Apple has a 14 day return policy and 10% restock fee if the box is open. I would tell him to wipe all info and get the phone in as close to new condition as possible, put it back in the box with all the doodads, and go to an Apple Store.
He might very well get the restock fee waved since the new phone was officially announced. Tell him to wear his corporate ID on his shirt and ask nicely. The Apple Staff seems to have a lot of leeway when dealing with stuff like this. They do want to make sure everyone is happy with their purchase. The supervisors have the most leeway. Work up the food chain a bit.
 Since the new phone is not in the store yet a swap cannot happen. Neither can an Apple employee take the old phone to start the swap. Once an amicable plan is established you then take the old phone home again until the new phone arrives even if that is more than 14 days. One has to keep a record of the conversations though. All you have to do is start the conversation before the 14 days expired that you want to swap.
If the plan is that a restock fee is necessary but then the new phone takes weeks to arrive you can swap that delay for removing the restock fee. The Apple employee will likely throw that in with no prodding. (I wasn't prodding when it happened to me.)
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