Document:

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                                                                   EXHIBIT 10.28

                        STOCK PURCHASE AND LOAN AGREEMENT

                                 BY AND BETWEEN

                           THE MIIX GROUP INCORPORATED

                                       AND

                              THOMAS M. REDMAN, JR.

                            DATED: DECEMBER 15, 1999
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                        STOCK PURCHASE AND LOAN AGREEMENT

            THIS STOCK PURCHASE AND LOAN AGREEMENT (the "Agreement"), made as of
this 15th day of December, 1999, by and between THE MIIX GROUP, INCORPORATED, a
Delaware corporation (the "Company"), and THOMAS M. REDMAN, JR. (the
"Executive").

                                   BACKGROUND

            WHEREAS, the Company desires to ensure that key members of its
senior management share with its stockholders the common goal of achieving
long-term growth in the market value of the Company which equals or exceeds the
growth of competitive companies in the insurance industry; and

            WHEREAS, to achieve this objective, the Company requires that the
Executive purchase that number of shares of common stock of the Company (the
"Purchased Shares") having an aggregate purchase price of $50,000, rounded to
the nearest whole share, based on the average daily trading price per share of
the common stock on December 15, 1999 (the "Purchase Price"); and

            WHEREAS, the Company intends to make a loan to the Executive in an
amount equal to the Purchase Price, and Executive intends to secure such loan
with a pledge of the Purchased Shares;

            NOW, THEREFORE, in consideration of the mutual promises and
covenants set forth herein and other good and valuable consideration, the
parties hereto agree as follows:

                                      TERMS

      1.    Loan.

            1.1. Loan. Subject to the terms and conditions hereof, the Company
shall lend to the Executive the aggregate principal amount of $50,000 (the
"Loan").

            1.2. Purpose of Loan. The Executive shall use the proceeds of the
Loan solely for the purpose of purchasing the Purchased Shares pursuant to
Section 2 hereof.

            1.3. Promissory Note. The obligation of the Executive to repay the
Loan shall be evidenced by the Executive's promissory note, substantially in the
form attached
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hereto as Exhibit A (the "Note"), in the original principal amount of $50,000.
The Note shall be dated December 15, 1999, the date of the purchase of the
Purchased Shares, shall mature and become due and payable on the Maturity Date
(hereinafter defined) and shall bear interest as set forth in Section 1.4(b).

            1.4. Principal Payments; Maturity; Interest Rate.

                  (1) Principal Payments. Unless sooner accelerated as provided
herein, the principal amount of the Loan shall be due and payable in full on
December 15, 2004, the fifth anniversary date of the Note (the "Maturity Date").
Notwithstanding the collateral pledged to the Company pursuant to Section 3
hereof, Executive shall have personal liability for the full payment of the
Loan, together with accrued interest thereon.

                  (2) Interest Rate and Payment. The principal amount of the
Loan shall bear interest from the date of the Note until the Maturity Date
(unless otherwise accelerated as provided herein) at a rate per annum equal to
the minimum interest rate necessary to avoid income imputation under the
Internal Revenue Code as of the date of the Note. Interest shall be due and
payable on the Maturity Date.

            1.5. Voluntary Prepayments. The Executive shall have the right to
prepay the Loan in whole or in part from time to time, without penalty or
premium.

            1.6. Mandatory Prepayments. In the event that Executive sells any of
the Purchased Shares during the term of the Loan, the Executive shall, within
five (5) days of such sale, make a mandatory prepayment of the Loan in an amount
equal to the product of the number of Purchased Shares sold and the Purchase
Price. In the event that such sale is made on an installment basis, Executive
shall make a mandatory prepayment as and when proceeds of the sale are received
by the Executive.

            1.7. Events of Default. Each of the following shall constitute an
event of default (each, an "Event of Default") under this Agreement:

                  (1) the failure of the Executive to pay when due any principal
or interest or other amount due hereunder or under the Note.

                  (2) any warranty or representation made by the Executive in
this Agreement shall prove to have been false or incorrect on the date as of
which made.

                  (3) the termination of Executive's employment with the Company
for any reason.

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                  (4) the occurrence of any of the following with respect to the
Executive:

                        (1)   he shall apply for or consent to the appointment
                              of a receiver, custodian, trustee or liquidator of
                              all or a substantial part of his property;

                        (2)   he shall make a general assignment for the benefit
                              of his creditors;

                        (3)   he shall commence a voluntary case under the
                              Federal Bankruptcy Code; or

                        (4)   he shall file a petition to take advantage of any
                              other law providing for the relief of debtors.

            1.8. Remedies Upon Default. Upon the occurrence and during the
continuance of an Event of Default, all indebtedness, obligations and
liabilities of the Executive arising hereunder shall, at the option of the
Company, become immediately due and payable. The Company may, in addition to all
other remedies available to it, exercise a right of setoff against the Pledged
Collateral (as defined below).

            1.9. Extension of Payment Date. Notwithstanding anything in Section
1.7(c) hereof to the contrary, in the event that Executive's employment with the
Company is terminated and such termination arises from the death, disability or
retirement of the Executive or is without Cause, then, at the option of the
Executive and upon delivery of written notice to that effect, the obligation to
repay the Loan in full, together with accrued interest thereon, may be extended
to the second anniversary date of such termination or retirement or the Maturity
Date, whichever is earlier. For purposes of this Section, the term "Cause" shall
have the meaning assigned to it in that certain Employment Agreement dated of
even date herewith among the Executive, the Company and New Jersey State Medical
Underwriters, Inc.

      2. Purchase and Sale of Common Stock.

            2.1. Sale and Purchase. The Company shall issue and sell to the
Executive, subject to and in reliance upon the representations, warranties,
terms and conditions of this Agreement, and Executive shall purchase, the
Purchased Shares for the Purchase Price.

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            2.2. Payment of Purchase Price. Upon payment in full of the Purchase
Price, receipt of which shall be deemed acknowledged by the Company on December
15, 1999, the Company shall deliver to Executive a stock certificate, registered
in the name of Executive, representing the Purchased Shares.

            2.3. Lock-up. The Executive agrees that, for a one (1) year period
following the date of the issuance of the Purchased Shares, the Executive shall
not sell, transfer or otherwise dispose of any of the Purchased Shares without
the written consent of the Company.

      3.    Collateral.

            3.1. Pledged Collateral. As security for the performance of this
Agreement and for the prompt and complete payment of the Loan, together with
accrued interest thereon, when due (whether at the Maturity Date, by
acceleration or otherwise), the Executive hereby grants to the Company the
following property (collectively, the "Pledged Collateral"):

                  (1) the Purchased Shares and the certificates or instruments
representing such stock and all dividends, interest, cash, instruments, and
other property from time to time received, receivable, or otherwise distributed
or distributable in respect of or in exchange for any or all of such stock;

                  (2) all proceeds of the foregoing.

            3.2. Delivery of Purchased Shares. Promptly after his receipt of
stock certificates representing the Purchased Shares, the Executive shall
deliver to the Company such stock certificates, together with stock powers duly
executed in blank by the Executive.

            3.3.  Voting Rights, Dividends, Etc.

                  (1) The Executive shall be entitled to exercise any and all of
Executive's voting and other consensual rights pertaining to the Pledged
Collateral or any part thereof for any purpose not inconsistent with the terms
of this Agreement; and notwithstanding Section 3.1 but subject to Section 3.3(c)
shall be entitled to receive and retain free and clear of the security interest
of Company hereunder, any and all of such dividends, interest and other
distributions permitted to all other holders of the Company's Common Stock.

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                  (2) The Company shall execute and deliver (or cause to be
executed and delivered) to the Executive all such proxies and other instruments
as Executive may reasonably request for the purpose of enabling the Executive to
exercise the voting and other rights that he is entitled to exercise pursuant to
paragraph (a) above and to receive the dividends, interest and other
distributions that he is authorized to receive and retain pursuant to paragraph
(a) above.

                  (3) Upon the occurrence and during the continuance of an Event
of Default (i) all rights of the Executive to exercise the voting and other
consensual rights that he would otherwise be entitled to exercise pursuant to
Section 3.3(a) hereof and to receive the dividends, interest and other
distributions that he would otherwise be authorized to receive and retain
pursuant to Section 3.3(a) hereof shall cease, and all such rights shall
thereupon become vested in Company which shall thereupon have the sole right to
exercise such voting and other consensual rights and to receive such dividends,
interest, and other distributions; and all dividends, interest and other
distributions which are received by Executive contrary to the provisions of this
paragraph shall be received in trust for the benefit of Company, shall be
segregated from other funds of Executive, and shall be forthwith paid over to
Company in the same form as so received (with any necessary endorsement).

            3.4. Further Assurances. Executive agrees that at any time and from
time to time, at the expense of Executive, Executive will promptly execute and
deliver all further instruments and documents, and take all further action that
may be necessary, or that Company may reasonably request, in order to perfect
and protect any security interest granted or purported to be granted hereby or
to enable Company to exercise and enforce the rights and remedies hereunder with
respect to any of the Pledged Collateral.

            3.5. Transfers and Liens. Executive will not (i) grant any option
with respect to any of the Pledged Collateral, or (ii) create or permit to exist
any lien, security interest, or other charge or encumbrance upon or with respect
to any of the Pledged Collateral.

            3.6. Company Appointed Attorney-in-Fact. Executive hereby appoints
Company as Executive's attorney-in-fact, with full authority in the place and
stead of Executive and in the name of Executive, from time to time in Company's
discretion to take any action and to execute any instrument which Company may
deem necessary or advisable to accomplish the purposes of this Agreement,
including, without limitation, upon the occurrence and during the continuance of
an Event of Default to receive, endorse, and collect all instruments made
payable to Executive representing any dividend, interest, or other distribution
in respect of the Pledged Collateral or any part thereof and to give full

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discharge for the same. Company shall not, in its capacity as such
attorney-in-fact, be liable for any acts or omissions, nor for any error of
judgment or mistake of fact or law, but only for bad faith, willful misconduct
or gross negligence. This power, being coupled with an interest, is irrevocable
until all obligations under the Note have been fully satisfied.

            3.7. Company's Duties. The powers conferred on the Company hereunder
are solely to protect its interests in the Pledged Collateral and shall not
impose any duty to exercise any such powers. Except for the safe custody of any
Pledged Collateral in its possession and the accounting for moneys actually
received by it hereunder, Company shall not have any duty as to any Pledged
Collateral or as to the taking of any necessary steps to preserve rights against
any parties or any other rights pertaining to any Pledged Collateral. Without
limiting the generality of the foregoing, Company shall not have any
responsibility for ascertaining or taking action with respect to calls,
conversions, exchanges, maturities, tenders, or other matters relating to any
Pledged Collateral, whether or not Company has or is deemed to have knowledge of
such matters.

            3.8. Prepayments. In the event of any prepayment, whether voluntary
or mandatory, the Company shall release from the Pledged Collateral, and deliver
to the Executive, stock certificates evidencing that number of Purchased Shares
which have an aggregate fair market value equal to the amount of the prepayment.
In no event, however, shall the remaining Pledged Collateral have a fair market
value less than the unpaid principal balance of the Loan and accrued interest
thereon.

            3.9. Transfer of Title. After the occurrence and during the
continuance of an Event of Default, Company shall have the right, at any time in
its discretion without further notice to Executive, to transfer to or to
register in the name of Company or its nominees, any or all of the Pledged
Collateral. In addition, upon the occurrence and during the continuance of an
Event of Default, Company shall have the right at any time to exchange
certificates or instruments representing or evidencing Pledged Collateral for
certificates or instruments of smaller or larger denominations.

            3.10. Termination. The provisions of this Section 3 shall terminate
upon payment in full of the Loan, together with accrued interest thereon, at
which time the Company shall promptly deliver to Executive stock certificates
evidencing the Purchased Shares remaining in its possession.

      4. Representations and Warranties of the Company. The Company hereby
represents and warrants to the Executive as follows:

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            4.1. Organization. The Company (a) is a corporation duly
incorporated, validly existing and in good standing under the laws of the State
of Delaware, and (b) has all requisite corporate power and authority to execute,
deliver and perform this Agreement.

            4.2.  Authorization of Agreement.

                  (1) The execution, delivery and performance by the Company of
this Agreement has been duly authorized by all requisite corporate action by the
Company, and this Agreement constitutes the valid and binding obligation of the
Company.

                  (2) The issuance, sale and delivery of the Purchased Shares
have been duly authorized by all requisite corporate action of the Company, and
when issued, sold and delivered in accordance with this Agreement, the Purchased
Shares will be validly issued and outstanding, fully paid and non-assessable,
and not subject to preemptive or any other similar rights of the stockholders of
the Company or others.

            4.3. SEC Registration Statement. The Company has made available to
the Executive, in the form filed with the SEC and as amended prior to the date
hereof, the Form S-1 Registration Statement (Registration No. 333-59371) (the
"Registration Statement"). The Registration Statement complies as to form in all
material respects with the requirements of the Securities Act of 1933 (the
"Securities Act") and the rules and regulations thereunder, and did not, on the
date when it was declared effective, contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
in order to make the statements made therein in light of the circumstances under
which they were made not misleading.

      5. Representations of the Executive. The Executive represents, warrants
and covenants to the Company that:

                  (1) Executive has the full power and authority and has full
legal right to execute and deliver this Agreement and the Note, to perform,
observe and comply with all of his agreements and obligations under each of this
Agreement and the Note and to obtain the proceeds of the Loan contemplated by
this Agreement;

                  (2) Executive has duly executed and delivered this Agreement
and this Agreement constitutes the valid and binding obligation of Executive,
enforceable in accordance with its terms, except as such enforceability may be
limited by bankruptcy, moratorium or similar laws affecting creditors' rights or
by general principles of equity;

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                  (3) Executive is acquiring the Purchased Shares for his own
account, for investment and not with a view to the distribution thereof within
the meaning of the Securities Act;

                  (4) Executive understands that the Purchased Shares have not
been and shall not be registered under the Securities Act, by reason of their
issuance by the Company in a transaction exempt from the registration
requirements of the Securities Act; and any subsequent disposition thereof must
be registered under the Securities Act or must be exempt from registration;

                  (5) Executive understands that: (i) the exemption from
registration afforded by Rule 144 (the provisions of which are known to him)
promulgated under the Securities Act depends on the satisfaction of various
conditions, and that, if and when applicable, Rule 144 may only afford the basis
for sales in limited amounts; and (ii) the Company is under no obligation to
register the Purchased Shares on behalf of the Executive or to assist the
Executive in complying with any exemption from registration;

                  (6) he is an accredited investor as defined in Rule 501(a)
promulgated under the Securities Act.

      6.    Certain Restrictions.

            6.1.  Legend.  The certificate for the Purchased Shares shall
bear the following legend:

            "THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED
            FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
            OF 1933, AS AMENDED OR ANY APPLICABLE STATE SECURITIES LAW. THESE
            SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH
            REGISTRATION EXCEPT UPON DELIVERY TO THE COMPANY OF AN OPINION OF
            COUNSEL, WHICH OPINION SHALL BE REASONABLY SATISFACTORY TO THE
            COMPANY, STATING THAT AN EXEMPTION FROM THE REGISTRATION
            REQUIREMENTS OF THE 1933 ACT AND APPLICABLE STATE SECURITIES LAWS IS
            AVAILABLE. THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS
            CERTIFICATE IS SUBJECT TO

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            THE CONDITIONS SET FORTH IN THAT CERTAIN STOCK PURCHASE AND LOAN
            AGREEMENT BY AND BETWEEN THE COMPANY AND THOMAS M. REDMAN, JR.

            6.2.  Opinion.  Company agrees to reimburse Executive for the
cost of obtaining any opinion required by the above legend.

      7.    Miscellaneous.

            7.1. Amendments, Indulgences, Etc. No amendment or waiver of any
provision of this Agreement nor consent to any departure by Executive herefrom
shall in any event be effective unless the same shall be in writing and signed
by Company, and then such waiver or consent shall be effective only in the
specific instance and for the specific purpose for which given. No failure or
delay on the part of Company in the exercise of any right, power, or remedy
under this Agreement shall constitute a waiver thereof, or prevent the exercise
thereof in that or any other instance.

            7.2. Addresses for Notices. All notices and other communications
provided for hereunder shall be in writing and, if to Executive, mailed or
telefaxed or delivered to them at the addresses therefor shown at the time in
Company's records, and, if to Company, mailed or delivered to it at Two Princess
Road, Lawrenceville, New Jersey 08648.

            7.3. Continuing Security Interest. This Agreement creates a
continuing security interest in the Pledged Collateral and shall be binding upon
Executive, and his heirs, executors, administrators, successors, and assigns and
inure to the benefit of Company and its successors, transferees and assigns. The
execution and delivery of this Agreement shall in no manner impair or affect any
other security (by endorsement or otherwise) for the payment or performance of
the Note and no security taken hereafter as security for payment or performance
of the Note shall impair in any manner or affect this Agreement or the security
interest granted hereby, all such present and future additional security to be
considered as cumulative security. Any of the Pledged Collateral may be released
from this Agreement without altering, varying, or diminishing in any way this
Agreement or the security interest granted hereby as to the Pledged Collateral
not expressly released, and this Agreement and such security interest shall
continue in full force and effect as to all of the Pledged Collateral not
expressly released.

            7.4. Governing Law, Consent to Jurisdiction, Etc. This Agreement
shall be governed by and construed in accordance with the laws of the State of
New Jersey

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applicable to contracts made and wholly performed within New Jersey. Executive
consents to the jurisdiction of the courts of New Jersey and of the courts of
the United States sitting in New Jersey in any litigation concerning this
Agreement, and Executive waives any objection based on venue or inconvenient
forum. Unless otherwise defined herein, terms defined in the Uniform Commercial
Code as in effect on the date hereof are used herein as therein defined as of
such date.

            7.5. Counterparts. This Agreement may be executed in any number of
counterparts, all of which taken together shall constitute one and the same
instrument, and any of the parties hereto may execute this Agreement by signing
any such counterpart.

            7.6. Severability. The provisions of this Agreement are independent
of and separable from each other, and no such provision, shall be altered or
rendered invalid or unenforceable by virtue of the fact that for any reason any
other such provision may be invalid or unenforceable in whole or in part.

            7.7. Headings. The section headings of this Agreement are for
convenience only, form no part of this Agreement and shall not affect its
interpretation.

            7.8. Entire Agreement. This Agreement sets forth all of the
promises, covenants, agreements, conditions and undertakings between the parties
hereto with respect to the subject matter hereof, and supersedes all prior and
contemporaneous agreements and understandings, inducements or conditions,
express or implied, oral or written.

            IN WITNESS WHEREOF, the undersigned, intending to be legally bound
hereby, have executed this Agreement as of the date first above written.

                                          THE MIIX GROUP, INCORPORATED

                                          By:_______________________________

                                          __________________________________
                                                THOMAS M. REDMAN, JR.

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                                    Exhibit A
PROMISSORY NOTE
                                                     Lawrenceville, New Jersey
$50,000                                                      December 15, 1999

            The Undersigned, for value received and intending to be legally
bound, promises to pay to the order of THE MIIX GROUP, INCORPORATED (the
"Lender"), as and when due as set forth in the Stock Purchase and Loan Agreement
dated the date hereof between the Undersigned and Lender (as such agreement may
be amended, restated, modified or supplemented from time to time, the "Loan
Agreement"), the principal sum of $50,000. Capitalized terms used herein and not
otherwise defined shall have the meanings given such terms in the Loan
Agreement.

            The undersigned further promises to pay to the order of Lender
interest on the unpaid principal amount of the Loan from the date hereof until
such amounts have been repaid in full. Interest shall be at the annual rate of
6.02 percent (6.02%) and shall be due and payable on the Maturity Date (unless
accelerated sooner under the terms of the Loan Agreement).

            This is the Note mentioned in, and is entitled to the benefits of,
the Loan Agreement.

            This Note may be prepaid at any time, in whole or in part, without
premium or penalty. All payments in respect of this Note shall be applied first
to accrued interest and then to principal outstanding hereunder. Mandatory
prepayments shall be required from time to time pursuant to Section 1.6 of the
Loan Agreement.

            This Note shall be deemed to be a contract made under the laws of
the State of New Jersey and shall be construed in accordance with the laws of
said state without giving effect to principles of conflicts of law.

            This Note shall be binding upon the undersigned and his heirs,
executors, administrators, transferees and assigns and the terms hereof shall
inure to the benefit of lender and its successors and assigns, including
subsequent holders hereof.

            The undersigned hereby waives presentment, demand for payment,
notice of dishonor or acceleration, protest and notice of protest, and any and
all other notices or demands in connection with the delivery, acceptance,
performance, default or enforcement of this Note except any notice expressly
required in the Loan Agreement.

            IN WITNESS WHEREOF, the undersigned executes this Note on the day
and year first above written.

                                          ----------------------------------
                                                THOMAS M. REDMAN, JR.<PAGE>   1
                                                                   EXHIBIT 10.30

                        THE MIIX GROUP, INCORPORATED AND
                  NEW JERSEY STATE MEDICAL UNDERWRITERS, INC.

                           DEFERRED COMPENSATION PLAN

The Non-Qualified Deferred Compensation Agreement ("Agreement" or "Plan") is
entered into and effective December 15, 1999 ("Effective Date"), by and between
The MIIX Group, Incorporated, New Jersey State Medical Underwriters, Inc.
("Employer" or "Company") and Kenneth Koreyva (hereinafter sometimes referred to
as "Employee" or "Participant").

WITNESSETH THAT:

In consideration of the agreements hereinafter contained the parties hereto
agree as follows:

1.1.  ESTABLISHMENT OF PLAN. Employer hereby establishes this Deferred
      Compensation Plan which shall become effective as of the date selected by
      Employer. The Plan shall be maintained for the exclusive benefit of
      Employee.

1.2.  NATURE OF PLAN. The Plan is intended to be and at all times shall be
      interpreted and administered so as to qualify as an unfunded plan of
      deferred compensation for purposes of the Internal Revenue Code of 1986,
      as amended, and regulations thereunder, and the Employee Retirement Income
      Security Act of 1974.

1.3.  PURPOSE OF PLAN. The purpose of this Plan is to enable Employee to enhance
      his financial security by permitting him to enter into this agreement with
      Employer to defer his compensation and receive benefits in a future year.

1.4.  APPLICABLE COMPENSATION. Elections to defer compensation shall be made
      with respect to compensation not yet earned. In the case of bonuses or
      other nonperiodic payments, such compensation shall be treated as
      earned no earlier than the day on which the amount payable has been
      determined. In the case of periodic payments such as salary, such
      compensation shall be treated as earned no earlier than the day prior
      to the day on which the service period giving rise to the salary has
      commenced.  In the case of Dividend Equivalents (awarded pursuant to
      The MIIX Group, Incorporated Long Term Incentive Equity Plan) converted
      into cash, such compensation shall be treated as earned no earlier than
      the day prior to the day on which such Dividend Equivalents are
      credited to the account maintained on behalf of the Participant under
      Sections 6.4 and 9.3 of the Equity Plan.
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1.5.  DEFERRAL OF COMPENSATION. Employee shall make an irrevocable election
      to defer compensation to be paid by Employer by the signing of an
      Election to Defer in the form approved by Employer. Deferrals under
      such elections shall be effective on the date the Election to Defer is
      properly completed by Employee and accepted by Employer.  Employer
      shall acknowledge receipt of Employee's deferral election by signing
      the Election to Defer and returning it to Employee within 14 days of
      receipt.

1.6.  EARNINGS. Interest shall be credited monthly by Employer on amounts
      deferred under this Plan at a rate of return equal to the aggregate
      investment portfolio yield for The MIIX Group, Incorporated or, if
      applicable, the return directly associated with any specific investment
      alternatives chosen by Employee and approved by Employer, including,
      but not limited to, any income (loss) and realized and unrealized gains
      (losses).  Employee may change selected investment alternatives on a
      prospective basis only.

1.7.  COMMENCEMENT OF DISTRIBUTIONS. Distribution of benefits to Participant
      under the Plan shall commence no earlier than December 15, 2004,
      provided, however, that distribution shall be accelerated in the event
      Employee separates from service of Employer for any reason prior to
      December 15, 2004.  In such event, Plan benefits shall commence within
      60 days after such separation from service.  Notwithstanding the
      foregoing, if Participant dies prior to the time his benefits under
      this Plan have been distributed in full, any remaining portion of
      benefits yet to be distributed under this Plan shall be distributed as
      soon as administratively practicable to Participant's estate or such
      other beneficiary as designated by Participant on a Beneficiary
      Designation Form.

1.8.  MANNER OF PAYMENT. Distributions shall be made in cash by Employer except
      to the extent that Participant elects to receive payment in the form of
      property that was designated as an investment alternative as provided in
      Section 1.6 of this Agreement. In such case, any cash due shall be reduced
      by the fair market value of such in kind payment at the time of the
      distribution.

1.9.  PLAN ADMINISTRATION. The Company shall be responsible for the
      administration of the Plan, including any associated costs.

1.10. OWNERSHIP OF ASSETS. All amounts of compensation deferred under the Plan,
      all property and rights purchased with such amounts, and all income
      attributable to such amounts, property, or rights shall remain (until made
      available to Participant) solely the property and rights of the Company
      (without being restricted to the

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      provisions of benefits under the Plan) and shall be subject to the claims
      of the Company's general creditors.

1.11. LIMITATION OF RIGHTS / EMPLOYMENT RELATIONSHIP. Neither the establishment
      of this Plan nor any modification thereof, nor the creation of any fund or
      account, nor the payment of any benefits, shall be construed as giving
      Participant or any other person any legal or equitable right against
      Employer except as provided in the Plan.

1.12. LIMITATION OF ASSIGNMENT. Benefits under the Plan may not be assigned,
      sold, transferred, or encumbered, and any attempt to do so shall be void.
      Participant's interest in benefits under the Plan shall not be subjected
      to debts or liabilities of any kind and shall not be subject to
      attachment, garnishment, or other legal process.

1.13. REPRESENTATIONS. Employer does not represent or guarantee that any
      particular federal or state income, payroll, personal property, or other
      tax consequence will result from participation in this Plan. Participant
      should consult with professional tax advisors to determine the tax
      consequences of his participation.

1.14. APPLICABLE LAW. This Plan shall be construed in accordance with applicable
      federal law and, to the extent otherwise applicable, the law of the State
      of New Jersey.

1.15. RESPONSIBILITY FOR TAXES. Participant is responsible for all federal,
      state, and other taxes assessed on amounts deferred under this Plan.
      Employer shall have the right to withhold or reduce Plan benefits to
      satisfy such withholding obligations, as it may deem necessary to ensure
      proper withholding procedures.

1.16. ESTABLISHMENT OF TRUST. In the event of a Change in Control as defined in
      Paragraph 1.19, the Employer shall immediately establish the Employee's
      Trust (the "Trust") and contribute assets to such Trust in an amount equal
      to the Employer's obligations to the Participant under this Plan
      determined as of the date of the Change in Control. Prior to such a Change
      in Control, the Employer may, at its option and in its sole discretion,
      establish such a Trust. Such Trust shall be established in accordance with
      the Internal Revenue Service model trust agreement as set forth in Revenue
      Procedure 92-64.

1.17. EFFECT OF THE TRUST. The provisions of the Plan shall govern the rights of
      the Participant to receive distributions pursuant to the Plan. The
      provisions of the Trust shall govern the rights of the Participant and the
      creditors of the Employer to the assets transferred to the Trust. The
      Employer shall at all times remain liable to carry out its obligations
      under the Plan. The Employee's obligations under the Plan

                                       3
<PAGE>   4
      may be satisfied with Trust assets distributed pursuant to the terms of
      the Trust, and any such distribution shall reduce the Employee's
      obligation under the Plan.

1.18. PRIOR PLANS AND AGREEMENTS. This Plan supercedes all prior plans and
      agreements between the Company and the Employee with respect to deferred
      compensation and all sums and investments held under such other plans and
      agreements shall be transferred to this Plan and administered under its
      terms.

1.19. DEFINITIONS. For purposes of Paragraph 1.16, the following capitalized
      words shall have the meanings set forth below:

      19.1.1.     "CHANGE IN CONTROL" shall be as defined in Section 3.5 of
                  the Employment Agreement dated as of December 15, 1999
                  among the MIIX Group, Incorporated, New Jersey State
                  Medical Underwriters, Inc. and Kenneth Koreyva.

IN WITNESS WHEREOF, the parties have executed this Agreement on one or more
counterparts which, taken together, shall constitute one Agreement, which
Agreement shall be effective as of the date recited above.

THE MIIX GROUP, INCORPORATED

By:________________________________       ____________________________
                                          Date

NEW JERSEY STATE MEDICAL
UNDERWRITERS, INC.

By:________________________________       ____________________________
                                          Date

___________________________________       ____________________________
      KENNETH KOREYVA                     Date

                                       4
<PAGE>   5
                        THE MIIX GROUP, INCORPORATED AND
                   NEW JERSEY STATE MEDICAL UNDERWRITERS, INC.

                           DEFERRED COMPENSATION PLAN

                            INVESTMENT ELECTION FORM

Pursuant to the terms of the Non-Qualified Deferred Compensation Agreement
entered into between me, The MIIX Group, Incorporated, and New Jersey State
Medical Underwriters, Inc. effective December 15, 1999 ("Plan"), I hereby revoke
any prior investment designations for the amounts credited to my account balance
under the Plan, and I hereby elect the following investments for amounts
credited to my account. This election is to be effective at the earliest date
permissible under and subject to all of the terms of, the Plan:

Investment Options Percentage of Plan Account:

<TABLE>
<S>                                                         <C>
      1.    Specified Investments*                          $________________
      2.    Unspecified**                                         100%
      3.    ______________________________________          _________________
      4.    ______________________________________          _________________
      5.    ______________________________________          _________________
      Total ______________________________________          $________________
</TABLE>

*    Specify Investment:__________________________________________________

**   Therefore earning interest in an amount equal to the consolidated aggregate
     investment portfolio yield for The MIIX Group, Incorporated.

Participant's Signature:___________________________________________________

Print Name:________________________________________________________________

Date:______________________________________________________________________

Approved:__________________________________________________________________

By:________________________________________________________________________

Print Name:________________________________________________________________

Date:______________________________________________________________________
<PAGE>   6
                        THE MIIX GROUP, INCORPORATED AND
                 NEW JERSEY STATE MEDICAL UNDERWRITERS, INC.

                           DEFERRED COMPENSATION PLAN

                                ELECTION TO DEFER

Pursuant to the terms of the Non-Qualified Deferred Compensation Agreement
entered into between me, The MIIX Group, Incorporated, and New Jersey State
Medical Underwriters, Inc. effective December 15, 1999, I hereby elect to defer
the following amounts or percentages of compensation:

Salary:     Commencing on    _________________________________________________

            In the amount of _________________________________________________

Bonus:      That will be determined on _______________________________________

            In the amount of _________________________________________________

Stock Option
Dividend Equivalents:   Commencing on ________________________________________

Participant's
Signature:____________________________________________________________________

Print Name:________________________________________________________________

Date:______________________________________________________________________

Approved:   The MIIX Group, Incorporated

By:_______________________________________________________________________

Print Name:________________________________________________________________

Date:______________________________________________________________________

Approved:   New Jersey State Medical Underwriters, Inc.

By:_______________________________________________________________________

Print Name:________________________________________________________________

Date:______________________________________________________________________

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