Joshua T. Natzel is a trusted advisor to clients on employee benefits and executive compensation matters. He provides counsel on the design, implementation, and ongoing administration of employee stock ownership plans (ESOPs) and other qualified retirement plans, health and welfare programs, and nonqualified deferred compensation arrangements. Drawing on his experience as a former educator, Josh is skilled at helping clients understand and navigate the complex requirements imposed by ERISA and the Internal Revenue Code.
As leader of the firm’s ESOP practice, Josh has extensive experience representing ESOP trustees, shareholders, and companies throughout every stage of ESOP transactions—including initial formations, second-stage transactions, re-leveraged structures, terminations, as well as mergers and acquisitions involving ESOP-owned companies.
Josh also serves as Chair of both the firm’s Retirement Plan Committee and Health and Welfare Plan Committee.
Representative Experience
Representative Matters
- Represented an ESOP trustee of a manufacturing company ESOP in the purchase of stock from multiple shareholders through a two-stage integrated transaction in which the shareholders’ shares were redeemed by the company and newly issued shares were sold to the ESOP. Including advising the ESOP trustee on fiduciary issues relating to the use of seller notes, warrants, and stock appreciation rights in the transaction.
- Represented an ESOP trustee of a technology company ESOP in the initial purchase of stock from multiple shareholders through a tender offer.
- Represented an ESOP trustee in the sale of a distribution company owned 100 percent by an ESOP to a private equity buyer and assisted with terminating the ESOP.
Professional Highlights
Professional Activities
ESOP Association
National Center for Employee Ownership
American Bar Association
Minnesota Bar Association
Recognition & Accomplishments
The Best Lawyers in America, Employee Benefits (ERISA) Law (Minneapolis), 2018-2026
The Legal 500 US, Labor and Employment - Employee Benefits, Executive Compensation, and Retirement Plans - Design, 2019
Leonard E. Lindquist Pro Bono Award, 2018
Up & Coming Attorney, Minnesota Lawyer, 2015
North Star Lawyer, Minnesota State Bar Association, 2012-present
Board Memberships & Community Service
Children's Law Center of Minnesota, Board of Directors and Volunteer Attorney
Lindquist & Vennum Winter Closet Foundation, Board of Directors
Immigrant Law Center of Minnesota, Volunteer Attorney
Volunteer Youth Basketball Coach
Credentials
Education
William Mitchell College of Law (now Mitchell Hamline School of Law) (J.D., cum laude, 2009)
Augsburg College (B.A. 2002)
Admissions
Minnesota