regulations recognize certain business owners as exempt executives. Employees who own at least 20-percent
equity in a business and are actively engaged in the management of the
enterprise are exempt executives. For
example, an employee who owns 20 percent of the business and manages the
finances of the business is an exempt executive. Conversely, a person who owns 20-percent of
an enterprise, but whose only responsibility is to run a cash register would
not qualify as an exempt executive.