Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1662

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 4
Chunk 1662
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 Rolf S. Wikborg
is qualified to serve on the Board of Directors of the Company due to his international experience, previous and current board positions
in the US and Norway as well as his knowledge of the renewable energy industry.

Corporate Governance

Board Leadership Structure

Our chairman of the board
of directors is Vincent Browne, who is also our Chief Executive Officer and Interim Chief Financial Officer. Our board of directors has
concluded that our current leadership structure is appropriate at this time. However, our board of directors will continue to periodically
review our leadership structure and may make such changes in the future as it deems appropriate.

Role of Board in
Risk Oversight Process

Our board of directors has
responsibility for the oversight of our risk management processes and, either as a whole or through its committees, regularly discusses
with management our major risk exposures, their potential impact on our business and the steps we take to manage them. The risk oversight
process includes receiving regular reports from board committees and members of senior management to enable our board of directors to
understand our risk identification, risk management and risk mitigation strategies with respect to areas of potential material risk,
including operations, finance, legal, regulatory, strategic and reputational risk.

The audit committee reviews
information regarding liquidity and operations and oversees our management of financial risks. Periodically, the audit committee reviews
our policies with respect to risk assessment, risk management, loss prevention and regulatory compliance. Oversight by the audit committee
includes direct communication with our external auditors, and discussions with management regarding significant risk exposures and the
actions management has taken to limit, monitor or control such exposures. The compensation committee is responsible for assessing whether
any of our compensation policies or programs has the potential to encourage excessive risk-taking. The nominating and corporate governance
committee manages risks associated with the independence of the board of directors, corporate disclosure practices and potential conflicts
of interest. While each committee is responsible for evaluating certain risks and overseeing the management of such risks, the entire
board of directors is regularly informed through committee reports about such risks. Matters of significant strategic risk are considered
by our board of directors as a whole.

Composition of the
Board of Directors

The board of directors is
divided into three classes of directors (Class I, Class II and Class III), with each class serving for staggered three-year terms. Vincent
Browne, John P. Thomas and Aaron T. Ratner constitute the Class III directors;, Nicholas Parker and Tone Bjornov