Document:

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                                                                   EXHIBIT 10.34

     THE WARRANT REPRESENTED BY THIS CERTIFICATE AND THE SHARES ISSUABLE UPON
EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT") NOR QUALIFIED UNDER THE CALIFORNIA CORPORATE
SECURITIES LAW OF 1968, AS AMENDED, (THE "CALIFORNIA SECURITIES LAW"). THIS
WARRANT HAS BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR SALE IN
CONNECTION WITH, ANY DISTRIBUTION THEREOF WITHIN THE MEANING OF THE SECURITIES
ACT AND THE SECURITIES LAW. THIS WARRANT AND THE SHARES ISSUABLE UPON EXERCISE
THEREOF MAY NOT BE SOLD OR OFFERED FOR SALE IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND COMPLIANCE WITH THE
CALIFORNIA SECURITIES LAW OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
TO THE EFFECT THAT SUCH REGISTRATION AND COMPLIANCE ARE NOT REQUIRED.

                                                             Warrant to Purchase
                                                                50,000 Shares of
                                                                    Common Stock
                                                             As Herein Described

                      WARRANT TO PURCHASE COMMON STOCK OF

                         INTERPLAY ENTERTAINMENT CORP.

     This is to certify that, for value received, Titus Interactive SA, or a
proper assignee (in each case, the "Holder"), is entitled to purchase, subject
to the provisions of this Warrant, from Interplay Entertainment Corp., a
Delaware corporation (the "Company"), having its principal place of business at
16815 Von Karman Avenue, Irvine, California  92606, at any time during the
period from March 31, 2001 (the "Commencement Date") to 5:00 p.m., California
time, on April 7, 2010 (the "Expiration Date") at which time this Warrant shall
expire and become void, Fifty Thousand (50,000) shares ("Warrant Shares") of the
Company's Common Stock (the "Common Stock").  This Warrant shall be exercisable
at Three and 79/100 Dollars ($3.79) per share (the "Exercise Price").  The
number of shares of Common Stock to be received upon exercise of this Warrant
and the Exercise price shall be adjusted from time to time as set forth below.
This Warrant also is subject to the following terms and conditions:

     1.   Exercise and Payment.
          --------------------

               (a)  This Warrant shall only be exercisable if the Company's
audited pre-tax income for the fiscal year ended December 31, 2000 is less than
Two Million One Hundred Fifteen Thousand Dollars ($2,115,000).

               (b)  This Warrant may be exercised in whole or in part at any
time from and after March 31, 2001 (or such later date on which the Company's
audit of its financial statements for the fiscal year ended December 31, 2000 is
finalized) and before the Expiration Date, but if such date is a day on which
federal or state chartered banking institutions located in the State of
California are authorized to close, then on the next succeeding day on which
such institutions are open. Exercise shall be by presentation and surrender to
the Company at its principal office, or at the office
<PAGE>

of any transfer agent designated by the Company, of (i) this Warrant, (ii) the
attached exercise form properly executed, and (iii) either (A) a certified or
official bank check or wire payment for the Exercise Price for the number of
Warrant Shares specified in the exercise form; or (B) other securities of the
Company owned by the Holder and having a fair market value determined as set
forth in Section 3 hereof equal to the Exercise Price for the number of Warrant
Shares specified in the exercise form; (C) a written notice to the Company that
the Holder is exercising the Warrant (or a portion thereof) and authorizing the
Company to withhold from issuance a number of shares of Common Stock issuable
upon such exercise of the Warrant having a fair market value determined as set
forth in Section 3 hereof equal to the Exercise Price for the number of Warrant
Shares specified in the exercise form; or (D) any combination of the
consideration specified in the foregoing clauses (A), (B) and (C). If this
Warrant is exercised in part only, the Company or its transfer agent shall, upon
surrender of the Warrant, execute and deliver a new Warrant evidencing the
rights of the Holder to purchase the remaining number of Warrant Shares
purchasable hereunder. Upon receipt by the Company of this Warrant in proper
form for exercise, accompanied by payment as aforesaid, the Holder shall be
deemed to be the holder of record of the Common Stock issuable upon such
exercise, notwithstanding that the stock transfer books of the Company shall
then be closed or that certificates representing such Warrant Shares shall not
then be actually delivered to the Holder.

               (b)  Conditions to Exercise. The restrictions in Section 7 shall
                    ----------------------
apply, to the extent applicable by their terms, to any exercise of this Warrant
permitted by this Section 1.

     2.   Reservation of Shares.  The Company shall, at all times until the
          ---------------------
expiration of this Warrant, reserve for issuance and delivery upon exercise of
this Warrant the number of Warrant Shares which shall be required for issuance
and delivery upon exercise of this Warrant.

     3.   Fractional Interests.  The Company shall not issue any fractional
          --------------------
shares or script representing fractional shares upon the exercise of this
Warrant.  With respect to any fraction of a share resulting from the exercise
hereof, the Company shall pay to the Holder an amount in cash equal to such
fraction multiplied by the current fair market value per share of Common Stock,
determined as follows:

               (a)  If the Common Stock is listed on a national securities
exchange or admitted to unlisted trading privileges on such an exchange or is
listed on the National Association of Securities Dealers Automated Quotation
System ("NASDAQ"), the current fair market value shall be the last reported sale
price of the Common Stock on such exchange or NASDAQ on the last business day
prior to the date of exercise of this Warrant or if no such sale is made on such
day, the mean of the closing bid and asked prices for such day on such exchange
or NASDAQ;

               (b)  If the Common Stock is not so listed or admitted to unlisted
trading privileges or quoted on NASDAQ, the current fair market value shall be
the mean of the last bid and asked prices reported on the last business day
prior to the date of the exercise of this Warrant (i) by NASDAQ, or (ii) if
reports are unavailable under clause (i) above, by the National Quotation Bureau
Incorporated; or

               (c)  If the Common Stock is not so listed or admitted to unlisted
trading privileges and bid and asked prices are not so reported, the current
fair market value shall be an amount, not less than book value, determined by
the mutual agreement of the Company's Board of Directors and the Holder in good
faith.

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     4.   No Rights as Shareholders.  This Warrant shall not entitle the Holder
          -------------------------
to any rights as a shareholder of the Company, either at law or in equity.  The
rights of the Holder are limited to those expressed in this Warrant and are not
enforceable against the Company except to the extent set forth herein.

     5.   Adjustments in Number and Exercise Prices of Warrant Shares.
          -----------------------------------------------------------

          5.1  If the Company is recapitalized through the subdivision or
combination of its outstanding shares of Common Stock into a larger or smaller
number of shares, the number of shares of Common Stock for which this Warrant
may be exercised shall be increased or reduced, as of the record date for such
recapitalization in the same proportion as the increase or decrease in the
outstanding shares of Common Stock, and the exercise price shall be adjusted so
that the aggregate amount payable for the purchase of all of the Warrant Shares
issuable hereunder immediately after the record date for such recapitalization
shall equal the aggregate amount so payable immediately before such record date.

          5.2  In the event of any reorganization or reclassification of the
outstanding shares of Common Stock (other than a change in par value or from no
par value to par value, or from par value to no par value, or as a result of a
subdivision or combination) or in the event of any consolidation or merger of
the Company with another entity after which the Company is not the surviving
entity, at any time prior to the expiration of this Warrant, upon subsequent
exercise of this Warrant the Holder shall have the right to receive the same
kind and number of shares of Common Stock and other securities, cash or other
property as would have been distributed to the Holder upon such reorganization,
reclassification, consolidation or merger had the Holder exercised this Warrant
immediately prior to such reorganization, reclassification, consolidation or
merger, appropriately adjusted for any subsequent event described in this
Section 5.  The Holder shall pay upon such exercise the Exercise Price that
otherwise would have been payable pursuant to the terms of this Warrant.  If any
such reorganization, reclassification, consolidation or merger results in a cash
distribution in excess of the then applicable Exercise Price, the holder may, at
the Holder's option exercise this Warrant without making payment of the Exercise
Price, and in such case the Company shall, upon distribution to the Holder,
consider the Exercise Price to have been paid in full, and in making settlement
to the Holder, shall deduct an amount equal to the Exercise Price from the
amount payable to the Holder.  In the event of any such reorganization, merger
or consolidation, the corporation formed by such consolidation or merger or the
corporation which shall have acquired the assets of the Company shall execute
and deliver a supplement hereto to the foregoing effect, which supplement shall
also provide for adjustments which shall be as nearly equivalent as may be
practicable to the adjustments provided in this Warrant.

          5.3  If the Company shall, at any time before the expiration of this
Warrant, dissolve, liquidate or wind up its affairs, the Holder shall have the
right to receive upon exercise of this Warrant, in lieu of the shares of Common
Stock of the Company that the Holder otherwise would have been entitled to
receive, the same kind and amount of assets as would have been issued,
distributed or paid to the Holder upon any such dissolution, liquidation or
winding up with respect to such Common Stock receivable upon exercise of this
Warrant on the date for determining those entitled to receive any such
distribution.  If any such dissolution, liquidation or winding up results in any
cash distribution in excess of the Exercise Price provided by this Warrant, the
Holder may, at the Holder's option, exercise this Warrant without making payment
of the Exercise Price and, in such case, the Company shall, upon distribution to
the Holder, consider the Exercise Price to have been

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<PAGE>

paid in full and, in making settlement to the Holder, shall deduct an amount
equal to the Exercise Price from the amount payable to the Holder.

          5.4  Whenever the number of Warrant Shares or Exercise Price shall be
adjusted as required by the provisions of this Section 5, the Company forthwith
shall file in the custody of its secretary or an assistant secretary, at its
principal office, an officer's certificate showing the adjusted number of
Warrant Shares and Exercise Price and setting forth in reasonable detail the
circumstances requiring the adjustment. Each such officer's certificate shall be
made available at all reasonable times during reasonable hours for inspection by
the Holder.

          5.5  If any event occurs of the type contemplated by the provisions of
this Section 5 but not expressly provided for by such provisions or definition
(including, without limitation, the granting of stock appreciation rights,
phantom stock rights or other rights with equity features), then the Company's
board of directors in its reasonable judgment shall make an appropriate
adjustment in the number of Warrant Shares obtainable upon exercise of this
Warrant so as to protect the rights of the holders of the Warrant.

     6.   Notices to Holder.  So long as this Warrant shall be outstanding (a)
          -----------------
if the Company shall pay any dividends or make any distribution upon the Common
Stock or (b) if the Company shall offer generally to the holders of Common Stock
the right to subscribe to or purchase any shares of any class of Common Stock or
securities convertible into Common Stock or any similar rights or (c) if there
shall be any capital reorganization of the Company in which the Company is not
the surviving entity, recapitalization of the capital stock of the Company,
consolidation or merger of the Company with or into another corporation, sale,
lease or other transfer of all or substantially all of the property and assets
of the Company, or voluntary or involuntary dissolution, liquidation or winding
up of the Company, then in such event, the Company shall cause to be mailed to
the Holder, at least thirty days prior to the relevant date described below (or
such shorter period as is reasonably possible if thirty days is not reasonably
possible), a notice containing a description of the proposed action and stating
the date or expected date on which a record of the Company's shareholders is to
be taken for the purpose of any such dividend, distribution of rights, or such
reclassification, reorganization, consolidation, merger, conveyance, lease or
transfer, dissolution, liquidation or winding up is to take place and the date
or expected date, if any is to be fixed, as of which the holders of Common Stock
of record shall be entitled to exchange their shares of Common Stock for
securities or other property deliverable upon such event.

     7.   Transfer, Exercise, Exchange, Assignment or Loss of Warrant, Warrant
          --------------------------------------------------------------------
Shares or Other Securities.
--------------------------

          7.1  This Warrant and the Warrant Shares or any other securities
("Other Securities") received upon exercise of this Warrant shall be subject to
restrictions on transferability until registered under the Securities Act of
1933, as amended (the "Securities Act"), unless an exemption from registration
is available. Until this Warrant and the Warrant Shares or Other Securities are
so registered, this Warrant and any certificate for Warrant Shares or Other
Securities issued or issuable upon exercise of this Warrant shall contain a
legend on the face thereof, in form and substance satisfactory to counsel for
the Company, stating that this Warrant, the Warrant Shares or Other Securities
may not be sold, transferred or otherwise disposed of unless, in the opinion of
counsel satisfactory to the Company, which may be counsel to the Company, that
the Warrant, the Warrant Shares or Other Securities may be transferred without
such registration. This Warrant and

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<PAGE>

the Warrant Shares or Other Securities may also be subject to restrictions on
transferability under applicable state securities or blue sky laws.

          7.2  Until this Warrant, the Warrant Shares or Other Securities are
registered under the Securities Act, the Company may require, as a condition of
transfer of this Warrant, the Warrant Shares, or Other Securities that the
transferee (who may be the Holder in the case of an exercise or exchange)
represent that the securities being transferred are being acquired for
investment purposes and for the transferee's own account and not with a view to
or for sale in connection with any distribution of the security.  The Company
may also require that transferee provide written information adequate to
establish that the transferee is an "accredited investor" within the meaning of
Regulation D issued under the Securities Act, a purchaser meeting the
requirements of Section 25102(f) of the Securities Law, or otherwise meets all
qualifications necessary to comply with exemptions to the Securities Act and
Securities Laws, all as determined by counsel to the Company.

          7.3  Any transfer permitted hereunder shall be made by surrender of
this Warrant to the Company at its principal office or to the Transfer Agent at
its offices with a duly executed request to transfer the Warrant, which shall
provide adequate information to effect such transfer and shall be accompanied by
funds sufficient to pay any transfer taxes applicable. Upon satisfaction of all
transfer conditions, the Company or Transfer Agent shall, without charge,
execute and deliver a new Warrant in the name of the transferee named in such
transfer request, and this Warrant promptly shall be cancelled.

          7.4  Upon receipt by the Company of evidence satisfactory to it of
loss, theft, destruction or mutilation of this Warrant and, in the case of loss,
theft or destruction, of reasonable satisfactory indemnification, or, in the
case of mutilation, upon surrender of this Warrant, the Company will execute and
deliver, or instruct the Transfer Agent to execute and deliver, a new Warrant of
like tenor and date, and any such lost, stolen or destroyed Warrant thereupon
shall become void.

          7.5  Each Holder of this Warrant, the Warrant Shares and any Other
Securities shall indemnify and hold harmless the Company, its directors and
officers, and each other person, if any, who controls the Company, against any
losses, claims, damages or liabilities, joint or several, to which the Company
or any such director, officer or any such person may become subject under the
Securities Act, Securities Law or any statute or common law, to the extent that
such losses, claims, damages or liabilities, or actions in respect thereof,
arise out of or are based upon the disposition by such Holder of the Warrant,
the Warrant Shares or Other Securities in violation of this Warrant.

          7.6  The issuance of certificates for shares of Common Stock upon
exercise of this Warrant shall be made without charge to the Holder for any
issuance tax in respect thereof or other cost incurred by the Company in
connection with such exercise and the related issuance of shares of Common
Stock.  Each share of Common Stock issuable upon exercise of this Warrant shall,
upon payment of the Exercise Price therefor, be fully paid and nonassessable and
free from all liens and charges with respect to the issuance thereof.

          7.7  Notwithstanding any other provision hereof, if an exercise of any
portion of this Warrant is to be made in connection with a registered public
offering or the sale of the Company, the exercise of any portion of this Warrant
may, at the election of the holder hereof, be conditioned

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<PAGE>

upon the consummation of the public offering or sale of the Company in which
case such exercise shall not be deemed to be effective until the consummation of
such transaction.

     8.   No Impairment.  The Company will not, by amendment of its Certificate
          -------------
of Incorporation or otherwise, avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, but will at all times, in good
faith, take all such action as may be necessary or appropriate in order to
protect the rights of the Holder against impairment.

     9.   Notices.  All notices and other communications required or permitted
          -------
hereunder shall be in writing and shall be deemed effectively given upon
personal delivery or facsimile transmission to the party to be notified, or one
(1) day after deposit with a nationally recognized overnight delivery service,
all delivery charges paid, or three (3) days after deposit with the United
States mail, by registered or certified mail, postage prepaid, in any such case
addressed (a) if to Holder, at the address of Holder appearing on the records of
the Company, or at such other address as Holder shall have furnished to the
Company in writing in accordance with this Section 9, or (b) if to the Company,
at its principal office set forth above, or any other address which the Company
shall have furnished to Holder in writing in accordance with this Section 9.

     10.  Amendment. Any provision of this Warrant may be amended or the
          ---------
observance thereof may be waived (either generally or in a particular instance
and either retroactively or prospectively), only with the written consent of the
Company and the Holder.

     11.  Governing Law.  This Warrant shall be governed by and construed in
          -------------
accordance with the laws of the State of Delaware.

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<PAGE>

     IN WITNESS WHEREOF, the Company has executed this Warrant as of April 14,
2000.

                                        Interplay Entertainment Corp.

                                        By:  /s/ Brian Fargo
                                             -----------------------------
                                             Brian Fargo
                                             Chief Executive Officer

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<PAGE>

                                                                         Annex A
                                                                         -------
                               [FORM OF EXERCISE]

                   (To be executed upon exercise of Warrant)

          The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to purchase ________ shares of Common
Stock and herewith tenders payment for such shares of Common Stock to the order
of __________________ the amount of $__________ in accordance with the terms
hereof. The undersigned requests that a certificate for such shares of Common
Stock be registered in the name of _______________________________ whose address
is ___________________________________. If said number of shares of Common Stock
is less than all of the shares of Common Stock purchasable hereunder, the
undersigned requests that a new Warrant Certificate representing the remaining
balance of the shares of Common Stock be registered in the name of
________________________________________ whose address is ______________________
and that such Warrant Certificate be delivered to ________________________,
whose address is _________________________________.

Dated:

                                   Signature:___________________________________
                                   (Signature must conform in all respects to
                                   name of holders as specified on the face of
                                   the Warrant Certificate.)

________________________________
(Insert Social Security or
Taxpayer Identification
Number of Holder.)<PAGE>

                                                                   EXHIBIT 10.35

     THE WARRANT REPRESENTED BY THIS CERTIFICATE AND THE SHARES ISSUABLE UPON
EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT") NOR QUALIFIED UNDER THE CALIFORNIA CORPORATE
SECURITIES LAW OF 1968, AS AMENDED, (THE "CALIFORNIA SECURITIES LAW"). THIS
WARRANT HAS BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR FOR SALE IN
CONNECTION WITH, ANY DISTRIBUTION THEREOF WITHIN THE MEANING OF THE SECURITIES
ACT AND THE SECURITIES LAW. THIS WARRANT AND THE SHARES ISSUABLE UPON EXERCISE
THEREOF MAY NOT BE SOLD OR OFFERED FOR SALE IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND COMPLIANCE WITH THE
CALIFORNIA SECURITIES LAW OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY
TO THE EFFECT THAT SUCH REGISTRATION AND COMPLIANCE ARE NOT REQUIRED.

                                                             Warrant to Purchase
                                                               100,000 Shares of
                                                                    Common Stock
                                                             As Herein Described

                      WARRANT TO PURCHASE COMMON STOCK OF

                         INTERPLAY ENTERTAINMENT CORP.

     This is to certify that, for value received, Titus Interactive SA, or a
proper assignee (in each case, the "Holder"), is entitled to purchase, subject
to the provisions of this Warrant, from Interplay Entertainment Corp., a
Delaware corporation (the "Company"), having its principal place of business at
16815 Von Karman Avenue, Irvine, California  92606, at any time during the
period from May 1, 2001 (the "Commencement Date") to 5:00 p.m., California time,
on April 12, 2010 (the "Expiration Date") at which time this Warrant shall
expire and become void, One Hundred Thousand (100,000) shares ("Warrant Shares")
of the Company's Common Stock (the "Common Stock").  This Warrant shall be
exercisable at Three and 79/100 Dollars ($3.79) per share (the "Exercise
Price").  The number of shares of Common Stock to be received upon exercise of
this Warrant and the Exercise price shall be adjusted from time to time as set
forth below.  This Warrant also is subject to the following terms and
conditions:

     1.   Exercise and Payment.
          --------------------

               (a)  This Warrant shall only be exercisable in the event that the
Company borrows amounts under that certain [Revolving Credit Facility] dated
April 12, 2000 (the "Credit Facility").  In such event, the number of Warrant
Shares for which this Warrant shall be exercisable shall equal the total number
of Warrant Shares multiplied by a fraction, the numerator of which shall be the
maximum principal amount outstanding at any one time under the Credit Facility
during the term thereof, and the denominator of which shall be $5,000,000.  For
example, if the maximum amount outstanding at any time during the term of the
Credit Facility is $3,000,000, this Warrant shall be exercisable for 60,000
Warrant Shares.  Following the expiration or termination of the Credit Facility,
the Company and Holder shall execute a memorandum setting forth the maximum
amount outstanding at any time during the term of the Credit Facility, and shall
append such memorandum to this Warrant.
<PAGE>

               (b)  This Warrant (to the extent exercisable under Section 1(a)
above) may be exercised in whole or in part at any time from and after May 1,
2001 and before the Expiration Date, but if such date is a day on which federal
or state chartered banking institutions located in the State of California are
authorized to close, then on the next succeeding day on which such institutions
are open. Exercise shall be by presentation and surrender to the Company at its
principal office, or at the office of any transfer agent designated by the
Company, of (i) this Warrant, (ii) the attached exercise form properly executed,
and (iii) either (A) a certified or official bank check or wire payment for the
Exercise Price for the number of Warrant Shares specified in the exercise form;
or (B) other securities of the Company owned by the Holder and having a fair
market value determined as set forth in Section 3 hereof equal to the Exercise
Price for the number of Warrant Shares specified in the exercise form; (C) a
written notice to the Company that the Holder is exercising the Warrant (or a
portion thereof) and authorizing the Company to withhold from issuance a number
of shares of Common Stock issuable upon such exercise of the Warrant having a
fair market value determined as set forth in Section 3 hereof equal to the
Exercise Price for the number of Warrant Shares specified in the exercise form;
or (D) any combination of the consideration specified in the foregoing clauses
(A), (B) and (C). If this Warrant is exercised in part only, the Company or its
transfer agent shall, upon surrender of the Warrant, execute and deliver a new
Warrant evidencing the rights of the Holder to purchase the remaining number of
Warrant Shares purchasable hereunder. Upon receipt by the Company of this
Warrant in proper form for exercise, accompanied by payment as aforesaid, the
Holder shall be deemed to be the holder of record of the Common Stock issuable
upon such exercise, notwithstanding that the stock transfer books of the Company
shall then be closed or that certificates representing such Warrant Shares shall
not then be actually delivered to the Holder.

               (b)  Conditions to Exercise. The restrictions in Section 7 shall
                    ----------------------
apply, to the extent applicable by their terms, to any exercise of this Warrant
permitted by this Section 1.

     2.   Reservation of Shares.  The Company shall, at all times until the
          ---------------------
expiration of this Warrant, reserve for issuance and delivery upon exercise of
this Warrant the number of Warrant Shares which shall be required for issuance
and delivery upon exercise of this Warrant.

     3.   Fractional Interests.  The Company shall not issue any fractional
          --------------------
shares or script representing fractional shares upon the exercise of this
Warrant.  With respect to any fraction of a share resulting from the exercise
hereof, the Company shall pay to the Holder an amount in cash equal to such
fraction multiplied by the current fair market value per share of Common Stock,
determined as follows:

               (a)  If the Common Stock is listed on a national securities
exchange or admitted to unlisted trading privileges on such an exchange or is
listed on the National Association of Securities Dealers Automated Quotation
System ("NASDAQ"), the current fair market value shall be the last reported sale
price of the Common Stock on such exchange or NASDAQ on the last business day
prior to the date of exercise of this Warrant or if no such sale is made on such
day, the mean of the closing bid and asked prices for such day on such exchange
or NASDAQ;

               (b)  If the Common Stock is not so listed or admitted to unlisted
trading privileges or quoted on NASDAQ, the current fair market value shall be
the mean of the last bid and asked prices reported on the last business day
prior to the date of the exercise of this Warrant (i) by NASDAQ, or (ii) if
reports are unavailable under clause (i) above, by the National Quotation Bureau
Incorporated; or

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<PAGE>

               (c)  If the Common Stock is not so listed or admitted to unlisted
trading privileges and bid and asked prices are not so reported, the current
fair market value shall be an amount, not less than book value, determined by
the mutual agreement of the Company's Board of Directors and the Holder in good
faith.

     4.   No Rights as Shareholders.  This Warrant shall not entitle the Holder
          -------------------------
to any rights as a shareholder of the Company, either at law or in equity.  The
rights of the Holder are limited to those expressed in this Warrant and are not
enforceable against the Company except to the extent set forth herein.

     5.   Adjustments in Number and Exercise Prices of Warrant Shares.
          -----------------------------------------------------------

          5.1  If the Company is recapitalized through the subdivision or
combination of its outstanding shares of Common Stock into a larger or smaller
number of shares, the number of shares of Common Stock for which this Warrant
may be exercised shall be increased or reduced, as of the record date for such
recapitalization in the same proportion as the increase or decrease in the
outstanding shares of Common Stock, and the exercise price shall be adjusted so
that the aggregate amount payable for the purchase of all of the Warrant Shares
issuable hereunder immediately after the record date for such recapitalization
shall equal the aggregate amount so payable immediately before such record date.

          5.2  In the event of any reorganization or reclassification of the
outstanding shares of Common Stock (other than a change in par value or from no
par value to par value, or from par value to no par value, or as a result of a
subdivision or combination) or in the event of any consolidation or merger of
the Company with another entity after which the Company is not the surviving
entity, at any time prior to the expiration of this Warrant, upon subsequent
exercise of this Warrant the Holder shall have the right to receive the same
kind and number of shares of Common Stock and other securities, cash or other
property as would have been distributed to the Holder upon such reorganization,
reclassification, consolidation or merger had the Holder exercised this Warrant
immediately prior to such reorganization, reclassification, consolidation or
merger, appropriately adjusted for any subsequent event described in this
Section 5.  The Holder shall pay upon such exercise the Exercise Price that
otherwise would have been payable pursuant to the terms of this Warrant.  If any
such reorganization, reclassification, consolidation or merger results in a cash
distribution in excess of the then applicable Exercise Price, the holder may, at
the Holder's option exercise this Warrant without making payment of the Exercise
Price, and in such case the Company shall, upon distribution to the Holder,
consider the Exercise Price to have been paid in full, and in making settlement
to the Holder, shall deduct an amount equal to the Exercise Price from the
amount payable to the Holder.  In the event of any such reorganization, merger
or consolidation, the corporation formed by such consolidation or merger or the
corporation which shall have acquired the assets of the Company shall execute
and deliver a supplement hereto to the foregoing effect, which supplement shall
also provide for adjustments which shall be as nearly equivalent as may be
practicable to the adjustments provided in this Warrant.

          5.3  If the Company shall, at any time before the expiration of this
Warrant, dissolve, liquidate or wind up its affairs, the Holder shall have the
right to receive upon exercise of this Warrant, in lieu of the shares of Common
Stock of the Company that the Holder otherwise would have been entitled to
receive, the same kind and amount of assets as would have been issued,
distributed or paid to the Holder upon any such dissolution, liquidation or
winding up with respect to such Common Stock receivable upon exercise of this
Warrant on the date for determining those

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<PAGE>

entitled to receive any such distribution. If any such dissolution, liquidation
or winding up results in any cash distribution in excess of the Exercise Price
provided by this Warrant, the Holder may, at the Holder's option, exercise this
Warrant without making payment of the Exercise Price and, in such case, the
Company shall, upon distribution to the Holder, consider the Exercise Price to
have been paid in full and, in making settlement to the Holder, shall deduct an
amount equal to the Exercise Price from the amount payable to the Holder.

          5.4  Whenever the number of Warrant Shares or Exercise Price shall be
adjusted as required by the provisions of this Section 5, the Company forthwith
shall file in the custody of its secretary or an assistant secretary, at its
principal office, an officer's certificate showing the adjusted number of
Warrant Shares and Exercise Price and setting forth in reasonable detail the
circumstances requiring the adjustment.  Each such officer's certificate shall
be made available at all reasonable times during reasonable hours for inspection
by the Holder.

          5.5  If any event occurs of the type contemplated by the provisions of
this Section 5 but not expressly provided for by such provisions or definition
(including, without limitation, the granting of stock appreciation rights,
phantom stock rights or other rights with equity features), then the Company's
board of directors in its reasonable judgment shall make an appropriate
adjustment in the number of Warrant Shares obtainable upon exercise of this
Warrant so as to protect the rights of the holders of the Warrant.

     6.   Notices to Holder.  So long as this Warrant shall be outstanding (a)
          -----------------
if the Company shall pay any dividends or make any distribution upon the Common
Stock or (b) if the Company shall offer generally to the holders of Common Stock
the right to subscribe to or purchase any shares of any class of Common Stock or
securities convertible into Common Stock or any similar rights or (c) if there
shall be any capital reorganization of the Company in which the Company is not
the surviving entity, recapitalization of the capital stock of the Company,
consolidation or merger of the Company with or into another corporation, sale,
lease or other transfer of all or substantially all of the property and assets
of the Company, or voluntary or involuntary dissolution, liquidation or winding
up of the Company, then in such event, the Company shall cause to be mailed to
the Holder, at least thirty days prior to the relevant date described below (or
such shorter period as is reasonably possible if thirty days is not reasonably
possible), a notice containing a description of the proposed action and stating
the date or expected date on which a record of the Company's shareholders is to
be taken for the purpose of any such dividend, distribution of rights, or such
reclassification, reorganization, consolidation, merger, conveyance, lease or
transfer, dissolution, liquidation or winding up is to take place and the date
or expected date, if any is to be fixed, as of which the holders of Common Stock
of record shall be entitled to exchange their shares of Common Stock for
securities or other property deliverable upon such event.

     7.   Transfer, Exercise, Exchange, Assignment or Loss of Warrant, Warrant
          --------------------------------------------------------------------
Shares or Other Securities.
--------------------------

          7.1  This Warrant and the Warrant Shares or any other securities
("Other Securities") received upon exercise of this Warrant shall be subject to
restrictions on transferability until registered under the Securities Act of
1933, as amended (the "Securities Act"), unless an exemption from registration
is available.  Until this Warrant and the Warrant Shares or Other Securities are
so registered, this Warrant and any certificate for Warrant Shares or Other
Securities issued or issuable upon exercise of this Warrant shall contain a
legend on the face thereof, in form and substance satisfactory to counsel for
the Company, stating that this Warrant, the Warrant Shares

                                       4
<PAGE>

or Other Securities may not be sold, transferred or otherwise disposed of
unless, in the opinion of counsel satisfactory to the Company, which may be
counsel to the Company, that the Warrant, the Warrant Shares or Other Securities
may be transferred without such registration. This Warrant and the Warrant
Shares or Other Securities may also be subject to restrictions on
transferability under applicable state securities or blue sky laws.

          7.2  Until this Warrant, the Warrant Shares or Other Securities are
registered under the Securities Act, the Company may require, as a condition of
transfer of this Warrant, the Warrant Shares, or Other Securities that the
transferee (who may be the Holder in the case of an exercise or exchange)
represent that the securities being transferred are being acquired for
investment purposes and for the transferee's own account and not with a view to
or for sale in connection with any distribution of the security.  The Company
may also require that transferee provide written information adequate to
establish that the transferee is an "accredited investor" within the meaning of
Regulation D issued under the Securities Act, a purchaser meeting the
requirements of Section 25102(f) of the Securities Law, or otherwise meets all
qualifications necessary to comply with exemptions to the Securities Act and
Securities Laws, all as determined by counsel to the Company.

          7.3  Any transfer permitted hereunder shall be made by surrender of
this Warrant to the Company at its principal office or to the Transfer Agent at
its offices with a duly executed request to transfer the Warrant, which shall
provide adequate information to effect such transfer and shall be accompanied by
funds sufficient to pay any transfer taxes applicable.  Upon satisfaction of all
transfer conditions, the Company or Transfer Agent shall, without charge,
execute and deliver a new Warrant in the name of the transferee named in such
transfer request, and this Warrant promptly shall be cancelled.

          7.4  Upon receipt by the Company of evidence satisfactory to it of
loss, theft, destruction or mutilation of this Warrant and, in the case of loss,
theft or destruction, of reasonable satisfactory indemnification, or, in the
case of mutilation, upon surrender of this Warrant, the Company will execute and
deliver, or instruct the Transfer Agent to execute and deliver, a new Warrant of
like tenor and date, and any such lost, stolen or destroyed Warrant thereupon
shall become void.

          7.5  Each Holder of this Warrant, the Warrant Shares and any Other
Securities shall indemnify and hold harmless the Company, its directors and
officers, and each other person, if any, who controls the Company, against any
losses, claims, damages or liabilities, joint or several, to which the Company
or any such director, officer or any such person may become subject under the
Securities Act, Securities Law or any statute or common law, to the extent that
such losses, claims, damages or liabilities, or actions in respect thereof,
arise out of or are based upon the disposition by such Holder of the Warrant,
the Warrant Shares or Other Securities in violation of this Warrant.

          7.6  The issuance of certificates for shares of Common Stock upon
exercise of this Warrant shall be made without charge to the Holder for any
issuance tax in respect thereof or other cost incurred by the Company in
connection with such exercise and the related issuance of shares of Common
Stock.  Each share of Common Stock issuable upon exercise of this Warrant shall,
upon payment of the Exercise Price therefor, be fully paid and nonassessable and
free from all liens and charges with respect to the issuance thereof.

                                       5
<PAGE>

          7.7  Notwithstanding any other provision hereof, if an exercise of any
portion of this Warrant is to be made in connection with a registered public
offering or the sale of the Company, the exercise of any portion of this Warrant
may, at the election of the holder hereof, be conditioned upon the consummation
of the public offering or sale of the Company in which case such exercise shall
not be deemed to be effective until the consummation of such transaction.

     8.   No Impairment.  The Company will not, by amendment of its Certificate
          -------------
of Incorporation or otherwise, avoid or seek to avoid the observance or
performance of any of the terms of this Warrant, but will at all times, in good
faith, take all such action as may be necessary or appropriate in order to
protect the rights of the Holder against impairment.

     9.   Notices.  All notices and other communications required or permitted
          -------
hereunder shall be in writing and shall be deemed effectively given upon
personal delivery or facsimile transmission to the party to be notified, or one
(1) day after deposit with a nationally recognized overnight delivery service,
all delivery charges paid, or three (3) days after deposit with the United
States mail, by registered or certified mail, postage prepaid, in any such case
addressed (a) if to Holder, at the address of Holder appearing on the records of
the Company, or at such other address as Holder shall have furnished to the
Company in writing in accordance with this Section 9, or (b) if to the Company,
at its principal office set forth above, or any other address which the Company
shall have furnished to Holder in writing in accordance with this Section 9.

     10.  Amendment. Any provision of this Warrant may be amended or the
          ---------
observance thereof may be waived (either generally or in a particular instance
and either retroactively or prospectively), only with the written consent of the
Company and the Holder.

     11.  Governing Law.  This Warrant shall be governed by and construed in
          -------------
accordance with the laws of the State of Delaware.

                                       6
<PAGE>

     IN WITNESS WHEREOF, the Company has executed this Warrant as of April 14,
2000.

                              Interplay Entertainment Corp.

                              By:  /s/ Brian Fargo
                                   ------------------------
                                   Brian Fargo
                                   Chief Executive Officer

                                       7
<PAGE>

                                                                         Annex A
                                                                         -------
                              [FORM OF EXERCISE]

                   (To be executed upon exercise of Warrant)

          The undersigned hereby irrevocably elects to exercise the right,
represented by this Warrant Certificate, to purchase ________ shares of Common
Stock and herewith tenders payment for such shares of Common Stock to the order
of __________________ the amount of $__________ in accordance with the terms
hereof.  The undersigned requests that a certificate for such shares of Common
Stock be registered in the name of _______________________________ whose address
is ______________________________. If said number of shares of Common Stock is
less than all of the shares of Common Stock purchasable hereunder, the
undersigned requests that a new Warrant Certificate representing the remaining
balance of the shares of Common Stock be registered in the name of
___________________________ whose address is _____________________________ and
that such Warrant Certificate be delivered to ________________________, whose
address is _________________________________.

Dated:_______________________

                                  Signature:___________________________________
                                  (Signature must conform in all respects to
                                  name of holders as specified on the face of
                                  the Warrant Certificate.)

_____________________________
(Insert Social Security or
Taxpayer Identification
Number of Holder.)

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