Document:

Exhibit
10.1

 

___________,
2018

 

	DD3 Acquisition Corp.
	c/o DD3 Mex Acquisition Corp
	Pedregal 24, 4th Floor
	Colonia Molino del Rey, Del. Miguel Hidalgo
	11040 Mexico City, Mexico
	 
	EarlyBirdCapital, Inc.
	366 Madison Avenue, 8th Floor
	New York, New York 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., a company incorporated under the laws of the British Virgin Islands (the “Company”),
and EarlyBirdCapital, Inc. as representative (“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 Unit comprised of one ordinary share, no par value(the
 “Ordinary Shares”) and one warrant, each warrant entitling the registered holder to purchase one Ordinary
Share at a price of $11.50 per share (each, a “Warrant”). Certain capitalized terms used herein are
defined in paragraph 14 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, the undersigned hereby agrees with the Company as follows:

 

1.          If
the Company solicits approval of its shareholders of a Business Combination, the undersigned will vote all Ordinary Shares beneficially
owned by him, her or it, whether acquired before, in, or after the IPO, in favor of such Business Combination.

 

2.          In
the event that the Company fails to consummate a Business Combination within the time period set forth in the Company’s
memorandum and articles of association, as the same may be amended from time to time, 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 ten (10) business days thereafter, redeem 100% of the Ordinary Shares sold as part of the Units in the IPO, at a
per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (net of taxes payable, and
less up to $50,000 of interest to pay liquidation expenses), including interest earned on the Trust Account not previously released
to the Company, divided by the number of then outstanding public shares, which redemption will completely extinguish public shareholders’
rights as shareholders (including the right to receive further liquidation distributions, if any), and (iii) as promptly as reasonably
possible following such redemption, subject to the approval of the Company’s remaining shareholders 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 the laws of the British Virgin Islands to provide for claims of creditors and other requirements of applicable law. 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”) as a result of such liquidation with respect to his Founder Shares 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. 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 Claim 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, 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 on the type of target business the Company is seeking to acquire, that such Business Combination
is fair to the Company’s unaffiliated shareholders from a financial point of view.

 

4.          Neither
the undersigned nor any affiliate of the undersigned will be entitled to receive and will not accept any compensation or other
cash payment 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 Prospectus under the caption “Prospectus Summary
 – The Offering – Limited payments to insiders.”

 

5.          Neither
the undersigned nor any affiliate of the undersigned will be entitled to receive or accept a finder’s fee or any other compensation
in the event the undersigned or any affiliate of the undersigned originates a Business Combination.

 

6.          The
undersigned will place into escrow all Founder Shares, if any, held by the undersigned pursuant to the terms of a Stock Escrow
Agreement which the Company will enter into in connection with the IPO.

 

7.          The
undersigned agrees that until after the Company consummates a Business Combination, the undersigned’s Private Units (and
underlying securities) will be subject to the transfer restrictions described in the subscription agreement relating to the undersigned’s
Private Unit purchase.

 

8.          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 or liquidation, the undersigned shall present
to the Company for its consideration, prior to presentation to any other entity, any target business which has a fair market value
of at least 80% of the assets held in the Trust Account (excluding taxes payable on the income accrued in the Trust Account),
subject to any pre-existing fiduciary or contractual obligations the undersigned might have.

 

9.          The
undersigned agrees to be an officer and/or director of the Company until the earlier of the consummation by the Company of a Business
Combination or the liquidation of the Company. The undersigned’s biographical information previously furnished to the Company
and the Representative 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);

 

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		(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 your right to engage in any activity described in 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;

 

		(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 Commodity Futures Trading Commission; 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;

 

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		(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 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;

 

		(r)	he/she/it
                                         is not subject to an order of the SEC entered pursuant to section 15(b) or 15B(c) of
                                         the Securities Exchange Act of 1934 (the “Exchange Act”) or
                                         section 203(e) or 203(f) of the Investment Advisers Act of 1940 (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 is bound, to enter into this letter agreement
and to serve as an officer and/or director of the Company.

 

11.         The
undersigned hereby waives his right to exercise conversion/redemption rights with respect to any Ordinary Shares owned or to be
owned by the undersigned, directly or indirectly (or to sell such shares to the Company in a tender offer), and agrees to not
seek conversion/redemption 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).

 

12.         The
undersigned hereby agrees not to propose, or vote in favor of, an amendment to Regulation 25 or to any of the other rights of
the Ordinary Shares as set out at Clause 8.1 of the Company’s memorandum and articles of association prior to the consummation
of a Business Combination unless the Company provides holders of IPO Shares with the opportunity to convert or redeem their IPO
Shares in connection with any such vote.

 

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13.         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.
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 (a “Proceeding”) shall be brought and enforced in the courts of
the State of New York or the courts of the United States of America for the Southern District of New York, as applicable, and
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive, (ii) waives any objection to such exclusive jurisdiction
and that such courts represent an inconvenient forum, and (iii) irrevocably agrees to appoint Graubard Miller as agent for the
service of process in the State of New York to receive, for the undersigned and on his behalf, service of process in any Proceeding.
If for any reason such agent is unable to act as such, the undersigned will promptly notify the Company and the Representative
and appoint a substitute agent acceptable to each of the Company and the Representative within thirty (30) days and nothing in
this letter will affect the right of either party to serve process in any other manner permitted by law.

 

14.         As
used herein, (i) a “Business Combination” means a merger, share exchange, asset acquisition, stock purchase,
recapitalization, reorganization, or other similar business combination with one or more businesses or entities; (ii) ”Insiders”
means all officers, directors, shareholders and sponsors of the Company immediately prior to the IPO; (iii) ”Founder
Shares” means all of the Ordinary Shares of the Company acquired by an Insider prior to the IPO; (iv) “IPO
Shares” means the Ordinary Shares issued in the Company’s IPO; (v) “Private Units”
means the units of the Company being purchased simultaneously with the IPO by the Sponsor in a private placement; (vi) “Prospectus”
means the prospectus which forms a part of the Company’s registration statement on Form S-1 (SEC File No. 333-227423) filed
with the Securities and Exchange Commission; (vii) “Sponsor” means DD3 Mex Acquisition Corp.; and (viii)
 “Trust Account” means the trust account into which a portion of the net proceeds of the Company’s
IPO will be deposited.

 

15.         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.

 

16.         (a)
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 any of the Underwriters
a representative of, or a fiduciary with respect to, the Company, its shareholders or any creditor or vendor of the Company with
respect to the subject matter hereof.

 

(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.

 

17.         This
letter agreement shall be binding on the undersigned and such person’s respective successors, heirs, personal representatives
and assigns. This letter agreement shall terminate on the earlier of (i) the consummation of a Business Combination and (ii) the
liquidation of the Company; provided, that such termination shall not relieve the undersigned from liability for any breach
of this agreement prior to its termination.

 

[Signature
Page Follows]

 

    	 	5	 

     

    

 

	 	 
	 	 
	 	Dr. Martin M. Werner
	 

         
	 
	 	Jorge Combe
	 	 

                                                            

	 	Daniel Salim
	 	 

                                                            

	 	Dr. Guillermo Ortiz
	 	 

                                                            

	 	Mauricio Espinosa
	 	 

                                                            

	 	Alan Smithers
	 	 

                                                            

	 	Pedro Solis
	 	 
	 	DD3 MEX ACQUISITION CORP
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	Acknowledged and Agreed:
	 	 
	 	DD3 ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	EARLYBIRDCAPITAL, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Letter Agreement]Exhibit 10.2

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made as of ____________,
2018 by and between DD3 Acquisition Corp. (the “Company”) and Continental Stock Transfer & Trust Company
(“Trustee”).

 

WHEREAS, the Company’s registration
statement on Form S-1, No. 333-227423 (“Registration Statement”) for its initial public offering of securities
(“IPO”) has been declared effective as of the date hereof (“Effective Date”) by the Securities
and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Registration
Statement); and

 

WHEREAS, EarlyBirdCapital, Inc. (“EarlyBirdCapital”)
is acting as the representative of the several underwriters in the IPO; and

 

WHEREAS, as described in the Registration
Statement, and in accordance with the Company’s amended and restated memorandum and articles of association, $50,000,000
($57,500,000 if the over-allotment option is exercised in full) of the proceeds from the IPO and a simultaneous private placement
of units will be delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United
States (the “Trust Account”) for the benefit of the Company and the holders of the Company’s ordinary
shares, no par value (“Ordinary Shares”), issued in the IPO as hereinafter provided (the proceeds to be delivered
to the Trustee will be referred to herein as the “Property”; the shareholders for whose benefit the Trustee
shall hold the Property will be referred to as the “Public Shareholders,” and the Public Shareholders and the
Company will be referred to together as the “Beneficiaries”); and

 

WHEREAS, the Company and the Trustee desire
to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property;

 

IT IS AGREED:

 

1.           Agreements
and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a)          Hold
the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established by
the Trustee at J.P. Morgan Chase Bank, N.A. and at a brokerage institution selected by the Trustee that is reasonably satisfactory
to the Company;

 

(b)          Manage,
supervise, and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)          In
a timely manner, upon the written instruction of the Company, invest and reinvest the Property in United States “government
securities” within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment
Company Act”), having a maturity of 180 days or less, and/or in any open ended investment company registered under the
Investment Company Act that holds itself out as a money market fund selected by the Company meeting the conditions of paragraph
(d) of Rule 2a-7 promulgated under the Investment Company Act, which invest only in direct U.S. government treasury obligations;
it being understood that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s
instructions hereunder and the Trustee may earn bank credits or other consideration during such periods;

 

    	 

     

    

 

(d)          Collect
and receive, when due, all principal and income arising from the Property, which shall become part of the “Property,”
as such term is used herein;

 

(e)          Notify
the Company and EarlyBirdCapital of all communications received by it with respect to any Property requiring action by the Company;

 

(f)          Supply
any necessary information or documents as may be requested by the Company in connection with the Company’s preparation of
its tax returns;

 

(g)          Participate
in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as, and when instructed
by the Company to do so;

 

(h)          Render
to the Company monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements
of the Trust Account;

 

(i)          Commence
liquidation of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed
on behalf of the Company by two authorized officers, affirmed by counsel for the Company and, in the case of a Termination Letter
in a form substantially similar to that attached hereto as Exhibit A, acknowledged and agreed to by EarlyBirdCapital, and
complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest (which interest
shall be net of any taxes payable and, in the case of a Termination Letter attached as Exhibit B, up to $50,000 of interest
that may be released to the Company to pay dissolution expenses, if applicable, it being understood that the Trustee has no obligation
to monitor or question the Company’s position that an allocation has been made for taxes payable), only as directed in the
Termination Letter and the other documents referred to therein; provided, however, that in the event that a Termination Letter
has not been received by the Trustee within the period of time provided in the Company’s amended and restated memorandum
and articles of association, as the same may be amended from time to time (“Last Date”), the Trust Account shall
be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B hereto and the
Property in the Trust Account, including interest (which interest shall be net of any taxes payable and up to $50,000 of interest
that may be released to the Company to pay dissolution expenses, it being understood that the Trustee has no obligation to monitor
or question the Company’s position that an allocation has been made for taxes payable), shall be distributed to the Public
Shareholders as of the Last Date. The provisions of this Section 1(i) may not be modified, amended or deleted under any
circumstances; and

 

(j)          Upon
receipt of a letter (an “Amendment Notification Letter”) in the form of Exhibit C, signed on behalf of
the Company by two authorized officers, distribute to Public Shareholders who exercised their redemption rights in connection with
an amendment to Regulation 25 or to any of the other rights of the Ordinary Shares as set out at Clause 8.1 of the Company’s
amended and restated memorandum and articles of association (an “Amendment”) an amount equal to the pro rata
share of the Property relating to the Ordinary Shares for which such Public Shareholders have exercised redemption rights in connection
with such Amendment. The provisions of this Section 1(j) may not be modified, amended or deleted under any circumstances.

 

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2.           Limited
Distributions of Income from Trust Account.

 

(a)          Upon
written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D, the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested
by the Company to cover any income or other tax obligation owed by the Company as a result of such interest income.

 

(b)          Upon
written request from the Company following the Last Date, which may be given in a form substantially similar to that attached hereto
as Exhibit D, signed on behalf of the Company by two authorized officers, the Trustee shall distribute to the Company up
to $50,000 of interest income earned on the Property and requested by the Company to cover expenses directly related to the Company’s
liquidation (i.e., only those expenses incurred after the Last Date attributable to the Company’s liquidation); provided,
however, that the Company will not be allowed to withdraw interest income earned on the trust account pursuant to this Section
2(b) unless there are sufficient funds available to pay the Company’s tax obligations on such interest income or otherwise
then due at that time.

 

(c)          The
limited distributions referred to in Sections 2(a) and 2(b) above shall be made only from income collected on the
Property. Except as provided in Sections 2(a) and 2(b) above, no other distributions from the Trust Account shall
be permitted except in accordance with Sections 1(i) or 1(j) hereof.

 

(d)          The
Company shall provide EarlyBirdCapital with a copy of any Termination Letter, Amendment Notification Letter, and/or any other correspondence
that it issues to the Trustee with respect to any proposed withdrawal from the Trust Account promptly after such issuance.

 

3.           Agreements
and Covenants of the Company. The Company agrees and covenants to:

 

(a)          Give
all instructions to the Trustee hereunder in writing, signed by the Company’s authorized officers. In addition, except with
respect to its duties under Sections 1(i), 1(j), 2(a) and 2(b) above, the Trustee shall be entitled to rely
on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it in good faith believes to be
given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm
such instructions in writing;

 

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(b)          Subject
to the provisions of Section 5 of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against any
and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any
claim, potential claim, action, suit, or other proceeding brought against the Trustee involving any claim or in connection with
any claim or demand which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the
Property or any income earned from investment of the Property, except for expenses and losses resulting from the Trustee’s
gross negligence or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement
of any action, suit, or proceeding, pursuant to which the Trustee intends to seek indemnification under this paragraph, it shall
notify the Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee
shall have the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain
the consent of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee
may not agree to settle any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably
withheld. The Company may participate in such action with its own counsel;

 

(c)          Pay
the Trustee an initial acceptance fee, an annual fee, and a transaction processing fee for each disbursement made pursuant to Section
2(a) as set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time to time.
It is expressly understood that the Property shall not be used to pay such fees and further agreed that any fees owed to the Trustee
shall be deducted by the Trustee from the disbursements made to the Company pursuant to Section 1(i) solely in connection
with the consummation of a Business Combination. The Company shall pay the Trustee the initial acceptance fee and first year’s
fee at the consummation of the IPO and thereafter on the anniversary of the Effective Date;

 

(d)          In
connection with any vote of the Company’s shareholders regarding a Business Combination, provide to the Trustee an affidavit
or certificate of a firm regularly engaged in the business of soliciting proxies and/or tabulating shareholder votes verifying
the vote of the Company’s shareholders regarding such Business Combination;

 

(e)          In
the event that the Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the
Company agrees that it will not direct the Trustee to make any payments that are not specifically authorized by this Agreement;
and

 

(f)          If
the Company has an Amendment approved by its shareholders, provide the Trustee with an Amendment Notification Letter in the form
of Exhibit C providing instructions for the distribution of funds to Public Shareholders who exercise their conversion option
in connection with such Amendment.

 

4.           Limitations
of Liability. The Trustee shall have no responsibility or liability to:

 

(a)          Take
any action with respect to the Property, other than as directed in Sections 1 and 2 hereof, and the Trustee shall
have no liability to any party except for liability arising out of its own gross negligence or willful misconduct;

 

    	4

     

    

 

(b)          Institute
any proceeding for the collection of any principal and income arising from, or institute, appear in, or defend any proceeding of
any kind with respect to, any of the Property unless and until it shall have received instructions from the Company given as provided
herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(c)          Change
the investment of any Property, other than in compliance with Section 1(c);

 

(d)          Refund
any depreciation in principal of any Property;

 

(e)          Assume
that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f)          The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
in good faith and in the exercise of its own best judgment, except for its gross negligence or willful misconduct. The Trustee
may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion, or advice of counsel
(including counsel chosen by the Trustee), statement, instrument, report, or other paper or document (not only as to its due execution
and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained)
which is believed by the Trustee, in good faith, to be genuine and to be signed or presented by the proper person or persons. The
Trustee shall not be bound by any notice or demand, or any waiver, modification, termination, or rescission of this Agreement or
any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee signed by the proper party or parties
and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;

 

(g)          Verify
the correctness of the information set forth in the Registration Statement or to confirm or assure that any acquisition made by
the Company or any other action taken by it is as contemplated by the Registration Statement;

 

(h)          File
local, state, and/or federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee
statements with the Company documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income
earned on the Property;

 

(i)          Pay
any taxes on behalf of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes
and that such taxes, if any, shall be paid by the Company from funds not held in the Trust Account or released to it under Section
2(a) hereof);

 

    	5

     

    

 

(j)          Imply
obligations, perform duties, inquire, or otherwise be subject to the provisions of any agreement or document other than this agreement
and that which is expressly set forth herein; or

 

(k)          Verify
calculations, qualify, or otherwise approve Company requests for distributions pursuant to Sections 1(i), 2(a) or
2(b) above.

 

5.          Trust
Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 3(b) or Section 3(c) hereof, the Trustee shall pursue such Claim solely against
the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account.

 

6.           Termination.
This Agreement shall terminate as follows:

 

(a)          If
the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee during which time the Trustee shall act in accordance with this Agreement. At such time that
the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to
the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including
but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement
shall terminate; provided, however, that, in the event that the Company does not locate a successor trustee within ninety (90)
days of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited
with any court in the State of New York or with the United States District Court for the Southern District of New York and upon
such deposit, the Trustee shall be immune from any liability whatsoever; or

 

(b)          At
such time that the Trustee has completed the liquidation of the Trust Account in accordance with the provisions of Section 1(i)
hereof, and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate
except with respect to Section 3(b) and Section 5.

 

7.           Miscellaneous.

 

(a)          The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds
transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating
to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe
unauthorized persons may have obtained access to such information, or of any change in its authorized personnel. In executing funds
transfers, the Trustee will rely upon all information supplied to it by the Company, including account names, account numbers,
and all other identifying information relating to a beneficiary, beneficiary’s bank, or intermediary bank. The Trustee shall
not be liable for any loss, liability, or expense resulting from any error in the information or transmission of the wire.

 

    	6

     

    

 

(b)          This
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. The
parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough of
Manhattan, for purposes of resolving any disputes hereunder. As to any claim, cross-claim, or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury.

 

(c)          This
Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute an original, and together
shall constitute but one instrument.

 

(d)          This
Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except
for Sections 1(i) and 1(j) (which may not be amended under any circumstances), this Agreement or any provision hereof
may only be changed, amended, or modified by a writing signed by each of the parties hereto; provided, however, that no such change,
amendment or modification may be made without the prior written consent of EarlyBirdCapital. The Trustee may require from Company
counsel an opinion as to the propriety of any proposed amendment.

 

(e)          Any
notice, consent or request to be given in connection with any of the terms or provisions of this 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 by facsimile transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th floor

New York, New York 10004

Attn: Francis E. Wolf, Jr. and Celeste Gonzalez

Email: fwolf@continentalstock.com

Email: cgonzalez@continentalstock.com

 

    	7

     

    

 

if to the Company, to:

 

DD3 Acquisition Corp.

c/o DD3 Mex Acquisition Corp

Pedregal 24, 4th Floor

Colonia Molino del Rey, Delegación Miguel Hidalgo

11040 Mexico City, Mexico

Attn: Martin Werner

Email: martin.werner@dd3.mx

Fax No.: (___) ___-____

 

in either case with a copy (which copy shall
not constitute notice) to:

 

EarlyBirdCapital, Inc.

366 Madison Avenue

New York, New York 10017

Attn: General Counsel and Investment Banking
Department

Facsimile: (___) ___-____

 

and

 

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq.

Fax No.: (212) 818-8881

 

and

 

Greenberg Traurig, LLP

MetLife Building

200 Park Avenue

New York, New York 10166

Attn: Alan I. Annex, Esq.

Fax No.: (212) 801-9200

 

(f)          This
Agreement may not be assigned by the Trustee without the prior consent of the Company.

 

(g)          Each
of the Trustee and the Company hereby represents that it has the full right and power and has been duly authorized to enter into
this Agreement and to perform its respective obligations as contemplated hereunder.

 

(h)          Each
of the Company and the Trustee hereby acknowledge that EarlyBirdCapital is a third-party beneficiary of this Agreement.

 

[Signature Page Follows]

 

    	8

     

    

 

IN WITNESS WHEREOF, the parties have duly executed this Investment
Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL STOCK TRANSFER & TRUST 

COMPANY, as
Trustee
	 	 	 
	 	By: 	 
	 	 	Name:  
	 	 	Title:  
	 	 	 
	 	DD3 ACQUISITION CORP. 
	 	 	 
	 	By: 	 
	 	 	Name: 
	 	 	Title: 

 

    	9

     

    

 

SCHEDULE A

 

 

	Fee Item	 	Time and method of payment 	 	Amount
	Initial acceptance fee	 	Initial closing of IPO by wire transfer 	 	$3,500.00
	Annual fee	 	First year, initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	$10,000.00
	Transaction processing fee for disbursements to Company under Section 2	 	Deduction by Trustee from accumulated income following disbursement made to Company under Section 2	 	$250.00
	Paying Agent services as required pursuant to
    section 1(i) and 1(j)	 	Billed to Company upon delivery of service
    pursuant to section 1(i) and 1(j)	 	Prevailing rates

 

    	10

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer

& Trust Company

1 State Street, 30th floor

New York, New York 10004

Attn: Francis E. Wolf, Jr. and
Celeste Gonzalez

 

Re:       Trust
Account No. [________] - Termination Letter

 

Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between DD3 Acquisition Corp. (“Company”) and Continental
Stock Transfer & Trust Company, dated as of ______ ___, 2018 (“Trust Agreement”), this is to advise you
that the Company has entered into an agreement with [__________________] to consummate a business combination (“Business
Combination”) on or about [insert date]. The Company shall notify you at least 48 hours in advance of the actual
date of the consummation of the Business Combination (“Consummation Date”). Capitalized terms used herein and
not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments on [__________] and to transfer
the proceeds to the above-referenced account at [__________] to the effect that, on the Consummation Date, all of funds held in
the Trust Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation
Date. It is acknowledged and agreed that while the funds are on deposit in the Trust Account awaiting distribution, the Company
will not earn any interest or dividends.

 

On the Consummation
Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated and
(ii) the Company shall deliver to you (a) [an affidavit] [a certificate] of [__________________], which verifies the vote of the
Company’s shareholders in connection with the Business Combination if a vote is held and (b) joint written instructions from
the Company and EarlyBirdCapital, Inc. with respect to the transfer of the funds held in the Trust Account (“Instruction
Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your
receipt of the counsel’s letter and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the
event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will
notify the Company of the same and the Company shall direct you as to whether such funds should remain in the Trust Account and
distributed after the Consummation Date to the Company. Upon the distribution of all the funds in the Trust Account pursuant to
the terms hereof, the Trust Agreement shall be terminated.

 

In the event that the
Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on
or before the original Consummation Date of a new Consummation Date, then upon receipt by the you of written instructions from
the Company, the funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the business day immediately
following the Consummation Date as set forth in the notice.

 

    	11

     

    

 

	 	Very truly yours,
	 	 
	 	DD3 ACQUISITION CORP. 
	 	 	 
	 	By:	 
	 	 	Name: Martin Werner
	 	 	Title: Chairman and Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Name: Jorge Combe
	 	 	Title: Chief Operating Officer

 

	AGREED TO AND 
	ACKNOWLEDGED BY
	 
	EARLYBIRDCAPITAL, INC.

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

    	12

     

    

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

Continental Stock Transfer

& Trust Company

1 State Street, 30th floor

New York, New York 10004

Attn: Francis E. Wolf, Jr. and
Celeste Gonzalez

 

Re:       Trust
Account No. [__________] - Termination Letter

 

Mr. Wolf and Ms. Gonzalez:

 

Pursuant to Section
1(i) of the Investment Management Trust Agreement between DD3 Acquisition Corp. (“Company”) and Continental
Stock Transfer & Trust Company, dated as of ________ ___, 2018 (“Trust Agreement”), this is to advise you
that the Company has been unable to effect a Business Combination with a Target Company within the time frame specified in the
Company’s amended and restated memorandum and articles of association, as described in the Company’s prospectus relating
to its IPO. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with
the terms of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments on [______________] and
to transfer the total proceeds to the Trust Checking Account at [______________] to await distribution to the Public Shareholders.
The Company has selected [____________, 20__] as the record date for the purpose of determining the Public Shareholders entitled
to receive their share of the liquidation proceeds. It is acknowledged that no interest will be earned by the Company on the liquidation
proceeds while on deposit in the Trust Checking Account. You agree to be the Paying Agent of record and in your separate capacity
as Paying Agent, to distribute said funds directly to the Public Shareholders in accordance with the terms of the Trust Agreement
and the amended and restated memorandum and articles of association of the Company. Upon the distribution of all the funds in the
Trust Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	 
	 	DD3 ACQUISITION CORP. 
	 	 	 
	 	By	 
	 	 	Name: Martin Werner
	 	 	Title: Chairman and Chief Executive Officer
	 	 	 
	 	By	 
	 	 	Name: Jorge Combe
	 	 	Title: Chief Operating Officer

 

cc: EarlyBirdCapital, Inc.

 

    	13

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

Continental Stock Transfer

& Trust Company

1 State Street, 30th floor

New York, New York 10004

Attn: Francis E. Wolf, Jr. and
Celeste Gonzalez

 

Re:       Trust
Account No. [________] – Amendment Notification Letter

 

Mr. Wolf and Ms. Gonzalez:

 

Reference is made to
the Investment Management Trust Agreement between DD3 Acquisition Corp. (“Company”) and Continental Stock Transfer
 & Trust Company, dated as of ________ ___, 2018 (“Trust Agreement”). Capitalized words used herein and not
otherwise defined shall have the meanings ascribed to them in the Trust Agreement.

 

Pursuant
to Section 1(j) of the Trust Agreement, this is to advise you that the Company has sought an Amendment. Accordingly,
in accordance with the terms of the Trust Agreement, we hereby authorize you to liquidate a sufficient portion of the Trust
Account on [ ] and to transfer $_____ of the proceeds of the Trust to the  operating account at   JPMorgan Chase Bank,
N.A. for distribution to the shareholders that have requested redemption of their shares in connection with such Amendment.
The remaining funds shall be reinvested by you as previously instructed.

  

	 	Very truly yours,
	 	 
	 	DD3 ACQUISITION CORP. 
	 	 	 
	 	By:	 
	 	 	Name: Martin Werner
	 	 	Title: Chairman and Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Name: Jorge Combe
	 	 	Title: Chief Operating Officer

 

cc: EarlyBirdCapital, Inc.

 

    	14

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer

& Trust Company

1 State Street, 30th floor

New York, New York 10004

Attn: Francis E. Wolf, Jr. and
Celeste Gonzalez

 

Re:       Trust
Account No. [_____________] 

 

Mr. Wolf and Ms. Gonzalez:

 

Pursuant to [Section
2(a) and/or Section 2(b)] of the Investment Management Trust Agreement between DD3 Acquisition Corp. (“Company”)
and Continental Stock Transfer & Trust Company, dated as of _______ ___, 2018 (“Trust Agreement”), the Company
hereby requests that you deliver to the Company [$_______] of the interest income earned on the Property as of the date hereof,
[which does not exceed, in the aggregate with all such prior disbursements pursuant to Section 2(b), if any, the maximum amount
set forth in Section 2(b)]. [The Company needs such funds to pay for its tax obligations as a result of such interest income] and/or
[The Company needs such funds to pay its expenses relating to its liquidation]. In accordance with the terms of the Trust Agreement,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to
the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	DD3 ACQUISITION CORP. 
	 	 	 
	 	By:	 
	 	 	Name: Martin Werner
	 	 	Title: Chairman and Chief Executive Officer
	 	 	 
	 	By:	 
	 	 	Name: Jorge Combe
	 	 	Title: Chief Operating Officer

 

cc: EarlyBirdCapital, Inc.

 

    	15

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