I currently am employed by a University and hold a cap-exempt H1B visa . This type of H1B visa is non-transferable to a cap-subject one.
I found an employer who was willing to file a cap-subject H1B visa and went ahead with the filing on April 1st 2013 . I got through and my employment starts from October 1st
Now , my current cap-exempt H1B visa is valid through 2016. Come October 1st , will my current cap-exempt visa automatically be cancelled or invalidated since I will be starting with a cap-subject H1B visa from october 1st?