H1b Externsion -I94 expired-RFE-change of status to F1

[Cr8979]

Sep 13th 2016 : Company-A I-94 expired.
May 13th,2016 : Company-B H1B Extension file.
Aug 15th,2016 : RFE
Sep 27th,2016 : RFE Respond
Oct 17th,2016 : Second RFE
Till date: : 2nd RFE Not submit yet(But I am going to)

If H1b Denied ,

1.Am I Eligible for 60 days grace period bcaz my i94 is expired(Sep 13,2016) (rules apply from 17th January,2017)?
2.can I change employer?
3.If my H1b is Denied how long I can stay if, I am apply for COS?
4.Right now can I apply for H1b to F1 (Change of Status).

Any other option.