Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 61

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 automatically extends for additional one-year terms unless otherwise unilaterally
terminated. Effective January 1, 2025, the Compensation Committee and the Board of Directors ratified an amendment to this consulting
services agreement, such that it was assigned to the Company and the fees increased by $8,090 per month.

    Six Months Ended June 30, 
  
    Director’s remuneration 
    2025  
    2024 

    (in thousands) 
  
    Remuneration in respect of services as directors 
    $270  
    $362 
  
    Remuneration in respect to long-term incentive schemes – restricted shares 
     1,800  
     - 
  
    Total 
    $2,070  
    $362 

22. Subsequent Events

Management has evaluated subsequent
events that occurred through the date the financial statements were issued and has determined that there were no subsequent events that
required recognition or disclosure in the financial statements as of and for the period ended June 30, 2025, except as disclosed
below.

Additional Notes:

On August 7, 2025, the Company issued a promissory
note to an accredited investor in the aggregate total principal amount of $144,000, having a 16.67% original issue discount, an interest
rate of 12% per annum and a maturity date of August 30, 2025 (the “Note”). The Company received gross proceeds of $120,000,
before fees and other expenses associated with the transaction.

In September 2025, the Company entered into two
Note Purchase Agreements with two accredited investors (the “Investors”), pursuant to which the Company issued two 20% Original
Issue Discount promissory convertible notes (the “September Notes”) with a maturity date of December 2025, each in the principal
sum of $312,500. Pursuant to the terms of the September Notes, the Company agreed to pay to the Investors the entire principal amount
on the Maturity Date, failing which and certain events of default (as described in the September Notes), the 20% Original Issue Discount
shall increase 5% each month thereafter until the September Notes are fully repaid. The Purchase Agreements resulted in total net proceeds
of $500,000 to the Company, which the Company is using for working capital purposes. The September Notes are convertible at the option
of the Holder at any time after the Maturity Date,