Can you tell me what is the procedure and how long does it takes for final verdict.
Depends on the negotiations made by your attorney and the prosecutor and store. Normally on your 1st appearance, if you have an attorney, you should plead not-guilty, and in the next hearing, your attorney will come up with a proposal for lesser charges/dismissal of charges/diversion etc. If the prosecutor and store agrees to your proposals, the verdict will be reached on this hearing. This can typically take 4-5 weeks.(some cases, it is longer maybe).

Should I assume that this is on my records now even if court have not reached a verdict?
Unless there is a diversion or dismissal, this will be on your records.

i am in the process of H1 transfer and new employer will be doing security and background check? do you think it will be a problem in that case as well?
if you are convicted(whatever charge that be), this will remain in your records for 5 years until you are elligible for expungement.

As you knwo my court appearance is on tuesday. What do you suggest me to do? and you mentioned your attorney was able to negotiate charges with other party can you provide more details how did it took place?
You should consult and take help of a good defense attorney who can fight your case for lesser charges if possible.

Also what is the possibility in this case? e.g? fine/cummunity service/imprisonment?
As mentioned depends on how good your defense lawyer is and how the prosecutor agrees. Imprisonment for a 1st time offense is very very rare.

This is with all my knowledge, and I might be slightly wrong in a few places. Aaron/Panther, please correct me wherever I am wrong