Note that this project contains a reference to the Word object library. You may need to use a different reference for your version of Word.

Private WordServer As Word.Application

Private Sub Command1_Click()
Dim file_name As String
Dim file_path As String
Dim file_title As String
Dim txt As String
Dim new_txt As String
Dim pos As Integer

    Screen.MousePointer = vbHourglass
    Command1.Enabled = False
    DoEvents

    ' Open Word.
    file_name = txtFilename.Text
    file_title = Mid$(file_name, InStrRev(file_name, "\") + _
        1)
    file_path = Left$(file_name, Len(file_name) - _
        Len(file_title))

    ' Uncomment to show Word.
'    WordServer.Visible = True

    WordServer.ChangeFileOpenDirectory file_path
    WordServer.Documents.Open _
        FileName:=file_title, _
        ConfirmConversions:=False, _
        ReadOnly:=False, _
        AddToRecentFiles:=False, _
        PasswordDocument:="", _
        PasswordTemplate:="", _
        Revert:=False, _
        WritePasswordDocument:="", _
        WritePasswordTemplate:="", _
        Format:=wdOpenFormatAuto

    ' Go to the bookmark.
    WordServer.Selection.GoTo _
        What:=wdGoToBookmark, _
        Name:="Disclaimer"
    WordServer.Selection.Find.ClearFormatting
    With WordServer.Selection.Find
        .Text = ""
        .Replacement.Text = ""
        .Forward = True
        .Wrap = wdFindContinue
        .Format = False
        .MatchCase = False
        .MatchWholeWord = False
        .MatchWildcards = False
        .MatchSoundsLike = False
        .MatchAllWordForms = False
    End With

    ' Copy the image to the clipboard.
    Clipboard.Clear
    Clipboard.SetData Picture1.Picture, vbCFBitmap

    ' Paste the image into Word.
    WordServer.Selection.Paste

    ' Comment out to keep Word running.
    WordServer.Quit True
    Set WordServer = Nothing

    Screen.MousePointer = vbDefault
    Command1.Enabled = True
End Sub