Upon Visa extension abroad, do I need to apply for revised I94?

It would be of great help if someone can please advise on the below:

  1. Our L1 & L2 visa’s have been approved on 08 AUG, 2012. Upon visa approval do we need to apply for revised I-94 document indicating the extended time period of stay or does the USCIS automatically send them across as part of their standard process ?

  2. And, second question, can I go ahead and apply for Employment authorization (EAD) without valid I-94 ( My last I-94 expired in the month of May 2012)

Sincere thanks in advance for your efforts.