You don’t know what that is? You’re not alone.
An Exhibit 10 contract is a one-year non-guaranteed minimum contract with a bonus that “can pay the player from $5,000 to $50,000 if the player is waived by his NBA team, signs with the D-League, is assigned to the NBA team’s G League affiliate, and stays there at least 60 days,” according to CBAFAQ.com.
Essentially, Alkins got a training camp invite and if he makes the Raptors’ roster, he will be a minimum-salaried player.
If Alkins does not make Toronto’s roster, but signs with its G League affiliate — the Raptors 905 — he will get a sizable bonus to go with his G League salary.
If Alkins gets cut by the Raptors and signs outside the organization (say he goes overseas), then he only gets paid for his time in training camp.
The Raptors can also convert Alkins’ deal into a two-way contract. A two-way contract would turn him into a hybrid NBA/G League player for the organization.
Alkins would earn a base salary of $77,250 to play for the Raptors 905, with the chance to earn more when/if he gets called up to the NBA club. (Teams are allowed to carry two two-way players on their roster in addition to the standard 15.)
The caveat is two-way players are limited to 45 days on an NBA roster, so Alkins would be spending most, if not all, of his first pro season in the G League.
For instance, former Arizona guard Kobi Simmons was on a two-way contract last year, and wound up appearing in 32 games for the Memphis Grizzlies.
Simmons’ base salary was $75,000, but he earned the prorated rookie minimum anytime he was with the NBA club. The minimum for an NBA rookie in 2017-18 was roughly $562,493, so Simmons earned a nice chunk of change for appearing in roughly 40 percent of Memphis’ games (about $224,000 if my math holds).
Kadeem Allen was on a two-way contract last year too, and appeared in 18 games with the Celtics.
Allonzo Trier signed with the Knicks on a two-way contract.
Unlike Simmons, Trier and Alkins, Allen was a second-round pick, which shows Alkins might have been in a similar position even if he got drafted Thursday.
Either way, he has a big opportunity ahead of him with Summer League and training camp looming. The former begins in early July.
Go here for a more detailed breakdown of Exhibit 10 contracts.