Using the muhi-task principal-agent model, this study analyzes the SOE（state owned enterprise） manager＇s incentive contracts in two aspects： the tasks are inter-independent and inter-dependent. We find that, when the tasks are inter-dependent, the incentive contract with a SOE manager is not only multi-tasked, but also threshed. That is, the incentive for a SOE manager is positive only when both the SOE manager＇s political performanee and preference performance satisfy the threshed incentive conditions simultaneously; otherwise, it is negative. The threshed incentive conditions are thereby presented in this article