You might be looking at sharangovich + holtz + a first/second similar in structure to the Pacioretty trade all those years ago. The retention aspect is in my opinion a non-factor because the Sharks have enough cap space and its an expiring contract so don't expect that to be a real advantage in trade talks.

I do like option 3 given the Sharks are getting quality prospects at D AND FW.

My ideal is Holtz + Mukh + 2024 First (upgrades to 2023 First if NJ advances past the first round of the 2023 playoffs AND Timo scores 3+ goals in the playoffs)
That way it guarantees that the 2023 First that NJ is giving up isn't like 18th overall. At minimum it would be 25th (if my math is correct)

There is no need to Give up Holtz though so why do it. He's a potential 30-35+ goal scorer with 4 years+ of development left and still on a rookie contract. Not to mention the team's only real forward prospect. Hold onto him and move Muk since we have way too many D prospects or Shango who can frankly use more ice time elsewhere.

I'd counter with Holtz + Mukh + 2nd that becomes a 1st if the devils make the stanley cup finals this year, or an additional 2nd round pick if the devils win a cup in the next 3 years

The money saved can be used to absorb a cap dump in another trade while accumulating assets so the retention is certainly worth something

I was thinking about that but even if they have to retain half of the salary in another deal, that would still leave them 5 million for a cap dump and it is unlikely there will be a move this TDL for a cap dump worth more than 5 especially because those moves are pretty rare at the deadline unless we're talking about retaining in a three team deal in which case they have more than enough to do that with 5 (especially if they make another move like Barabanov which would clear slightly more space). My main point is that the Sharks are incredibly unlikely to reject a better deal just because your deal gives them slightly more cap to make some hypothetical cap dump move that is unlikely to happen. It doesn't move the needle in a trade given their cap situation and so really for practical purposes its a non-factor.