After researching the issue deeper, apparently there are exceptions to the time-and-a-half regulation, and programmers are an exception. I'm not sure why you're specifically mentioning the word salary though.

Many people are not paid for their time (wages). Instead they're paid a fixed rate (a salary).

http://en.wikipedia.org/wiki/Salary#United_States

I think what jimmaswell was getting at is that salary does not equate to overtime exempt. There's plenty of overlap, but salaried workers who aren't exempt get paid overtime on a calculated basis.