Document:

Exhibit
4(vi)

 

DESCRIPTION
OF THE REGISTRANT’S SECURITIES

REGISTERED
PURSUANT TO SECTION 12 OF THE

SECURITIES
EXCHANGE ACT OF 1934

 

As
of March 22, 2022, Reed’s, Inc.’s (“Reed’s,” the “Company,” “we,” “our,”
“us”) common stock, par value $0.0001 per share (“Common Stock”) was registered under Section 12(b) of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”) and listed on The Nasdaq Capital Market under the symbol “REED”.

 

DESCRIPTION
OF CAPITAL STOCK

 

The
following is a summary of the material terms of our common stock. This summary does not purport to be exhaustive and is qualified in
its entirety by reference to our certificate of incorporation, as amended (“Certificate”) and our amended and restated bylaws,
as further amended (“Bylaws”) and to the applicable provisions of Delaware law.

 

We
are authorized to issue 180,000,000 shares of common stock, $0.0001 par value. Holders of common stock are each entitled to cast one
vote for each share held of record on all matters presented to shareholders. Cumulative voting is not authorized; the holders of a majority
of our outstanding shares of common stock may elect all directors. Holders of common stock are entitled to receive such dividends as
may be declared by our board out of funds legally available and, in the event of liquidation, to share pro rata in any distribution of
our assets after payment of liabilities. Our directors are not obligated to declare a dividend. It is not anticipated that dividends
will be paid in the foreseeable future. Holders of common stock do not have preemptive rights to subscribe to any additional shares we
may issue in the future. There are no conversion, redemption, sinking fund or similar provisions regarding the common stock. All outstanding
shares of common stock are fully paid and nonassessable.

 

As
of March 22, 2021, we had 112,629,406 shares of common stock issued and outstanding.

 

Anti-Takeover
Effects of Certain Provisions of Delaware Law and Our Certificate and Bylaws

 

We
are subject to the provisions of Section 203 of the Delaware General Corporation Law (the “DGCL”), an anti-takeover law.
Subject to certain exceptions, the statute prohibits a publicly held Delaware corporation from engaging in a “business combination”
with an “interested stockholder” for a period of three years after the date of the transaction in which the person became
an interested stockholder unless:

 

	 	●	prior
    to such date, the board of directors of the corporation 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 number of shares outstanding those shares owned (1) by persons who are directors and also officers and (2) by
    employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject
    to the plan will be tendered in a tender or exchange offer; or
	 	 	 
	 	●	on
    or after such date, the business combination is approved by the board of directors and authorized at an annual or special meeting
    of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock that is
    not owned by the interested stockholder.

 

For
purposes of Section 203, a “business combination” includes a merger, asset sale or other transaction resulting in a financial
benefit to the interested stockholder, and an “interested stockholder” is a person who, together with affiliates and associates,
owns, or within three years prior to the date of determination whether the person is an “Interested Stockholder” did own,
15% or more of the corporation’s voting stock.

 

In
addition, our authorized but unissued shares of common stock are available for our board to issue without stockholder approval. We may
use these additional shares for a variety of corporate purposes, including future public or private offerings to raise additional capital,
corporate acquisitions and employee benefit plans. The existence of our authorized but unissued shares of common stock could render more
difficult or discourage an attempt to obtain control of our company by means of a proxy contest, tender offer, merger or other transaction.
Our authorized but unissued shares may be used to delay, defer or prevent a tender offer or takeover attempt that a stockholder might
consider in its best interest, including those attempts that might result in a premium over the market price for the shares held by our
stockholders. The board of directors is also authorized to adopt, amend or repeal our Bylaws (provided, however, that no such adoption,
amendment, or repeal shall be valid with respect to bylaw provisions which have been adopted, amended, or repealed by the stockholders;
and further provided, that bylaw provisions adopted or amended by the board of directors and any powers thereby conferred may be amended,
altered, or repealed by the stockholders) which could delay, defer or prevent a change in control.

 

    	 

     

    

 

We
are subject to the laws of Delaware on corporate matters, including their indemnification provisions. Section 102 of the DGCL permits
a corporation to eliminate the personal liability of directors of a corporation to the corporation or its stockholders for monetary damages
for a breach of fiduciary duty as a director, except where the director breached his duty of loyalty, failed to act in good faith, engaged
in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in violation
of Delaware corporate law or obtained an improper personal benefit.

 

Section
145 of the DGCL, as the same exists or may hereafter be amended, provides that a Delaware corporation may indemnify any persons who were,
or are threatened to be made, parties to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative
or investigative (other than an action by or in the right of such corporation), by reason of the fact that such person is or was an officer,
director, employee or agent of such corporation, or is or was serving at the request of such corporation as a director, officer, employee
or agent of another corporation or enterprise. The indemnity may include expenses (including attorneys’ fees), judgments, fines
and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided
such person acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the corporation’s best
interests and, with respect to any criminal action or proceeding, had no reasonable cause to believe that his or her conduct was illegal.
A Delaware corporation may indemnify any persons who are, were or are threatened to be made, a party to any threatened, pending or completed
action or suit by or in the right of the corporation by reason of the fact that such person was a director, officer, employee or agent
of such corporation, or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation
or enterprise. The indemnity may include expenses (including attorneys’ fees) actually and reasonably incurred by such person in
connection with the defense or settlement of such action or suit, provided such person acted in good faith and in a manner he or she
reasonably believed to be in or not opposed to the corporation’s best interests, provided that no indemnification is permitted
without judicial approval if the officer, director, employee or agent is adjudged to be liable to the corporation. Where an officer,
director, employee, or agent is successful on the merits or otherwise in the defense of any action referred to above, the corporation
must indemnify him or her against the expenses which such officer or director has actually and reasonably incurred.

 

Section
145 of the DGCL further authorizes a corporation to purchase and maintain insurance on behalf of any person who is or was a director,
officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee
or agent of another corporation or enterprise, against any liability asserted against him or her and incurred by him or her in any such
capacity, arising out of his or her status as such, whether or not the corporation would otherwise have the power to indemnify him or
her under Section 145 of the DGCL.

 

Our
Certificate provides that, to the fullest extent permitted by Delaware law, as it may be amended from time to time, none of our directors
will be personally liable to us or our stockholders for monetary damages resulting from a breach of fiduciary duty as a director. Our
Certificate also provides discretionary indemnification for the benefit of our directors, officers and employees, to the fullest extent
permitted by Delaware law, as it may be amended from time to time. Pursuant to our Bylaws, we are required to indemnify our directors,
officers, employees and agents, and we have the discretion to advance his or her related expenses, to the fullest extent permitted by
law.

 

We
do currently provide liability insurance coverage for our directors and officers. We also have entered into indemnification agreements
with certain of our officers and directors.

 

Insofar
as indemnification for liabilities arising under the Securities Act of 1933, as amended (the “Securities Act”) may be permitted
to our directors, officers and controlling persons pursuant to the foregoing provisions, or otherwise, we have been advised that in the
opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable.

 

Transfer
Agent and Registrar; Market Listing

 

The
transfer agent for the Company’s common stock is Transfer Online, Inc., telephone (503) 227-2950. Our common stock is listed on
The Nasdaq Capital Market under the symbol “REED.”Exhibit 10.29

 

ROSENTHAL
& ROSENTHAL, INC.

1370
Broadway

New
York, NY 10018

 

	 	November
    24, 2021

 

Reed’s
Inc.

201
Merritt 7 Corporate Park

Norwalk,
CT 06851

 

Ladies
and Gentlemen:

 

Reference
is made to the Financing Agreement entered into between us dated October 4, 2018, as amended and/or supplemented (the “Financing
Agreement”). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Financing Agreement.

 

This
agreement (“Agreement”) hereby amends the Financing Agreement as follows:

 

1.
Section 1.6 of the Financing Agreement is hereby amended, in its entirety, as follows:

 

“1.6
“Collateral Documents” shall mean any and all security agreements, deposit account control agreements, mortgages and
other documents executed and delivered to Lender to secure the Obligations including but not limited to the Pledged Securities, the Amended
and Restated Pledge Agreement executed by John J. Bello and Nancy E. Bello, as Co-Trustees of THE JOHN AND NANCY BELLO REVOCABLE LIVING
TRUST, under agreement dated December 3, 2012, executed contemporaneously with this Agreement (“Pledge Agreement”)
and the Control Agreement defined in the Pledge Agreement.”

 

2.
Section 1.17 is deleted in its entirety, and the following is added as a new Section 1.31(a):

 

“1.31(a)
“Pledged Securities” shall have the meaning set forth in Section 2.1.”

 

    	 

     

    

 

3.
Section 2.1 is hereby amended and restated in its entirety so as to read as follows:

 

“Lender
shall, in its commercially reasonable discretion, make loans to Borrower from time to time, at Borrower’s request, which loans
in the aggregate shall not exceed the up to the lesser of (A) the Maximum Credit Facility; or (B) the Loan Availability, which means
(a) the Receivable Availability equal to up to eighty percent (80%) of the Net Amount of Eligible Receivables; plus (b) the Inventory
Availability, which means the lesser of (A) (i) up to sixty-five percent (65%) of the lower of cost or market value of Eligible Inventory
consisting of finished goods, but in no event more than up to eighty-five percent (85%) of the orderly appraised net liquidation value,
as set forth in an appraisal obtained at Borrower’s expense and issued by an appraiser satisfactory to Lender; plus (ii) the lesser
of (x) up to thirty-five percent (35%) of Eligible Inventory consisting of raw materials, but in no event more than up to eighty-five
percent (85%) of the net orderly liquidation value; or (y) one million dollars ($1,000,000), or (B) six million dollars ($6,000,000);
plus a Permitted Overadvance (the “Permitted Overadvance”) not to exceed (x) one million five hundred thousand dollars ($1,500,000)
provided that the Obligations are secured by the value of securities having a fair market value determined by Lender on the date of this
amendment of not less than two million dollars ($2,000,000) pledged to Lender by John J. Bello and Nancy E. Bello, as Co-Trustees of
THE JOHN AND NANCY BELLO REVOCABLE LIVING TRUST, under agreement dated December 3, 2012, held in account #1134-4851 at Charles Schwab
& Co., Inc., evidenced by that certain Pledge Agreement, and as to which Pledged Securities Lender has a first and only perfected
security interest by the Control Agreement in form and substance acceptable to Lender (the “Pledged Securities”),
plus (y) an additional two million five hundred thousand dollars ($2,500,000) provided that the Obligations are secured in the value
of additional and similarly Pledged Securities having a fair market value determined by Lender on the date of this Amendment of not less
than three million three hundred thousand ($3,300,000) and a limited personal guaranty of John J. Bello in form and substance acceptable
to Lender and further provided that the Permitted Overadvance of this Subsection (y) is paid in full to Lender not later than March 31,
2022, at which time said personal guaranty will be discharged and the amount of Pledged Securities may be reduced to that amount required
in Subsection (x) unless there then exists an Event of Default, minus such reserves as Lender may deem, in its sole discretion, to be
necessary from time to time.”

 

4.
Section 9.1 (11) is amended and restated in its entirety so as to read as follows:

 

“(11)
(a) if at any time the fair market value of the Pledged Securities as determined by Lender is less than one million seven hundred sixty-five
thousand dollars ( $1,765,000) and is not restored within three (3) business days to a value of two million dollars ($2,000,000) in substance
satisfactory to Lender for the Permitted Overadvance provided in Section 2.1(x) or (b) if at any time the fair market value of the Pledged
Securities as determined by Lender is less than three million three hundred thousand dollars ($3,300,000) and is not restored within
three (3) business days in substance satisfactory to Lender until the Permitted Overadvance provided in Section 2.1(y) is paid in full
as therein provided;

 

[Remainder
of Page Left Intentionally Blank-Signature Page Follows]

 

    	2

     

    

 

Except
as hereinabove specifically set forth, all of the terms and conditions of the Financing Agreement remain in full force and effect and
shall continue unmodified.

 

	 	Very
    truly yours,
	 	 
	 	ROSENTHAL
    & ROSENTHAL, INC.
	 	 	 
	 	By:	/s/
    Ian Brown
	 	 	Ian
    Brown, Vice President

 

Agreed:

 

	REED’S
    INC.	 
	 	 	 
	By:	/s/
    Norman E. Snyder, Jr.	 
	 	Norman
    E. Snyder, Jr., CEO	 

 

	By:	/s/
Thomas J. Spisak	 
	 	Thomas
    J. Spisak, CFO and Secretary	 

 

[Signature
Page to Amendment to Financing Agreement]

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