Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 142

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 142
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 member of the director accepted any compensation from the company in excess of $120,000 during any period of twelve (12) consecutive 
 months within the three (3) years preceding the independence determination (subject to certain exemptions, including, among other    
 things, compensation for board or board committee service);                                                                          |

| ● | the director or a family                                                                                                            
 member of the director is a partner in, controlling shareholder of, or an executive officer of an entity to which the company made, 
 or from which the company received, payments in the current or any of the past three fiscal years that exceed 5% of the recipient’s 
 consolidated gross revenue for that year or $200,000, whichever is greater (subject to certain exemptions);                         |

98

| ● | the director or a family                                                                                                           
 member of the director is employed as an executive officer of an entity where, at any time during the past three (3) years, any of 
 the executive officers of the company served on the compensation committee of such other entity; or                                |

| ● | the director or a family                                                                                                     
 member of the director is a current partner of the company’s outside auditor, or at any time during the past three (3) years 
 was a partner or employee of the company’s outside auditor, and who worked on the company’s audit.                           |

Under such definitions, our Board has undertaken a review of the independence of each director. Based on the information provided by each director concerning his or her background, employment, and affiliations, our Board has determined that Nicholas Parker and Tone Bjornov, satisfy the “independence” requirements under Nasdaq Rule 5605. Board Committees The Board has established three standing committees: (i) audit committee (the “ Audit Committee”); (ii) compensation committee (the “ Compensation Committee”); and (iii) nominating and corporate governance committee (the “ Nominating and Corporate Governance Committee”). Each of the committees operates pursuant to its charter. The committee charters will be reviewed annually by the Nominating and Corporate Governance Committee. If appropriate, and in consultation with the chairs of the other committees, the Nominating and Corporate Governance Committee may propose revisions to the charters. The responsibilities of each committee are described in more detail below. Audit Committee.The Audit Committee consists of two directors, Tone Bjornov, and Nicholas Parker, both of whom are currently “independent” as defined by Nasdaq. Tone Bjornov serves as the audit committee chairman and