Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1183

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 2
Chunk 1183
---
, 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 Board on which he served.

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 United States subsidiaries under which it pays VestCo a monthly fee of $16,000. This agreement has a five-year initial term and automatically
extends for additional one-year terms unless otherwise unilaterally terminated.

In July of 2023, John Thomas,
one of our directors, entered into a Consulting Services Agreement with one of our United States subsidiaries under which it pays Mr.
Thomas a monthly fee of $11,000. This agreement has a five-year initial term and automatically extends for additional one-year terms
unless otherwise unilaterally terminated.

    Year Ended December 31, 
  
    Transactions with Directors 
    2024  
    2023 

    (in thousands) 
  
    Loan from Vestco, a related party to Board member and CEO Vincent Browne 
    $      -  
    $210 
  
    Final payment made to Vestco on November 16, 2023 
     -  
     (210)
  
    Total 
    $-  
    $- 

    Year Ended December 31, 
  
    Director’s remuneration 
    2024  
    2023 

    (in thousands) 
  
    Remuneration in respect of services as directors 
    $292  
    $385 
  
    Remuneration in respect to long term incentive schemes 
     -  
     - 
  
    Total 
    $292  
    $385 

F-55

    26.
    Subsequent Events

Management has evaluated
subsequent events that have occurred through the date the financial statements were issued and has determined that there were no subsequent
events that required recognition or disclosure in the financial statements as of and for