Template:FAQ:Applications 20
From Net-SNMP Wiki
Starting from the v5 release, the trap handling daemon has implemented the notification logging aspects of the NOTIFICATION-MIB (RFC 3014). This is handled by the trap handler daemon registering as an AgentX subagent, to supply this statistical information.
If there is no AgentX master agent available, this registration fails, generating the warning about "failed to connect to the agentx master". This warning only appears between version 5.0 and 5.0.4 (in 5.0.4 and after the warning was silenced). This failure does not affect the main operation of the trap handler. It simply means that the nsmLog information won't be available for query via SNMP.
Basically, this is a warning that can safely be ignored.