EMPLOYMENT AGREEMENT



         THIS EMPLOYMENT AGREEMENT made as of February 13, 2004 (the

"Agreement") by and between Ionics, Incorporated, a Massachusetts corporation

with principal offices at 65 Grove Street, Watertown, MA 02472 (the

"Corporation"), and Lyman B. Dickerson, an individual residing at 280

Leucadendra Drive, Coral Gables, Florida 33156 (the "Employee").



                                   WITNESSETH



         WHEREAS, the Corporation desires that the Employee be employed as its

Vice President, Water Systems Division (consisting of the operations described

below) on the terms and conditions set forth in this Agreement; and



         WHEREAS, the Employee desires to be employed by the Corporation in such

capacity, on the terms and conditions set forth in this Agreement; and



         WHEREAS, the Employee has represented and warranted to the Corporation

that he has no commitment, obligation or contract of any kind that is

inconsistent with his being employed by the Corporation on the terms contained

herein; and



         WHEREAS, this Agreement is being entered into in connection with, and

its execution and delivery is a condition to the closing of, the sale to the

Corporation of all of the outstanding capital stock, equity and membership

interests of Ecolochem, Inc., Ecolochem S.A.R.L., Moson Holdings, LLC and

Ecolochem International, Inc. (each, an "Ecolochem Entity" and collectively, the

"Ecolochem Entities") by the holders thereof, including the Employee (the

"Acquisition");



         NOW, THEREFORE, in consideration of the premises and of the covenants

and agreements contained in this Agreement, the parties hereby agree as follows:



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1. Duties. The Corporation hereby hires and agrees to employ the Employee, and

the Employee agrees to be employed by the Corporation, in an executive capacity

for the Term (as defined in Section 3(a) below) and on the terms and conditions

set forth in this Agreement. During the Employment Term (as defined in Section

3(a) below), the Corporation shall employ the Employee as its Vice President,

Water Systems Division (which includes, among other operations, the Ecolochem

Entities, their respective subsidiaries and the Corporation's Ultrapure Water

and Industrial Water operations), and as such, the Employee shall be the senior

executive officer with responsibility for such Division and shall be responsible

for managing the integration of the Ecolochem Entities with the Corporation's

existing Ultrapure Water operations. During the Employment Term, the Employee

shall report directly to, and shall be subject to the direction and control of,

the Corporation's Chief Executive Officer, and the Employee shall be primarily

based at Miami, Florida, except for reasonably required travel on the

Corporation's business. During the Employment Term, the Employee shall devote

substantially all of his business time, best efforts, and business judgment,

skill, ability, knowledge, and energies to the advancement of the Corporation's

best interests in the discharge of his responsibilities hereunder, which shall

be the responsibilities commensurate with an executive position in a corporation

with securities publicly traded in the United States.



2. Compensation.



         (a) Base Salary. During the Employment Term, as compensation for the

Employee's services hereunder, the Corporation shall pay to the Employee a base

salary of $20,833.33 per month (for an annual rate of $250,000), subject to such

salary increases as may be granted by the Corporation's Board of Directors (the

"Board"). The base salary shall be payable in installments in accordance with

the Corporation's regular practices, as such practices may be modified from time

to time, but in no event less often than monthly. All payments shall be subject

to all applicable federal, state and/or local payroll and withholding taxes.



         (b) Bonus. In addition to his base salary, during the Employment Term,

the Employee will be eligible to participate in any bonus program to be

established by the











                                       2

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Corporation for its senior executive personnel, based upon criteria determined

solely by the Board. In order to be eligible to receive any bonus, the Employee

must be employed on the date upon which the bonus payment is made.



         (c) Stock Options. Employee shall be eligible to participate in any

stock option plans that may be provided by the Corporation to its key employees

from time to time, as determined by the Compensation Committee of the Board of

Directors.



         (d) Benefits. During the Employment Term, the Employee shall be

eligible to participate in all benefit plans of the Corporation, including,

without limitation, the Ionics, Incorporated Section 401(k) plan, and group

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