Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 95

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 95
---

the Participant by reason of such circumstance unless (i) the circumstances giving rise to such event also constitutes a change of
control within the meaning of Treas. Reg. §1.409A-3(i)(5), a disability within the meaning of Treas. Reg. §1.409A-3(i)(4), or
a “separation from service” within the meaning of Treas. Reg. §1.409A-1(h), respectively, or (ii) the payment or
distribution of such amount or benefit would be exempt from the application of Section 409A of the Code by reason of the short-term
deferral exemption or otherwise. This provision does not prohibit the vesting of any Award. If this provision prevents the payment or
distribution of any amount or benefit, such payment or distribution shall be made on the next earliest payment or distribution date or
event specified in the Award Agreement that is permissible under Section 409A of the Code. Notwithstanding anything else to the contrary
in this Plan, to the extent that a Participant is a “specified employee” (as determined in accordance with the requirements
of Section 409A of the Code), no payment on account of a Participant’s separation from service (determined in accordance with
Treas. Reg. §1.409A-1(h)) in settlement of a 409A Award may be made before the date which is 6 months after such Participant’s
date of separation from service, or, if earlier, the date of the Participant’s death.

(c) No Guarantee of Tax Treatment. Notwithstanding any provisions of this Plan, the Company does not guarantee to any Participant or any
other Person with an interest in an Award that (i) any Award intended to be exempt from Section 409A of the Code shall be so
exempt, (ii) any 409A Award intended to comply with Section 409A of the Code or Section 422 of the Code shall so comply,
or (iii) any Award shall otherwise receive a specific tax treatment under any other applicable tax law, nor in any such case will
the Company or any Subsidiary indemnify, defend or hold harmless any individual with respect to the tax consequences of any Award.

| A-15 |

(d) Participant Responsibilities. If a Participant shall dispose of shares of Common Stock acquired through exercise of an Incentive Option
within either (i) 2 years after the date the Stock Option is granted or (ii)