My H1b and i94 expired, on feb 5, 2020.

And h1b extension in process, applied on Jan 9, 2020.

Employer wants to withdraw extension since my project is completed on Mar 20, 2020.

Now employer will terminate me on Apr 3, 2020.

fyi.. I have valid I-140.

question:
will I be out of status immediately from Apr 3, 2020?
Am I eligible for 60 days grace period for finding another job/employer who can do H1b transfer ?