Document:

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                                                                   EXHIBIT 10.30

                              EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT is entered into as of the 10th day of April, 2001
by and between CERES GROUP, INC., a Delaware corporation, referred to in this
Agreement as "Employer," and BRUCE M. HENRY, referred to in this Agreement as
"Employee."

                                    RECITALS:

     Employer is engaged in the insurance business and maintains its corporate
office in the City of Strongsville, Ohio; and

     Employee is willing to continue to be employed by Employer, and Employer is
willing to continue to employ Employee on the terms, covenants and conditions
set forth in this Agreement.

     For good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties agree as follows:

     1.   Employer shall employ Employee as Chief Marketing Officer, solely
          subject to the supervision and pursuant to the assignments, advices
          and directions of Employer. Employee's duties and responsibilities
          shall continue to include duties and responsibilities as are
          customarily performed by one holding such a position for Employer
          and/or other similar businesses or enterprises."

     2.   The duration of employment pursuant to this Agreement shall be for a
          period of two (2) years, commencing on April 1, 2001 through June 30,
          2003; provided, however, that this Agreement shall automatically renew
          for succeeding one (1) year terms, unless the Employer provides
          Employee with at least sixty (60) days' advance written notice that
          this Agreement and Employee's employment shall terminate as of the
          close of business on June 30 of the then-current original or renewal
          termination date (as the case may be). However, regardless of any
          provisions of this Agreement to the contrary, or which could be
          construed to the contrary, in that event, or in the event Employee
          shall leave the employment of Employer at any time other than as a
          voluntary quit or for cause under Section 16, Employee shall be
          entitled to severance pay equal to eighteen (18) months of Employee's
          then-current annual salary (less normal administrative deductions),
          payable in eighteen (18) equal monthly installment on the first day of
          each month, such payments to be in lieu of any other severance or
          termination payment from Employer.

          In the event that Employee's employment is terminated in connection
          with a "change of control" of Employer, Employee shall be entitled to
          receive cash compensation equal to two (2) years of Employee's
          then-current annual salary (less normal administrative deductions),
          payable in lump sum within thirty (30) days of such "change of
          control," such payment to be in lieu of any other severance or
          termination payment contained herein. . "Change of control" shall mean
          the occurrence of any of the following events:

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               (i)  a tender offer shall be made and consummated for the
                    ownership of 50.1% or more of the outstanding voting
                    securities of Employer;

               (ii) Employer shall be merged or consolidated with another
                    corporation and, as a result of such merger or
                    consolidation, less than 50.1% of the outstanding voting
                    securities of the surviving or continuing corporation shall
                    be owned in the aggregate by the former stockholders of
                    Employer as the same shall have existed immediately prior to
                    such merger or consolidation; or

               (iii) Employer shall sell substantially all of its operating
                    assets to another corporation which is not a wholly-owned
                    subsidiary;

               (iv) a person, within the meaning of Section 3(a)(9) or of
                    Section 13(d)(3) (as in effect on the date hereof) of the
                    Exchange Act shall acquire, other than by reason of
                    inheritance, (50.1%) or more of the outstanding voting
                    securities of Employer (whether directly, indirectly,
                    beneficially or of record). In determining whether a Change
                    of Control has occurred, gratuitous transfers made by a
                    person to an affiliate of such person (as determined by the
                    Board of Directors of Employer), whether by gift, devise or
                    otherwise, shall not be taken into account. For purposes of
                    this Agreement, ownership of voting securities shall take
                    into account and shall include ownership as determined by
                    applying the provisions of Rule 13d-3(d)(1)(i) as in effect
                    on the date hereof pursuant to the Exchange Act."

     3.   During this Agreement, Employer shall pay Employee (according to
          Employer's normal payroll procedures) and Employee agrees to accept
          from Employer, in full payment for services under this Agreement, a
          salary set by the Board of Directors and Employee shall receive annual
          reviews and merit increases.

          Employee shall also participate in Employer's bonus plan for officers
          or such other incentive compensation or plans as may be established by
          the Board of Directors of Employer (the "Officer Bonus Plan").
          Employee's bonus shall be payable as soon as it reasonably can be
          determined. Notwithstanding the foregoing, Employee shall be entitled
          to defer the receipt of his salary and/or bonus pursuant to procedures
          adopted or plans maintained by Employer.

          In addition to the above stated salary, Employer agrees that it will
          reimburse Employee for any and all necessary, customary and usual
          business expenses incurred by Employee, subject to Employer's
          then-current policies regarding such expenses.

          In addition to the above salary and reimbursement, Employee shall be
          provided all fringe benefits on the same basis that Employer normally
          provides to a regular full-time employee holding Employee's position
          with Employer, including, but not limited to, health/dental insurance,
          life insurance, holidays, vacations (etc.)."

<PAGE>   3

     4.   Employee shall devote all Employee's time, attention, knowledge, and
          skill solely and exclusively to the business and interest of Employer,
          and Employer shall be entitled to all of the benefits, emoluments,
          profits or other issues arising from or incident to any and all work,
          services and advice of Employee, and Employee expressly agrees that
          during the term of this Agreement, Employee will not be interested,
          directly or indirectly, in any form, fashion or manner, as partner,
          officer, director, stockholder, advisor, employee or in any other form
          or capacity, in any other business similar to Employer's business or
          any allied trade.

     5.   Employee further specifically agrees that Employee will not, at any
          time during the term of this Agreement and for three (3) years
          following the termination of this Agreement for any reason, in any
          manner, either directly or indirectly, communicate to any person, firm
          or corporation any information of any kind concerning any matters
          affecting or relating to the business of Employer, including, without
          the limiting the generality of the foregoing, the lists or names of
          any of its policyholders or customers or agents, the prices it obtains
          or has obtained or at which it sells or has sold its products, or any
          other information of, about or concerning the business of Employer,
          its manner of operation, its plans, processes or other data of any
          kind, nature or description without regard to whether any or all of
          the foregoing matters would be deemed confidential, material,
          proprietary or important, and significantly affect the effective and
          successful conduct of the business of Employer, and its goodwill, and
          that any breach of the terms of this paragraph is a material breach of
          this Agreement.

          During Employee's employment hereunder and, in the event of a change
          of control or termination of Employee's employment for any reason
          other than for cause (under Section 16) or a voluntary quit, for a
          period of one (1) year, Employee shall not engage, directly or
          indirectly, whether as an owner, partner, employee, officer, director,
          agent, consultant or otherwise, in any location where Employer or any
          of its subsidiaries is engaged in business after the date hereof and
          prior to the termination of Employee's employment, in a business the
          same or similar to, any business now, or at any time after the date
          hereof and prior to Employee's termination, conducted by Employer or
          any of its subsidiaries, provided, however, that the mere ownership of
          5% or less of the stock of a company whose shares are traded on a
          national securities exchange or are quoted on the National Association
          of Securities Dealers Automated Quotation System shall not be deemed
          ownership which is prohibited hereunder.

          Employee agrees that regardless of any termination of this Agreement,
          during or at the end of this Agreement or any renewal thereof,
          Employee will not, for a period of one (1) year thereafter, (i) hire,
          retain or recruit any of Employer's insurance agents for the purpose
          of performing services for Employee or another insurance company, or
          (ii) contact or solicit, directly or indirectly, any person, firm or
          entity connected with Employer, including its customers or clients,
          for the purpose of diverting work or business from the Employer.

          No termination of this Agreement shall terminate the rights and
          obligations of the parties under this Section, but such rights and
          obligations shall serve such termination in accordance with the terms
          of this Section.

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     6.   Following the termination of this Agreement for any reason, Employee
          hereby agrees and acknowledges that Employee will continue to have a
          duty of loyalty to Employer, and to the officers, directors,
          shareholders and employees of Employer, and in recognition of that
          duty of loyalty, Employee agrees that Employee shall not indulge in
          any conduct which may reflects adversely upon, nor make any statements
          disparaging of, Employer, or the officers, directors, shareholders or
          employees of Employer.

     7.   Employee agrees that the remedy at law for any violation or threatened
          violation by Employee of Sections 4, 5 and 6 will be inadequate and
          that, accordingly, Employer shall be entitled to injunctive relief in
          the event of a violation or threatened violation without being
          required to post bond or other surety. The foregoing remedies shall be
          in addition to, and not in limitation of, any other rights or remedies
          to which Employer is or may be entitled at law, or in equity, or under
          this Agreement.

     8.   Notwithstanding any other provisions of this Agreement, this Agreement
          shall be deemed automatically terminated upon death. In such event,
          Employer shall pay to Employee's personal representative or executor
          any compensation accrued but unpaid as of such date. Upon the payment
          of such accrued compensation, Employer shall have no further
          obligations under this Agreement, including, but not limited to, an
          obligation to pay a salary, severance or termination pay or any other
          form of compensation, or to provide any further fringe benefits of any
          kind or nature.

     9.   This written Agreement contains the sole and entire agreement between
          the parties and shall supersede any and all other agreements, whether
          oral or written, between the parties. The parties acknowledge and
          agree that neither of them has made any representation with respect to
          the subject matter of this Agreement or any representations inducing
          its execution and delivery, except such representations as are
          specifically set forth in this writing, and the parties acknowledge
          that they have relied on their own judgment in entering into the same.
          The parties further acknowledge that any statements or representations
          that may have been made by either of them to the other are void and of
          no effect and that neither of them has relied on such statements or
          representations in connection with its dealings with the other.

     10.  The terms of this Agreement are to be confidential, and Employee shall
          disclose its terms only to Employee's attorney, tax advisor and/or
          spouse, if any, subject to disclosure that may be necessary to comply
          with applicable law or in the event of a dispute leading to mediation
          and/or arbitration.

     11.  It is agreed that no waiver or modification of this Agreement or of
          any covenant, condition or limitation contained in it shall be valid
          unless it is in writing and duly executed by the party to be charged
          with it, and that no evidence of any waiver or modification shall be
          offered or received in evidence in any proceeding, arbitration or
          litigation between the parties arising out of or affecting this
          Agreement, or the rights or obligations of any party under it, unless
          such waiver or modification is in writing, duly executed as above. The
          parties agree that the

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          provisions of this paragraph may not be waived, except by a duly
          executed writing.

     12.  If a dispute of any kind arises from or relates in any manner to this
          Agreement or the breach thereof, and if such dispute cannot be settled
          through direct discussions, the parties agree to endeavor to first
          settle the dispute in an amicable manner by mediation administered by
          and through the American Arbitration Association in accordance with
          its Commercial Mediation Rules before resorting to arbitration.
          Thereafter, any unresolved controversy or claim arising from or
          relating to this Agreement or breach thereof shall be settled by
          arbitration administered by and through the American Arbitration
          Association in accordance with its Commercial Arbitration Rules,
          provided however that only one arbitrator shall be appointed, which
          arbitrator shall be an attorney licensed in the State of Ohio or an
          active or retired judge, having experience in employment contracts,
          and judgment on the award rendered by the arbitrator may be entered in
          any court having jurisdiction thereof.

     13.  The parties agree that it is their intention and covenant that this
          Agreement be construed in accordance with and under and pursuant to
          the laws of the State of Ohio.

     14.  This Agreement shall be binding on and inure to the benefit of the
          respective parties and their executors, administrators, heirs,
          personal representative, successors and assigns.

     15.  Employee shall have the right to voluntarily quit Employee's
          employment and terminate this Agreement by giving sixty (60) days'
          advance written notice to Employer at the address provided herein at
          its Home Office. Notwithstanding any other provision of this
          Agreement, if Employee shall so voluntarily quit and terminate this
          Agreement, Employer shall have nor further obligations pursuant to the
          terms of this Agreement, except to pay to Employee accrued salary to
          the date of termination.

     16.  Notwithstanding any other provisions of this Agreement to the
          contrary, Employee's employment and this Agreement may be terminated
          by the Employer at any time without further compensation or severance
          pay or fringe benefits for significant just and sufficient cause. For
          purposes of this paragraph, "significant just and sufficient cause"
          shall mean any action or non-action involving a material breach of the
          terms and conditions of this Agreement by Employee which cannot be
          promptly cured or rectified by Employee to the Employer's reasonable
          satisfaction, or gross or repeated insubordination or a major conflict
          or interference with the Employer's best interests or business
          operations.

     17.  Upon termination of this Agreement for any reason, Employee shall
          immediately return any property of Employer, including, but not
          limited to, any equipment, credit cards, advertising materials,
          booklets, training guides or any other such similar information,
          materials or documents that Employee has in Employee's possession or
          control.

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     18.  All notices required to be provided under the terms of this Agreement
          shall be sent by United States mail, certified, return receipt
          requested, and to the following addresses:

          TO EMPLOYER:
          Ceres Group, Inc.
          17800 Royalton Road
          Strongsville, Ohio 44136

          TO EMPLOYEE:
          Bruce M. Henry
          610 Hardwick Drive
          Aurora, Ohio 44202

     ACKNOWLEDGMENT BY EMPLOYEE: BY SIGNING THIS AGREEMENT, I AFFIRM THAT I HAVE
     CAREFULLY READ AND CONSIDERED ALL OF THE TERMS AND CONDITIONS OF THIS
     AGREEMENT AND THAT SUCH TERMS AND CONDITIONS ARE UNDERSTOOD, ACCEPTED AND
     AGREED.

     IN WITNESS WHEREOF, the parties have executed this Amendment as of the date
first above written.

EMPLOYER:                                 EMPLOYEE:
CERES GROUP, INC.                         BRUCE M. HENRY

By: /s/ Peter W. Nauert                   /s/ Bruce M. Henry
    ---------------------------           ---------------------------

Its: Chief Executive Officer
     --------------------------<PAGE>   1
                                                                   EXHIBIT 10.31

                     FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

     THIS FIRST AMENDMENT TO EMPLOYMENT AGREEMENT is entered into as of the 10th
day of April, 2001 by and between CERES GROUP, INC., a Delaware corporation,
referred to in this Agreement as "Employer", and ANTHONY J. PINO, referred to in
this Agreement as "Employee".

                                    RECITALS:

     Employer and Employee entered into a certain Employment Agreement as of the
1st day of October, 1999 (the "Original Agreement"). The parties now desire to
amend the Original Agreement, as hereinafter set forth.

     For good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties agree as follows:

     1.   Section 1 of the Original Agreement is hereby deleted in its entirety
          and the following inserted in its place:

          Employer shall employ Employee as Executive Vice President,
          Operations, solely subject to the supervision and pursuant to the
          assignments, advices and directions of Employer. Employee's duties and
          responsibilities shall continue to include duties and responsibilities
          as are customarily performed by one holding such a position for
          Employer and/or other similar businesses or enterprises."

     2.   Section 2 of the Original Agreement is hereby deleted in its entirety
          and the following inserted in its place:

          "The duration of employment pursuant to this Agreement shall be for a
          period of two (2) years, commencing on April 1, 2001 through June 30,
          2003; provided, however, that this Agreement shall automatically renew
          for succeeding one (1) year terms, unless the Employer provides
          Employee with at least sixty (60) days' advance written notice that
          this Agreement and Employee's employment shall terminate as of the
          close of business on June 30 of the then-current original or renewal
          termination date (as the case may be). However, regardless of any
          provisions of this Agreement to the contrary, or which could be
          construed to the contrary, in that event, or in the event Employee
          shall leave the employment of Employer at any time other than as a
          voluntary quit or for cause under Section 16, Employee shall be
          entitled to severance pay equal to eighteen (18) months of Employee's
          then-current annual salary (less normal administrative deductions),
          payable in eighteen (18) equal monthly installments on the first day
          of each month, such payments to be in lieu of any other severance or
          termination payment from Employer.

          In the event that Employee's employment is terminated in connection
          with a "change of control" of Employer, Employee shall be entitled to
          receive cash compensation equal to two (2) years of Employee's
          then-current annual salary (less normal administrative deductions),
          payable in lump sum within thirty (30)

<PAGE>   2

          days of such "change of control," such payment to be in lieu of any
          other severance or termination payment contained herein. "Change of
          control" shall mean the occurrence of any of the following events:

              (i)   a tender offer shall be made and consummated for the
                    ownership of 50.1% or more of the outstanding voting
                    securities of Employer;

              (ii)  Employer shall be merged or consolidated with another
                    corporation and, as a result of such merger or
                    consolidation, less than 50.1% of the outstanding voting
                    securities of the surviving or continuing corporation shall
                    be owned in the aggregate by the former stockholders of
                    Employer as the same shall have existed immediately prior to
                    such merger or consolidation; or

              (iii) Employer shall sell substantially all of its operating
                    assets to another corporation which is not a wholly-owned
                    subsidiary;

               (iv) a person, within the meaning of Section 3(a)(9) or of
                    Section 13(d)(3) (as in effect on the date hereof) of the
                    Exchange Act shall acquire, other than by reason of
                    inheritance, (50.1%) or more of the outstanding voting
                    securities of Employer (whether directly, indirectly,
                    beneficially or of record). In determining whether a Change
                    of Control has occurred, gratuitous transfers made by a
                    person to an affiliate of such person (as determined by the
                    Board of Directors of Employer), whether by gift, devise or
                    otherwise, shall not be taken into account. For purposes of
                    this Agreement, ownership of voting securities shall take
                    into account and shall include ownership as determined by
                    applying the provisions of Rule 13d-3(d)(1)(i) as in effect
                    on the date hereof pursuant to the Exchange Act."

     3.   Section 3 of the Original Agreement is hereby deleted in its entirety
          and the following inserted in its place:

          "During this Agreement, Employer shall pay Employee (according to
          Employer's normal payroll procedures) and Employee agrees to accept
          from Employer, in full payment for services under this Agreement, a
          salary set by the Board of Directors and Employee shall receive annual
          reviews and merit increases.

          Employee shall also participate in Employer's bonus plan for officers
          or such other incentive compensation or plans as may be established by
          the Board of Directors of Employer (the "Officer Bonus Plan").
          Employee's bonus shall be payable as soon as it reasonably can be
          determined. Notwithstanding the foregoing, Employee shall be entitled
          to defer the receipt of his salary and/or bonus pursuant to procedures
          adopted or plans maintained by Employer.

          In addition to the above stated salary, Employer agrees that it will
          reimburse Employee for any and all necessary, customary and usual
          business expenses incurred by Employee, subject to Employer's
          then-current policies regarding such expenses.

<PAGE>   3

          In addition to the above salary and reimbursement, Employee shall be
          provided all fringe benefits on the same basis that Employer normally
          provides to a regular full-time employee holding Employee's position
          with Employer, including, but not limited to, health/dental insurance,
          life insurance, holidays, vacations (etc.)."

     4.   The following shall be added to page 5, Section 6 of the Original
          Agreement following the first paragraph of Section 6:

          "During Employee's employment hereunder and, in the event of a change
          of control or termination of Employee's employment for any reason
          other than for cause (under Section 16) or a voluntary quit, for a
          period of one (1) year, Employee shall not engage, directly or
          indirectly, whether as an owner, partner, employee, officer, director,
          agent, consultant or otherwise, in any location where Employer or any
          of its subsidiaries is engaged in business after the date hereof and
          prior to the termination of Employee's employment, in a business the
          same or similar to, any business now, or at any time after the date
          hereof and prior to Employee's termination, conducted by Employer or
          any of its subsidiaries, provided, however, that the mere ownership of
          5% or less of the stock of a company whose shares are traded on a
          national securities exchange or are quoted on the National Association
          of Securities Dealers Automated Quotation System shall not be deemed
          ownership which is prohibited hereunder."

     5.   Except to the extent expressly amended by this First Amendment, each
          and every term of the Original Agreement shall remain in full force
          and effect.

     IN WITNESS WHEREOF, the parties have executed this First Amendment as of
the date first above written.

EMPLOYER:                                  EMPLOYEE:
CERES GROUP, INC.                          ANTHONY J. PINO

By: /s/ Peter W. Nauert                    /s/ Anthony J. Pino
    ----------------------------           --------------------------

Its: Chief Executive Officer
     ---------------------------

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