A research presentation made in ICA2015: Email phishing poses a grave security threat to national governments, business operations and average Internet users. The current study presents a model of counter-phishing protective behaviour based on email users' cognitive appraisal of phishing threat and systematic/heuristic processing of email content. The model integrates the theoretical frameworks of protection motivation theory and heuristic-systematic model of information processing. Findings suggest that protective behaviour against email phishing is predicted by a high degree of perceived severity and vulnerability towards cybersecurity risks, a high level of self-efficacy in performing cybersecurity checks and efficacy in responding using cybersecurity tools. The perceived severity, along with the elevated degree of protective behaviour, predicts systematic processing of phishing emails.