Usually, when there's an agreement for the original management to stay-on for a brief period, it's because there really was a "Sale". If there was going to be a long-term relationship, then the contract for continuing services would usually be longer.

I'm just curious about what the general parameters were in this case.

There are a number of marine related businesses that are under extreme pressure now. A few are doing well, more are hanging in there -- but a lot are just hanging on by the skin of their teeth.