Foster and Jackson for PJ Brown, Arvydas Macijauskas, and the Nawlins first-rounder. Biggest downside is that I don't think I could handle the influx of Euroball fans. Would be a decent move on the court for both teams, though.
Hornets get a starting center that's younger than their current one, and a starting SG that's older than their current one. We get a decent PF/C to play with Jermaine for a year (dude's ancient already, but he's got at least a year left in him) and mentor the Hulk. Assuming Fred leaves, we get a shooter that should be able to handle time at the backup 2. And we get the #12 pick in the draft.
p.s. If Nawlins wanted to throw the midlevel at him, this would work using Freddy instead of Jax.