The provisions of ORS 653.272 relating to overtime compensation requirements for agricultural workers do not apply to:
(1) An individual described in ORS 653.020 (1).
(2) An individual employed in agriculture whose principal duties are administrative, executive or professional work and who:
(a) Performs predominantly intellectual, managerial or creative tasks;
(b) Exercises discretion and independent judgment; and
(c) Earns a salary and is paid on a salary basis.