forth in the Preamble. 
 “Amendment” shall have the meaning set forth in Section 5.2. 

“Bain Investors” shall mean, as of any date, Bain Capital Venture Integral Investors, LLC, BCV Co-Invest SW, L.P. and their
respective Permitted Transferees, in each case only if such Person is then an Investor and holds any Shares. 
 “Board”
shall mean the board of directors of the Company. 
 “business day” shall mean any day that is not a Saturday, a Sunday or
other day on which banks are required or authorized by law to be closed in the City of New York. 
 “Change of Control”
shall mean the occurrence of (a) any consolidation or merger of the Company with or into any other corporation or other Person, or any other corporate reorganization or transaction (including the acquisition of capital stock of the Company),
whether or not the Company is a party thereto, in which the stockholders of the Company immediately prior to such consolidation, merger, reorganization or transaction, own capital stock either (i) representing directly, or indirectly through
one or more entities, less than fifty percent (50%) of the economic interests in or voting power of the Company or other surviving entity immediately after such consolidation, merger, reorganization or transaction or (ii) that does not
directly, or indirectly through one or more entities, have the power to elect a majority of the entire board of directors of the Company or other surviving entity immediately after such consolidation, merger, reorganization or transaction;
(b) any transaction or series of related transactions, whether or not the Company is a party thereto, after giving effect to which in excess of fifty percent (50%) of the Company’s voting power is owned directly, or indirectly through
one or more entities, by any Person and its “affiliates” or “associates” (as such terms are defined in the rules adopted by the Commission under the Exchange Act), other than the Investors and their respective Affiliated Funds,
excluding, in any case referred to in clause (a) or (b) any Initial Public Offering or any bona fide primary or secondary public offering following the occurrence of an Initial Public Offering; or (c) a sale, lease or other
disposition of all or substantially all of the assets of the Company. 
  

 -16- 

 “Charitable Organization” shall mean a charitable organization as described by
Section 501(c)(3) of the Internal Revenue Code of 1986, as in effect from time to time. 
 “Closing” shall have the
meaning set forth in Section 1.1. 
 “Commission” shall mean the Securities and Exchange Commission. 
 “Common Stock” shall mean the Common Stock, par value $0.001 per share, of the Company. 
 “Company” shall have the meaning set forth in the Preamble, and any successor entity by merger, consolidation, liquidation,
recapitalization or share exchange. 
 “Convertible Securities” shall mean any evidence of indebtedness, shares of stock
(other than Stock) or other securities (other than Options and Warrants) which are directly or indirectly convertible into or exchangeable or exercisable for shares of Stock. 
 “Covered Person” shall have the meaning set forth in Section 2.4.1. 
 “Equivalent Shares” shall mean, at any date of determination, (a) as to any outstanding shares of Stock, such number of shares of
Stock and (b) as to any outstanding Options, Warrants or Convertible Securities which constitute Shares, the maximum number of shares of Stock for which or into which such Options, Warrants or Convertible Securities may at the time be
exercised, converted or exchanged (or which will become exercisable, convertible or exchangeable on or prior to, or by reason of, the transaction or circumstance in connection with which the number of Equivalent Shares is to be determined).

 “Exchange Act” shall mean the Securities Exchange Act of 1934, as in effect from time to time. 
 “Family Member” shall mean, with respect to any natural Person, (i) any lineal descendant or ancestor or sibling (by birth or
adoption) of such natural Person, (ii) any spouse or former spouse, parent, sibling (by birth or adoption) or descendant of any of the foregoing, (iii) any legal representative or estate of any of the foregoing, (iv) any trust
maintained for the benefit of the foregoing and (v) any corporation, private charitable foundation or other organization controlled by the foregoing. 
 “Financial Investor” shall mean, as of any date, each GoldenTree Entity, Robert Martin and their respective Permitted Transferees, in each case only if such Person is then an Investor and holds any
Shares. 
 “Founder” shall have the meaning set forth in the Recitals. 
 “GoldenTree Entities” shall mean GoldenTree High Yield Value Master Fund, LP, GoldenTree Capital Opportunities, LP, GoldenTree Capital
Solutions Fund Financing, GoldenTree Capital Solutions Offshore Fund Financing, GoldenTree Multistrategy Financing, Ltd., GoldenTree Credit Opportunities Financing I, Ltd., GoldenTree Credit Opportunities Financing II, Ltd., GoldenTree High Yield
Master Fund, Ltd., GoldenTree High Yield Master Fund II, Ltd. and Safety National Casualty Corporation. 
  

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 “Holders” shall mean the holders of Registrable Securities under this Agreement.

 “Indemnitee” shall have the meaning set forth in Section 2.4.3. 
 “Initial Public Offering” shall mean the initial Public Offering registered on Form S-1 (or any successor form under the Securities
Act). 
 “Initiating Investors” shall have the meaning set forth in Section 2.1.1. 
 “Insight Investors” shall mean, as of any date, Insight Venture Partners V, L.P., Insight Venture Partners (Cayman) V, L.P., Insight
Venture Partners V (Employee Co-Investors), L.P., Insight Venture Partners V Coinvestment Fund, L.P., Insight Venture Partners IV, L.P., Insight Venture Partners IV (Fund B), L.P., Insight Venture Partners (Cayman) IV, L.P., Insight Venture Partners
IV (Co-Investors), L.P. and their respective Permitted Transferees, in each case only if such Person is then an Investor and holds any Shares. 
 “Investors” shall have the meaning set forth in the Preamble. 
 “Investor Group” shall mean any
one of (a) the Bain Investors, collectively, (b) the Insight Investors, collectively, and (c) the Yonce Group, collectively. 
 “Issuance” shall have the meaning set forth in Section 2. 
 “Issuer” shall have the meaning
set forth in Section 2. 
 “Majority in Interest” shall mean, (a) with respect to a set of Shares of a single
class, a majority of such Shares and (b) with respect to a set of Shares of more than one class, a majority in aggregate Purchase Price Value of such Shares. 
 “NASD” shall have the meaning set forth in Section 2.3.2(g). 
 “OpCo”
shall mean SolarWinds.Net, LLC. 
 “Options” shall mean any options to subscribe for, purchase or otherwise directly acquire
Common Stock, other than any such option held by the Company or any right to purchase shares pursuant to this Agreement. 
 “Other
Holder Shares” shall mean (a) all shares of Stock held by an Other Holder that were Transferred to such Other Holder in a transaction subject to Section 2.5.1 or that were acquired by such Other Holder upon the exercise,
conversion or exchange of any Options, Warrants or Convertible Securities that were Transferred to such Other Holder in a transaction subject to Section 2.5.1 and (b) all Options, Warrants and Convertible Securities that were Transferred
to such Other Holder in a transaction subject to Section 2.5.1, treating such Options, Warrants and Convertible Securities as a number of Other Holder Shares equal to the maximum number of shares 

  

 -18- 

 
of Stock for which or into which such Options, Warrants or Convertible Securities may at the time be exercised, converted or exchanged (or which will become
exercisable, convertible or exchangeable on or prior to, or by reason of, the transaction or circumstance in connection with which the number of Other Holder Shares is to be determined). 
 “Other Holders” shall have the meaning set forth in the Preamble. 
 “Parity Shares” shall have the meaning set forth in Section 2.3.1. 
 “Permitted Registration Rights Assignee” shall have the meaning set forth in Section 2.5.1. 
 “Permitted Transferee” shall mean, in respect of any Investor, any Affiliated Fund of such Investor, and, in respect of any Founder, any
Family Member of such Founder, in each case to the extent such Person agrees to be bound by the terms of this Agreement and the Stockholders Agreement, as applicable. In addition, any Stockholder shall be a Permitted Transferee of the Permitted
Transferees of itself. 
 “Person” shall mean any individual, partnership, corporation, company, association, trust, joint
venture, limited liability company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 
 “Preferred Stock” shall mean the Participating Preferred Stock, par value $0.001 per share, of the Company. 
 “Principal Lock-Up Agreement” shall have the meaning set forth in Section 6 of the Stockholders Agreement. 
 “Principal Participating Holders” shall mean, with respect to any Public Offering, (i) the two holders (determined in accordance
with Section 2.3.1) including the greatest number of Registrable Securities in such Public Offering, (ii) if there are more than two such holders including the greatest number of Registrable Securities in such Public Offering, all of such
holders and (iii) if there is only one such holder including any Registrable Securities in such Public Offering, such holder. Where this Agreement provides for the vote, consent or approval of the Principal Participating Holders, such vote,
consent or approval shall be required of each such holder as identified in the preceding sentence. 
 “Pro Rata Portion”
shall mean for purposes of Section 2.3, with respect to each holder of Registrable Securities or Parity Shares requesting that such shares be registered in such registration statement, a number of such shares equal to the aggregate number of
shares of Common Stock to be registered in such registration (excluding any shares to be registered for the account of the Company) multiplied by a fraction, the numerator of which is the aggregate number of Registrable Securities and Parity Shares
held by such holder, and the denominator of which is the aggregate number of Registrable Securities and Parity Shares held by all holders requesting that their Registrable Securities or Parity Shares be registered in such registration. 

 

 -19- 

 “Public Offering” shall mean a public offering and sale of Common Stock for cash
pursuant to an effective registration statement under the Securities Act. 
 “Purchase Price Value” shall mean:
(a) $8.0556, in the case of a share of Common Stock, and (b) $8.0556, in the case of a share of Preferred Stock, in each case appropriately adjusted for any stock split, stock dividend, combination, recapitalization or the like involving
such class. 
 “Registrable Securities” shall mean (a) all shares of Common Stock held by any Bain Investor, Insight
Investor or Founder and all shares of Common Stock issued or issuable upon conversion of shares of Preferred Stock held by any Bain Investor, Insight Investor or Founder, (b) all shares of Common Stock issuable upon exercise., conversion or
exchange of any Option, Warrant or Convertible Security held by any Bain Investor, Insight Investor or Founder, (c) solely with respect to any registration rights as set forth in Section 2.2 (and all obligations pertaining thereto), all
shares of Common Stock held by any Financial Investor or any Permitted Registration Rights Assignee thereof, including any shares issued or issuable upon conversion of any shares of Preferred Stock held thereby, and (d) all shares of Common
Stock directly or indirectly issued or issuable with respect to the securities referred to in clauses (a), (b) or (c) above by way of stock dividend or stock split or in connection with a combination of shares, recapitalization, merger,
consolidation or other reorganization, in each case to a Holder or Other Holder. As to any particular Registrable Securities, such shares shall cease to be Registrable Securities when (i) such securities shall have ceased to be Shares or Other
Holder Shares hereunder, (ii) a registration statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with such registration
statement, (iii) such securities shall have been Transferred pursuant to Rule 144 or Rule 145, (iv) disposition of such securities may be made by the Holder thereof under Rule 144 or 145 and the holder of such securities holds no more than
one percent of the shares of the applicable class outstanding as shown by the most recent report or statement published by the Company, (v) subject to the provisions of Section 5.2 hereof, such securities shall have been otherwise
transferred to a Person that is not an Affiliate of the transferor, new certificates for them not bearing a legend restricting further transfer shall have been delivered by the Company as part of such transfer and subsequent disposition of them
shall not require registration of them under the Securities Act and such securities may be distributed without volume limitation or other restrictions on transfer under Rule 144 or Rule 145 (including without application of paragraphs (c),
(e) (i) and (h) of Rule 144), or (vi) such securities shall have ceased to be outstanding. 
 “Registration
Expenses” means any and all expenses incident to performance of or compliance with Section 2 of this Agreement (other than underwriting discounts and commissions paid to underwriters and transfer taxes, if any), including (a) all
Commission and securities exchange or NASD registration and filing fees, (b) all fees and expenses of complying with securities or blue sky laws (including reasonable fees and disbursements of counsel for the underwriters in connection with
blue sky qualifications of the Registrable Securities), (c) all printing, messenger and delivery expenses, (d) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or NASD
pursuant to Section 2.3.2(g) and all rating agency fees, (e) the fees and disbursements of counsel for the Company and of its independent public accountants, including the expenses of any special audits and/or “cold comfort”
letters required by or 

  

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incident to such performance and compliance, (f) the reasonable fees and disbursements of one counsel for the Holders selected pursuant to the terms of
Section 2, (g) any fees and disbursements customarily paid by the issuers of securities, and (h) expenses incurred in connection with any road show (including the reasonable out-of-pocket expenses of the Holders). 
 “Rule 144” shall mean Rule 144 under the Securities Act (or any successor Rule). 
 “Rule 145” shall mean Rule 145 under the Securities Act (or any successor Rule). 
 “Rule 145 Transaction” shall mean a registration on Form S-4 (or any successor Form) pursuant to Rule 145. 
 “Sale” shall mean a Transfer for value and the terms “Sell” and “Sold” shall have correlative meanings. 

“Securities Act” shall mean the Securities Act of 1933, as in effect from time to time. 
 “Shares” shall mean (a) all shares of Stock held by a Stockholder, whenever issued, including all shares of Stock issued upon the
exercise, conversion or exchange of any Options, Warrants or Convertible Securities and (b) all Options, Warrants and Convertible Securities held by a Stockholder (treating such Options, Warrants and Convertible Securities as a number of Shares
equal to the number of Equivalent Shares represented by such Options, Warrants and Convertible Securities for all purposes of this Agreement except as otherwise specifically set forth herein). 
 “Stock” shall mean the Common Stock and the Preferred Stock, and any securities into which such Common Stock and/or Preferred Stock
shall subsequently be exchanged or converted, whether by means of a recapitalization, exchange, merger, consolidation, reorganization or otherwise, and whether or not the Company is the survivor of such action. 
 “Stockholders” shall have the meaning set forth in the Stockholders Agreement. 
 “Stockholders Agreement” shall have the meaning set forth in the Recitals. 
 “Transfer” shall mean any sale, pledge, assignment, encumbrance or other transfer or disposition of any Shares or Other Holder Shares to
any other Person, whether directly, indirectly, voluntarily, involuntarily, by operation of law, pursuant to judicial process or otherwise. 
 “Warrants” shall mean any warrants to subscribe for, purchase or otherwise directly acquire Stock. 
 “Yonce Group” shall mean Donald C. Yonce, David A. Yonce, their Affiliates, and any trust maintained for the benefit of any of the foregoing. 
 7. Miscellaneous. 
 7.1 Authority; Effect. Each party hereto represents and warrants to and
agrees with each other party that the execution and delivery of this Agreement and the consummation of the 

  

 -21- 

 
transactions contemplated hereby have been duly authorized on behalf of such party and do not violate any agreement or other instrument applicable to such
party or by which its assets are bound. This Agreement does not, and shall not be construed to, give rise to the creation of a partnership among any of the parties hereto, or to constitute any of such parties members of a joint venture or other
association. 
 7.2 Notices. Any notices and other communications required or permitted in this Agreement shall be effective if in
writing and (a) delivered personally, (b) sent by facsimile, or (c) sent by overnight courier, in each case, addressed as follows: 
 If to the Company to it: 
 c/o SolarWinds.Net, Inc. 
 8221 East 63rd Place 
 Tulsa, Oklahoma 74133 
 Attention: Donald C. Yonce 
 with copies to:

 Morrel, West, Saffa, Craige & Hicks, Inc. 
 3501 South Yale Avenue 
 Tulsa, OK 74135 
 Telephone No.: (918) 664-0800 
 Facsimile No.: (918) 663-1383 
 Attention: Reece B. Morrel, Esq. 
 If to a Bain Investor, to it: 
 c/o Bain
Capital, LLC 
 111 Huntington Avenue 
 Boston, MA 02199 
 Facsimile: (617) 516-2010 
 Attention: Benjamin Nye 
 with copies to: 
 Ropes & Gray LLP 
 One
International Place 
 Boston, Massachusetts 02210 
 Facsimile: (617) 951-7050 
 Attention: Peter H. Dodson, Esq. 
  

 -22- 

 If to an Insight Investor, to it: 
 c/o Insight Venture Management, LLC 
 680 Fifth Avenue 
 New York, New York 10019 
 Facsimile: (212) 230-9272 
 Attention: Blair Flicker, Esq. 
 with copies to: 
 Willkie Farr & Gallagher LLP 
 787 Seventh Avenue 
 New York, NY 10019-6099 
 Facsimile: (212) 728-8111 
 Attention: Gordon R. Caplan, Esq. 
 If to a Founder, to it: 
 Donald C. Yonce 
 6206 East 105th Street 
 Tulsa, Oklahoma 74137 
 with copies to: 
 Weil,
Gotshal & Manges LLP 
 200 Crescent Court, Suite 300 
 Dallas TX 75201-6950 
 Facsimile: (214) 746-7777 
 Attention: Mary R. Korby, Esq. 
 and to: 
 Morrel, West,
Saffa, Craige & Hicks, Inc. 
 3501 South Yale Avenue 
 Tulsa, OK 74135 
 Telephone No.: (918) 664-0800 
 Facsimile No.: (918) 663-1383 
 Attention: Reece B. Morrel, Esq. 
 Notice to the holder of record of any shares of capital stock shall be deemed to be notice to the holder of such shares for all purposes hereof. 
 Unless otherwise specified herein, such notices or other communications shall be deemed effective (a) on the date received, if personally delivered, (b) on the date received if delivered by facsimile on a
business day, or if not delivered on a business day, on the first business day thereafter and (b) two business days after being sent by overnight courier. Each of the parties hereto shall be entitled to specify a different address by giving
notice as aforesaid to each of the other parties hereto. 
  

 -23- 

 7.3 Binding Effect, Etc. Except for restrictions on the Transfer of Shares set forth in other
written agreements, plans or documents, and except for other written agreements dated on or about the date of this Agreement, this Agreement constitutes the entire agreement of the parties with respect to its subject matter, supersedes all prior or
contemporaneous oral or written agreements or discussions with respect to such subject matter, and shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, representatives, successors and permitted assigns.
Except as otherwise expressly provided herein, no Investor or other party hereto may assign any of its respective rights or delegate any of its respective obligations under this Agreement without the prior written consent of the other parties
hereto, and any attempted assignment or delegation in violation of the foregoing shall be null and void, 
 7.4 Descriptive Heading.
The descriptive headings of this Agreement are for convenience of reference only, are not to be considered a part hereof and shall not be construed to define or limit any of the terms or provisions hereof. 
 7.5 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which taken
together shall constitute one instrument. 
 7.6 Severability. In the event that any provision hereof would, under applicable law, be
invalid or unenforceable in any respect, such provision shall be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. The provisions hereof are severable,
and in the event any provision hereof should be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect any other provision hereof. 
 7.7 No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, the Company and each Investor covenant, agree and
acknowledge that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement shall be had against any current or future director, officer, employee, general or limited partner or member of any
Investor or of any Affiliate or assignee thereof, as such, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and
acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any Investor or any current or future member of any Investor or any current or future
director, officer, employee, partner or member of any Investor or of any Affiliate or assignee thereof, as such, for any obligation of any Investor under this Agreement or any documents or instruments delivered in connection with this Agreement for
any claim based on, in respect of or by reason of such obligations or their creation. 
 7.8 Aggregation of Shares. All Shares held by
an Investor and its Affiliates shall be aggregated together for purposes of determining the availability of any rights under Sections 2 and 4. Within any Investor Group, the Investors may allocate the ability to exercise any rights under this
Agreement in any manner that such Investor Group (by a Majority in Interest of the Shares held by such Investor Group) sees fit. 
  

 -24- 

 8. Governing Law. 
 8.1 Governing Law. This Agreement and all claims arising out of or based upon this Agreement or relating to the subject matter hereof shall be governed by and construed in accordance with the domestic
substantive laws of the State of New York. 
 8.2 Consent to Jurisdiction. Each party to this Agreement, by its execution hereof,
(a) hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the State of New York for the purpose of any action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or
investigation arising out of or based upon this Agreement or relating to the subject matter hereof, (b) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to allow any of its subsidiaries to
assert, by way of motion, as a defense or otherwise, in any such action, 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, that any such
proceeding brought in one of the above-named courts is improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (c) hereby agrees not to commence or maintain any action, claim, cause
of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation arising out of or based upon this Agreement or relating to the subject matter hereof or thereof other than before one of the above-named courts nor to make any
motion or take any other action seeking or intending to cause the transfer or removal of any such action, claim, cause of action or suit (in contract, tort or otherwise), inquiry, proceeding or investigation to any court other than one of the
above-named courts whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert indemnification rights
set forth in this agreement, the court in which such litigation is being heard shall be deemed to be included in clause (a) above. Notwithstanding the foregoing, any party to this Agreement may commence and maintain an action to enforce a
judgment of any of the above-named courts in any court of competent jurisdiction. Each party hereto hereby consents to service of process in any such proceeding in any manner permitted by New York law, and agrees that service of process by
registered or certified mail, return receipt requested, at its address specified pursuant to Section 8.2 hereof is reasonably calculated to give actual notice. 
 8.3 WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR
OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT
MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS 
  

 -25- 

 
BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 8.3 CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO
THIS AGREEMENT. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 8.3 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 
 8.4 Exercise of Rights and Remedies. No delay of or omission in the exercise of any right, power or remedy accruing to any party as a result of
any breach or default by any other party under this Agreement shall impair any such right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar breach or default occurring later;
nor shall any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that waiver. 
 [Signature pages follow] 
  

 -26- 

											
		  		 	 BAIN ENTITIES:
  

		  		 		  	 BAIN CAPITAL VENTURE INTEGRAL
 INVESTORS, LLC

  

		  		 		  	By:	  	Bain Capital Venture Investors, LLC,
		  		 		  		  	 as Administrative Member
  

		  		 		  		  	By:	  	 /S/    J. BENJAMIN NYE

		  		 		  		  	Name:	  	J. Benjamin Nye
		  		 		  		  	Title:	  	Authorized Person
		  		 		  	  
 BCV COINVEST SW, LP
  

		  		 		  		  	By:	  	 /S/    J. BENJAMIN NYE

		  		 		  		  	Name:	  	J. Benjamin Nye
		  		 		  		  	Title:	  	Attorney-in-Fact
		  		 	  
 INSIGHT ENTITIES:
  

		  		 		  	 INSIGHT VENTURE PARTNERS IV, L.P.
  

		  		 		  	By:	  	Insight Venture Associates IV, L.L.C.,
		  		 		  		  	 its General Partner
  

		  		 		  		  	By:	  	 /S/    MICHAEL TRIPLETT

		  		 		  		  	Name:	  	
		  		 		  		  	Title:	  	
		  		 		  	  
 INSIGHT VENTURE PARTNERS IV
 (FUND B), L.P.
  

		  		 		  	By:	  	Insight Venture Associates IV, L.L.C.,
		  		 		  		  	 its General Partner
  

		  		 		  		  	By:	  	 /S/    MICHAEL TRIPLETT

		  		 		  		  	Name:	  	
		  		 		  		  	Title:	  	

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

											
		  		  		  	 INSIGHT VENTURE PARTNERS
 (CAYMAN) IV, L.P.

  

		  		  		  	By:	  	Insight Venture Associates IV, L.L.C.,
		  		  		  		  	 its General Partner
  

		  		  		  		  	By:	 	 /S/    MICHAEL TRIPLETT

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 INSIGHT VENTURE PARTNERS IV
 (CO-INVESTORS), L.P.
  

		  		  		  	By:	  	Insight Venture Associates IV, L.L.C.,
		  		  		  		  	 its General Partner
  

		  		  		  		  	By:	 	 /S/    MICHAEL TRIPLETT

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 INSIGHT VENTURE PARTNERS V, L.P.
  

		  		  		  	By:	  	Insight Venture Associates V, L.L.C.,
		  		  		  		  	 its General Partner
  

		  		  		  		  	By:	 	 /S/    MICHAEL TRIPLETT

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 INSIGHT VENTURE PARTNERS
 (CAYMAN) V, L.P.
  

		  		  		  	By:	  	Insight Venture Associates V, L.L.C.,
		  		  		  		  	 its General Partner
  

		  		  		  		  	By:	 	 /S/    MICHAEL TRIPLETT

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

											
		  		  		 	 INSIGHT VENTURE PARTNERS V
 (EMPLOYEE
CO-INVESTORS), L.P.
  

		  		  		 	By:	  	Insight Venture Associates V, L.L.C.,
		  		  		 		  	 its General Partner
  

		  		  		 		  	By:	 	 /S/    MICHAEL TRIPLETT

		  		  		 		  	Name:	 	
		  		  		 		  	Title:	 	
		  		  		 	  
 INSIGHT VENTURE PARTNERS V
 COINVESTMENT FUND, L.P.
  

		  		  		 	By:	  	Insight Venture Associates V, L.L.C.,
		  		  		 		  	 its General Partner
  

		  		  		 		  	By:	 	 /S/    MICHAEL TRIPLETT

		  		  		 		  	Name:	 	
		  		  		 		  	Title:	 	
		  		  	  
 GOLDENTREE ENTITIES:
  

		  		  		 	 GOLDENTREE HIGH YIELD VALUE
 MASTER FUND, LP

  

		  		  		 	By:	  	 GoldenTree Asset Management, LP
  

		  		  		 		  	By:	 	 /S/    MICHAEL TRIPLETT

		  		  		 		  	Name:	 	
		  		  		 		  	Title:	 	

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

											
		  		  		  	 GOLDENTREE CAPITAL SOLUTIONS
 FUND FINANCING

  

		  		  		  	By:	  	 GoldenTree Asset Management, LP
  

		  		  		  		  	By:	 	 /S/    JONATHAN EZROW

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 GOLDENTREE CAPITAL SOLUTIONS
 OFFSHORE FUND FINANCING
  

		  		  		  	By:	  	 GoldenTree Asset Management, LP
  

		  		  		  		  	By:	 	 /S/    JONATHAN EZROW

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 GOLDENTREE MULTISTRATEGY
 FINANCING, LTD.
  

		  		  		  	By:	  	 GoldenTree Asset Management, LP
  

		  		  		  		  	By:	 	 /S/    JONATHAN EZROW

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 GOLDENTREE CREDIT OPPORTUNITIES
 FINANCING I, LTD.
  

		  		  		  	By:	  	 GoldenTree Asset Management, LP
  

		  		  		  		  	By:	 	 /S/    JONATHAN EZROW

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

											
		  		  		  	 GOLDENTREE CREDIT OPPORTUNITIES
 FINANCING
II, LTD.
  

		  		  		  	By:	  	 GoldenTree Asset Management, LP
  

		  		  		  		  	By:	 	 /S/    JONATHAN EZROW

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 GOLDENTREE HIGH YIELD MASTER FUND, LTD.
  

		  		  		  	By:	  	 GoldenTree Asset Management, LP
  

		  		  		  		  	By:	 	 /S/    JONATHAN EZROW

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 GOLDENTREE HIGH YIELD MASTER
 FUND II, LTD.
  

		  		  		  	By:	  	 GoldenTree Asset Management, LP
  

		  		  		  		  	By:	 	 /S/    JONATHAN EZROW

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	
		  		  		  	  
 SAFETY NATIONAL CASUALTY
 CORPORATION
  

		  		  		  	By:	  	 GoldenTree Asset Management, LP
  

		  		  		  		  	By:	 	 /S/    JONATHAN EZROW

		  		  		  		  	Name:	 	
		  		  		  		  	Title:	 	

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

											
		  		  		  	ROBERT MARTIN:
		  		  		  	 /S/    BOB L.
MARTIN

		  		  		  	ROBERT MARTIN
		  		  		  	  
 COMPANY:
  

		  		  		  		 	 SOLARWINDS.NET, INC.
  

		  		  		  		 	By:	 	 /S/    DAVID A. YONCE

		  		  		  		 	Name:	 	David A. Yonce
		  		  		  		 	Title:	 	President
		  		  		  	  
 SELLING STOCKHOLDERS:
  

		  		  		  		 	 SOLARWINDS MANAGEMENT, LLC
  

		  		  		  		 	By:	 	 /S/    DONALD C. YONCE

		  		  		  		 	Name:	 	Donald C. Yonce
		  		  		  		 	Title:	 	Sole Member
		  		  		  		 	  
 YONCE MANAGEMENT, LLC
  

		  		  		  		 	By:	 	 /S/    DAVID A. YONCE

		  		  		  		 	Name:	 	David A. Yonce
		  		  		  		 	Title:	 	Sole Member

 SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT 

 Schedule I 
 Holdings of Shares 
  

							
	 Stockholder
	  	Common Stock	  	Preferred Stock	  	Common Stock
Options
	 Bain Capital Venture Integral Investors, LLC
	  	2,337,934	  	2,337,934	  	
				
	 BCV Coinvest SW, LP
	  	   558,618	  	   558,618	  	
				
	 Insight Venture Partners V, LP
	  	1,071,258	  	1,071,258	  	
				
	 Insight Venture Partners (Cayman) V, LP
	  	   324,361	  	   324,361	  	
				
	 Insight Venture Partners V (Employee Co-Investors), LP
	  	     62,994	  	     62,994	  	
				
	 Insight Venture Partners V Coinvestment Fund, LP
	  	1,086,201	  	1,086,201	  	
				
	 Insight Venture Partners IV, LP
	  	   278,081	  	   278,081	  	
				
	 Insight Venture Partners IV (Fund B), LP
	  	       2,210	  	       2,210	  	
				
	 Insight Venture Partners (Cayman) IV, LP
	  	      37,177	  	      37,177	  	
				
	 Insight Venture Partners IV (Co-Investors), LP
	  	     34,270	  	     34,270	  	
				
	 SolarWinds Management, LLC
	  	2,606,896	  	2,606,896	  	
				
	 Yonce Management, LLC
	  	   289,656	  	   289,656	  	
				
	 Robert Martin
	  	     62,069	  	     62,069	  	
				
	 GoldenTree High Yield Value Master Fund, LP
	  	     11,255	  	     11,255	  	
				
	 GoldenTree Credit Opportunities Financing I, Ltd.
	  	     37,541	  	     37,541	  	
				
	 GoldenTree Credit Opportunities Financing II, Ltd.
	  	       6,864	  	       6,864	  	
				
	 GoldenTree MultiStrategy Financing, Ltd.
	  	     13,738	  	     13,738	  	
				
	 GoldenTree Capital Solutions Fund Financing
	  	     35,721	  	     35,721	  	
				
	 GoldenTree Capital Solutions Offshore Fund Financing
	  	     46,817	  	     46,817	  	
				
	 GoldenTree High Yield Master Fund, Ltd.
	  	     58,400	  	     58,400	  	
				
	 GoldenTree High Yield Master Fund II, Ltd.
	  	     37,083	  	     37,083	  	
				
	 Safety National Casual Corporation
	  	          857	  	          857	  	

 SOLARWINDS.NET, INC. 
 AMENDMENT NO. 1 TO THE 
 REGISTRATION RIGHTS AGREEMENT 
 THIS AMENDMENT NO. 1 TO THE REGISTRATION RIGHTS AGREEMENT (the “Amendment Agreement”) is made as of December 20, 2006
by and among SolarWinds.Net, Inc., an Oklahoma corporation (the “Company”), and the Investors. Capitalized terms used but not defined herein shall have the respective meanings assigned to them in that certain Registration
Rights Agreement dated on or about December 14, 2005 (the “Registration Rights Agreement”) by and among the Company, the Investors and the Other Holders. 
 RECITAL: 
 WHEREAS: In connection with the sale and purchase of shares of
the Company’s Common Stock and Preferred Stock to Austin Ventures IX, L.P. (the “Purchaser”) pursuant to the Stock Purchase Agreement dated on or about the date hereof (the “Purchase Agreement”)
by and among the Company, the Purchaser and the individuals and entities listed on Schedule A thereto, the Company and the Investors now desire to amend the Registration Rights Agreement to add the Purchaser as an “Investor” party
to the Registration Rights Agreement subject to the rights and obligations of a “Financial Investor” thereunder. 
 AGREEMENT:

 NOW, THEREFORE: The parties agree as follows: 
 1. Amendment to Section 6.2 of the Registration Rights Agreement. Pursuant to Section 5.2 of the Registration Rights Agreement, the Company and the undersigned Investors hereby amend Section 6.2
of the Registration Rights Agreement by deleting the definition of “Financial Investor” in its entirety and replacing it with the following: 
 ““Financial Investor” shall mean, as of any date, each GoldenTree Entity, Robert Martin, Austin Ventures IX, L.P. and their respective Permitted Transferees, in each case only if such Person is
then an Investor and holds any Shares.” 
 2. Consent to Addition of Purchaser as an Investor under the Registration Rights
Agreement. The Company and the undersigned Investors hereby consent to the addition of Purchaser as an “Investor” (subject to the rights and obligations of “Financial Investor”) party to the Registration Rights Agreement, as
amended by this Amendment Agreement, for all purposes thereunder. 
 3. Effectiveness. Pursuant to Section 5.2 of the
Registration Rights Agreement, this Amendment Agreement shall be effective upon execution of this Amendment Agreement by the Company and the Investors holding a majority of the Registrable Securities (as such term is defined in the Registration
Rights Agreement). 

 4. Governing Law. This Amendment Agreement shall be construed in accordance with, and governed in
all respects by, the laws of the State of New York, as applied to agreements entered into and to be performed entirely in such state, between residents of such state. 
 5. Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators
of the parties hereto. 
 6. Entire Agreement. The Registration Rights Agreement, as amended by this Amendment Agreement, constitutes
the full and entire understanding and agreement among the parties with regard to the subject matter thereof. 
 7. Severability. In
case any provision of this Amendment Agreement shall be held to be invalid, illegal or unenforceable, such provision shall be excluded from this Amendment Agreement, and the validity, legality and enforceability of the remaining provisions shall not
in any way be affected or impaired thereby. 
 8. Counterparts; Facsimile Signatures. This Amendment Agreement may be executed in any
number of counterparts, each of which shall be enforceable, and all of which together shall constitute one instrument. Signatures transmitted via facsimile shall be deemed originals for purposes of this Amendment Agreement. 
 [Signature page follows.] 
  

 2 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment Agreement as of the date first
written above. 
  

			
	“COMPANY”
	
	SolarWinds.Net, Inc.
		
	By:	 	 /S/    KEVIN THOMPSON

		 	Kevin Thompson,
		 	Chief Financial Officer

 SOLARWINDS.NET, INC. 

SIGNATURE PAGE TO AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT 

 IN WITNESS WHEREOF, the undersigned have executed this Amendment Agreement as of the date first
written above. 
  

			
	“INVESTORS”
	  
 Bain Capital Venture Integral Investors,
LLC

		
	By:	 	 /S/    J. BENJAMIN H. NYE

		
	Name:	 	 J. Benjamin H. Nye

		
	Title:	 	 Managing Director

	  
 BCV Co-Invest SW, LP
  

	By:	 	 /S/    J. BENJAMIN H. NYE

		
	Name:	 	 J. Benjamin H. Nye

		
	Title:	 	 Managing Director

 SOLARWINDS.NET, INC. 

SIGNATURE PAGE TO AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT 

			
	 Insight Venture Partners V, LP
  

	By:	 	 /S/    JEFF HORING

		
	Name:	 	 Jeff Horing

		
	Title:	 	 Managing Director

	  
 Insight Venture Partners (Cayman) V, LP
  

	By:	 	 /S/    JEFF HORING

		
	Name:	 	 Jeff Horing

		
	Title:	 	 Managing Director

	  
 Insight Venture Partners V (Employee Co-Investors),
LP
  

	 By:
	 	 /S/    JEFF HORING

		
	 Name:
	 	 Jeff Horing

		
	 Title:
	 	 Managing Director

	  
 Insight Venture Partners V Coinvestment Fund,
LP
  

	By:	 	 /S/    JEFF HORING

		
	Name:	 	 Jeff Horing

		
	Title:	 	 Managing Director

 SOLARWINDS.NET, INC. 

SIGNATURE PAGE TO AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT 

			
	Insight Venture Partners IV, LP
		
	By:	 	 /S/    JEFF HORING

		
	Name:	 	 Jeff Horing

		
	Title:	 	 Managing Director

	  
 Insight Venture Partners IV (Fund B), LP
  

	By:	 	 /S/    JEFF HORING

		
	Name:	 	 Jeff Horing

		
	Title:	 	 Managing Director

	  
 Insight Venture Partners (Cayman) IV, LP
  

	By:	 	 /S/    JEFF HORING

		
	Name:	 	 Jeff Horing

		
	Title:	 	 Managing Director

	  
 Insight Venture Partners IV (Co-Investors), LP
  

	By:	 	 /S/    JEFF HORING

		
	Name:	 	 Jeff Horing

		
	Title:	 	 Managing Director

 SOLARWINDS.NET, INC. 

SIGNATURE PAGE TO AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT 

			
	 Yonce Management, LLC
  

	By:	 	 /S/    DAVID YONCE

		
	Name:	 	 David Yonce

		
	Title:	 	 Manager

	  
 SolarWinds Management, LLC
  

	By:	 	 /S/    DON YONCE

		
	Name:	 	 Don Yonce

		
	Title:	 	 Manager

 SOLARWINDS.NET, INC. 

SIGNATURE PAGE TO AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT 

			
	  
 GoldenTree High Yield Value Master Fund, LP
  

	By:	 	 /S/    KAREN WEBER

		
	Name:	 	 Karen Weber

		
	Title:	 	 Director—Bank Debt

	  
 GoldenTree Credit Opportunities Financing I, Ltd.

 

	By:	 	 /S/    KAREN WEBER

		
	Name:	 	 Karen Weber

		
	Title:	 	 Director—Bank Debt

	  
 GoldenTree MultiStrategy Financing, Ltd.
  

	By:	 	 /S/    KAREN WEBER

		
	Name:	 	 Karen Weber

		
	Title:	 	 Director—Bank Debt

 SOLARWINDS.NET, INC. 

SIGNATURE PAGE TO AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT 

			
	  
 GoldenTree Capital Solutions Fund Financing
  

	By:	 	 /S/    KAREN WEBER

		
	Name:	 	 Karen Weber

		
	Title:	 	 Director—Bank Debt

	  
 GoldenTree Capital Solutions Offshore Fund Financing

  

	By:	 	 /S/    KAREN WEBER

		
	Name:	 	 Karen Weber

		
	Title:	 	 Director—Bank Debt

	  
 GoldenTree High Yield Master Fund, Ltd.
  

	By:	 	 /S/    KAREN WEBER

		
	Name:	 	 Karen Weber

		
	Title:	 	 Director—Bank Debt

	  
 GoldenTree High Yield Master Fund II, Ltd.
  

	By:	 	 /S/    KAREN WEBER

		
	Name:	 	 Karen Weber

		
	Title:	 	 Director—Bank Debt

 SOLARWINDS.NET, INC. 

SIGNATURE PAGE TO AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT 

	
	 /S/    BOB L. MARTIN

	Robert Martin

 SOLARWINDS.NET, INC. 

SIGNATURE PAGE TO AMENDMENT NO. 1 TO
REGISTRATION RIGHTS AGREEMENT 

 JOINDER AGREEMENT TO 
 REGISTRATION RIGHTS AGREEMENT 
 OF SOLARWINDS.NET, INC. 
 In connection with the consummation of the transactions pursuant to that certain Stock Purchase Agreement dated as of December 20, 2006 by and
among Austin Ventures IX, L.P., the Selling Stockholders (as defined therein) and SolarWinds.Net, Inc., an Oklahoma corporation (the “Company”), Austin Ventures IX, L.P. hereby executes and delivers that certain Registration
Rights Agreement dated on or about December 14, 2005, as amended (the “Registration Rights Agreement”), and a becomes a party thereto as an Investor in the capacity of a Financial Investor (each, as defined in the
Registration Rights Agreement). Purchaser acknowledges and agrees that it shall be bound by the restrictions and entitled to the benefits of an “Investor” in the capacity of a “Financial Investor” under the Registration Rights
Agreement. 
  

			
	Austin Ventures IX, L.P.
		
	By:	 	AV Partners IX, L.P.,
		 	its General Partner
		
	By:	 	/S/    KENNETH P.
DEANGELIS         
		
	Name:	 	Kenneth P. DeAngelis
		
	Title:	 	General Partner
		
	Dated:	 	11/20/06

  

			
	Agreed and acknowledged:
	
	SolarWinds.Net, Inc.
		
	By:	 	/S/    KEVIN THOMPSON
		 	Kevin Thompson,
		 	Chief Financial OfficerRedemption Agreement

 Exhibit 4.5 
 REDEMPTION AGREEMENT 
 This REDEMPTION AGREEMENT (this “Amendment”), is made and
entered into as of December 14, 2005 by and among SolarWinds.Net, Inc., an Oklahoma corporation (the “Company”), SolarWinds Management, LLC (“SWM LLC”), and Yonce Management, LLC (“Yonce LLC”
and SWM LLC, each a “Stockholder Party” and, together, the “Stockholder Parties”). 
 RECITALS 

WHEREAS, pursuant to that certain Stock Purchase Agreement, (the “Purchase Agreement”), dated as of the date hereof, by and the Bain
Entities (as defined therein), the Insight Entities (as defined therein, and, together with the Bain Entities, the “Purchasers”), the GoldenTree Entities (as defined therein), Robert Martin (“RM” and, together with
the Bain Entities, the Insight Entities and the GoldenTree Entities, the “Purchasers”), the Company, the Stockholder Parties and, solely for purposes of Article X of the Purchase Agreement, Donald C. Yonce and David A. Yonce,
the Stockholder Parties sold the Shares (as defined in the Purchase Agreement) to the Purchasers (the “Sale”); and 
 WHEREAS, immediately after the Sale, (i) as part of an integrated transaction with the Sale, and (ii) as a condition subsequent to the Sale, each of the Stockholder Parties desires that the Company redeem, and the Company desires
to so redeem on the terms set forth in this Agreement, (x) 5,886,071 shares of the Company’s common stock, $0.001 par value per share (“Common Stock”) and ) 5,886,071 shares of the Company’s participating preferred
stock, $0.001 par value per share (“Preferred Stock”) from SWM LLC (the “SWM LLC Shares”) and (y) 651,134 shares of Common Stock and 651,134 shares of Preferred Stock from Yonce LLC (the “Yonce LLC
Shares” and, together with the SWM LLC Shares, the “Redemption Shares”). 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties hereto agree as follows: 
 1. Definitions. For purposes of this Agreement, the following terms shall have the meanings specified in this Section 1: 

“Affiliate” means, with respect to any Person, any other Person that, directly or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, such Person, and the term “control” (including the terms “controlled by” and “under common control with”) means the possession, directly or indirectly, of
the power to direct or cause the direction of the management and policies of such Person, whether through ownership of voting securities, by contract or otherwise. 
 “Affiliated Fund” shall mean, with respect to any specified Person, an investment fund that is an Affiliate of such Person or that is advised by the same investment adviser as such Person or by an
Affiliate of such investment adviser. 

 “Amended Charter” means the Amended and Restated Certificate of Incorporation of the
Company. 
 “Bain Shares” means the shares of the Company’s capital stock purchased by the Bain Entities from the
Stockholder Parties pursuant to the Purchase Agreement. 
 “Business Day” means any day of the year on which national
banking institutions in New York are open to the public for conducting business and are not required or authorized to close. 
 “Charitably-Transferred Securities” means any Company Securities transferred by the Bain Entities or the Insight Entities pursuant to Section 4.1.2 of the Stockholders Agreement or to their respective Affiliated Funds.

 “Company Securities” means the Bain Shares and Insight Shares acquired pursuant to this Agreement and any securities into
which such Bain Shares and Insight Shares are subsequently exchanged or converted, whether by means of a recapitalization, exchange, merger, consolidation, reorganization or otherwise, and whether or not the Company is the survivor of any such
action. 
 “DAY Earn-Out Amount” means an amount equal to: (i) $0, if the Exit Factor is less than three (3);
(ii) $1,000,000 if the Exit Factor is greater than or equal to three (3), but less than four (4); or (iii) $2,000,000 if the Exit Factor is greater than or equal to four (4). 
 “DCY Earn-Out Amount” means an amount equal to: (i) $0, if the Exit Factor is less than three (3); (ii) $9,000,000 if the Exit
Factor is greater than or equal to three (3), but less than four (4); or (iii) $18,000,000 if the Exit Factor is greater than or equal to four (4). 
 “Exit Event” means the earlier to occur of (i) a Sale of the Corporation or (ii) a Qualified Public Offering. 
 “Exit Event Proceeds” means (x) in the event of a Sale of the Corporation, an amount equal to (i) the aggregate proceeds received by the Bain Entities and the Insight Entities with respect
to the Company Securities sold or otherwise disposed of in connection with the Sale of the Corporation, plus (ii) with respect to any Charitably-Transferred Securities sold or otherwise disposed of by the recipient, the aggregate proceeds
received by the holders of such Charitably- Transferred Securities, plus (iii) without duplication of clause (x)(ii) above, with respect to any Charitably-Transferred Securities not sold or otherwise disposed of, the fair market value of such
securities at the time of determination of the Exit Factor, based on the value as determined by the Sale of the Corporation and (y) in the event of a Qualified Public Offering, an amount equal to (i) an amount equal to the number of
Company Securities sold by the Bain Entities and the Insight Entities in the Qualified Public Offering multiplied by the closing price per Company Security sold in the Qualified Public Offering on the Lock-Up Expiration Date (the “Applicable
Price”) , plus (ii) with respect to any Charitably-Transferred Securities sold by the recipient in the Qualified Public Offering, an amount equal to the number of Company Securities sold by the holders of such Charitably-Transferred
Securities in the Qualified Public Offering multiplied by the Applicable Price, plus (iii) without duplication of clause (y)(ii) above, with respect to any Charitably-Transferred Securities not sold or otherwise disposed of, an amount equal to
the number of such Charitably-Transferred Securities multiplied by the Applicable Price. 
  

 -2- 

 “Exit Factor” means, with respect to any Exit Event, a fraction, the numerator of which
is equal to the Exit Event Proceeds, and the denominator of which is equal to the Exit Percentage multiplied by the Invested Capital. 
 “Exit Percentage” means a fraction, the numerator of which is the number of Company Securities sold by the Bain Entities and the Insight Entities in the Exit Event and the denominator of which is the total number of Company
Securities held by the Bain Entities and the Insight Entities prior to the Exit Event. For purposes of this calculation, the Bain Entities and the Insight Entities shall be deemed to own any Charitably-Transferred Securities. 
 “Invested Capital” means an amount equal to the aggregate of (i) the Bain Purchase Price (as defined in the Purchase Agreement) and
(ii) the Insight Purchase Price (as defined in the Purchase Agreement). 
 “Insight Shares” means the shares of the
Company’s capital stock purchased by the Insight Entities from the Stockholder Parties pursuant to the Purchase Agreement. 
 “Lien” means any lien, encumbrance, pledge, mortgage, deed of trust, security interest, claim, lease, charge, option, right of first refusal, easement, servitude or transfer restriction. 
 “Lock-Up Expiration Date” means the date that the Principal Lock-Up Agreements (as defined in the Stockholders Agreement) in a Qualified
Public Offering expire. 
 “Qualified Public Offering” has the meaning given to it in the Amended Charter as of the date
hereof. 
 “Person” means any individual, corporation, partnership, limited liability company, firm, joint venture,
association, joint-stock company, trust, unincorporated organization, governmental body or other entity. 
 “Sale of the
Corporation” has the meaning given to it in the Amended Charter as of the date hereof. 
 “Stockholders Agreement”
means that certain Stockholders Agreement, dated as of the date hereof, by and among the Company and certain stockholders of the Company set forth on the signature pages thereto. 
 “Subsidiary” means SolarWinds.Net, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company to be formed
immediately after the execution of this Agreement. 
 2. Redemption. Subject to the terms and conditions set forth in this Agreement,
each Stockholder Party hereby sells, assigns, transfers and delivers all its right, title and interest in and to the Redemption Shares to the Company free and clear of all Liens. The Company hereby redeems and accepts delivery of (i) the SWM
LLC Shares for (x) the SWM LLC Redemption Price (as 

  

 -3- 

 
defined below) and (y) the contingent DCY Earn-Out Amount, and (ii) the Yonce LLC Shares for (x) the Yonce LLC Redemption Price (as defined
below) and (y) the contingent DAY Earn-Out Amount, each payable on the terms and conditions set forth herein. Upon such redemption, the Redemption Shares shall be deemed cancelled and retired for all purposes and shall not be reissued.

 3. Payment of Redemption Price. The Company hereby redeems (i) the SWM LLC Shares for $94,509,443.10 in the aggregate (the
“SWM LLC Redemption Price”), and (ii) the Yonce LLC Shares for $10,490,550.10 in the aggregate (the “Yonce LLC Redemption Price” and, together with the SWM LLC Redemption Price, the “Redemption
Price”), which is inclusive of any and all accrued and unpaid dividends or accretion thereon. Each Stockholder Party hereby acknowledges and agrees that, except as set forth herein, receipt of the Redemption Price shall constitute complete
satisfaction of all obligations or any other sums due to such Stockholder Party with respect to redemption of the Redemption Shares. 
 4.
Payment of the Earn-Out. Upon the occurrence of an Exit Event, the Company shall pay (i) the DAY Earn-Out Amount to DAY and (ii) the DCY Earn-Out Amount to DCY. In the event of a Sale of the Corporation, the DAY Earn-Out Amount and
the DCY Earn-Out Amount shall be payable on, or as soon as practicable following, the date of consummation of the Sale of the Corporation, but in no event more than ten (10) Business Days following the date of consummation of the Sale of the
Corporation. In the event of a Qualified Public Offering, the DAY Earn-Out Amount and the DCY Earn-Out Amount shall be payable three (3) Business Days following the Lock-up Expiration Date. DAY and DCY acknowledge and agree that in managing the
Company and the Subsidiary after the Closing, the Company’s board of directors and the Purchasers shall manage the Company and the Subsidiary in accordance with their reasonable judgment and shall not have any obligation to operate the Company
and the Subsidiary with a view to maximizing the DAY Earn-Out Amount and the DCY Earn-Out Amount. 
 5. Closing. The closing of the
redemption provided for herein (the “Closing”) shall take place at the offices of Willkie Farr & Gallagher LLP located at 787 Seventh Avenue, New York, New York 10019 (or at such other place upon which the parties hereto
may mutually agree). At the Closing, the following shall occur: 
 a. Stockholder Party Deliveries. Each Stockholder
Party shall deliver to the Company one or more stock certificates representing the Redemption Shares owned by such Stockholder Party and all other documents and instruments reasonably necessary for the transfer of the Redemption Shares to the
Company, including an appropriate stock power, duly endorsed in blank. 
 b. Company Deliveries. The Company shall
deliver to each Stockholder Party the applicable Redemption Price by wire transfer of immediately available funds. 
 6. Representations
and Warranties of the Stockholder Parties. Each Stockholder Party, severally, but not jointly, represents and warrants to the Company as follows. 
 a. Title to Shares. As of the date hereof, such Stockholder Party owns good and marketable title to the Redemption Shares and such Redemption Shares are free and clear of all 

  

 -4- 

 
Liens. There is no subscription, option, warrant, call, night, agreement or commitment relating to the issuance, sale, delivery, repurchase or transfer by
such Stockholder Party (including any right of conversion or exchange under any outstanding security or other instrument) of such Redemption Shares. Such Stockholder Party is not party to and is not aware of any voting trusts, proxies or any other
agreements or understandings to which it or any of its affiliates is a party, with respect to the voting of the Redemption Shares. 
 b. Authority; Binding Effect. Such Stockholder Party is an entity validly existing and in good standing under the laws of its respective jurisdiction of organization and has all requisite power and authority and has taken all
necessary action required for the due authorization, execution, delivery and performance by such Stockholder Party of this Agreement and any other agreements or instruments executed by such Stockholder Party in connection herewith and the
consummation of the transactions contemplated herein or therein. This Agreement and the other agreements and instruments executed by such Stockholder Party in connection herewith will each be a legal, valid and binding obligation of such Stockholder
Party, enforceable against such Stockholder Party in accordance with its respective terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium or other similar laws relating to or
affecting enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless of whether enforcement is considered in a proceeding in equity or at law). 
 c. No Violation. Neither the execution and delivery of this Agreement by such Stockholder Party, nor the redemption of the
Redemption Shares owned by such Stockholder Party pursuant to this Agreement, will (i) result in a default (or give rise to any right of termination, cancellation or acceleration) under any of the terms, conditions or provisions of any material
agreement, lease or other instrument or obligation to which such Stockholder Party is a party, except for such defaults (or rights of termination, cancellation or acceleration) as to which requisite waivers or consents have been obtained and are in
full force and effect or which would not impair such Stockholder Party’s ability to consummate the transactions contemplated by this Agreement, or (ii) violate any order, writ, injunction or decree applicable to such Stockholder Party or
any of such Stockholder Party’s material assets. 
 d. Governmental Authorization; Third Party Consent. No
approval, consent, compliance, exemption, authorization, or other action by or notice to, or filing with, any governmental authority or any other person in respect of any requirements of law is necessary or required by such Stockholder Party in
connection with the execution, delivery or performance by such Stockholder Party of this Agreement, except for such approval, consent, compliance, exemption, authorization, or other action which, if not obtained or made, would not reasonably be
likely to prevent or materially delay such. Stockholder Party from performing its obligations under this Agreement in all material respects, 
 7. Representations and Warranties of .the Company. The Company represents and warrants to the Stockholder Parties that: 
 a. Authority; Binding Effect. The Company is a corporation validly existing and in good standing under the laws of the State of Oklahoma and has all requisite power and authority 

  

 -5- 

 
and has taken all necessary action required for the due authorization, execution, delivery and performance by the Company of this Agreement and any other
agreements or instruments executed by the Company in connection herewith and the consummation of the transactions contemplated herein or therein. This Agreement and the other agreements and instruments executed by the Company in connection herewith
will each be a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its respective terms, except as enforcement thereof may be limited by bankruptcy, insolvency, reorganization, fraudulent
conveyance, moratorium or other similar laws relating to or affecting enforcement of creditors’ rights generally and except as enforcement thereof is subject to general principles of equity (regardless of whether enforcement is considered in a
proceeding in equity or at law). 
 b. No Violation. Neither the execution and delivery of this Agreement by the
Company, nor the redemption of the Redemption Shares owned by the Stockholder Parties pursuant to this Agreement, will (i) result in a default (or give rise to any right of termination, cancellation or acceleration) under any of the terms,
conditions or provisions of any material agreement, lease or other instrument or obligation to which the Company is a party, except for such defaults (or rights of termination, cancellation or acceleration) as to which requisite waivers or consents
have been obtained and are in full force and effect or which would not impair the Company’s ability to consummate the transactions contemplated by this Agreement, or (ii) violate any order, writ, injunction or decree applicable to the
Company or any of the Company’s material assets. 
 c. Governmental Authorization: Third Party Consent. No
approval, consent, compliance, exemption, authorization, or other action by or notice to, or filing with, any governmental authority or any other person in respect of any requirements of law is necessary or required by the Company in connection with
the execution, delivery or performance by the Company of this Agreement, except for such approval, consent, compliance, exemption, authorization, or other action which, if not obtained or made, would not reasonably be likely to prevent or materially
delay the Company from performing its obligations under this Agreement in all material respects. 
 d. Disclosure. The
Company is not aware of any material non-public information that has not been disclosed or made available to each Stockholder Party that would be reasonably necessary for such Stockholder Party to make an informed investment decision regarding the
sale to the Company of the Redemption Shares. The Company is not aware of any claims or any basis for any claims by the Stockholder Parties against the Company relating to the Common Stock held by the Stockholder Parties outside the express terms of
the Amended Charter, governing the terms of the Common Stock. 
 8. Miscellaneous. 
 a. Amendments and Waivers. Amendments or modifications to this Agreement may only be made, and compliance with any term, covenant,
agreement, condition or provision set forth herein may only be omitted or waived (either generally or in a particular instance and either retroactively or prospectively), upon the written consent of each Stockholder Party and the Company. This
Agreement (including the Schedules annexed hereto, which are an integral part of this Agreement) constitutes the full and complete agreement of the parties with respect to the subject matter hereof. 
  

 -6- 

 b. Assignment and Binding Effect. None of the parties hereto may assign any of its
rights or delegate any of its duties under this Agreement without the prior written consent of the other parties hereto All of the terms and provisions of this Agreement shall be binding on, and shall inure to the benefit of, the respective legal
successors and permitted assigns of the parties. Purchasers shall be third party beneficiaries of the Company’s rights hereunder and shall have the right to enforce any of the Company’s rights hereunder to the extent that the Company fails
to protect such rights. 
 c. No Further Ownership Interest. From and after the Closing, the Stockholder Parties shall
have no further right, title to or interest in the Redemption Shares or any dividends, distributions, equity interests or other rights in respect thereof. 
 d. Notices. All notices, requests, consents, reports and demands shall be in writing, shall be deemed effectively given upon receipt and shall be hand delivered, sent by facsimile (with electronic confirmation)
or other electronic medium, or mailed, postage prepaid, to the parties at the addresses set forth below or to such other address as may be furnished in writing to the other parties hereto: 
 If to the Company: 
 c/o SolarWinds.Net, Inc.

 8221 East 63rd Place 
 Tulsa,
Oklahoma 74133 
 Facsimile: (918) 307-8080 
 Attention: President 
 If to any Stockholder Party: 
 Donald C. Yonce 
 ____________________

 ____________________ 
 With
copies (which shall not constitute notice) to: 
 Weil, Gotshal & Manges LLP 
 200 Crescent Court, Suite 300 
 Dallas, Texas
75201-6950 
 Facsimile: (214) 746-7777 
 Attention: Mary R. Korby, Esq. 
  

 -7- 

 Morrel, West, Saffa, Craige & Hicks, Inc. 
 3501 South Yale Avenue 
 Tulsa, Oklahoma 74135

 Facsimile: (918) 663-1383 
 Attention: Reece B. Morrel, Esq. 
 e. Titles and Headings. The section headings herein are for convenience
only and shall not affect the construction hereof. 
 f. Execution in Counterparts. This Agreement may be executed in
one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. 
 g. Application Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of
Oklahoma without regard to the principles of conflicts of laws thereof. 
 h. Severability. In the event that one or
more provisions of this Agreement shall be deemed or held to be invalid, illegal or unenforceable in any respect under any applicable law, this Agreement shall be construed with the invalid, illegal or unenforceable provision deleted, and the
validity, legality and enforceability of the remaining provisions contained herein shall not be affected or impaired thereby. 
 i. Further Assurances. From time to time, as and when requested by either party, the other party will execute and deliver, or cause to be executed and delivered, all such documents and instruments as may be reasonably necessary to
consummate the transactions contemplated by this Agreement. 
 J. Tax Matters. The Company will report the redemption
for income tax purposes as a payment in exchange for stock under Section 302(a) of the Internal Revenue Code of 1986, as amended. 
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 
  

 -8- 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first
written above. 
  

							
	COMPANY:
		
		 	SOLARWINDS.NET, INC.
			
		 	By:	 	/S/    DAVID A. YONCE
		 		 	Name:	 	David A. Yonce
		 		 	Title:	 	President
	
	STOCKHOLDER PARTIES:
		
		 	SOLARWINDS MANAGEMENT, LLC
			
		 	By:	 	/S/    DON YONCE
		 		 	Name:	 	Donald C. Yonce
		 		 	Title:	 	Sole Member
		
		 	YONCE MANAGEMENT, LLC
			
		 	By:	 	/S/    DAVID A. YONCE
		 		 	Name:	 	David A. Yonce
		 		 	Title:	 	Sole Member

 SIGNATURE PAGE TO REDEMPTION AGREEMENT 

 AMENDMENT NO. 1 TO REDEMPTION AGREEMENT 
 This Amendment No. 1 to Redemption Agreement (this “Amendment”) is made as of December 20, 2006 by and among
SolarWinds.Net, Inc., an Oklahoma corporation (the “Company”), SolarWinds Management, LLC (“SWM LLC”) and Yonce Management, LLC (“Yonce LLC”). Capitalized terms used but not
defined herein shall have the respective meanings assigned to them in that certain Redemption Agreement dated as of December 14, 2005 (the “Redemption Agreement”) by and among the Company, SWM LLC and Yonce LLC.

 RECITALS: 
 WHEREAS: The Company, SWM LLC and Yonce LLC are parties to the Redemption Agreement pursuant to which, among other things, the Company has agreed to pay the DAY Earn-Out Amount and the DCY Earn-Out Amount upon the occurrence of the
conditions set forth therein; 
 WHEREAS: In connection with the sale of shares of the Company’s Common Stock and Preferred Stock
by certain stockholders (including, without limitation, the Bain Entities and the Insight Entities) to Austin Ventures, IX, LLP, the Company, SWM LLC and Yonce LLC desire to amend the Redemption Agreement as provided herein; and 
 WHEREAS: Pursuant to Section 8(a) thereof, the Redemption Agreement may only be amended with the written consent of the Company and each
Stockholder Party. 
 AGREEMENT: 
 NOW, THEREFORE: For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Amendment of Definition of Company Securities. The definition of Company Securities set forth in Section 1 of the Redemption Agreement is hereby amended and restated in its entirety to read as follows:

 “Company Securities” means the Bain Shares and Insight Shares acquired pursuant to the Purchase Agreement and any
securities into which such Bain Shares and Insight Shares are subsequently exchanged or converted, whether by means of a recapitalization, exchange, merger, consolidation, reorganization or otherwise, and whether or not the Company is the survivor
of any such action. 
 2. Amendment of Definition of Invested Capital. The definition of Invested Capital set forth in Section 1
of the Redemption Agreement is hereby amended and restated in its entirety to read as follows: 
 “Invested Capital” means
the product of (x) the total number of Company Securities held by the Bain Entities and the Insight Entities prior to the Exit Event and (y) $8.0556 (as adjusted for any stock splits, stock dividends, recapitalizations and the like).

 3. Miscellaneous. Except as set forth herein, the Redemption Agreement shall continue in full
force and effect. All terms and provisions of this Amendment shall be binding on, and shall inure to the benefit of, the respective legal successors and permitted assigns of the parties. This Amendment may be executed in counterparts, each of which
shall be deemed an original and all of which together shall constitute one and the same instrument. This Amendment shall be governed by and construed in accordance with the laws of the State of Oklahoma without regard to the principles of conflicts
of laws thereof. 
 [Remainder of this page intentionally blank.] 
  

 -2- 

 IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.

  

					
	SOLARWINDS.NET, INC.
		
	By:	 	/S/    KEVIN THOMPSON
		 	Kevin Thompson,
		 	Chief Financial Officer
	
	SOLARWINDS MANAGEMENT, LLC
		
	By:	 	/S/    DON YONCE
		 	Donald C. Yonce,
		 	Sole Member
	
	YONCE MANAGEMENT, LLC
		
	By:	 	/S/    DAVID A. YONCE
		 	David A. Yonce,
		 	Sole Member

  

 -3-

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