L1 Status - Active H1 without COS - Want to switch jobs.

[adityapar]

Hi,

I have been with Company A with L1A Visa for 3 years. Last year (March 2012) Company A filed for H1B and got approved starting October 2012. I received I-797B (H1B approval notice without COS). I am still on L1A Visa. My L1A is expiring this May and Company A has filed an amendment to convert my Status from L1A to H1B.

My Wife's (currently on L2) I-94 is expiring on 2 days after my L1A is expired. My I-94 is expiring in Jan-2015

Lawyer said to me that once H1B amendment is processed, me and my wife will receive new I-94.

Questions:

1) What will happen if H1B amendment doesn't happen before L1A expires? Do I have to move out of country after L1A expires? Can I stay within US for certain amount of time.

2) What happens to my Wife's status if I donot receive H1B before my wife, I-94 is expired? Does she has to go out of country? since her I-94 is expired as well.

3) I have received new offer from Company B. They are saying, they can transfer H1B, but i feel its risky to switch jobs with L1 as Status and its ILLEGAL as well.

Please advice ...