Indeed, the item adsorbed the negative levels (no immunity). 9 negative levels the item broke as it could no longer adsorb and you can wear only one of such items anyway. Also same token reflect is not immunity but means to re-direct the harm to something else (that can also affect anyone who picked up immunity breakers albeit off hand I do not remember reflect function vs negative levels besides chaining kids on your crotch and transfer all harm suffered to them from book of vile darkness).