Document:

Exhibit 10.24(h)

                             SIXTH AMENDMENT TO THE
                            PLAYBOY ENTERPRISES, INC.
                        EMPLOYEES INVESTMENT SAVINGS PLAN
                     (As Restated Effective January 1, 1997)

      WHEREAS,  Playboy Enterprises,  Inc. (the "Company") maintains the Playboy
Enterprises, Inc. Employees Investment Savings Plan as amended and most recently
restated  effective  January  1, 1997 and  amended  five times  thereafter  (the
"Plan");

      WHEREAS,  the  Company  wishes  to  further  amend and  clarify  the Plan,
effective   as  of  a  variety  of  dates,   primarily   to  add  an   automatic
enrollment/contribution  feature,  authorize  changing  to a  qualified  default
investment fund, allow expatriate  employees who remain on a domestic payroll to
continue  active  participation,  update for compliance  with final  regulations
under Code Section 415, allow direct rollovers for non-spouse  beneficiaries and
clarify the Plan  Administrator's  authority  and  discretion in these and other
respects;

      NOW,  THEREFORE,  pursuant to its  authority and Section 9.01 of the Plan,
the Company hereby amends the Plan in the following respects:

            1.    Section  3.07,  Limits on Annual Additions,  Subsection (a) is
amended by adding the following sentence to the end of that subsection:

      "Effective for Limitation Years beginning on or after January 1, 2002, (i)
      the dollar  limit is $40,000  (as  adjusted  thereafter  pursuant  to Code
      Section 415(d)) and the percentage limit is one hundred percent (100%)."

            2.    A new paragraph (iv) is added to Section 3.07(b), effective as
of January 1, 2002, to read as follows:

                  "(iv) Notwithstanding anything in the Plan to the contrary and
      consistent with Rev. Rul. 2002-45, a restorative payment that is allocated
      to a  Participant's  account does not give rise to an Annual  Addition for
      any Limitation Year."

            3.    A new Section 3.11 is added to the Plan, effective as of March
1, 2008, to read as follows:

            "Section 3.11 Automatic Enrollment.

                  (a)   Intent. The Plan shall begin to implement  an  automatic
      enrollment feature effective March 1, 2008 in accordance with this Section
      3.11.  Automatic  enrollment  under the Plan  shall  involve  the use of a
      "qualified automatic contribution  arrangement" ("QACA") under Section 514
      of ERISA and Code 401(k) (13), that also satisfies the "eligible automatic
      contribution  arrangement"  ("EACA")  conditions  of Code Section  414(w);
      except that, until 2009, this new automatic contribution feature shall not
      meet  the  QACA  safe  harbor   requirement  that  it  apply  for  a  full
      twelve-month Plan Year.

                  (b)   Automatic Salary Reduction. Newly Eligible Employees who
      commence   participation  on  or  after  March  1,  2008,  and  any  other
      Participant  who does not as of March 1, 2008 have an  affirmative  salary
      reduction election (including an election not to contribute, effectively a
      zero salary  reduction  percentage) in effect under

<PAGE>

      the  Plan,  shall  have a fixed  percentage  of  their  Eligible  Earnings
      automatically reduced from each payroll period that begins on or after the
      later of March 1,  2008 or the  date on  which  such  Eligible  Employee's
      participation in the Plan begins unless the Participant elects a different
      permitted salary reduction  contribution election amount (from zero to the
      highest level then  permitted  under the Plan) in accordance  with Section
      3.02 of the Plan.

            The fixed contribution  percentages under this Section 3.11(b) shall
      start at four  percent (4%) of covered  Eligible  Earnings for the initial
      Plan  Year to  which  automatic  salary  reduction  first  applies  to the
      Participant.  That automatic contribution percentage shall be successively
      increased by one percentage  point as of the start of each subsequent Plan
      Year for which the  Participant is subject to automatic  salary  reduction
      hereunder;  except that, if permitted by applicable  regulations governing
      QACA and EACA  features,  any  Participant  who first  becomes  subject to
      automatic  salary  reduction  on or after  July 1 during a Plan Year shall
      have the initial four percent (4%) automatic salary  reduction  percentage
      apply through the end of the next Plan Year in which the Participant could
      be  subject  to  automatic  salary  reduction  hereunder,  so the  initial
      increase to a five percent (5%) automatic salary reduction level would not
      take effect for that  Participant  until the start of the second full Plan
      Year  beginning  after  the  Plan  Year in  which  the  Participant  first
      commenced automatic salary reduction contributions hereunder.

            For example,  an Eligible Employee hired in 2008 who first joins the
      Plan in August of 2008 would, if that Employee did not make an affirmative
      salary  reduction  contribution  election  for the balance of 2008,  begin
      automatic salary reductions of four percent (4%) during 2008 and, if he or
      she did not make an affirmative  salary reduction election for 2009, would
      continue  automatically  at that same  four  percent  (4%)  level for 2009
      before having the  percentage  increase to five percent (5%) for 2010. But
      if that  Participant had joined the Plan in May of 2008 instead,  then his
      or her four  percent  (4%)  automatic  salary  deferral  percentage  would
      increase to five percent (5%) for 2009.

            Once  a  Participant  has  reached  an  automatic  salary  reduction
      contribution  percentage  of six percent  (6%) (which  would take  effect,
      under the foregoing rules, at the start of either the third or fourth Plan
      Year  during  which the  individual  was  eligible  for  automatic  salary
      reductions  if  not  for  an  affirmative   salary  reduction   election),
      thereafter,  the  automatic  contribution  percentage  may be increased in
      annual one (1) percentage point increments for any subsequent Plan Year at
      the  discretion  of the Plan  Administrator,  but in no event  shall  such
      percentage exceed ten percent (10%) for any Plan Year.

            To the extent permitted without  sacrificing QACA safe harbor status
      to be exempt from ADP and ACP Testing  under the  applicable  statutes and
      regulations,  the increase in the Plan's automatic contribution percentage
      may take effect as of the effective  date of the  Company's  annual salary
      increases  (typically  during  each  January)  for that Plan Year but such
      adjusted  percentage shall then apply  retroactively to the  Participant's
      adjusted Eligible Earnings for that entire Plan Year.

            The 10% salary reduction  contribution  limit for Highly Compensated
      Employees  under  Section   3.02(a)  may,  in  the  Plan   Administrator's
      discretion  and by its  announcement  in  advance,  be lifted and  removed
      effective as of any date designated  during the 2008 Plan Year. If the 10%
      limit is lifted,  then the same cap on salary reduction  contributions for
      other  Participants  under Section 3.02(a) shall also apply  thereafter to
      Highly  Compensated  Employees.  In any event,  that 10% salary  reduction
      contribution  limit will not apply beginning  January 1, 2009 if it is not
      lifted sooner.

                                      - 2 -

<PAGE>

                  (c)   Notice  of  Election  Rights.  Any  Participant  who  is
      subject to automatic  contributions  under Section  3.11(b) above shall be
      furnished  notice  (i) of their  salary  reduction  contribution  election
      rights in accordance with Code Section 414(w) and ERISA Section 514(e)(3),
      and (ii) of the  operation  of the QDIA  default  investment  fund and the
      Participant's  investment  direction  rights in  accordance  with  Section
      404(c)(5)(B)  of ERISA.  Such  notices may be  combined.  Generally,  such
      notices shall be provided no less than thirty (30) and no more than ninety
      (90) days before the start of each Plan Year (beginning with the 2009 Plan
      Year), or in accordance with other timing  requirements made applicable by
      regulation under those governing statutes.  However,  for 2008 and for any
      new Participant  commencing  participation after the start of a Plan Year,
      such  notices  instead may be furnished  (subject to different  regulatory
      requirements) during the ninety (90) day period ending on the later of the
      individual's first day of Plan participation or the first day on which the
      Participant becomes eligible for automatic salary reduction contributions.

                  (d)   Special  Withdrawal  Rights.  Any  Participant  for whom
      automatic salary reduction  contributions  first begin on or after January
      1, 2009 may - within  thirty  (30) days  after the first  payroll  date on
      which an automatic salary reduction contribution under Section 3.11(b) was
      withheld  from the  Participant's  paycheck or such longer  period (not to
      exceed a total of 90 days in aggregate),  as the Plan Administrator shall,
      in its discretion,  allow - make and file with the Plan  Administrator  an
      election to  withdraw  all the  automatic  salary  reductions  made on the
      Participant's  behalf  through the close of the next  payroll  period that
      begins  after the date on which that  withdrawal  election  is made.  Such
      withdrawal   election  shall  require  a  withdrawal  and  refund  to  the
      Participant of all such automatic salary reduction contributions, adjusted
      for investment gains and losses. Any matching  contributions  attributable
      to automatic salary reduction  contributions  withdrawn under this Section
      3.11(d) shall be forfeited immediately upon such withdrawal. Any automatic
      salary reduction  contributions withdrawn under this Section 3.11(d) shall
      not be counted for  purposes of the ADP Test,  if  applicable  (subject to
      Section  3.11(f)  below),  for the  Plan  Year  to  which  such  withdrawn
      contribution  relates.  Similarly,  any forfeited  matching  contributions
      attributable to withdrawn  automatic salary reduction  contributions under
      this Section 3.11(d) shall not be counted for purposes of any ACP Test, if
      applicable.  To the extent so provided by applicable  law, such  withdrawn
      and forfeited  contributions  also shall not count as Annual Additions for
      purposes of the limits under  Section 3.07 above.  Withdrawals  under this
      Section 3.11(d) shall not be eligible for direct rollover.

                  (e)   Matching  Contributions.  Notwithstanding any provisions
      of Section 3.03 to the contrary,  in accordance with Section 401(m)(12) of
      the Code, the matching contribution formula applicable to automatic salary
      reduction contributions shall be:

                  Automatic Salary        Cumulative Matching
                  Reduction Percentage    Contribution Percentage
                  --------------------    -----------------------
                        Up to 1%                   1.00%

                           2%                      1.50%

                           3%                      2.00%

                           4%                      2.50%

                                      - 3 -

<PAGE>

                  Automatic Salary        Cumulative Matching
                  Reduction Percentage    Contribution Percentage
                  --------------------    -----------------------
                           5%                      3.00%

                       6% or more                  3.50%

                  (f)   ADP/ACP Testing. For any Plan Year (beginning with 2009)
      to which the automatic salary reduction contribution  provisions apply for
      the entire  twelve-month  period, the Plan shall be deemed to satisfy both
      the ADP Test under  Section 3.04 above and the ACP Test under Section 3.05
      above without the need to actually run those tests.  This  exemption  from
      ADP and ACP Testing shall apply  provided that all the conditions for such
      safe harbor under Code Sections  401(k)(13) and (m)(12) to apply to a QACA
      feature are met for such Plan Year.

                  (g)   Vesting.   Notwithstanding  any  provisions  of  Section
      5.04(b) below to the contrary,  Matching  Contributions and Profit Sharing
      Contributions  attributable  to periods  that  begin on or after  March 1,
      2008, and  transferred  amounts  received by the Plan on or after March 1,
      2008  (to  the  extent  not  already  vested  more  generously  under  the
      transferor  plan),  shall vest  under the  following  table,  based on the
      complete Years of Service standing to the  Participant's  credit as of the
      date on which his or her employment with any and all Employers terminates:

                      Years of Service    Vested Percentage
                      ----------------    -----------------
                         Less than 2               0%

                          2 or more              100%

                  (h)   Separate  Accounting.  Notwithstanding any provisions of
      Section  4.01 or any  other  Plan  provisions  to the  contrary,  the Plan
      Administrator  shall establish and maintain  additional separate accounts,
      or sub-accounts,  to reflect (i) automatic  salary deferral  contributions
      apart  from  other  salary  reduction  contributions;  and  (ii)  matching
      contributions  which are subject to the  vesting  schedule  under  Section
      3.11(g) above apart from matching  contributions  which are subject to the
      vesting schedule under Section 5.04(b) below.

                  (i)   Refunds  of Excess  Contributions.  The  deadline  under
      Section  3.06(a) for  refunding  excess  contributions  (including  excess
      aggregate  contributions)  made for Plan Years  (beginning  with 2009) for
      which the Plan meets the QACA and EACA safe harbor  conditions in order to
      avoid the ten  percent  (10%)  excise  tax,  shall be  extended to six (6)
      months  after the last day of the Plan Year in which such  excess  amounts
      arose, to the extent such extension and tax avoidance is authorized  under
      Code  Section   4979,   as  amended.   In  addition,   refunds  of  excess
      contributions shall not include gap period income (the investment earnings
      on such refundable  excess  contributions  for the period after the end of
      the Plan Year for which  such  excess  contributions  were made  until the
      excess   contributions   are  refunded)  to  the  extent  such  investment
      adjustment is no longer required under Code Section 4979.

                                      - 4 -

<PAGE>

                  (j)   Resumption   After   Suspension.   If  a   Participant's
      automatic  salary  reduction   contributions  are  suspended  following  a
      hardship  withdrawal  under Section 7.02, when the suspension  period ends
      and automatic salary reduction  contributions  resume they shall resume at
      the fixed  percentage  level then applicable  under Section 3.11(b) at the
      time  such   contributions   resume   regardless  of  what  the  automatic
      contribution level last was before the hardship withdrawal.

                  (k)   Miscellaneous.  Except as provided in this Section 3.11,
      automatic  salary  reduction  contributions  shall be  treated  as  salary
      reduction  contributions  for  purposes of all other Plan  provisions  and
      matching   contributions   attributable  to  automatic   salary  reduction
      contributions  shall be treated as matching  contributions for purposes of
      all  other  Plan  provisions.  This  Section  shall  be  administered  and
      construed so as to comply with the safe harbor  provisions  applicable  to
      QACA and EACA  contribution  arrangements  under  the  applicable  Pension
      Protection Act of 2006 amendments to ERISA and the Code.

            4.    A new  paragraph  shall be added to the end of  Section  4.04,
effective as of December 24, 2007, to read as follows:

            "The Plan  Administrator  shall  designate a new default  investment
fund  which  shall  satisfy  the  requirements  for being a  "qualified  default
investment  alternative"  ("QDIA") as defined in Section 404(c) (5) of ERISA and
regulations thereunder.  The new default fund shall apply to any Participant for
whom an affirmative  investment  election is not in effect, but shall only apply
with  respect  to  contributions  made on or after  March 1,  2008 and  earnings
attributable  thereto.  At least thirty (30) days advance notice of the new QDIA
fund shall be provided to such  Participants in order to meet the conditions for
the fiduciary  protections of Section 404(c) of ERISA to apply to the Plan's use
of QDIA default  funds.  The prior  default fund shall  continue to be available
thereafter  (i)  as  a  grandfathered  default  investment  option  for  amounts
attributable  to prior  contributions,  and (ii) as an  investment  option  with
respect to subsequent  contributions  only to the extent selected by affirmative
Participant investment direction."

            5.    A new  Section  6.03(d)  is hereby  adopted,  effective  as of
January 1, 2008, to read as follows:

            "(d)  Beneficiary   Rollovers.    Any   beneficiary   who   is   the
Participant's  surviving  spouse may elect a direct  rollover  of any single sum
benefit due to the  Beneficiary  under Section  6.03(b).  Effective on and after
January 1, 2008, a Beneficiary  who is not the  Participant's  surviving  Spouse
also may elect a direct  rollover,  but such  rollover may only be payable to an
individual  retirement  account,  in accordance  with Section  402(c)(11) of the
Code,  not to any other type of eligible  retirement  plan  described in Section
6.05(d) below."

            6.    Section 8.02 is amended,  effective as of January 1, 2007,  by
adding a new subsection (j) thereto, to read as follows:

      "(j)  Self-Corrections. The Plan  Administrator  shall  have discretionary
authority to design and implement minor  self-corrections of certain operational
defects discovered from time to time. Such self-corrections  shall be subject to
the following guidelines:

      (i)   to the extent  that  the self-correction  program under the Employee
            Plan Compliance Resolution System set forth in IRS Revenue Procedure
            2006-22, as amended ("EPCRS"), applies, any self-correction shall be
            consistent with general

                                      - 5 -

<PAGE>

            EPCRS guidelines and correction methods approved thereunder, as well
            as the further provisions of this Section 8.02(j);

      (ii)  self-correction  shall be  non-discriminatory  within the meaning of
            Code Section 401(a) (4);

      (iii) self-correction  shall not be inconsistent  with any other statutory
            or regulatory guidance to the extent such guidance clearly applies;

      (iv)  self-correction  shall  be  complete  as  far  as  practicable,  but
            corrections where the principal amount involved is determined by the
            Plan Administrator to be deminimis,  or where the cost and burden of
            correction  would  exceed the value of the  correction,  need not be
            made;

      (v)   whenever  possible  without   violating   applicable  legal  limits,
            mistaken Company  contributions or related  allocations shall remain
            in the Plan and, to the extent  that not  correcting  such  mistakes
            would increase  benefits without exceeding legal limits then leaving
            the mistake  uncorrected or  recharacterizing  the  contributions as
            additional   discretionary   contributions,   so  as   to   minimize
            adjustments  to  allocations  already  made,  shall be  permissible;
            provided, however, that the Company shall make whole any participant
            who, for any Plan year,  receives less than the proper allocation as
            a result of other participants  receiving an uncorrected  excess, so
            long as such under-allocation exceeds the applicable EPCRS deminimis
            standard and the cost of  processing  and  delivering  the corrected
            contribution  does not exceed the participant's  make-whole  amount;
            and

      (vi)  records of corrections and correction determinations made under this
            Section 8.02(j) shall be maintained by the Plan Administrator for so
            long as deemed necessary."

            7.    Section 12.12(vi)  is  amended  and  restated in its entirety,
effective January 1, 2008, as follows:

                  (vi)    Compensation  payable  for  military  service  and for
            disabled  Participants as described in Treasury  Regulation  Section
            1.415(c)-2(e) (4);"

            8.    Section 12.12, Eligible Earnings, is hereby amended, effective
September 1, 2007,  by rewriting the exclusion in item (viii) of that Section to
read as follows:

                  "(viii) Any  compensation  payable in other than United States
source income (as determined  under Code Section 861 and any  applicable  treaty
between  the  United  States  and a  foreign  country),  except  that  any  such
compensation  payable from an Employer's  domestic  United  States  payroll with
respect to a  Participant's  foreign  service  rendered on or after September 1,
2007 shall be included as Eligible Earnings to the extent it qualifies as a type
of compensation otherwise includable as described above."

                                      - 6 -

<PAGE>

            9.    A new paragraph is added to Section 12.12, Eligible  Earnings,
and effective January 1, 2008, to read as follows:

                  "Notwithstanding   anything  in  the  Plan  to  the  contrary,
            effective  for Plan Years  commencing  on or after  January 1, 2008,
            Eligible  Earnings  shall  include  payments  made  to  an  Employee
            following  his  severance  from  employment  (as  defined in Section
            401(k)(2)(B)(i)(l)  of the Code) only if they constitute regular pay
            that satisfies Treas.  Reg. Section  1.415(c)-2(e)(3)(ii)  or unused
            vacation time that satisfies Treas.  Reg.  Section  1.415(c)-2(e)(3)
            (iii);  and shall not include any amounts that are not  permitted to
            be taken into account under Treas. Regs.  Section  1.401(k)-1(e) (8)
            and Section 1.415(c)-2(e).

            10.   Section 12.13,  Eligible   Employee,   is  hereby  amended  by
rewriting  part (ii)  thereof,  effective as of  September  1, 2007,  to read as
follows:

                  (ii)  An employee who is employed by an Employer at a location
outside the United States and its territories  shall be an Eligible  Employee on
and after September 1, 2007 while on the Employer's  United States payroll,  but
shall not be an Eligible Employee while on a foreign payroll; and"

            11.   Section 12.29,  Testing Earnings, is hereby amended, effective
September 1, 2007,  by adding the following new sentence to the end of the first
paragraph of that Section:

      "Testing  Earnings shall include any portion of Eligible  Earnings payable
      to an Employee from an Employer's domestic U.S. payroll for any periods of
      service on or after  September 1, 2007 regardless of whether such Eligible
      Earnings are reportable as W-2 income."

      IN WITNESS WHEREOF, this Sixth Amendment,  having been first duly adopted,
is hereby  executed  below by a duly  authorized  officer of the Company on this
29th day of November, 2007, to take effect as provided herein.

                                        PLAYBOY ENTERPRISES, INC.

                                        By:      /s/ Robert D. Campbell
                                               ---------------------------------

                                        Title:   SVP, Treasurer
                                               ---------------------------------
                                      - 7 -[LOGO] PLAYBOY ENTERPRISES, INC.                      INTEROFFICE CORRESPONDENCE

DATE:    December 21, 2007
TO:      Alex Vaickus
FROM:    Christie Hefner
SUBJECT: Severance

This will confirm that if you are terminated at any time during the course of
your employment not for cause (as defined below), you will be entitled to
receive 12 months severance pay based on your salary at that time. "For cause"
is defined as conviction of a crime involving dishonesty, fraud or breach of
trust, or engaging in conduct materially injurious to Playboy. In the event of
such termination you will have no duty to mitigate damages, and you will be free
to accept other employment at your discretion.

      /s/ Christie Hefner
      -------------------
      Christie Hefner

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