The allocation of control rights and incentive constraints are integral components of financing contracts for venture enterprises. Recognizing the incompleteness of contracts, the concept of fairness preferences from behavioral economics into the financing contract model was incorporated. The impact of entrepreneurs' fairness preferences on the distribution of control rights was explored and the interplay between incentive constraints and fairness preferences was examined. The results indicate a positive correlation between the proportion of allocated control rights and the entrepreneurs’ intensity of pride and envy, coupled with a negative correlation linked to their compassion intensity. Furthermore, optimal effort levels for the entrepreneurs are found to be an increasing function of their pride and envy intensities a decreasing function of compassion intensity.