Employment termination when H1B is pending

[salonis29]

Hello. I am currently on F1 Visa and work with an employer who has filed an H1B application for me. In the first lottery, my application wasn't selected but I am hoping that this year there will be another lottery. My F1 Visa expires in the first week of July, till when can I continue my employment? If my employer terminates my employment before the second lottery results come in, what happens to my H1B application? If my employer terminates my employment before the second lottery results and I go back to my home country, and then later in the second lottery my application is selected, what happens then? Can I come back and find another employer?

Thanks!