Document:

Document

Exhibit 10.4

Allegro Microsystems, Inc.
955 Perimeter Road
Manchester, New Hampshire 03103

November 23, 2021

PERSONAL & CONFIDENTIAL
BY EMAIL (Chris.Brown@Allegromicro.com)

Christopher Brown
102 Ellicott St
Needham, MA 02492

RE: Separation Agreement and General Release

Dear Chris:

This letter outlines the terms of your separation from employment with Allegro MicroSystems, Inc. (the "Company"), as of December 17, 2021. On your last day of employment, the Company will pay all compensation due to you from the Company through your last day. The Company will also reimburse you for any outstanding, reasonable business expenses that you have incurred on the Company's behalf through your separation from employment, after the Company's timely receipt of appropriate documentation under the Company's business expense reimbursement policy. Health coverage will end for you and any dependents at midnight on December 17, 2021. However, you may elect to continue to receive health coverage pursuant to the requirements under COBRA. You will also receive the vested portion of any outstanding equity awards that were previously granted to you under the Company's 2020 Omnibus Incentive Compensation Plan ("Equity Plan"), as described in more detail in Paragraph 2(c)(I). The compensation, benefits and equity described in this paragraph will be paid to you irrespective of whether you sign the Agreement, as defined below.

The remainder of this letter confirms our mutual understanding regarding the terms and conditions of your transition of employment from the Company and outlines your separation benefits, which are subject to your execution and non-revocation of this agreement and general release ("Agreement").

1.Separation Date. Provided you sign this Agreement and Exhibit A and otherwise comply with the Agreement's terms, your employment with the Company will end on December 17, 2021 ("Separation Date"). The Company will continue to pay your base salary, less applicable withholdings, in accordance with its usual payroll practices, through your Separation Date. You acknowledge and understand that nothing in this Agreement alters the at-will nature of your employment. During your remaining employment with the Company, you are expected to continue to comply with all Company policies and rules. Any violation of such policies and rules before the Separation Date may result in your immediate termination, and in such event, you will not be eligible to sign Exhibit A and receive the benefits provided in Paragraph 2.

2.Severance Benefits. You will be entitled to the benefits described in Paragraphs 2(a)-(c) ("Severance Benefits"), provided you satisfy each of the following conditions ("Severance Conditions"): (A) the timely execution of this Agreement, which must be executed and returned on or before the Separation Date, and the release attached as Exhibit A, which must be executed and returned upon the close of business on the Separation Date; (B) the expiration of the seven-day revocation periods provided in this Agreement and in Exhibit A, without revocation by you; (C) your continued compliance with this Agreement; (D) your continued compliance with the existing restrictive covenants between you and the Company (specifically including Paragraph 13 of the 2020 Omnibus Incentive Compensation Plan Restricted Stock Unit Agreement); (E) and your continued cooperation with the Company to implement the Transition Plan (as defined in Paragraph 9). As consideration, the Company agrees to provide:

a)Severance Payment. A single, lump-sum severance payment in the amount of $681,932.00, less all applicable deductions and withholdings, which is comprised of: (i) an amount equal to 100% of your annual base salary and 100% of your target bonus for the 2022 fiscal year under the Company's annual bonus plan ("Target Bonus"); plus (ii) an amount equal to the prorated portion of your annual bonus for the 2022 fiscal year under the Company's annual bonus plan, determined by multiplying your Target Bonus on the Separation Date by a ratio equal to the number of completed days of employment in the fiscal year prior to and including the Separation Date, divided by the total number of days in such fiscal year. Provided the Severance Conditions have been satisfied, the Company will pay you the severance payment within thirty days following the Separation Date.

b)COBRA Benefit. For the eighteen-month period immediately following your Separation Date ("Subsidy Period"), provided that you are eligible for and timely elect COBRA, you will be eligible to continue health insurance benefits for you, your spouse and any dependents (including medical, dental and vision, as applicable), at the level in effect on your Separation Date and at no cost to you ("COBRA Benefit"). The Company will pay for the full cost of the COBRA Benefit during the Subsidy Period. Notwithstanding the foregoing, the Company's payment of the COBRA Benefit will cease immediately upon the earlier of: (A) the date you cease to be eligible for COBRA for any reason; (B) the date you become covered under another group health plan; or (C) the conclusion of the Subsidy Period. Consistent with the requirements of COBRA and to the extent you are still eligible for COBRA following the Subsidy Period, you will be eligible to continue COBRA benefits at the full cost of COBRA. You agree to promptly notify the Company upon the occurrence of an event described in (A) or (B) above. The COBRA health care continuation coverage period under section 4980B of the Code will run concurrently with the Coverage Period. The COBRA Benefit paid by the Company during the Subsidy Period will be treated as taxable income.

c)Equity Grants.

i.As of the Separation Date, you will have outstanding equity awards that were previously granted to you under the Equity Plan, including (i) performance-based restricted stock units ("PSUs"); (ii) time-based restricted stock units ("RSUs"), which vest in equal annual installments over four years; and (iii) RSUs, which vest in a single installment. Your separation from employment will be treated as a "termination without Cause," where applicable, and your vested RSUs and PSUs will be distributed in accordance with the terms of each respective grant agreement and your unvested RSUs and PSUs will be forfeited.

ii.As of the Separation Date, you hold unvested common shares ("Shares") that were converted from the pre-IPO Class L Shares ("L Share Award"). The Company will vest additional unvested shares of your L Share Award on a pro-rata basis as if you were employed from the Separation Date through the one-year anniversary thereof. Provided the Severance Conditions have been satisfied, the Shares will be issued to you as soon as administratively practicable following your Separation Date.

iii.The Company will also grant you a one-time special RSU award ("New RSUs") that will provide the equivalent of additional pro-rata vesting for certain RSUs and PSUs that would othe1wise be forfeited. Such additional vesting will be calculated through the one-year anniversary of your Separation Date. The New RSUs will contain restrictive covenants consistent with the Company's standard employee grant agreements and will vest on the Separation Date.

3.Release.

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a)In consideration for the Severance Benefits, to the fullest extent permitted by law, you waive, release, and forever discharge the Company and each of its past and current parents, subsidiaries, affiliates and each of its and their respective past and current directors, officers, trustees, employees, representatives, agents, employee benefit plans and such plans' administrators, fiduciaries, trustees, recordkeepers, and service providers, and each of its and their respective successors and assigns, each and all of them in their personal and representative capacities (collectively, the "Releasees") from any and all claims legally capable of being waived, grievances, injuries, controversies, agreements, covenants, promises, debts, accounts, actions, causes of action, suits, arbitrations, sums of money, attorneys' fees, costs, damages, or any right to any monetary recovery or any other personal relief, whether known or unknown, in law or in equity, by contract, tort, law of trust or pursuant to federal, state or local statute, regulation, ordinance or common law, which you now have, ever have had, or may hereafter have, based on or arising from any fact or set of facts, whether known or unknown to you, from the beginning of time until the date of execution of this Agreement, arising out of or relating in any way to your employment relationship with the Releasees or other associations with the Releasees or any termination thereof. Without limiting the generality of the foregoing, this waiver, release, and discharge includes any claim or right, to the extent legally capable of being waived, based on or arising under any federal, state, or local fair employment practices or equal opportunity laws, including, but not limited to, the Age Discrimination in Employment ("ADEA''), the Older Workers' Benefits Protection Act, the Rehabilitation Act of 1973, the Worker Adjustment and Retraining Notification Act, Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Employee Retirement Income Security Act ("ERISA") (including, but not limited to, claims for breach of fiduciary duty under ERISA), the Americans with Disabilities Act, the Family and Medical Leave Act of 1993; the New Hampshire Law Against Discrimination, New Hampshire Whistleblowers' Protection Act, New Hampshire Minimum Wage Law, New Hampshire's Protective Legislation Law, New Hampshire Unemployment Compensation Prohibition Against Discrimination Law, New Hampshire's Uniform Trade Secrets Act, New Hampshire Safety and Health of Employees Law, Non-Compete and Non-Piracy Agreements section of the New Hampshire Protective Legislation Law, all as amended; the Massachusetts Fair Employment Practices Act, the Massachusetts Civil Rights Act, the Massachusetts Equal Rights Act, the Massachusetts Parental Leave Act, the Massachusetts Labor and Industries Act, the Massachusetts right of privacy law, the Massachusetts Wage Act (as further explained below), the Massachusetts Earned Sick Time law, the Massachusetts Minimum Fair Wage law, Massachusetts Law Prohibiting Unlawful Discrimination, Massachusetts Equal Pay Act, except for claims that cannot be waived related to inquiry or discussion of wages, Massachusetts Right to be Free from Sexual Harassment Law, Massachusetts Age Discrimination Law, Massachusetts Equal Rights for the Elderly and Disabled Law, Massachusetts False Claims Act, Massachusetts Family and Medical Leave Laws and Small Necessities Act, Massachusetts labor and industry privacy law, as well as any claim or right under your offer letter and/or employment agreement with the Company.

By signing this Agreement, you acknowledge that this waiver includes any claims against the Releasees under the Massachusetts Wage Act. These claims include, but are not limited to, claims for failure to pay earned wages, failure to pay overtime, failure to pay earned commissions, failure to timely pay wages, failure to pay accrued vacation or holiday pay, failure to furnish appropriate pay stubs, improper wage deductions, and failure to provide proper check-cashing facilities.

You also agree to waive any right to bring, maintain, or participate in a class action, collective action, or representative action against the Releasees to the fullest extent permitted by law. You agree that you may not serve as a representative of a class action, collective action, or representative action, may not participate as a member of a class action, collective action, or representative action, and may not recover any relief from a class action, collective action, or representative action. You further agree that if you are included within a class action, collective action, or representative action, you will take all steps necessary to opt-out of the action or refrain from opting in, as the case may be. You are not waiving any right to challenge the validity of this 
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Paragraph on any grounds that may exist in law and equity. However, the Releasees reserve the right to attempt to enforce this Agreement, including this Paragraph in any appropriate forum.

b)Notwithstanding the generality of the foregoing, nothing herein constitutes a release or waiver by you of, or prevents you from making or asserting: (i) any claim or right you may have under COBRA; (ii) any claim or right you may have for unemployment insurance or workers' compensation benefits (other than for retaliation under workers' compensation laws); (iii) any claim to vested benefits under the written terms of an employee benefit plan; (iv) any claim for indemnity you may have against the Company as a former officer and director of the Company; (v) any medical claim incurred during your employment that is payable under applicable medical plans or an employer-insured liability plan; (vi) any claim or right that may arise after the execution of this Agreement; (vii) any claim or right you may have under this Agreement; or (viii) any claim that is not otherwise able to be waived under applicable law.

In addition, nothing herein shall prevent you from filing a charge or complaint with the Equal Employment Opportunity Commission or similar federal or state fair employment practices agency or interfere with your ability to participate in any investigation or proceeding conducted by such agency; provided, however, that pursuant to Paragraph 3(a), you are waiving any right to recover monetary damages or any other form of personal relief from the Releasees to the extent any such charge, complaint, investigation or proceeding asserts a claim subject to the release in Paragraph 3(a) above. To the extent you receive any such personal or monetary relief in connection with any such charge, complaint, investigation or proceeding, the Company will be entitled to an offset for the payment made pursuant to Paragraph 2 of this Agreement.

4.No Additional Entitlements. You agree and represent that other than as provided for in this Agreement, you have received all entitlements due from the Releasees relating to your employment with the Company, including, but not limited to, all wages earned, all commissions and bonuses, sick pay, vacation pay, overtime pay, and any paid and unpaid personal leave for which you were eligible and entitled, and that no other entitlements are due to you other than as set forth in this Agreement. Additionally, the Company agrees not to contest any claim for unemployment benefits you may file; provided, however, that the Company may respond to any inquiry from the unemployment compensation board to the extent you make any allegations of wrongdoing by the Company.

5.Return of Property. Following your Separation Date, you agree to promptly return to the Company all of its property, including, but not limited to, computers, tablets, cell phones, files, documents, identification cards, access cards, credit cards, keys, equipment, software, and data, however stored.

6.Reports to Government Entities. Nothing in this Agreement restricts or prohibits you from initiating communications directly with, responding to any inquiries from, providing testimony before, providing confidential information to, reporting possible violations of law or regulation to, or from filing a claim or assisting with an investigation directly with a self-regulatory authority or a government agency, or from making other disclosures that are protected under the whistleblower provisions of federal, state, or local law or regulation. You do not need the prior authorization from the Company to engage in conduct protected by this Paragraph, and you do not need to notify the Company that you have engaged in such conduct. Please take notice that federal law provides criminal and civil immunity to federal and state claims for trade secret misappropriation to individuals who disclose a trade secret to their attorney, a court, or a government official in ce1iain, confidential circumstances that are set forth at 18 U.S.C. §§ 1833(b)(l) and 1833(b)(2), related to the repo1ting or investigation of a suspected violation of the law, or in connection with a lawsuit for retaliation for reporting a suspected violation of the law.

7.Non-Admission. It is understood and agreed that neither the execution of this Agreement nor the terms of this Agreement constitute an admission of liability to you by the Releasees, and such liability is expressly denied. It is further understood and agreed that no person shall use the Agreement, or the consideration paid pursuant thereto, as evidence of an admission of liability, inasmuch as such liability is expressly denied.
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8.Cooperation. You agree that upon the Company's reasonable notice to you, and a reasonable request, you will cooperate with the Company and its counsel (including, if necessary, preparation for and appearance at depositions, hearings, trials, or other proceedings) with regard to matters that relate to or arise out of matters you have knowledge about or have been involved with during your employment with the Company. If cooperation is required under this Paragraph, you will be reimbursed for any reasonable travel expenses incurred in connection therewith.

9.Transition Plan. You agree that for a period of twelve months following the Separation Date, to the extent the Company deems necessary, you will cooperate in good faith with the Company to implement the transition of your former role with the Company to a new General Counsel ("Transition Plan").

10.Confidentiality of the Agreement. Except as permitted in Paragraphs 3 and 6 of this Agreement, or if otherwise required by law, you will not disclose the terms of this Agreement, or the circumstances giving rise to this Agreement, to any person other than your attorneys, immediate family members, accountants, or financial advisors.

11.Protection of Confidential Information. Except as expressly permitted in Paragraphs 3 and 6 of this Agreement or if otherwise required by law, you agree to you abide by your Intellectual Property and Confidentiality Agreement, and will not, at any time, directly or indirectly, disclose any trade secret, confidential or proprietary information you have learned by reason of your association with the Company ("Confidential Information") or use any such Confidential Information to the detriment of the Company, its parents, affiliates or subsidiaries, or to the benefit of any business or enterprise that competes with the Company, its parents, affiliates or subsidiaries. You further acknowledge and agree to abide by your obligations set forth in paragraph 13 of the 2020 Omnibus Incentive Compensation Plan Restricted Stock Unit Agreement ("RSU Agreement").

12.Non-Disparagement. Except as expressly permitted in Paragraphs 3 and 6 of this Agreement, or if otherwise required by law, you agree that you will not at any time make any written or verbal comments or statements of a defamatory or disparaging nature regarding the Releasees or their personnel or products, and you will not take any action that would cause the Releasees or their personnel or products any embarrassment or humiliation or otherwise cause or contribute to their being held in disrepute.

13.Acknowledgments. You hereby acknowledge that:

a)The Company advises you to consult with an attorney before signing this Agreement and Exhibit A;

b)You have obtained independent legal advice from an attorney of your own choice with respect to this Agreement, or you have knowingly and voluntarily chosen not to do so;

c)You freely, voluntarily and knowingly entered into this Agreement after due consideration;

d)You have had a minimum of twenty-one days to review and consider this Agreement and Exhibit A;

e)If you knowingly and voluntarily choose to do so, you may accept the terms of this Agreement before the twenty-one day consideration period provided for in Paragraph 13(d) above has expired;

f)You agree that changes to the Company's offer contained in this Agreement and Exhibit A, whether material or immaterial, will not restart the twenty-one day consideration period provided for in Paragraph 13(d) above;

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g)You have a right to revoke this Agreement and Exhibit A by notifying Joanne Valente, Vice President and Chief Human Resources Officer, in writing, via electronic mail (ivalcntc@allegromicro.com), within seven days of your execution of this Agreement and Exhibit A;

h)In exchange for your waivers, releases, and commitments set forth herein, including your waiver and release of all claims arising under the Age Discrimination in Employment Act,                         the payments, benefits, and other considerations that you are receiving pursuant to this Agreement exceed any payment, benefit, or other thing of value to which you would otherwise be entitled, and are just and sufficient consideration for the waivers, releases, and commitments set forth herein; and

14.Revocation by the Company. You agree that if you fail to execute or return the Agreement or Exhibit A within the dates provided, the promises and agreements made by the Company will be revoked.

15.Medicare Disclaimer. You acknowledge that you are not a Medicare Beneficiary as of the time you enter into this Agreement. To the extent that you are a Medicare Beneficiary, you agree to contact a Company Human Resources Representative for further instruction.

16.Miscellaneous.

a)Entire Agreement. Except for the RSU Agreement and your Intellectual Property and Confidentiality Agreement, this Agreement and Exhibit A sets forth the entire agreement between you and the Company and replaces any other oral or written agreement between you and the Company relating to the subject matter of this Agreement and Exhibit A. In signing this Agreement, you are not relying upon any promises, inducements, or representations made by anyone at or on behalf of the Company, and you are not relying upon any such promises, inducements, or representations in entering into this Agreement other than those included in this Agreement and Exhibit A.

b)Governing Law. This Agreement shall be construed, performed, enforced and in all respects governed in accordance with the laws of the State of Massachusetts, without giving effect to the principles of conflicts of law thereof.

c)Severability. Should any provision of this Agreement be held to be void or unenforceable, the remaining provisions shall remain in full force and effect, to be read and construed as if the void or unenforceable provisions were originally deleted.

d)Amendments. This Agreement may not be modified or amended, except upon the express written consent of both you and the Company.

e)Breach. You acknowledge that if you breach your commitments to the Company agreed upon in Paragraphs 2, 3, 5, 8, 9, 10, 11, or 12 you will forfeit the severance benefits set forth in Paragraph 2 and be subject to suit by the Company for damages and equitable relief relating to such breach. You further acknowledge that any breach by you of Paragraph 2, 3, 5, 8, 9, 10, 11, or 12 will cause irreparable damage to the Company and that in the event of such breach the Company shall have, in addition to any and all remedies at law, the right to an injunction, specific performance or other equitable relief to prevent the violation of your obligations hereunder.

f)Waiver. A waiver by either party hereto of a breach of any term or provision of the Agreement shall not be construed as a waiver of any subsequent breach.

g)Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement.
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h)Taxes. You acknowledge and agree that the amounts described in Paragraph 2 of this Agreement are subject to applicable taxes and withholdings, and that the Releasees have not provided you with any advice or counsel with respect to the tax consequences of such amounts. You further acknowledge and agree that you are solely responsible, and shall indemnify and hold the Releasees harmless, for any and all taxes (excluding the employer portion of social security and Medicare taxes), including any penalty or excise taxes, that may result from your receipt of all amounts payable and benefits to be provided to you under this Agreement, and neither the Company nor any of its parents or affiliates makes or has made any representation, warranty or guarantee of any federal, state, or local tax consequences to you of your receipt of any payment or benefit hereunder, including, but not limited to, under section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A"). For purposes of Section 409A, each payment hereunder shall be treated as a separate payment, and the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate payments. You acknowledge and agree that you shall not make any claim against the Releasees based on how the Company reports to the tax authorities amounts paid under this Agreement. In, addition, if the period for executing and not revoking the Agreement spans two tax years, payment will be made in the second tax year.

i)Effective Date. This Agreement shall become. immediately effective upon the expiration of the seven-day revocation period described above, provided you have not exercised your right to revoke.

If the above accurately states our agreement, including the separation and release, kindly sign below and return this Agreement to me via email (jvalente@allegromicro.com) by no later than December 17, 2021. We will sign the Agreement and return a copy to you. Please sign and return Exhibit A upon the close of business on December 17, 2021.

We sincerely wish you the best of luck in your future endeavors. If you have any questions, please do not hesitate to contact me.

Sincerely,

Allegro MicroSystems, Inc.

By:  /s/ Joanne Valente                                          
Joanne Valente
Vice President/CHRO
Date:                         12/17/21                        

UNDERSTOOD, AGREED TO AND ACCEPTED WITH THE
INTENTION TO BE LEGALLY BOUND:

/s/ Christopher Brown                                            
Christopher Brown
Date:                                12/17/21                         

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EXHIBIT A

SUPPLEMENTAL AGREEMENT AND GENERAL RELEASE

In exchange for the payments, benefits, and other consideration provided by Allegro MicroSystems, Inc. (the "Company") as set forth in the letter of agreement and general release dated November 23, 2021 (the "Agreement"), which I acknowledge and agree are just and sufficient consideration for the waivers, releases, and commitments set forth herein, I, Christopher Brown, hereby irrevocably and unconditionally agree to waive, release and forever discharge the Releasees (as defined in Paragraph 3 of the Agreement) from any and all claims legally capable of being waived, agreements, causes of action, attorneys' fees, costs, damages, or any right to any monetary recovery or any other personal relief, whether known or unknown, in law or in equity, by contract, tort, law of trust or pursuant to federal, state or local statute, regulation, ordinance or common law, which I now have, ever have had, or may hereafter have, whether known or unknown to me, arising at any time up to the date of execution of Exhibit A, arising out of or relating in any way to my employment relationship with the Releasees or other associations with the Releasees or any te1mination thereof.

Without limiting the generality of the foregoing, this waiver, release, and discharge includes any claim or right, to the extent legally capable of being waived, based upon or arising under any federal, state, or local fair employment practices or equal opportunity laws, including, but not limited to, the Age Discrimination in Employment Act ("ADEA''), the Older Workers' Benefits Protection Act, the Rehabilitation Act of 1973, the Worker Adjustment and Retraining Notification Act, Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Employee Retirement Income Security Act ("BRISA") (including, but not limited to, claims for breach of fiduciary duty under BRISA), the Americans with Disabilities Act, the Family and Medical Leave Act of 1993, the New Hampshire Law Against Discrimination, New Hampshire Whistleblowers' Protection Act, New Hampshire Minimum Wage Law, New Hampshire's Protective Legislation Law, New Hampshire Unemployment Compensation Prohibition Against Discrimination Law, New Hampshire's Uniform Trade Secrets Act, New Hampshire Safety and Health of Employees Law, Non-Compete and Non-Piracy Agreements section of the New Hampshire Protective Legislation Law, all as amended; the Massachusetts Fair Employment Practices Act, the Massachusetts Civil Rights Act, the Massachusetts Equal Rights Act, the Massachusetts Parental Leave Act, the Massachusetts Labor and Industries Act, the Massachusetts right of privacy law, the Massachusetts Wage Act (as further explained below), the Massachusetts Earned Sick Time law, the Massachusetts Minimum Fair Wage law, Massachusetts Law Prohibiting Unlawful Discrimination, Massachusetts Equal Pay Act, except for claims that cannot be waived related to inquiry or discussion of wages, Massachusetts Right to be Free from Sexual Harassment Law, Massachusetts Age Discrimination Law, Massachusetts Equal Rights for the Elderly and Disabled Law, Massachusetts False Claims Act, Massachusetts Family and Medical Leave Laws and Small Necessities Act, Massachusetts labor and industry privacy law, as well as any claim or right under my offer letter and/or employment agreement with the Company.

By signing Exhibit A, I acknowledge that this waiver includes any claims against the Company under the Massachusetts Wage Act. These claims include, but are not limited to, claims for failure to pay earned wages, failure to pay overtime, failure to pay earned commissions, failure to timely pay wages, failure to pay accrued vacation or holiday pay, failure to furnish appropriate pay stubs, improper wage deductions, and failure to provide proper check-cashing facilities.

I also agree to waive any right to bring, maintain, or participate in a class action, collective action, or representative action against the Releasees to the fullest extent permitted by law. I agree that I may not serve as a representative of a class action, collective action, or representative action, may not participate as a member of a class action, collective action, or representative action, and may not recover any relief from a class action, collective action, or representative action. I further agree that if I am included within a class action, collective action, or representative action, I will take all steps necessary to opt-out of the action or refrain from opting in, as the case may be. I am not waiving any right to challenge the validity of this Paragraph on any grounds that may exist in law and equity. However, the Releasees reserve the right to attempt to enforce this Agreement, including this Paragraph in any appropriate forum.

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I agree and represent that other than as provided for in Exhibit A, I have received all entitlements due from the Company relating to my employment with the Company, including but not limited to, all wages earned, all commissions and bonuses, sick pay, vacation pay, overtime pay, and any paid and unpaid personal leave for which I was eligible and entitled, and that no other entitlements are due to me other than as set forth in the Agreement and Exhibit A.

Notwithstanding the generality of the foregoing, I understand that nothing herein constitutes a release or waiver by me of, or prevents me from making or asserting: (i) any claim or right I may have under COBRA; (ii) any claim or right I may have for unemployment insurance or workers' compensation benefits; (iii) any claim to vested benefits under the written terms of a qualified employee pension benefit plan; (iv) any medical claim incurred during my employment that is payable under applicable medical plans or an employer-insured liability plan; (v) any claim or right that may arise after the execution of Exhibit A; (vi) any claim or right I may have under Exhibit A; or (vii) any claim that is not otherwise waivable under applicable law.

In addition, I understand that nothing herein shall prevent me from filing a charge or complaint with the Equal Employment Opportunity Commission or similar federal or state agency or my ability to participate in any investigation or proceeding conducted by such agency; provided, however, that I am waiving any right to recover monetary damages or any other form of personal relief in connection with any such charge, complaint, investigation or proceeding. To the extent I receive any personal or monetary relief in connection with any such charge, complaint, investigation, or proceeding, the Company will be entitled to an offset for the payments made pursuant to Paragraph 2 of the Agreement. Nothing herein limits my right to receive an award from any self-regulatory authority or a government agency or entity that provides awards for providing information relating to a potential violation of law.

I further understand that nothing herein shall prohibit me restrict me from lawfully (A) initiating communications directly with, cooperating with, providing information to, causing information to be provided to, or otherwise assisting in an investigation by any governmental or regulatory agency, entity, or official(s) (collectively, "Governmental Authorities") regarding a possible violation of any law; (B) responding to any inquiry or legal process directed to me individually (and not directed to the Company and/or its subsidiaries) from any such Governmental Authorities; (C) testifying, participating or otherwise assisting in an action or proceeding by any such Governmental Authorities relating to a possible violation of law; or (D) making any other disclosures that are protected under the whistleblower provisions of any applicable law. Nor does Exhibit A require me to obtain prior authorization from the Company before engaging in any conduct described in this paragraph, or to notify the Company that I have engaged in any such conduct. Additionally, pursuant to the federal Defend Trade Secrets Act of 2016, I shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made to my attorney in relation to a lawsuit for retaliation against me for reporting a suspected violation of law; or (c) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

By signing Exhibit A, I understand and acknowledge that:

a)The Company advises me to consult with an attorney before signing Exhibit A;

b)I have obtained independent legal advice from an attorney of my own choice with respect to Exhibit A, or I have knowingly and voluntarily chosen not to do so;

c)I freely, voluntarily, and knowingly entered into Exhibit A after due consideration;

d)I have had a minimum of twenty-one days to review and consider Exhibit A;

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e)I agree that changes to the Company's offer contained in the Agreement or Exhibit A, whether material or immaterial, will not restart the twenty-one day consideration period provided for in Paragraph (d) above;

f)I have a right to revoke Exhibit A by notifying Joanne Valente, Vice President and Chief Human Resources Officer, in writing, via electronic mail (to Jvalente@allegromicro.com), within seven days of my execution of Exhibit A;

g)In exchange for my waivers, releases, and commitments set forth herein, including my waiver and release of all claims arising under the Age Discrimination in Employment Act, the payments, benefits, and other considerations that I am receiving pursuant to the Agreement exceed any payment, benefit, or other thing of value to which I would otherwise be entitled, and are just and sufficient consideration for the waivers, releases, and commitments set forth herein; and

h)No promise or inducement has been offered to me, except as expressly set f01ih herein and in the Agreement, and I am not relying upon any such promise or inducement in entering into Exhibit A. My employment remains at-will and Exhibit A does not confer upon me any right or obligation to continue in the employ of the Company for any period of time.

Exhibit A shall become effective upon the expiration of the seven-day revocation period described above. I understand and acknowledge that no payments will be made and no benefits will be provided to me until I have executed the Agreement and Exhibit A and both seven-day revocation periods have expired without revocation by me.

Exhibit A incorporates by reference, as if set forth fully herein, all terms and conditions of the Agreement between the Company and me, including the recitation of consideration provided by the Company. By signing Exhibit A, I waive, release and forever discharge any and all claims that may have arisen through the date of my execution of Exhibit A. It is not my intention to otherwise change, alter or amend any of the terms and conditions of the Agreement, for which I received adequate consideration, and which Agreement remains in full force and effect. I acknowledge and agree that I continue to be bound by the terms and conditions of the Agreement.

l understand and acknowledge that l will execute and return Exhibit A upon the close of business on December 17, 2021, the Separation Date.

UNDERSTOOD, AGREED TO AND ACCEPTED WITH THE
INTENTION TO BE LEGALLY BOUND:

/s/ Christopher Brown                                            
Christopher Brown
Date:                           12/17/21                             
10Exhibit 10.4

 

PURCHASE
AND SALE AGREEMENT

 

THIS
PURCHASE AND SALE AGREEMENT (this “Agreement”) is entered into as of June 6, 2022, by and between Patrick T. Files, Jr. and
Jennifer S. Files, husband and wife (“Seller”), and VH 2nd Street Office, LLC a Delaware limited liability company (“Purchaser”).
The effective date (the “Effective Date”) of this Agreement is the date on which this Agreement has been executed by the
last party.

 

RECITALS

 

	 	A.	Seller
    owns that certain improved real property in Clark County, Washington, which is described more particularly on the attached and incorporated
    Exhibit A, and which is located at 2818 E. 2nd Street, Vancouver, WA 98661.
	 	 	 
	 	B.	Seller
    is currently in the process of completing a lot division for the Property, which will be recorded with Clark County and take substantially
    the form on the attached and incorporated Exhibit B, and which a new lot will be assigned a new legal description and tax
    parcel that will supersede Exhibit A.
	 	 	 
	 	C.	Seller
    wishes to sell and Purchaser wishes to purchase the two story industrial office property as identified in Exhibit B located on the
    Property.
	 	 	 
	 	D.	Purchaser
    wishes to purchase the future lot subdivision as real property from Seller and Seller is willing to sell such Property to Purchaser
    under the terms and conditions contained in this Agreement.

 

NOW,
THEREFORE, the parties covenant and agree as follows:

 

1.
Purchase and Sale.
Seller agrees to sell and Purchaser agrees to purchase the following (collectively referred to as the “Property”): the real
property (the “Real Property”) described on the attached and incorporated Exhibit A as amended upon the lot division
being recorded with Clark County, together with all personal property located thereon and used in the operation thereof, and improvements
on and appurtenances to such property (the “Improvements”), including without limitation any appurtenant privileges, easements,
development, subdivision and other rights, permits, applications and licenses, air and water rights, easements or rights-of-way benefiting
such property, and Seller’s rights and interests in leases, licenses and other agreements relating to the Real Property or the
Improvements existing as of the closing date which are approved by Purchaser pursuant to the terms of this Agreement.

 

    	1

    	 

    

 

2.
Earnest Money.
Within three (3) business days after the expiration of the Contingency Period referenced in Section 7.1, Purchaser shall deposit with
the Vancouver office of Fidelity National Title Company of Washington, Inc., attention: Melissa Miller, 655 W. Columbia Way, Suite 200,
Vancouver, Washington 98660, Melissa.Miller@fnf.com (“Escrow Agent”) the sum of One Million and No/100 Dollars (U.S.$1,000,000.00)
in cash, which shall serve as Purchaser’s earnest money deposit (together with the interest accrued thereon, herein referred to
as the “Earnest Money”) and the Earnest Money shall be held by Escrow Agent in an interest bearing account and shall be retained
by Seller or returned to Purchaser according to the terms of this Agreement. Earnest Money shall be released to Seller and applied to
the Purchase Price upon Purchaser’s notice to proceed to close prior to the expiration of the Contingency Period. If the Earnest
Money is not deposited by Purchaser within six (6) business days after the Effective Date, Seller shall have, at its sole option and
discretion and for so long as the Earnest Money has not been deposited, the right to terminate this Agreement as its sole and exclusive
remedy, and neither party shall have any further liability to the other hereunder.

 

3.
Title. Title
to the Property at closing shall be free of any encumbrances or defects except for the Permitted Exceptions. If there is any defect in
title which can be remedied by the payment of money (for example, payment of a lien or mortgage), then such defect shall be remedied
by paying the same at closing out of the proceeds otherwise due to Seller.

 

4.
Purchase Price. The
purchase price for the Property payable to Seller by Purchaser (including the Earnest Money) is Six Million and No/100 Dollars (U.S.$6,000,000.00)
(the “Purchase Price”), which shall be paid in cash at closing and all of which shall be allocated to the Real Property and
Improvements.

 

5.
Title Insurance and Survey.

 

5.1
Within five (5) business days after the Effective Date, Seller shall provide to Purchaser, at its Seller’s cost and expense: (i)
a preliminary commitment for ALTA standard or extended (at Purchaser’s option) coverage title insurance (the “Commitment”)
showing marketable title to the Real Property in Seller issued by Fidelity National Title Company of Washington, Inc. (the “Title
Company”), together with correct, complete and legible copies of all recorded instruments referenced in the Commitment as conditions
or exceptions to title to the Real Property, including liens; and (ii) any and all existing surveys of the Property (together with any
and all surveys obtained by Purchaser at its sole option and expense, collectively referred to as the “Survey”).

 

    	2

    	 

    

 

5.2
Within seven (7) days of Purchaser’s receipt of the Commitment, if Purchaser is not satisfied with the condition of title in its
sole discretion, Purchaser shall be entitled (i) to terminate this Agreement, or (ii) to object to any of the exceptions to title or
any other condition appearing in the Commitment, and to condition its acquisition of the Property upon the release, discharge or removal
of said objected matters from the Title Policy. If Purchaser fails to give written notice waiving objections regarding the Commitment
prior to the end of such 7-day period, Purchaser shall be deemed to have elected to terminate this Agreement. If Purchaser makes any
such objections regarding the Commitment, Seller shall notify Purchaser in writing, within ten (10) days after Purchaser’s objection
notice, whether or not Seller shall cure such objected matters prior to closing. In the event Seller elects not to cure all of the objected
matters at or prior to closing (which shall be deemed to be the case where no notice is given by Seller), Purchaser, within seven (7)
days after Seller’s election, may elect to waive such objected matters which Seller declines to cure or to terminate this Agreement.
Purchaser’s failure to make such an election shall be deemed to be Purchaser’s election to terminate this Agreement. In the
event Purchaser elects to terminate this Agreement, the Earnest Money shall be returned to Purchaser and any and all rights or obligations
of Seller and Purchaser under this Agreement (except those which expressly survive the termination hereof) shall terminate and be of
no further force or effect. The foregoing notwithstanding, Seller agrees that except for the liens for any taxes and any special assessments
which are not delinquent on the closing date or liens caused or created by Purchaser, Seller shall cause all monetary liens against the
Property which are not accepted or to be assumed by Purchaser to be released of record or affirmatively insured against by the closing
date.

 

5.3
Seller shall deliver to Purchaser as soon after the closing date as practical an ALTA standard or extended (at Purchaser’s election)
form owner’s coverage policy of title insurance (the “Title Policy”) issued by the Title Company in the full amount
of the Purchase Price containing no exceptions except for the Permitted Exceptions and the standard or extended (as applicable) coverage
form printed exceptions approved by Purchaser. At closing, Seller shall cause the Title Company to confirm that it is prepared to issue
the Title Policy subject only to the Permitted Exceptions and the standard or extended (as applicable) coverage form printed exceptions
approved by Purchaser.

 

6.
Conveyance of Title. At
closing, Seller shall deliver to Purchaser a good and sufficient statutory warranty deed to the Real Property subject only to the following
(the “Permitted Exceptions”):

 

6.1
the lien of real estate taxes for the current year not yet due and payable; and

 

6.2
encumbrances or defects appearing in the Commitment approved or not objected to by Purchaser under Section 5 of this Agreement.

 

7.
 Contingency Period.

 

7.1
Purchaser shall have until not later than the end of business on the date that is seven (7) days after the Effective Date to investigate
and determine, in Purchaser’s sole judgment, the suitability of the Property for Purchaser’s intended use (the “Contingency
Period”), including the physical condition of the Property, land use limitation applicable to the Property and issues related to
the current tenant of the Property.

 

7.2
Within five (5) days after the Effective Date, Seller shall provide to Purchaser true, correct and complete copies or originals of all
information which Seller may have in its possession or under its control, or which may be available to Seller, related to the Property,
including without limitation:

 

    	3

    	 

    

 

(a)
permits, licenses, permit applications and/or studies related to the Property, and notices (including without limitation Environmental
Notices) issued by governmental agencies relating to zoning, environmental, wetland and any other matters relating to the Property;

 

(b)
 leases, maintenance, management, security, service, supply, and similar contracts and agreements affecting the Property;

 

(c)
tax bills and statements, insurance policies (including hazard insurance) covering the Property and any other documents and records available
and which are normally maintained in the operation of the Property;

 

(d)
itemized list of all personal property constituting part of the Property (including fixtures and equipment);

 

(e)
copies of architectural, mechanical, electrical, plumbing, drainage, construction, and similar plans, permits, specifications and blueprints
relating to the Property;

 

(f)
acquisition and/or environmental and/or inspection report and appraisals relating to the Property which has been prepared by, or on behalf
of, Seller;

 

(g)
construction, architectural, and engineering contracts and agreements; and

 

(h)
warranties covering any portion of the Property.

 

Purchaser
acknowledges that Seller shall be under no obligation to create any additional data or documentation or obtain any reports for Purchaser.

 

7.3
During the Contingency Period and thereafter until closing or the termination of this Agreement, Purchaser shall have unrestricted access
to the Property, either personally or by its agents, to inspect and conduct invasive and other testing of the Property; provided, however,
for any space which is then occupied by a tenant, Purchaser shall make appropriate arrangements with Seller as to the time and duration
of Purchaser’s inspections and Purchaser shall make reasonable efforts needed to protect the tenant’s property and to avoid
unnecessarily and unreasonably disturbing the tenant. Purchaser shall restore any damages to the Property resulting from its activities
thereon if this Agreement is terminated. Purchaser shall protect, defend, indemnify and hold Seller harmless from and against any loss,
cost, liability or expense caused by Purchaser’s presence or activities on the Property, including without limitation any mechanics’
or materialmen’s liens. Purchaser’s obligations under this Section 7.3 to pay its own investigative costs, restore the Property
and indemnify Seller from and against the same shall survive for a period of one (1) year following the termination of this Agreement
or the closing date, as applicable.

 

    	4

    	 

    

 

7.4
During the Contingency Period, Purchaser shall have the unrestricted right to (i) terminate this Agreement upon written notice to Seller
for any or no reason whatsoever and to have the Earnest Money returned to it; (ii) to object to any of the conditions related to the
Property (including without limitation matters disclosed by the Survey), and to condition its acquisition of the Property upon Seller’s
remedy or removal of such objected condition; or (iii) to proceed with its acquisition of the Property without any condition. If Purchaser
fails to give such notice prior to the end of the Contingency Period, Purchaser shall be deemed to have elected to terminate this Agreement.
If Purchaser makes any such objections regarding the condition of the Property (including without limitation matters disclosed by the
Survey), Seller shall notify Purchaser in writing, within five (5) days after Purchaser’s objection notice, whether or not Seller
shall cure such objected matters at or prior to closing. In the event Seller elects not to cure all of the objected matters at or prior
to closing (which shall be deemed to be the case where no notice is given by Seller), Purchaser, within five (5) days after Seller’s
election, may elect to waive such objected matters which Seller declines to cure or to terminate this Agreement. Purchaser’s failure
to make such an election shall be deemed to be Purchaser’s election to terminate this Agreement. In the event Purchaser elects
to terminate this Agreement, the Earnest Money shall be returned to Purchaser and any and all rights or obligations of Seller and Purchaser
under this Agreement (except those which expressly survive the termination hereof) shall terminate and be of no further force or effect.

 

7.5
Subject to Section 11 below, Purchaser shall not be obligated to perform its obligations hereunder, and may terminate this Agreement,
in the event that there occurs any material adverse change in the condition or operations of the Property between the expiration of the
Contingency Period and the closing. Following approval by Purchaser of the Property and agreements, permits and other documents and instruments
relating to the Property, Seller shall not make or permit any amendment or supplement thereto, without obtaining prior to such action
written approval from Purchaser, and shall operate and maintain the Property in the same condition until closing as on the Effective
Date.

 

8.
Seller’s Representations and Warranties.
Seller represents and warrants to Purchaser that
the following matters are true and correct as of the Effective Date:

 

8.1
Power and Authority. Seller has the power and authority to enter into this Agreement and to consummate the transaction contemplated
by this Agreement; and all documents executed by Seller which are to be delivered to Purchaser at closing are duly authorized, executed
and delivered by Seller and constitute legal, valid and binding obligations of Seller enforceable against Seller according to their respective
terms.

 

8.2
Other Agreements. Seller’s execution, delivery and performance of the terms of this Agreement do not violate the provisions
of any agreement to which Seller is a party or by which it is bound.

 

    	5

    	 

    

 

8.3
Agreements and Liens. At closing there will be no outstanding leases, service and other contracts related to the Property other
than those approved by Purchaser pursuant to Section 7; and no persons will be employed in connection with the Property for whom Purchaser
will have any liability whatsoever after the closing. All plans and the permits relating to the Property and assigned to Purchaser at
closing shall have been fully paid for. There are no attachments, executions, or assignments for the benefit of creditors, or voluntary
proceedings in bankruptcy or under any other debtor relief laws contemplated by or pending or threatened by or against Seller or otherwise
affecting the Property. There shall be no liability on Seller’s part with respect to the Property, whether accrued, absolute, contingent
or otherwise, other than real estate taxes and assessments not yet due and payable, and other Permitted Exceptions. Seller has not created,
or permitted the creation of, any security interest or lien of any kind or nature including mechanics’ or materialmen’s liens,
against the Property, or any part thereof, which have not been satisfied or discharged prior to closing.

 

8.4
Assessments. To the best of Seller’s knowledge, there are no pending or proposed special or general assessments against
the Real Property except as reflected in the Commitment.

 

8.5
Proceedings. There are no pending or, to the best of Seller’s knowledge, threatened legal proceedings or actions affecting
Seller, the Property or Seller’s interest in the Property. To the best of Seller’s knowledge, there are no unperformed obligations
which are currently due relative to the Property to any governmental or quasi-governmental body or authority.

 

8.6
Hazardous Materials. To the best of Seller’s knowledge based upon all information it has received previously and after due
investigation, and except as otherwise disclosed to Purchaser in writing pursuant to Section 7, the Real Property has not been used as
a sanitary landfill, petroleum processing or storage plant, gas station, dump, industrial waste disposal area or any other similar use;
does not contain underground tanks or any materials containing or producing polychlorinated biphenyls. Seller further represents and
warrants that, to the best of its knowledge based upon all information it has received previously and after due investigation, and except
as otherwise disclosed to Purchaser pursuant to Section 7, (i) the Property does not contain any Hazardous Substances, nor are there
any Hazardous Substances on, in or below the ground surface of the Real Property, (ii) the Property has not been used to store, generate,
handle, treat or dispose of any Hazardous Substances, (iii) Seller has not received any Environmental Notices relating to any part of
the Property, and (iv) the Property does not contain any (a) electrical transformers or other equipment containing polychlorinated biphenyl
in excess of 50 parts per million, (b) asbestos in any form, and (c) urea formaldehyde foam insulation. For purposes of this Agreement,
“Environmental Notice” means any complaint, order, or other notice with regard to Hazardous Substances issued by any governmental
entity or any other party with respect to the Property; and “Hazardous Substances” means any hazardous or toxic substance,
material or waste which is or becomes regulated by any local, state or federal governmental authority, including without limitation petroleum,
asbestos or asbestos-containing materials. The Real Property is not located in any flood plain or special flood hazard area as designated
by any governmental agency.

 

    	6

    	 

    

 

8.7
Condemnation. There is not pending or, to Seller’s knowledge, threatened (i) any condemnation or similar proceedings with
respect to the Real Property or any part thereof, or (ii) any legal action of any kind or nature affecting the Property or enjoining
or restricting the right of the Seller to convey its interest in any part or all of the Property.

 

8.8
Compliance with Laws. Seller has received no notice from any governmental authority that the Property, or any part thereof, is
in violation of any applicable federal, state, or local laws, ordinances, regulations, statutes, or governmental rules; and Seller has
no actual knowledge that the Property or any portions thereof materially conflict with any building, zoning, or other applicable federal,
state or local law, ordinance, regulation, statute, rule, or restriction, or any judgment, order, or decree of any court having jurisdiction
over the Seller or the Property or any legally enforceable private agreement. To the best of Seller’s knowledge, there are no licenses,
permits or other approvals required for the previous construction or existing operation of the Improvements that have not been issued
or are not in good standing. All major systems and structural aspects of the Property, including without limitation HVAC, electrical
and plumbing systems, roof and its supporting members, the foundation, exterior walls and ceiling, are in good condition and repair.

 

9.
Survival of Representations.

 

9.1
The representations and warranties made by Seller in Section 8 shall be deemed remade by Seller as of closing with the same force and
effect as if in fact made at that time and shall survive closing; provided, however, that prior to closing, Seller may give written notice
of new occurrences, developments or information which do not otherwise constitute defaults under this Agreement but which render any
such warranties and representations materially inaccurate and, if Seller does so, Purchaser either may terminate this Agreement, in which
event the Earnest Money shall be refunded to Purchaser, or may proceed to closing.

 

9.2
Seller hereby agrees to indemnify and hold Purchaser harmless from: (a) any damage or deficiency due to breach of warranty, misrepresentation
or nonfulfillment of any agreement on the part of Seller under this Agreement; (b) any and all liabilities or claims, whether accrued,
absolute, contingent or otherwise, arising in respect of the Property which relate to any period prior to the closing, whether any such
liabilities or claims have been asserted prior to or after the closing; and (c) all actions, suits, proceedings, demands, assessments,
judgments, costs and expenses connected with the foregoing, including reasonable attorneys’ fees. The foregoing indemnification
obligation of Seller shall survive the closing.

 

    	 

    	 

    

 

10.
Purchaser’s Representations.
Purchaser represents, warrants and covenants to Seller as follows:

 

10.1
Purchaser’s Existence and Authority. Purchaser is a validly existing and duly organized non-profit corporation under the
laws of the State of Washington and has the full right and authority to conduct its business under the laws of the State of Washington.

 

10.2
No Third Party Consents. The execution of this Agreement by Purchaser and Purchaser’s performance of all of its obligations
hereunder are not subject to any approval or consent of any person, board, committee or third party, which has not been obtained prior
to the closing date.

 

10.3
No Breach of Agreements. This Agreement does not breach or violate any term or provision of any other agreement or contract to
which Purchaser is a party.

 

11.
Risk of Loss and Eminent Domain.

 

11.1
Risk of Loss. Risk of loss of or damage to the Property shall be borne by Seller until the date of closing. Seller shall continue
to maintain its current casualty and liability insurance policies on the Property through the closing date. In the event of material
loss of or damage to all or any portion of the Property prior to closing, Purchaser may elect to terminate this Agreement and the Earnest
Money shall be refunded to Purchaser; provided, however, that Purchaser shall not terminate this Agreement if Seller agrees in writing
to restore the Property substantially to the condition in which it existed on the Effective Date and before such loss or damage by the
date of closing. Unless this Agreement is so terminated, it shall remain in full force and effect and Seller shall assign, transfer and
set over to Purchaser all Seller’s right, title and interest in and to any insurance proceeds and other compensation that Seller
has received or may receive or be entitled to receive for such loss or damage.

 

11.2
Eminent Domain. If title to all or any part of the Property is taken by eminent domain at any time before closing, Purchaser,
by written notice to Seller, may elect to terminate this Agreement prior to closing by delivering to Seller written notice of its election
to terminate. In the event Purchaser so elects to terminate this Agreement, both parties shall be relieved and released of and from any
further liability under this Agreement and Purchaser shall be entitled to a refund of all Earnest Money. Unless this Agreement is so
terminated, it shall remain in full force and effect and Seller shall assign, transfer and set over to Purchaser all of Seller’s
right, title and interest in and to any awards that has been made or may be made for such taking.

 

12.
Possession. Purchaser
shall be entitled to exclusive possession of the Property on closing, free of any tenants or occupants.

 

13.
Closing.

 

13.1
 The sale shall be closed in escrow in the office of Escrow Agent or at such other place mutually acceptable to Purchaser and Seller,
on or before July 15, 2022 (the “Closing Date”). Either party may extend the closing date for up to ten (10) days for reasons
beyond the requesting party’s reasonable control, such as, without limitation, transportation delays, illness or the unavailability
of Escrow Agent or counsel. Escrow Agent shall be designated the “reporting person” for the sale and purchase hereunder pursuant
to Section 6045(e) of the Internal Revenue Code of 1986, as amended.

 

    	7

    	 

    

 

13.2
Purchaser and Seller shall deposit in escrow with Escrow Agent, on or before the closing date, all instruments and monies necessary to
complete the sale according to the terms of this Agreement. In addition, Seller shall deposit with Escrow Agent instruments in form and
content reasonably acceptable to Purchaser under which, at Purchaser’s option, (i) Seller assigns to Purchaser all plans, permits,
licenses, and warranties relating to the Property, which instruments shall contain a certification by Seller that each architect and/or
engineer retained by Seller has been fully paid for all services rendered in connection with such plans, the permits and the Property
through the date of closing; (ii) Seller assigns contracts and agreements relating to the Property which Purchaser approved in writing
during the Contingency Period; and (iii) Seller conveys its interest in the personal property constituting the Property to Purchaser.

 

13.3
In addition to the foregoing, Seller shall deliver to Purchaser at closing all architectural, mechanical, electrical, plumbing, drainage,
and similar plans, specifications, and blueprints possessed by Seller relating to or used in the construction of the improvements on
the Real Property; all keys to the improvements or any part thereof; and all permits (to the extent available and in Seller’s possession
or control) issued by governmental authorities and utilities at the time the improvements were constructed, including, but not limited
to, evidence of compliance with zoning ordinances, certificates of occupancy, and similar permits.

 

13.4
Seller’s obligation to close the transactions hereunder is subject to the satisfaction of each of the following conditions: Purchaser’s
fulfillment of each of its obligations under this Agreement in all material respects; and the continuing accuracy of all of Purchaser’s
warranties and representations in this Agreement in all material respects. Purchaser’s obligation to close the transactions hereunder
is subject to the satisfaction of each of the following conditions: Seller’s fulfillment of each of its obligations under this
Agreement in all material respects; Purchaser’s receipt of all of Seller’s certificates referred to in this Agreement and
the continuing accuracy of all of Seller’s warranties and representations in this Agreement in all material respects; the absence
of any monetary lien or other material defect in title to the Property which was not permitted by this Agreement or approved or deemed
approved by Purchaser as herein provided and which cannot be released of record or insured against at the expense of Seller; and the
absence of any change in any laws or statutes from those existing at the end of the Contingency Period which materially impairs Purchaser’s
ability to use the Property for Purchaser’s Intended Use. Notwithstanding any conflicting provision of this Agreement, if the transactions
contemplated under this Agreement are not consummated on or before the Closing Date and such failure to close is not a result of Purchaser’s
breach of its obligations hereunder, Purchaser shall have the right to terminate this Agreement upon delivery of written notice to Seller.
Upon such termination as described aforesaid, the Earnest Money shall be refunded to Purchaser and the parties shall not have any further
obligations under this Agreement except such obligations that expressly survive termination of this Agreement.

 

    	8

    	 

    

 

14.
Closing Affidavit. Seller
shall deliver to Purchaser on the date of closing an affidavit stating that, as of the date of closing, there are no outstanding unsatisfied
judgments, tax liens or bankruptcies against or involving Seller or the Property; there have been no labor or materials furnished to
the Property for which mechanic’s or other liens could be filed; there are no unrecorded leases, contracts, easements or other
unrecorded interests of any kind related to the Property (other than the Permitted Exceptions); and there are no contracts or agreements
of any nature whatsoever relating to the use or possession of the Property which Purchaser has not approved pursuant to Section 7 hereof.

 

15.
FIRPTA. Seller
shall deliver to Purchaser at or prior to closing a certificate duly executed by Seller certifying that it is not a foreign person for
purposes of Section 1445 of the Internal Revenue Code of 1986, as amended.

 

16.
Proration of Taxes, Etc. Taxes
for the current year, water and other utilities constituting liens shall be prorated as of closing. Seller shall attempt to have utility
meters read as of the closing date. All final special assessments which are levied and due and payable before and applicable to periods
prior to closing shall be paid in full by Seller at or before closing. All final special assessments which are levied and due and payable
after closing shall be paid by Purchaser. Seller and Purchaser agree that, to the extent items are prorated or adjusted at closing on
the basis of estimates, or are not prorated or adjusted at closing pending actual receipt of funds or compilation of information upon
which such prorations or adjustments are to be based, each of them will, upon a proper accounting, pay to the other such amounts as may
be necessary such that Seller will receive the benefit of all income and will pay all expenses of the Property prior to the closing date
and Purchaser will receive all income and will pay all expenses of the Property after the closing date.

 

17.
Closing Costs. Seller
shall pay the premium for the standard coverage portion of the Title Policy in the full amount of the Purchase Price, real estate excise
and other applicable taxes on the conveyance of the Property, and one-half of Escrow Agent’s escrow fee. Purchaser shall pay the
cost of recording the deed for conveyance of the Property, one-half of Escrow Agent’s escrow fee, and , if Purchaser elects to
obtain an extended title policy, extended coverage portion of the Title Policy and the cost of obtaining any and all surveys required
by the Title Company for its issuance of an extended Title Policy (provided, however, if Seller has such survey in its possession or
available to Seller at any time prior to closing, Seller shall provide such survey to Purchaser at no cost to Purchaser). All other expenses
incurred by Seller or Purchaser with respect to the closing, including, but not limited to, attorneys’ fees of Purchaser and Seller,
shall be borne and paid exclusively by the party incurring same, without reimbursement, except to the extent otherwise specifically provided
herein.

 

    	9

    	 

    

 

18.
Default.

 

18.1
 Seller’s Default. In the event Seller defaults in the performance of any of its obligations under this Agreement and
such default is not cured within ten (10) days after Seller receives notice of such default, Purchaser shall have all rights and remedies
available at law or in equity, including without limitation the right to require Seller to perform this Agreement specifically, terminate
this Agreement by written notice delivered to Seller and receive the refund of the Earnest Money, and/or bring suit for damages.

 

18.2
 Purchaser’s Default. If title to the Property is insurable as provided herein and Seller is prepared to perform all
of its obligations hereunder on the Closing Date, but Purchaser fails to purchase the Property in the manner provided herein, and if
Purchaser fails to cure such default within ten (10) days after Purchaser receives notice of such default, then Seller shall terminate
this Agreement and shall be entitled to receive the Earnest Money as liquidated damages and not as a penalty, as Seller’s sole
and exclusive remedy hereunder; provided, however, in any event in which the Earnest Money exceeds five percent (5%) of the total Purchase
Price under this Agreement or any amendment hereto, the difference represented by such excess shall be returned to Purchaser upon Seller’s
exercise of such remedy.

 

18.3
 Legal Action. In the event any action or proceeding is brought by either party against the other related to this Agreement,
the substantially prevailing party shall be entitled to recover from the other party its costs, including but not limited to reasonable
attorneys’ fees, incurred in such action or proceeding, including any trial, appeal, or bankruptcy proceeding, which amounts shall
be included in any judgment entered in such action or proceeding; provided, however, that if more than one matter is disputed and each
party prevails as to one or more of the disputed matters, then such costs, expenses and attorneys’ fees shall be awarded in proportion
to the monetary values of the matters on which each party prevailed. As part of the consideration for this Agreement, each of the parties
hereto waives the right to trial by jury in connection with any dispute or action under this Agreement. In any action brought to interpret
or enforce any of the provisions of this Agreement, the venue of same shall be laid in King County, Washington.

 

19.
Governing Law. This
Agreement shall be construed and interpreted and shall be governed and enforced in all respects according to the laws of the State of
Washington.

 

20.
Nonmerger. The
terms and provisions of this Agreement shall not merge in but shall survive the closing of the transaction contemplated under and the
deed to be delivered pursuant to this Agreement.

 

    	10

    	 

    

 

21.
Commissions. Seller
agrees to pay any and all commissions due and owing to Purchaser’s Agent and Seller’s Agent in connection with the negotiation
and execution of this Agreement and the sale of the Property. Purchaser shall have no liability for any commission or other compensation
payable to Purchaser’s Agent or Seller’s Agent in connection with the transaction contemplated by this Agreement. Except
as provided above, Purchaser and Seller each represents that it has not dealt with a real estate broker in connection with the negotiations
leading to this Agreement. Seller and Purchaser each agrees to indemnify and hold the other harmless from and against the claims of all
brokers or other intermediaries claiming to have had any dealings, negotiations or consultations with it in connection with this Agreement
or the sale of the Property, which indemnity shall survive closing and/or the termination of this Agreement.

 

22.
Notices. Notices
and other communications hereunder shall be (i) in writing, (ii) delivered to the address set forth below for a party, and (iii) effective
upon personal delivery, delivery by courier service providing proof of delivery, or two (2) business days after deposit in the U.S. mail,
postage prepaid, addressed to the address for the party. Notice given by email is deemed delivered on the date the email transmission
is sent if it is sent to the email address set forth in the Agreement or otherwise provided in accordance with the Agreement. Each party
shall make all reasonable efforts to confirm its receipt of facsimile or email notice. If a notice is sent by facsimile, such notice
shall be effective upon transmission as evidenced by an acknowledgment or transmission report generated by the machine from which the
facsimile was sent, indicating that the facsimile was sent in its entirety to the addressee’s facsimile number. A party’s
notice address may be changed by written notice to the other party.

 

23.
Enforcement. Either
party’s failure to insist upon or enforce strict performance by the other party of any provision of or to exercise any right under
this Agreement shall not be construed as a waiver or relinquishment to any extent of such party’s right to assert or rely upon
any such provision in any other instance; rather, the same shall remain in full force and effect.

 

24.
Binding Nature. All
rights and obligations arising out of this Agreement shall inure to the benefit of and be binding upon the parties and their respective
successors, heirs, assigns, administrators, executors and marital communities.

 

25.
Time.
Time is of the essence in each and every covenant and condition of this Agreement. Should the last day for giving any notice or taking
any action required or permitted under this Agreement fall on a Saturday, Sunday or legal holiday, the last day shall be postponed until
the next day which is not a Saturday, Sunday or legal holiday.

 

26.
Captions. The
captions and section/paragraph headings of this Agreement are inserted for convenience only and shall not be deemed to limit or expand
the meaning of any term or provision of this Agreement.

 

27.
Partial Invalidity. Every
provision of this Agreement is intended to be severable. If any term or provision is held to be illegal or invalid for any reason whatsoever,
such illegality or invalidity shall not affect the validity or legality of such provision for any other reason or the validity or legality
of the remainder of this Agreement.

 

    	11

    	 

    

 

28.
Assignment. Purchaser
may, in its sole discretion, upon written notice to Seller, assign its rights and delegate its obligations under this Agreement to any
person.

 

29.
Counterparts. This
Agreement may be executed in counterparts, each of which shall be treated as an original for all purposes, and all executed counterparts
shall constitute one agreement, binding on all of the parties notwithstanding that all the parties are not signatory to the original
or the same counterpart. Any such counterpart shall be admissible into evidence as an original against the person who executed it.

 

If
this Agreement is not mutually executed on or before 5:00 p.m. PT of June 17, 2022 and counterparts of this Agreement delivered to each
party prior to such time, this Agreement shall be void and of no force and effect.

 

IN
WITNESS OF THIS, the parties have executed this Agreement to be effective as of the Effective Date on the dates indicated below their
respective signatures.

 

	SELLER:	PURCHASER:
	 	 
	 	VH
    2nd Street Office, LLC
	 	By:
    Vault Holding, LLC
	 	Its
    Manager
	 	By:
    iCap Vault Management, LLC
	 	Its:
    Manager
	 	By:
    iCap Enterprises, Inc.
	 	Its:
    Manager

 

	By:	/s/
    Patrick T. Files, Jr 	 	By:	/s/
    Jim Christensen 
	Name:	Patrick
    T. Files, Jr.	 	Name:	Jim
    Christensen
	 	 	 	Title:	Chief
    Operating Officer

 

	Date:
    	                         	 	Date:
    	                              
	 	 	 	 	 
	By:	/s/
    Jennifer S. Files 	 	 	 
	Name:	Jennifer
    S. Files	 	 	 
	 	 	 	 	 
	Date:	 	 	 	 
	 	 	 	 	 
	Address
    for Seller:	 	Address
    for Purchaser:
	 	 	 
	2818
    East 2nd Street	 	3535
    Factoria Boulevard SE, Suite 500,
	Vancouver,
    WA 98661	 	Bellevue,
    Washington 98006
	Attn:
    Tom Files	 	Attn:
    Jim Christensen
	Email:
    tomf@braleygray.com	 	Email:jim@icapequity.com

 

    	12

    	 

    

 

EXHIBIT
A: Legal Description of Real Property

 

Parcel
I:

 

That
certain portion of the William Ryan Donation Land Claim located in Clark County, Washington, more particularly described as
follows:

 

BEGINNING
at a point that is North 146.98 feet and West 320.23 feet from the Southeast corner of Section 26, Township 2 North, Range 1 East of
the Willamette Meridian, said point being the Southeast corner of that certain tract conveyed to C.L. Beedle under Auditor’s File
No. G 171222, Clark County Deed Records, running thence North 2o02’ West a distance of 472.49 feet to a point; thence North
87o58’ East a distance of 296.00 feet to the Westerly line of that tract conveyed to the Washington State School for the Deaf
by deed recorded under Auditor’s File No. G 134473, Clark County Deed Records; thence South 2o02’ East a distance of
472.49 feet to the Northerly line of a proposed 80 foot street; thence South 87o58’ West along said street a distance of 296.00
feet to the point of beginning.

 

EXCEPT
the South 190 feet thereof. The excepted South 190 feet is hereinafter called Parcel B.

 

Parcel
II:

 

TOGETHER
WITH and the right of ingress and egress to and from the leased premises to Grand Avenue, over and across the North 25 feet of the following
described tract:

 

BEGINNING
at a point that is North 139.63 feet and West 526.74 feet from the Southeast corner of Section 26, Township 2 North, Range 1 East of
the Willamette Meridian, said point being on the East right of way line of Grand Avenue and on the North right of way line of a proposed
80.0 foot street; and running thence North 0o16’30” East along said Grand Avenue 215.50 feet; thence North 87o58’
East a distance of 197.97 feet; thence South 2o2’ East a distance of 215.32 feet to the Northerly right of way line of the
aforementioned proposed street; thence along said right of way South 87o58’ West a distance of 206.65 feet to the point of
beginning.

 

APN/Parcel
ID(s): 031065-000

 

    	13

    	 

    

 

EXHIBIT
B: Lot Subdivision to be Recorded with Clark County

 

 

    	14

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