Occupational shoulder exoskeletons can relieve workers during strenuous overhead work. Passive solutions are lightweight, robust, and cost-effective, but they can also restrict user movement, have limited support, and cannot dynamically adapt to different working conditions. Semi-active and active systems are still mostly the subject of research, and existing systems are heavy or have limited performance and support. Here, we present a lightweight semi-active exoskeleton for shoulder support that incorporates a novel motorized torque adjustment mechanism that varies the effective lever arm with which a spring applies force to the supporting joint. The mechanism is integrated into lateral structures and can be actuated via Bowden cables with motors located on the user’s back. The technical performance of the system was experimentally characterized in terms of its dynamic support torque profiles at six different support levels. Furthermore, adjustment times and energy consumption were investigated. The system showed plateau-like support torque profiles in the intended working range and could be adjusted from nearly 0 Nm up to 12 Nm of maximum support per arm. Adjustment times varied between 0.5 s for the adjustment of 20% of the total adjustment range and 1.0 s for a full activation/deactivation. Adjustments consumed between 0.1 As and 1.9 As of battery charge, allowing long operating times of up to one working day, using only a small 2 Ah battery. As a result, the exoskeleton provides high performance by combining comparatively high support, rapid motorized support adjustment, and low energy consumption in a lightweight design.