Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 90

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 90
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 change of control, severance or similar agreement with the Company or any Subsidiary that determines the effect of such termination event on the Participant’s Awards, then such agreement shall take precedence over the terms of any Award Agreement. Unless otherwise provided in the applicable Award Agreement or in any employment, offer letter, retention, change of control, severance or similar agreement with the Company or any Subsidiary, vested Awards granted under this Plan shall expire, terminate or otherwise be forfeited as follows:

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(i)3 months after the date the Company delivers a notice of termination of a Participant’s Active Status, other than in circumstances
covered by (ii), (iii) or (iv) below;

(ii)immediately upon termination of a Participant’s Active Status for Misconduct;

(iii)12 months after the date on which a Participant other than a Non-Employee Director ceased performing services as a result of such
Participant’s total and permanent Disability; and

(iv)12 months after the date on which the Participant ceased performing services as a result of Retirement, or after such Participant’s
death.

Notwithstanding the foregoing
subsections (i) through (iv) above, the Committee shall have the authority to extend the expiration date of any outstanding Nonqualified
Option, or Stock Appreciation Right in circumstances in which it deems such action to be appropriate (provided that no such extension
shall extend the term of any Nonqualified Option or Stock Appreciation Right beyond the date on which the Nonqualified Option or Stock
Appreciation Right would have expired if no termination of the Employee’s Active Status had occurred).

(d)
Deferral.In its Discretion and subject to such terms and conditions as it may impose, the Committee may permit a Participant to
elect to defer receipt of shares issuable pursuant to any Award to a time later than the time the cash or shares otherwise would be issued
to the Participant; provided, that such deferral election complies with rules adopted by the Committee, which comply with, or are exempt
from, the requirements of Section 409A of the Code. In such event, the Committee may, in its Discretion, provide for the payment
by the Company of an additional amount representing interest at a reasonable rate or the actual rate of return on one or more predetermined
specific investments, as determined by the Committee.

(e)
Recoupment, Clawback, Equity Holding or Stock Ownership Policies. Any Awards granted under this Plan and any amounts or benefits
arising from such