You don't have to apply for a fresh EAD unless you have worked on EAD and/or traveled on AP.
Having an EAD and working on EAD are two separate issues. Having an EAD does not invalidate the valid H1.
Con: Waste of money if one is working on a valid H1 and expects job to be secure till GC approval.
Pro: More flexibility and leverage if one loses a job and needs to get into another job ASAP without sponsorship hassle.
I had H1B until Jan 2003. I also had EAD until Feb 2003. Ofcourse I got it renewed lately. EAD does not require you to work 40 hours a week also. I would just apply it.
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