I'm documenting a solution for display shared calendars (for example your boss's calendar) on an iphone/Droid. I tried this via two Office365 accounts (on two different domains), and it worked well.
Links to explain the process:
In essence, you share your boss's Exchange calendar as an iCal calendar (this does require a publishing process via right clicking on the calnendar and choose Share -> Publish this calendar). In my tests, a web link to an .ICS files was created. Send to the employee and the iphone (in my tests) will properly interpret the link as a shared calendar and add it as a calendar in calendars.