Company: CPSS
Filing Date: 2025-12-10
Form Type: S-8
Source: 0001683168-25-009043
Chunk: 4

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-12-10
Form: S-8
Chunk 4
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 occurring prior to the date when the provision became effective
or any act or omission as an officer, notwithstanding that the officer is also a director or that his or her actions, if negligent or
improper, have been ratified by the directors. Further, Section 317 has no effect on claims arising under federal or state securities
laws and does not affect the availability of injunctions and other equitable remedies available to a corporation’s shareholders
for any violation of a director’s fiduciary duty to the corporation or its shareholders.

The Registrant’s Restated Articles of Incorporation provide for
the elimination of liability for its directors to the fullest extent permissible under California law and authorize it to provide indemnification
to directors, officers, employees or other agents through bylaw provisions, agreements with agents, vote of shareholders or disinterested
directors or otherwise, in excess of the indemnification otherwise permitted by Section 317 of the California Code, subject only to the
applicable limits with respect to actions for breach of duty to the Registrant and its shareholders.

The Registrant’s Amended and Restated Bylaws (the “Bylaws”)
provide that it shall indemnify its directors and officers against expenses, judgments, fines, settlements, and other amounts actually
and reasonably incurred in connection with any proceeding, arising by reason of the fact that such person is or was its agent. As included
in the Registrant’s Bylaws, a “director” or “officer” includes any person (a) who is or was a director or
officer of the Registrant, (b) who is or was serving at the request of the Registrant as a director or officer of another corporation,
partnership, joint venture, trust or other enterprise, or (c) who was a director or officer of a corporation which was a predecessor corporation
of the Registrant or of another enterprise at the request of such predecessor corporation. The Registrant’s Bylaws also contain
provisions authorizing it, to the extent and in the manner permitted by the California Code, to indemnify each of its employees and agents
(other than directors and officers) against expenses, judgments, fines, settlements, and other amounts actually and reasonably incurred
in connection with any proceeding, arising by reason of the fact that such person is or was its agent. As included in the Registrant’s
Bylaws, an “employee” or “agent” (other than a director or officer), includes any person who (a) is or was an
employee or