Need Help with L1B visa

[AnandhiNatarajan]

I have a question on my New L1B Visa, can you please help?

New Visa: L1B
Issue date: 09 nov 2015
Expiry date : 05 nov 2018
PED : 08 DEC 2016.

Previous Visa: L1B
i was in united states in my first l1b in the below period,
04-12-2010 to 24-10-2011
18-02-212 to 14-02-2015
Total of 3.9 years

I heard that a person can stay upto 5 years in US after that he has to stay 1 year offshore period. So that 5 year cycle will reset.

Question:
1. Will the 5 year cycle reset if my stay in US for 4 years and 1 year stay in offshore?
2. If yes for point 1. Then during my next travel will i get the i-94 date for 3 years ( as per my visa expiry date) or will i get i-94 only for 1 year( as per PED date)

Note: I did not complete 5 years of stay on my 1st L1B and the second L1B was applied before my 1 year of offshore stay completed.

Kindly help