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Employment and Consulting Agreements | 12 Months Ended
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Sep. 30, 2021
Employment and Consulting Agreements [Abstract] |
EMPLOYMENT AND CONSULTING AGREEMENTS | 8. EMPLOYMENT AND CONSULTING AGREEMENTS Employment Agreements On October 19, 2017, the Company and its Chairman of the Board, Leonard Mazur, entered into an employment agreement with a three-year term. Upon expiration, the agreement automatically renews for successive periods of one-year unless terminated pursuant to its terms. Under the terms of the agreement, the Company is required to pay base compensation plus incentives over the employment term plus severance benefits upon the occurrence of certain events as described in the agreement. On March 30, 2016, the Company entered into a three-year employment agreement with Myron Holubiak to serve as Chief Executive Officer. Upon expiration, the agreement automatically renews for successive periods of one-year unless terminated pursuant to its terms. The agreement requires the Company to pay base compensation plus incentives over the employment term plus severance benefits upon the occurrence of certain events as described in the agreement. On July 13, 2020, Citius entered into an employment agreement with Myron Czuczman, M.D. to serve as Executive Vice President, Chief Medical Officer. The agreement requires the Company to pay base compensation plus incentives over the employment term plus severance benefits upon the occurrence of certain events as described in the agreement. Dr. Czuczman was granted an option to purchase 500,000 shares of common stock. The Company has employment agreements with certain other employees that require the Company to pay base compensation plus incentives over the employment term plus severance benefits upon the occurrence of certain events as described in the agreement. Consulting Agreements Effective September 1, 2014, the Company entered into three consulting agreements. Two of the agreements were for financial services including accounting, preparation of financial statements and filings with the SEC. The third agreement was for financing activities, product development strategies and corporate development. The agreements may be terminated by the Company or the consultant with 90 days written notice. A consulting agreement for financial services ended in February 2019 and the agreement for financing activities, product development strategies and corporate development ended in December 2020. Consulting expense under the agreements for the years ended September 30, 2021 and 2020 was $144,000 and $324,000, respectively.

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