This armor is only wearable by the Templar classes. For the Templar, it is the medium armor, not having the shields of the lighter Swordsman armor and having less armor than the Defender Armor. This armor focusses more on the elemental defense and it will almost always have a +X defense to all elemental attacks as a standard feature, even on common white items.
Pro: Elemental Defenses
Con: Less armor, no shields