IONICS INC
EXHIBIT 10.6 STK OP AGREE
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<DESCRIPTION>EXHIBIT 10.6 STK OP AGREE
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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit 10.6 </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IONICS, INCORPORATED </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Stock Option
Agreement</U> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Stock Option Agreement (the &#147;Agreement&#148;) made as of this 7<SUP>th</SUP> day of
May, 2003, by and between IONICS, INCORPORATED, a Massachusetts corporation, (the
&#147;Company&#148;) and __________________ (the &#147;Director&#148;). </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>W I T N E S S E T H&nbsp;&nbsp;
T H A T</U>:  </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
the Corporation by action of its Board of Directors duly taken on February 25, 2003, and
of its Stockholders duly taken on May 7, 2003, has adopted the &#147;Ionics, Incorporated
2003 Non-Employee Directors Stock Option Plan&#148; (the &#147;Plan&#148;), and has
granted certain options under the Plan to the Director. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHEREAS,
this Agreement is made to evidence the options granted to the Director as contemplated by
Section 14 of the Plan; </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE, it is hereby mutually agreed as follows: </FONT></P>

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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1. </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Grant</U> </FONT></TD>
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Subject
to compliance with the terms and conditions hereof, and of the Plan (a copy of which is
annexed hereto as <U>Exhibit A</U>, and which shall be deemed to be an integral part of
this Agreement), the Company does hereby grant to the Director the following options: </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>as
of May 7, 2003, an option to purchase 4,000 shares of the Common Stock of the
                    Company (the &#147;Stock&#148;) for a price of $_____ per share; and  </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>as
of each successive year in office (as defined in Section 4 of the Plan) as a
                    director , an option to purchase an additional 2,000 shares of Stock,
and the                     option price applicable to each such option shall be an
amount equal to the last                     sale price of such Stock as reported on the
New York Stock Exchange (or other                     national securities exchange on
which the Stock is then traded) on the trading                     day next preceding the
date of grant of the option, provided the Director                     remains in office
as a director of the Company on said dates, and provided that                     each
such option, including the amount and price thereof, shall be subject to
                    adjustment as provided in Section 10 of the Plan.  </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2.  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Grant
as Non-Qualified Stock Option</u><BR><BR> The options granted hereunder are not intended to qualify
as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as
amended, and the regulations thereunder.  </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3.  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>Duration</u><BR><BR>
Each option shall expire on the respective date which is ten (10) years after the date of
grant of the option (as specified in Section 1 above), but subject to earlier termination
as specified in Section 8 of the Plan.  </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4.  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>Exercise</u> </FONT></TD>
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          <TD ALIGN=RIGHT WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
          <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Each of the options granted under the Plan shall not be exercisable for a period
          of six (6) months after their date of grant, but shall be immediately
          exercisable in full thereafter. </FONT></P></TD>
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          <TD ALIGN=RIGHT WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
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          There shall be no exercise at any time of fewer than 100 shares of Stock, except
          in the case where the total options available for exercise relate to fewer than
          100 shares. </FONT></P></TD>
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          <TD ALIGN=RIGHT WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
          <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          Exercise of the options from time to time shall be effected by giving written
          notice to the Company, substantially in the form of <U>Exhibit B</U> annexed
          hereto, accompanied by tender of payment in full for the option exercised, as
          provided in Section 9 of the Plan. If, pursuant to Section 9(b) of the Plan, the
          Director delivers Stock held by the Director (&#147;<U>Old Stock</U>&#148;) to
          the Company in full or partial payment of the exercise price and the Old Stock
          so delivered is subject to restrictions or limitations imposed by agreement
          between the Director and the Company, an equivalent number of shares of Stock
          shall be subject to all restrictions and limitations applicable to the Old Stock
          to the extent that the Director paid for the Stock by delivery of Old Stock, in
          addition to any restrictions or limitations imposed by this Agreement.
          Notwithstanding the foregoing, the Director may not pay any part of the exercise
          price hereof by transferring Stock to the Company if the Director had acquired
          such Stock within the prior six months pursuant to an option exercise. </FONT></P></TD>
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          <TD ALIGN=RIGHT WIDTH=9%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
          <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
          <TD WIDTH=88%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
          The options granted hereunder may be exercised by the Director only while he or
          she holds office as a director of the Company, except that: </FONT></P></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>in
the event that the Director ceases to be a director of the Company for any
          reason, including death or permanent disability (but excluding removal or
          resignation by reason of any of the events described in Section (d) (2) below),
          during a period of twenty-four months thereafter the Director may exercise any
          unexercised options for which the effective date of grant has occurred and
which           are then exercisable by the Director (any such options which are not
exercisable           at such time will immediately terminate and become void); and </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2)  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>in
the event the Director resigns or is removed from the Board for any one of           the
following reasons: (i) disloyalty, gross negligence, dishonesty or breach of
          fiduciary duty to the Company; or (ii) the commission of an act of
embezzlement,           fraud, or deliberate disregard of the rules or policies of the
Company which           results in loss, damage or injury to the Company, whether
directly or           indirectly; or (iii) the unauthorized disclosure of any trade
secret or           confidential information of the Company; or (iv) the commission of an
act which           constitutes unfair competition with the Company or which induces any
customer of           the Company to break a contract with the Company; or (v) the
conduct of any           activity on behalf of any organization or entity which is a
competitor of the           Company (unless such conduct is approved by a majority of the
members of the           Board), then all unexercised options represented by this
Agreement shall           terminate and become void on the date of such resignation or
removal.  </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5.  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>Effect
of Option</u><BR><BR> Neither the grant of any option under the Plan nor the making of this Agreement
shall operate to (a) confer any rights whatsoever as a stockholder of the Company upon
the Director, or upon any other person entitled to exercise the option, nor (b) confirm
any right upon the Director to continue in office as a director of the Company. </FONT></TD>
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<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6.  </FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><u>Non-Transferability
of the Option</u><BR><BR> Except as otherwise provided in this Section 6, no option granted under the
Plan shall be sold, assigned, transferred, pledged or otherwise encumbered, either
voluntarily or by operation of law, other than by will or the laws of descent and
distribution, and an option may be exercised during the lifetime of the Director only by
him or her. The options granted or to be granted to the Director under this Agreement may
be transferred by the Director to (i) the spouse, children or grandchildren of the
Director (&#147;Immediate Family Members&#148;), (ii) a trust or trusts for the exclusive
benefit of the Director or such Immediate Family Members, or (iii) a partnership, limited
liability company, corporation or other entity in which the Director or such Immediate
Family Members are the only partners, members, or stockholders, provided that any
subsequent transfer of transferred options is prohibited other than by will or the laws
of descent and distribution. Any transfer of any option in accordance with this Section
shall be made in compliance with the provisions of the Securities Act of 1933, as amended
(the &#147;Securities Act&#148;), and Section 7 of the Plan. </FONT></TD>
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Following
transfer, any such options shall continue to be subject to the same terms and conditions
set forth in the Plan and in this Agreement as were applicable immediately prior to
transfer. </FONT></TD>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7. </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    <u>Miscellaneous</U> </FONT></P></TD>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(a) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    This Agreement and the Plan constitute the full and complete understanding of
                    the parties hereto as to the subject matter hereof, and may not be modified or
                    amended except by a further written agreement duly signed by each of the parties
                    hereto. Unless the context otherwise requires, terms used herein shall have the
                    same meaning as in the Plan. </FONT></P></TD>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(b) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    This Agreement shall also inure to the benefit of, and be binding upon, the
                    respective personal representatives, successors and assignees (subject to
                    Section 6 hereof) of the parties hereto. </FONT></P></TD>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(c) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    The invalidity, illegality or unenforceability of any provision of this
                    Agreement shall in no way affect the validity, legality or enforceability of any
                    other provision. </FONT></P></TD>
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                    <TD ALIGN=RIGHT WIDTH=6%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d) </FONT></TD>
                    <TD ALIGN=LEFT WIDTH=3%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
                    <TD WIDTH=91%><P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
                    This Agreement shall be governed by and interpreted in accordance with the laws
                    of the Commonwealth of Massachusetts, without giving effect to the principles of
                    the conflicts of laws thereof. </FONT></P></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>IN WITNESS WHEREOF,  the Company, by
its authorized  officer,  and the Director have duly executed this Agreement in duplicate
as of this ____ day of May, 2003. </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>THE DIRECTOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IONICS, INCORPORATED </FONT></P>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By ___________________&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By
___________________ <BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>_________________ <BR>Address  </FONT></P>

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<P>_________________ </P>


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<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Exhibit A </FONT></P>

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<A NAME=A013></A>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Ionics, Incorporated
2003 Non-Employee Director Stock Option Plan </FONT></H1>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4>EXHIBIT B </FONT></H1>

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<A NAME=A015></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ionics, Incorporated<BR>65
Grove Street<BR>Watertown, MA 02472 </FONT></P>

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<A NAME=A016></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Re:
Exercise of Option Under Ionics, Incorporated 2003 Non-EmployeeDirectors <BR>Stock Option
Plan (the &#147;Plan&#148;) </FONT></P>

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<A NAME=A017></A>
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Gentlemen: </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Please take notice that the
undersigned hereby elects to exercise the stock option granted to <U> </U> on <U> </U>,
<U> </U> by and to the extent of purchasing ______ shares of the Common Stock of your
Corporation for the option price of $<U> </U> per share, subject to the terms and
conditions of the Stock Option Agreement of ________,_____ and your Corporation dated as
of _________________, _______. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The undersigned hereby tenders
payment, in cash or in such other property as permitted under the Plan, of the purchase
price for said shares against delivery to the undersigned of the stock certificate of your
Corporation representing the shares purchased. <U>If the undersigned is making payment of
any part of the purchase price by delivery of shares of Common Stock of your Corporation,
the undersigned hereby confirms that the shares are tendered subject to the provisions of
Section 9 of the Plan and that he or she has investigated and considered the possible
income tax consequences to the undersigned of making such payments in said form</U>. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The undersigned hereby specifically
confirms and represents that the shares of Common Stock acquired upon exercise are subject
to certain restrictions on resale. </FONT></P>

                                                              Very truly yours,


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<P>_________________ </P>
(Signed by ______________________<BR>or other party duly exercising option)

<BR>Dated: ____________

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