Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2711

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 8
Chunk 2711
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 Duey resigned effective
April 30, 2024.

Taliesin Durant

The Company and Ms. Durant
entered into an employment agreement under which Ms. Durant receives an annual base salary of $190,000 and a cash bonus of up to
100% of her salary based on achieving certain milestones. In addition, she is eligible to receive certain equity and/or equity-based
awards under the Company’s long-term incentive compensation plan(s), none of which has been issued at this time. This agreement
has a five-year initial term.

The Company may terminate
her employment agreement for “Cause” which is defined as any of the following: (i) the conviction of a felony, or a
crime involving dishonesty or moral turpitude; (ii) fraud, misappropriation or embezzlement; or (iii) willful failure or gross
negligence in the performance of assigned duties, which failure or negligence continues for more than thirty (30) days following written
notice of such failure or negligence. If the executive’s employment is terminated by Alternus without Cause during the term of
the Employment agreement, the Alternus must give two weeks’ prior written notice and shall pay severance pay equal to one year
of base salary. If Alternus closes a ‘Change in Control’ transaction, then the employment agreement will automatically terminate,
and the Company shall pay severance pay equal to two years of base salary and any unvested stock shall automatically become fully vested.
The executive may terminate the employment agreement for Good Reason (as defined in such employment agreement) with 90 days’ notice,
and Alternus shall be obligated to pay the executive severance pay equal to one year of base salary.

Outstanding Equity
Awards at Fiscal Year-End

As of December 31, 2023 and
2024, the Company currently does not have any outstanding awards or options underlying its current Incentive Plan (as defined below).

Director Compensation
Table

The following table provides
information concerning compensation paid to our directors during fiscal year ended December 31, 2024.

Members of the Board of Directors
of the predecessor entity, Clean Earth Acquisition Corporation, did not receive fees for their services in 2024.

Mr. Brown’s compensation
was as a paid executive in 2024 and he did not receive compensation for his services as a board member.

    Name 
    Fee Earned / Paid in  Cash
    ($)