Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 197

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 197
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 AEG’s €8m note. This resulted in Nordic ESG becoming a 10% shareholder. As of June 30, 2024 Nordic ESG was
a 9.7% shareholder; As of December 31, 2024 Nordic ESG was a 6.5% shareholder, and as of June 30, 2025 Nordic ESG held less than 1%.

32

Sponsor:

On March 19, 2024 we entered
into a settlement agreement with the Clean Earth Acquisitions Sponsor LLC (“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 Sponsor’s SPAC entity extensions,
in the amount of $1.4 million and issue 45 shares of restricted common stock valued at $2,350 per share to SCA. As of June 30, 2024
and 2025, Sponsor was a 4% and less than 1% shareholder, respectively.

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 January 28, 2025, John
McQuillan, a Class I director of the Company, resigned from the Company’s Board of Directors (the “Board”) effective
immediately.

On January 28, 2025, Rolf
Wikborg was elected to the Board effective immediately. The Board assessed the independence of Mr. Wikborg under the Company’s Corporate
Governance Guidelines and the independence standards under Nasdaq rules and has determined that Mr. Wikborg is independent. Along
with their appointment, Mr. Wikborg was appointed to serve on the Audit Committee, as well as the Chair of the Compensation Committee,
and as a member of the Nominating and Corporate Governance Committee of the Company, effective immediately. Mr