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Mike is the CEO of Rosario Industries, a research organization, and he makes an annual salary of $200,000. Mike is chiefly responsible for the development of the organization, patenting all of the company's intellectual property, and licensing that property to grow the company's revenue. Which of the following white collar exemptions would Mike qualify for?
If a company employee is earning a salary that is deemed to be excessive when compared to their counterparts of equal ability, their pay rate may be identified as what type of rate?