SECTION 1. Notwithstanding any general or special law to the contrary, there shall be an appointed treasurer in the Town of Hadley. The treasurer shall have all the powers, perform the duties and be subject to the liabilities and penalties now or hereafter conferred and imposed by law on town treasurers. The treasurer shall be appointed and may be removed by a majority vote of the select board of the town. The Select Board may establish an employment agreement with the treasurer for salary, fringe benefits and other conditions of employment, including, but not limited to, severance pay, reimbursement for expenses incurred in the performance of the duties of the office, liability insurance and conditions of discipline, termination, dismissal, reappointment, performance standards and leave. A vacancy in the office shall be filled in a like manner.

SECTION 2. Notwithstanding section 1, the incumbent holding the office of town treasurer of the Town of Hadley on the effective date of this act shall continue to hold such office and to perform the duties thereof until the expiration of the term for which he or she was elected, unless he or she sooner vacates such office. After the term of the incumbent town treasurer holding such office on the effective date of this act has expired, or is sooner vacated, the Select Board shall appoint a treasurer in the manner set forth in section 1 of this act. In the event an incumbent town treasurer vacates his or her position prior to the expiration of his or her term of office, an interim town treasurer shall be appointed to serve.

SECTION 3. This act shall take effect upon its passage.