I got this error with Xcode 5 when I try to run the app on my device.
The executable was signed with invalid entitlement
It work
(Xcode 6.1)
The problem for me was in my Build Settings; I had my Provisioning Profile set to an App Store Production Profile when trying to deploy to a device. I switched it to 'Automatic' and it resolved my issue. You could also set it to your Dev Provision Profile.
I also have 2 Certificates, so I added my second Certificate to my dev provision. Others probably won't have this problem.