Will my H1B max-out clock be reset if I stayed Out-of-USA for 2 years?

My understanding is that the a  clock reset needs two conditions,  1) you must be out of US for more than one year and file a new petition in new cap. (Since it sounds like  you re-entered on an old petition/cap, based off of your question, the clock would not reset. ) 2)In order to stay beyond six years H1 physical presence in US one needs to either a. Have PERM filed at least 365 days prior to 6th Year completion (this would enable filing H1 extension for 1 Year). OR b. Have I140 approved by the time 6th Year completes (this would enable filing H1 extension for 3 Years). It does not sound like you qualify for 2.a. above, therefore your hope is 2.b.  If there is audit it can take 1+ Year for I140 approval. Either way, I highly reccomend have a consultation with an experienced Immigration Attorney, like my partner, Amy Morilla. Please contact her at our offices if you need further assistance. 203.870.6700