Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1205

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 2
Chunk 1205
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 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 constitute
the Class II directors; Rolf Wikborg constitutes the Class I director. The initial term of the Class II directors shall expire immediately
following the Company’s 2025 annual general meeting at which directors are appointed. The initial term of the Class III directors
shall expire immediately following the Company’s 2026 annual meeting at which directors are appointed. The current term of the
Class I director shall expire immediately following the Company’s 2027 annual general meeting of the Company at which directors
are appointed.

75

Director Independence

The board of directors consists
of six directors, three of whom are “independent” within the meaning of Section 5605(a)(2) of the Nasdaq Listing Rules and
meet the criteria for independence set forth in Rule 10A