Joshua Natzel

Joshua T. Natzel

Partner He / Him / His

Joshua T. Natzel provides practical advice on employee benefit and executive compensation matters. He works with his clients in the creation and operation of employee stock ownership plans (ESOPs) and other retirement plans, health and welfare benefits, nonqualified deferred compensation arrangements, and equity and phantom equity plans. Josh is a former teacher, and he draws on his teaching skills to help clients across industries better understand and navigate the complexities of ERISA, Internal Revenue Code, Affordable Care Act, COBRA, HIPAA, and other employee benefit laws.


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), 2018-2024

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



William Mitchell College of Law (now Mitchell Hamline School of Law) (J.D., cum laude, 2009)

Augsburg College (B.A. 2002)