Interesting Challenging problem on Code Complexity

Picked up this interesting problem from the following book:



How many execution paths can this simple three line code take:

String EvaluateSalaryAndReturnName( Employee e )
{
  if( e.Title() == "CEO" || e.Salary() > 100000 )
  {
    cout << e.First() << " " << e.Last() << " is overpaid" << endl;
  }
  return e.First() + " " + e.Last();
}

The answer may surprise you. I have embedded the actual pages from Google books. Luckily the whole problem and solution is given. See Item 18.