Effective May 14, 2010, the Department adopted Title 29, Part 541.100 (Subpart B – Executive Employees) of the Code of Federal Regulations that were in effect as of July 1, 2009. In order for an employee to be exempt as a bona fide executive, all of the following guidelines must be met:
- (1) Compensated on a salary basis at a rate of not less than $455 per week..., exclusive of board, lodging or other facilities;
- (2) Whose primary duty is management of the enterprise in which the employee is employed or of a customarily recognized department or subdivision thereof;
- (3) Who customarily and regularly directs the work of two or more other employees; and
- (4) Who has the authority to hire or fire other employees or whose suggestions and recommendations as to the hiring, firing, advancement, promotion or any other change of status of other employees are given particular weight.
For further reference and guidance, click here for the applicable rules and regulations.