Help with H1B Cap Exempt Visa

[subbu.rajendran]

Hello,
This is Subbu. I entered USA with L1B visa, now my visa has expired but I have received I-94 valid till Oct 2015. I have a few questions regarding the procedure to apply for H1B Cap Exempt visa.

Here are my details on the visa and prior stay in USA. All visas sponsored by the same employer (Say A).

H1B
Work permit valid From: 01-Oct-2004 To: 26-Jan-2007
Stamped Valid From: 03-Jan-2005 To: 26-Jan-2007
Stay in US - 17 months

H1X
Work permit valid From: 27-Jan-2007 To: 30-Apr-2009
Visa Stamped Valid From: 10-Sep-2007 To: 30-May-2009
Stay in US - Did not travel

L1B
Work permit valid From: 12-Jan-2010 To: 11-Jan-2013
Visa Stamped Valid From: 22-Feb-2010 To: 11-Jan-2013
I-94 Valid From: 26-Oct-2012 To: 25-Oct-2015
Stay in US - From: 21-Mar-2010 To: 21-Jan-2012 (22 months)
Stay in US - From: 26-Oct-2012 To: till date (4 months)

My Questions:
1. Am I eligible to apply for H1B Cap Exempt visa?
2. Will I be able to apply for H1B Cap Exempt visa from USA? Can I continue to stay legally on valid I-94 status during the H1B Cap Exempt processing?
3. If I am eligible, I should get approximately 29 months on the revived work permit (6 years - Years I stayed in H1B + L1B). Is my calculation correct?
4. Say the H1B Cap Exempt visa is approved. Does my legal status change automatically on approval from current I-94 to H1B?
5. Can Employer B sponsor my H1B Cap Exempt visa? Do I need to have in hand any original work permit documents for this?

Thanks & Regards,
Subbu