Apply for H4 now OR wait to get new H1B before grace period?


bsri2017

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Current Status - H1B status valid till Aug 2020; Terminated on June 07, 2017; employer will notify USCIS July 07, 2017.
I140 Status - Approved from a previous employer; Priority Date: July 2009
Wife's status: Currently on H1B valid till Oct 2019; has an approved I140 from current employer.

Am I eligible for the 60-day grace period? I am applying for jobs, but I don't have anything concrete yet. If a new H1B is not filed for me by 50th day after my termination date, should I apply for an H4, OR should I just apply for my H4 now itself, just be on the safe side. Also, am I eligible to apply for an H4 EAD?
 

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