Adding User Role

<?php
function pre_manage_custom_user_roles() {

    /**
     * New Role: Company
     * ...
     */
    $company_capabilities = array(
            'read'                      => true,
            'read_cpts'                 => true,
            'edit_cpts'                 => true,
            'delete_cpts'               => true,
            'upload_files'              => true,

            'assign_cpt_types'          => true, //custom taxonomy 'cpt_types'
            'assign_cpt_categories'     => true, //custom taxonomy 'cpt_categories'

            'read_companies'            => true,
            'edit_companies'            => true,
        );

    add_role(
            'company',
            __('Company', 'textdomain'),
            $company_capabilities
        );

    /**
     * Assign all the new caps to Default roles
     * ...
     */
    $admin_custom_capabilities = array(
            'read'                      => true,
            'read_cpts'                 => true,
            'edit_cpts'                 => true,
            'delete_cpts'               => true,
            'delete_published_cpts'     => true,
            'edit_published_cpts'       => true,
            'publish_cpts'              => true,
            'upload_files'              => true,

            //CPT Types
            'manage_cpt_types'          => true,
            'edit_cpt_types'            => true,
            'delete_cpt_types'          => true,
            'assign_cpt_types'          => true,

            //CPT Categories
            'manage_cpt_categories'     => true,
            'edit_cpt_categories'       => true,
            'delete_cpt_categories'     => true,
            'assign_cpt_categories'     => true,

            //Companies
            'read_companies'            => true,
            'edit_companies'            => true,
            'edit_published_companies'  => true,
            'delete_companies'          => true,
            'delete_published_companies'=> true,
            'publish_companies'         => true,

            //Priviledges over others
            'edit_others_cpts'          => true,
            'edit_others_companies'     => true
        );

    //Assigning all the custom user-capabilities to the Upper level users, except 'author'
    $default_roles = array( 'administrator', 'editor' );
    foreach ( $default_roles as $default_role ) {
        $role = get_role( $default_role );

        if( is_null( $role ) )
            continue;

        foreach ( $admin_custom_capabilities as $company_capability => $enabled ) {
            if( $enabled ) {
                $role->add_cap( $company_capability );
            }
        }
    }

    unset( $role );

    /**
     * Editors: Let them manage users, but not Administrators
     * @author  Isabel Castillo
     * @link http://isabelcastillo.com/editor-role-manage-users-wordpress
     * ...
     */
    if ( get_option( 'pre_editor_can_manage_users' ) != 'true' ) {
        $edit_editor = get_role('editor'); // Get the user role

            $edit_editor->add_cap('edit_users');
            $edit_editor->add_cap('list_users');
            $edit_editor->add_cap('promote_users');
            $edit_editor->add_cap('create_users');
            $edit_editor->add_cap('add_users');
            $edit_editor->add_cap('delete_users');

        //Just to stop duplicate occurances
        update_option( 'pre_editor_can_manage_users', 'true' );
    }

    //For debugging purpose only
    //remove_role( 'company' );
}
add_action( 'after_switch_theme', 'pre_manage_custom_user_roles' );