Mallard Acquisition Corp. promised to pay to the order of Mallard Founders Holdings LLC, or its registered assigns or successors in interest (the “Payee”), or order, the principal sum of up to $1,000,000 in lawful money of the United States of America. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of this Note.

This Note amends and restates in its entirety the Amended and Restated Promissory Note of the Maker (“Original Note”) dated September 30, 2021 in the principal sum of up to $500,000 previously issued by the Maker to the Payee but does not constitute a novation or extinguishment of the debt represented by the Original Note. Principal. The principal balance of this Note shall be payable by the Maker on the earlier to occur of: (i) the date on which Maker consummates its initial business combination (the “Business Combination”) or (ii) April 29, 2022 (such earlier date, the “Maturity Date”).

The principal balance may be prepaid at any time, at the election of the Maker, without premium or penalty. Under no circumstances shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally for any obligations or liabilities of the Maker hereunder. Interest.

No interest shall accrue on the unpaid principal balance of this Note. Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note, including (without limitation) reasonable attorney's fees, then to the payment in full of any late charges and finally to the reduction of the unpaid principal balance of this Note.