Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 178

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 178
---
 judgment for $1.5 million due
under a settlement agreement, plus interest to date in the amount of approximately $225,000, plus attorney’s fees of
approximately $26,000. The parties are currently in further settlement discussions.

On May 8, 2025, the Company,
Alternus Energy Group PLC (AEG) and one of AEG’s subsidiaries, Alternus Energy Americas Inc. (AEA), was served a Demand for Arbitration
through JAMS in Washington DC by Orrick, Herrington and Sutcliffe LLP (“Orrick”), claiming that approximately $1 million is
due and owed to Orrick pursuant to an engagement agreement entered into with AEA, plus interest. The Company intends to vigorously defend
itself in this matter and intends to file a motion to dismiss itself from the arbitration as the Company was not a party to this engagement
agreement nor is AEA a subsidiary of the Company.

20

Commitments

On October 14, 2024, the Company
entered into a settlement agreement and release with Morgan Franklin Consulting LLC (“MF”) related to the settlement of payments
owed to MF for services rendered in the total amount of $276,796 through twelve equal monthly installments commencing in October of 2024.
As of December 31, 2024 and the date of this Report, the Company had not made any of these payments but has agreed to repay this amount
by March 31, 2026, and MF has agreed not to pursue payment until March 31, 2026 at which time MF expects to use all actions available
to recover the amount due.

CFGI LP and the Company entered
into a settlement agreement for a contractual amount owed for services rendered in the amount of $358,000, whereby the Company shall pay
to CFGI approximately $10,000 per month commencing June 2, 2025 for a period of three years. As of the date of this Report, the Company
has failed to make all of the payments.

On April 28, 2025, the Company
entered into a Settlement Agreement and Stipulation (the “Agreement”) with Southern Point Capital Corporation (“SPC”),
pursuant to which the Company agreed to issue Common Stock to SPC in exchange for the settlement of an aggregate of $4,242,964 (the “Settlement
Amount”) to resolve outstanding overdue liabilities with different vendors. On May 1, 2025, the Circuit