Document:

Form of Promissory Note dated October, 2003

 Exhibit 4.9 
  

10% CONVERTIBLE SUBORDINATED NOTE 
  
 THIS NOTE IS SUBJECT TO PROVISIONS IN THE 10% CONVERTIBLE SUBORDINATED NOTE AGREEMENT DATED AS OF OCTOBER 23, 2003 FOR THE SUBORDINATION OF THIS NOTE TO
SENIOR INDEBTEDNESS OF THE COMPANY, UPON ALL THE TERMS AND CONDITIONS THEREIN SPECIFIED. 
  
 ACCLAIM ENTERTAINMENT, INC. 
  
 10%
Convertible Subordinated Note, due October 3, 2010 
  

	 	 	Glen Cove, New York
	[$                    ]	 	October 3, 2003        

  
 Acclaim Entertainment,
Inc., a corporation duly organized and existing under the laws of the State of Delaware (the “Company”), for value received, hereby promises to pay to
[                    ] (the “Purchaser”), or its registered assigns (the Purchaser or its assigns being the
“Holder”), the principal sum of [                    ] Dollars
($                    ) on October 3, 2010 (the “Maturity”), and to pay interest (computed on the basis of a 365 day year) (i) on
the unpaid principal balance thereof from the date of this Note at the rate of ten percent (10%) per annum from the date hereof, payable semi-annually on each April 15 and October 15, commencing April 15, 2004 (each semi-annual interest payment date
hereinafter collectively referred to as an “Interest Payment Date”), and if unpaid thereafter shall be paid when the unpaid principal balance shall become due and payable (whether at Maturity, or by declaration, acceleration or
otherwise). 
  
 The interest and principal payments payable with
respect to this Note, on any Interest Payment Date, at Maturity or by declaration, acceleration or otherwise, pursuant to the Note Agreement (as defined herein), shall be paid to the Purchaser in such coin or currency of the United States of America
as at the time of payment is legal tender for payment of public and private debts. Such interest and principal payments shall be made to the Purchaser in accordance with the provisions of the Note Agreement. 
  
 This Note is issued pursuant to the 10% Convertible Subordinated Note
Purchase Agreement, dated September 23, 2003, by and between the Company and the Purchasers listed therein (the “Note Agreement”). The Holder of this Note is subject to, and entitled to the benefits of, the Note Agreement, and may
enforce the Note Agreement and exercise the remedies provided for thereby or otherwise available in respect thereof. Subject to the terms and conditions of the Note Agreement, immediately following conversion, if any, of this Note, the Holder hereto
shall receive that number of shares of Common Stock as set forth in the Notice of Conversion, a form of which is attached hereto (the “Underlying Shares”). 
  
 This Note may be transferred or assigned by the Purchaser only as provided in the Note Agreement. As provided in the Note
Agreement, upon surrender of this Note for registration of transfer, duly endorsed, or accompanied by a written instrument of transfer duly executed by the 

  

 
Purchaser or the Purchaser’s attorney duly authorized in writing, a new Note for a like aggregate principal amount and otherwise of similar tenor, will
be issued to, and registered in the name of, the transferee. Prior to due presentment for registration of transfer, the Company may treat the person in whose name this Note is registered as the Holder and owner hereof for the purpose of receiving
payments and for all other purposes, and the Company shall not be affected by any notice to the contrary. 
  
 In the case of an Event of Default (as defined in the Note Agreement), the principal of this Note in certain circumstances may be declared or otherwise
become due and payable in the manner and with the effect provided in the Note Agreement. 
  
 This Note is subject to conversion into Common Stock, in whole or in part, pursuant to the terms and conditions of the Note Agreement and conversion shall be evidenced by a Notice of Conversion as attached hereto.
This Note is not subject to prepayment or redemption by the Company prior to its expressed Maturity except as provided in Section 16(a) of the Note Agreement. 
  

THE INDEBTEDNESS EVIDENCED BY THIS NOTE IS SUBORDINATE AND SUBJECT IN RIGHT OF PAYMENT TO THE SENIOR INDEBTEDNESS (AS DEFINED IN THE NOTE
AGREEMENT), AND THIS NOTE IS ISSUED SUBJECT TO THE PROVISIONS OF THE NOTE AGREEMENT WITH RESPECT THERETO. EACH HOLDER OF THIS NOTE, BY ACCEPTING THE SAME, AGREES TO AND SHALL BE BOUND BY SUCH PROVISIONS. 
  
 CONVERSION OF THIS NOTE INTO THE UNDERLYING SHARES AT A CONVERSION PRICE
OF $0.57 PER SHARE IS SUBJECT TO THE COMPANY’S RECEIPT OF THE APPROVAL OF THE STOCKHOLDERS. THE COMPANY DOES NOT REPRESENT OR WARRANT THAT IT SHALL BE ABLE TO OBTAIN SUCH APPROVAL. 
  
 No reference herein to the Note Agreement and no provision of this Note or of
the Note Agreement shall alter or impair the obligation of the Company which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Note at the times, place and rate, and in the coin or currency, herein
prescribed or to convert this Note as provided in the Note Agreement. 
  
 All terms used in this Note which are defined in the Note Agreement shall have the meanings assigned to them in the Note Agreement. 
  
 This Note has been delivered to the Purchaser in New York, New York, and the Note and the Note Agreement are governed by and shall be construed and
enforced in accordance with and the rights of the parties shall be governed by the law of the State of New York excluding choice-of-law principles. 
  

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed on the date first written
above. 
  

	 ACCLAIM ENTERTAINMENT, INC.

		
	 By:
	 	 
	 	

	 Title:
	 	 
	 	

  

 NOTICE OF CONVERSION 
  
 On
[                             , 2003] the stockholders of Acclaim Entertainment, Inc. (the
“Company”) [have/have not] approved the issuance of the Common Stock into which the 10% Convertible Subordinated Note (the “Note”) is convertible at a discount to the then current market price of the Common Stock,
and the Company hereby irrevocably converts this Note into (            ) shares of Common Stock in accordance with the terms of the 10% Convertible Subordinated Note Agreement and
represents that the shares issuable and deliverable upon such conversion, together with written confirmation of transmittal by wire transfer to the Holder in payment for any fractional shares and in payment of accrued, but unpaid interest on the
Note. 
  

	 ACCLAIM ENTERTAINMENT, INC.

	
	 
	

	By:	 	 
	 Title:<PAGE>
                                                                     Exhibit 4.1

                                 [CERTIFICATE]

                        Nexstar Broadcasting Group, Inc.
              INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

CLASS A COMMON STOCK                                           CUSIP 65336K 10 3
                                             SEE REVERSE FOR CERTAIN DEFINITIONS

THIS CERTIFIES THAT

IS THE OWNER OF

                 FULLY PAID AND NONASSESSABLE SHARES OF CLASS A
                  COMMON STOCK, $0.01 PAR VALUE PER SHARE, OF

----------------------NEXSTAR BROADCASTING GROUP, INC.--------------------------

transferable only on the books of the Corporation by the holder hereof in
person, or by duly authorized attorney or legal representative, upon the
surrender of this Certificate properly endorsed.
  This Certificate is not valid unless countersigned and registered by the
Transfer Agent and Registrar.
  In Witness Whereof, the said Corporation has caused this Certificate to be
executed by the facsimile signatures of its duly authorized officers and has
caused a facsimile of its Corporate Seal to be hereunto affixed.

Dated:

/s/ Shirley Green
         Secretary

/s/ Perry A. Sook
    Chief Executive Officer and President

Authorized Signatures

Countersigned and Registered:
AMERICAN STOCK TRANSFER & TRUST COMPANY
  Transfer Agent and Registrar

    AMERICAN BANK NOTE COMPANY          PRODUCTION COORDINATOR: VERONICA GLIATTI
       711 ARMSTRONG LANE                             931-490-1706
    COLUMBIA, TENNESSEE 38401                  PROOF OF OCTOBER 28, 2003
         (931) 388-3003                      NEXSTAR BROADCASTING GROUP, INC.
                                                     TSB 13652 BK

    SALES: C.SHARKEY 302-731-7088                   Operator:  Ron
                                                        New
/ETHER 13/LIVE JOBS/N/NEXSTAR 13652 BK

PLEASE INITIAL THE APPROPRIATE SELECTION FOR THIS PROOF:___ OK AS IS
____ OK WITH CHANGES  ___ MAKE CHANGES AND SEND ANOTHER PROOF

Colors selected for printing: Logo is in EPS format; One color-Black;
-----------------------------
Intaglio prints in SC-3.

COLOR: This proof was printed from a digital file or artwork on a graphic
quality, color laser printer. It is a good representation of the color as it
will appear on the final product. However, it is not an exact color rendition,
and the final printed product may appear slightly different from the proof due
to the difference between the dyes and printing ink.

<PAGE>

     The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

<TABLE>
<CAPTION>
<S>       <C>                          <C>                <C>                                     <C>
TEN COM - as tenants in common         UNIF GIFT MIN ACT -      Custodian      UNIF TRANS MIN ACT -     Custodian
TEN ENT - as tenants by the entireties                    ------         ------                    -----         ------
JT TEN  - as joint tenants with right                     (Cust)         (Minor)                   (Cust)        (Minor)
          of survivorship and not as                      under Uniform Gifts to Minors           under Uniform Transfers to Minors
          tenants in common                               Act                                     Act
                                                             --------------------------              ------------------------------
                                                                     (State)                                     (State)
                         Additional abbreviations may also be used though not in the above list.
</TABLE>

FOR VALUE RECEIVED,                      hereby sell, assign and transfer unto
                   ----------------------

PLEASE INSERT SOCIAL SECURITY OR OTHER
   IDENTIFYING NUMBER OF ASSIGNEE
---------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
Please print or typewrite name and address including postal zip code of assignee

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
                                                                          Shares
--------------------------------------------------------------------------
of the Class A Common Stock represented by the within Certificate and do hereby
irrevocably constitute and appoint
                                                                        Attorney
------------------------------------------------------------------------
to transfer the said Shares on the books of the within named Corporation with
full power of substitution in the premises.

Dated
     -------------------------

                                  X
                                   ---------------------------------------------

                                  X
                                   ---------------------------------------------
                           NOTICE: THE SIGNATURE(S) TO THE ASSIGNMENT MUST
                                   CORRESPOND WITH THE NAME(S) AS WRITTEN UPON
                                   THE FACE OF THE CERTIFICATE IN EVERY
                                   PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT
                                   OR ANY CHANGE WHATEVER.

          SIGNATURE(S) GUARANTEED:
                                   ---------------------------------------------
                                   THE SIGNATURES(S) MUST BE GUARANTEED BY AN
                                   ELIGIBLE GUARANTOR INSTITUTION (BANKS,
                                   STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
                                   AND CREDIT UNIONS WITH MEMBERSHIP IN AN
                                   APPROVED SIGNATURE GUARANTEE MEDALLION
                                   PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-16.

KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN, MUTILATED OR
DESTROYED, THE CORPORATION WILL REQUIRE A BOND OF INDEMNITY AS A CONDITION TO
THE ISSUANCE OF A REPLACEMENT CERTIFICATE.

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