Powershell: How to add a loop code inside an ApplicationContext loop and how to exit gracefully?

Question

Could someone have a look and help me out with two questions I have?

1. Is this the correct way to exit the application? (see towards the end of the code)

# Add assemblies
Add-Type -AssemblyName System.Windows.Forms,System.Drawing

# Create a WinForms application context
$appContext = New-Object System.Windows.Forms.ApplicationContext

$programs_for_high_performance = @('reaper')

# cmd> powercfg list
$high_performance_cfg = '3XS Audio Power'
$high_performance_cfg_guid = '7ce765f7-a0a7-4b3a-89bc-8c987a923e74'

$normal_performance_cfg = 'Balanced'
$normal_performance_cfg_guid = '381b4222-f694-41f0-9685-ff5bb260df2e'

# How often to check (seconds)
$loop_delay = 10
$TimeStart = [int](Get-Date -UFormat %s -Millisecond 0)

# Set Tray Icon
$icon = [System.Drawing.Icon]::ExtractAssociatedIcon("C:\Windows\System32\resmon.exe")

# Create a notify icon
$script:TrayIcon = New-Object System.Windows.Forms.NotifyIcon
$TrayIcon.Icon = $icon 
$current = powercfg -getactivescheme
$current -match '\((.+)\)'
$scheme = $Matches[1]
$TrayIcon.Text = $scheme

$Menu_Exit = New-Object System.Windows.Forms.MenuItem
$Menu_Exit.Text = "Exit"

# Systray menu
$TrayIcon.ContextMenu = New-Object System.Windows.Forms.ContextMenu
$TrayIcon.ContextMenu.MenuItems.AddRange($Menu_Exit)

# 1 IS THIS THE CORRECT WAY? -----
$Menu_Exit.add_Click({
    $TrayIcon.Dispose()
    $appContext.ExitThread()
    $appContext.Dispose()
    [System.GC]::Collect()
    Stop-Process $pid
})

$TrayIcon.Visible = $true

# Make PowerShell Disappear
$windowcode = '[DllImport("user32.dll")] public static extern bool ShowWindowAsync(IntPtr hWnd, int nCmdShow);'
$asyncwindow = Add-Type -MemberDefinition $windowcode -name Win32ShowWindowAsync -namespace Win32Functions -PassThru
$null = $asyncwindow::ShowWindowAsync((Get-Process -PID $pid).MainWindowHandle, 0)

[void][System.Windows.Forms.Application]::Run($appContext)

2. How could I add the following loop into the ApplicationContext loop that is running?

# Check and change powerplan
While ($appContext) # Basically, I should be looking if the Application is running?
{
    $TimeNow = [int](Get-Date -UFormat %s -Millisecond 0)
    If ($TimeNow - $TimeStart -ge $loop_delay) {

        $TimeStart = $TimeNow

        $programs_for_high_performance_running = $False
        for ($i = 0 ; $i -le $programs_for_high_performance.Length – 1 ; $i++)
        {
            Get-Process -ErrorAction SilentlyContinue -Name $programs_for_high_performance[$i]
            $running = $?
            if ($running -eq $True)
            {
                $programs_for_high_performance_running = $True
                # break
            }
        }

        $current = powercfg -getactivescheme
        if ($programs_for_high_performance_running -eq $True)
        {
            # Special programs running
            if ($current -match $high_performance_cfg_guid -eq $False)
            {
                # Switch to High performance
                powercfg -setactive $high_performance_cfg_guid
                $TrayIcon.Text = $high_performance_cfg
            }
        }
        else
        {
            # No special programs running
            if ($current -match $normal_performance_cfg_guid -eq $False)
            {
                # Switch to Balanced performance
                powercfg -setactive $normal_performance_cfg_guid
                $TrayIcon.Text = $normal_performance_cfg
            }
        }
    }

}

Thank you!

PS. I am trying to combine two scripts I've found into one (1, 2). The script checks if a process is running (reaper), and if yes, it sets the power plan scheme to High Performance, if not then to Balanced. A Tray Icon shows the current power plan scheme.