Hoops Rumors Glossary: Exhibit 10 Contract
After the NBA’s biggest-name free agents come off the board, many teams shift their focus to filling out their training camp rosters. Teams can only carry 15 players on NBA contracts (plus three on two-way deals) during the regular season, but their maximum roster size increases to 21 players in the offseason, allowing clubs to bring a few extra players to camp to audition for a place on the regular season roster or a spot on the team’s G League affiliate.
Many of those players will sign a contract with an Exhibit 10 clause. Introduced in the NBA’s 2017 Collective Bargaining Agreement, Exhibit 10 contracts are one-year deals worth the minimum salary. They don’t come with any compensation protection, but can include an optional bonus worth as little as $5K and – in 2025/26 – as much as $85,300.
Let’s say an undrafted rookie signs an Exhibit 10 contract with the Sixers that includes a $85,300 bonus. He attends camp with the Sixers, but is waived before the regular season begins, with Philadelphia designating him an affiliate player in order to retain his G League rights. In that scenario, if the rookie elects to play in the G League for the Delaware Blue Coats and remains with the club for 60 days, he’d be entitled to his full $85,300 bonus.
The player wouldn’t receive that bonus if he opts to sign with a team overseas after being waived by the Sixers. Essentially, the Exhibit 10 bonus serves as an incentive for players to stick with their team’s G League affiliate — they must spend at least 60 days with the NBAGL club in order to get their bonus.
There’s another scenario in which that undrafted rookie who signs an Exhibit 10 deal with the Sixers would receive his $85,300. Exhibit 10 contracts can be converted into two-way contracts before the regular season begins, so if Philadelphia opted to do that, the $85,300 bonus would turn into a salary guarantee for the player. As soon as his contract becomes a two-way deal, he’s entitled to that bonus, even if the 76ers were to waive him a week later.
The maximum Exhibit 10 bonus will increase in future seasons at the same rate as the NBA salary cap. It began at $75,000 in 2023/24, and because the cap has risen since then by about 13.7%, the maximum Exhibit 10 bonus has increased by the same percentage, from $75,000 to $85,300.
The latest cap projection for 2026/27 is calling for a 7% increase. In that scenario, the maximum Exhibit 10 bonus would rise by another 7% too and would be worth $91,200.
Only teams with a G League affiliate can include an Exhibit 10 bonus in a contract, but that’s no longer an issue now that all 30 NBA clubs have an NBAGL affiliate of their own.
Exhibit 10 contracts don’t count against a team’s salary cap during the offseason. However, they would begin to count against the cap if a team decides to keep a player on an Exhibit 10 contract into the regular season, essentially converting his deal to a standard one-year, minimum-salary deal.
Although they’re not technically required to, virtually every Exhibit 10 contract also contains an Exhibit 9 clause, which provides a team protections when a player on a non-guaranteed training camp contract suffers an injury. If a team wants to sign a player to a deal that includes both an Exhibit 9 and Exhibit 10 clause, it must already be carrying at least 14 players on standard contracts.
Here are a few more notes relating to Exhibit 10 contracts:
- A team can’t carry more than six Exhibit 10 contracts at a time.
- An Exhibit 10 contract can only be converted to a two-way deal before the regular season begins. The deadline is the day before the regular season opener.
- An Exhibit 10 contract that gets converted to a two-way deal can subsequently be converted into a standard NBA contract.
- An Exhibit 10 bonus earned by a player who ends up in the G League or on a two-way contract isn’t counted toward the NBA team’s total salary.
Note: This is a Hoops Rumors Glossary entry. Our glossary posts will explain specific rules relating to trades, free agency, or other aspects of the NBA’s Collective Bargaining Agreement. Larry Coon’s Salary Cap FAQ was used in the creation of this post.
Earlier versions of this post were published in 2018, 2019, and 2023.
Southeast Notes: Knueppel, Bane, Christopher, Risacher, Johnson
After Cooper Flagg referred to his Thursday Summer League debut as “one of the worst games of my life,” his former Duke teammate Kon Knueppel conveyed a similar sentiment in the wake of a 1-of-8 performance from the field on Friday in his first Summer League game with the Hornets.
“Probably one of the worst games I’ve played in a while,” Knueppel said, per Rod Boone of The Charlotte Observer. “I just couldn’t get one to go. Didn’t feel great, especially missing free throws. But I thought I did a good job defensively, held my own. I’ve got to be a little smarter with the ball. A couple of bad turnovers but it’s good to get my feet underneath me a little bit and get ready for the next game.”
Although Knueppel struggled to score, Charlotte’s other rookies made a positive first impression. Liam McNeeley, in particular, had a huge debut in Vegas, registering a team-high 22 points, 12 rebounds, and six assists in 28 minutes off the bench to help lead the Hornets to a win over Utah.
Here’s more from around the Southeast:
- Appearing on ESPN Today on Friday (YouTube link), Magic head coach Jamahl Mosley spoke glowingly about new addition Desmond Bane, stating that it’s “fantastic” to have the veteran wing on his roster. “He was in the gym the other day with Franz (Wagner) and Anthony Black already,” Mosley said. “Just his work ethic, his character, his care factor, just (the) leadership that he brings to the table is going to be so special for us.”
- Former first-round pick Josh Christopher, who spent last season on a two-way contract with Miami, was a late addition to the Hawks‘ Summer League roster, tweets Lauren Williams of The Atlanta Journal-Constitution. The 6’4″ guard didn’t play at all on Friday in Atlanta’s first game in Vegas.
- During an ESPN interview at halftime of the Hawks‘ Friday game, general manager Onsi Saleh said the team “couldn’t be more happy” with the development of last year’s No. 1 overall pick Zaccharie Risacher, per Kevin Chouinard of Hawks.com (Twitter link). “He has gotten his body so right, especially given how young he is,” Saleh said. “… I saw him in the summertime and he looked like he put on some more weight.”
- There weren’t a ton of bright spots for the Wizards in their blowout loss to Phoenix on Friday, but the play of No. 6 overall pick Tre Johnson was one of them, writes Josh Robbins of The Athletic. Johnson scored 18 points on 7-of-13 shooting and earned praise from coach J.J. Outlaw and his teammates for his Summer League debut. “He played aggressive. He played with a lot of confidence, which was expected,” second-year forward Kyshawn George said. “It was his first game, his first start. He’s only going to get better from here.”
Jordan McLaughlin Re-Signs With Spurs
July 12: McLaughlin has officially re-signed with the Spurs, the team announced today in a press release.
July 9: Jordan McLaughlin will return to the Spurs on a one-year, $3MM contract, sources tell Shams Charania of ESPN (Twitter link).
It will likely be a veteran’s minimum deal for McLaughlin, whose minimum salary this season based on his six years of NBA service would be $2,874,436.
The 29-year-old point guard was acquired from Sacramento in February as part of the De’Aaron Fox deal. He saw limited playing time in 18 games after the trade, averaging 2.5 points and 1.5 assists in 6.9 minutes per night with .536/.450/1.000 shooting numbers.
McLaughlin spent his first five NBA seasons with Minnesota after signing a two-way contract in the summer of 2019. He moved on to the Kings as a free agent last July, but didn’t see consistent playing time with them either before being traded.
McLaughlin will be the 13th standard contract for San Antonio, which opened an extra roster spot earlier today by sending Malaki Branham and Blake Wesley to Washington in exchange for Kelly Olynyk.
Stein/Fischer’s Latest: Warriors, Horford, Melton, CP3, Beal, Knicks
While the Warriors are one of the only teams in the NBA that have yet to reach a contract agreement with a free agent this offseason, they’re viewed by numerous rival clubs as the “overwhelming favorite” to land Al Horford and De’Anthony Melton, according to Marc Stein and Jake Fischer of The Stein Line (Substack link).
Golden State already has over $170MM in guaranteed money on its books for nine players, so the outcome of Jonathan Kuminga‘s free agency will likely dictate what sort of offers the club can make to Horford and Melton.
Signing either of those veteran free agents with the $5.7MM taxpayer mid-level exception likely won’t happen until there’s a resolution on Kuminga, since using that exception would hard-cap the Warriors at the $207.8MM second apron. That could open the door for a rival team to find a way to give Kuminga an offer sheet featuring a starting salary too high for Golden State to match without cost-cutting moves.
Here’s more from Stein and Fischer:
- Chris Paul would still like to play as close to his home in Los Angeles as possible, and the Clippers and Suns continue to weigh the possibility of signing him, per Stein and Fischer. However, if those clubs ultimately go in a different direction, it’s unclear what the 2025/26 season might hold for Paul. The Bucks have interest in the veteran point guard, but he has shown “little inclination” to entertain the idea of signing with an Eastern Conference team so far, according to The Stein Line duo. For what it’s worth, when Paul was asked recently how much longer he plans to play, he replied, “At the most, a year,” which suggests that retirement may not be entirely off the table.
- Bradley Beal is owed a 25% advance payment on his 2025/26 salary on July 15, Stein and Fischer say. While the veteran guard would get that money (roughly $13MM) even if he and the Suns agree to a buyout before then, it’s possible he’ll wait until after he receives that payment an agreement that would see him exit Phoenix.
- After missing out on James Borrego, the Knicks are also unlikely to land Bucks assistant Darvin Ham as they seek a lead assistant for Mike Brown‘s new staff, Stein and Fischer report. Stein noted last weekend that New York has interest in Ham, but Milwaukee appears unwilling to give the Knicks permission to speak to him for what would be a lateral move. Jay Triano, another Knicks target, is also off the table since he just signed a new contract with Dallas, Stein and Fischer add.
- The Bucks are considered likely to bring back forward Thanasis Antetokounmpo if Giannis Antetokounmpo remains in Milwaukee, according to Stein and Fischer. Thanasis missed all of the 2024/25 season due to an Achilles tear, but said in May that he has been medically cleared to return to action.
Top 45 Picks From 2025 Draft Have Signed NBA Contracts
It has been 16 days since the NBA’s 2025 draft wrapped up and just 11 days since those draftees were permitted to start signing contracts, but the majority of the ’25 draft class have already put pen to paper, finalizing standard or two-way deals with their respective teams.
As our tracker shows, all 30 first-round picks have signed their rookie scale contracts, and the top 15 picks in the second round are now under contract too. Outside of the top 45, four additional players – No. 48 pick Javon Small, No. 49 pick Tyrese Proctor, No. 50 pick Kobe Sanders, and No. 55 pick Lachlan Olbrich – have formally inked their first NBA contracts.
That leaves the following players who don’t yet have an NBA contract in place for the 2025/26 season:
Boston Celtics: Amari Williams- Milwaukee Bucks: Bogoljub Markovic
- New York Knicks: Mohamed Diawara
- Golden State Warriors: Alex Toohey
- Utah Jazz: John Tonje
- Indiana Pacers: Taelon Peter
- Golden State Warriors: Will Richard
- Boston Celtics: Max Shulga
- Cleveland Cavaliers: Saliou Niang
- Memphis Grizzlies: Jahmai Mashack
A number of these players are expected to end up on two-way deals — Jonathan Givony of ESPN (Twitter links) reported on draft night that both of these Celtics picks – Williams and Shulga – would be signing two-ways with Boston, for instance.
Still, not all of these guys will be on NBA rosters when the 2025/26 season begins. For example, the expectation is that Niang will spend next season in the EuroLeague with Virtus Bologna.
Players born outside the U.S. and/or ones who already have experience in non-NBA leagues are typically the best candidates to become overseas draft-and-stash players, so that could be an option for late second-rounders like Markovic, Diawara, and Toohey too. It’s hardly a given though. Post-draft reporting indicated that the Bucks and Knicks weren’t yet sure if Markovic and Diawara, respectively, will be stashed in Europe or if they’ll play stateside in ’25/26. Diawara, in particular, might have a chance to earn a standard contract for a New York team with little breathing room below its hard cap.
The other option for draft-and-stash players is to spend the season in the G League rather than in a league outside the U.S. Typically, at least one or two players go that route each season. That’s what Nikola Djurisic, the Hawks’ No. 43 overall pick a year ago, did in 2024/25 before signing his first NBA contract with Atlanta earlier this week.
We’ll be keeping a close eye on these players in the coming days and weeks, as many of them could end up finalizing their plans for 2025/26 either during the Las Vegas Summer League or shortly thereafter.
Sixers Notes: Morey, Embiid, Grimes, Yabusele, Edwards
After making the playoffs for seven straight years, the Sixers bottomed out in 2024/25 amid injuries to several key players, going just 24-58. With a little luck in the draft lottery, Philadelphia kept its protected first-round pick and moved up to No. 3, selecting former Baylor guard VJ Edgecombe.
As challenging as last season was, president of basketball operations Daryl Morey thinks the 76ers have an opportunity to make a significant move up the Eastern Conference standings in ’25/26 due to major injuries to star players and roster changes to rival teams, writes Tony Jones of The Athletic.
“I do think it’s open in the East,” Morey said in an extensive interview with select media from the Las Vegas Summer League. “I do think that’s a fair characterization. I do, obviously, think that we weren’t the only team that’s unfortunately gone through a lot of tough injuries. That’s opened some things up. But we’re going to have to prove that we’re with those upper-echelon teams in the East. But we do feel like if all things come together, we can be right there, and we’ve given ourselves a lot of flexibility to upgrade the team during the year, if things are going as well as we hope.”
Here’s more on the Sixers:
- While Morey says star center Joel Embiid is “on track” to be ready for the start of training camp, league sources tell Jones that the 31-year-old big man has not yet resumed on-court basketball activities. Still, Morey and the rest of the front office are optimistic that Embiid will be ready to suit up for the regular season opener.
- In his same session with reporters, including Jones, Morey seemed to confirm that Philadelphia offered Guerschon Yabusele a contract above the minimum using his Non-Bird rights, as our Luke Adams had previously speculated. Yabusele wound up signing a two-year deal with New York for part of the mid-level exception. Morey suggested the 76ers didn’t want to hard-cap themselves by using any portion of their taxpayer MLE before Quentin Grimes‘ restricted free agency is resolved.
- “Yeah, that sucked,” Morey said of losing Yabusele. “We offered Guerschon the most that we could that wouldn’t limit us and our ability to retain Quentin. That was above the minimum. I’ve seen reports saying that we only offered the minimum, and that wasn’t true. But it was definitely below what he ended up getting. We knew it would create a challenge for us. So we wanted to retain Quentin. We hope to work that out with his representation, and our focus was on making sure that happens. So, that did impact what we could offer Guerschon.”
- Philadelphia native Justin Edwards was one of the bright spots for the Sixers last season. After a solid rookie campaign, he re-signed with his hometown team on a new three-year deal. “I definitely think this has been a full-circle moment for me, playing in the place I grew up in,” Edwards told Jones of The Athletic. “What I want to do is continue to grow my game and to keep getting better. I want to be in the Rising Stars game next season.”
International Rumors: Walker, Gill, Micic, Brown, Kamagate
Seven-year veteran Lonnie Walker spent most of last season in Lithuania with EuroLeague club Zalgiris Kaunas prior to signing a two-year deal with the Sixers in February. Philadelphia declined its team option on the 26-year-old at the end of last month, making him an unrestricted free agent, and he has yet to be linked to another NBA team.
Could another international stint be in the works for Walker?
According to Matteo Andreani of Basketball Sphere and Tomer Givati of Israel Hayom, Hapoel Tel Aviv is in advanced talks with Walker and has offered the 6’4″ shooting guard a two-year contract. Andreani says the Israeli club is “confident the deal will be finalized soon.”
Here are a few more rumors and notes from across the pond:
- Free agent forward Anthony Gill is drawing interest from multiple EuroLeague teams, particularly Real Madrid, per Javier Maestro of Spanish outlet Encestando and Israeli reporter Givati. The 32-year-old was waived by the Wizards last month before his contract became guaranteed and there is reportedly mutual interest in a reunion. However, Washington is also facing a roster crunch and Gill could potentially earn more money and have a larger role with Madrid. It’s not yet known which opportunity would hold more appeal to Gill, per Maestro, who points out that the Virginia product played three EuroLeague seasons with Russia’s Khimki prior to signing with the Wizards in 2020/21.
- Serbian guard Vasilije Micic agreed to a buyout with the Bucks, but he won’t be signing with reigning EuroLeague champion Fenerbahce, according to European insider Chema de Lucas (Twitter link), who says the Turkish powerhouse has pulled the contract offer it presented about a month ago (hat tip to Eurohoops). The 31-year-old won back-to-back EuroLeague titles with Turkey’s Anadolu Efes in 2021 and 2022.
- Former NBA guard Lorenzo Brown has signed a multiyear contract with Olimpia Milano, the Italian team announced in a press release. The 34-year-old spent parts of five seasons in the NBA from 2013-19 and has had a lengthy international career. He played for Panathinaikos in Greece last season.
- French center Ismael Kamagate, whose NBA rights are controlled by the Clippers, has signed with Turkish club Besikas (link to press release). The 24-year-old former second-round pick spent the 2024/25 campaign in Italy with Derthona.
Myles Turner Discusses Signing With Bucks
After publishing a farewell to Pacers fans on Thursday, Myles Turner was formally introduced as a member of the Bucks at a Friday press conference in Las Vegas, per Michael C. Wright of ESPN.com. Indiana’s longtime starting center has been the top free agent to switch teams so far this offseason.
“For me, ultimately it was about just staying competitive,” Turner said of signing with Milwaukee. “Two years ago, (the Pacers) got to the conference finals. Obviously, last year we got to the Finals. Being a big part of winning basketball just changed my entire perspective on this league. I saw a chance to remain competitive here.”
The 29-year-old big man said the chance to join forces with two-time MVP Giannis Antetokounmpo was a significant factor in his decision, Wright notes. Turner said he briefly exchanged text messages with the Greek superstar.
“I was tired of taking damned shoulders and elbows to the chest all the time,” Turner joked of playing with Antetokounmpo. “It’s a rarity to be alongside him. He’s a generational player, arguably one of the greatest players to play this game. I’m sure we’re going to talk here in the weeks to come. I’ve played against Giannis for quite some time now. Very familiar with his game and what he’s capable of. I do see a seamless fit. He’s someone that is able to push the ball, get out in transition, create for people. He’s developed a jumper.
“Defensively, his intangibles are there. I think our fit is going to be a pretty cohesive fit. But not even that, I just look at this roster and I’ve competed against these guys. There’s a respect from afar of just how they go about their business. There’s a reason why guys are there. Gary Trent just signed. Bobby Portis just signed. Taurean Prince just signed. Ryan Rollins just signed. Everybody sees the vision. They didn’t sign just to do it. I just think that there’s a real belief in this organization. I’ve aligned myself with that.”
According to Wright, Bucks general manager Jon Horst and head coach Doc Rivers flanked Turner at the presser and said they view him as an optimal fit for both Antetokounmpo and the way the team wants to play. Rivers also tried to put any speculation to rest that Antetokounmpo might request a trade at some point before the season begins.
“Giannis came to me the day after the season and we were talking about next season already,” Rivers said. “So, there’s far more talk outside of Milwaukee than there is inside of Milwaukee. Giannis loves Milwaukee. We love Giannis, and it’s been a great relationship. We’ve had some of our young guys in Greece already playing with him. I think we had six or seven guys go down (to Greece), several coaches. So, we are communicating a lot. It’s about next year, and it’s about winning.”
Northwest Notes: Valanciunas, Nuggets, Thunder, J. Gentry
The agreed-upon trade between the Nuggets and Kings that will send Jonas Valanciunas to Denver and Dario Saric to Sacramento will likely be completed this weekend, reports Marc Stein of The Stein Line (Twitter links).
According to Stein, the delay was due to the Nuggets needing additional time to finalize “all aspects” of their Michael Porter Jr./Cameron Johnson trade with the Nets. Both of those players have extensive injury histories, so that may have played a factor, though Stein didn’t explicitly say that.
Denver had to formally complete the Porter/Johnson deal before it could acquire Valanciunas due to the way the trades were structured.
Here’s more from around the Northwest Division:
- Head coach David Adelman believes Valanciunas can be the offensive hub of the Nuggets‘ second unit, as Bennett Durando of The Denver Post relays. “Point center. You can play combo guards. You don’t need a lead point guard (in lineups with Valanciunas),” Adelman said on ESPN’s Summer League broadcast. “You can play five-out offense, play off the elbow, post him up. He’s such a skilled player. … He shoots the ball better than most people realize. So that’s how I envision him. I think you have multiple combination guards. You can get away with that with a guy like that.”
- The Thunder have signed (or are signing) their top three players — Shai Gilgeous-Alexander, Jalen Williams and Chet Holmgren — to maximum-salary extensions this summer. Sam Quinn of CBS Sports explains why Oklahoma City is uniquely well positioned to manage the punitive aspects of having an expensive payroll in the future, noting that the defending champions may not operate over the second tax apron until the 2027/28 season.
- The Timberwolves are hiring Jack Gentry — a former Lakers coaching associate — to be their new head video coordinator, sources tell Dave McMenamin of ESPN (Twitter link). Jack is the son of longtime NBA coach Alvin Gentry, who is currently a member of Sacramento’s front office.
And-Ones: Veteran Extensions, Summer League, Rubio, Arcidiacono
This offseason has seen a trio of Thunder players receive maximum-salary contract extensions in Shai Gilgeous-Alexander, Jalen Williams, and Chet Holmgren, with Grizzlies big man Jaren Jackson Jr. and Suns guard Devin Booker among the other veterans who have signed – or at least agreed to – lucrative extensions.
That still leaves several dominoes to fall, according to John Hollinger of The Athletic, many of which are more interesting than your usual run-of-the-mill negotiations. It has already been reported that Nikola Jokic isn’t expected to sign a new deal with the Nuggets, for instance, as he would be eligible for a much higher number if he waits a year.
Another example of a conversation that is more complicated than it would appear is the Lakers and Luka Doncic. Because Doncic was traded while on his second contract, he is not super-max eligible. Because of that, it’s possible that he could negotiate to remove his player option and extend for three years with a player option, which would set him up for a new deal in 2028 that would be worth the 35% max for 10-year veterans.
Kristaps Porzingis and Trae Young of the Hawks, Darius Garland with the Cavaliers, Mikal Bridges with the Knicks, Kevin Durant with the Rockets, De’Aaron Fox with the Spurs, and Toumani Camara with the Trail Blazers are among the other extension candidates Hollinger identifies and examines.
We have more from around the world of hoops:
- The beauty of Summer League is that there’s something for every fan base to find hope in. ESPN’s Kevin Pelton and Jeremy Woo go through all 30 rosters to spotlight a player to watch for every team. While some, like Cooper Flagg in Dallas, are obvious, not every team has a top pick. Pelton points to LJ Cryer for the Warriors and Kobe Brown for the Clippers, while Woo looks at Kobe Bufkin for the Hawks and Taelon Peter for the Pacers, among others.
- Ricky Rubio recently opened up about his mental health struggles that have kept him out of basketball for the last year. He spoke with Jorge Quiroga of Marca about his time with the Timberwolves, saying, “I had a rough time in my third year. Things weren’t going well, and I gave an interview to a journalist. My parents came to see me in Minneapolis, and after the game, I talked to my mom and cried, telling her I wanted to leave.” When it comes to his future, he said, “I’d like to play basketball without being Ricky Rubio, but it’s impossible. I want to play basketball, but I can’t. I’m trying my best to see if I can.”
- Former Knicks guard Ryan Arcidiacono has agreed to a deal with Trapani Shark, a Sicilian-based team in Italy’s top league, per a press release. Arcidiacano played seven years in the NBA, averaging 4.0 points and 1.9 assists per game. He most recently played with the Windy City Bulls in the G League, averaging 8.2 PPG and 3.3 APG in 21 minutes a night.