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A luxury tax is a fee that teams must pay if their payroll exceeds a certain threshold, designed to prevent excessive spending on player salaries by wealthier teams.

A no-trade clause is a provision in a player's contract that prevents them from being traded to another team without their consent, giving players a degree of control over their career.

Free agency is a system that allows players to sell their services to any team after certain conditions are met, providing players with more freedom of movement and the ability to negotiate contracts.

Exhibit 10 contracts are contracts that include a specific attachment that allows NBA teams to convert a traditional contract into a two-way contract or waive the player.

The minimum salary is the lowest amount that a player can be paid as stipulated by the collective bargaining agreement, ensuring a baseline income for all players.

Draft rights are the exclusive rights that a team acquires to negotiate with a player selected in the draft, which can be held or traded among teams.

Revenue sharing is the distribution of a portion of the league's total income among its teams, which is designed to address disparities in market size and teams' financial performance.

Collective bargaining is the process of negotiating between representatives of the league and players to establish the terms of employment, including wages, hours, and other conditions.

Two-way contracts allow a player to split time between a league's major and minor teams, such as the NBA and G-League, with salary determined by their time spent on each.

Arbitration is a dispute resolution process where an independent third party makes a binding decision on a dispute between a player and the league/team, often regarding contract or discipline issues.

Rookie scale contracts are predefined contract structures for first-year players, which include salary scales and length of contract based on draft position.

A maximum contract is the highest amount that a player can be paid under the CBA, establishing a ceiling for player salaries and preventing inflation.

The veteran's minimum is the minimum salary that a player with a certain number of years in the league can earn, higher than the standard minimum salary to compensate for experience.

Performance bonuses are additional compensation that a player can earn for achieving specific performance-related milestones, incentivizing players to perform at their best.

An option year is a contract provision that allows the team or player to extend the contract for an additional year beyond the original terms, often under predefined conditions.

Trade kickers are contract clauses that provide a player with additional compensation if they are traded, protecting players' financial interests during trades.

Injury settlements are agreements that provide compensation to players for injuries sustained while playing, beyond the terms of their normal contract.

A guaranteed contract ensures that a player will receive their compensation regardless of whether they are cut from the team or injured, providing financial security for players.

A salary cap is a limit on the amount of money a team can spend on player salaries, which helps maintain competitive balance by ensuring that wealthier teams cannot simply outspend others for talent.

Group licensing allows for the collective use of players' names, images, and likenesses for products and promotions, with revenues often shared between the league and players.

Waivers is the process by which a team can release a player from their contract, allowing other teams the opportunity to claim the player or the player to become a free agent.

A strike fund is money set aside by player associations to support players financially during a strike or lockout, providing them with a safety net if collective bargaining leads to a work stoppage.

A practice squad is a group of players who practice with the team but are not on the main roster, often used in leagues like the NFL for development and as a reserve pool.

A non-guaranteed contract is a type of contract where the player's compensation is not guaranteed and can be terminated under certain conditions, offering less financial security for players.