Got laid off on H1b visa with pending H1b extension, but I94 expiring in 2 weeks

[browserspot]

I recently got laid off on H1b visa. The termination date is November 1, but the company will continue regular payroll until 31st December, as a part of the severance package. There is a pending H1b petition in regular processing (received the notice), but my I94 from previous I797 is expiring in 2 weeks? Should I submit a B2 change of status before the I94 expires (in 2 weeks), even though I am still on a regular payroll until December 31st? Or should I wait till I am closer to December 31st since I already have a pending H1b extension?

Edited November 4 by browserspot

[Attorney_20]

In this case, there is no 60 day grace period since your I94 is expiring in less than 60 days. You should file the change to B2 before your current I94 expires. If the pay you receive after that is for severance only, you should still be able to collect that money (since it is not for actual work) while you are on the pending B2. You should make sure that the pay record clearly indicates that the pay is severance and not for employment.