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                                                                   Exhibit 10.23

                  FISHER COMMUNICATIONS INCENTIVE PLAN OF 2001


1.    Purpose

      The purpose of the Plan is to provide selected eligible key employees of
      Fisher Communications, Inc. ("Company") or any present or future
      Subsidiary of the Company with an inducement to remain in the employ of
      the Company and to participate in the ownership of the Company, and with
      added incentives to advance the interests of the Company and increase the
      value of the Company's common stock.

2.    Definitions

      (a)  "Code" shall mean the Internal Revenue Code of 1986, as amended.

      (b)  "Committee" shall mean the committee described in Section 3 hereof
           and selected by the Company's Board of Directors to administer the
           Plan.

      (c)  "Disability" shall mean that the person has been classified as
           disabled pursuant to any disability plan maintained by the Company,
           or in the absence of such classification, as determined by the
           Committee in its sole discretion.

      (d)  "Nonemployee Director" has the meaning set forth in Rule 16b-3 under
           the Securities Exchange Act of 1934, as amended.

      (e)  "Option" means any incentive stock option or non-statutory stock
           option granted hereunder.

      (f)  "Right" means any restricted stock right or performance stock right
           granted hereunder.

      (g)  "Subsidiary" as used in the Plan shall mean any corporation in an
           unbroken chain of corporations beginning with the Company, if each of
           the corporations other than the last corporation in the broken chain
           owns stock possessing fifty percent (50%) or more of the total
           combined voting power of all classes of stock in one of the other
           corporations in such chain.

3.    Administration

      (a)  The Plan shall be administered by a Committee appointed by the Board
           of Directors and shall consist of not less than three (3) members of
           the Board of Directors, all of whom shall be Nonemployee Directors.

      (b)  Subject to the terms of the Plan, the Committee shall have full and
           final authority to determine the persons who are to be granted
           Options and Rights under the Plan and the number of shares subject to
           each Option and Right, the Option price, the form, terms and

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           conditions, including but not limited to any target stock prices or
           any performance goals of the Options, whether the Options granted
           shall be incentive stock options or non- statutory stock options, or
           both, the time or times when each Option becomes exercisable, the
           duration of the exercise period and the terms and conditions of all
           Rights granted hereunder, and to make such other determinations as
           may be appropriate or necessary for the administration of the Plan.

      (c)  In connection with any termination of employment, the Committee shall
           have the specific authority to accelerate the vesting of any Rights
           and/or Options hereunder and to waive the three (3) month limitation
           in Section 13(a).

      (d)  The Committee shall select one (1) of its members as the Chairman,
           and shall hold its meetings at such times and places as it shall deem
           advisable. At least one-half (1/2) of its members shall constitute a
           quorum for the conduct of business, and any decision or determination
           approved by a majority of members present at any meeting in which a
           quorum exists shall be deemed to have been made by the Committee. In
           addition, any decision or determination reduced to writing and signed
           by all of the members shall be deemed to have been made by the
           Committee. The Committee may appoint a Secretary, shall keep minutes
           of its meetings, and may make such rules and regulations for the
           conduct of its business and for the carrying out of the Plan as it
           shall deem appropriate.

      (e)  The interpretation and construction by the Committee of any
           provisions of the Plan and of the Options and Rights granted
           thereunder shall be final and conclusive on all persons having any
           interest thereunder.

4.    Shares Subject to Plan

      (a)  Subject to the provisions of Section 18 (relating to adjustment due
           to changes in capital structure), the number of shares of stock which
           may be issued and sold pursuant to Options and Rights granted under
           the Plan shall not exceed Six Hundred Thousand (600,000) shares of
           the Company's common stock.

      (b)  If any Options or Rights granted under the Plan shall terminate or
           expire without having been exercised in full, the stock not purchased
           or acquired under such Options or Rights shall be available again for
           the purposes of the Plan; provided, however, that for purposes of
           Section 4(c), any such shares shall be counted in accordance with the
           requirements of Section 162(m) of the Code.

      (c)  Subject to the provisions of Section 18 (relating to adjustments due
           to changes in capital structure), the maximum number of shares with
           respect to which options may be granted under the Plan to any
           individual during any calendar year is Sixty Thousand (60,000)
           shares, and the maximum number of shares payable under a performance
           stock right for any Performance Cycle (as defined in Section 12(a))
           is Sixty Thousand (60,000) shares, such limitations to be applied in
           a manner consistent with the requirements of, and only to the extent
           required for compliance with, the exclusion from the limitation on
           deductibility of compensation under Section 162(m) of the Code.

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5.    Eligibility

      (a)  Options and Rights may be granted only to salaried key management
           employees of the Company or a Subsidiary (including officers and
           directors who are also salaried employees) who, in the judgment of
           the Committee, will perform services of special importance in the
           management, operation and development of the business of the Company
           or the businesses of one or more of its Subsidiaries, provided:

           (i)   The Option or Right grant date for an employee shall not occur
                 during or after the calendar year in which the employee reaches
                 the age of sixty-five (65), and

           (ii)  An Option or Right shall not be granted to an employee who,
                 immediately after the Option or Right is granted, owns stock
                 possessing more than five percent (5%) of the total combined
                 voting power or value of all classes of stock of the Company or
                 a Subsidiary.

      (b)  For purposes of determining the stock owned at a given time by an
           individual under Section 5(a)(ii) hereof, the following rules shall
           apply:

           (i)   Stock which the individual may purchase or acquire under
                 outstanding Options or Rights shall be treated as stock owned
                 by such individual;

           (ii)  Stock owned directly or indirectly by or for the individual's
                 brothers, sisters, spouse, ancestors and lineal descendants
                 shall be considered as owned by such individual; and

           (iii) Stock owned directly or indirectly by or for a corporation,
                 limited liability company, partnership, estate or trust, shall
                 be considered as owned proportionately by or for its
                 shareholders, members, partners or beneficiaries.

6.    Price and Term of Option

      (a)  The exercise price under each Option will be determined by the
           Committee but shall not be less than one hundred percent (100%) of
           the fair market value of the shares of stock covered by the Option at
           the time of the grant of the Option, as determined by the Committee.

      (b)  The term of each Option shall be as determined by the Committee, but
           shall not be in excess of ten (10) years from the date it is granted.
           An Option granted for an initial term of less than ten (10) years may
           be extended by amendment for a period of up to ten (10) years from
           the date of the initial grant, provided that no such amendment of an
           incentive stock Option shall be made without the prior consent of the
           optionee.

7.    Limitations on Exercise of Options

      (a)  Except as provided in Section 13 hereof, the optionee must remain in
           the continuous employ of the Company and/or its Subsidiaries for at
           least one (1) year from the date the Option is granted before any
           part thereof may be exercised. Absence on leave or on

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           account of illness or disability under rules established by the
           Committee shall not, however, be deemed an interruption of employment
           for purposes of the Plan. Thereafter, the Option may be exercisable
           in whole or in installments in accordance with its terms, as
           determined by the Committee.

      (b)  The minimum number of shares with respect to which Options may be
           exercised in part at any time shall be determined by the Committee at
           the time the Option is granted.

      (c)  With respect to incentive stock Options granted to an employee under
           the Plan, the aggregate fair market value (determined at the time the
           Options are granted) of the stock with respect to which incentive
           stock Options are exercisable for the first time by such employee
           during any calendar year (including all such plans of the Company and
           its Subsidiaries) shall not exceed One Hundred Thousand Dollars
           ($100,000).

8.    Method of Exercise of Option

      Each exercise of an Option granted hereunder, whether in whole or in part,
      shall be by written notice to the Chief Executive Officer of the Company
      designating the number of shares as to which the Option is exercised, and,
      where stock is to be purchased pursuant to such exercise, shall be
      accompanied by payment in full for the number of shares so designated.
      Stock to be purchased under the Plan may be paid for in cash, in shares of
      the Company's common stock (held by the Optionee for more than six (6)
      months) at their fair market value on the date of exercise, or partly in
      cash and partly in such shares. Fractional shares may not be purchased
      under an Option, and fractional shares may not be delivered to the Company
      for payment of the Option price. No shares shall be issued until full
      payment thereof has been made. Each optionee who has exercised an Option
      shall, upon notification of the amount due and prior to or concurrently
      with delivery of the certificates representing the shares, pay to the
      Company amounts necessary to satisfy applicable federal, state and local
      withholding tax requirements.

9.    Form of Option Agreement

      Each Option agreement shall contain the essential terms of the Option and
      such other provisions as the Committee shall from time to time determine,
      but such Option agreements need not be identical. If the Option is an
      incentive stock option, the instrument evidencing such Option shall
      contain such terms and provisions relating to exercise and otherwise as
      may be necessary to render it an incentive stock option under the
      applicable provisions of the Code (presently Section 422 thereof) and the
      regulations thereunder, or corresponding provisions of subsequent laws and
      regulations.

10.   Financing of Options

      The Company and its Subsidiaries may not extend credit, arrange credit,
      guarantee obligations, or otherwise aid employees in financing their
      purchases of stock pursuant to Options granted under this Plan.

11.   Restricted Stock Rights

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      (a)  The Committee may grant any eligible employee restricted stock rights
           which entitle such employee to receive a stated number of shares of
           the Company's stock if the employee for a stated number of years
           remains continuously employed by the Company or a Subsidiary or,
           following the employee's normal retirement, serves on the Board of
           Directors of the Company or in another capacity approved by the
           Committee (the "Restricted Period"). At the time the restricted stock
           right is issued, the Committee shall designate the length of the
           Restricted Period and the service that will qualify under the
           Restricted Period; provided, however, in no event may the Restricted
           Period extend beyond the fifth (5/th/) anniversary date of the
           employee's termination of employment. The Committee shall also have
           full and final authority to select the employees who receive
           restricted stock rights, to specify the number of shares of stock
           subject to each such Right, and to establish the other terms,
           conditions and definitions that govern such Rights.

      (b)  The Company shall pay to each holder of an unexpired restricted stock
           right during the Restricted Period, as additional compensation, an
           amount of cash equal to the dividends that would have been payable to
           the holder of such Right during the Restricted Period if the holder
           had owned the stock subject to the Right. Such amount shall be paid
           as near in time as reasonably practical to the applicable dividend
           payment dates.

      (c)  At the expiration of each Restricted Period, the Company shall issue
           to the holder of the restricted stock right the shares of stock
           relating to such Restricted Period, provided all conditions have been
           met.

      (d)  Upon grant of a restricted stock right, the Company shall deliver to
           the recipient a document which sets forth and describes in detail the
           terms and conditions of the Right.

12.   Performance Stock Rights

      (a)  The Committee may grant to an eligible employee performance stock
           rights which entitle such employee to receive a stated number of
           shares of the Company's common stock if the employee attains certain
           specified performance goals ("Performance Goals") within a stated
           performance period (a "Performance Cycle"). The Committee shall have
           full and final authority to select the employees who receive
           performance stock rights , to specify the number of shares of stock
           subject to each such Right, to establish the Performance Goals, to
           establish the Performance Cycle and to establish the terms,
           conditions and definitions that govern such Rights.

      (b)  The Committee shall establish Performance Goals for each Performance
           Cycle on the basis of such criteria and to accomplish such objectives
           as the Committee may from time to time select. Performance Goals
           selected by the Committee may include performance criteria for the
           Company, a Subsidiary, or an operating group, division, or unit of
           the Company or a Subsidiary. During any Performance Cycle, the
           Committee may adjust the Performance Goals for such Performance Cycle
           as it deems equitable in recognition of unusual or nonrecurring
           events affecting the Company, changes in applicable tax laws or
           accounting principles, or such other factors as the Committee may
           determine; provided, however, that the Committee may not adjust
           Performance Goals for any participant who

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           is a covered employee for purposes of Section 162(m) of the Code for
           the year in which such performance award is settled in such a manner
           as would increase the amount of compensation otherwise payable to
           such covered employee.

      (c)  As soon as practical after the end of a Performance Cycle, the
           Committee shall determine the extent to which a performance stock
           right has been earned on the basis of performance in relation to the
           established Performance Goals. To the extent that the Performance
           Goals of a performance stock right are satisfied, the Company shall
           settle the earned portion of the performance stock right by the
           issuance and delivery of shares equal to the number of earned shares.
           If the Performance Goals are not met by the expiration of the
           Performance Cycle, the performance stock right shall expire and the
           holder thereof shall have no further rights thereunder.

      (d)  Upon granting a performance stock right, the Company shall issue to
           the recipient an agreement which sets forth the terms and conditions
           of the performance stock right.

      (e)  The Committee will establish specific Performance Goals for each
           performance stock right not later than ninety (90) days after the
           beginning of the Performance Cycle for the award.

      (f)  The Company shall not make dividend equivalent payments with respect
           to shares subject to performance stock rights.

13.   Termination of Employment

      (a)  In the event the employment of an optionee by the Company or a
           Subsidiary shall terminate for any reason other than the optionee's
           normal retirement, the optionee having become age sixty-five (65),
           Disability or death, the Option may be exercised by the optionee at
           any time prior to the expiration date of the Option or the expiration
           of three (3) months after the date of such termination of employment,
           whichever is the shorter period, but only if and to the extent the
           optionee was entitled to exercise the Option at the date of such
           termination.

      (b)  If an optionee retires under the normal retirement policies of the
           Company or a Subsidiary having become age sixty-five (65), the Option
           may be exercised by the optionee at any time prior to the expiration
           date of the Option but in any event no later than the fifth (5/th/)
           anniversary date of the optionee's termination of employment.

      (c)  If an optionee dies while in the employ of the Company or a
           Subsidiary, or dies following termination of employment but during
           the period that the Option could have been exercised by the optionee,
           the optionee's Option rights may be exercised at any time prior to
           the expiration date by the person or persons to whom such rights
           under the Option shall pass by will or by the laws of descent and
           distribution, and, with respect to such decedents, such Options may
           be exercised without regard to the limitation provided in Section
           7(a) (relating to one year of employment) or installment limitations,
           if any, that would otherwise apply. But with respect to a decedent
           whose employment was terminated for any reason other than normal
           retirement, death or Disability, such Option

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           rights may be exercised only to the extent exercisable on the date of
           termination of employment.

      (d)  In the event of the termination of the optionee's employment because
           of Disability, the Option may be exercised by the optionee at any
           time prior to the expiration date of the Option, and, with respect to
           such optionee, such Option may be exercised without regard to the
           limitation provided in Section 7(a) (relating to one year of
           employment) or installment limitations, if any, that would otherwise
           apply.

      (e)  In the event a holder of restricted stock rights issued under the
           provisions of Section 11 hereof fails to satisfy the employment or
           service requirements for the issuance of stock under such rights for
           any reason other than death or disability as herein defined, such
           holder shall lose all rights to receive stock under the provisions of
           the restricted stock rights. In the event a holder of a restricted
           stock right is unable to satisfy the requirements of a restricted
           stock right because of death or Disability, then the holder or the
           personal representative of the holder's estate, as the case may be,
           shall be issued a number of shares of stock equal in number to the
           total number of unissued shares covered by such restricted stock
           rights. Such shares shall be issued or payment made without regard to
           any employment or other service requirement stated in the restricted
           stock rights.

      (f)  In the event the employment of an employee who holds a performance
           stock right granted under the provisions of Section 12 hereof
           terminates for any reason prior to the expiration of the performance
           period specified in the performance stock right, then, except to the
           extent the Committee may decide otherwise in select situations, such
           employee shall lose all rights to thereafter receive any stock under
           such performance stock right.

      (g)  To the extent that the Option of any deceased optionee or of any
           optionee whose employment is terminated shall not have been exercised
           within the time periods provided above, all further rights to
           purchase shares pursuant to such Option shall cease and terminate at
           the expiration of such period.

      (h)  If a corporation ceases to be a Subsidiary of the Company, employees
           of such corporation shall be deemed to have terminated their
           employment with the Company or a Subsidiary of the Company for
           purposes of this Plan.

14.   Options and Rights Not Transferable

      Any Option or Right granted hereunder shall not be transferable except by
      will or by the laws of descent and distribution of the state or country of
      the employee's domicile at the date of death, and, during the lifetime of
      the person to whom the Option or Right is granted, only the optionee, the
      holder of the optionee's power of attorney or the guardian of the optionee
      may exercise it.

15.   Rights as Stockholder

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      Neither a person to whom an Option or Right is granted, nor such person's
      legal representative, heir, legatee or distributee, shall be deemed to be
      the holder of, or to have any rights of a holder with respect to, any
      shares subject to such Option or Right, until after the stock is issued.

16.   Amendments to the Plan

      The Company's Board of Directors may from time to time make such
      amendments to the Plan as it may deem proper and in the best interests of
      the Company or a Subsidiary, provided that -

      (a)  No amendment shall be made which (i) would impair, without the
           consent of the applicable employee, any Option or Right theretofore
           granted under the Plan or deprive any employee of any shares of stock
           which he may have acquired through or as a result of the Plan, or
           (ii) would withdraw the administration of the Plan from a Committee
           of Directors of the Company meeting the qualifications set forth in
           Section 3(a) hereof.

      (b)  Any such amendment which would --

           (i)   Materially increase the benefits accruing to participants under
                 the Plan,

           (ii)  Increase the number of securities which may be issued under the
                 Plan, or

           (iii) Materially modify the requirements as to eligibility for
                 participation in the Plan

      shall be submitted to the shareholders of the Company for their approval
      at the next annual or special meeting after adoption by the Board of
      Directors, and if such shareholder approval is not obtained, the
      amendment, together with any actions taken under the Plan on the necessary
      authority of such amendment, shall be null and void.

17.   Termination of the Plan

      Options and Rights may be granted under the Plan at any time prior to the
      seventh (7th) anniversary date of the effective date of the Plan, on which
      anniversary date the Plan will expire except as to those Options and
      Rights then outstanding thereunder, which Options and Rights shall remain
      in effect until they have been exercised or have expired in accordance
      with their terms. The Plan may be abandoned or terminated at any time by
      the Company's Board of Directors, except with respect to Options and
      Rights then outstanding under the Plan.

18.   Changes in Capital Structure

      (a)  Except as provided in subparagraph (b), in the event that the
           outstanding shares of stock are hereafter increased or decreased or
           changed into or exchanged for a different number or kind of shares or
           other securities of the Company or of another corporation, by reason
           of any reorganization, merger, consolidation, recapitalization,
           reclassification, stock split-up, combination of shares, dividend
           payable in shares, rights offering, change in the corporate structure
           of the Company, or otherwise, appropriate adjustment shall be made

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           in the number and kind of shares for which Options and Rights may be
           granted under the Plan. In addition, an appropriate adjustment shall
           be made in the number and kind of shares as to which outstanding
           Options and Rights, or portions thereof then unexercised, shall be
           exercisable, to the end that the proportionate interest of the
           existing holder of an Option or Right shall be maintained as before
           the occurrence of such event. Such adjustment in outstanding Options
           and Rights shall be made without change in the total price applicable
           to the unexercised portion of the Option and Right and with a
           corresponding adjustment in the exercise price per share. Any such
           adjustment made by the Board of Directors shall be conclusive.

      (b)  In the event of dissolution or liquidation of the Company or a
           reorganization, merger or consolidation with one or more
           corporations, in lieu of providing for Options and Rights as provided
           for above in this Section 18, the Board of Directors of the Company
           may, in its sole discretion, provide a thirty (30) day period
           immediately prior to such event during which optionees shall have the
           right to exercise Options in whole or in part without any limitations
           on exercisability.

19.   Approvals

      The obligations of the Company under this Plan shall be subject to the
      approval of such state or federal authorities or agencies, if any, as may
      have jurisdiction in the matter. Shares shall not be issued with respect
      to an Option or Right unless the exercise and the issuance and delivery of
      the shares shall comply with all relevant provisions of law, including,
      without limitation, any applicable state securities laws, the Securities
      Act of 1933, as amended, the Securities Exchange Act of 1934, as amended,
      the Internal Revenue Code of 1986, as amended, the respective rules and
      regulations promulgated thereunder, and the requirements of any stock
      exchange upon which the shares may then be listed, and shall be further
      subject to the approval of counsel for the Company with respect to such
      compliance. Inability of the Company to obtain from any regulatory body
      having jurisdiction authority deemed by the Company's counsel to be
      necessary to the lawful issuance and sale of any shares hereunder shall
      relieve the Company of any liability for the nonissuance or sale of such
      shares. The Board may require any action or agreement by an employee
      holding an Option or Right as may from time to time be necessary to comply
      with the federal and state securities laws. The Company shall not be
      obliged to register Options or Rights, or stock granted or purchased under
      the Plan.

20.   Employment Rights

      Nothing in this Plan or any Option or Right granted pursuant thereto shall
      confer upon any employee any right to be continued in the employment of
      the Company or any Subsidiary of the Company, or to interfere in any way
      with the right of the Company, in its sole discretion, to terminate such
      employee's employment at any time.

21.   Effective Date of the Plan

      The effective date of this Plan is April 26, 2001.

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