EAD Renewal Questions

Hi,

My husband is currently in L1B and I am in L2 visa. I am working with EAD. Our visa and EAD expires in July'2013.
Meanwhile we have applied for L1B to L1A transfer, which might take upto 90 days time. In worst case we will get our extended visa only by May end.
My questions are as follows:
1> If I apply for EAD extension in May ,it will take say 90 days which will be august. What will happen to my job during July to August? Will i be able to continue my job or I have to quit? Is there any way to shorten the EAD processing timing based on Infopass?

2> While my L2 visa extension is being processed can I apply for H1B at the same time?

Thanks in advance.