We report a novel three-contacts vertical-cavity surface-emitting laser (VCSEL) for use in polarization-sensitive optical applications. The device consists in two vertical optically active cavities, coupled by a common min-or. We demonstrate that one can independently choose both the power - through the Current in the first cavity - and the polarization state of the output beam - through the bias applied to the second cavity. The control of the polarization state is performed with a control of voltage required in the range -2V to 0V. Within this interval the structure exhibits bistable behaviour.