Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1640

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 4
Chunk 1640
---
’s request in
an official capacity for another entity, in each case to the fullest extent permitted by the laws of the State of Delaware.

On April 25, 2024, Joseph
E. Duey, the Company’s Chief Financial Officer, resigned, effective as of April 30, 2024. Mr. Duey advised the Company that his
decision to step down from the role of Chief Financial Officer was not based on any disagreement with the Company on any matter relating
to its operations, policies, or practices. Mr. Duey is pursuing outside interests not in the renewable energy industry. Vincent Browne,
the Company’s Chief Executive Officer, is acting as interim Chief Financial Officer. The Company will be seeking a suitable replacement
in due course.

On May 15, 2024, Mohammed
Javade Chaudhri, a Class I director of the Company, resigned from the Company’s Board of Directors (the “Board”) effective
immediately. Mr. Chaudhri’s decision to resign from the Board is solely for personal reasons and is not the result of any disagreement
with the Company’s operations, policies, or procedures, or any disagreements in respect of accounting principles, financial statement
disclosure, or any issue impacting on the committees of the Board on which he served.

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 United States 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.

In July of 2023, John Thomas,
one of our directors, entered into a Consulting Services Agreement with one of our United States 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.

    Year Ended December 31, 
  
    Transactions with Directors 
    2024  
    2023 

    (in thousands) 
  
    Loan from Vestco, a related party to Board member and CEO Vincent Browne 
    $      -  
    $210 
  
    Final payment made to Vestco on November 16, 2023 
     -  
     (210)