Hey Cosmotheassman,
Funny you should post this question. The other day I ws speaking with an EJM pilot about the very same issue. He has been with EJM for 13 or 15 years all with various owners.
Each time an owner sells the plane or one way or another moves on he is indeed out of work. EJM makes no effort to find him another job. The odd part is he has been with them, consistently employed for all that time. Each time an owner mover on EJM finds another AC and bases it in his area. So officially they do not find him another job but unofficialy it seems to work out.
Hope this helps. Also, he makes a butload more than any NJA guy with the same schedule and benefits. Actually better benefits because its FFM.