Celtics agree to two-way deal with Tremont Waters

(Mitchell Layton/Getty Images)

The Celtics have come to terms with second-round pick Tremont Waters a league source confirmed to BostonSportsJournal.com on Tuesday. The No. 51 overall pick will fill the team's second two-way contract slot along with undrafted swingman Max Strus per a report. Waters will earn just under $80,000 per year on the deal which won't count against the salary cap for Boston.

What exactly are the rules of a two-way contract? NBA teams may have up to two players under NBA Two-Way Contracts who will spend the bulk of the season in the NBA G League and not more than 45 days with their NBA team. They don't count towards the 15-man roster for the entire year. Two-Way players are paid a corresponding daily amount based on the number of days they play in each league. Only players in their fourth NBA season or earlier are able to sign Two-Way Contracts, which can be for either one or two seasons.