Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 71

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 71
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 20.

| A-2 |

(s)
“Eligible Director” shall mean (i) a “non-employee director” within the meaning of Rule 16b-3 promulgated
under the Exchange Act and (ii) an “independent director” under the rules of Nasdaq or any other securities exchange or inter-dealer
quotation service on which the Common Stock is listed or quoted, or a person meeting any similar requirement under any successor rule
or regulation.

(t)
“Employee”shall mean any Person, including an officer, who is a common law employee of, receives remuneration
for personal services to, is reflected on the official human resources database as an employee of, and is on the payroll of the Company
or any Subsidiary of the Company. A person is on the payroll if he or she is paid from or at the direction of the payroll department of
the Company, or any Subsidiary of the Company. Persons providing services to the Company, or to any Subsidiary of the Company, pursuant
to an agreement with a staff leasing organization, temporary workers engaged through or employed by temporary or leasing agencies, and
workers who hold themselves out to the Company, or a Subsidiary to which they are providing services as being independent contractors,
or as being employed by or engaged through another company while providing the services, and persons covered by a collective bargaining
agreement (unless the collective bargaining agreement applicable to the person specifically provides for participation in this Plan) are
not employees for purposes of this Plan and do not and cannot participate in this Plan, whether or not such persons are, or may be reclassified
by the courts, the Internal Revenue Service, the U.S. Department of Labor, or other person or entity as, common law employees of
the Company, or any Subsidiary, either solely or jointly with another person or entity.

(u)
“Exchange Act” means the Securities Exchange Act of 1934, as amended. Any reference to a specific provision of the
Exchange Act includes any successor provision and the rules and regulations promulgated under such provision.

(v)
“Fair Market Value” with respect to a share of Common Stock as of any date means (i) the closing sales price for a
share of Common Stock on such day (or, if such day is not a trading day or no sales of Common Stock occur on such date, on the preceding
trading day on which there was a sale of