Edit: A swap of two cleared players makes the most sense to me. Or a player about to be cut by another team. The reason I say that is it would just be contract swapping (contract numbers being equal for both sides)
I was thinking of a swap of cleared players as well...
I'll throw out this scenario and use Toronto since Cobourne has a good chance of being waived. Maybe the Leafs are going to send Cobourne down but know he's going to be waived... so they conduct a trade with the Oilers as follows
Cobourne to Edmonton for Jones (retained 575k salary) + a late pick like a 4th/5th rounder
since 1) Oilers then get Cobourne if they plan to do a waiver claim (or whoever is being sent down, Cobourne is the example)
2) For the Leafs, they don't add any salary, the 575k NHL salary is retained by the Oilers (not sure what the CBA has about this), they pick up a late pick which they could use + they get Jones on the Marlies and can call him up if they need help later, on a much more reasonable contract.
-Actually Jones at the 925k salary, could get some interest from a lot of teams, since that is a reasonable salary for a 4th liner