Exhibit 10.4

FOURTH AMENDMENT TO THE

AARON’S, INC. EMPLOYEES RETIREMENT PLAN

THIS AMENDMENT to the Aaron’s, Inc. Employees Retirement Plan (the “Plan”) is made effective October 16, 2020.

W I T N E S S E T H :

WHEREAS, Aaron’s, Inc. previously established and has maintained the Plan for the benefit of eligible employees; and

WHEREAS, sponsorship of the Plan is being transferred from Aaron’s, Inc. to Aaron’s Holdings Company, Inc.; and

WHEREAS, the company wishes to amend the Plan to reflect the change in the plan sponsor;

NOW, THEREFORE, the Plan is hereby amended as follows:

1.17 Company Stock means the common stock of the Controlling Company.

1.21 Controlling Company means Aaron’s Holdings Company, Inc., and its successors that adopt the Plan.

SCHEDULE A

PARTICIPATING COMPANIES

[see Plan Sections 1.30, 1.57 and 13.3]

Progressive Finance Holdings, LLC

Dent-A-Med, Inc.

Woodhaven Furniture Industries, LLC

Aaron’s, Inc.

(signature on the following page)

IN WITNESS WHEREOF, this Administrative Committee has caused its duly authorized member to execute this Amendment on the date written below.

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