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In today's 365 Ninja Tip, the tutorial demonstrates how to add or remove a watermark in Word 2013. To remove an existing watermark, navigate to the Design tab on the ribbon, find the Page Background section, and select the Watermark dropdown menu to remove it. Users can choose from pre-filled options like "Confidential," "Draft," or "Do Not Copy," or create a custom watermark with text or an image. Additionally, customization options for font and color are available. Once you finalize your design, click "Apply" to set the watermark in your document.