Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 199

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 199
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ov, Mr. Wikborg, Mr. Parker and Mr. Ratner) and
one past director, Mr. Chaudhri, 75,000 shares each to Mr. Browne, our CEO, and Mr. Thomas, our executive director, 25,000 shares to Ms.
Durant, our CLO.

On April 24, 2025 the Company’s
Board increased the total shares designated as Series A by 50,000 and issued those additional 50,000 shares of Series A Super Voting Preferred
Stock to Mr. Browne.

33

On April 25, 2025, Mr. Vincent
Browne, our CEO, Interim CFO and shareholder with majority voting rights, representing 87% of the shares entitled to vote, approved an
amendment to our Certificate of Incorporation to increase the total number of authorized shares of common stock from 300,000,000 to 600,000,000.

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 $16,000. This agreement has a five-year initial term and automatically extends
for additional one-year terms unless otherwise unilaterally terminated. Effective January 1, 2025, the Compensation Committee and the
Board of Directors ratified an amendment to this consulting services agreement, such that it was assigned to the Company and VestCo’s
fees increased by $10,000 per month.

In July of 2023, John Thomas,
one of our directors, entered into a Consulting Services Agreement with one of our US 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. Effective January 1, 2025, the Compensation Committee and the Board of Directors ratified an amendment to this consulting
services agreement, such that it was assigned to the Company and the fees increased by $8,090 per month.

    Six Months Ended June 30, 
  
    Director’s remuneration 
    2025  
    2024 

    (in thousands) 
  
    Remuneration in respect of services as directors 
    $270  
    $362 
  
    Remuneration in respect to long