Question : Problem: How to combine surge protector and UPS to protect server from surge?

I like to protect a few servers in my network. I found a surge protector M4T-EX (called SP) from Panamax  which comes with 4 power outlets and 2 LAN ports (one goes in and the other comes out). They have warranty of up to $5,000,000 for this product. But they want the computer to be fully behind the M4T-EX to be qualified for this warranty. It looks like the following:
    |---------|SP|---------Ethernet
server --- |SP| ----- wall power

When a surge comes, SP will clamp both the power and signal. But the server will also shut down instantly in case of surge.

To prevent my server from shutting down unexpectedly, I plan to connect this way:
server -- UPS --SP -- wall power.

In case of surge existence, my server can run from the UPS. But there is one dilemma left here. How should I network my server? If I connect my server through M4T_ex, the server seems to be better protected but I also see network service disruption during the surge. If the server bypass the M4T_ex and connect to my network directly, it can continue to service the network if it is not fried by the possible surge from the Ethernet network. But this configuration voids its warranty from the surge protector.

Q#1. Is it common that the surge will come from the Ethernet network?
Q#2. What would you do in my situation?
Q#3. Any other way to protect the server from possible surge via Ethernet and power without sacrificing service unnecessarily?
Q#4. SP1, SP2 stand for surge protector. UPS is not online version (not converting from battery to AC).
If I connect the server like the following:
    |---------| |---------Ethernet
server -- SP2 -- UPS -- SP1 -- wall power
In case of surge existence and SP1 clamps its power, will the surge also trigger SP2 to clamp its signal and power too? If not, SP2 can protect the server in case of significant surge coming from the Ethernet network.
Does such configuration make any sense?

Thanks.

Answer : Problem: How to combine surge protector and UPS to protect server from surge?

Any UPS worth the money you payed for it will act as a perfectly fine surge protector.  I don't really see a need for your computer to be behind both.

As for surges from Ethernet, as long as all of your switches are protected you should be fine.

Q1: Rare (Unless you happen to have BIG bundles of copper burried underground)
Q2: Throw away the surge protectors and get a real UPS if needed.
Q3: You could have the ethernet connection go through a switch... that way the switch gets toasted not the server.
Q4: If you still want to use your power strips do  Server --- SP --- UPS --- Wall
with ethernet: Server ---- SP ---- Wall.