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EAD/I-485 question

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  • EAD/I-485 question

    Hi,
    Could someone please answer this for me:

    I am on 7th year H1 extension. It is going to expire in another 3 months.
    1) I-140 was approved in May 07.
    2) I-485 was filed recently in Sep 07.
    3) Received my EAD card.

    What happens to my status if my current employer lays off me?
    Can i continue working for another company using my EAD, and renew it anually till i receive my GC?
    can i file for H1 transer?

    Thanks,
    gc.

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