Larry Flynt -- $10,000 Reward for Capture of Hustler Employee's Killer

A good friend of Larry Flynt's -- and a longtime employee of Hustler -- was killed in a hit-and-run accident Monday morning ... and now, Flynt is offering $10,000 to anyone who can help track down the killer.

A rep for Hustler tells TMZ, the victim -- a man named Larry Hughes -- was crossing the street in L.A. when a white Ford Mustang ran him over ... and then sped away from the scene. Hughes was rushed to a nearby hospital where he later died from his injuries.

The rep tells us, "It is unconscionable that a human being could strike a man down and simply drive away ... We are committed to helping to find the person responsible and seeing that he or she is brought to justice."