This site predicts that they'll get two 5th rounders.
According to the rules provided on that site, I don't think Reed counts against them because he was (I think) released before the midseason point.
Besides Reed, they signed Greg Jones and Shane Lechler, and lost Quin, Barwin, James Casey, Donnie Jones, Alan Ball, Justin Forsett, and James Casey. They released Kevin Walter so he doesn't count as a loss.