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                                                                   Exhibit 10.23


                                VISKASE WORLDWIDE
                            MANAGEMENT INCENTIVE PLAN
                                FISCAL YEAR 1999


 I.  Purpose

The Viskase Worldwide Management Incentive Plan (MIP) has been established for
Fiscal Year 1999 for those covered employees defined under Section III below.

The purpose of this Management Incentive Plan is to provide additional
compensation to participants for their contribution to the achievement of the
objectives of the Company including:

  -  Assisting in attracting and retaining highly qualified
     key employees.

  -  Encouraging and stimulating superior performance by
     such personnel.

II.  Definitions

A.   Base Salary equals the salary earnings for the portion of the Fiscal Year
     during which the participant was an active employee in the particular level
     of management for which the computation is being made. Salary earnings do
     not include Plan awards, long-term incentive awards, imputed income from
     such programs as executive life insurance or non-recurring earnings such as
     moving expenses and is based on salary earnings before reductions for such
     items as contributions under Section 401-(K) of the Internal Revenue Code
     of 1986 as amended.

B.   Company means Viskase Worldwide, its successors and assigns.

C.   Fiscal Year means the Company's Fiscal Year beginning January 1 and ending
     the last day of December.

D.   Plan means the Viskase Worldwide Management Incentive Plan as from time to
     time amended.

E.   Chairman of the Board and Chief Executive Officer means the Chairman of the
     Board and Chief Executive Officer of Viskase Companies, Inc.


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F.   Financial Targets are the financial goal(s) appropriate to the company for
     the Fiscal Year. These goals are identified in Exhibit B and are
     specifically identified by participant in Exhibit C.

G.   Discretionary Goals refer to the personal goals and objectives set by each
     participant and his/her supervisor at the beginning of each Fiscal Year
     against which performance is measured.


III. EMPLOYEES COVERED BY THIS PLAN

The Plan is applicable to those management employees and other key personnel in
the management levels specified in the attached Exhibit C.

 IV. FINANCIAL AWARD

A participant in the Plan shall be entitled to a Financial Award computed in
accordance with the following formula:

     Base         Financial        Bonus            Financial
     Salary   x   Performance  x   Percent      =   Performance
                  Incentive        Allocated        Award
                  Earned           To Financial
                                   Targets

     Where:

-    "Base Salary" is as defined in Section II A.

-    "Financial Performance Incentive Earned" is determined by the relationship
     of actual achievement to targeted goals and can range from minimum (95% of
     target) to maximum (125% of target), with full attainment of the financial
     goals equating to target for each measure as set forth in the business
     plan. The target/maximum range for each participant is a function of
     management level slotting (See Exhibit C). The relationship of actual
     achievement to the performance range will be determined by using
     straight-line interpolation for achievement between the target and the
     maximum of the payout range as applicable (see Exhibit B). Actual
     performance below target will result in no award being paid on that
     particular financial measure.


-    "Bonus Percent Allocated To Financial Targets" shall range from 0% to 100%.


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If a participant was in more than one management level during a Fiscal Year, a
separate computation shall be made for each level applicable to the participant
during such Fiscal Year; the sum of the separate computations shall be the
participant's Financial Performance Award.

V.   Personal Performance Award

Goals for each participant are to be developed jointly by the participant and
his/her supervisor at the beginning of a Fiscal Year. It is anticipated that
both quantifiable and non-quantifiable goals will be developed in the process.
Each goal should be weighted from 0% to 100%, with the sum of the weights equal
to 100%.

A participant in the Plan shall be entitled to a Personal Performance Award
computed in accordance with the following formula:

     Base         Personal         Bonus            Personal
     Salary   x   Performance  x   Percent      =   Performance
                  Incentive        Allocated        Award
                  Earned           To Personal
                                   Objectives

     Where:

-    "Base Salary" is as defined in Section II A.

-    "Percent of Personal Objectives Achieved" ranges from 0% to 100% and is
     determined by the agreed upon performance of the individual against
     pre-established individual goals.

-    "Percent of Bonus Allocated to Personal Objectives" shall range from 0% to
     100%.

It is intended that the participant and his/her supervisor will agree on
meaningful individual goals. The following is a partial list of the type of
goals or objectives that may be developed:

-    Achievement of income goals

-    Development of subordinates

-    Successful development of new accounts/products

-    Improvement in product merchandising programs



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-    Attainment of self-development objectives

-    Control or reduction of operating expenses

At the end of a Fiscal Year, each participant will review and evaluate his/her
accomplishment of personal goals and objectives. The participant and his/her
supervisor will then review the preliminary rating. Thereafter, the supervisor
will assign a Personal Performance %, from 0% to 100%, reflecting the
participant's achievement of his/her goals during such Fiscal Year. The Personal
Performance % recommendation of the supervisor shall be reviewed by the
President of the Company, who shall recommend an appropriate Personal
Performance % to the Chairman of the Board and Chief Executive Officer who shall
approve the final Personal Performance % for each participant.

  VI. Performance Measures, Targets and Payout Ranges

The financial performance measures, targets and payout ranges used for incentive
purposes shall be established by the Company based on the annual business plan.
Those measures, targets and payout ranges, as appropriate, shall be approved by
the Chairman of the Board and Chief Executive Officer. The performance measures,
targets and payout ranges are defined in Exhibit B.

 VII. Participant Bonus Composition

The composition of each participant's bonus shall be determined by the Chairman
of the Board and Chief Executive Officer. The composition may have a
Discretionary portion and a Financial portion. The composition of the bonuses
are established in Exhibit C.

VIII. Computation and Disbursement of Funds

As soon as possible after the close of the Fiscal Year, the members of the
Management Committee will recommend a final personal goal achievement percentage
and incentive award payment to the Chairman of the Board and Chief Executive
Officer. Once approved, payment of the awards shall be made as soon as possible
after the completion of the annual audit.

If the participant dies before receiving his/her award, the amount due will be
paid to the designated beneficiaries on file with the Company and, in the
absence of such designation, to the participant's estate. All payment awards
shall be reduced by amounts required to be withheld for taxes at the time
payments are made.


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 IX.  Changes to Target

The Chairman of the Board and Chief Executive Officer, at any time prior to the
final determination of awards and in consultation with the Management committee,
may consider changes to the performance measures, targets, and payout ranges
used for incentive purposes. If, in the judgment of the Chairman of the Board
and Chief Executive Officer, such change(s) is/are desirable in the interests of
equitable treatment of the participants and the Company as a result of
extraordinary or non-recurring events, changes in applicable accounting rules or
principles, changes in the Company's methods of accounting, changes in
applicable law, changes due to consolidation, acquisitions, or reorganization,
the Chairman of the Board and Chief Executive Officer shall authorize and
approve such change(s) for immediate incorporation into the Plan. Further,
should actual performance on any one or all of the financial measure(s) be less
than or greater than target by twenty-five percent (25%) or more, the award
actually earned under that measure(s) will be at the sole discretion of the
Chairman of the Board and Chief Executive Officer subject to approval by the
Compensation Committee of the Board.

  X.  Partial Awards

A participant shall be entitled to payment of a partial Financial Award and a
partial Personal Objectives Award, computed in accordance with Sections IV and
V, and based on Base Salary in a Fiscal Year, if prior to the end of such Fiscal
Year, a participant:

-    Dies,

-    Retires (is eligible to immediately receive retirement benefits under a
     Company sponsored retirement plan),

-    Becomes permanently disabled,

-    Transfers to a position with a salary grade not eligible for participation
     in the Plan,

-    Enters military service,

-    Takes an approved leave of absence,

-    Is appointed or elected to public office,

-    Is terminated due to position elimination,


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provided that the participant was an active employee for a minimum of 30
consecutive calendar days during such Fiscal Year. Such partial awards shall be
paid when payments of non-deferred awards for such Fiscal Year are made.

Participants hired during the course of a Fiscal Year and who are employed
through the end of such Fiscal Year shall be eligible for an award based on
their Base Salary during such Fiscal Year, provided that such employees begin
active service prior to February 1 of such Fiscal Year.

  XI. Forfeiture of Bonus

Except as provided in Section X, no participant who ceases to be an employee of
the Company prior to the end of a Fiscal Year shall be entitled to any amounts
under this Plan for such Fiscal Year unless the Chairman of the Board and Chief
Executive Officer, in consultation with the Vice President, Administration,
decides otherwise.

Participants who cease to be an employee of the Company between the end of a
Fiscal Year and the payment date of awards for such Fiscal Year shall be
entitled to awards earned during such Fiscal Year.

 XII. Administration

This Plan shall be administered by the Vice President, Administration of Viskase
Corporation, subject to the control and supervision of the Chairman of the Board
and Chief Executive Officer and the Compensation Committee of the Board of
Directors of Viskase Companies, Inc.

Any changes to the context of the Plan, the performance ranges, Plan adjustments
and actual payouts will be reviewed with and approved by the Compensation
Committee of the Board of Directors.

In the event of a claim or dispute brought forth by a participant, the decision
of the Chairman of the Board and Chief Executive Officer as to the facts in the
case and the meaning and intent of any provision of the Plan, or its
application, shall be final and conclusive.

XIII. No Employment Contract; Future Plans

Participation in this Plan shall not confer upon any participant any right to
continue in the employ of the Company nor interfere in any way with the right of
the Company to terminate any


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participant's employment at any time. The Company is under no obligation to
continue the Plan in future Fiscal Years.

 XIV. Amendment or Termination

The Company may at any time, or from time to time, (a) amend, alter or modify
the provisions of this Plan, (b) terminate this Plan, or (c) terminate the
participation of an employee or group of employees in this Plan; provided,
however, that in the event of the termination of this Plan or a termination of
participation, the Company shall provide the partial awards to the affected
participant(s) for the portion of the Fiscal Year during which such employee(s)
were participants in this Plan, in a manner in which the Company, in its sole
judgment, determines to be equitable to such participants and the Company.

  XV. General Provisions

(a)   No right under the Plan shall be assignable, either voluntarily or
involuntarily by way of encumbrance, pledge, attachment, level or charge of any
nature (except as may be required by state or federal law).

(b)   Nothing in the Plan shall require the Company to segregate or set aside
any funds or other property for the purpose of paying any portion of an award.
No participant, beneficiary or other person shall have any right, title or
interest in any amount awarded under the Plan prior to the close of the Fiscal
Year, or in any property of the Company or its subsidiaries.



       ---------------------        ----------------------------
        Final Approval Date           Chairman of the Board
                                    and Chief Executive Officer


                                    ----------------------------
                                            Vice President
                                            Administration






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