Exhibit 10 contracts could not save Pat Spencer’s roster spot when Golden State waived him before the 2022–23 season. The Warriors had a championship to defend and limited room for another guard. Spencer had a basketball career to build. His next stop would take him to Santa Cruz, away from the NBA roster he had spent training camp chasing.
Getting cut still meant getting cut. No contract attachment could turn that decision into NBA minutes. But Spencer’s connection to the organization survived, and that would matter over the next three seasons.
His route eventually led to a two-way contract in February 2024 and a standard NBA deal in March 2025. Golden State’s transaction history records those steps without capturing the uncertainty between them. A player waiting that long needs more than someone telling him to keep working. He needs a paycheck, useful possessions, and coaches who can explain what separates him from the next job.
That makes the final cut a harder decision than the transaction list suggests: who leaves the roster, and who still deserves the investment?
The Roster Spot Goes but the Work Continues
Spencer’s path toward Santa Cruz began before Golden State’s camp roster shrank. In July 2022, the affiliate acquired his G League returning-player rights from the Capital City Go-Go in a draft-pick swap. The organization had already taken a concrete step toward bringing him into its development program.
Santa Cruz did not simply discover a discarded guard after camp ended. Its staff had reason to keep watching him beyond a handful of preseason possessions.
Exhibit 10 contracts help teams prepare for that longer look. These one-year, minimum-salary NBA agreements can include a conditional bonus that encourages a waived player to join the club’s G League affiliate. Teams can also convert eligible agreements into two-way contracts before the regular season begins.
For the player, those routes lead to different working lives. A two-way deal provides an NBA contractual salary and chances to play for the parent club. Taking the affiliate route means clearing waivers, signing a G League agreement, and continuing the audition from there.
Spencer earned his first Golden State two-way deal well after his original training camp. His climb shows why coaches need to distinguish between someone who cannot help tonight and someone worth teaching through the winter.
Give the Player Something Specific to Fix
A guard can finish every baseline sprint and still lose a roster spot. Knowing the weak-side rotation does not create an opening in a crowded backcourt.
After the cut, coaches need a more useful assignment than “get better.” Can the guard keep his dribble alive when a defender forces him away from the screen? Does he find the corner shooter before the passing window closes? On defense, can he fight through contact without forcing a teammate to abandon his man?
Those questions give the player work he can recognize on film the next morning. Exhibit 10 contracts create the chance to keep evaluating him; the coaching staff must make those possessions count.
The Bonus Has to Compete With Real Alternatives
The conditional payment gives that invitation some financial weight. To earn an Exhibit 10 bonus through the usual affiliate route, a waived player must meet the contract’s requirements, including 60 consecutive days of G League service. The money rewards a sustained commitment after the NBA cut. It does not arrive merely because a player attended camp.
For someone weighing rent, training expenses, and another uncertain season, that distinction matters. A bonus can make staying close to an NBA organization more affordable. Still, an agent should ask what the player will receive besides access to the facility.
A European club might offer an established rotation role. Australia’s NBL could provide another competitive setting, while an offer from an Asian league might change the financial calculation. Each possibility depends on an actual contract, available minutes, and the player’s priorities.
Exhibit 10 contracts compete with those offers. An NBA affiliate needs more to sell than familiar practice gear when another club offers meaningful work and firmer compensation.
Spencer’s eventual climb gives teams a persuasive example. It does not let them promise the same ending. His first Golden State two-way agreement arrived in February 2024, long after the original 2022 invitation. Staying in the organization required a much longer commitment than surviving two months.
Develop Him Well and Another Team Might Call
Picture the evaluation from a rival scout’s seat in Sioux Falls or Maine. A guard turns the corner, draws the help defender and delivers a clean pass to the wing. The jersey belongs to one organization. Every NBA front office can study the film.
That remains a crucial limit on Exhibit 10 contracts. After a player clears waivers and joins an affiliate on a G League contract, other NBA teams can sign him. The G League’s affiliate-player rules spell it out: G League rights do not grant exclusive NBA signing rights.
The NBA club cannot stash him downstairs and assume he will wait. Another team may need a ball handler sooner. An injury elsewhere might create the opening that never appears at home.
For the player, that freedom strengthens the appeal of staying in the G League. Every useful possession gives his own coaches another reason to trust him and another scout a reason to call.
The team paying for his development takes that risk. Its coaches get to watch his practices, learn his habits, and see how he handles corrections. When an NBA opening appears, they should know exactly what he can offer. They still have to offer him the job.
Spencer Earned Minutes Without Securing a Nightly Role
By 2024–25, Spencer had reached the NBA floor often enough to give that long audition a tangible return. Golden State’s official season summary confirms 39 NBA regular-season appearances and eight NBA playoff appearances that season. Both totals belong to Golden State, separate from his Santa Cruz games.
His workload puts those appearances in perspective. Spencer averaged 6.4 minutes and 2.5 points during the regular season, according to the same team release. He had earned opportunities without claiming a large nightly role.
That modest scale makes his story more relevant to training camp cuts. Players fighting for the final places often need to earn trust in a narrow assignment before anyone offers them more.
A short shift leaves little room to recover from a missed coverage or careless pass. The reserve entering cold must identify the matchup, hear the call, and execute immediately. Coaches should prepare players for that job as carefully as they prepare them to carry an affiliate offense.
Exhibit 10 contracts can help begin that preparation. Spencer’s path shows where it can lead, while the years between his contracts show how much work remains after the signature.
The Next Cut Needs a Plan Behind It
When another training camp ends, someone will finish the last drill without knowing whether he will return the next morning. His legs may have survived the conditioning work. A crowded depth chart can still end his NBA stay.
Exhibit 10 contracts give the team something concrete to discuss after that decision. The conversation should cover the bonus, the affiliate’s roster, and the work awaiting him there. Coaches owe the player an honest account of what they want him to improve and how they intend to help.
For a guard, that might mean running more pick-and-roll possessions against pressure. A center might need repeated work defending away from the rim. Neither assignment helps much if the affiliate has already committed those minutes to somebody else.
The player has questions to answer, too. Does staying serve his career better than an overseas offer? Will the role let him show NBA scouts something they have yet to see?
Spencer’s route offers encouragement because it includes the waiting. Golden State cut him, Santa Cruz gave him another place to play, and later contracts brought him back to the NBA. None of those steps erased the uncertainty of the previous one.
A front office asking the next waived player to stay should remember how much it is asking. He needs more than a story about someone who made it. When the ball comes off the rack tomorrow, he needs a reason to believe the next possession will help him.
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FAQs
What are Exhibit 10 contracts in the NBA?
They are one-year, minimum-salary NBA agreements that can include a conditional G League bonus. Teams can convert eligible deals into two-way contracts before the season.
How does a player earn an Exhibit 10 bonus?
A waived player must meet the contract’s conditions, including joining the designated G League affiliate and completing 60 consecutive days of service.
Can another NBA team sign an affiliate player?
Yes. After clearing waivers and joining an affiliate on a G League contract, the player remains available for other NBA teams to sign.
Does an Exhibit 10 contract guarantee an NBA roster spot?
No. Teams can waive the player before the season. The agreement can still provide a route to continued development with their G League affiliate.
How many NBA games did Pat Spencer play in 2024–25?
Spencer played 39 regular-season games and eight playoff games for Golden State. Those totals exclude his Santa Cruz appearances.
