Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 27

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 27
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 the Committee. Unless sooner terminated, the 2025 Equity Plan will terminate 10 years after its
approval by shareholders, and no Awards may be awarded under the 2025 Equity Plan thereafter. The termination of the 2025 Equity Plan
will not affect the validity of any Award outstanding on the date of termination.

For purposes of conforming to any changes in applicable
law or governmental regulations, or for any other lawful purpose, the Board or the Committee has the right, without approval of the Company’s
shareholders, to amend or revise the terms of the 2025 Equity Plan at any time; however, no such amendment or revision may (i) with
respect to the 2025 Equity Plan, increase the Share Limit or with respect to which Awards may be made to individual Participants (other
than anti-dilution adjustments), materially change the class of persons eligible to be Participants under the 2025 Equity Plan, materially
increase the benefits accruing to Participants under the 2025 Equity Plan, or increase the non-employee director limit without approval
or ratification of the shareholders of the Company; or (ii) with respect to an Award previously granted under the 2025 Equity Plan,
materially adversely affect the rights of any affected Participant in the 2025 Equity Plan under any such Award without the consent of
such Participant subject to certain exceptions.

TRANSFERABILITY/EXERCISABILITY

Notwithstanding any other provision of the 2025
Equity Plan to the contrary, no Award (other than Unrestricted Stock), and no right under any such Award, will 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 for consideration without shareholder approval; provided
no Stock Options or SARs may be transferred for value or to third-party financial institutions without shareholder approval. Each Award,
and each right under any Award, will 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.

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EFFECT OF TERMINATION OF EMPLOYMENT OR SERVICE

The Committee will have the discretion to determine
and set forth in the Award agreement, at the time an Award