Bruce Jocz has more than 25 years of experience in the employee benefit and executive compensation arena. This experience allows him to provide clients, with not only a legal perspective, but also a business and risk analysis prospective. He knows and understands the views of the Internal Revenue Service (IRS) and Department of Labor (DOL) on various employee benefit and executive compensation issues and uses that knowledge in assisting clients in making prudent business decisions.
As a former accountant, Bruce understands how business decisions related to employee benefits and executive compensation affects a client’s bottom line or business transactions and always includes such knowledge in his counsel to clients.
Finally, Bruce understands that employee benefits and executive compensation should never be the reason a business transaction fails. He has been on both sides of numerous transactions, buying and selling, which allows him to understand the perspective of both purchasers and sellers. This understanding allows him to negotiate and counsel the side he represents in a manner which keeps the employee benefit and executive compensation issues from being a major hurdle in closing a transaction.
Recent Notable Matters
Upper Bay Infrastructure Partners — acquisition of Tidewater Transportation & Terminals, a multi-commodity transportation, terminal, and marine construction and repair company serving the Pacific Northwest, from Stonepeak Infrastructure Partners. Upper Bay Infrastructure Partners was the lead investor of a group consisting of Ullico, funds and accounts under management by BlackRock, Silverfern and certain other co-investors.
Pioneer Natural Resources Company — agreement with undisclosed buyer to sell all of its assets in the West Panhandle field in Texas for $201 million (2018)
Castleton Commodities International LLC — equity investment by Tokyo Gas America Ltd. in CCI’s subsidiary, Castleton Resources LLC, which owns upstream assets in East Texas (2017); advised on the restructured employee benefits to be implemented post–closing and assisted in the initiation of a management equity incentive compensation program.
Hydro One Limited — $5.3 billion proposed acquisition of Avista Corporation in an all-cash transaction (now terminated)
Great Plains Energy Incorporated — revised stock-for-stock merger of equals transaction with Westar Energy, Inc., creating a company with a combined equity value of approximately $14 billion, and with nearly 13,000 MW of generation capacity and more than 51,000 miles of distribution lines, which included negotiating merger agreement provisions related to employee benefits and executive compensation, analyzing potential parachute issues, and continuing to assist with the compliance aspects of the negotiated provisions
NRG Retail LLC — agreement to acquire 100 percent of the membership interests in XOOM Energy Global Holdings, LLC; advised on employee benefit and executive compensation issues.
Tallgrass Energy Partners, LP — representing the Conflicts Committee of the Board of Directors of the General Partner of Tallgrass Energy Partners, LP (TEP) in the merger agreement between Tallgrass Energy GP, LP (TEGP) and TEP, in which TEGP will acquire all TEP common units held by the public; advised on executive compensation matters.
Duke Energy Corporation — $2.8 billion sale of its Midwest merchant generation business to a subsidiary of Dynegy Inc., which includes ownership interests in 11 power plants with a total capacity of approximately 6,100 MW, as well as Duke’s competitive retail electric and gas business with respect to employee benefit and executive compensation matters ; Platts Global Energy Awards, 2015 Strategic Deal of the Year
Phillips 66 — advised regarding the transfer of employees and related employee benefit issues in the exchange of Phillips Specialty Products Inc. to Berkshire Hathaway Inc. for shares of Phillips 66 stock held by Berkshire Hathaway affiliates, valued at approximately $1.4 billion
Apache Corporation — $3.75 billion sale of Gulf of Mexico Shelf operations and assets to Fieldwood Energy LLC, an affiliate of Riverstone Holding with respect to the transfer of employees and employee benefits in the sale
Lufkin Industries, Inc. — $3.3 billion acquisition by General Electric Co. Provided counsel on employee benefit and executive compensation issues.
Alinda Capital Partners — assisted with respect to employee benefit and executive compensation issues in its sale of SourceGas Holdings LLC to Black Hills Corp. for $1.89 billion.
Calpine Corporation — advised regarding the transfer of employees and related benefit issues in Calpine Corporation’s $500 million acquisition of the Granite Ridge Energy Center in New Hampshire.
Pioneer National Resources Company — acquisition of 28,000 acres in the Midland Basin from Devon Energy Corporation for $435 million, including negotiating the employment and employee benefit provisions of the purchase agreement
Major Houston private equity firm — representing in all acquisitions and divestitures with respect to the employee benefits analysis
Fortune 500 companies — providing equity and cost incentive compensation plans
Various companies — provides assistance in the administration and compliance of employee benefit plans, including qualified plans
Employers — provide assistance in the implementation and administration of deferred compensation arrangements, including compliance with code section 409A.