H1B | Severance | Grace Period


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My company is in the process of executing a severance agreement with Termination Date as Mar 31st. Currently, I have my H-1B extended for 3 years until 2021 based on approved I-140.

Do I get 60 day grace period or how long is the Grace Period, so I can find another job within this Period ?

Does the New H1B for the New Job needs to be lottery based or it will be just a regular extension petition ?

Please let me know. Thank you.


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