Right-click anywhere on a page, choose Copy page, and choose Insert link(s) and copy the link(s). Add these links to your Word document, and add them to the Word document where your image watermark is located. To insert or modify the watermark, right-click on the photo, choose Image→Select Format. Go to the Layer panel and choose Graphics→Edit menu. Choose the drop-down option from the watermark options that are available to you. Select the image options you want, and click Copy. What about watermark-protected images? If you are using a watermark-protected image, there are a couple of workarounds. Use the Word Protect filter on the Image tab. (This option in Word was not available prior to Word 2007.) Choose Filter→Protect→Word Protect. Open your Word document and choose Word→Format→Watermark. Select the watermark option and click OK. Close the Word protection and edit the image with Adobe Acrobat PDF. Go to File→Paste and select the Word protect image. In the Word Protect filter, make sure all the checkboxes are checked.