Change of Job While H1b Application is Pending

HI

I am currently employed full-time on my OPT and valid F1 visa. My present employer is keen on getting my H1B application
submitted for the upcoming H1B filing season and all is well :-)

However, turns out, I am about to receive an offer from another company, who is also willing to apply for my H1B this filing season !!

If everything goes well, I can do the change of job before my present employer applies for my H1B and that way, there is no problem.

Say for some reason, offer from the other company is delayed and meanwhile, my present employer submits my H1B application, Here is my question:

Can I change my job and apply for another H1B petition from my new employer (obviously, I would request my present employer to cancel
the original petition) But, is it possible to do this and if yes, any procedure / brief details ?

Thank you in advance for the replies. I really appreciate.

Regards,
PRA1984

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By the way, I forgot to add, both companies I have mentioned above are in my exact field of study and the job profiles are commensurate
with my degree level and standards. And, I understand from my school immigration staff that it is perfectly fine to change
jobs while on OPT as long as I report to them and the jobs are directly related to my field of study. Only need clarification regarding
this H1b thing... thanks.

You can have more than one H1B petition pending at the same time. There is no need to cancel a petition, although obviously it's good manners to inform your prospective employer that you will no longer be taking the first job.