Strassmeier, K. G., Pallavicini, R., and the PEPSI/ICE team The "PEPSI with ICE"-Echelle spectropolarimeter for the LBT We lay out the scientific rationale for and present a conceptual design of a high-resolution adaptive-optics Echelle spectrograph with two full-Stokes polarimeters for the Large Binocular Telescope (LBT) in Arizona. The unique design and large aperture of 2x8.4m of the LBT will allow the simultaneous observation of circularly and linearly polarized light with high spectral and time resolution. Each telescope will be equipped with an independent polarimeter in their direct f/15 Gregorian focii and four fibres will enter a single bench-mounted Echelle spectrograph located in a temperature-controlled environment. Besides the polarimetric mode the spectrograph can also be fed directly with integral light including an adjacent sky position on one telescope and a calibration spectrum for accurate radial velocity determination on the other telescope.