NBA Two-Way and Exhibit 10 contracts, explained: Tracking undrafted player signings after 2023 NBA Draft

Sam Jarden

NBA Two-Way and Exhibit 10 contracts, explained: Tracking undrafted player signings after 2023 NBA Draft image

On Thursday night, 58 basketball prospects fulfilled their lifelong dreams when they heard their name called at the 2023 NBA Draft.

But for many other talented young players who weren't selected, the journey is far from over. 

Shortly after the draft concluded, NBA teams began racing to scoop up the best remaining players as undrafted free agents. It's an underrated part of the offseason process that can end up paying dividends for teams who sign wisely — just look at this year's Finals runners-up, the Miami Heat, who had seven undrafted free agents on their roster. 

There are a couple different contracts available for undrafted free agents: Two-Ways and Exhibit 10s. The Sporting News has you covered with everything you need to know about the different options for teams looking to sign undrafted players.

NBA DRAFT GRADES: Analyzing every team's 2023 selections

What is a Two-Way contract?

In the NBA, a Two-Way contract is a contract that allows players to suit up for both an NBA team and that team's NBA G League affiliate. Each team is allowed to have a maximum of two players on Two-Way deals at the same time. 

There are a couple of rules that go along with this type of contract. For one, it is only available to players with up to three years of NBA experience. Players on Two-Way contracts are also limited to a maximum of 50 games with their NBA team. If the NBA team they signed with doesn't have a G League affiliate, then they will be sent to play with another team's affiliate, per SB Nation.

What is an Exhibit 10 contract?

An Exhibit 10 contract is a one-year, minimum salary contract with no other bonuses. The Exhibit 10 attachment gives NBA teams the ability to convert the contract into a Two-Way deal, but only if they do it before the start of the regular season.

They are usually non-guaranteed, allowing teams to waive the player without taking a cap hit. In that situation, the player would earn a bonus of between $5,000 to $50,000 if they remain with the team's G League affiliate for 60 days.

Exhibit 10s are handy to teams for a couple of reasons. For one, they allow the flexibility to either retain the player on a minimum deal or convert the contract to a Two-Way depending on their performance. They also allow for the player to be waived at no cap penalty if the team isn't sold on their potential. 

2023-24 NBA Two-Way and Exhibit 10 contracts: Team-by-team tracker

Team Two-Way School/Team Exhibit 10 School/Team
Hawks Miles Norris UC Santa Barbara

Jarkel Joiner

David Singleton

NC State

UCLA

Celtics        
Nets        
Hornets Leaky Black North Carolina Angelo Allegri Eastern Washington
Bulls Adama Sanogo UConn    
Cavaliers

Craig Porter Jr.

Wichita State

   
Mavericks Mike Miles Jr. TCU    
Nuggets     Armaan Franklin Virginia
Pistons     Tosan Evbuomwan Princeton
Warriors        
Rockets        
Pacers Oscar Tshiebwe Kentucky    
Clippers     Xavier Castaneda Akron
Lakers

Colin Castleton

D'Moi Hodge

Florida

Missouri

Alex Fudge Florida
Grizzlies GG Jackson South Carolina    
Heat Drew Peterson USC    
Bucks Omari Moore San Jose State Drew Timme Gonzaga
Timberwolves        
Pelicans     Landers Nolley Cincinnati
Knicks

Jacob Toppin

Jaylen Martin

Kentucky

Overtime Elite

   
Thunder     Caleb McConnell Rutgers
Magic        
76ers

Ricky Council IV

Azuolas Tubelis

Terquavion Smith

Arkansas

Arizona

NC State

   
Suns Grant Sherfield Oklahoma    
Trail Blazers    

Antoine Davis

Malachi Smith

Detroit-Mercy

Gonzaga

Kings        
Spurs Sir'Jabari Rice Texas Seth Millner Toledo
Raptors Markquis Noweli Kansas State    
Jazz Joey Hauser Michigan State Taevion Kinsey Marshall
Wizards        

Sam Jarden

Sam Jarden Photo

Sam Jarden joined Sporting News as an intern in 2020 and returned as a content producer in 2022. In between, he spent a year and a half at Turner Sports, managing the social media accounts for Bleacher Report, NBA on TNT, NBA TV and others. A proud UNC alumnus, he spends his free time following the Tar Heels, Buffalo Bills and Newcastle United FC, and has been known to occasionally hit the links.