Michael Malaguti the Londonderry Town Manager resigned on 10/24/2024 Town Managers’ Letter of Resignation. Malaguti has given a six month notice, his final day will be 4/24/2025The Town Council has not publicly addressed the resignation and no plan for a replacement has been presented to the public.
I was sent copies of the Town Managers contract which are below. The Town Council chose to renew Malaguti’s Contract nine months in advance of it’s expiration signing a new contract in July. Considering the events over the last year some residents may be asking why?
Initial Contract 4/11/2022 Thru 4/11/2025
Malaguti was hired on 4/11/2022 with a three year contract ending on 4/11/2025 with a base pay of $130,000, insurance benefits, and contributions to a retirement account of $13,000 year One, $16,000 year two, and $19,000 in year three. The contract also included 22 days of paid leave in addition to holidays. If terminated by the Town Council Malaguti was granted a lump sum of four months salary.
Amended Contract 7/20/2023 Thru 4/11/2025
Malaguti’s contract was amended on 7/20/2023 the end date of the contract was kept at 4/11/2025 base pay increased to $137,150, insurance benefits, contributions to a retirement account remained the same. Paid leave was increased to 27 days.
Contract Renewed 7/20/2024 Thru 4/11/2027
Malaguti’s contract was renewed early on 7/1/2024 for another three years ending on 6/30/2027 base pay was increased to $144,375, insurance benefits remained, contributions to a retirement account increased to $19,000 year One, $20,000 for year two and three. Paid leave remained at to 27 days in addition to holidays. If terminated by the Town Council the lump sum was increased to six months salary.
Initial Contract 4/11/2022 Thru 4/11/2025
Amended Contract 7/20/2023 Thru 4/11/2025
Contract Renewed 7/20/2024 Thru 4/11/2027