Questions about EAD renewal (AOS)

I have two questions:

1. My current EAD (based on pending I485) expires soon. If I let it expire with gap and later apply for it again (still have H1B in the meantime).

On the I-765 form, which one should I check?
- "Permission to accept employment"
- "Renewal of my permission to accept employment"

2. Can I submit H1B renewal and EAD renewal in roughly the same period of time? (both expire in the same month, EAD is slightly earlier) If I do so, am I still on H1B?

Thanks.