@Dunkman, this is what I could find online:
"Players can sign up to two years on a two-way contract, with no more than an estimated $77,745 guaranteed per season. A two-way contract can guarantee up to half of base compensation (approximately $290,136 for 2024-25) should the player is not waived by the first day of the regular season (1DoS). Players can have up to half of the pro-rated amount guaranteed if signed in-season.
The cut-down date is January 10, though a player must be placed on waivers by January 7; otherwise, the full remaining salary becomes guaranteed. Some may sign later in the year to a non- or partially-guaranteed pro-rated salary, but since they are past the cut-down date, the salary is functionally guaranteed (FG)."
From what I understand, that means if you are kept on contract full season then you will make the $580k or thereabouts in salary that is often spoken about. If you are cut before the start of the regular season you just get the $77K unless the NBA team has guaranteed a larger amount which can be up to the $290K.