Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 956

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1C
Chunk 956
---
 Events of Default, including but not limited to (i) the Company’s failure to
pay any amount of principal, interest, redemption price or other amounts due under the Notes or any other transaction document, (ii)
any default under, redemption of, or acceleration prior to maturity of any indebtedness of the Company, as such term is defined in the
transaction documents, (iii) bankruptcy of the Company or its subsidiaries, (iv) a final judgement or judgements for the payment of money
in excess of $250,000, which is not discharged or stayed pending appeal within 60 days, and (v) any breach or failure to comply with
any provision of the Note or any other transaction document. Upon the occurrence of any Event of Default and at any time thereafter,
the Purchasers shall have the right to exercise all of the remedies under the Notes.

Maxim served as the placement
agent in the Offering, pursuant to the terms of a Placement Agency Agreement and received 8% of the gross proceeds of the Offering, and
placement agent warrants to purchase up to 76,303 shares of common stock at $0.4059 per share (the “Placement Agent Warrants”)
and reimbursement of the legal fees of its counsel of up to $50,000. The Placement Agent Warrants will be exercisable on the six (6)
month anniversary of issuance and will expire on the five (5) year anniversary of issuance.

On January 28, 2025, John
McQuillan, a Class I director of the Company, notified the Company that they will resign 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. Wikborg will serve as
an independent director until the Company’s 2025 annual meeting of stockholders.

F-56

On February 6, 2025, 3i converted
$85,113 of the October Convertible Note into 113,485 shares of unrestricted common stock valued