Exhibit 10.1


 


[●],
2020 


 


 


DD3
Acquisition Corp. II


Pedregal
24, 3rd Floor, Interior 300


Colonia
Molino del Rey, Del. Miguel Hidalgo


11040
Mexico City, Mexico


 


EarlyBirdCapital,
Inc.


366
Madison Ave., 8th Floor


New
York, NY 10017


 


	 	Re:	Initial
    Public Offering


 


Ladies
and Gentlemen:


 


This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
entered into by and between DD3 Acquisition Corp. II, a Delaware corporation (the “Company”), and EarlyBirdCapital,
Inc. as representative (the “Representative”) of the several underwriters named in Schedule I thereto
(the “Underwriters”), relating to an underwritten initial public offering (the “IPO”)
of the Company’s units (the “Units”), each comprised of one share of the Company’s Class
A common stock, par value $0.0001 per share (the “Common Stock”), and one-half of one warrant, each
whole warrant exercisable for one share of Common Stock (each, a “Warrant”). Certain capitalized terms
used herein are defined in paragraph 13 hereof.


 


In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the IPO, and in
recognition of the benefit that such IPO will confer upon the undersigned, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, each of the undersigned hereby agrees with the Company as follows:


 


1. If the Company solicits
approval of its stockholders of a Business Combination, the undersigned will vote all shares of Capital Stock beneficially owned
by him, her or it, whether acquired before, in, or after the IPO, in favor of such Business Combination; provided, however, that
this paragraph 1 shall not apply to Baron Capital Group, Inc. or its affiliates.


 


2.
(a) In the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
Amended and Restated Certificate of Incorporation, as the same may be amended from time to time (the “Certificate
of Incorporation”), the undersigned will, as promptly as possible, cause the Company to (i) cease all operations
except for the purpose of winding up, (ii) as promptly as reasonably possible, but not more than 10 business days thereafter,
redeem 100% of the outstanding IPO Shares at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account, including any interest earned on the Trust Account not previously released to the Company but net of taxes
payable, divided by the number of then outstanding IPO Shares, which redemption will completely extinguish public stockholders’
rights as stockholders (including the right to receive further liquidation distributions, if any), subject to applicable law,
and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining
stockholders and the Company’s board of directors, dissolve and liquidate, subject in the cases of clauses (ii) and (iii)
to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable
law.


 


(b)
The undersigned hereby waives any and all right, title, interest or claim of any kind in or to any distribution of the Trust Account
(“Claim”) with respect to the Founder Shares and Private Shares owned by the undersigned and hereby
waives any Claim the undersigned may have in the future as a result of, or arising out of, any contracts or agreements with the
Company and will not seek recourse against the Trust Account for any reason whatsoever. The undersigned acknowledges and agrees
that there will be no distribution from the Trust Account with respect to any Warrants, all rights of which will terminate on
the Company’s liquidation.


 






     


     


    


 


(c)
In the event of the liquidation of the Trust Account, the Sponsor agrees to indemnify and hold harmless the Company for any debts
and obligations to target businesses or vendors or other entities that are owed money by the Company for services rendered or
contracted for or products sold to the Company, but only to the extent necessary to ensure that such debt or obligation does not
reduce the amount of funds in the Trust Account below $10.00 per share; provided that such indemnity shall not apply (i) if such
vendor or prospective target business executed an agreement waiving any right, title, interest or claim of any kind they may have
in or to any monies held in the Trust Account, or (ii) as to any claims under the Company’s obligation to indemnify the
Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities
Act”). 


 


3.
The undersigned acknowledges and agrees that prior to entering into a Business Combination with a target business that is affiliated
with any Insiders of the Company or their affiliates, such transaction must be approved by a majority of the Company’s disinterested
independent directors and the Company must obtain an opinion from an independent investment banking firm, or another independent
entity that commonly renders valuation opinions, that such Business Combination is fair to the Company’s unaffiliated stockholders
from a financial point of view.


 


4. Except as contemplated
by that certain Forward Purchase Agreement, dated November 19, 2020, between the Company and MG Capital
Partners Multi-Strategy Fund LP, during the period commencing on the effective date of the Underwriting Agreement and ending
180 days after such date, each of the undersigned shall not, without the prior written consent of the Representative, (i) sell,
offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to
dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent
position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) promulgated
thereunder, with respect to any Units, shares of Common Stock, Founder Shares, Warrants or any securities convertible into, or
exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, (ii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, shares of Common Stock,
Founder Shares, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned
by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii)
publicly announce any intention to effect any transaction specified in clause (i) or (ii).


 


5.
Neither the undersigned nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation
or other cash payment or fees of any kind, including finder’s, consulting fees and other similar fees, prior to, or for
services rendered in order to effectuate, the consummation of the Business Combination; provided that the Company shall be allowed
to make the payments set forth in the Registration Statement under the caption “Prospectus Summary – The Offering
– Limited payments to insiders.”


 


6.
(a) The undersigned will place into escrow all Founder Shares owned by him/her/it pursuant to the terms of a Stock Escrow Agreement
which the Company will enter into with the undersigned, as applicable, and an escrow agent.


 


(b)
The undersigned agrees that all Private Units (and underlying securities) owned by him/her/it, as applicable, will be subject
to the transfer restrictions described in the Subscription Agreement relating to the Private Units.


 


7.
To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 1,500,000 Units
within 45 days from the date of the prospectus which forms a part of the Registration Statement (and as further described in the
Registration Statement), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares in the aggregate equal to 375,000
multiplied by a fraction, (i) the numerator of which is 1,500,000 minus the number of Units purchased by the Underwriters upon
the exercise of their over-allotment option, and (ii) the denominator of which is 1,500,000. The forfeiture will be adjusted to
the extent that the over-allotment option is not exercised in full by the Underwriters so that the Company’s initial stockholders
will own an aggregate of 20% of the Company’s issued and outstanding shares of Capital Stock after the IPO (excluding the
Private Shares and assuming the initial stockholders do not purchase any Units in the IPO).


 


8.
(a) In order to minimize potential conflicts of interest that may arise from multiple corporate affiliations, the undersigned
hereby agrees that until the earliest of the Company’s initial Business Combination, the Company’s liquidation or
the time that the undersigned ceases to be an officer or director of the Company, as applicable, the undersigned shall present
to the Company for its consideration, prior to presentation to any other entity, any suitable target business, subject to any
pre-existing fiduciary or contractual obligations the undersigned might have.


 






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(b)
The undersigned hereby agrees and acknowledges that (i) each of the Underwriters and the Company may be irreparably injured in
the event of a breach of any of the obligations contained in this letter, (ii) monetary damages may not be an adequate remedy
for such breach and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that
such party may have in law or in equity, in the event of such breach.


 


9.
The undersigned agrees to be an officer and/or director of the Company, as applicable, until the earlier of the consummation
by the Company of a Business Combination, the liquidation of the Trust Account or his or her removal, death or incapacity. In
the event of the removal or resignation of the undersigned as an officer and/or director of the Company, as applicable, the undersigned
agrees that he or she will not, prior to the consummation of the Business Combination, without the prior express written consent
of the Company, (i) use for the benefit of the undersigned or to the detriment of the Company or (ii) disclose to any third party
(unless required by law or governmental authority), any information regarding a potential target of the Company that is not generally
known by persons outside of the Company, the Sponsor, or their respective affiliates. The undersigned’s biographical information
previously furnished to the Company and the Representative, as applicable, is true and accurate in all respects and does not omit
any material information with respect to the undersigned’s background. The undersigned’s FINRA Questionnaire previously
furnished to the Company and the Representative is true and accurate in all respects. The undersigned represents and warrants
that:


 


	 	(a)	he/she/it
    has never had a petition under the federal bankruptcy laws or any state insolvency law been filed by or against (i) him/her/it
    or any partnership in which he/she/it was a general partner at or within two years before the time of filing; or (ii) any
    corporation or business association of which he/she/it was an executive officer at or within two years before the time of
    such filing;


 


	 	(b)	he/she/it
    has never had a receiver, fiscal agent or similar officer been appointed by a court for his/her/its business or property,
    or any such partnership;


 


	 	(c)	he/she/it
    has never been convicted of fraud in a civil or criminal proceeding;


 


	 	(d)	he/she/it/
    has never been convicted in a criminal proceeding or named the subject of a pending criminal proceeding (excluding traffic
    violations and minor offenses);


 


	 	(e)	he/she/it
    has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court
    of competent jurisdiction, permanently or temporarily enjoining or otherwise limiting him/her/it from (i) acting as a futures
    commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction
    merchant, any other person regulated by the Commodity Futures Trading Commission (“CFTC”) or an
    associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as
    an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company,
    or from engaging in or continuing any conduct or practice in connection with any such activity; or (ii) engaging in any
    type of business practice; or (iii) engaging in any activity in connection with the purchase or sale of any security
    or commodity or in connection with any violation of federal or state securities or federal commodities laws;


 


	 	(f)	he/she/it
    has never been the subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any federal
    or state authority barring, suspending or otherwise limiting for more than 60 days his/her/its right to engage in any activity
    described in paragraph 9(e)(i) above, or to be associated with persons engaged in any such activity;


 


	 	(g)	he/she/it
    has never been found by a court of competent jurisdiction in a civil action or by the SEC to have violated any federal or
    state securities law, where the judgment in such civil action or finding by the SEC has not been subsequently reversed, suspended
    or vacated;


 


	 	(h)	he/she/it
    has never been found by a court of competent jurisdiction in a civil action or by the CFTC to have violated any federal commodities
    law, where the judgment in such civil action or finding by the CFTC has not been subsequently reversed, suspended or vacated;


 






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	 	(i)	he/she/it
    has never been the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree or finding,
    not subsequently reversed, suspended or vacated, relating to an alleged violation of (i) any Federal or State securities or
    commodities law or regulation, (ii) any law or regulation respecting financial institutions or insurance companies including,
    but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary
    or permanent cease-and desist order, or removal or prohibition order or (iii) any law or regulation prohibiting mail or wire
    fraud or fraud in connection with any business entity;


 


	 	(j)	he/she/it
    has never been the subject of, or party to, any sanction or order, not subsequently reversed, suspended or vacated, or any
    self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that
    has disciplinary authority over its members or persons associated with a member;


 


	 	(k)	he/she/it
    has never been convicted of any felony or misdemeanor: (i) in connection with the purchase or sale of any security; (ii) involving
    the making of any false filing with the SEC; or (iii) arising out of the conduct of the business of an underwriter, broker,
    dealer, municipal securities dealer, investment advisor or paid solicitor of purchasers of securities;


 


	 	(l)	he/she/it
    was never subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
    (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the CFTC; or the National
    Credit Union Administration that is based on a violation of any law or regulation that prohibits fraudulent, manipulative,
    or deceptive conduct;


 


	 	(m)	he/she/it
    has never been subject to any order, judgment or decree of any court of competent jurisdiction, that, at the time of such
    sale, restrained or enjoined him/her/it from engaging or continuing to engage in any conduct or practice: (i) in connection
    with the purchase or sale of any security; (ii) involving the making of any false filing with the SEC; or (iii) arising out
    of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser or paid
    solicitor of purchasers of securities;


 


	 	(n)	he/she/it
    has never been subject to any order of the SEC that orders him/her/it to cease and desist from committing or causing a future
    violation of: (i) any scienter-based anti-fraud provision of the federal securities laws, including, but not limited to, Section
    17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Section 206(1) of the Investment
    Advisers Act of 1940, as amended (the “Advisers Act”), or any other rule or regulation thereunder;
    or (ii) Section 5 of the Securities Act;


 


	 	(o)	he/she/it
    has never been named as an underwriter in any registration statement or Regulation A offering statement filed with the SEC
    that was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, currently, the
    subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued;


 


	 	(p)	he/she/it
    has never been subject to a United States Postal Service false representation order, or is currently subject to a temporary
    restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute
    a scheme or device for obtaining money or property through the mail by means of false representations;


 


	 	(q)	he/she/it
    is not subject to a final order of a state securities commission (or an agency of officer of a state performing like functions);
    a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission
    (or an agency or officer of a state performing like functions); an appropriate federal banking agency; the Commodity Futures
    Trading Commission; or the National Credit Union Administration that bars the undersigned from: (i) association with an entity
    regulated by such commission, authority, agency or officer; (ii) engaging in the business of securities, insurance or banking;
    or (iii) engaging in savings association or credit union activities;


 






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	 	(r)	he/she/it
    is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of the Exchange Act or section 203(e) or
    203(f) of the Advisers Act that: (i) suspends or revokes the undersigned’s registration as a broker, dealer, municipal
    securities dealer or investment adviser; (ii) places limitations on the activities, functions or operations of, or imposes
    civil money penalties on, such person; or (iii) bars the undersigned from being associated with any entity or from participating
    in the offering of any penny stock; and


 


	 	(s)	he/she/it
    has never been suspended or expelled from membership in, or suspended or barred from association with a member of, a securities
    self-regulatory organization (e.g., a registered national securities exchange or a registered national or affiliated securities
    association) for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade.


 


10.
The undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this
letter agreement and to serve as a director and/or officer of the Company, as applicable.


 


11.
The undersigned hereby waives any right to exercise conversion rights with respect to any shares of Capital Stock owned or to
be owned by the undersigned, directly or indirectly (or to sell such shares to the Company in a tender offer), whether acquired
before, in or after the IPO, and agrees not to seek conversion with respect to such shares in connection with any vote to approve
a Business Combination (or sell such shares to the Company in a tender offer in connection with such a Business Combination) or
any amendment to the Certificate of Incorporation prior thereto (although the undersigned shall be entitled to conversion rights
with respect to any IPO Shares he/she/it holds if the Company fails to consummate a Business Combination within the time period
set forth in the Certificate of Incorporation). 


 


12.
The undersigned hereby agrees to not propose, or vote in favor of, any amendment to the Certificate of Incorporation (A) to modify
the substance or timing of the Company’s obligations with respect to conversion rights as described in the Registration
Statement or (B) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination
activity, unless the Company provides public stockholders with the opportunity to convert their IPO Shares upon the approval of
any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account,
including interest not previously released to the Company but net of taxes payable, divided by the number of then outstanding
IPO Shares.  


 


13.
In the event that the Company does not consummate a Business Combination and must liquidate and its remaining net assets are insufficient
to complete such liquidation, the Sponsor agrees to advance such funds necessary to complete such liquidation and agrees not to
seek repayment for such expenses.


 


14.
This letter agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
Each of the Company and the undersigned hereby (i) agrees that any action, proceeding or claim against him arising out of or relating
in any way to this letter agreement shall be brought and enforced in the courts of the State of New York of the United States
of America for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive
and (ii) waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum.


 


15.
As used herein, (i) a “Business Combination” means a merger, capital stock exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities;
(ii) “Insiders” means the Sponsor and all officers, directors and initial stockholders of the Company
immediately prior to the IPO; (iii) “Founder Shares” means all of the outstanding shares of Class B
common stock, par value $0.0001 per share, of the Company issued prior to the consummation of the IPO and shall be deemed to include
the shares of Common Stock issuable upon conversion thereof; (iv) “IPO Shares” means the shares of Common
Stock issued in the Company’s IPO; (v) “Capital Stock” means, collectively, the Common Stock and
the Founder Shares; (vi) “Private Units” means the units of the Company that the Sponsor and certain
other investors have agreed to purchase in a private placement simultaneously with the consummation of the IPO, and “Private
Shares” means the shares of Common Stock included in the Private Units; (vii) “Trust Account”
means the trust account into which a portion of the net proceeds of the IPO will be deposited; (viii) “Registration
Statement” means the Company’s registration statement on Form S-1 (File No. 333-[●]) filed with the
SEC and (ix) “Sponsor” means DD3 Sponsor Group, LLC, a Delaware limited liability company.


 






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16.
This letter agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This letter agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by all parties hereto.


 


17.
Each of the undersigned acknowledges and understands that the Underwriters and the Company will rely upon the agreements, representations
and warranties set forth herein in proceeding with the IPO. Nothing contained herein shall be deemed to render the Underwriters
a representative of, or a fiduciary with respect to, the Company, its stockholders or any creditor or vendor of the Company with
respect to the subject matter hereof.


 


18.
No party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on each of the undersigned and their respective successors, heirs and assigns and permitted transferees.


 


19.
Nothing in this letter agreement shall be construed to confer upon, or give to, any person or corporation other than the parties
hereto any right, remedy or claim under or by reason of this letter agreement or of any covenant, condition, stipulation, promise
or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this letter agreement shall
be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns
and permitted transferees.


 


20.
This letter agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall
for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.


 


21.
This letter agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall
not affect the validity or enforceability of this letter agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
letter agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and
enforceable.


 


22.
Any notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or electronic transmission.


 


23.
This letter agreement shall terminate on the earlier of (i) the expiration of the restrictions set forth in paragraph 6 hereof
or (ii) the liquidation of the Company; provided that paragraph 2(c) of this letter agreement shall survive such liquidation.


  


[Signature
Page Follows]


 






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	 	Sincerely,

                                                                                                                                            


DD3 Sponsor Group, LLC



	 	 	 
	 	By:	 
	 	 	Name: 	Jorge Combe
	 	 	Title:	Manager
	 	 	 
	 	 	Martin
    Werner
	 	 	 
	 	 	 
	 	 	Jorge
    Combe
	 	 	 
	 	 	 
	 	 	Daniel
    Salim
	 	 	 
	 	 	 
	 	 	Guillermo
    Ortiz
	 	 	 
	 	 	 
	 	 	Daniel
    Valdez
	 	 	 
	 	 	 
	 	 	Pedro
    Solís Cámara
	 	 	 
	 	 	 
	 	 	Luis
    Campos
	 	 	 
	 	 	 
	 	 	[●]


 


 


	Acknowledged and Agreed:


DD3 ACQUISITION CORP. II


	 
	 	 	 
	By:	 	 
	 	Name: 	Martin Werner	 
	 	Title:	Chief Executive Officer	 



 


[Signature Page to Letter Agreement]


 






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