Wont work, the 3g cdma iphones need to be activated using *228 each time you need to activate. this will then deactivate your 4g sim, because the system will switch you back to a 3g phone. it'll force you to get a new sim card when you want to go back to the iphone 5.
the sim card in the 4s does not do the same thing it does in the 4g LTE phones (which allows you to switch phones just like gsm sim cards) its just an international roaming sim.