Document:

Exhibit 10.5

 

 [●], 2021

 

DILA Capital Acquisition Corp.

1395 Brickell Avenue, Suite 950

Miami, FL 33131

 

Ladies and Gentlemen:

 

DILA Capital Acquisition Corp.
(the “Company”), a blank check company formed for the purpose of entering into a merger, capital stock exchange, asset acquisition,
stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities (a “Business
Combination”), intends to register its securities under the Securities Act of 1933, as amended (“Securities Act”), in
connection with its initial public offering (“IPO”). The Company currently anticipates selling units in the IPO, each comprised
of one share of Class A common stock, par value $0.0001 per share, of the Company (“Common Stock”) and one warrant (“Warrant”),
each Warrant to purchase one share of Common Stock.

 

The undersigned hereby commits
to purchase an aggregate of 271,250 units of the Company (“Initial Units”) at $10.00 per Initial Unit for an aggregate purchase
price of $2,712,500 (the “Initial Purchase Price”). Additionally, if the underwriters in the IPO (“Underwriters”)
exercise their over-allotment option in full or part, the undersigned further commits to purchase up to an additional 18,750 Units (“Additional
Units” and together with the Initial Units, the “Private Units”) at $10.00 per Additional Unit, for an aggregate purchase
price of up to $187,500 (the “Over-Allotment Purchase Price” and together with the Initial Purchase Price, the “Purchase
Price”)). The Private Units and underlying private warrants (“Private Warrants”) will be identical to the units and
warrants to be sold in the IPO except as described in the Company’s registration statement filed in connection with the IPO (“Registration
Statement”).

 

On the date of the closing
of the IPO (the “IPO Closing Date”), the Company shall issue and sell to the undersigned, and the undersigned shall purchase
from the Company, the Initial Units for the Initial Purchase Price. At least one (1) business day prior to the date the Registration Statement
is declared effective, the undersigned will cause the Purchase Price to be delivered by wire transfer of immediately available funds to
the accounts designated by the Company, including to the trust account at a financial institution to be chosen by the Company, maintained
by Continental Stock Transfer & Trust Company, acting as trustee (the “Trust Account”), in accordance with the Company’s
wiring instructions. On the IPO Closing Date, the Initial Purchase Price shall be released to the Company and the Company shall effect
delivery of the Initial Units to the undersigned in book-entry form.

 

On the date of the closing
of the over-allotment option, if any, in connection with the IPO (each such date, an “Over-Allotment Closing Date,” and each
Over-Allotment Closing Date (if any) and the IPO Closing Date, a “Closing Date”), the Over-Allotment Purchase Price shall
be released to the Company and the Company shall issue and sell to the undersigned, and the undersigned shall purchase from the Company,
the Additional Units (or, to the extent the over-allotment option is not exercised in full, a lesser number of Additional Units in proportion
to portion of the over-allotment option that is exercised). On each Over-Allotment Closing Date, if any, subject to receipt of funds pursuant
to the immediately prior sentence, the Company shall effect delivery of the Additional Units to the undersigned in book-entry form. 

  

The Private Units and underlying
Private Warrants will be identical to the units and warrants to be sold by the Company in the IPO, except that:

 

		·	the undersigned agrees to vote the shares of
Common Stock included in the Private Units (“Private Shares”) in favor of any proposed Business Combination;

 

     

     

    

 

		·	the undersigned agrees not to seek conversion,
or seek to sell such shares in any tender offer, in connection with any proposed Business Combination with respect to the Private Shares;

 

		·	the Private Units and underlying securities will
not be transferable by the undersigned until the consummation of a Business Combination (subject to certain exceptions as described in
the Registration Statement and set forth in the warrant agreement governing the Private Warrants (the “Warrant Agreement”));

 

		·	the Private Units and underlying securities will
be subject to customary registration rights, pursuant to a registration rights agreement on terms agreed upon by the Company and the Underwriters
to be filed as an exhibit to the Registration Statement (the “Registration Rights Agreement”);

 

		·	the undersigned will not participate in any liquidation
distribution with respect to the Private Units or the underlying securities (but will participate in liquidation distributions with respect
to any units or shares of Common Stock purchased by the undersigned in the IPO or in the open market after the IPO) if the Company fails
to consummate a Business Combination; and

 

		·	the Private Units and the underlying securities
will include any additional terms or restrictions as is customary in other similarly structured blank check company offerings or as may
be reasonably required by the Underwriters in order to consummate the IPO, which terms or restrictions will be described in the Registration
Statement.

 

The undersigned acknowledges
and agrees that it will execute agreements in form and substance typical for transactions of this nature necessary to effectuate the foregoing
agreements and obligations prior to the consummation of the IPO as are reasonably acceptable to the undersigned, including but not limited
to (i) an insider letter and (ii) the Registration Rights Agreement.

 

The undersigned hereby represents
and warrants to the Company (which representations and warranties shall survive each Closing Date) that:

 

		(a)	it has been advised that the Private Units, including the Private Shares and the Private Warrants included
in the Private Units, and, upon exercise of the Private Warrants, the shares of Common Stock issuable upon such exercise (collectively,
the “Securities”), have not been registered under the Securities Act;

 

		(b)	it is acquiring the Securities for its own account, for investment purposes only and not with a view towards,
or for resale in connection with, any public sale or distribution thereof;

 

		(c)	it understands that the Securities are being offered and will be sold to it in reliance on specific exemptions
from the registration requirements of the United States federal and state securities laws and that the Company is relying upon the truth
and accuracy of, and the undersigned’s compliance with, the representations and warranties of the undersigned set forth herein in
order to determine the availability of such exemptions and the eligibility of the undersigned to acquire such Securities;

 

		(d)	it is an “accredited investor” as defined by Rule 501(a)(3) of Regulation D promulgated under
the Securities Act, and it has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) of Regulation D under the Securities
Act. The undersigned did not decide to enter into this letter agreement as a result of any general solicitation or general advertising
within the meaning of Rule 502(c) of Regulation D under the Securities Act;

 

		(e)	it has been furnished with all materials relating to the business, finances and operations of the Company
and materials relating to the offer and sale of the Securities which have been requested by the undersigned. The undersigned has been
afforded the opportunity to ask questions of the executive officers and directors of the Company. The undersigned understands that its
investment in the Securities involves a high degree of risk and it has sought such accounting, legal and tax
                                                                                advice as it has considered necessary to make an informed investment decision with respect to the acquisition of the
                                                                                Securities;

 

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		(f)	it understands that no United States federal or state agency or any other government or governmental agency
has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
by the undersigned nor have such authorities passed upon or endorsed the merits of the offering of the Securities;

 

		(g)	it understands that: (A) the Securities have not been and are not being registered under the Securities
Act or any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered thereunder
or (2) sold in reliance on an exemption therefrom; and (B) except as specifically set forth in the Registration Rights Agreement, neither
the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities laws
or to comply with the terms and conditions of any exemption thereunder. In this regard, the undersigned understands that the U.S. Securities
and Exchange Commission has taken the position that promoters or affiliates of a blank check company and their transferees, both before
and after an initial Business Combination, are deemed to be “underwriters” under the Securities Act when reselling the securities
of a blank check company. Based on that position, Rule 144 adopted pursuant to the Securities Act would not be available for resale transactions
of the Securities despite technical compliance with the requirements of such Rule, and the Securities can be resold only through a registered
offering or in reliance upon another exemption from the registration requirements of the Securities Act;

 

		(h)	it has such knowledge and experience in financial and business matters, knowledge of the high degree of
risk associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating
the merits and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the
amount contemplated hereunder for an indefinite period of time. The undersigned has adequate means of providing for its current financial
needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment
in the Securities. The undersigned can afford a complete loss of its investments in the Securities;

 

		(i)	it understands that the Private Units and the Private Shares included in the Private Units shall bear
the legend substantially in the form of the following and be subject to appropriate “stop transfer restrictions”:

 

“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED, SOLD, TRANSFERRED
OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS OR AN
EXEMPTION FROM REGISTRATION IS AVAILABLE. IN ADDITION, SUBJECT TO ANY ADDITIONAL LIMITATIONS ON TRANSFER DESCRIBED IN THE LETTER AGREEMENT
BY AND AMONG DILA CAPITAL ACQUISITION CORP. (THE “COMPANY”), DILA CAPITAL SPONSOR GROUP, LLC AND THE OTHER PARTIES THERETO,
THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD OR TRANSFERRED PRIOR TO THE DATE UPON WHICH THE COMPANY COMPLETES ITS INITIAL
BUSINESS COMBINATION (AS DEFINED IN ITS AMENDED AND RESTATED CERTIFICATE OF INCORPORATION) EXCEPT TO A PERMITTED TRANSFEREE WHO AGREES
IN WRITING WITH THE COMPANY TO BE SUBJECT TO SUCH TRANSFER PROVISIONS.

 

SECURITIES EVIDENCED HEREBY SHALL BE ENTITLED
TO REGISTRATION RIGHTS UNDER A REGISTRATION RIGHTS AGREEMENT WITH THE COMPANY.”;

 

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		(j)	it understands that the Private Warrants shall bear the legend substantially in the form set forth in
the Warrant Agreement and be subject to appropriate “stop transfer restrictions”;

 

		(k)	it has full power, authority and legal capacity to execute and deliver this letter agreement and any documents
contemplated herein or needed to consummate the transactions contemplated in this letter agreement;

 

		(l)	this letter agreement constitutes a legal, valid and binding obligation of the undersigned, enforceable
in accordance with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general
applicability relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding
in equity or law); and

 

		(m)	the execution and delivery by the undersigned of this letter
agreement and the fulfillment of and compliance with the terms hereof by the undersigned do not and shall not as of each Closing Date
(a) conflict with or result in a breach by the undersigned of the terms, conditions or provisions of, (b) constitute a default under,
(c) result in the creation of any lien, security interest, charge or encumbrance upon the undersigned’s equity or assets under,
(d) result in a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration
to, or filing with, any court or administrative or governmental body or agency pursuant to the undersigned’s organizational documents
in effect on the date hereof or as may be amended prior to completion of the contemplated IPO, or any material law, statute, rule or
regulation to which the undersigned is subject, or any agreement, instrument, order, judgment or decree to which the undersigned is subject,
except for any filings required after the date hereof under federal or state securities laws.

 

All of the representations
and warranties contained herein shall survive each Closing Date. Except as otherwise expressly provided herein, all covenants and agreements
contained in this letter agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective
successors of the parties hereto whether so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties
may not assign this letter agreement, other than assignments by the undersigned to affiliates thereof (including, without limitation one
or more of its members). This letter agreement may not be amended, modified or waived as to any particular provision, except by a written
instrument executed by the parties hereto.

 

Whenever possible, each provision
of letter agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this
letter agreement is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of
such prohibition or invalidity, without invalidating the remainder of this letter agreement. This letter agreement may be executed simultaneously
in two or more counterparts, none of which need contain the signatures of more than one party, but all such counterparts taken together
shall constitute one and the same agreement.

 

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.

 

This letter agreement shall
be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed in accordance with the
internal laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the
laws of another jurisdiction.

 

This letter agreement may
be terminated by the Company or the undersigned at any time after April 30, 2021 upon written notice to the other party hereto if the
closing of the IPO does not occur prior to such date.

 

[Signature Page Follows]

 

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	 	Very truly yours,
	 	 
	 	DILA CAPITAL SPONSOR GROUP, LLC
	 	 
	 	 
	 	By:	 
	 	 	Name:   
	 	 	Title:    

 

	Accepted and Agreed:	 
	 	 
	DILA CAPITAL ACQUISITION CORP. 	 
	 	 
	 	 
	By:	 	 
	 	Name:  	 
	 	Title:    	 

 

[Signature Page to Subscription Agreement for Private
Units]Exhibit 10.6

 

STOCK ESCROW AGREEMENT

 

STOCK ESCROW AGREEMENT, dated
as of [●], 2021 (“Agreement”), by and among DILA CAPITAL Acquisition Corp.,
a Delaware corporation (“Company”), DILA CAPITAL Sponsor Group, LLC, a Delaware
limited liability company (the “Sponsor”), the stockholders of the Company listed on Exhibit A hereto (together with Sponsor
and any permitted transferee of the Sponsor or such stockholders after the date hereof in accordance with the terms hereof being referred
to as the “Founders”) and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New York limited purpose trust company (“Escrow
Agent”).

 

WHEREAS, the Company was formed
for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, recapitalization, reorganization
or other similar business combination (a “Business Combination”) with one or more businesses or entities.

 

WHEREAS, the Company has entered
into an Underwriting Agreement, dated as of [●], 2021 (“Underwriting Agreement”), with EarlyBirdCapital, Inc. (the
 “Representative”) acting as representative of the several underwriters (collectively, the “Underwriters”), pursuant
to which, among other matters, the Underwriters have agreed to purchase 5,000,000 units (“Units”) of the Company, plus an
additional 750,000 Units if the Underwriters exercise their over-allotment option in full. Each Unit consists of one share of the Company’s
Class A common stock, par value $0.0001 per share (“Common Stock”), and one warrant (“Warrant”), each Warrant
to purchase one share of Common Stock, all as more fully described in the Company’s final Prospectus, dated [●], 2021 (“Prospectus”)
comprising part of the Company’s Registration Statement on Form S-1 (File No. 333-254425) under the Securities Act of 1933, as amended
(“Registration Statement”), declared effective on [●], 2021 (“Effective Date”).

 

WHEREAS, the Founders have
agreed as a condition of the sale of the Units to deposit their shares of Class B common stock, par value $0.0001 per share, of the Company
(“Founder Shares”) in escrow as hereinafter provided.

 

WHEREAS, the Company and the
Founders desire that the Escrow Agent accept the Founder Shares, in escrow, to be held and disbursed as hereinafter provided.

 

IT IS AGREED:

 

1. Appointment of
Escrow Agent. The Company and the Founders hereby appoint the Escrow Agent to act in accordance with and subject to the terms of this
Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to such terms.

 

2. Deposit of Shares.
On or before the Effective Date, the Founders’ respective Founder Shares set forth on Exhibit A hereto shall be deposited in escrow,
to be held and disbursed subject to the terms and conditions of this Agreement. The Founders acknowledge that the shares deposited in
escrow will be legended to reflect the deposit of such shares under this Agreement.

 

3. Disbursement of
the Escrow Shares.

 

3.1 If the over-allotment option
to purchase all or a portion of the additional 750,000 Units of the Company is not exercised in full within 45 days of the date of the
Prospectus (as described in the Underwriting Agreement), the Sponsor agrees that the Escrow Agent shall return to the Company for cancellation,
at no cost, the number of Founder Shares held by the Sponsor determined by multiplying 187,500 by a fraction, (i) the numerator of which
is 750,000 minus the number of Units purchased by the Underwriters upon the exercise of the over-allotment option, and (ii) the denominator
of which is 750,000. The Company shall promptly provide notice to the Escrow Agent of the expiration or termination of the over-allotment
option and the number of Units, if any, purchased by the Underwriters in connection with the exercise thereof.

 

    

     

    

 

3.2 Except as otherwise
set forth herein, the Escrow Agent shall hold the Founder Shares remaining after any cancellation required pursuant to Section 3.1
above (such remaining shares to be referred to herein as the “Escrow Shares”) until the earlier of one year after the
date of the consummation of an initial Business Combination and the date on which the closing price of the Common Stock equals or
exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations) for any 20 trading
days within any 30-trading day period commencing 150 days after the consummation of an initial Business Combination (such period of
time during which the Escrow Shares are held in escrow, the “Escrow Period”). The Company shall promptly provide notice
of the consummation of an initial Business Combination to the Escrow Agent. Upon completion of the Escrow Period, the Escrow Agent
shall disburse such amount of each Founder’s Escrow Shares to the applicable Founder; provided, however, that if, after the
consummation of an initial Business Combination and during the Escrow Period, the Company (or the surviving entity) consummates a
liquidation, merger, stock exchange or other similar transaction which results in all of the stockholders of such entity having the
right to exchange their shares of Common Stock for cash, securities or other property, then the Escrow Agent will, upon receipt of a
notice executed by the Chairman of the Board, Chief Executive Officer or other authorized officer of the Company (or the surviving
entity), in form reasonably acceptable to the Escrow Agent, certifying that such transaction is then being consummated or such
conditions have been achieved, as applicable, release the Escrow Shares to the Founders. The Escrow Agent shall have no further
duties hereunder after the disbursement of the Escrow Shares in accordance with this Section 3.2.

 

3.3 If the Escrow Agent
is notified by the Company pursuant to Section 6.7 hereof that the Company’s Trust Account (as defined in that certain Investment
Management Trust Agreement, dated as of the date hereof, by and between the Company and the Escrow Agent as trustee thereunder) is being
liquidated, then the Escrow Agent shall deliver the certificates representing the Escrow Shares to the Founders promptly after the public
stockholders are paid the liquidating distributions and shall have no further duties hereunder.

 

4. Rights of Founders
in Escrow Shares.

 

4.1 Voting Rights as
a Stockholder. Subject to the terms of the Insider Letter described in Section 4.4 hereof and except as herein provided, the Founders
shall retain all of their rights as stockholders of the Company as long as any shares are held in escrow pursuant to this Agreement, including,
without limitation, the right to vote such shares.

 

4.2 Dividends and Other
Distributions in Respect of the Escrow Shares. For as long as any shares are held in escrow pursuant to this Agreement, all dividends
payable in cash with respect to the Escrow Shares shall be paid to the Founders, but all dividends payable in stock or other non-cash
property (“Non-Cash Dividends”) shall be delivered to the Escrow Agent to hold in accordance with the terms hereof. As used
herein, the term “Escrow Shares” shall be deemed to include the Non-Cash Dividends distributed thereon, if any.

 

4.3 Restrictions on
Transfer. During the Escrow Period, the only permitted transfers of the Escrow Shares will be (i) among the Founders or to the Company’s
or the Founders’ members, officers, directors, consultants or their affiliates, (ii) to a Founder’s stockholders or members
upon such Founder’s liquidation, in each case if the Founder is an entity, (iii) by bona fide gift to a member of a Founder’s
immediate family or to a trust, the beneficiary of which is a Founder or a member of a Founder’s immediate family, in each case
for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death, (v) pursuant to a qualified domestic
relations order, (vi) to the Company for no value for cancellation in connection with the consummation of a Business Combination, (vii)
in connection with the consummation of a Business Combination at prices no greater than the price at which the Escrow Shares were originally
purchased, (viii) in the event of the Company’s liquidation prior to its consummation of an initial Business Combination or (ix)
in the event that, subsequent to the consummation of an initial Business Combination, the Company completes a liquidation, merger, capital
stock exchange or other similar transaction which results in all of the Company’s stockholders having the right to exchange their
Common Stock for cash, securities or other property; provided, however, that except for clauses (vi), (viii) or (ix) or with the Company’s
prior written consent, such permitted transfers may be implemented only upon the respective transferee’s written agreement to be
bound by the terms and conditions of this Agreement and of the Insider Letter.

 

4.4 Insider Letter.
The Founders have executed a letter agreement with the Company, dated as of the date hereof, the form of which is filed as an exhibit
to the Registration Statement (“Insider Letter”), respecting the rights and obligations of such Founders in certain events,
including, but not limited to, the liquidation of the Company.

 

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5. Concerning the
Escrow Agent.

 

5.1 Good Faith
Reliance. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and in the exercise of its
own best judgment, and 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 Escrow Agent), 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 Escrow Agent in good faith to be genuine and to be signed or presented by
the proper person or persons. The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification, termination
or rescission of this Agreement unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties
and, if the duties or rights of the Escrow Agent are affected, unless it shall have given its prior written consent thereto.

 

5.2 Indemnification.
Subject to Section 5.8 below, the Escrow Agent shall be indemnified and held harmless by the Company from and against any expenses, including
reasonable counsel fees and disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or other proceeding
involving any claim which in any way, directly or indirectly, arises out of or relates to this Agreement, the services of the Escrow Agent
hereunder, or the Escrow Shares held by it hereunder, other than expenses or losses arising from the gross negligence, fraud or willful
misconduct of the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice of any demand or claim or the commencement of
any action, suit or proceeding, the Escrow Agent shall notify the other parties hereto in writing. In the event of the receipt of such
notice, the Escrow Agent, in its sole discretion, may commence an action in the nature of interpleader in an appropriate court to determine
ownership or disposition of the Escrow Shares or it may deposit the Escrow Shares with the clerk of any appropriate court or it may retain
the Escrow Shares pending receipt of a final, non-appealable order of a court having jurisdiction over all of the parties hereto directing
to whom and under what circumstances the Escrow Shares are to be disbursed and delivered. The provisions of this Section 5.2 shall survive
in the event the Escrow Agent resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

 

5.3 Compensation.
Subject to Section 5.8 below, the Escrow Agent shall be entitled to reasonable compensation from the Company for all services rendered
by it hereunder. The Escrow Agent shall also be entitled to reimbursement from the Company for all reasonable expenses paid or incurred
by it in the administration of its duties hereunder including, but not limited to, all counsel, advisors’ and agents’ fees
and disbursements and all taxes or other governmental charges.

 

5.4 Further Assurances.
From time to time on and after the date hereof, the Company and the Founders shall deliver or cause to be delivered to the Escrow Agent
such further documents and instruments and shall do or cause to be done such further acts as the Escrow Agent shall reasonably request
to carry out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith or to assure itself that
it is protected in acting hereunder.

 

5.5 Resignation.
The Escrow Agent may resign at any time and be discharged from its duties as escrow agent hereunder by its giving the other parties hereto
written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective at such time
that the Escrow Agent shall turn the Escrow Shares over to a successor escrow agent appointed by the Company and approved by the Representative,
which approval will not be unreasonably withheld, conditioned or delayed. If no new escrow agent is so appointed within the 60-day period
following the giving of such notice of resignation, the Escrow Agent may deposit the Escrow Shares with any court it reasonably deems
appropriate in the State of New York.

 

5.6 Discharge of Escrow
Agent. The Escrow Agent shall resign and be discharged from its duties as escrow agent hereunder if so requested in writing at any
time by all of the other parties hereto; provided, however, that such resignation shall become effective only upon the appointment of
a successor escrow agent selected by the Company and approved by the Representative, which approval will not be unreasonably withheld,
conditioned or delayed.

 

5.7 Liability. Notwithstanding
anything herein to the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross negligence, fraud or
willful misconduct.

 

5.8 Waiver. The
Escrow Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or
to any distribution of, the Trust Account and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim
against the Trust Account for any reason whatsoever.

 

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6. Miscellaneous.

 

6.1 Governing Law.
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.

 

6.2 Third Party Beneficiaries.
Each of the parties to this Agreement hereby acknowledges that the Representative is a third party beneficiary of this Agreement.

 

6.3 Entire Agreement.
This Agreement contains the entire agreement of the parties hereto with respect to the subject matter hereof and, except as expressly
provided herein, may only be changed, amended, or modified by a writing signed by each of the parties hereto.

 

6.4 Headings. The
headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation thereof.

 

6.5 Binding Effect.
This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their legal representatives, successors
and assigns.

 

6.6 Notices. 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, by email or
by electronic transmission:

 

If to the Company, to:

 

DILA Capital Acquisition Corp.

1395 Brickell Avenue, Suite
950

Miami, FL 33131

Attn:

Email:

 

If to a Founder, to his/her/its
address set forth in Exhibit A.

 

and if to the Escrow Agent,
to:

 

Continental Stock Transfer
 & Trust Company

1 State Street

New York, New York 10004

Attn: Chairman

 

A copy of any notice sent hereunder
shall be sent to:

 

EarlyBirdCapital,
Inc.

366 Madison Ave.,
8th Floor

New York, NY 10017

Attn: Steven Levine

Fax No.: (212) 661-4936

Email: slevine@ebccap.com

 

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with a copy to: 

 

Greenberg Traurig,
P.A.

333 S.E. 2nd Avenue

Miami, FL 33131

Attn: Alan I. Annex,
Esq.

Fax No.: (305) 579-0717

Email: annexa@gtlaw.com

 

and:

 

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn: David Alan Miller, Esq.

Fax No.: (212) 818-8881

Email: dmiller@graubard.com

 

The parties may change the persons
and addresses to which the notices or other communications are to be sent by giving written notice to any such change in the manner provided
herein for giving notice.

 

6.7 Liquidation of the
Trust Account. The Company shall give the Escrow Agent written notification of the liquidation of the Trust Account in the event that
the Company fails to consummate a Business Combination within the time period specified in the Company’s Amended and Restated Certificate
of Incorporation, as the same may be amended from time to time.

 

6.8 Counterparts.
This Agreement may be executed in several counterparts, each one of which shall constitute an original and may be delivered by facsimile
transmission and together shall constitute one instrument.

 

[Signature Page Follows]

 

    5

     

    

 

WITNESS the execution of this
Agreement as of the date first above written.

 

	 	DILA CAPITAL ACQUISITION CORP.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Escrow Agent
	 	 
	 	By:	 
	 	 	Name: 
	 	 	Title: 
	 	 
	 	FOUNDERS: 
	 	 
	 	DILA CAPITAL SPONSOR GROUP, LLC
	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:
	 	 
	 	Luis F. Cervantes Coste
	 	 
	 	Yvonne Ochoa Rosellini
	 	 
	 	Armando Santacruz Gonzalez

 

[Signature Page to Stock Escrow Agreement]

 

    

     

    

 

EXHIBIT A

 

	Name and Address of Founder	 	Number of Shares

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