H1 extension with two employers at same time

Hi, My H1b got expired in 2010 and my employer(who sponsored for expired H1) is applied to extend the same. At the same time another employer gave me offer and he said he will extend and transfer the same H1B. Can any one clarify me that, is there be any problem if H1 is filed for extension by 2 employers at a time? Thanks in advance.

No, there is no issue. Different employers can file H1B petitions for one individual.