This is very common need for many organizations, need to have additional domain configured in Exchange.
Here are some of the example scenarios.
So let's figure out the steps require to configure Exchange Server to accept e-mail for more than one SMTP domain.
For example I have a base Active Directory internal domain ExchangeShare.net and I would like to add email address of ExchangeShare.info domain for external communication for all recipients of Exchange organization, similar to scenarios 1 explained earlier.
All SMTP domain which we are configuring to receive emails, requires to have an MX record to receive e-mail from the Internet and it should be pointing to Internet-facing server, which could be...
So I need to have MX record for ExchangeShare.info in public DNS to point my Hub Transport server which is configured to send and receive email directly from internet in my organization as per my organization configuration.
Accepted Domain: Accepted domains can be any SMTP domain namespace and an Exchange organization is authoritative to sends and receives emails for the recipients which are in same Exchange organization or may be just Exchange relays to any other email server for delivery which could be outside of AD forest.
Permission: Account must be member of Exchange Organization Administrator role to create Accepted Domain.
Create Accepted domain:

Note: The accepted domain will automatically populate the e-mail address to the policy editor in our next step.
We can also use the New-AcceptedDomain [1] Powershell cmdlet to create an authoritative accepted domain entry for SMTP domain.
For example, run the following command to create an authoritative domain called ExchangeShare.info.
New-AcceptedDomain -Name "ExchangeShare.info" -DomainName ExchangeShare.info -DomainType Authoritative

1. Configure Email Address Policy to assign email address of additional SMTP domain to all the recipients.
When organization needs to add an SMTP address for all the recipient (as per our example scenarios 1 & 2) we can change the default email address policy directly.
To change the primary (reply to) e-mail address assigned to recipients, and keep the existing e-mail address as a secondary e-mail address, follow these steps:



We can also use the Set-EmailAddressPolicy [2] cmdlet in powershell to modify an existing e-mail address policy.
For example, run below cmdlet to change the reply to address to @ExchangeShare.info and continue to use @ExchangeShare.net as a secondary address.
Set-EmailAddressPolicy -Identity "Default Policy" -EnabledEmailAddressTemplates 'SMTP:%g.%s@ExchangeShare.info','smtp:@ExchangeShare.net'
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To apply the new e-mail address policy to recipients, run the following command.
Update-EmailAddressPolicy -Identity "Default Policy"

2. Configure Email Address Policy to assign email address of additional SMTP domain to some of the recipients.
For example I would like to have some of the mailboxes with MessagingTalk.org email address for external communication as explained in scenarios 3 & 4 earlier.
To create additional e-mail addresses that will be used as the primary e-mail address for a filtered set of recipients, follow these steps:



Recipient Policy Precedence: If a recipient meets the filter conditions of more than one e-mail address policy, the e-mail address policy that has the lowest number is set as the primary address.
We can use powershell cmdlet New-EmailAddressPolicy [3] to create e-mail addresses. For Example, create a new policy that will apply to the recipients who have an AD attribute called Company populated with the value "MessagingTalk" and have the primary e-mail address of MessagingTalk.org and ExchangeShare.info as secondary and set the highest priority for this e-mail address policy. Run below cmdlet.
New-EmailAddressPolicy -Name "MessagingTalk" -IncludedRecipients AllRecipients -ConditionalCompnay "MessagingTalk" -Priority 1 -EnabledEmailAddressTemplates 'SMTP:%g.%s@MessagingTalk.org','smtp:%g.%s@ExchangeShare.info'

We can use -RecipientFilter [4] parameter to filter recipient efficiently in Powerhsell with New-EmailAddressPolicy.
To apply the new e-mail address policy to recipients, run the following command.
Update-EmailAddressPolicy -Identity "MessagingTalk"
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"I am a Messaging Specialist and primarily work for Exchange Server Design, Deployment and Support. I have more than 6 years of experience in IT industry and currently working for Wipro Technologies [8] in TIS [9] division at Bangalore, India.
I have been awarded Microsoft Most Valuable Professional [MVP [10]] in Exchange Server technology. I am also a Microsoft Certified Professional in MCITP, MCTS, MCSA and MCP.
My domain of interest and expertise include various technologies like Exchange Server, Active Directory & Windows Server. I am a greedy blogger and regularly write prominent articles on AD & Exchange."
Links:
[1] http://technet.microsoft.com/en-us/library/aa995975.aspx
[2] http://technet.microsoft.com/en-us/library/bb124517.aspx
[3] http://technet.microsoft.com/en-us/library/aa996800.aspx
[4] http://technet.microsoft.com/en-us/library/bb232194.aspx
[5] http://www.digwin.com/post?title=Configuring Exchange 2007 to Accept Email for Additional Domain&link=http://www.messagingtalk.org/configuring-exchange-2007-accept-email-additional-domain
[6] http://www.messagingtalk.org/print/1369
[7] http://www.messagingtalk.org/forward?path=node/1369
[8] http://www.wipro.com/
[9] http://www.wipro.com/tis/index.htm
[10] https://mvp.support.microsoft.com/profile/Amit.Tank