Document:

Form of Registration Rights Agreement between the Company & certain purchasers

 Exhibit 4.3 
  

REGISTRATION RIGHTS AGREEMENT 
  
 THIS REGISTRATION RIGHTS AGREEMENT, dated as of [        , 2003] (this “Agreement”), is
made by ACCLAIM ENTERTAINMENT, INC., a Delaware corporation (the “Company”), and those persons named in Schedule 1 (together, the “Purchasers”). 
  
 W I T N E S S E T H: 
  
 WHEREAS, pursuant to an Investment Agreement, dated as of the date hereof, between the Company and the Purchasers (the “Investment
Agreement”), the Company has agreed to issue and sell to the Purchasers, a total of              shares (the “Shares” or the “Registrable
Securities”) of the Company’s common stock, par value $.02 per share (the “Common Stock”); and Warrants (the “Warrants”) to purchase
                 shares of Common Stock. The Shares of Common Stock underlying the Warrants are also herein, collectively with the Shares, referred to as the
“Registrable Securities”; 
  
 WHEREAS, to
induce the Purchasers to execute and deliver the Investment Agreement, the Company has agreed to provide to the Purchasers and their permitted assigns certain registration rights under the Securities Act of 1933, as amended (the “Securities
Act”), and applicable state securities laws; and 
  
 WHEREAS, in connection with the consummation of the transactions contemplated by the Investment Agreement, the parties hereto are also entering into, of even date herewith, a warrant agreement (the “Warrant
Agreement”). This Agreement, together with the Investment Agreement and the Warrant Agreement are hereinafter collectively referred to as the “Transaction Documents”. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Purchasers hereby agree as follows: 
  
 1. Definitions. 
  
 As used in this Agreement, the following terms shall have the following meanings: 
  
 (a) “Claims” shall have the meaning ascribed to it in Section 6(a). 
  
 (b) “Demand Deferral Notice” shall have the meaning ascribed
to it in Section 2(iv). 
  
 (c) “Effectiveness
Date” means the [        ] day following the Closing Date. 

 (d) “Excess Liability” shall have the meaning ascribed to it in Section 6(d).

  
 (e) “Filing Date” means the
[        ] day following the Closing Date. 
  
 (f) “Holder” or “Holders” mean a holder or holders of Registrable Securities. 
  
 (g) “Indemnified Person” shall have the meaning ascribed to it in Section 6(a). 
  
 (h) “Inspectors” shall have the meaning ascribed to it in
Section 3(k). 
  
 (i) “Records” shall have the
meaning ascribed to it in Section 3(k). 
  
 (j)
“Registration Period” shall have the meaning ascribed to it in Section 2(ii). 
  

	 	(k)	 	“Registration Statement” means a registration statement or registration statements of the Company filed under the Securities Act covering Registrable Securities.

  

	 	(l)	 	“Register,” “Registered” and “Registration” refer to a registration effected by preparing and filing a registration statement in
compliance with the Securities Act and pursuant to Rule 415 under the Securities Act or any successor rule providing for offering securities on a continuous basis (“Rule 415”), and the declaration or ordering of effectiveness of
such registration statement by the United States Securities and Exchange Commission (the “Commission”). 

  
 (m) “Rule 144” shall have the meaning ascribed to it in Section 8. 
  
 (n) “Securities Act” shall mean the Securities Act of 1933, as amended. 
  
 (o) “Violations” shall have the meaning ascribed to it in
Section 6(a). 
  
 Capitalized terms used herein and not otherwise
defined herein shall have the meanings set forth in the Investment Agreement or elsewhere in the Transaction Documents. 
  
 2. Mandatory Registration. 
  
 (i) The Company shall use its best efforts to prepare and file with the Commission not later than the Filing Date a Registration Statement or Registration
Statements (as necessary) on Form S-3 covering the resale of all of the Registrable Securities. In the event that Form S-3 is unavailable and/or inappropriate for such a registration, the Company shall use such other form as is available and
appropriate for such a registration. Any Registration Statement prepared pursuant hereto shall register for resale at least that number of shares of Common Stock equal to the Shares. The Company shall use its best efforts to cause the Registration
Statement to be declared effective under the Securities Act as promptly as possible 
  

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 after the filing thereof, but in any event prior to the Effectiveness Date; provided that, if the Registration
Statement is not declared effective by the Effectiveness Date, the Company shall pay to each Purchaser an amount equal to one percent (1%) of the purchase price paid for the Shares purchased by such Purchaser. Thereafter, for every 30 days that pass
without the Registration Statement being declared effective after the Effectiveness Date, the Company shall pay to such Purchaser an additional amount equal to one percent (1%) of the purchase price paid for the Shares purchased by such Purchaser.

  
 (ii) The Company shall use its best efforts to keep each
Registration Statement effective pursuant to Rule 415 at all times until such date as is the earlier of (i) the date on which all of the Registrable Securities have been sold and (ii) the date on which the Registrable Securities (in the opinion of
counsel to the Purchasers and acceptable to legal counsel for the Company) may be immediately sold without restriction (including without limitation as to volume restrictions by each holder thereof) without registration under the Securities Act (the
“Registration Period”). 
  
 (iii) If any offering
pursuant to a Registration Statement, pursuant to Section 2 hereof, involves an underwritten offering (which may only be with the consent of the Company), the Purchasers shall have the right to select legal counsel and an investment banker or
bankers and manager or managers to administer to the offering, which investment banker or bankers or manager or managers shall be reasonably satisfactory to the Company. 
  
 (iv) Notwithstanding the foregoing, if the Company shall furnish to the Purchasers a certificate signed by the President or
Chief Executive Officer of the Company (a “Demand Deferral Notice”) stating that, in the good faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the Company and its shareholders for such
Registration Statement to be filed and it is therefore essential to defer the filing of such Registration Statement, then the Company shall have the right to defer such filing for a period of not more than 30 days after the 60th day after the Closing Date or the date upon which the Company receives notice from the Purchasers of their desire to have the
Registrable Securities registered; provided, however, that the Company may not utilize this right more than once in any 12-month period. 
  
 (v) If the Registrable Securities are registered for sale under the Securities Act, the Purchasers shall cease any
distribution of such shares under the Registration Statement not more than twice in any 12-month period, for up to 30 days each, upon the request of the Company if: (x) such distribution would require the public disclosure of material non-public
information concerning any transaction or negotiations involving the Company or any of its affiliates that, in the good faith judgment of the Company’s Board of Directors, would materially interfere with such transaction or negotiations, (y)
such distribution would otherwise require premature disclosure of information that, in the good faith judgment of the Company’s Board of Directors, would adversely affect or otherwise be detrimental to the Company or (z) the Company proposes to
file a registration statement under the Securities Act for the offering and 
  

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 sale of securities for its own account in an underwritten offering and the managing underwriter therefor shall advise the
Company in writing that in its opinion the continued distribution of the Registrable Securities would adversely affect the success of the offering of the securities proposed to be registered for the account of the Company. The Company shall promptly
notify the Purchasers at such time as (i) such transactions or negotiations have been otherwise publicly disclosed or terminated, or (ii) such non-public information has been publicly disclosed or counsel to the Company has determined that such
disclosure is not required due to subsequent events. 
  
 3.
Obligations of the Company. In connection with the registration of the Registrable Securities, the Company shall do each of the following: 
  
 (a) Prepare and file with the Commission the Registration Statements required by Section 2 of this Agreement and such amendments (including post-effective
amendments) and supplements to the Registration Statements and the prospectuses used in connection with the Registration Statements, as may be necessary to keep the Registration current at all times during the Registration Period, and, during the
Registration Period, to comply with the provisions of the Securities Act with respect to the disposition of all of the Registrable Securities until such time as all of such Registrable Securities have been disposed of in accordance with the intended
methods of disposition by the seller or sellers thereof as set forth in the Registration Statements; 
  
 (b) If the Registrable Securities are included in a Registration Statement, the Company shall promptly furnish, after such Registration Statement is
prepared, filed with the Commission, publicly disseminated and distributed and received by the Company, to the Purchasers and their legal counsel, a copy of the Registration Statement, each preliminary prospectus, each final prospectus, and all
amendments and supplements thereto and such other documents as the Purchasers may reasonably request in order to facilitate the disposition of their Registrable Securities; 
  
 (c) Use all best efforts to (i) register and qualify the Registrable Securities covered by the Registration Statement under
such other securities or blue sky laws, if applicable, of such jurisdictions as the Purchasers may reasonably request, (ii) prepare and file in those jurisdictions such amendments (including post-effective amendments) and supplements to such
registrations and qualifications as may be necessary to maintain the effectiveness thereof at all times during the Registration Period, (iii) take such other actions as may be necessary to maintain such registrations and qualifications in effect at
all times during the Registration Period and (iv) take all other actions necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions, except that the Company shall not for any such purpose be required to qualify
generally to do business as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this subsection (c) be obligated to be so qualified, or to subject itself to taxation in any such jurisdiction, or to consent to
general service of process in any such jurisdiction; 
  

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 (d) List such securities on The Nasdaq SmallCap Market and all the other national securities exchanges on
which any securities of the Company are then listed, and file any filings required by The Nasdaq SmallCap Market and/or such other securities exchanges; 
  
 (e) Notify each Purchaser and (if requested by the Purchaser) confirm such advice in writing, (i) when or if the prospectus or any prospectus supplement
or post-effective amendment has been filed with the Commission, and, with respect to the Registration Statement or any post-effective amendment, when the same has been declared effective by the Commission, (ii) of any request by the Commission for
amendments or supplements to the Registration Statement or the prospectus or for additional information, (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or the initiation of any
proceedings for that purpose, (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for
such purpose, and (v) of the happening of any event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 
  
 (f) If any fact contemplated by clause (v) of paragraph (e), above, shall exist, prepare a supplement or post-effective amendment to the Registration
Statement or the related prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchaser of the Registrable Securities the prospectus will not contain an untrue
statement of material fact or omit to state any material fact necessary to make the statements therein not misleading; 
  
 (g) If the Company has consented to an underwritten offering and such offering is underwritten, at the request of a Purchaser, to furnish on the date that
Registrable Securities are delivered to the underwriters for sale pursuant to such registration: (i) an opinion dated such date of counsel representing the Company for the purposes of such registration, addressed to the underwriters and to any
Purchaser selling Registrable Securities in connection with such underwriting, stating that such registration statement has become effective under the Securities Act and that (A) to the best knowledge of such counsel, no stop order suspending the
effectiveness thereof has been issued and no proceedings for that purpose have been instituted or are pending or contemplated under the Securities Act and (B) the registration statement, the related prospectus and each amendment or supplement
thereof comply as to form in all material respects with the requirements of the Securities Act (except that such counsel need not express any opinion as to financial statements or other financial data contained therein) and (ii) a letter dated such
date from the Company’s independent public accountants addressed to the underwriters and to such Purchasers, stating that they are independent public accountants within the meaning of the Securities Act and that, in the opinion of such
accountants, the financial statements of the Company included in the registration statement or the prospectus, or any amendment or supplement thereof, comply as to form in all material respects with the applicable accounting requirements of the
Securities Act, and such letter shall additionally cover such other 
  

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 financial matters (including information as to the period ending no more than five business days prior to the date of
such letter) with respect to such registration as such underwriters may reasonably request; 
  
 (h) Cooperate with the Purchasers to facilitate the timely preparation and delivery of certificates for the Registrable Securities to be offered pursuant to the Registration Statement and to enable such certificates
for the Registrable Securities to be in such denominations or amounts, as the case may be, as the Purchasers may reasonably request, and registered in such names as the Purchasers may request; and, within three business days after a Registration
Statement which includes Registrable Securities is ordered effective by the Commission, the Company shall deliver, and shall cause legal counsel selected by the Company to deliver, to the transfer agent for the Registrable Securities (with copies to
the Purchasers) an appropriate instruction and opinion of such counsel, satisfactory to the Company and its legal counsel; 
  
 (i) Enter into customary agreements (including, in the case of an underwritten offering, underwriting agreements in customary form, and including
provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary and appropriate actions in order to expedite
or facilitate the disposition of such Registrable Securities and in connection therewith: 
  
 (i) make such representations and warranties to the Purchasers and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings;

  
 (ii) to the extent requested and customary for the relevant
transaction, enter into a securities sales agreement with the Purchasers and such representative of the Purchasers as the Purchasers covered by any Registration Statement shall select relating to the Registration and providing for, among other
things, the appointment of such representative as agent for the selling Purchasers for the purpose of soliciting purchases of Registrable Securities, which agreement shall be customary in form, substance and scope and shall contain customary
representations, warranties and covenants; and 
  
 (iii) deliver
such customary documents and certificates as may be reasonably requested by the Purchasers whose Registrable Securities are being sold or by the managing underwriters, if any. 
  
 The above shall be done (y) at the effectiveness of such Registration Statement (and each post-effective amendment thereto) in connection
with any registration, and (z) at each closing under any underwriting or similar agreement as and to the extent required thereunder; 
  
 4. Obligations of the Purchasers to Provide Information. In connection with the registration of the Registrable Securities, each Purchaser
shall furnish to the Company such 
  

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 information regarding itself, the Registrable Securities held by it and the intended method of disposition of the
Registrable Securities held by it as shall be reasonably required to effect the registration of such Registrable Securities, and each Purchaser shall execute any and all such documents in connection with such registration as the Company and its
legal counsel may reasonably request. At least ten business days prior to the first anticipated filing date of the Registration Statement, the Company shall notify the Purchasers of the information the Company requires of the Purchasers to be
included in the Registration Statement. Each Purchaser shall give sufficient notice to the Company before selling any Registrable Securities so that the Company may prepare and file any necessary post-effective amendments to the Registration
Statement or such additional filings as shall be necessary or desirable. 
  
 5. Expenses of Registration. All expenses, other than underwriting discounts and commissions and other fees and expenses of investment bankers and other than brokerage commissions, incurred in connection
with registrations, filings or qualifications pursuant to Section 3, but including, without limitation, all registration, listing, and qualification fees, printing and accounting fees, and the fees and disbursements of counsel for the Company, and
the fees of one counsel to the Purchasers with respect to each Registration Statement filed pursuant hereto, shall be borne by the Company provided, that the expenses of such Purchasers’ counsel shall not exceed $15,000. 
  
 6. Indemnification. In the event any Registrable Securities are
included in a Registration Statement under this Agreement: 
  
 (a)
The Company will indemnify and hold harmless each Purchaser, each of its officers, directors, partners and shareholders, and each person, if any, who controls each Purchaser within the meaning of the Securities Act or the Exchange Act (each, an
“Indemnified Person”), against any losses, claims, damages, liabilities or expenses (joint or several) incurred (collectively, “Claims”) to which any of them may become subject under the Securities Act, the Exchange
Act or otherwise, insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in the
Registration Statement or any post-effective amendment thereof or the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances in
which they were made, not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus if used prior to the effective date of such Registration Statement, or contained in the final
prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the Commission) or the omission to state therein any material fact necessary in order to make the statements made therein, in light of the
circumstances under which they were made, not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state or foreign securities law or any rule or regulation under the Securities Act, the
Exchange Act or any state or foreign securities law (the matters in foregoing clauses (i) through (iii) being, collectively, “Violations”). The Company shall, subject to the provisions of Section 6(b) below, reimburse each
Purchaser, promptly as such expenses are incurred and are 
  

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 due and payable, for any reasonable legal and other reasonable costs, expenses and disbursements in giving testimony or
furnishing documents in response to a subpoena or otherwise, including without limitation, the costs, expenses and disbursements, as and when incurred, of investigating, preparing or defending any such action, suit, proceeding or investigation
(whether or not in connection with litigation in which the Purchaser is a party), incurred by it in connection with the investigation or defense of any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 6(a) shall not (i) apply to any Claim arising out of or based upon a modification which occurs in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of any
Indemnified Person expressly for use in connection with the preparation of the Registration Statement or any such amendment thereof or supplement thereto; (ii) with respect to any preliminary prospectus, inure to the benefit of any such person from
whom the person asserting any such Claim purchased the Registrable Securities that are the subject thereof (or to the benefit of any person controlling such person) if the untrue statement or omission of material fact contained in the preliminary
prospectus was corrected in the final prospectus, as then amended or supplemented, if such final prospectus was timely made available by the Company pursuant to Section 3(b) hereof; (iii) be available to the extent that such Claim is based upon a
failure of the Purchaser to deliver or to cause to be delivered the prospectus made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(b) hereof; or (iv) apply to amounts paid in settlement of
any Claim if such settlement is effected without the prior written consent of the Company, which consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of
the Indemnified Person and shall survive the transfer of the Registrable Securities by the Purchaser pursuant to Section 9. 
  
 (b) Each Purchaser will indemnify the Company and its officers and directors against any Claims arising out of or based upon a Violation which occurs in
reliance upon and in conformity with information furnished in writing to the Company, by or on behalf of the Purchaser, expressly for use in connection with the preparation of the Registration Statement (including any modifications, amendments or
supplements thereto), subject to such limitations and conditions as are applicable to the Indemnification provided by the Company in this Section 6; provided, however, that in no event shall any indemnity by any Purchaser under this Section 6 exceed
the amount of the net proceeds received by such Purchaser in connection with the offering effected through such Registration Statement. 
  
 (c) Promptly after receipt by an Indemnified Person under this Section 6 of notice of the commencement of any action (including any governmental action),
such Indemnified Person shall, if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the
right to participate in, and to the extent that the indemnifying party so desires, jointly with any other indemnifying party similarly notified, to assume control of the defense thereof with counsel mutually satisfactory to the indemnifying party
and the Indemnified Person, provided, however, that an Indemnified 
  

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 Person shall have the right to retain its own counsel with the reasonable fees and expenses to be paid by the
indemnifying party, if, in the reasonable opinion of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified Person and the indemnifying party would be inappropriate due to actual or potential differing
interests between such Indemnified Person and any other party represented by such counsel in such proceeding. In such event, the Company shall pay for only one separate legal counsel for the Purchasers, and such legal counsel shall be selected by
the Purchasers. The failure to deliver written notice to an indemnifying party within a reasonable time after the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified Person under this Section
6, except to the extent that the indemnifying party is materially prejudiced in its ability to such action. The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the
investigation or defense, as such expense, loss, damage or liability is incurred and is due and payable. 
  
 (c) No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry of
any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Person of an unconditional and irrevocable release from all liability in respect of such
claim or litigation. 
  
 (d) Notwithstanding the foregoing, to the
extent that any provisions relating to indemnification or contribution contained in the underwriting agreements entered into among the Company, the underwriters and the Purchasers in connection with the underwritten public offering are in conflict
with the foregoing provisions, the provisions in such underwriting agreements shall be controlling as to the Registrable Securities included in the public offering; provided, however, that if, as a result of this Section 6(d), a
Purchaser, its officers, directors, partners, shareholders or any person controlling the Purchaser is or are held liable with respect to any Claim for which they would be entitled to indemnification hereunder but for this Section 6(d) in an amount
which exceeds the aggregate proceeds received by the Purchaser from the sale of Registrable Securities included in a registration pursuant to such underwriting agreement (the “Excess Liability”), the Company shall reimburse the
Purchasers for such Excess Liability. 
  
 7.
Contribution. To the extent any indemnification by an indemnifying party is prohibited or limited under applicable law, the indemnifying party agrees to contribute to the amount paid or payable by such indemnified party as a result
of such loss, claim, damage, liability or expense in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the Indemnified Person on the other hand in connection with the statements or
omissions which resulted in such Claim, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and the Indemnified Person shall be determined by reference to, among other things, whether the untrue
statement of a material fact or the omission to state a material fact on which such Claim is based relates to information supplied by the indemnifying party or by the Indemnified Person, and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission. Notwithstanding the forgoing, (a) no contribution shall be made under 
  

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 circumstances where the payor would not have been liable for indemnification under the fault standards set forth in
Section 6, (b) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of
such fraudulent misrepresentation and (c) contribution by any seller of Registrable Securities shall be limited in amount to the net proceeds received by such seller from the sale of such Registrable Securities. The Company and the Purchasers agree
that it would not be just and equitable if contribution pursuant to this Section 7 were determined by pro rata allocation (even if the Purchasers and any other party were treated as one entity for such purpose) or by any other method
of allocation that does not take account of the equitable considerations referred to in this Section. 
  
 8. Reports Under Exchange Act. With a view to making available to the Purchasers the benefits of Rule 144 promulgated under the Securities
Act or any other similar rule or regulation of the Commission that may at any time permit the Purchasers to sell securities of the Company to the public without registration (“Rule 144”), the Company agrees to: 
  
 (i) make and keep public information available, as those terms are understood
and defined in Rule 144; 
  
 (ii) file with the Commission in a
timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act; and 
  
 (iii) furnish to each Purchaser so long as such Purchaser owns Shares promptly upon request, (i) a written statement by the Company that it has complied
with the reporting requirements of the Securities Act and the Exchange Act, (ii) a copy of the most recent annual or periodic report of the Company and such other reports and documents so filed by the Company and (iii) such other information as may
be reasonably requested to permit the Purchaser to sell such securities pursuant to Rule 144 without registration. 
  
 9. Assignment of the Registration Rights. The rights to have the Company register Registrable Securities pursuant to this Agreement shall be
automatically assigned by a Purchaser to any transferee of the Shares held by such Purchaser if: (a) such Purchaser agrees in writing with the transferee or assignee to assign such rights, and a copy of such agreement is furnished to the Company
within a reasonable time after such assignment; (b) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of the name and address of such transferee or assignee; (c) at or before the time the
Company receives the written notice contemplated by clause (b) of this sentence, the transferee or assignee agrees in writing with the Company to be bound by all of the provisions contained herein; and (d) the transfer of the relevant Shares
complies with the restrictions set forth in Section 4 of the Share Purchase Agreement. 
  
 10. Amendment of Registration Rights. Any provision of this Agreement may be amended and 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 
  

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 Purchasers holding two thirds (2/3) of the outstanding Registrable Securities. Any amendment or waiver effected in
accordance with this Section 10 shall be binding upon the Purchasers and the Company. 
  
 11. Miscellaneous. 
  
 (a)
A person or entity is deemed to be a holder of Registrable Securities whenever such person or entity owns of record such Registrable Securities. If the Company receives conflicting instructions, notices or elections from two or more persons or
entities with respect to the same Registrable Securities, the Company shall act upon the basis of the instructions, notice or election received from the registered owner of such Registrable Securities. 
  
 (b) Any notice required or permitted hereunder shall be given in writing
(unless otherwise specified herein) and shall be effective upon personal delivery, via facsimile (upon receipt of confirmation of error-free transmission) or two business days following deposit of such notice with an internationally recognized
courier service, with postage prepaid and addressed to each of the other parties thereunto entitled at the following addresses, or at such other addresses as a party may designate by ten (10) days advance written notice to each of the other parties
hereto. 
  

	COMPANY:	 	 Acclaim Entertainment, Inc.
 One Acclaim
Plaza
 Glen Cove, New York 11542
 Attention: Mr. Gerard
Agoglia
                   Chief Financial Officer
 Tel.: (516) 656-5000
 Fax: (516) 656-2039
	 	 
			
	 	 	With copies to:	 	 
			
	 	 	 Acclaim Entertainment, Inc.
 One Acclaim
Plaza
 Glen Cove, New York 11542
 Attention: Edward M.
Slezak
 Tel.: (516) 656-5000
 Fax: (516)
656-2039
	 	 
			
	PURCHASERS:	 	to the addresses set forth on the signatures pages hereto.	 	 

  
 (c) Failure of any
party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall not operate as a waiver thereof. 
  

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 (d) This Agreement shall be governed by and interpreted in accordance with the laws of the State of New
York. Each of the parties agrees to the jurisdiction of the federal courts whose districts encompass any part of the City of New York or the state courts of the State of New York sitting in the City of New York in connection with any dispute arising
under this Agreement and hereby waives, to the maximum extent permitted by law, any objection, including any objection based on forum non conveniens, to the bringing of any such proceeding in such jurisdictions. This Agreement may be
signed in two or more counterparts, each of which shall be deemed an original. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement. If any provision of this
Agreement shall be invalid or unenforceable in any jurisdiction, such validity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement or the validity or enforceability of this Agreement in any other
jurisdiction. Subject to the provisions of Section 10 hereof, this Agreement may be amended only by an instrument in writing signed by the party to be charged with enforcement. 
  
 (e) This Agreement, together with the other Transaction Documents, constitutes the entire agreement among the parties hereto
with respect to the subject matter hereof. This Agreement supersedes all prior agreements and understandings among the parties hereto with respect to the subject matter hereof. 
  
 (f) Subject to the requirements of Section 9 hereof, this Agreement shall inure for the benefit of and be binding upon the
successors and assigns of each of the parties hereto. 
  
 (g) All
pronouns and any variations thereof refer to the masculine, feminine or neuter, singular or plural, as the context may require. 
  
 (h) The Company acknowledges that any failure by the Company to perform its obligations under Section 2, or any delay in such performance could result in
direct and indirect damages to the Purchasers, and the Company agrees that, in addition to any other liability the Company may have by reason of any such failure or delay, the Company shall be liable for all direct and consequential damages caused
by any such failure or delay. Nothing herein shall limit the Purchasers’ right to pursue any claim seeking such direct or consequential damages. 
  
 (i) The obligations of each Purchaser hereunder is several and not joint with the obligations of any other Purchaser hereunder, and no Purchaser shall be
responsible in any way for the performance of the obligations of any other Purchaser hereunder. Nothing contained herein or in any other agreement or document delivered at the Closing, and no action taken by any Purchaser pursuant hereto or thereto,
shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert with respect to such obligations or the
transactions contemplated by this Agreement. Each Purchaser shall be entitled to protect and enforce its rights, including without limitation the rights arising out of this Agreement, and it 
  

 12 

 shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such purpose.

  
 IN WITNESS WHEREOF, this Registration Rights Agreement
has been duly executed by the undersigned. 
  
 Dated:
[        , 2003] 
  

	ACCLAIM ENTERTAINMENT, INC.
		
	 By:
	 	 
	 	

	Name:	 	 
	Title:	 	 

  

	PURCHASER 
		
	 By:
	 	 
	 	

	Name:	 	 
	Title:	 	 

  

	PURCHASER 
		
	 By:
	 	 
	 	

	Name:	 	 
	Title:	 	 

  

 13 

 SCHEDULE 1 
  

	 Name of Purchaser

	 	 Number of Shares

	 	 Dollar AmountForm of Warrant between the Company and certain purchasers

 Exhibit 4.4 
  

 ACCLAIM ENTERTAINMENT, INC. 
 WARRANT TO PURCHASE SHARES OF COMMON STOCK 

  

 THIS SECURITY AND THE SECURITIES ISSUABLE UPON
EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED, ASSIGNED OR TRANSFERRED EXCEPT (i) PURSUANT TO A REGISTRATION STATEMENT UNDER THE ACT
WHICH HAS BECOME EFFECTIVE AND IS CURRENT WITH RESPECT TO THE SECURITIES, OR (ii) PURSUANT TO A SPECIFIC EXEMPTION FROM REGISTRATION UNDER THE ACT BUT ONLY UPON THE HOLDER HEREOF FIRST HAVING OBTAINED THE WRITTEN OPINION OF COUNSEL TO THE COMPANY,
OR OTHER COUNSEL ACCEPTABLE TO THE COMPANY, THAT THE PROPOSED DISPOSITION IS CONSISTENT WITH ALL APPLICABLE PROVISIONS OF THE ACT AS WELL AS ANY APPLICABLE, “BLUE SKY” OR SIMILAR SECURITIES LAW. 

  
 [                , 2003] 
  
 ACCLAIM ENTERTAINMENT, INC. 
  
 For good and valuable consideration the receipt and sufficiency of which is hereby acknowledged by Acclaim Entertainment, Inc., a Delaware corporation, with its principal office at One Acclaim Plaza, Glen Cove, New
York 11542 (the “Company”), [                    ] (the “Holder”), of
[                                ], subject to the terms and conditions of this Warrant,
is hereby granted the right to purchase, at the initial exercise price of $.50 per share of common stock, $0.02 par value, of the Company (the “Common Stock”) (the “Initial Exercise Price”), at any one or more times after the
date hereof until 5:00 p.m. on [ , 2008], in the aggregate, [                    ] shares of Common Stock (the “Shares”) subject to
adjustment as provided in Section 5 hereof. 
  
 This Warrant
initially is exercisable at the Initial Exercise Price payable in cash (except as provided below), by certified or official bank check in New York Clearing House funds or other form of payment satisfactory to the Company, subject to adjustment as
provided in Section 5 hereof. 
  
 1. Exercise of
Warrant. The purchase rights represented by this Warrant are exercisable at the option of the Holder hereof, in whole or in part, at one or more times during any period in which this Warrant may be exercised as set forth above. The Holder
shall not be deemed to have exercised its purchase rights hereunder until the Company receives written notice of the Holder’s intent to exercise its purchase rights hereunder. The written notice shall be in the form of the Subscription Form
attached hereto and made a part hereof. Less than all of the Shares may be purchased under this Warrant. In lieu of exercising this Warrant by the payment of cash, the Holder may elect to receive, without the payment by the Holder of any additional
consideration, shares equal to the value of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with notice of such election, in which event the Company shall issue to the
holder hereof a number of shares of Common Stock computed using the following formula: 

	 X =
	  	 Y (A—B)

	 	  	A

  
 Where 
  

	 	X —	 	The number of shares of Common Stock to be issued to the Holder pursuant to this net exercise; 

  

	 	Y —	 	The number of shares of Common Stock in respect of which the exercise election is made; 

  

	 	A —	 	The Market Price of one share of the Company’s Common Stock at the time the exercise election is made; 

  

	 	B —	 	The Exercise Price (as adjusted to the date of net exercise). 

  
 In addition to issuing to the Holder the number of shares represented by “X” in the forgoing formula pursuant to such exercise, the Company
shall also reduce the number of Shares covered by this Warrant by the number of shares represented by “Y” in the foregoing formula. 
  
 As used herein, the term “Market Price” shall mean the average of the closing price of the Company’s Common Stock on any national
securities exchange, on the Nasdaq National Market or the Nasdaq SmallCap Market, or, if the Company’s Common Stock is not so listed on any national securities exchange, on the Nasdaq National Market or the Nasdaq SmallCap Market, then on the
domestic over-the-counter market as reported by the National Quotation Bureau, Incorporated, or any similar successor organization, for the ten (10) trading days prior to the date the Holder exercises this Warrant. 
  
 2. Issuance of Certificates. Upon the exercise of this Warrant,
the issuance of certificates for Shares underlying this Warrant shall be made forthwith (and in any event within five days) after the Company’s receipt of (i) written notice hereunder as specified in Section 1 above) and (ii) good funds in
respect of the Purchase Price (as defined in Section 4(b) hereof) pursuant to Section 4 hereof for the shares so exercised and such certificates shall be issued in the name of the Holder hereof. 
  
 3. Restriction on Transfer; Investment Representations; Registration
Rights. 
  
 (a) Restriction on Transfer. The Holder
acknowledges that neither this Warrant nor any Shares issuable upon exercise hereof have been registered under the Securities Act of 1933, as amended (the “Act”), and neither may be sold or transferred in whole or in part unless the Holder
shall have first given prior written notice to the Company describing such sale or transfer and furnished to the Company an opinion of Company counsel, to the effect that the proposed sale or transfer may be made without registration under the Act;
provided, however, that the foregoing shall not apply if there is in effect a registration statement with respect to this Warrant or the Shares issuable upon exercise hereof, as the case may be, at the time of the proposed sale or
transfer. Upon exercise, in part or in whole, of this Warrant, each certificate issued representing the Shares underlying this Warrant shall bear a legend to the foregoing effect. 
  

 2 

 (b) Investment Representations. The Holder represents that: (i) it is an accredited investor
within the meaning of Regulation D under the Act; (ii) it is acquiring this Warrant and upon exercise hereof, the Shares, for its own account for investment only, and not with a view towards, or for resale in connection with, their distribution;
(iii) it has had an opportunity to discuss the Company’s business and affairs with management of the Company and is satisfied with the results thereof; (iv) it has also had the opportunity to ask questions of and receive answers from, the
Company and its management regarding the terms and conditions of its investment; and (v) it has received a copy of the Company’s Annual Report on Form 10-K relating to fiscal year ended March 31, 2003. 
  
 (c) Registration Rights. The Holder shall have such rights to request
the Company to register all or any of the Shares issuable upon exercise of this Warrant as set forth in the Registration Rights Agreement between the Company and Holder dated the date hereof. 
  
 4. Price. 
  
 (a) Initial and Adjusted Purchase Price. The initial Purchase Price
shall be equal to the Initial Exercise Price. The adjusted Purchase Price shall be the price that shall result from time to time from any and all adjustments of the initial purchase price in accordance with the provisions of Section 5 hereof.

  
 (b) Purchase Price. The term “Purchase Price”
herein shall mean the initial Purchase Price or the adjusted Purchase Price, as the case may be. 
  
 5. Adjustments of Purchase Price and Number of Shares. The Shares subject to this Warrant and the Purchase Price thereof shall be
appropriately adjusted by the Company in accordance herewith. 
  
 (a) Adjustment to Purchase Price and Number of Shares. In case, prior to the expiration of this Warrant by exercise or by its terms, the Company shall issue any shares of its Common Stock as a stock dividend or subdivide the number
of outstanding shares of its Common Stock into a greater number of shares, then in either of such cases, the then applicable purchase price per share of the shares of Common Stock purchasable pursuant to this Warrant in effect at the time of such
action shall be proportionately reduced and the number of shares at that time purchasable pursuant to this Warrant shall be proportionately increased; and conversely, in the event the Company shall contract the number of outstanding shares of Common
Stock by combining such shares into a smaller number of shares, then, in such case, the then applicable purchase price per share of the shares of Common Stock purchasable pursuant to this Warrant in effect at the time of such action shall be
proportionately increased and the number or shares of Common Stock purchasable pursuant to this Warrant shall be proportionately decreased. If the Company shall, at any time during the term of this Warrant, declare a dividend payable in cash on its
Common Stock and shall, at substantially the same time, offer to its stockholders a right to purchase new Common Stock from the proceeds of such dividend or for an amount substantially equal to the dividend, all Common Stock so issued shall, for the
purpose of this Warrant, be deemed to have been issued as a stock dividend. Any dividend paid or distributed upon the Common Stock shall be treated as a dividend paid in Common Stock to the extent that shares of Common Stock are issuable upon
conversion thereof. 
  

 3 

 (b) Purchase Price Reset Provision. In the event that prior to the expiration of this Warrant the
Company sells publicly or privately (i) shares of its Common Stock, (ii) securities convertible into shares of its Common Stock, or (iii) options or warrants to purchase shares of its Common Stock or securities convertible into shares of its Common
Stock at a sale, conversion or exercise price per share (the “Issue Price”), as the case may be, less than the Purchase Price then in effect, the Purchase Price shall be reset to the Issue Price and the number of shares purchasable
pursuant to this Warrant shall be increased pro rata to the percentage reduction in the Purchase Price, provided, however, that the reset provision shall not apply to (i) any shares issued upon exercise or conversion of any currently
outstanding options, warrants or convertible securities, or (ii) any Common Stock options or warrants issuable pursuant to an existing employee stock option plan or other existing compensation arrangement or any underlying Common Stock issued on the
exercise thereof, but not pursuant to any amendment relating thereto to the extent such amendment increases the number of shares issuable under such plan or arrangement. The Issue Price shall be calculated taking into account the amount paid for the
issuance of such Common Stock, option or warrant or convertible security and the amount, if any, payable upon the exercise or conversion thereof. 
  
 (c) Recapitalization. In case, prior to the expiration of this Warrant by exercise or by its terms, the Company shall be recapitalized by
reclassifying its outstanding Common Stock, (other than a change in par value to no par value), or the Company or a successor corporation shall consolidate or merge with or convey all or substantially all of its or of any successor
corporation’s property and assets to any other corporation or corporations (any such other corporations being included within the meaning of the term “successor corporation” hereinbefore used in the event of any consolidation or
merger of any such other corporation with, or the sale of all or substantially all of the property of any such other corporation to, another corporation or corporations), then, as a condition of such recapitalization, consolidation, merger or
conveyance, lawful and adequate provision shall be made whereby the Holder of this Warrant shall thereafter have the right to purchase, upon the basis and on the terms and conditions specified in this Warrant, in lieu of the shares of Common Stock
of the Company theretofore purchasable upon the exercise of this Warrant, such shares of stock, securities or assets of the other corporation as to which the Holder of this Warrant would have been entitled had this Warrant been exercised immediately
prior to such recapitalization, consolidation, merger or conveyance; and in any such event, the rights of the Warrant Holder to any adjustment in the number of shares of Common Stock purchasable upon the exercise of this Warrant, as hereinbefore
provided, shall continue and be preserved in respect of any stock which the Holder becomes entitled to purchase. 
  
 (d) Dissolution. In case the Company at any time while this Warrant shall remain unexpired and unexercised shall sell all or substantially all of
its property or dissolve, liquidate or wind up its affairs, lawful provision shall be made as part of the terms of any such sale, dissolution, liquidation or winding up, so that the Holder of this Warrant may thereafter receive upon exercise hereof
in lieu of each share of Common Stock of the Company which it would have been entitled to receive, the same kind and amount of any securities or assets as may be issuable, distributable or payable upon any such sale, dissolution, liquidation or
winding up with respect to each share of Common Stock of the Company; provided, however, that in any case of any such sale or of dissolution, liquidation or winding up, the right to exercise this Warrant shall terminate on a date fixed
by the Company. Such date so fixed shall be no earlier than 3 P.M. New York City Time, on the forty-fifth (45th) day next succeeding the date on which notice of 
  

 4 

 such termination of the right to exercise this Warrant has been given by mail to the registered Holder of this Warrant at
its address as it appears on the books of the Company. 
  
 (e)
No Fractional Shares. Upon any exercise of this Warrant by the Holder, the Company shall not be required to deliver fractions of one share, but adjustment in the purchase price payable by the Holder shall be made in respect of any such
fraction of one share on the basis of the purchase price per share then applicable upon exercise of this Warrant. 
  
 (f) Notices. In the event that, prior to the expiration of this Warrant by exercise or by its terms, the Company shall determine to take a record
of its stockholders for the purpose of determining stockholders entitled to receive any dividend, stock dividend, distribution or other right whether or not it may cause any change or adjustment in the number, amount, price or nature of the
securities or assets deliverable upon the exercise of this Warrant pursuant to the foregoing provisions, the Company shall give at least ten (10) days’ prior written notice to the effect that it intends to take such record to the registered
Holder of this Warrant at its address as it appears on the books of the Company, said notice to specify the date as of which such record is to be taken, the purpose for which such record is to be taken, and the effect which the action which may be
taken will have upon this Warrant. 
  
 (g) Registered
Owner. The Company may deem and treat the registered Holder of the Warrant at any time as the absolute owner hereof for all purposes, and shall not be affected by any notice to the contrary. 
  
 (h) Status. This Warrant shall not entitle any Holder thereof to any
of the rights of a stockholder, and shall not entitle any Holder thereof to any dividend declared upon the Common Stock unless the Holder shall have exercised the within Warrant and purchased the shares of Common Stock prior to the record date fixed
by the Board of Directors for the determination of Holders of Common Stock entitled to exercise any such rights or receive said dividend. 
  
 (i) No Adjustment for Small Amounts. The Company shall not be required to give effect to any adjustment in the Purchase Price unless and until the
net effect of one or more adjustments, determined as above provided, shall have required a change of the Purchase Price by at least ten cents, but when the cumulative net effect of more than one adjustment so determined shall be to change the actual
Purchase Price by at least ten cents, such change in the Purchase Price shall thereupon be given effect. 
  
 6. Replacement of Warrant. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or
mutilation of this Warrant, and, in case of such loss, theft, destruction or mutilation, of indemnity or security reasonably satisfactory to it in its sole discretion, and reimbursement to the Company of all expenses incidental or relating thereto,
and upon surrender and cancellation of this Warrant (unless lost, stolen or destroyed), the Company will make and deliver a new Warrant of like tenor, in lieu of this Warrant. 
  
 7. Notices to Warrant Holder. Except as set forth in Section 5(f) hereto, nothing contained in this Warrant
shall be construed as conferring upon the Holder hereof the right to vote or to consent or to receive notice as a shareholder in respect of any meetings of shareholders 
  

 5 

 for the election of directors or any other matter, or as having any rights whatsoever as a shareholder of the Company.

  
 8. Notices. All notices, requests, consents and
other communications hereunder shall be in writing and shall be deemed to have been duly made when delivered, or mailed by registered or certified mail, return receipt requested: 
  
 (a) If to the registered Holder of this Warrant, to the address of such Holder as shown on the books of the Company; or

  
 (b) If to the Company, to the address set forth on the first
page of this Warrant or to such other address as the Company may designate by notice to the Holder. 
  
 9. Successors. All the covenants, agreements, representations and warranties contained in this Warrant shall bind the parties hereto and
their respective heirs, executors, administrators, distributees, permitted successors and permitted assigns. This Warrant may not be transferred without the prior written consent of the Company. Any attempted assignment in violation of the preceding
sentence shall be void and of no effect. 
  
 10.
Holdings. The headings in this Warrant are inserted for purposes of convenience only and shall have no substantive effect. 
  
 11. Law Governing. This Warrant is delivered in the State of New York and shall be construed and enforced in accordance with, and governed
by, the laws of the State of New York, without giving effect to conflicts of law principles. Each of the parties agrees to the jurisdiction of the federal courts whose districts encompass any part of the City of New York or the state courts of the
State of New York sitting in the City of New York in connection with any dispute arising under this Warrant and hereby waives, to the maximum extent permitted by law, any objection, including any objection based on forum non
conveniens, to the bringing of any such proceeding in such jurisdictions. 
  

 6 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be signed in its corporate name by, and
such signature to be attested to by, a duly authorized officer as of the date first above written. 
  

	 ACCLAIM ENTERTAINMENT, INC.

		
	 	 	 
	 By:
	 	

	 Name:
	 	

	 Title:
	 	

  
 ACCEPTED AND AGREED: 
  

  
  

 7 

 ASSIGNMENT 
  

(To Be Executed By the Registered Holder 
 to
Effect a Transfer of the Within Warrant) 
  

	 FOR VALUE RECEIVED

	 hereby sells, assigns and transfers unto

  

	
 (Name)

	
	
 (Address)
  

  
 the right to purchase Common Stock
evidenced by the within Warrant, to the extent                      of shares of Common Stock, and does hereby irrevocably constitute and
appoint
                                        
                                        
                                        
     to transfer the said right on the books of the Company, with full power of substitution. 
  
 Dated:
                                , 20    . 

 

	

	(Signature)

  

  

	NOTICE:	 	The signature to this assignment must correspond with the name as written upon the case of the within Warrant in every particular, without alteration or enlargement, or any change
whatsoever and must be guaranteed by a bank, other than a savings bank or trust company, having an office or correspondent in New York, or by a firm having membership on a registered national securities exchange and an office in New York, New York.

 FORM OF SUBSCRIPTION 
  
 (To be signed only upon exercise of Warrant) 
  
 To Acclaim Entertainment, Inc. 
  
 The undersigned hereby elects to [check applicable subsection]: 
  

	 	(a)	 	Purchase                         1 shares of Common Stock of Acclaim Entertainment, Inc. pursuant to the terms of the attached Warrant and tenders herewith
payment in full for the purchase price of the shares being purchased, together with all applicable transfer taxes, if any; 

  
 OR 
  

	 	(b)	 	Exercise the attached Warrant for [all of the shares]
[                        of the shares] [cross out inapplicable phrase] purchasable under the Warrant pursuant to the net
exercise provisions of Section 1 of such Warrant. 

  
 The
undersigned hereby represents that: 
  

	 	(a)	 	it is an accredited investor within the meaning of Regulation D under the Act; and 

  

	 	(b)	 	it is acquiring the Shares for its own account for investment only, and not with a view towards, or for resale in connection with, their distribution. 

  
  
 Dated: 
  

	

	 (Signature must conform in all respects
 to name of Holder as specified
 on the face of the Warrants)

	
	 
	
 (Address)

  
  
  
  

	 	1	 	Insert here the maximum number of shares or, in the case of a partial exercise, the portion thereof as to which the Warrant is being exercised.

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