Up to now, scholars domestic and foreign have conducted a systematic in-depth study from different perspectives on the rewards contract and incentive mechanism of executives. However, research from the perspective of team, particularly of team human capital, is extremely rare. Modern enterprise contract theory holds that investment in human capital of executives should be involved in the distribution of residual right, and that corporate decision-making and operating processes are considered a team’s productive behavior of all senior managers in the organization. Thus, it is highly necessary and significant to study this problem from the perspective of team human capital. In this paper, on the basis of pricing and property rights theory of team human capital, we establish a new research framework of executives’ rewards contract and incentive mechanism, and provide a theoretical reference for enterprises (especially state-owned enterprises) to resolve the long-existing problem of operators’ incentive.