Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 161

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 161
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 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 US 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 US 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. 110 Family Relationships No family relationship exists between any of Alternus’ directors and executive officers. There are no arrangements or understandings with major shareholders, customers, suppliers or others pursuant to which any person referred to above was selected as a director or member of senior management. Director Independence We use the definition of “independence” of The NASDAQ Stock Market to make this determination. NASDAQ Listing Rule 5605(a)(2) provides that an “independent director” is a person other than an officer or employee of the company or any other individual having a relationship, which, in the opinion of the Company’s Board, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. The NASDAQ listing rules provide that a director cannot be considered independent if:

| ● | The director is, or at                                                                                                                      
 any time during the past three years was, an employee of the company;                                                                       |
| ● | The director or a family                                                                                                                    
 member of the director accepted any compensation from the company in excess of $120,000 during any period of 12 consecutive months          
 within the three years preceding the independence determination (subject to certain exclusions, including, among other things, compensation 
 for board or board committee service);                                                                                                      |

| ● | A family member of the                                                                            
 director is, or at any time during the past three years was, an executive officer of the company; |

| ● | The director or a family                                                                                                            
 member of the director is a partner in, controlling shareholder of, or an executive officer of an entity to which the company