Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 89

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 89
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 this Plan shall vest no earlier than the first anniversary of the date
the Award is granted; provided, however, that the Committee may grant Awards without regard to the foregoing minimum vesting requirement
with respect to a maximum of 5% of the shares of Common Stock subject to the Share Limit, as adjusted pursuant to Section 5(e). For purposes
of Awards to Non-Employee Directors, such Award will be deemed to vest no earlier than the first anniversary of the date of grant of the
Award if such Award vests on the earlier of (A) the date of the next annual meeting of shareholders (which date is at least 50 weeks after
the immediately preceding year’s annual meeting of shareholders) and (B) the first anniversary of the date of grant. For the avoidance
of doubt, this Section 15(a) shall not be construed to limit the Committee’s Discretion to provide for an Award to be Accelerated,
or deem an Award to be earned, including in cases of death, Disability, Retirement, termination without cause or a Change of Control.

(b)
Transferability; Exercisability.Notwithstanding any other provision of this Plan to the contrary, no Award (other than Unrestricted
Stock), and no right under any such Award, shall be assignable, alienable, saleable, pledged, hypothecated, encumbered or transferable
by a Participant otherwise than by will or by the laws of descent and distribution, unless and to the extent the Committee uses its Discretion
to allow a Participant to: (i) designate in writing a beneficiary to exercise the Award after the Participant’s death; or (ii) transfer
an Award, provided that, unless approved by shareholders, in no event shall any Award be transferable for consideration or any Stock Option
or Stock Appreciation Right (either granted independently or in tandem) be transferable to third-party financial institutions. Each Award,
and each right under any Award, shall be exercisable during the lifetime of the Participant only by such individual or, if permissible
under applicable law, by such individual’s guardian or legal representative.

(c)
Effect of Termination of Employment or Service.The Committee shall have the Discretion to determine and set forth in the Award Agreement, at the time an Award 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 employment, offer letter, retention,