Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 68

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 68
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 shall remain exercisable throughout their entire term,
(ii) any restriction periods and restrictions imposed on Restricted Stock or Restricted Stock Units that are not performance-based shall
lapse, and (iii) the restrictions and deferral limitations and other conditions applicable to any other Awards shall lapse, and such other
Awards shall become free of all restrictions, limitations or conditions and become fully vested and transferable to the full extent of
the original grant.

(c)
“Active Status” mean (i) for Employees, the absence of any interruption or termination of service as an Employee,
(ii) for Directors, that the Director has not been removed from the Board for cause (as determined by the Company’s shareholders),
and (iii) for Consultants, the absence of any interruption, expiration, or termination of such person’s consulting or advisory
relationship with the Company or any Subsidiary or the occurrence of any termination event as set forth in such person’s Award Agreement.
Active Status shall not be considered interrupted (A) for an Employee in the case of sick leave, maternity leave, infant care leave,
medical emergency leave, military leave, or any other leave of absence properly taken in accordance with the policies of the Company or
any applicable Subsidiary as may be in effect from time to time, and (B) for a Consultant, in the case of any temporary interruption
in such person’s availability to provide services to the Company or any Subsidiary which has been granted in writing by an authorized
officer of the Company. Whenever a mandatory severance period applies under applicable law with respect to a termination of service as
an Employee, Active Status shall be considered terminated upon such Employee’s receipt of notice of termination in whatever form
prescribed by applicable law.

(d)
“Award” means any grant of a Stock Option, a Stock Appreciation Right, Restricted Stock, a Restricted Stock Unit, Performance
Stock, a Performance Stock Unit, Other Stock-Based Award or any other type of award permitted under this Plan.

(e)
“Award Agreement” means a written or electronic agreement between the Company and the Participant that shall contain
the terms and conditions of an Award.

(f)
“Benefit Arrangement” shall have the meaning set forth in Section 22(c).

(g)
“Board” means the Board of Directors of the Company.

(h)
“Beneficial Ownership” has the meaning set forth in Rule 13d-3 promulgated under Section 13 of the Exchange Act.

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(i)
“Change of