Generally, as managers, is probably classified as 'salaried exempt'. The reason that I say 'probably' is that there are specific requirements established by federal and state laws that define whether a person is really 'salaried exempt'. Generally, an employee is 'exempt' if classified as "executive," "administrative" or "professional." The final determination of whether your tasks are truly exempt or not is not a simple matter (it has to do with job requirements, supervisory issues, whether you are required to 'punch a clock', the responsibility that you are given, etc.) and you might consider talking with an attorney in your state to see whether your position is truly 'exempt'.
If it is determined that your position is NOT exempt, here is the Missouri Statute that applies:
"Overtime compensation, applicable number of hours, exception.
290.505. 1. No employer shall employ any of his employees for a workweek longer than forty hours unless such employee receives compensation for his
employment in excess of the hours above specified at a rate not less than one and one-half times the regular rate at which he is employed.
2. Employees of an amusement or recreation business that meets the criteria set out in 29 U.S.C. 213(a)(3) must be paid one and one-half times their regular compensation for any hours worked in excess of fifty-two hours in any one-week period."
http://www.moga.state.mo.us/statutes/C200-299/2900505.HTM
Also note that the MO statute (290.500) defines an employee as:
"(3) "Employee", an individual employed by an employer, except that the term "employee" shall not include:
(a) Any individual employed in a bona fide executive, administrative, or professional capacity;"
To read the entire MO statute on wage and overtime, click on:
http://www.moga.state.mo.us/STATUTES/C290.HTM
