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

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 28
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 is made to a Participant or any time thereafter, the effect on the Award of
the termination of the Participant’s employment or service with the Company and its Subsidiaries; provided, that if the Participant
has in effect an offer letter or an employment, retention, 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 will take precedence over
the terms of the Award agreement if there is a conflict. Unless otherwise provided in the applicable Award Agreement or a Participant’s
employment, offer letter, retention, change of control, severance or similar agreement with the Company or any Subsidiary, the vested
portion of the Participant’s Award will expire, terminate or otherwise be forfeited as follows:

| (i) | three 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.                                                                                                                              |

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 of Common Stock issuable pursuant
to any Award to a time later than the time the 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.

FOREIGN PARTICIPATION

To assure the viability of Awards granted to Participants
employed or residing in foreign countries, the Committee may provide for such special terms as it may consider necessary or appropriate
to accommodate differences in local law, tax policy or custom. Moreover, the Committee may