Exhibit (h)(5)(i)

AMENDMENT TO PARTICIPATION AGREEMENT

  

THIS AMENDMENT TO PARTICIPATION AGREEMENT (this “Amendment”) is made as of the 9th day of September, 2022, by and among PROTECTIVE LIFE INSURANCE COMPANY, a life insurance company organized under the laws of the State of Tennessee (the “Company”), acting herein for and on behalf of itself and on behalf of each segregated asset account set forth in Schedule A to the Participation Agreement between the parties (the “Accounts”); DAVIS VARIABLE ACCOUNT FUND, INC., a Maryland Corporation (the “Fund”), and DAVIS DISTRIBUTORS, LLC, a Delaware Limited Liability Company (the “Distributor”, and together with the Fund, “Davis”)

  

RECITALS

  

WHEREAS, the Company and the Davis are parties to a certain Participation Agreement dated November 1, 2020 (the “Agreement”);

  

WHEREAS, the parties desire to amend the Agreement to update the separate accounts listed in Schedule A; and,

  

WHEREAS, the parties now desire to modify the Agreement as provided herein.

  

NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and conditions set forth herein, and for other good and valuable consideration, the parties agree to amend the Agreement as follows:

  

1.            Schedule A. Schedule A to the Agreement is hereby deleted in its entirety and replaced with Schedule A as attached hereto.

  

2.            Counterparts. This Amendment may be executed in two or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument.

  

3.            Full Force and Effect. Except as expressly supplemented, amended or consented to hereby, all of the representations, warranties, terms, covenants and conditions of the Agreement shall remain unamended and shall continue to be in full force and effect.

  

 

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

  

 

  PROTECTIVE LIFE INSURANCE COMPANY, on behalf of
itself and each Separate Account
   
  By: /s/ Steve Cramer  

 

  Name: Steve Cramer  

 

  Title: Chief Product Officer - Retirement Division  

  

  

 

 

  DAVIS VARIABLE ACCOUNT FUND
   
  By: /s/ Kenneth Eich  

 

  Name: Kenneth Eich  

 

  Title: Executive Vice President  

  

 

 

  DAVIS DISTRIBUTORS, LLC
   
  By: /s/ Kenneth Eich  

 

  Name: Kenneth Eich  

 

  Title: President  

  

 

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SCHEDULE A

  

Separate Accounts

  

  

Protective COLI VUL Separate Account

  

Protective COLI PPVUL Separate Account

  

Protective BOLI PPVUL Separate Account

  

 

 
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