This excerpt taken from the CHIC 10-K filed Jan 26, 2009.
Policies and Procedures with Respect to Related Party Transactions
FACE="Times New Roman" SIZE="2">Our Board of Directors is committed to upholding the highest legal and ethical conduct in fulfilling its responsibilities and recognizes that related party transactions can present a heightened risk of potential or
conflicts of interest and adherence to our Code of Business Conduct and Ethics and Code of Ethics for Financial Employees. Under our Code of Business Conduct and Ethics and Code of Ethics for Financial Employees, directors, officers and all other
members of the workforce are expected to avoid any relationship, influence or activity that would cause or even appear to cause a conflict of interest.
We have entered, and intend to continue to enter, into indemnification agreements with our directors
Board IndependenceSTYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">As required under NASDAQ Stock Market listing standards, a majority of the members of a listed companys Board of Directors must qualify as
independent, as affirmatively determined by the board. Our Board of Directors consults with our counsel to ensure that the Board of Directors determinations are consistent with all relevant securities and other laws and regulations
regarding the definition of independent, including those set forth in applicable NASDAQ listing standards, as in effect from time to time.
FACE="Times New Roman" SIZE="2">Consistent with these considerations, after review of all relevant transactions or relationships between each director, or any of his or her family members, and Charlotte Russe, our senior management and our