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A two-way contract is a professional sports contract which stipulates that an athlete’s salary is dependent upon the league in which the athlete is assigned to play in. This is opposed to a one-way contract that would pay the same salary regardless of where the athlete is assigned to play.[1]

Two-way contracts are common for professional ice hockey players who aspire to play in the National Hockey League (NHL).[2][3] Any hockey player entering the NHL for the first time will sign a two-way contract with an NHL team stipulating that he will receive a higher salary if assigned to play with the NHL team, but will receive a lower salary if assigned to play for a team in the minor leagues such as the AHL or (for players on entry-level NHL contracts) the ECHL.[4]

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