OPTION AGREEMENT - Consumer Portfolio Services, Inc.
THIS OPTION AGREEMENT (this "Agreement") IS THE "OPTION AGREEMENT" REFERRED TO ON
THE REVERSE SIDE OF THIS PAGE. THE REVERSE SIDE OF THIS PAGE IS CAPTIONED
"Notice of Grant of Stock Options and Option Agreement" (herein, the "Notice").
The Notice and this Agreement are to be read and interpreted as ONE DOCUMENT and are hereafter referred
to, together, as "this Option."
This Option is by and between Consumer Portfolio Services, Inc., a California corporation (referred to herein,
together with its subsidiaries, as the "Company" or "Consumer Portfolio Services") and the "Employee."
This Option is issued pursuant to the Company's 1997 Long-Term Incentive Plan (referred to herein as the "Plan"
or "Company's Stock Option Plan") and is designated by the Option Number recorded on the Notice.
Capitalized terms used in this Option and not otherwise defined have the meanings given in the Plan. As used in
this Option, the following terms have the meanings given below:
"Employee" means the individual named on the Notice
"Date of Grant" means the date recorded next to the word "Effective" on the Notice
"Expiration Date" means the date recorded one or more times under the word "Expiration" in the Notice
"Maximum Grant" means the number preceding the word "shares" in the first paragraph of the Notice
"Option Price" means the price per share of the stock as recorded in the first paragraph of the Notice
1, GRANT OF OPTION. The Company hereby grants to Employee the option to purchase, upon and subject
to the terms and conditions of this Option and of the Plan, all or any part of the Maximum Grant of the
Company's common stock (also referred to in the Notice as "stock"), at the Option Price specified above. The
shares so purchased or available for purchase are referred to herein as the "Option Shares." This Option is
intended to qualify as an incentive option within the meaning of Section 422 of the Internal Revenue Code of