There are a variety of contracts in the NBA, ranging from guaranteed to ten-day contracts. Fans will be curious to know the workings behind an Exhibit 10 contract, and in this article, we will divulge all the information regarding this NBA contract.
Explaining the workings of an Exhibit 10 contract in the NBA
An Exhibit 10 contract is a one-year, minimum salary NBA contract. The deal has a particular Exhibit 10 attached to it and no bonuses come along with it. This attachment is included in the contract after both the sides (team and the player) have agreed to it.
An Exhibit 10 contract gives a franchise the flexibility to convert it into a two-way deal, but the team has to ensure that it happens before the commencement of the regular season. Exhibit 10 deals are usually non-guaranteed, which means the team can waive the player and get the cap hit off their payroll.
If a player is on an Exhibit 10 contract with a particular team, it would allow him to participate in that franchise's training camp. The team will control that player's G League rights, and he is eligible to get $50,000 if he manages to spend 60+ days with the G-League affiliate. Signing a basketball athlete to an Exhibit 10 contract works out well for NBA teams, who hold the option to cut them or include them in the roster if they play well.
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The Miami Heat did something like that last offseason when they signed Max Strus to a two-way contract after he impressed in training and then in the limited minutes he got. The New York Knicks also did something similar with Michael Kidd-Gilchrist some time back.
An Exhibit 10 contract also works out well for a player trying to get into the NBA. This kind of deal gives him a chance to impress the franchise and become a part of the roster. NBA is a tough league to be a part of considering the roster size of teams and talent depth the game of basketball possesses, and an Exhibit 10 contract offers athletes a very lucrative option to prove their worth.
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