Document:

Exhibit 4.35

AMENDMENT
TO WARRANTS

          FriendFinder
Networks Inc., a Nevada corporation (the “Company”), hereby agrees to
the following:

          WHEREAS,
[_________________] (the “Holder”) holds Detachable Warrant #[____] to
purchase from the Company [_____] shares of the Company’s voting common stock,
par value $0.01 per share at an exercise price per share of common stock of
$0.00001 (the “Warrants”);

          WHEREAS,
the Warrants have an Expiration Date (as defined in the Warrants) of the
earlier to occur of (a) a date certain specified in the definition of
Expiration Date for each Warrant and (b) the consummation of a Qualified IPO
(as defined in the Warrants); and

          WHEREAS,
the Company and the Holder have agreed to amend the Expiration Date and make
such other amendments to the Warrants as are set forth herein;

          WHEREAS,
the Warrants contain anti-dilution provisions which create rights greater than
those afforded to holders of common stock of the Company;

          WHEREAS,
the Company and the Holder have agreed to amend certain anti-dilution
provisions so that upon the consummation of a Qualified IPO (as defined in the
Warrants) the Warrants’ rights upon certain dilutive events will more closely
resemble the rights afforded to common stock of the Company;

          NOW,
THEREFORE, for good and valuable consideration, the receipt of which is hereby
acknowledged, the Company and the Holder hereby agree that:

          (a)
All references to “Penthouse Media Group Inc.” in the Warrants are hereby
deleted and replaced with “FriendFinder Networks Inc. (f/k/a Penthouse Media
Group Inc.).”

          (b)
Section 5(b) of each Warrant is hereby amended by deleting from clause (v)
thereof “(or, in the case of a Qualified IPO, at least thirty (30) days before
the filing of a registration statement pertaining to such Qualified IPO)” and
replacing such deleted language with “(or, in the case of a Qualified IPO, at
least fifteen (15) days before effecting such Qualified IPO).”

          (c)
The definition of the term “Expiration Date” in each of the Warrants is hereby
amended such that no Warrant shall expire or terminate upon (or otherwise in
respect of) the consummation of a Qualified IPO (as defined in the Warrants),
and each Warrant shall continue to be exercisable until the date certain
specified in the definition of Expiration Date (i.e., without reference to the
consummation of a Qualified IPO). In all other respects, the Warrants shall
remain in full force and effect.

          (d)
Section 1(a) and 1(o) of each Warrant is hereby amended such that each instance
of the text “Section 4(f)(ii)” is deleted and replaced with “Section
4(f)(iii)”.

          (e)
Section 4(b) of each Warrant is hereby amended such that the text “If, pursuant
to the terms of such merger, consolidation or disposition of assets, any cash,
shares of stock or other securities or property of any nature whatsoever
(including warrants, options or other subscription or purchase rights) are to
be received by or distributed to the holders of Common Stock of the Company in
lieu of or in addition to common stock of the successor or acquiring
corporation, there shall be either, at the Holder’s option:” is deleted in its
entirety and replaced with the following:

          “After
the consummation of a Qualified IPO, if, pursuant to the terms of such merger,
consolidation or disposition of assets, any cash, shares of stock or other
securities or property of any nature whatsoever (including warrants, options or
other subscription or purchase rights) are to be received by or distributed to
the holders of Common Stock of the Company in lieu of or in addition to common
stock of the successor or acquiring corporation, there shall be a distribution
to the Holder of such cash, shares of stock or other securities or property
that the Holder would have been entitled to receive had the Holder owned the
Warrant Shares of record immediately prior to the happening of such event.
Prior to the consummation of a Qualified IPO, if, pursuant to the terms of such
merger, consolidation or disposition of assets, any cash, shares of stock or
other securities or property of any nature whatsoever (including warrants,
options or other subscription or purchase rights) are to be received by or
distributed to the holders of Common Stock of the Company in lieu of or in
addition to common stock of the successor or acquiring corporation, there shall
be either, at the Holder’s option:”

          (f)
Section 4(f) of each Warrant is hereby amended by inserting the following
subsection (i) and renumbering the subsequent subsections accordingly: 

          “(i)
Operation after a Qualified IPO. After a Qualified IPO, the remainder of
this Section 4(f) shall no longer apply.”

          (g)
Section 4(f)(i)(2) of each Warrant is hereby amended such that the text
“Section 4(f)(i)” is deleted and replaced with “Section 4(f)(ii)”.

          This
Amendment to Warrants shall be governed by and construed in accordance with the
laws of the State of New York (without regard to the conflict of laws provisions
thereof).

[signature
page follows]

          IN
WITNESS WHEREOF, the Company has caused this Amendment to Warrants to be signed
in its name by its duly authorized officer.

Dated: October 8, 2009

	
   
  	
   
  	
   
  
	
   
  	
  FRIENDFINDER NETWORKS INC.
  
	
   
  	
   
  	
   
  
	
   
  	
  By:
  	
  /s/ Ezra Shashoua
  
	
   
  	
   
  	   	 
	
   
  	
  Name: Ezra Shashoua
  
	
   
  	
  Title: Chief Financial Officer
  

The undersigned Holder agrees with and consents to the
foregoing Amendment to Warrants, as of October 8, 2009:

	
   
  	
   
  	
   
  
	
  [HOLDER]
  
	
   
  	
   
  
	
  By:
  	
  Beach Point Capital Management LP,
 its
  [_________________]
  
	
   
  	
   
  
	
  By:
  	
  /s/ Carl Goldsmith
  
	
   
  	   	 	
   
  
	
  Name: Carl Goldsmith
  
	
  Title: Managing Partner
  

3Exhibit 10.4

Exhibit 10.4

Execution version

AMENDMENT NO. 2 TO MANAGEMENT AGREEMENT

August 23, 2006

Penthouse Media Group Inc.

6800 Broken Sound Parkway

Boca Raton, FL  33487

Ladies and Gentlemen:

Reference is made to (i) the Management Agreement between Penthouse Media Group Inc. (the “Company”) and Bell & Staton, Inc. (the “Manager”), dated as of October 5, 2004 (as amended by that certain Amendment dated August 17, 2005 (“Amendment No. 1”), the “Management Agreement”); (ii) the Securities Purchase Agreement between the Company, U.S. Bank National Association, as Administrative Agent and Collateral Agent, and certain others, dated as of August 17, 2005 (as amended by the First Amendment and Limited Waiver to Securities Purchase Agreement dated as of the date hereof, and as further amended, supplemented, modified or restated from time to time, the “2005 Securities Purchase Agreement”), and (iii) the Securities Purchase Agreement between the Company, U.S. Bank National Association, as Administrative Agent and Collateral Agent, and certain others, dated the date hereof (as amended, supplemented, modified or restated from time to time, the “2006 Securities Purchase Agreement”).  

This is to set forth our agreement and understanding as follows:

1.

All capitalized terms used herein which are not otherwise defined shall have the respective meanings ascribed to them in the 2006 Securities Purchase Agreement.

2.

So long as any Default or Event of Default has occurred and is continuing, all payments otherwise required to be made to the Manager under the Management Agreement, other than reimbursement of expenses pursuant to Section 4 of the Management Agreement, shall not be paid or accrued and shall be permanently waived.

3.

Subject to paragraph 2 above, except during an Unblocked Period, neither the Company nor any of its Subsidiaries shall pay the Manager any payments other than (a) a Management Fee (as such term is defined in Section 3.01 of the Management Agreement) not to exceed $500,000 per annum, and (b) reimbursement of expenses pursuant to Section 4 of the Management Agreement.  “Unblocked Period” means any calendar quarter during which both of the following conditions have been met: (i) the Company’s Consolidated EBITDA for the twelve-month period ended on the day immediately prior to such calendar quarter was at least $12,500,000 and (ii) no Default or Event of Default has occurred and is continuing.

4.

The Management Agreement may not be further amended prior to payment in full of all Obligations under the 2006 Securities Purchase Agreement without the prior written consent of the Required Holders who are hereby designated third-party beneficiaries of this letter.  Amendment No. 1 shall remain in full force and effect notwithstanding the execution of this letter, and shall survive the repayment of the Obligations under the 2006 Securities Purchase Agreement so long as any Obligations (as defined in the 2005 Securities Purchase Agreement) remain outstanding.

5.

This Amendment No 2. to Management Agreement may be signed in counterparts and by facsimile.

If the foregoing is in accordance with your understanding, kindly so indicate by signing this Amendment No. 2 to Management Agreement in the place provided below.

Very truly yours,

PENTHOUSE MEDIA GROUP INC.

By /s/ Marc H. Bell

Marc H. Bell, President

AGREED:

BELL & STATON, INC.

By /s/ Marc H. Bell

Marc H. Bell, President

[signatures page of Required Holders follows] 

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The undersigned Holders, being Holders whose Pro-Rata Shares (as defined in the 2005 Securities Purchase Agreement) aggregate at least 51% hereby consent to this Amendment No. 2 to Management Agreement.

DB DISTRESSED OPPORTUNITIES MASTER PORTFOLIO, LTD

THE OPPORTUNITY FUND, LLC

STATE OF SOUTH DAKOTA RETIREMENT SYSTEM FUND

SPHINX DISTRESSED (MW POST OPPORTUNITY) SEGREGATED PORTFOLIO

MW POST PORTFOLIO FUND, LTD.

POST DISTRESSED MASTER FUND, L.P.

POST TOTAL RETURN MASTER FUND, L.P.

By: Post Advisory Group, LLC, as Authorized Agent

By: /s/ Carl Goldsmith

Name: Carl Goldsmith

Title: Senior Investment Officer

POST BALANCED FUND, L.P.

POST HIGH YIELD, L.P.

By: Post Advisory Group, LLC, as General Partner

By: /s/ Carl Goldsmith

Name: Carl Goldsmith

Title: Senior Investment Officer

- 3 -

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