(1) The term "employee employed in a bona fide * * * administrative * * * capacity" in Section 39-3-406 (1) (j) MCA of the Montana Minimum Wage and Overtime Compensation Act. shall mean any employee whose primary duty consists of the performance of office or nonmanual work directly related to management policies or general business operations of his employer or his employer's customers,

(2) Who customarily and regularly exercises discretion and independent judgment; and

(3) (a) Who regularly and directly assists a proprietor, or an employee employed in a bona fide executive or administrative capacity (as such terms are defined in the regulations of this subpart) , or

(b) Who performs under only general supervision work along specialized or technical lines requiring special training, experience, or knowledge, or

(c) Who executes under only general supervision special assignments and tasks;

(4) Who does not devote more than 20 percent or, in the case of an employee of a retail or service establishment, who does not devote as much as 40 percent, of his hours worked in the workweek to activities which are not directly and closely related to the performance of the work described in paragraph (1) of this section; and

(5) Who is compensated for his services on a salary or fee basis at a rate of not less than $150 per week, exclusive of board, lodging, or other facilities, or

Provided, that an employee who is compensated on a salary or fee basis at a rate of not less than $200 per week, exclusive of board, lodging, or other facilities and whose primary duty consists of the performance of work described in paragraph (1) of this section, which includes work requiring the exercise of discretion and independent judgment, shall be deemed to meet all of the requirements of this section. This subsection (5) shall not apply to employees whose salary or wages are fixed by legislative action.