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Portland Trail Blazers: What are the rules with ten day contracts?

Just like there are specific rules around trades, ten-day contracts have their own unique guidelines around dates, roster size and contract. Using the Portland Trail Blazers as an example, how do teams need to go about signing players to ten day contracts?

The first day a player can be signed to a ten-day contract is January fifth. When this date rolls around a team like the Portland Trail Blazers could choose to sign power forward Kenneth Faried. His salary would be a minimum deal ( almost all ten days are at the minimum ) and would be pro-rated over the length of the deal.