Document:

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                                                                   Exhibit 10.27

                        HILB, ROGAL, AND HAMILTON COMPANY
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                              AMENDED AND RESTATED
                            EFFECTIVE JANUARY 1, 2002

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                        HILB, ROGAL, AND HAMILTON COMPANY
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                TABLE OF CONTENTS
                                -----------------
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                                                                                                               PAGE
                                                                                                               ----
                                                      ARTICLE I
                                                       GENERAL

<S>                      <C>                                                                                  <C>
Section 1.1                Effective Date............................................................             1
Section 1.2                Purpose...................................................................             1

                                                     ARTICLE II
                                                DEFINITIONS AND USAGE

Section 2.1                Definitions...............................................................             2
Section 2.2                Usage.....................................................................             6

                                                     ARTICLE III
                                            ELIGIBILITY AND PARTICIPATION

Section 3.1                Eligibility and Participation.............................................             6

                                                     ARTICLE IV
                                                SUPPLEMENTAL BENEFIT

Section 4.1                Entitlement to Benefits...................................................             7
Section 4.2                Supplemental Benefit......................................................             7
Section 4.3                Normal Form of Payment....................................................             8
Section 4.4                Time of Payment...........................................................             9
Section 4.5                Segregation of Assets.....................................................             9
Section 4.6                Forfeiture of Supplemental Benefit........................................             9

                                                      ARTICLE V
                                            DEATH AND DISABILITY BENEFITS

Section 5.1                Death Benefit.............................................................             9
Section 5.2                Disability Benefit........................................................            10

                                                     ARTICLE VI
                                                   ADMINISTRATION

Section 6.1                General...................................................................            10
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<S>                 <C>                                                                                      <C>
Section 6.2                Administrative Rules......................................................            11
Section 6.3                Duties....................................................................            11
Section 6.4                Fees......................................................................            12

                                                     ARTICLE VII
                                                  CLAIMS PROCEDURE

Section 7.1                General...................................................................            12
Section 7.2                Denials...................................................................            12
Section 7.3                Notice....................................................................            12
Section 7.4                Appeals Procedure.........................................................            13
Section 7.5                Review....................................................................            13

                                                    ARTICLE VIII
                                              MISCELLANEOUS PROVISIONS

Section 8.1                Amendment.................................................................            13
Section 8.2                Termination...............................................................            14
Section 8.3                No Assignment.............................................................            14
Section 8.4                Incapacity................................................................            15
Section 8.5                Successors and Assigns....................................................            15
Section 8.6                Governing Law.............................................................            15
Section 8.7                No Guarantee of Employment................................................            15
Section 8.8                Unfunded Plan.............................................................            15
Section 8.9                Severability .............................................................            16
Section 8.10               Notification of Addresses.................................................            16
Section 8.11               Bonding.........................................................................      16
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                                      -ii-
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                        HILB, ROGAL, AND HAMILTON COMPANY
                     SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                    ARTICLE I

                                     GENERAL
                                     -------

         1.1 EFFECTIVE DATE. The provisions of the Plan shall be effective as of
December 16, 1994, and, as amended and restated, effective January 1, 1998. The
rights, if any, of any person whose status as an employee of the Company and its
subsidiaries and affiliates, if any, has terminated shall be determined pursuant
to the Plan as in effect on the date such employee terminated, unless
subsequently adopted provisions of the Plan are made specifically applicable to
such person.

         1.2 PURPOSE. The purpose of the Plan is to provide supplemental
retirement income to a Participant. The Plan is intended to be (and shall be
construed and administered as) an "employee pension benefit plan" under the
provisions of the Employee Retirement Income Security Act of 1974 ("ERISA")
which is unfunded and maintained by the Company solely to provide retirement
income to a select group of management or highly compensated employees as such
group is described under sections 201(2), 301(a)(3), and 401(a)(1) of ERISA as
interpreted by the U.S. Department of Labor. The Plan is not intended to be a
plan described in section 401(a) of the Code or section 3(2)(A) of ERISA.

<PAGE>

                                   ARTICLE II
                              DEFINITIONS AND USAGE

         2.1 DEFINITIONS. Wherever used in the Plan, the following words and
phrases shall have the meanings set forth below unless the context plainly
requires a different meaning:

         -        "BENEFIT COMMENCEMENT DATE" means the January 1 following a
                  Participant's termination of employment with the Company, or
                  such earlier date in the absolute discretion of the Committee.

         -        "BOARD" means the Board of Directors of the Company.

         -        "CHANGE OF CONTROL" means (i) The acquisition by any
                  individual, entity or group (within the meaning of Section
                  13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
                  as amended (the "Exchange Act")) (a "Person") of beneficial
                  ownership (within the meaning of Rule 13d-3 promulgated under
                  the Exchange Act) of 25% or more of either (a) the then
                  outstanding shares of common stock of the Company (the
                  "Outstanding Company Common Stock") or (b) the combined voting
                  power of the then outstanding voting securities of the Company
                  entitled to vote generally in the election of directors (the
                  "Outstanding Company Voting Securities"); provided, however,
                  that for purposes of this subsection (i), the following
                  acquisitions shall not constitute a Change of Control: (w) any
                  acquisition directly from the Company, (x) any acquisition by
                  the Company, (y) any acquisition by any employee benefit plan
                  (or related trust) sponsored or maintained by the Company or
                  any corporation controlled by the Company or (z) any
                  acquisition by any corporation pursuant to a transaction

                                      -2-
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                  which complies with clauses (a), (b) and (c) of subsection
                  (iii) of this Section; or

                           (ii) Individuals who, as of February 2, 1999,
                  constitute the Board "Incumbent Board") cease for any reason
                  to constitute at least a majority of the Board; provided,
                  however, that any individual becoming a director subsequent to
                  February 2, 1999 whose election, or nomination for election by
                  the Company's shareholders, was approved by a vote of at least
                  a majority of the directors then comprising the Incumbent
                  Board shall be considered as though such individual were a
                  member of the Incumbent Board, but excluding, for this
                  purpose, any such individual whose initial assumption of
                  office occurs as a result of an actual or threatened election
                  contest with respect to the election or removal of directors
                  or other actual or threatened solicitation of proxies or
                  consents by or on behalf of a Person other than the Board; or

                           (iii) Consummation of a reorganization, merger or
                  consolidation or sale or other disposition of all or
                  substantially all of the assets of the Company (a "Business
                  Combination"), in each case, unless, following such Business
                  Combination, (a) all or substantially all of the individuals
                  and entities who were the beneficial owners, respectively, of
                  the Outstanding Company Common Stock and Outstanding Company
                  Voting Securities immediately prior to such Business
                  Combination beneficially own, directly or indirectly, more
                  than 50% of, respectively, the then outstanding shares of
                  common stock and the combined voting power of the then
                  outstanding voting securities entitled to vote generally in
                  the election of directors, as the case may be, of the
                  corporation resulting from such

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                  Business Combination (including, without limitation a
                  corporation which as a result of such transaction owns the
                  Company or all or substantially all of the Company's assets
                  either directly or through one or more subsidiaries) in
                  substantially the same proportions as their ownership,
                  immediately prior to such Business Combination of the
                  Outstanding Company Common Stock and Outstanding Company
                  Voting Securities, as the case may be, (b) no Person
                  (excluding any corporation resulting from such Business
                  Combination or any employee benefit plan (or related trust) of
                  the Company or such corporation resulting from such Business
                  Combination) beneficially owns, directly or indirectly, 25% or
                  more of, respectively, the then outstanding shares of common
                  stock of the corporation resulting from such Business
                  Combination or the combined voting power of the then
                  outstanding voting securities of such corporation except to
                  the extent that such ownership existed prior to the Business
                  Combination and (c) at least a majority of the members of the
                  board of directors of the corporation resulting from such
                  Business Combination were members of the Incumbent Board at
                  the time of the execution of the initial agreement, or of the
                  action of the Board, providing for such Business Combination;
                  or

                           (iv) Approval by the shareholders of the Company of a
                  complete liquidation or dissolution of the Company.

                           Notwithstanding the foregoing, for purposes of
                  subsection (i) of this Section, a Change of Control shall not
                  be deemed to have taken place if, as a result of an
                  acquisition by the Company which reduces the Outstanding
                  Company

                                      -4-
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                  Common Stock or the Outstanding Company Voting Securities, the
                  beneficial ownership of a Person increases to 25% or more of
                  the Outstanding Company Common Stock or the Outstanding
                  Company Voting Securities; provided, however, that if a Person
                  shall become the beneficial owner of 25% or more of the
                  Outstanding Company Common Stock or the Outstanding Company
                  Voting Securities by reason of share purchases by the Company
                  and, after such share purchases by the Company, such Person
                  becomes the beneficial owner of any additional shares of the
                  Outstanding Company Common Stock or the Outstanding Company
                  Voting Stock through any means except an acquisition directly
                  from the Company, for purposes of subsection (a) of this
                  Section, a Change of Control shall be deemed to have taken
                  place.

         -        "CODE" means the Internal Revenue Code of 1986, as amended
                  from time to time.

         -        "COMMITTEE" means the Compensation Committee of the Board, if
                  any, and otherwise, the Board.

         -        "COMPANY" means Hilb, Rogal, and Hamilton Company and any
                  successor thereto.

         -        "COMPENSATION" means total base compensation, excluding
                  bonuses and other forms of compensation, paid to a Participant
                  for personal services rendered to the Company without regard
                  to any Compensation Limitation.

         -        "COMPENSATION LIMITATION" means $150,000 as adjusted to
                  reflect cost-of-living increases by the Secretary of the
                  Treasury or his delegate from time to time

                                      -5-
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                  under section 401(a)(17) of the Code.

         -        "ELIGIBLE EMPLOYEE" means an employee of the Company whose
                  Compensation exceeds $150,000 as adjusted from time to time
                  under section 401(a)(17) of the Code.

         -        "ERISA" means the Employee Retirement Income Security Act of
                  1974, as amended from time to time.

         -        "GRANDFATHERED PARTICIPANT" means a Participant who is
                  designated by the Committee as a "grandfathered participant."

         -        "PARTICIPANT" means an Eligible Employee who is participating
                  in the Plan in accordance with Section 3.1 hereof and shall
                  include a Grandfathered Participant, unless otherwise
                  specified.

         -        "PLAN" means the Hilb, Rogal, and Hamilton Company
                  Supplemental Executive Retirement Plan.

         -        "PLAN YEAR" means the calendar year.

         -        "PRE-1998 ACCRUED BENEFIT" means the value of the benefit for
                  each Participant in the Plan who was not in pay status
                  (receiving benefits) as of December 31, 1997 determined in
                  accordance with the terms of the Plan determined in accordance
                  with the terms of the Plan then in effect as though the
                  Participant had terminated employment as of that date.

         -        "RETIREMENT PLAN" means the Hilb, Rogal and Hamilton Company
                  Profit Sharing Savings Plan.

         -        "SEPARATION FROM SERVICE" means a Participant's termination
                  from employment

                                      -6-
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                  as described in the Retirement Plan.

         -        "SUPPLEMENTAL BENEFIT" means the benefit provided in
                  accordance with Section 4.2 of the Plan.

         -        "YEARS OF SERVICE", for purposes of benefit accrual and
                  vesting, means a Participant's full years of employment with
                  the Company. Years of employment with Insurance Management
                  Corporation shall be credited as Years of Service for purposes
                  of vesting and benefit accrual.

         2.2 USAGE. Except where otherwise indicated by the context, any
masculine terminology used herein shall also include the feminine and vice
versa, and the definition of any term herein in the singular shall also include
the plural and vice versa.

                                   ARTICLE III
                          ELIGIBILITY AND PARTICIPATION
                          -----------------------------

         3.1 ELIGIBILITY AND PARTICIPATION. The Committee shall designate from
time to time Eligible Employees of the Company who shall participate in the
Plan; PROVIDED, HOWEVER, that such Eligible Employees shall be members of a
select group of management or highly compensated employees as such group is
described under sections 201(2), 301(a)(3), and 401(a)(1) of ERISA. The Eligible
Employees of the Company so designated by the Committee shall become
Participants in the Plan.

                                      -7-
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                                   ARTICLE IV
                              SUPPLEMENTAL BENEFIT
                              --------------------

         4.1 ENTITLEMENT TO BENEFITS. Each Participant shall be entitled to the
vested portion of his Supplemental Benefit provided in Section 4.2 of the Plan
upon reaching his Benefit Commencement Date. A Participant who terminates
employment (for any reason other than disability or death) shall have a vested
interest in his Supplemental Benefit, based upon the following vesting schedule:

         YEARS OF SERVICE                   VESTING PERCENTAGE
         ----------------                   ------------------
               0-4                                0%
                 5                                33.33%
               6-15                               6.66% per year

         Notwithstanding the foregoing, a Participant shall be fully vested upon
a Change of Control.

         4.2 SUPPLEMENTAL BENEFIT. A Participant's Supplemental Benefit shall be
equal to his account balance under the Plan.

                  (a) DEEMED CONTRIBUTIONS TO ACCOUNT. Annually the account of a
Participant shall be credited (deemed to have been contributed) with an amount
that is calculated by determining the total employer match and profit sharing
contribution (as a percentage of compensation) that the Participant would have
received under the Retirement Plan but without the Compensation Limitation that
applies to such Retirement Plan, reduced by the amount of employer match and
profit sharing contribution actually contributed to the Retirement Plan by the
Company.

                                      -8-
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                  (b) ACCOUNT ADJUSTMENTS. A deemed contribution to the
Participant's account shall be treated as having been invested in one or more
deemed investments designated by the Committee from time to time. The value of a
Participant's account shall be adjusted at least annually to reflect increase or
decrease in the value of such deemed investments. In the absence of any
designation of one or more deemed investments, the Participant's account shall
be credited with interest at an annual rate specified from time to time by the
Committee.

         (c) EXCEPTION FOR GRANDFATHERED PARTICIPANTS. Participants in the Plan
as of December 31, 1997 shall be regarded as Grandfathered Participants.
Effective January 1, 1998, their accounts shall be administered as set forth
above except as follows:

                           (1)      A Grandfathered Participant's Pre-1998
                                    Accrued Benefit shall be determined and
                                    shall be the beginning amount in the
                                    Participant's account as of January 1, 1998.

                           (2)      Annually, the account of a Grandfathered
                                    Participant shall be credited with the
                                    greater of 2% of Compensation or the amount
                                    determined in Paragraph (a) above.

         4.3 NORMAL FORM OF PAYMENT. The normal form of payment of the
Participant's Supplemental Benefit shall be five annual installments with
interest as determined by the Committee from time to time. Effective as of June
7, 1999, if, at the Participant's Benefit Commencement Date, the Participant's
account balance is $20,000 or less, then the Participant's Supplemental Benefit
shall be paid in one lump sum distribution.

         4.4      TIME OF PAYMENT.

                  (a) GENERAL TIME OF PAYMENT. The actual payment of the
Supplemental

                                      -9-
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Benefit shall commence on the Participant's Benefit Commencement
Date.

                  (b) ACCELERATED PAYMENT OF BENEFITS: Notwithstanding anything
herein to the contrary, in the sole discretion of the Committee, payment of
benefits under Article IV or V of the Plan may be accelerated.

         4.5 SEGREGATION OF ASSETS. The Company may, but shall not be obligated,
to segregate assets in trust or otherwise for the purpose of paying obligations
under this plan. Further, the Company has no obligation to match with actual
investment any deemed contribution or deemed investment.

         4.6 FORFEITURE OF SUPPLEMENTAL BENEFIT. Notwithstanding anything in
Article IV to the contrary, a Participant shall forfeit the right to or interest
in his Supplemental Benefit as follows:

         After a Participant has begun receiving payment of his Supplemental
Benefit, he shall forfeit all right to or interest in any future payments if he
enters into employment with a competitor of the Company without the consent of
the Company.

                                    ARTICLE V
                          DEATH AND DISABILITY BENEFITS
                          -----------------------------

         5.1 DEATH BENEFIT. If a Participant dies while employed by the Company
before his Benefit Commencement Date, the surviving spouse of the Participant
shall be entitled to a death benefit equal to the Participant's Supplemental
Benefit determined as of the Participant's date of death. A deceased Participant
shall be fully vested in his Supplemental Benefit as of his date of death. If a
Participant dies after retirement and after he has begun to receive his benefits
under the Plan, the death benefit shall be equal to the principal of any of the
Participant's remaining

                                      -10-
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payments.

             The death benefit shall be paid to his designated beneficiary, if
any, in a lump sum within sixty (60) days of the Participant's date of death or
as soon thereafter as is practicable. If no beneficiary is designated, the death
benefit shall be paid to his estate.

         5.2 DISABILITY BENEFIT. If a Participant becomes disabled, as defined
in the Retirement Plan, he shall become fully vested in his Supplemental Benefit
determined as of the date of his separation from service as a result of
disability.

                                   ARTICLE VI
                                 ADMINISTRATION
                                 --------------

         6.1 GENERAL. The Administrator shall be the Committee, or such other
person or persons as designated by the Committee. Except as otherwise
specifically provided in the Plan, the Administrator shall be responsible for
administration of the Plan. The Administrator shall be the "named fiduciary"
within the meaning of Section 402(c)(2) of ERISA.

         6.2 ADMINISTRATIVE RULES. The Administrator may adopt such rules of
procedure as it deems desirable for the conduct of its affairs, except to the
extent that such rules conflict with the provisions of the Plan.

         6.3 DUTIES. The Administrator shall have the following rights, powers
and duties:

             (a) The decision of the Administrator in matters within its
jurisdiction shall be final, binding and conclusive upon the Company and upon
any other person affected by such decision, subject to the claims procedure
hereinafter set forth.

             (b) The Administrator shall have the duty and authority to
interpret and

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construe the provisions of the Plan, to decide any question that may arise
regarding the rights of employees, Participants and beneficiaries, and the
amounts of their respective interests, to adopt such rules and to exercise such
powers as the Administrator may deem necessary for the administration of the
Plan, and to exercise any other rights, powers or privileges granted to the
Administrator by the terms of the Plan.

             (c) The Administrator shall maintain full and complete records of
its decisions. Its records shall contain all relevant data pertaining to the
Participant and his rights and duties under the Plan. The Administrator shall
have the duty to maintain account records of all Participants.

             (d) The Administrator shall cause the principal provisions of the
Plan to be communicated to the Participants, and a copy of the Plan and other
documents to be available at the principal office of the Company for inspection
by the Participants at reasonable times determined by the Administrator.

             (e) The Administrator shall periodically report to the Committee
with respect to the status of the Plan.

         6.4 FEES. No fee or compensation shall be paid to any person for
services as the Administrator.

                                   ARTICLE VII
                                CLAIMS PROCEDURE
                                ----------------

         7.1 GENERAL. Any claim for benefits under the Plan shall be filed by
the Participant or surviving spouse ("claimant") on the form prescribed for such
purpose with the Administrator.

         7.2 DENIALS. If a claim for benefits under the Plan is wholly or
partially denied, notice

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of the decision shall be furnished to the claimant by the Administrator within a
reasonable period of time after receipt of the claim by the Administrator.

         7.3 NOTICE. Any claimant who is denied a claim for benefits shall be
furnished written notice setting forth:

             (a) the specific reason or reasons for the denial;

             (b) specific reference to the pertinent provision of the Plan upon
which the denial is based;

             (c) a description of any additional material or information
necessary for the claimant to perfect the claim; and

             (d) an explanation of the claim review procedure under the Plan.

         7.4 APPEALS PROCEDURE. In order that a claimant may appeal a denial of
a claim, the claimant or the claimant's duly authorized representative may:

             (a) request a review by written application to the Administrator,
or its designate, no later than sixty (60) days after receipt by the claimant of
written notification of denial of a claim;

             (b) review pertinent documents; and

             (c) submit issues and comments in writing.

         7.5 REVIEW. A decision on review of a denied claim shall be made not
later than sixty (60) days after receipt of a request for review, unless special
circumstances require an extension of time for processing, in which case a
decision shall be rendered within a reasonable period of time, but not later
than one hundred and twenty (120) days after receipt of a request for review.
The decision on review shall be in writing and shall include the specific
reason(s) for the

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decision and the specific reference(s) to the pertinent provisions of the Plan
on which the decision is based.

                                  ARTICLE VIII
                            MISCELLANEOUS PROVISIONS
                            ------------------------

         8.1 AMENDMENT. The Company reserves the right to amend the Plan in any
manner that it deems advisable by a resolution of the Board, or its authorized
delegate, which shall be communicated to Participants not later than sixty (60)
days following the effective date of such amendment. No amendment shall, without
the Participant's consent, affect the amount of the Participant's Supplemental
Benefit at the time the amendment becomes effective or the right of the
Participant to receive a Retirement Benefit after the Participant has met the
entitlement requirements provided in Section 4.1 of the Plan.

         8.2 TERMINATION. The Company reserves the right to terminate the Plan
at any time by resolution of the Board, which shall be communicated to
Participant not later than sixty (60) days following the effective date of such
amendment. No termination shall, without the consent of the Participant, affect
the amount of the Participant's Supplemental Benefit prior to the termination of
the right of the Participant to receive a Supplemental Benefit after the
Participant has met the entitlement requirements provided in Section 4.1 of the
Plan.

         8.3 NO ASSIGNMENT. The Participant shall not have the power to pledge,
transfer, assign, anticipate, mortgage or otherwise encumber or dispose of in
advance any interest in amounts payable hereunder or any of the payments
provided for herein, no shall any interest in amounts payable hereunder or in
any payments be subject to seizure for payment of any debts,

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judgments, alimony or separate maintenance, or be reached or transferred by
operation of law in the event of bankruptcy, insolvency or otherwise.

         8.4 INCAPACITY. If the Administrator determines that any person to whom
such benefit is payable is incompetent by reason of physical or mental
disability, the Administrator may cause the payments becoming due to such person
to be made to another for his benefit. Payments made pursuant to this Section
shall, as to such payment, operate as a complete discharge of the Plan, each
Company, the Committee and the Administrator.

         8.5 SUCCESSORS AND ASSIGNS. The provisions of the Plan are binding upon
and inure to the benefit of each Company, its respective successors and assigns,
and the Participant and his beneficiaries, heirs, legal representatives, and
assigns.

         8.6 GOVERNING LAW. The Plan shall be subject to and construed in
accordance with the laws of the Commonwealth of Virginia to the extent not
preempted by the provisions of ERISA.

         8.7 NO GUARANTEE OF EMPLOYMENT. Nothing contained in the Plan shall be
construed as a contract of employment or deemed to give any Participant the
right to be retained in the employ of the Company or to give any Participant any
equity or other interest in the assets, business, or affairs of the Company. No
Participant hereunder shall have a security interest in assets of any Company
used to make contributions or pay benefits.

         8.8 UNFUNDED PLAN. The obligation of the Company to make payments under
this Plan constitutes nothing more than an unsecured promise of the Company to
make such payments, and any property of the Company that may be set aside in a
trust or otherwise for the payment of benefits under this Plan shall, in the
event of the Company's bankruptcy or

                                      -15-
<PAGE>

insolvency, remain subject to the claims of the Company's general creditors
until such benefits are distributed in accordance with Article IV hereof.

         8.9 SEVERABILITY. If any provision of the Plan shall be held illegal or
invalid for any reason, such illegality or invalidity shall not affect the
remaining provisions of the Plan, but the Plan shall be construed and enforced
as if such illegal or invalid provision had never been included herein.

         8.10 NOTIFICATION OF ADDRESSES. Each Participant shall file with the
Administrator, from time to time, in writing, the post office address of the
Participant, the post office address of each Beneficiary, and each change of
post office address. Any communication, statement or notice addressed to the
last post office address filed with the Administrator (or if no such address was
filed with the Administrator, then to the last post office address of the
Participant or beneficiary as shown on the Company's records) shall be binding
on the Participant and each beneficiary for all purposes of the Plan and neither
the Administrator nor any Company shall be obliged to search for or ascertain
the whereabouts of any Participant or beneficiary.

         8.11 BONDING. The Administrator and all agents and advisors employed by
it shall not be required to be bonded, except as otherwise required by ERISA.

                                      -16-
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Plan to be executed by
its duly authorized officer.

                                         HILB, ROGAL & HAMILTON COMPANY

                                         By     /s/ Walter Smith
                                            -------------------------

                                      -17-<PAGE>

                                                                  Exhibit 10.11

                              EMPLOYMENT AGREEMENT

         This Agreement is entered into this 18th day of March, 2002 by and
between MYMETICS CORPORATION, a Delaware corporation (hereinafter referred to as
the "Company"), and Dr. Peter P. McCann (hereinafter referred to as "Executive")
under the following terms and conditions:

                                    RECITALS:

         WHEREAS, the Company and Executive desire to set forth the terms and
conditions on which (i) the Company shall employ Executive, (ii) Executive shall
render services to the Company, and (iii) the Company shall compensate Executive
for such services; and

         WHEREAS, in connection with the employment of Executive by the Company,
the Company desires to restrict Executive's rights to compete with the business
of the Company;

         NOW, THEREFORE, in consideration of the mutual promises, covenants and
agreements hereinafter set forth and intending to be legally bound hereby, the
parties hereto agree as follows:

                                    AGREEMENT
         1.       EMPLOYMENT.

         The Company hereby employs Executive and Executive hereby accepts
employment with the Company upon the terms and conditions hereinafter set forth.

         2.       TERM.

                  2.1 The initial term of this Agreement (the "Initial Term")
shall be for a one (1) year period commencing on the Effective Date (as defined
in Subsection 2.3 below) of this Agreement, subject, however, to termination as
provided herein in Sections 6 and 7 below.

                  2.2 Each year, prior to the anniversary date, the Company and
Executive shall meet to determine any additional compensation, if any, for the
remaining contract term.

                  2.3 The effective date of this Agreement shall be February
11, 2002 (the "Effective Date").

         3.       COMPENSATION.

                  3.1 For all services rendered by Executive under this
Agreement, the Company shall pay or cause one or more of its subsidiaries to pay
Executive during the term hereof a salary at the rate of One Hundred Seventy
Thousand Dollars ($170,000) per year. The Company shall pay such compensation to
Executive monthly in accordance with its standard practice for payment of
compensation to its employees.

                  3.2 Executive shall be entitled to periodic cash bonuses in
addition to stock bonuses in accordance with the Company's stock option and
incentive plans now in effect or hereafter adopted, any other incentive bonus
plans or other forms of compensation, at the discretion of the Company's Board
of Directors, dependent upon Employee's performance.

                  3.3 Executive shall be entitled to normal benefits for all
Company employees, plus additional benefits which may be added as the benefits
plan is developed.

                  3.4 All compensation shall be subject to customary withholding
tax and other employment taxes as are required with respect to compensation paid
by a corporation to an employee.

         4.       DUTIES AND RESPONSIBILITIES.

                  4.1 Executive shall, during the Term of this Agreement unless
otherwise agreed by management, devote his full attention and expend his best
efforts, energies,

<PAGE>

and skills on a full-time basis, to the business of the Company and any
corporation controlled by the Company (each, a "Subsidiary"). The Company
acknowledges that Executive may from time to time be engaged in other business
activities separate from and outside the scope of the business of the Company.
The Company agrees that the devotion of reasonable amounts of time to such other
business activities will not violate the terms of this Agreement on the
conditions that (i) such activities are not corporate opportunities of the
Company; and (ii) such activities do not interfere with the performance of
Executive's duties hereunder. For purposes of this Agreement, the term the
"Company" shall mean the Company and all Subsidiaries.

                  4.2 During the Term of this Agreement, Executive shall serve
as the President and Chief Executive Officer of the Company or in such other
capacities as determined by the Board of Directors except as provided for under
Subsection 7.1. In the performance of all of his responsibilities hereunder,
Executive shall be subject to all of the Company's policies, rules, and
regulations applicable to its executive of comparable status and shall report
directly to, and shall be subject to, the direction and control of the Board of
Directors of the Company and shall perform such duties as shall be assigned to
him by the Board of Directors. In performing such duties, Executive will be
subject to and abide by, and will use his best efforts to cause other employees
of the Company to be subject to and abide by, all policies and procedures
developed by the Board of Directors.

                  4.3 To induce the Company to enter into this Agreement,
Executive represents and warrants to the Company that (i) Executive is not a
party or subject to any employment agreement or arrangement with other person,
firm, company, corporation or other business entity, (ii) Executive is subject
to no restraint, limitation or restriction by virtue of any law or rule of law
or otherwise which would impair Executive's right or ability (a) to enter the
employ of the Company, or (b) to perform fully his duties and obligations
pursuant to this Agreement.

         5.       RESTRICTIVE COVENANTS.

                  5.1 Executive acknowledges that (i) he has a major
responsibility for the operation, administration, development and growth of the
Company's business, (ii) the Company's business has become international in
scope, (iii) his work for the Company has brought him and will continue to bring
him into close contact with confidential information of the Company and its
customers, and (iv) the agreements and covenants contained in this Subsection
5.1 are essential to protect the business interests of the Company and that the
Company will not enter into this Agreement but for such agreements and
covenants. Accordingly, Executive covenants and agrees as follows:

                           5.1.1    Except as  otherwise  provided for in this
Agreement, during the Term of this Agreement and for a period of two years
thereafter Executive shall not, directly or indirectly, compete with respect to
any services or products of the Company which are either offered or are being
developed by the Company as of the date of termination; or, without limiting the
generality of the foregoing, by or become, or agree to be or become, interested
in or associated with, in any capacity (whether as a partner, shareholder,
owner, officer, director, Executive, principal, agent, creditor, trustee,
consultant, co-venturer or otherwise) any individual, corporation, firm,
association, partnership, joint venture or other business entity, which competes
with respect to any services or products of the Company which are either offered
or are being developed by the Company as of the date of termination; provided,
however, that Executive may own, solely as an investment, not more than one
percent (1%) of any class of securities of any publicly held corporation in
competition with the Company whose securities are traded on any securities
exchange.

                           5.1.2    During the Term of this  Agreement  and,
for a period of two years thereafter (the "Termination Period"), Executive shall
not, directly or indirectly, (i) induce or attempt to influence any employee of
the Company to leave its employ, (ii) aid or agree to aid any competitor,
customer or supplier of the Company in any attempt to hire any person who shall
have been employed by the Company within the one (1) year period preceding such
requested aid, (iii) induce or attempt to influence any person or business
entity who was a customer or supplier of the Company during any portion of said
period to transact business with a competitor of the Company in Company's
business, or (iv) induce or attempt to influence any of the research partners
and contract researchers of the Company, which had a contractual relationship
with the Company during the term of

<PAGE>

this Agreement, to terminate or otherwise adversely affect their relationship
with the Company or any affiliate of the Company.

                           5.1.3    During  the  Term  of this  Agreement,  the
Termination Period and any time thereafter, Executive shall not disclose to
anyone any information about the confidential or proprietary affairs of the
Company, including, without limitation, trade secrets, trade "know-how",
inventions, customer lists, business plans, operational methods, pricing
policies, marketing plans, sales plans, identity of suppliers or customers,
sales, profits or other financial information, which is confidential to the
Company or is not generally known in the relevant trade, nor shall Executive
make use of any such information for his own benefit.

                  5.2 If Executive breaches Subsection 5.1 (the "Restrictive
Covenants"), the Company shall have the following rights and remedies, each of
which shall be enforceable, and each of which is in addition to, and not in lieu
of, any other rights and remedies available to the Company at law or in equity.

                           5.2.1    Executive  acknowledges  and  agrees  that
in the event of a violation or threatened violation of any of the provisions of
Subsection 5.1.1, the Company shall have no adequate remedy at law and shall
therefore be entitled to enforce each such provision by temporary or permanent
injunctive or mandatory relief obtained in any court of competent jurisdiction
without the necessity or proving damages, posting any bond or other security,
and without prejudice to any other rights and remedies which may be available at
law or in equity.

                  5.3 If any of the Restrictive Covenants, or any part thereof,
is held to be invalid or unenforceable, the same shall not affect the remainder
of the covenant or covenants, which shall be given full effect, without regard
to the invalid or unenforceable portions. Without limiting the generality of the
foregoing, if any of the Restrictive Covenants, or any part thereof, is held to
be unenforceable because of the duration of such provision or the area covered
thereby, the parties hereto agree that the court making such determination shall
have the power to reduce the duration and/or area of such provision and, in its
reduced form, such provision shall then be enforceable.

                  5.4 The parties hereto intend to and hereby confer
jurisdiction to enforce the Restrictive Covenants upon the courts of any
jurisdiction within the geographical scope of such Restrictive Covenants. In the
event that the courts of any one or more of such jurisdictions shall hold such
Restrictive Covenants wholly unenforceable by reason of the breadth of such
scope or otherwise, it is the intention of the parties hereto that such
determination not bar or in any way affect the Company's right of the relief
provided above in the courts of any other jurisdictions within the geographical
scope of such Restrictive Covenants, as to breaches of such covenants in such
other respective jurisdictions, the above covenants as they relate to each
jurisdiction being, for this purpose, severable into diverse and independent
covenants.

         6.       TERMINATION.

                  6.1 Following the Initial Term, this Agreement shall
automatically be renewed for additional one-year terms on the anniversary date
of this Agreement (each a "Renewal Term" and, together with each Initial Term,
the "Term"), unless the Company or the Executive elects to terminate the
Agreement by giving 60 days prior written notice. At any time during the Initial
Term or any Renewal Term, either party may terminate this Agreement, for any
reason or no reason at all, upon 60 days prior written notice to the other
party; provided, that if the Company terminates the Executive during the Initial
Term for reasons other than for "Cause" (defined below), compensation as defined
in Sections 3.1 (base salary) above, shall continue for the remainder of the
Initial Term or six months, whichever is greater. If the Company terminates the
Executive during any Renewal Term for reasons other than for "Cause",
compensation as defined in Sections 3.1 (base salary) above, shall continue for
a period of 24 months from the effective date of such termination.

                  6.2 The Company also may terminate Executive's employment
under this Agreement effective immediately at any time for Cause. "Cause" shall
exist for such termination if Executive (i) is adjudicated guilty of illegal
activities involving moral turpitude by a court of competent jurisdiction, (ii)
commits any act of fraud or intentional misrepresentation that may harm the
Company, (iii) has engaged in serious misconduct, which conduct has, or would,
if generally known, materially adversely affect the good will or reputation of
the Company, (iv) is in material breach under this
<PAGE>

Agreement, or (v) Executive habitually fails to perform the duties and
responsibilities of his employment as set forth in Section 4 of this Agreement
or as may be assigned or delegated to him from time to time by the Company, the
Board, or the Executive Committee of the Board.

                  6.3 If the Company terminates Executive's employment under
this Agreement pursuant to the provisions of Subsections 6.2, Executive shall
not be entitled to receive any severance pay.

                  6.4 If Executive's employment with the Company is terminated
as the result of Executive's purely voluntary resignation for reasons other than
those set forth in Section 7 below, Executive shall not be entitled to
compensation after the effective date of such resignation.

         7.       TERMINATION COMPENSATION.

                  7.1 Compensation as defined in Sections 3.1 (base salary)
above shall continue for a period of one (1) year following the date of
termination in the event the Executive resigns due to a substantial change in
ownership or Board of Directors membership as defined below.

                  7.2 A substantial change in ownership shall mean: (i) the sale
of over 50% of the corporation's assets, or (ii) a change in ownership of over
40% (in a block) of the outstanding stock of the Company or (iii) the
replacement or change of over 75% of the Board of Directors in one fiscal year.

         8.       EXPENSES.

                  8.1 Executive shall be entitled to reimbursement of all
reasonable expenses actually incurred in the course of his employment. Executive
shall submit to the Company a standardized expense report form, provided by the
Company, and shall attach thereto receipts for all expenditures. Expenses shall
include business travel.

                  8.2 The Company shall reimburse Executive within thirty (30)
days after submission by Executive of his expense report in correct and
appropriate form.

         9.       THE COMPANY'S AUTHORITY.

                  Executive agrees to observe and comply with the reasonable
rules and regulations of the Company as adopted by the Company's Board of
Directors, either orally or in writing, respecting performances of his duties
and to carry out and perform orders, directions, and policies stated by the
Board of Directors, to him from time to time, either orally or in writing.

         10.      PAID VACATION; SICK LEAVE; INSURANCE.

                  10.1 Executive shall be entitled to a paid vacation each year
equal to not less than four (4) weeks per year in addition to the paid holidays
on which the Company's offices are closed pursuant to Company policy relating to
paid holidays.

                  10.2 Executive shall be entitled to reasonable periods of paid
sick leave during the Term of the Agreement in accordance with the Company's
policy regarding such sick leave.

                  10.3 The Company shall provide Executive, at the Company's
expense, participation in group medical, accident and health insurance, and life
insurance plans of the Company as may be provided by the Company from time to
time to Company executives of comparable status, subject to, and to the extent
that, Executive is eligible under such benefit plans in accordance with their
respective terms.

         11.      LEGAL DEFENSE; AND INDEMNIFICATION.

<PAGE>

                  The Company acknowledges that the medical/pharmaceutical
industry is a litigious industry whereby many regulatory fines, penalties and
third-party suits are directed at the individuals involved in ownership and
operations. The Company agrees to pay all legal fees, judgments, awards, bonds,
fines, penalties and costs related to the defense and outcome whereby Executive
was acting in his corporate capacity. The Company acknowledges that from time to
time the Executive becomes contingently liable for obligations of the Company.
The Company will make whole the Executive in case such contingent obligations
becomes direct. Also, in the event that Executive leaves the employ of the
Company for any reason, the Company will use its best efforts to remove the
Executive from such liabilities, whether contingent or direct.

         12.      MISCELLANEOUS.

                  12.1 The Company may, from time to time, apply for and take
out, in its own name and at its own expense, life, health, accident, disability
or other insurance upon Executive in any sum or sums that it may deem necessary
to protect its interests, and Executive agrees to aid and cooperate in all
reasonable respects with the Company in procuring any and all such insurance,
including without limitation, submitting to the usual and customary medical
examinations, and by filling out, executing and delivering such applications and
other instruments in writing as may be reasonably required by an insurance
company or companies to which an application or applications for such insurance
may be made by or for the Company.

                  12.2 This Agreement is a personal contract, and the rights and
interests of Executive hereunder may not be sold, transferred, assigned, pledged
or hypothecated except as otherwise expressly permitted by the provisions of
this Agreement. Executive shall not under any circumstances have any option or
right to require payment hereunder otherwise than in accordance with the terms
hereof. Except as otherwise expressly provided herein, Executive shall not have
any power of anticipation, alienation or assignment of payments contemplated
hereunder, and all rights and benefits of Executive shall be for the sole
personal benefit of Executive, and no other person shall acquire any right,
title or interest hereunder by reason of any sale, assignment, transfer, claim
or judgment or bankruptcy proceedings against Executive; provided, however, that
in the event of Executive's death, Executive's estate, legal representative or
beneficiaries (as the case may be) shall have the right to receive all of the
benefit that accrued to Executive pursuant to, and in accordance with, the terms
of this Agreement.

                  12.3 The Company shall have the right to assign this Agreement
to any successor of substantially all of its business or assets, and any such
successor and Executive shall be bound by all of the provisions hereof.

         13.      NOTICES.

                  All notices, requests, demands and other communications
provided for by this Agreement shall be in writing and (unless otherwise
specifically provided herein) shall be deemed to have been given three (3) days
after having been mailed in any general or branch United States Post office,
enclosed in a registered or certified postpaid envelope, addressed to the
parties stated below or to such changed address as such party may have fixed by
notice:

               TO THE COMPANY:  Mymetics Corporation
                                At the then current office address
                                for the Secretary or Acting Secretary

                      COPY TO:  James D. Chiafullo, Esq.
                                Cohen & Grigsby, P.C.
                                11 Stanwix Street, 15th Floor
                                Pittsburgh, PA 15222

                    EXECUTIVE:  Dr. Peter P. McCann
                                1669 Chinford Trail
                                Annapolis, MD  21401

<PAGE>

         14.      ENTIRE AGREEMENT.

                  This Agreement supersedes any and all Agreements, whether oral
or written, between the parties hereto, with respect to the employment of
Executive by the Company and contains all of the covenants and Agreements
between the parties with respect to the rendering of such services in any manner
whatsoever. Each party to this Agreement acknowledges that no representations,
inducements, promises or agreements, orally or otherwise, have been made by any
party, or anyone acting on behalf of any party, which are not embodied herein,
and that no other agreement, statement or promise with respect to such
employment not contained in this Agreement shall be valid or binding. Any
modification of this Agreement will be effective only if it is writing and
signed by the parties hereto.

         15.      PARTIAL INVALIDITY.

                  If any provision in this Agreement is held by a court of
competent jurisdiction to be invalid, void, or unenforceable, the remaining
provisions shall nevertheless continue in full force and effect without being
impaired or invalidated in any way.

         16.      ATTORNEYS FEES.

                  Except with respect to paragraphs 5.3 and 5.4 which issues are
reserved for the court, any dispute regarding the negotiations leading up to the
execution of this Release and/or the interpretation or application of this
Agreement or the alleged breach hereof, or any act which allegedly has, or
would, violate any provision of this Agreement must be submitted to arbitration
before a neutral arbitrator. The arbitration shall be conducted in accordance
with the rules of American Arbitration Association. A written demand for
arbitration pursuant to Section 638 of the Code of Civil Procedure must be made
within sixty (60) days of the alleged breach. The results of arbitration will be
the exclusive, final and binding remedy for such claim or dispute.

         17.      GOVERNING LAW.

                  This Agreement will be governed by and construed in accordance
with the laws of the State of Delaware.

         18.      BINDING NATURE.

                  This Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective representatives, heirs, successors
and assigns.

         19.      WAIVER.

                  No waiver of any of the provisions of this Agreement shall be
deemed, or shall constitute a waiver of any other provision, whether or not
similar, nor shall any waiver constitute a continuing waiver. No waiver shall be
binding unless executed in writing by the party making the waiver.

         20.      CORPORATE APPROVALS.

                  The Company represents and warrants that the execution of this
Agreement by its corporate officer named below has been duly authorized by the
Board of Directors of the Company, is not in conflict with any Bylaw or other
agreement and will be a binding obligation of the Company, enforceable in
accordance with its terms.

                  IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date above written.

                           MYMETICS CORPORATION

                           By:/s/ John M. Musacchio
                              ------------------------------------
                              John M. Musacchio, Member of Board of Directors

                           EXECUTIVE:

                           /s/ Dr. Peter P. McCann
                               -----------------------------------
                               Dr. Peter P. McCann

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