Bis-(norbornyl or substituted norbornyl) derivatives of a phenol or phenylamine of the following formula: ##STR1## wherein each A is O or NH; M is a bivalent radical such as the residue of an aldehyde, ammonia, water or H.sub.2 S; each R is a hydrocarbyl or an inertly substituted hydrocarbyl group; each R.sub.1 is independently a hydrocarbyl or an inertly substituted hydrocarbyl group and each n is independently an integer from 0 to 3 are useful as antioxidants for a variety of materials including latex compositions for preparing latex foam backed carpets.