Do we need a refresher on Exhibit 10 contracts here?
Full article from the Hoopsrumors site: https://www.hoopsrumors.com/2019/07/hoops-rumors-glossary-exhibit-10-contract-2.html
Let’s say an undrafted rookie signs an Exhibit 10 contract with the Knicks that includes a $50K bonus. He attends camp with the Knicks, but is waived before the regular season begins, with New York 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 Westchester Knicks and remains with the club for 60 days, he’d be entitled to his full $50K bonus.
The player wouldn’t receive that bonus if he opts to sign with a team overseas after being waived by the Knicks. 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.
Full article from the Hoopsrumors site: https://www.hoopsrumors.com/2019/07/hoops-rumors-glossary-exhibit-10-contract-2.html