This excerpt taken from the KRG DEF 14A filed Apr 5, 2007.
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
The Company has adopted a written related person transaction approval policy to further the goal of ensuring that any related person transaction is properly reviewed, and if necessary approved, first by the Governance Committee, and if appropriate, a majority of the disinterested trustees of the Board of Trustees. The policy applies to transactions or arrangements between the Company and any related person, including trustees, trustee nominees, executive officers, greater than 5% shareholders and the immediate family members of each of these groups. They do not, however, apply with respect to general conflicts between the interests of the Company and our employees, officers and trustees, including issues relating to engaging in a competing business and performing outside or additional work, which are reported and handled in accordance with the Companys Code of Business Conduct and Ethics and other procedures and guidelines implemented by the Company from time to time.
Under the policy, the trustees and executive officers of the Company are responsible for identifying and reporting any proposed transaction with a related person. Upon notification the chief financial officer begins collecting information regarding the transaction and notifies the Governance Committee Chairperson of such transaction. The Chairperson of the Governance Committee determines whether the proposed transaction is required to be or should be reviewed by the Governance Committee.
If the proposed transaction is required to be approved by a majority of the disinterested members of the Board of Trustees in accordance with the Companys declaration of trust or Corporate Governance Guidelines, the Governance Committee makes a recommendation regarding the proposed transaction and the disinterested trustees determine whether it is appropriate and advisable for the Company to engage in the proposed transaction. If the transaction involves a trustee, that trustee does not participate in the action regarding whether to approve or ratify the transaction. If the proposed transaction is not required to be approved by a majority of the disinterested members of the Board of Trustees, the Governance Committee has the final authority to approve or disapprove the proposed transaction.
The following information summarizes our significant transactions with related parties.
This excerpt taken from the KRG 10-K filed Mar 31, 2005.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
The information required by this Item is hereby incorporated by reference to the material appearing in our Proxy Statement, under the caption Certain Relationships and Related Transactions.