Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 72

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 72
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 Common Stock on such market) on Nasdaq, (ii) if the Common Stock is not listed on such an exchange
but is traded in an over-the-counter market, the last sales price (or, if there is no last sales price reported, the average of the last
bid and asked prices) for Common Stock on the particular date, or the last preceding date on which there was a sale of Common Stock on
such market, or (iii) if the Common Stock is not listed on an exchange or market referenced in clauses (i) or (ii), then the price determined
in good faith by the Committee on the basis of such considerations as the Committee deems appropriate from time to time. The Committee
also shall establish the Fair Market Value of any other property. Notwithstanding the foregoing, in the case of an Award intended to be
exempt from Section 409A of the Code, the Fair Market Value of such Award shall be determined in accordance with Section 409A of the Code.

(w)
“Incentive Option” means an option to purchase Common Stock that meets the requirements set forth in this Plan and
also meets the definition of an incentive stock option set forth in Section 422 of the Code.

(x)
“Misconduct” means any of the following; provided, however, that with respect to Non-Employee Directors, “Misconduct”
shall mean subsection (viii) only: (i) any material breach of an agreement between the Participant and the Company or any Subsidiary
which, if curable, has not been cured within 20 days after the Participant has been given written notice of the need to cure such breach,
or which breach, if previously cured, recurs, (ii) willful unauthorized use or disclosure of confidential information or trade secrets
of the Company or any Subsidiary by the Participant, (iii) the Participant’s continued willful and intentional failure to satisfactorily
perform Participant’s essential responsibilities, provided that the Participant has been given at least 30 days’ written notice
of the need to cure the failure and cure has not been effected within that time period, or which failure, if previously cured, recurs,
(iv) material failure of the Participant to comply with rules, policies or procedures of the Company or any Subsidiary as they may be
amended from time to time, provided that the Participant has been given at least 30 days’ written notice of the need to cure the
failure, if such failure is curable,