Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 491

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 491
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, 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 11,111 shares of Common Stock.

F-54

On March 19, 2024 we entered
into a settlement agreement with the Sponsor and SPAC Sponsor Capital Access (“SCA”) pursuant to which, among other things,
we agreed to repay Sponsor’s debt to SCA, related to the CLIN SPAC entity extensions, in the amount of $1.4 million and issue 9,000
shares of restricted common stock valued at $11.75 per share to SCA. 

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.

On April 25, 2024, Joseph
E. Duey, the Company’s Chief Financial Officer, resigned, effective as of April 30, 2024. Mr. Duey advised the Company that his
decision to step down from the role of Chief Financial Officer was not based on any disagreement with the Company on any matter relating
to its operations, policies, or practices. Mr. Duey is pursuing outside interests not in the renewable energy industry. Vincent Browne,
the Company’s Chief Executive Officer, is acting as interim Chief Financial Officer. The Company will be seeking a suitable replacement
in due course.

On May 15, 2024, Mohammed
Javade Chaudhri, a Class I director of the Company, resigned from the Company’s Board of Directors (the “Board”) effective
immediately. Mr. Chaudhri’s decision to resign from the Board is solely for personal reasons and is not the result of any disagreement
with the Company’s operations, policies, or procedures, or any disagreements in respect of accounting principles, financial statement
disclosure, or any issue impacting on the committees of the