H1 Transfer with valid H1 and I 94 till May 2017

Hi

I am working for employer A, I got a better opportunity with employer B. My h1 and I-94 are valid till May 2017.

If my new employer files H1 transfer do I get I 94 as I have a valid one or there may be chances for not getting I 94 and I have to travel out of US and re enter?

In case if I start working for my new employer after getting the receipt number and before getting approval for my transfer and later in the process if I dont get I 94 and I have to travel out of US then what happens to my H1 with old employer A, can I continue with him or its better to wait until I get the h1 transfer approval and I 94.

Could you please let me know what are the other risks associated with H1 transfer.

Thanks.

If there isnt an issue with your status, usually you will get a new I-94. Like you said, if you dont you will have to go out and come back. You can start working on the receipt number. Depends on how confident you are. However it is advisable to wait until the approval. Premium is started again so it should be pretty quick.