Your employer can file a visa petition to extend and change your status to L-1A if you have had at least six months managerial responsibilities and will continue to work in such capacity. The petition can be filed up to 6 months prior to the expiration of your current I-94. If you do not qualify for L-1A status in order to continue working for two more years, you will have to leave the US for one year in order to be eligible for a new L term.
Your employer should file before you I-94 expires.
Your employer needs to retain an experienced immigration lawyer, whether myself or one of my colleagues, to review all the facts, advise them, and handle the case.
J Charles Ferrari Eng & Nishimura 213.622.2255 The statement above is general in nature and does not constitute legal advice, as not all the facts are known. You should retain an attorney to review all the facts specific to your case in order to receive advise specific to your case. The statement above does not create an attorney/client relationship. Answers on Avvo can only be general ones, as specific answers would require knowledge of all the facts. As such, they may or may not apply to the question.