Sub Macro1()

 Call WaterMark_All("Remove")
 Selection.GoTo wdGoToPage, wdGoToAbsolute, 1
 Call WaterMark_All("Insert")

End Sub



Sub WaterMark_All(ByVal actiontype As String)
    Dim a, i
    a = ActiveDocument.BuiltInDocumentProperties("Number of Pages")

    For i = 1 To a
        If actiontype = "Insert" Then
            Call InsertWaterMark(i)
        Else
            Call RemoveWaterMark(i)
        End If

    Next
    
    Exit Sub
     
ErrHandler:
    MsgBox "An error occured trying to insert the watermark." & Chr(13) & _
    "Error Number: " & Err.Number & Chr(13) & _
    "Decription: " & Err.Description, vbOKOnly + vbCritical, "Error"
     
End Sub

Sub InsertWaterMark(ByVal page_num As Integer)
    
    If page_num = Selection.Information(wdActiveEndPageNumber) Then
    
        ActiveDocument.Shapes.AddTextEffect(msoTextEffect1, _
        "DRAFT", "Arial", 1, False, False, 0, 0).Select
        With Selection.ShapeRange

            .Name = "Watermark_Page_" & page_num
            .TextEffect.NormalizedHeight = False
            .Line.Visible = False
                 
            With .Fill
                     
                .Visible = True
                .Solid
                .ForeColor.RGB = Gray
                .Transparency = 0.5
            End With
                 
            .LockAspectRatio = True
            .Height = InchesToPoints(2.42)
            .Width = InchesToPoints(6.04)
                 
            With .WrapFormat
                .AllowOverlap = True
                .Side = wdWrapNone
                .Type = 3
                     
            End With
            .RelativeHorizontalPosition = wdRelativeHorizontalPositionMargin
            .Left = InchesToPoints(0)
            .RelativeVerticalPosition = wdRelativeVerticalPositionMargin
            .Top = InchesToPoints(0)

        End With
        Selection.GoToNext What:=wdGoToPage
    End If
    Exit Sub
    
ErrHandler:
    'MsgBox "Error in Insert Water Mark [Page" & page_num & "]"
End Sub



Sub RemoveWaterMark(ByVal page_num As Integer)
    Dim strWMName As String
    On Error GoTo ErrHandler
    strWMName = "Watermark_Page_" & page_num
    ActiveDocument.Shapes(strWMName).Select
    Selection.Delete
    Exit Sub
    
ErrHandler:
    'MsgBox "Error in Remove Water Mark [Page" & page_num & "]"
End Sub