  We determine the spin exchange coupling J between two electrons located in
two vertically tunnel-coupled quantum dots, and its variation when magnetic (B)
and electric (E) fields (both in-plane and perpendicular) are applied. We
predict a strong decrease of J as the in-plane B field is increased, mainly due
to orbital compression. Combined with the Zeeman splitting, this leads to a
singlet-triplet crossing, which can be observed as a pronounced jump in the
magnetization at in-plane fields of a few Tesla, and perpendicular fields of
the order of 10 Tesla for typical self-assembled dots. We use harmonic
potentials to model the confining of electrons, and calculate the exchange J
using the Heitler-London and Hund-Mulliken technique, including the long-range
Coulomb interaction. With our results we provide experimental criteria for the
distinction of singlet and triplet states and therefore for microscopic spin
measurements. In the case where dots of different sizes are coupled, we present
a simple method to switch on and off the spin coupling with exponential
sensitivity using an in-plane electric field. Switching the spin coupling is
essential for quantum computation using electronic spins as qubits.
