Yeah, I don't know much of anything about NBA contract rules. But I found an interesting (if not a little old) article from Jan 7, that talks about his contract.
This has not been a very pleasant season for the Clippers, or the NBA at large. Between large outbreaks of COVID, injuries to superstars, and the overall
213hoops.com
"After his third season on a two-way deal, Amir Coffey will be ineligible for another year on a two-way, and will be an unrestricted free agent. Considering his play this year, it seems likely that at least one NBA team will sign Coffey to a regular NBA contract. Whether that team (or one of those teams) is the Clippers remains to be seen, but considering that Coffey is a good fit, a known positive locker room presence and chemistry guy, is still young, and will probably be fairly affordable, it makes all the sense in the world for the Clippers to re-sign him. Of course, if Amir can get a larger deal from a team, he should probably take it – he’s probably not the kind of player who will ever secure a truly major contract, so anything above the minimum is a win. Hopefully, however, he’s back in a Clippers uniform next season and for years to come."