Document:

Exhibit 4.6

 

DESCRIPTION OF THE REGISTRANT’S SECURITIES

 

REGISTERED PURSUANT TO SECTION 12 OF THE

 

SECURITIES EXCHANGE ACT OF 1934

 

The following summary of the general terms
and provisions of the registered capital stock of 908 Devices Inc. (“908 Devices”, “we”, “our” or
 “us”) does not purport to be complete and is subject to, and qualified in its entirety by, reference to our Sixth Amended
and Restated Certificate of Incorporation, or certificate of incorporation, our Amended and Restated By-laws, or by-laws, each of which
is incorporated by reference as an exhibit to this Annual Report on Form 10-K filed with the Securities and Exchange Commission,
and applicable provisions of the Delaware General Corporation Law, or the DGCL. Our common stock, par value $0.001 per share is registered
pursuant to Section 12(b) of the Securities and Exchange Act of 1934 and trades on the Nasdaq Global Market under the symbol
MASS. The summaries below do not purport to be complete statements of the relevant provisions of the certificate of incorporation, the
bylaws or the DGCL.

 

General

 

Our authorized capital stock consists of 100,000,000
shares of common stock, par value $0.001 per share, and 5,000,000 shares of undesignated preferred stock, par value $0.001 per share.

 

Common Stock

 

The holders of our common stock are entitled to
one vote for each share held on all matters submitted to a vote of the stockholders. The holders of our common stock do not have any cumulative
voting rights. Holders of our common stock are entitled to receive ratably any dividends declared by our board of directors out of funds
legally available for that purpose, subject to any preferential dividend rights of any outstanding preferred stock. Our common stock has
no preemptive rights, conversion rights or other subscription rights or redemption or sinking fund provisions.

 

In the event of our liquidation, dissolution or
winding up, holders of our common stock will be entitled to share ratably in all assets remaining after payment of all debts and other
liabilities and any liquidation preference of any outstanding redeemable convertible preferred stock.

 

Our common stock is listed on the Nasdaq Global
Market under the trading symbol “MASS.”

 

The transfer agent and registrar for our common
stock is Computershare Trust Company, N.A.

 

Preferred Stock

 

Our board of directors has the authority, without
further action by our stockholders, to issue up to 5,000,000 shares of preferred stock in one or more series and to fix the rights, preferences,
privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting
rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting, or the designation of,
such series, any or all of which may be greater than the rights of common stock. The issuance of our preferred stock could adversely affect
the voting power of holders of common stock and the likelihood that such holders will receive dividend payments and payments upon our
liquidation. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change in control
of our company or other corporate action.

 

Registration Rights

 

Certain holders of common stock are entitled to
rights with respect to the registration of these registrable securities under the Securities Act. These rights are provided under the
terms of an investors’ rights agreement between us and holders of our redeemable convertible preferred stock. The fourth amended
and restated registration rights agreement includes demand registration rights, short-form registration rights and piggyback registration
rights. All fees, costs and expenses of underwritten registrations under this agreement will be borne by us and all selling expenses,
including underwriting discounts and selling commissions, will be borne by the holders of the shares being registered.

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Demand Registration Rights

 

Beginning 180 days after the effective date of
the registration statement for our initial public offering, or our IPO, the holders of registrable securities will be entitled to demand
registration rights under certain conditions. Under the terms of the fourth amended and restated registration rights agreement, we will
be required, upon the written request of holders of a majority of these registrable securities to file a registration statement and use
best efforts to effect the registration of all or a portion of these registrable securities for public resale. We are required to effect
only two registrations pursuant to this provision of the investors’ rights agreement.

 

Short-form Registration Rights

 

Pursuant to the fourth amended and restated registration
rights agreement, if we are eligible to file a registration statement on Form S-3, upon the written request of holders of these registrable
securities that would result in an aggregate offering price of at least $500,000, we will be required to effect a registration of such
registrable securities. We are required to effect only two registrations in any twelve month period pursuant to this provision of the
investors’ rights agreement. The right to have such shares registered on Form S-3 is further subject to other specified conditions
and limitations.

 

Piggyback Registration Rights

 

Pursuant to the investors’ rights agreement,
if we register any of our securities either for our own account or for the account of other security holders, subject to certain exceptions,
the holders of these shares are entitled to include their shares in the registration. Subject to certain exceptions contained in the investors’
rights agreement, we and the underwriters may limit the number of shares included in the underwritten offering to the number of shares
which we and the underwriters determine in our sole discretion will not jeopardize the success of the offering.

 

Indemnification

 

Our fourth amended and restated registration rights
agreement contains customary cross-indemnification provisions, under which we are obligated to indemnify holders of registrable securities
in the event of material misstatements or omissions in the registration statement attributable to us, and they are obligated to indemnify
us for material misstatements or omissions attributable to them.

 

Expiration of Registration Rights

 

The demand registration rights and short form
registration rights granted to any holder of registrable securities under the investors’ rights agreement will terminate upon the
earliest to occur of (i) a deemed liquidation event (as defined in our certificate of incorporation), (ii) the fifth anniversary
of the completion of our IPO or (iii) such time after our IPO when the holders’ shares may be sold without restriction pursuant
to Rule 144 within a three month period.

 

Anti-Takeover Effects of our Sixth Amended and Restated Certificate
of Incorporation and Amended and Restated By-Laws and Delaware Law

 

Our sixth amended and restated certificate of
incorporation and amended and restated by-laws include a number of provisions that may have the effect of delaying, deferring or preventing
another party from acquiring control of us and encouraging persons considering unsolicited tender offers or other unilateral takeover
proposals to negotiate with our board of directors rather than pursue non-negotiated takeover attempts. These provisions include the items
described below.

 

Board Composition and Filling Vacancies

 

Our sixth amended and restated certificate of
incorporation provides for the division of our board of directors into three classes serving staggered three-year terms, with one class
being elected each year. Our sixth amended and restated certificate of incorporation also provides that directors may be removed only
for cause and then only by the affirmative vote of the holders of two-thirds or more of the shares then entitled to vote at an election
of directors. Furthermore, any vacancy on our board of directors, however occurring, including a vacancy resulting from an increase in
the size of our board, may only be filled by the affirmative vote of a majority of our directors then in office even if less than a quorum.
The classification of directors, together with the limitations on removal of directors and treatment of vacancies, has the effect of making
it more difficult for stockholders to change the composition of our board of directors.

 

No Written Consent of Stockholders

 

Our sixth amended and restated certificate of
incorporation provides that all stockholder actions are required to be taken by a vote of the stockholders at an annual or special meeting,
and that stockholders may not take any action by written consent in lieu of a meeting. This limit may lengthen the amount of time required
to take stockholder actions and would prevent the amendment of our amended and restated by-laws or removal of directors by our stockholders
without holding a meeting of stockholders.

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Meetings of Stockholders

 

Our sixth amended and restated certificate of
incorporation and amended and restated by-laws provide that only a majority of the members of our board of directors then in office may
call special meetings of stockholders and only those matters set forth in the notice of the special meeting may be considered or acted
upon at a special meeting of stockholders. Our amended and restated by-laws limit the business that may be conducted at an annual meeting
of stockholders to those matters properly brought before the meeting.

 

Advance Notice Requirements

 

Our amended and restated by-laws establish advance
notice procedures with regard to stockholder proposals relating to the nomination of candidates for election as directors or new business
to be brought before meetings of our stockholders. These procedures provide that notice of stockholder proposals must be timely given
in writing to our corporate secretary prior to the meeting at which the action is to be taken. Generally, to be timely, notice must be
received at our principal executive offices not less than 90 days nor more than 120 days prior to the first anniversary date of the annual
meeting for the preceding year. Our by-laws specify the requirements as to form and content of all stockholders’ notices. These
requirements may preclude stockholders from bringing matters before the stockholders at an annual or special meeting.

 

Amendment to our Sixth Amended and Restated Certificate of Incorporation
and Amended and Restated By-Laws

 

Any amendment of our sixth amended and restated
certificate of incorporation must first be approved by a majority of our board of directors, and if required by law or our sixth amended
and restated certificate of incorporation, must thereafter be approved by a majority of the outstanding shares entitled to vote on the
amendment and a majority of the outstanding shares of each class entitled to vote thereon as a class, except that the amendment of the
provisions relating to stockholder action, board composition, limitation of liability and the amendment of our by-laws and certificate
of incorporation must be approved by not less than two-thirds of the outstanding shares entitled to vote on the amendment, and not less
than two-thirds of the outstanding shares of each class entitled to vote thereon as a class. Our amended and restated by-laws may be amended
by the affirmative vote of a majority of the directors then in office, subject to any limitations set forth in the amended and restated
by-laws, and may also be amended by the affirmative vote of at least two-thirds of the outstanding shares entitled to vote on the amendment,
or, if our board of directors recommends that the stockholders approve the amendment, by the affirmative vote of the majority of the outstanding
shares entitled to vote on the amendment, in each case voting together as a single class.

 

Undesignated Preferred Stock

 

Our sixth amended and restated certificate of
incorporation provides for 5,000,000 authorized shares of preferred stock. The existence of authorized but unissued shares of preferred
stock may enable our board of directors to discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest
or otherwise. For example, if in the due exercise of its fiduciary obligations, our board of directors were to determine that a takeover
proposal is not in the best interests of our stockholders, our board of directors could cause shares of preferred stock to be issued without
stockholder approval in one or more private offerings or other transactions that might dilute the voting or other rights of the proposed
acquirer or insurgent stockholder or stockholder group. In this regard, our sixth amended and restated certificate of incorporation grants
our board of directors broad power to establish the rights and preferences of authorized and unissued shares of preferred stock. The issuance
of shares of preferred stock could decrease the amount of earnings and assets available for distribution to holders of shares of common
stock. The issuance may also adversely affect the rights and powers, including voting rights, of these holders and may have the effect
of delaying, deterring or preventing a change in control of us.

 

Choice of Forum

 

Our amended and restated by-laws provide that,
unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the sole
and exclusive forum for: (1) any derivative action or proceeding brought on our behalf; (2) any action asserting a claim of
breach of a fiduciary duty or other wrongdoing by any of our directors, officers, employees or agents to us or our stockholders; (3) any
action asserting a claim against us arising pursuant to any provision of the General Corporation Law of the State of Delaware or our certificate
of incorporation or by-laws; (4) any action to interpret, apply, enforce or determine the validity of our certificate of incorporation
or by-laws; or (5) any action asserting a claim governed by the internal affairs doctrine; provided, however, that the this provision
shall not apply to any causes of action arising under the Securities Act or Exchange Act.

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In addition, our amended and restated by-laws
contain a provision by virtue of which, unless we consent in writing to the selection of an alternative forum, the United States District
Court for the District of Massachusetts will be the exclusive forum for any private action asserting violations by us or any of our directors
or officers of the Securities Act, or the rules and regulations promulgated thereunder, and of all suits in equity and actions at
law brought to enforce any liability or duty created by those statutes or the rules and regulations under such statutes. If any action
the subject matter of which is within the scope of the preceding sentence is filed in a court other than the United States District Court
for the District of Massachusetts, the plaintiff or plaintiffs shall be deemed by this provision of our amended and restated by-laws (i) to
have consented to removal of the action by us to the United States District Court for the District of Massachusetts, in the case of an
action filed in a state court, and (ii) to have consented to transfer of the action to the United States District Court for the District
of Massachusetts.

 

Our amended and restated by-laws also provide
that any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock will be deemed to have notice
of and to have consented to this choice of forum provision. It is possible that a court of law could rule that the choice of forum
provisions contained in our amended and restated by-laws are inapplicable or unenforceable if they are challenged in a proceeding or otherwise.
The enforceability of similar choice of forum provisions in other companies’ certificates of incorporation and by-laws has been
challenged in legal proceedings.

 

These forum provisions may impose additional costs
on stockholders, may limit our stockholders’ ability to bring a claim in a forum they find favorable, and the designated courts
may reach different judgments or results than other courts. In addition, there is uncertainty as to whether the federal forum provision
for Securities Act claims will be enforced, which may impose additional costs on us and our stockholders.

 

Section 203 of the Delaware General Corporation Law

 

We are subject to the provisions of Section 203
of the Delaware General Corporation Law. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in
a “business combination” with an “interested stockholder” for a three-year period following the time that this
stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. Under Section 203,
a business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:

 

		•	before the stockholder became interested, our board of directors approved either the business combination or the transaction which
resulted in the stockholder becoming an interested stockholder;

		•	upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder
owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of
determining the voting stock outstanding, shares owned by persons who are directors and also officers, and employee stock plans, in some
instances, but not the outstanding voting stock owned by the interested stockholder; or

		•	at or after the time the stockholder became interested, the business combination was approved by our board of directors and authorized
at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which
is not owned by the interested stockholder.

 

Section 203 defines a business combination
to include:

 

		•	any merger or consolidation involving the corporation and the interested stockholder;

		•	any sale, transfer, lease, pledge or other disposition involving the interested stockholder of 10% or more of the assets of the corporation;

		•	subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation
to the interested stockholder;

		•	subject to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the
stock of any class or series of the corporation beneficially owned by the interested stockholder; and

		•	the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided
by or through the corporation.

 

In general, Section 203 defines an interested
stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity
or person affiliated with or controlling or controlled by the entity or person.

    4Exhibit 10.5

 

Non-Employee
Director Compensation Policy

 

The purpose of this Non-Employee Director Compensation
Policy (the “Policy”) of 908 Devices Inc. (the “Company”) is to provide a total compensation package that enables
the Company to attract and retain, on a long-term basis, high-caliber directors who are not employees or officers of the Company or its
subsidiaries (“non-employee directors”). In furtherance of the purpose stated above, all non-employee directors shall be paid
compensation for services provided to the Company as set forth below:

 

Cash Retainers

 

Annual Retainer for Board Membership: $37,500
for general availability and participation in meetings and conference calls of our Board of Directors, to be paid quarterly in arrears,
pro-rated based on the number of actual days served by the director during such calendar quarter. No additional compensation will be paid
for attending individual meetings of the Board of Directors.

 

	Additional Annual Retainer
    for Non-Executive Chair:	 	$	25,000	 
	 	 	 	 	 
	Additional Annual Retainers for Committee
    Membership:	 	 	 	 
	 	 	 	 	 
	Audit Committee Chair:	 	$	18,000	 
	 	 	 	 	 
	Audit Committee member:	 	$	9,000	 
	 	 	 	 	 
	Compensation Committee Chair:	 	$	12,000	 
	 	 	 	 	 
	Compensation Committee member:	 	$	6,000	 
	 	 	 	 	 
	Nominating and Corporate Governance Committee Chair:	 	$	10,000	 
	 	 	 	 	 
	Nominating and Corporate Governance Committee member:	 	$	5,000	 

 

Chair and committee member retainers are in addition
to retainers for members of the Board of Directors. No additional compensation will be paid for attending individual committee meetings
of the Board of Directors.

 

Equity Retainers

 

Initial Award: An initial, one-time equity
award (the “Initial Award”), representing $175,000 of value on the grant date, will be granted to each new non-employee director
upon his or her election to the Board of Directors, with 50% of the value allocated to Restricted Stock Unit awards (“RSUs”),
and 50% of the value allocated to Non-Qualified Stock Option awards (“NQSOs”).

 

The number of RSUs issued shall be calculated
by dividing $87,500 by the closing market price on the NASDAQ Global Market (or such other market on which the Company’s common
stock is then principally listed) of a share of the Company’s common stock on the effective date of grant, and rounding up to the
next whole number of shares.

 

The number of NQSOs granted shall be calculated
by dividing $87,500 by the fair value calculated under ASC Topic 718 (i.e., Black-Scholes Value) of an option to purchase a share of the
Company’s common stock on the effective date of grant, and rounding up to the next whole number of shares. The NQSOs subject to
the Initial Award shall expire ten years from the date of grant and the exercise price per share of such NQSOs shall be the closing market
price on the NASDAQ Global Market (or such other market on which the Company’s common stock is then principally listed) of a share
of the Company’s common stock on the effective date of grant.

 

The RSUs shall vest annually over three (3) years
from the director commencement date, with pro rata vesting upon termination of service for any reason, and the NQSOs shall vest monthly
over three (3) years from the director commencement date.

 

Annual Award: On or about the date of each
Annual Meeting of Stockholders of the Company (the “Annual Meeting”), each continuing non-employee director, other than a
director who joined the Board of Directors and received an Initial Award within 90 days of such Annual Meeting, will receive an annual
equity award (the “Annual Award”), representing $115,000 of value on the grant date, with 50% of the value allocated to RSUs,
and 50% of the value allocated to NQSOs.

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The number of RSUs issued shall be calculated
by dividing $57,500 by the closing market price on the NASDAQ Global Market (or such other market on which the Company’s common
stock is then principally listed) of a share of the Company’s common stock on the effective date of grant, and rounding up to the
next whole number of shares.

 

The number of NQSOs granted shall be calculated
by dividing $57,500 by the fair value calculated under ASC Topic 718 (i.e., Black-Scholes Value) of an option to purchase a share of the
Company’s common stock on the effective date of grant, and rounding up to the next whole number of shares. The NQSOs subject to
the Annual Award shall expire ten years from the date of grant and the exercise price per share of such NQSOs shall be the closing market
price on the NASDAQ Global Market (or such other market on which the Company’s common stock is then principally listed) of a share
of the Company’s common stock on the effective date of grant.

 

The RSUs shall vest in full at the one year anniversary
of the Annual Meeting, or the day prior to the next Annual Meeting, whichever is first to occur, with pro rata vesting upon termination
of service for any reason, and the NQSOs shall vest monthly over one (1) year from the date of the Annual Meeting.

 

Sale Event Acceleration: All outstanding
Initial Awards and Annual Awards held by a non-employee director shall become fully vested and exercisable upon a Sale Event (as defined
in the Company’s 2020 Stock Option and Incentive Plan).

 

Expenses

 

The Company will reimburse all reasonable out-of-pocket
expenses incurred by non-employee directors in attending meetings of the Board of Directors or any committee thereof.

 

Adopted by the Board of Directors on November 23,
2020, subject to the completion of the Company’s initial public offering, and amended and restated effective as of February 9,
2021.

    2

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