Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 263

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 263
---
 capital stock) in favor of the approval of the Business Combination and against any other
transactions, as well as to waive its redemption rights, agree to not transfer securities of the Company, and waive any anti-dilution
or similar protections with respect to founder shares.

In order to fund working capital
deficiencies or finance transaction costs in connection with a business combination, the Sponsor initially loaned $ to the Company,
in accordance with an unsecured promissory note (the “WC Note”) issued on September 26, 2022, under which up to $
may be advanced. On August 8, 2023, the Company issued an additional $ promissory note to the Sponsor to fund the Second WC Note.
The Second WC Note is non-interest bearing and payable on the date which the Company consummates its initial Business Combination. Both
of these notes were settled on the Business Combination closing date in exchange for shares of the Company’s common stock.

On December 18, 2023, the Sponsor
entered into a non-redemption agreement (the “NRA”) with the Company and the investor named therein (the “Investor”).
Pursuant to the terms of the NRA, among other things, the Investor agreed to withdraw redemptions in connection with the Business Combination
on any Common Stock, held by the Investor and to purchase additional Common Stock from redeeming stockholders of the Company such that
the Investor will be the holder of no fewer than shares of Common Stock.

D&O:

In connection with the Business
Combination Closing, the Company entered into indemnification agreements (each, an “Indemnification Agreement”) with its
directors and executive officers. Each Indemnification Agreement provides for indemnification and advancements by the Company of certain
expenses and costs if the basis of the indemnitee’s involvement in a matter was by reason of the fact that the indemnitee is or
was a director, officer, employee, or agent of the Company or any of its subsidiaries or was serving at the Company’s request in
an official capacity for another entity, in each case to the fullest extent permitted by the laws of the State of Delaware.

F-40

Consulting Agreements:

On May 15, 2021 VestCo Corp.,
a company owned and controlled by our Chairman and CEO, Vincent Browne, entered into a Professional Consulting Agreement with one of
our US subsidiaries under which it pays VestCo a monthly fee of $. This agreement has a five year