Document:

Exhibit 10.4

 

Execution
Version

 

INDEMNIFICATION AGREEMENT

 

This INDEMNIFICATION AGREEMENT (the “Indemnification
Agreement”), dated as of August 31, 2020, is entered into by and between LF Capital Acquisition Corp., a Delaware corporation
(“Parent”), Level Field Capital, LLC, a Delaware limited liability company (“Sponsor”), Landsea
Holdings Corporation, a Delaware corporation (the “Company”).

 

WITNESSETH:

 

WHEREAS, concurrently with the execution
of this Indemnification Agreement, Parent, LFCA Merger Sub, Inc., a Delaware corporation, the Company and Landsea Homes Incorporated,
a Delaware corporation, will enter into that certain Agreement and Plan of Merger, dated as of the date hereof (the “Merger
Agreement”);

 

WHEREAS, concurrently with the execution
of this Indemnification Agreement and in connection with the transactions contemplated by the Merger Agreement, Parent will enter
into that certain Founders Share Waiver Agreement (the “Founders’ Waiver Agreement”) with certain funds
and accounts managed by Subsidiaries of BlackRock, Inc., a Delaware corporation (collectively, together with their successor, assigns
and transferees as permitted thereunder, the “BlackRock Holders”), dated as of the date hereof;

 

WHEREAS, as a material inducement for
the Company to enter into the Merger Agreement, Parent and Sponsor have agreed to certain obligations with respect to the Founders’
Waiver Agreement, and have agreed to enter into this Indemnification Agreement to memorialize the same;

 

NOW, THEREFORE, in consideration of the
premises and the mutual agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

 

1.           Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Merger Agreement.

 

2.           Parent
hereby agrees not to amend, waive, terminate or otherwise modify the Founders’ Waiver Agreement without the Company’s
prior written consent.

 

3.           If
the Company determines in good faith that there was a breach of the Founders’ Waiver Agreement, upon a request in writing
by the Company, Parent hereby agrees to promptly seek to specifically enforce, at its sole cost and expense, the BlackRock Holders’
obligations under the Founders’ Waiver Agreement in accordance with the terms thereof. The parties further agree that Sponsor
shall defend, indemnify and hold harmless the Company and Parent against any actions, suits, or causes of action against such party,
including, but not limited to, any reasonable and documented out-of-pocket costs or expenses incurred by such party in connection
with the enforcement of this Agreement or the Founders’ Waiver Agreement (but in each case excluding any internally allocated
costs).

 

    	 	 	 

     

    

  

4.           In
the event that the waiver of the BlackRock Holders’ respective rights under the anti-dilution and conversion provisions of
Section 4.3(b)(ii) of the Parent Charter contemplated by Section 2 of the Founders’ Waiver Agreement is ineffective or is
otherwise waived by the Parent and, as a result, the outstanding shares of Parent Class B Stock held by the BlackRock Holders’
(as set forth in the Founders’ Waiver Agreement, such shares the “BlackRock Shares”) are not converted
into shares of Parent Class A Stock upon Closing on a one-for-one basis in accordance with the Initial Conversion Ratio (as defined
in the Parent Charter), immediately after the Closing, Sponsor shall automatically and irrevocably surrender and forfeit to Parent,
for no consideration and as a contribution to the capital of Parent, a number of shares of Parent Class A Stock (for the avoidance
of doubt, excluding in the calculation of such amount such shares of Parent Class A Stock required to be deferred and/or forfeited
by Sponsor pursuant to the Sponsor Surrender Agreement) equal to (a) such number of shares of Parent Class A Stock the BlackRock
Shares were converted into at or as a result of the Closing less (b) the number of BlackRock Shares outstanding immediately
prior to the Closing.

 

5.           No
party hereto may assign or otherwise transfer, directly or indirectly, its rights or obligations under this Indemnification Agreement
to any other party without the prior written consent of the other parties hereto. Notwithstanding the foregoing, the parties hereto
acknowledge and agree that the terms of this Indemnification Agreement are binding on and shall inure to the benefit of their respective
successors and assigns.

 

6.           This
Indemnification Agreement shall terminate, and have no further force and effect, as of the earlier to occur of (a) two (2) days
after the Closing and (b) the termination of the Merger Agreement in accordance with its terms prior to the Effective Time; provided,
however, that the indemnification obligations of Sponsor as set forth in this Agreement shall survive until settlement thereof.

 

7.           This
Indemnification Agreement may be executed in counterparts (including by electronic means), all of which shall be considered one
and the same agreement and shall become effective when signed by each of the parties and delivered to the other parties, it being
understood that all parties need not sign the same counterpart.

 

8.           All
issues and questions concerning the construction, validity, interpretation and enforceability of this Indemnification Agreement
shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to any choice of
law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application
of the laws of any jurisdiction other than the State of Delaware. The parties hereto (i) all agree that any action, proceeding,
claim or dispute arising out of, or relating in any way to, this Indemnification Agreement shall be brought and enforced in the
courts of the State of Delaware or the federal courts located in the State of Delaware, and irrevocably submit to such jurisdiction
and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue
or that such courts represent an inconvenient forum. 

  

9.           EACH
PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED
AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE
TO A TRIAL BY JURY IN RESPECT OF ANY PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF A PROCEEDING, SEEK TO ENFORCE THE
FOREGOING WAIVER, (B) EACH SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) EACH SUCH PARTY MAKES
THIS WAIVER VOLUNTARILY, AND (D) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH 9.

 

[signature page follows]

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Indemnification Agreement as of the date first written above.

 

	 	LF CAPITAL ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Scott Reed         

	 	Name:	Scott Reed
	 	Title:	President
	 	 	 
	 	Level Field Capital, LLC

 

	 	By:	/s/ Elias Farhat

	 	Name:	Elias Farhat
	 	Title:	Manager
	 	 	 
	 	Landsea HOLDINGS CORPORATION

 

	 	By:	/s/ John Ho

	 	Name:	John Ho
	 	Title:	CEO

 

[Signature Page to Indemnification Agreement]Exhibit 10.5

 

VOTING AND SUPPORT AGREEMENT

 

This VOTING AND SUPPORT AGREEMENT (this “Agreement”)
is entered into as of August 31, 2020, by and among Landsea Holdings Corporation, a Delaware corporation (the “Seller”),
Level Field Capital, LLC, a Delaware limited liability company (“Sponsor”), and the stockholders set forth on
Schedule I hereto (such individuals together with Sponsor, each in their capacity as stockholders of LF Capital Acquisition
Corp., a “Stockholder”, and collectively, the “Stockholders”). The Seller, Sponsor, and the
Stockholders are sometimes referred to herein, individually, as a “Party” and collectively as the “Parties”.

 

WITNESSETH:

 

WHEREAS, as of the date hereof, each of the
Stockholders “beneficially owns” (as such term is defined in Rule 13d-3 promulgated under the Exchange Act) and is
entitled to dispose of (or to direct the disposition of) and to vote (or to direct the voting of) the number of shares of Parent
Class A Stock, par value $0.0001 per share (“Class A Stock”) and Parent Class B Stock, par value $0.0001 per
share (“Class B Stock”, together with Class A Stock, the “Common Stock”), of LF Capital Acquisition
Corp., a Delaware corporation (“Parent”), set forth opposite such Stockholder’s name on Schedule I
hereto (such shares of Common Stock, together with any other shares of Common Stock the voting power over which is acquired by
Stockholder during the period from and including the date hereof through and including the date on which this Agreement is terminated
in accordance with its terms (such period, the “Voting Period”), including any and all warrants of Parent beneficially
owned by such Stockholder (including, the private placement warrants issued simultaneously with Parent’s initial public offering
of public warrants) (collectively, the “Warrants”) and any and all Common Stock acquired by such Stockholder
during the Voting Period pursuant to the exercise, exchange or conversion of, or other transaction involving the Warrants (the
“Warrant Shares”, and collectively with the Warrants and the Common Stock, the “Subject Securities”);

 

WHEREAS, Landsea Homes Incorporated, a Delaware
corporation (the “Company”), Parent, LFCA Merger Sub, Inc., a Delaware corporation and a direct, wholly-owned
subsidiary of Parent (“Merger Sub”) and Seller propose to enter into an agreement and plan of merger, dated
as of the date hereof (as the same may be amended from time to time, the “Merger Agreement”), pursuant to which,
upon the terms and subject to the conditions set forth therein, Merger Sub will merge with and into the Company, with the Company
surviving as a wholly-owned subsidiary of Parent, and in exchange therefor, Parent shall make a cash payment to Seller and issue
to Seller a certain number of shares of Parent Class A Stock (such transaction, together with the other transactions contemplated
by the Merger Agreement, the “Transactions”); and

 

WHEREAS, as a condition to the willingness of
the Seller to enter into the Merger Agreement, and as an inducement and in consideration therefor, the Stockholders are executing
this Agreement.

 

    	 	 	 

     

    

  

NOW, THEREFORE, in consideration of the foregoing
and the mutual premises, representations, warranties, covenants and agreements contained herein, the Parties hereto, intending
to be legally bound, hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1 Capitalized Terms. For purposes of this Agreement,
capitalized terms used and not defined herein shall have the respective meanings ascribed to them in the Merger Agreement.

 

ARTICLE II

VOTING AGREEMENT

 

Section 2.1 Agreement to Vote the Subject Securities. Each
Stockholder hereby unconditionally and irrevocably agrees that, during the Voting Period, at any duly called meeting of the stockholders
of Parent (or any adjournment or postponement thereof), and in any action by written consent of the stockholders of Parent requested
by Parent’s board of directors or undertaken as contemplated by the Transactions, such Stockholder shall, if a meeting is
held, appear at the meeting, in person or by proxy, or otherwise cause its Subject Securities to be counted as present thereat
for purposes of establishing a quorum, and it shall vote or consent (or cause to be voted or consented), in person or by proxy,
all of its Subject Securities (a) in favor of the adoption of the Merger Agreement and approval of the Transactions (and any actions
required in furtherance thereof), (b) against any action, proposal, transaction or agreement that would result in a breach in
any respect of any representation, warranty, covenant, obligation or agreement of Parent or Merger Sub contained in the Merger
Agreement, (c) in favor of the proposals set forth in the proxy statement, to be filed by Parent with the Securities and Exchange
Commission (the “SEC”) relating to the Transactions (the “Preliminary Proxy”), and (d) except
as set forth in the Preliminary Proxy, against the following actions or proposals (other than the Transactions): (i) any acquisition
transaction or any other proposal in opposition to approval of the Merger Agreement or in competition with or materially inconsistent
with the Merger Agreement; and (ii) (A) any material change in the present capitalization of Parent or any amendment of the certificate
of incorporation or bylaws of Parent, except to the extent expressly contemplated by the Merger Agreement or the Preliminary Proxy;
(B) any change in Parent’s corporate structure or business; or (C) any other action or proposal involving Parent or any
of its subsidiaries that is intended, or would reasonably be expected, to prevent, impede, interfere with, delay, postpone or
adversely affect in any material respect the Transactions or would reasonably be expected to result in any of the conditions to
Parent’s obligations under the Merger Agreement not being fulfilled. With the exception of the Warrant Amendment, each of
the Stockholders agrees not to, and shall cause its Affiliates not to, enter into any agreement, commitment or arrangement with
any person the effect of which would be inconsistent with or violative of the provisions and agreements contained in this Article
II.

 

Section 2.2 No Obligation as Director or Officer. Nothing
in this Agreement shall be construed to impose any obligation or limitation on votes or actions taken by any director, officer,
employee, agent or other representative (collectively, “Representatives”) of any Stockholder or by any Stockholder
that is a natural person, in each case, in his or her capacity as a director or officer of Parent.

 

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ARTICLE III

COVENANTS

 

Section 3.1 Generally.

 

(a) Each of the Stockholders agrees that during
the Voting Period, except as contemplated by the Merger Agreement and the Transactions thereunder, it shall not, and shall cause
its Affiliates not to, without both the Seller’s and Parent’s prior written consent (i) offer for sale, sell (including
short sales), transfer, tender, pledge, encumber, assign or otherwise dispose of (including by gift) (collectively, a “Transfer”),
or enter into any contract, option, derivative, hedging or other agreement or arrangement or understanding (including any profit-sharing
arrangement) with respect to, or consent to, a Transfer of, any or all of the Subject Securities; (ii) grant any proxies or powers
of attorney with respect to any or all of the Subject Securities; (iii) permit to exist any lien with respect to any or all of
the Subject Securities; or (iv) take any action that would have the effect of preventing, impeding, interfering with or adversely
affecting Stockholder’s ability to perform its obligations under this Agreement; provided, however, that nothing in this
Section 3.1 shall prevent a Transfer to an Affiliate of such Stockholder provided that such transferee (i) agrees to be bound by
the terms and conditions of this Agreement as a Stockholder and (ii) executes a joinder to this Agreement in a form reasonably
acceptable to the Company; provided, further, certain of the Stockholders may enter into and perform the transactions contemplated
by the Founders’ Surrender Agreement (as defined in the Merger Agreement).

 

(b) In the event of a stock dividend or distribution,
or any change in the Subject Securities by reason of any stock dividend or distribution, split-up, recapitalization, combination,
conversion, exchange of shares or the like, the term “Subject Securities” shall be deemed to refer to and include the
Subject Securities as well as all such stock dividends and distributions and any securities into which or for which any or all
of the Subject Securities may be changed or exchanged or which are received in such transaction. Each of the Stockholders agrees,
while this Agreement is in effect, to notify the Seller promptly in writing (including by e-mail) of the number of any additional
shares of Common Stock acquired by each Stockholder, if any, after the date hereof.

 

(c) Each of the Stockholders agrees, while this
Agreement is in effect, not to take or agree or commit to take any action that would make any representation and warranty of such
Stockholder contained in this Agreement inaccurate in any material respect. Each of the Stockholders further agrees that it shall
use its reasonable best efforts to cooperate with the Seller to effect the transactions contemplated hereby and the Transactions.

 

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Section 3.2 Standstill Obligations of the Stockholders. Each
of the Stockholders covenants and agrees with the Seller that, during the Voting Period:

 

(b) None of the Stockholders shall, nor shall
any Stockholder act in concert with any person to make, or in any manner participate in, directly or indirectly, a “solicitation”
of “proxies” or consents (as such terms are used in the rules of the SEC) or powers of attorney or similar rights
to vote, or seek to advise or influence any person with respect to the voting of, any shares of Common Stock in connection with
any vote or other action with respect to a business combination transaction, other than to recommend that stockholders of Parent
vote in favor of adoption of the Merger Agreement and in favor of adoption of the proposals set forth in the Preliminary Proxy
 and any other proposal the approval of which is a condition to the obligations of the Seller under Section 8.1 of the Merger
Agreement (and any actions required in furtherance thereof and otherwise as expressly provided by Article II of this Agreement).

 

(c) None of the Stockholders shall, nor shall
any Stockholder act in concert with any person to, deposit any of the Subject Securities in a voting trust or subject any of the
Subject Securities to any arrangement or agreement with any person with respect to the voting of the Subject Securities, except
as provided by Article II of this Agreement.

 

Section 3.3 Stop Transfers. Each of the Stockholders agrees
with, and covenants to, the Seller that such Stockholder shall not request that Parent register the transfer (book-entry or otherwise)
of any certificate or uncertificated interest representing any Subject Securities during the term of this Agreement without the
prior written consent of the Seller other than pursuant to a transfer permitted by Section 3.1(a) of this Agreement.

 

Section 3.4 Consent to Disclosure. Each Stockholder hereby
consents to the publication and disclosure in the Preliminary Proxy (and, as and to the extent otherwise required by the federal
securities laws or the SEC or any other securities authorities, any other documents or communications provided by Parent, Seller
or the Company to any Governmental Entity or to the Stockholders) of such Stockholder’s identity and beneficial ownership
of Parent Class A Stock and the Parent Class B Stock and the nature of such Stockholder’s commitments, arrangements and understandings
under and relating to this Agreement and, if deemed appropriate by Parent, Seller or the Company, a copy of this Agreement. Each
Stockholder will promptly provide any information reasonably requested by Parent, Seller or the Company for any regulatory application
or filing made or approval sought in connection with the Transactions (including filings with the SEC).

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF STOCKHOLDERS

 

Each of the Stockholders hereby represents and warrants, severally
but not jointly, to the Seller as follows:

 

Section 4.1 Binding Agreement. Such Stockholder, with respect
to itself, (a) if a natural person, is of legal age to execute this Agreement and is legally competent to do so and (b) if not
a natural person, (i) is a corporation, limited liability company or partnership duly organized or formed, as applicable, and validly
existing under the laws of the jurisdiction of its organization and (ii) has all necessary power and authority to execute and deliver
this Agreement and to consummate the transactions contemplated hereby. If the Stockholder is not a natural person, the execution
and delivery of this Agreement and the consummation of the transactions contemplated hereby by such Stockholder has been duly authorized
by all necessary corporate, limited liability or partnership action on the part of such Stockholder, as applicable. This Agreement,
assuming due authorization, execution and delivery hereof by the Seller, constitutes a legal, valid and binding obligation of such
Stockholder, enforceable against such Stockholder in accordance with its terms (except as such enforceability may be limited by
bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general applicability relating
to or affecting creditor’s rights, and to general equitable principles).

 

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Section 4.2 Ownership of Shares. Schedule I sets forth
opposite such Stockholder’s name the number of all of the shares of Common Stock and the number of all of the Warrants over
which such Stockholder has beneficial ownership as of the date hereof. As of the date hereof, such Stockholder is the lawful owner
of the shares of Common Stock and Warrants denoted as being owned by such Stockholder on Schedule I and has the sole power
to vote or cause to be voted such shares of Common Stock and, assuming the exercise of the Warrants, the shares of Common Stock
underlying such Warrants. Such Stockholder has good and valid title to the Common Stock and Warrants denoted as being owned by
such Stockholder on Schedule I, free and clear of any and all pledges, mortgages, encumbrances, charges, proxies, voting
agreements, liens, adverse claims, options, security interests and demands of any nature or kind whatsoever, other than those created
or permitted by this Agreement, those imposed by applicable law, including federal and state securities laws, or except as set
forth in the Warrant Agreement, by and between the Company and Continental Stock Transfer & Trust Company or the Securities
Subscription Agreement by and among the Company, Level Field Capital, LLC and the stockholders party thereto. There are no claims
for finder’s fees or brokerage commission or other like payments in connection with this Agreement or the transactions contemplated
hereby payable by such Stockholder pursuant to arrangements made by such Stockholder. Except for the shares of Common Stock and
Warrants denoted on Schedule I, as of the date of this Agreement, such Stockholder is not a beneficial owner or record holder
of any (i) equity securities of Parent, (ii) securities of Parent having the right to vote on any matters on which the holders
of equity securities of Parent may vote or which are convertible into or exchangeable for, at any time, equity securities of Parent,
or (iii) options or other rights to acquire from Parent any equity securities or securities convertible into or exchangeable for
equity securities of Parent.

 

Section 4.3 No Conflicts.

 

(a) Except
for any filings that may be required by applicable federal securities or antitrust laws, no filing with, or notification
to, any Governmental Entity, and no consent, approval, authorization or permit of any other person is necessary for the execution
of this Agreement by such Stockholder and the consummation by such Stockholder of the transactions contemplated hereby.

 

(b) None of the execution and delivery of this
Agreement by such Stockholder, the consummation by such Stockholder of the transactions contemplated hereby or compliance by such
Stockholder with any of the provisions hereof shall (i) conflict with or result in any breach of the organizational documents of
such Stockholder, as applicable, (ii) result in, or give rise to, a violation or breach of or a default under any of the terms
of any material contract, understanding, agreement or other instrument or obligation to which such Stockholder is a party or by
which such Stockholder or any of such Stockholder’s Subject Shares or assets may be bound, or (iii) violate any applicable
order, writ, injunction, decree, law, statute, rule or regulation of any Governmental Entity, except for any of the foregoing in
clauses (i) through (iii) as would not reasonably be expected to impair such Stockholder’s ability to perform its obligations
under this Agreement in any material respect.

 

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Section 4.4 Reliance by the Seller. Such Stockholder understands
and acknowledges that the Seller is entering into the Merger Agreement in reliance upon the execution and delivery of this Agreement
by the Stockholders.

 

Section 4.5 No Inconsistent Agreements. Such Stockholder
hereby covenants and agrees that, except for this Agreement, such Stockholder (a) has not entered into, nor will enter into at
any time while this Agreement remains in effect, any voting agreement, arrangements or voting trust with respect to such Stockholder’s
Subject Shares inconsistent with such Stockholder’s obligations pursuant to this Agreement, (b) has not granted, nor will
grant at any time while this Agreement remains in effect, a proxy, a consent or power of attorney with respect to such Stockholder’s
Subject Shares and (c) has not entered into any agreement or knowingly taken any action (nor will enter into any agreement or knowingly
take any action) that would make any representation or warranty of such Stockholder contained herein untrue or incorrect in any
material respect or have the effect of preventing such Stockholder from performing any of its material obligations under this Agreement.

 

Section 4.6. Stockholder Has Adequate Information. Such Stockholder
is (i) a sophisticated stockholder, (ii) has adequate information concerning the business and financial condition of the Parent,
Seller and the Company to make an informed decision regarding the Transactions contemplated by the Merger Agreement, (iii) has
had both the opportunity to ask questions and receive answers from the officers and directors of the Parent, Seller and the Company
concerning the business and operations of the Parent, Seller and the Company and to obtain any additional information regarding
the Parent, Seller and the Company and their businesses and operations, to the extent they possess such information or can acquire
it without unreasonable effort or expense, necessary to verify the accuracy of such information and (iv) has independently and
without reliance upon the Parent, Seller or the Company and based on such information as the Stockholder has deemed appropriate,
made its own analysis and decision to enter into this Agreement. The Stockholder acknowledges that the Seller has not made and
does not make any representation or warranty, whether express or implied, of any kind or character except as expressly set forth
in this Agreement, except as contemplated by the Merger Agreement and the Transactions thereunder. The Stockholder acknowledges
that the agreements contained herein with respect to the Subject Shares held by such Stockholder are irrevocable.

 

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ARTICLE V

REPRESENTATIONS AND WARRANTIES OF THE SELLER

 

The Seller hereby represents and warrants to the Stockholders as
follows:

 

Section 5.1 Binding Agreement. The Seller is a corporation,
duly organized and validly existing under the laws of the State of Delaware. The Seller has all necessary corporate power and authority
to execute and deliver this Agreement and to consummate the transactions contemplated hereby. The execution and delivery of this
Agreement and the consummation of the transactions contemplated hereby by the Seller have been duly authorized by all necessary
corporate actions on the part of the Seller. This Agreement, assuming due authorization, execution and delivery hereof by the Stockholders,
constitutes a legal, valid and binding obligation of the Seller enforceable against the Seller in accordance with its terms (except
as such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar
laws of general applicability relating to or affecting creditor’s rights, and to general equitable principles).

 

Section 5.2 No Conflicts.

 

(a) Except
for any filings that may be required by applicable federal securities or antitrust laws, no filing with, or notification
to, any Governmental Entity, and no consent, approval, authorization or permit of any other person is necessary for the execution
of this Agreement by the Seller and the consummation by the Seller of the transactions contemplated hereby.

 

(b) None of the execution and delivery of this
Agreement by the Seller, the consummation by the Seller of the transactions contemplated hereby or compliance by the Seller with
any of the provisions hereof shall (i) conflict with or result in any breach of the organizational documents of the Seller, (ii)
result in, or give rise to, a violation or breach of, termination of or a default under any of the terms of any material contract,
understanding, agreement or other instrument or obligation to which the Seller is a party or by which the Seller or any of its
assets may be bound, or (iii) violate any applicable order, writ, injunction, decree, law, statute, rule or regulation of any Governmental
Entity, except for any of the foregoing as would not reasonably be expected to impair the Seller’s ability to perform its
obligations under this Agreement in any material respect.

 

ARTICLE VI

TERMINATION

 

Section 6.1 Termination. This Agreement shall automatically
terminate, without any further action by the Seller or the Stockholders, and none of the Seller or the Stockholders shall have
any rights or obligations hereunder and this Agreement shall become null and void and have no effect upon the earliest to occur
of (a) as to each Stockholder, the mutual written consent of the Seller and such Stockholder, (b) the Closing Date (following the
performance of the obligations of the Parties required to be performed on the Closing Date) and (c) the date of termination of
the Merger Agreement in accordance with its terms. The termination of this Agreement shall not prevent any Party hereunder from
seeking any remedies (at law or in equity) against another Party hereto or relieve such Party from liability for such Party’s
breach of any terms of this Agreement or for common law fraud, intentional misrepresentation and willful misconduct in connection
thereof. Notwithstanding anything to the contrary herein, the provisions of Article VII shall survive the termination of
this Agreement.

 

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ARTICLE VII

MISCELLANEOUS

 

Section 7.1 Further Assurances. From time to time, at the
other Party’s request and without further consideration, each Party shall execute and deliver such additional documents and
take all such further action as may be reasonably necessary or desirable to consummate the transactions contemplated by this Agreement.

 

Section 7.2 Fees and Expenses. Each of the Parties shall
be responsible for its own fees and expenses (including, without limitation, the fees and expenses of investment bankers, accountants
and counsel) in connection with the entering into of this Agreement and the consummation of the transactions contemplated hereby.

 

Section 7.3 No Ownership Interest. Nothing contained in this
Agreement shall be deemed to vest in the Seller any direct or indirect ownership or incidence of ownership of or with respect to
any Subject Shares.

 

Section 7.4 Amendments, Waivers, etc. This Agreement may
not be amended, changed, supplemented, waived or otherwise modified, except upon the execution and delivery of a written agreement
executed by each of the Parties hereto, provided, this Agreement may be terminated with respect to an individual Stockholder as
set forth in Section 6.1(a). The failure of any Party hereto to exercise any right, power or remedy provided under this Agreement
or otherwise available in respect hereof at law or in equity, or to insist upon compliance by any other Party hereto with its obligations
hereunder, and any custom or practice of the Parties at variance with the terms hereof shall not constitute a waiver by such Party
of its right to exercise any such or other right, power or remedy or to demand such compliance.

 

Section 7.5 Notices. All notices, requests, claims, demands
and other communications, including service of process, required or permitted, hereunder shall be in writing and shall be given
(and shall be deemed to have been duly given upon receipt) by delivery in person, by facsimile or by registered or certified mail
(postage prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for
a Party as shall be specified by like notice):

 

(a)          If
to the Seller:

 

Landsea Holdings Corporation

660 Newport Center Drive, Suite 300

Newport Beach, CA 92660

Attention: Franco Tenerelli

Email:ftenerelli@landsea.us

 

with a copy (which shall not constitute notice) to:

 

Gibson, Dunn & Crutcher LLP

200 Park Ave,

New York, NY 10166

Attention: Dennis Friedman; Michael
Flynn; Evan D’Amico

Email:dfriedman@gibsondunn.com; mflynn@gibsondunn.com;
edamico@gibsondunn.com

 

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(b)          If
to the Stockholders:

 

James Erwin

20 Glenmeadow Court

Dallas, TX 75225

 

Karen Wendel

300 Beale Street, #606

San Francisco, CA 94105

 

Gregory Wilson

960 Carya Court

Great Falls, VA 22066

 

Section 7.6 Headings. The headings contained in this Agreement
are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.

 

Section 7.7 Severability. If any term or other provision
of this Agreement is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other conditions
and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance
of the transactions contemplated hereby is not affected in any manner adverse to any Party. Upon such determination that any term
or other provision is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good faith to modify
this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner to the end that
the transactions contemplated hereby are fulfilled to the fullest extent possible.

 

Section 7.8 Entire Agreement; Assignment. This Agreement
(together with the Merger Agreement, to the extent referred to herein, and the schedule hereto) constitutes the entire agreement
among the Parties with respect to the subject matter hereof and supersedes all prior agreements and undertakings, both written
and oral, among the Parties, or any of them, with respect to the subject matter hereof. Except for transfers permitted by Section
3.1, this Agreement shall not be assigned by operation of law or otherwise without the prior written consent of the other Party.

 

Section 7.9 Certificates. Promptly following the date of
this Agreement, each Stockholder shall advise Parent’s transfer agent in writing that such Stockholder’s Subject Shares
are subject to the restrictions set forth herein and, in connection therewith, provide Parent’s transfer agent in writing
with such information as is reasonable to ensure compliance with such restrictions.

 

    	 	9	 

     

    

  

Section 7.10 Parties in Interest. This Agreement shall be
binding upon and inure solely to the benefit of each Party hereto, and nothing in this Agreement, express or implied, is intended
to or shall confer upon any other person any rights, benefits or remedies of any nature whatsoever under or by reason of this Agreement.

 

Section 7.11 Interpretation. When reference is made in this
Agreement to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words “include”,
“includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words
“without limitation.” The words “hereof,” “herein,” “hereby” and “hereunder”
and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision
of this Agreement and references to a person are also to its permitted successors and assignees. The word “or” shall
not be exclusive. Whenever used in this Agreement, any noun or pronoun shall be deemed to include the plural as well as the singular
and to cover all genders. This Agreement shall be construed without regard to any presumption or rule requiring construction or
interpretation against the Party drafting or causing any instrument to be drafted.

 

Section 7.12 Governing Law. This Agreement shall be governed
by, and construed in accordance with, the laws of the State of Delaware.

 

Section 7.13 Specific Performance; Jurisdiction. The Parties
agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance
with their specific terms or were otherwise breached. It is accordingly agreed that the Parties shall be entitled to an injunction
or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in
the Court of Chancery of the State of Delaware (or, if the Court of Chancery of the State of Delaware lacks jurisdiction, then
in the applicable Delaware state court) or, if under applicable law exclusive jurisdiction over such matter is vested in the federal
courts, any court of the United States located in the State of Delaware (or any court in which appeal from such courts may be taken),
this being in addition to any other remedy to which such Party is entitled at law or in equity. In addition, each of the Parties
hereto (a) consents to submit itself to the personal jurisdiction of the Court of Chancery of the State of Delaware or any court
of the United States located in the State of Delaware (or any court in which appeal from such courts may be taken) in the event
any dispute arises out of this Agreement or any of the transactions contemplated by this Agreement, (b) agrees that it will not
attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (c) agrees that
it will not bring any action relating to this Agreement or any of the transactions contemplated by this Agreement in any court
other than the Court of Chancery of the State of Delaware or, if under applicable law exclusive jurisdiction over such matter is
vested in the federal courts, any court of the United States located in the State of Delaware (or any court in which appeal from
such courts may be taken) and (d) consents to service being made through the notice procedures set forth in Section 7.5.
Each of the Stockholders and the Seller hereby agrees that service of any process, summons, notice or document by U.S. registered
mail to the respective addresses set forth in Section 7.5 shall be effective service of process for any proceeding in connection
with this Agreement or the transactions contemplated hereby.

 

    	 	10	 

     

    

  

Section 7.14 Counterparts. This Agreement may be executed
in counterparts (including by facsimile or pdf or other electronic document transmission), each of which when executed shall be
deemed to be an original but all of which taken together shall constitute one and the same agreement.

 

Section 7.14 Waiver of Jury Trial. EACH OF THE PARTIES HEREBY
WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION
DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

Section 7.15 No Partnership, Agency or Joint Venture. This
Agreement is intended to create a contractual relationship between the Stockholders, on the one hand, and the Seller, on the other
hand, and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship between
or among the parties hereto. Without limiting the generality of the foregoing sentence, each of the Stockholders (a) is entering
into this Agreement solely on its own behalf and shall not have any obligation to perform on behalf of any other holder of Common
Stock or any liability (regardless of the legal theory advanced) for any breach of this Agreement by any other holder of Common
Stock and (b) by entering into this Agreement does not intend to form a “group” for purposes of Rule 13d-5(b)(1) of
the Exchange Act or any other similar provision of applicable law. Each of the Stockholders has acted independently regarding its
decision to enter into this Agreement and regarding its investment in Parent.

 

[Signatures on the following pages]

 

    	 	11	 

     

    

  

IN WITNESS WHEREOF, the parties have caused this Agreement to be
duly executed as of the day and year first above written.

 

	 	PARENT:
	 	 
	 	LF CAPITAL ACQUISITION CORP.
	 	 	   
	 	By:	/s/ Scott Reed

	 	Name:	Scott Reed
	 	Title:	President and Chief Executive Officer

  

[Signatures continue on the following pages]

 

    	 	 	 

     

    

 

	 	SELLER:
	 	 	 
	 	LANDSEA HOLDINGS CORPORATION
	 	 	 
	 	By:	/s/ John Ho              

	 	Name:	John Ho

	 	Title:	CEO

 

[Signatures continue on the following page]

 

    	 	 	 

     

    

 

	 	SPONSOR:
	 	 
	 	LEVEL FIELD CAPITAL, LLC 
	 	 	 
	 	By:	/s/ Elias Farhat

	 	Name:	Elias Farhat
	 	Title:	Member

 

	 	STOCKHOLDERS:
	 	 
	 	james erwin
	 	 	 
	 	By: 	/s/ James Erwin
	 	Name: James Erwin
	 	 	 
	 	karen wendel
	 	 	 
	 	By: 	/s/ Karen Wendel
	 	Name: Karen Wendel
	 	 	 
	 	Gregory wilson
	 	 	 
	 	By: 	/s/ Gregory Wilson
	 	Name: Gregory Wilson

 

    	 	 	 

     

    

 

SCHEDULE I

 

Beneficial Ownership of Securities

 

	Stockholder	 	Class A Common Stock	 	 	Class B Common Stock	 	 	Public Warrants	 	 	Private Placement
 Warrants	 
	Level Field Capital, LLC	 	 	0	 	 	 	3,578,250	 	 	 	0	 	 	 	7,259,600	 
	James Erwin	 	 	0	 	 	 	20,000	 	 	 	0	 	 	 	0	 
	Karen Wendel	 	 	0	 	 	 	20,000	 	 	 	0	 	 	 	0	 
	Gregory Wilson	 	 	0	 	 	 	20,000	 	 	 	0	 	 	 	0

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