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

These Restricted Units are subject to the terms and conditions contained in the 2017 Restricted Units Provisions (“Provisions”) set forth in Appendix A to this Award Letter. The Provisions contain terms and conditions regarding the vesting of these Restricted 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.