Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1873

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 5
Chunk 1873
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Adjustment Date”) by an amount equal to
the lesser of (i) that number of shares equal to 15% of the outstanding shares of Common Stock on the applicable Adjustment Date,
less (a) the number of shares of Common Stock that may be issued under the Plan prior to the Adjustment Date, and (b) the number
of shares of Common Stock that may be issued under any other stock option plan of the Company in effect as of the Adjustment Date; or
(ii) such lesser number of shares of Common Stock as may be determined by the Board.

On March 24, 2025, the Company
incorporated a new wholly owned subsidiary, EverOn Energy LLC.

On March 25, 2025, one of
the Company’s subsidiaries, AEG MH02, entered into a Share Purchase Agreement with Alternus Energy Group Plc, a related party,
for the sale of the entire issued share capital of Alt Spain HoldCo S.l.u., including all of its subsidiaries: ALT Spain 03, S.L.U.,
ALT Spain 04, S.L.U. and New Frog Projects SL, for a total consideration of €10.00.

F-57

In April 2025, the Compensation
Committee and the Board of Directors ratified amendments to each of VestCo Corp. (a company owned and controlled by Mr. Browne) and Mr.
Thomas’ consulting services agreements, such that these agreements were assigned to the Company and VestCo’s fees increased
by $10,000 per month and Mr. Thomas’ fees increased by $8,090 per month, effective January 1, 2025.

On April 21, 2025 the Company
issued a total of 96,820,000 shares of restricted common stock valued at $2,904,600, including 11,000,000 shares to Alternus Energy Group
PLC, a related party, 3,000,000 shares to each of our 4 current independent directors (Ms. Bjornov, Mr. Wikborg, Mr. Parker and Mr. Ratner)
and one past director, Mr. Chaudhri, 15,000,000 shares each to Mr. Browne, our CEO, and Mr. Thomas, our executive director, 5,000,000
shares to Ms. Durant, our CLO, 2,500,000 shares to an employee for past services rendered, 5,750,000 shares to Hover