2017 Performance Units Award Letter (for key officers) of Protective Life Corporation

The Compensation and Management Succession Committee of the Company's Board of Directors has awarded you:

These Performance Units are subject to the terms and conditions contained in the 2017 Performance Units Provisions (“Provisions”) set forth in Appendix A to this Award Letter. The Provisions contain terms and conditions regarding the payment of these Performance Units, termination of employment, tax withholding, non-solicitation of Company employees and customers, regulatory compliance and other matters, and I encourage you to read this document carefully.