Exhibit
10(29)






FORM
OF


STOCK
OPTION AGREEMENT





STOCK OPTION AGREEMENT (this "Option
Agreement") made this __ day of ____________, _____, between American
Biltrite Inc., a Delaware corporation (the "Company"), and _______________ (the
"Optionee").





Pursuant to the American Biltrite Inc.
1993 Stock Award and Incentive Plan, as amended and
restated as of March 4, 1997 (as it may be further amended from time to time,the "Plan"), on ____________, _____(the "Date of Grant"), the Committee
granted the Optionee, on the terms and conditions set forth herein (and subject
to the terms and provisions of the Plan), a nonqualified stock option (an
"Option") to purchase Stock.  This Option Agreement memorializes that
Option grant.  Capitalized terms which are not defined in this Option
Agreement will have the meanings set forth in the Plan.




1.Number of
Shares of Stock and Purchase Price. The
Option is exercisable for the purchase of up to ___________ shares of Stock (the
"Option Shares") at a purchase price equal to __________ per Share (the "Option
Price"), pursuant to the terms of this Option Agreement and the provisions of
the Plan.




2.Period of
Option and Conditions of Exercise.




(a)Unlessthe Option is previously terminated
pursuant to this Option Agreement or the Plan, the Option shall terminate upon
the expiration of ten (10) years from theDate of Grant (the "Expiration
Date").  Upon the termination of the Option, all rights of theOptionee hereunder shall
cease.




(b)Subject to the provisions of the Plan
and this Option Agreement, the Option shall become exercisable as to twenty
percent (20%) of the Option
Shares on each of the first five (5) anniversaries of the Date of Grant;providedthat, all Options shall become fully vested
and exercisable upon the occurrence of a Change in Control.




3.Termination of
Employment




(a)Except as provided
inthis Section 3, Options
may not be exercised, and such Options shall terminate, beginning on the date
the Optionee has ceased to be employed by the Company or an
Affiliate.  In the event that an Optionee ceases to be employed by the
Company or an Affiliate, any Options held by such Optionee may
be exercised and shall terminate as follows:




(i)if the Optionee's termination of
employment is due to retirement, Disability (as hereinafter defined), dismissal
without Cause (as hereinafter defined) or voluntary termination with the consent of the
Company or Affiliate by which the









Optionee was employed, the Optionee may,
at any time within 30 days after such termination of employment(or, if earlier, until the Expiration
Date), exercise any Options
to the extentthat the
Optionee was entitled to exercise such Options on the date of the Optionee's
termination of employment; and




(ii)if the Optionee dies while employed by
the Company or an Affiliate or within 30 days after the termination of his
employment by reasonof
retirement, Disability, dismissal without Cause or voluntary termination with
the consent of the Company or Affiliate by which the Optionee was employed, the
Optionee's legal representative may, at any time within nine months after the
Optionee's death(or, if earlier, until the Expiration
Date), exercise any Options
granted to the Optionee to the extent that the Optionee was entitled to exercise
such Options on the day of the Optionee's death.




(b)For purposes of thisOptionAgreement, the Optionee's employment will have terminated by reason
of "Disability" if, as a result of the Optionee's incapacity due to physical or
mental illness, the Optionee shall have been absent from his or her duties on a
full-time basis for the entire period of six consecutive months, and within thirty (30) days
after written notice is given by the Company to the Optionee (which may occur
before or after the end of such six-month period), the Optionee shall not have
returned to the performance of his or her duties on a full-time basis.




(c)For purposes of this Option Agreement,
"Cause" shall mean (i) the willful and continued failure by the Optionee to
substantially perform his duties with the Company (other than any such failure
resulting from the Optionee's incapacity due tophysical or mental illness), after
demand for substantial performance is delivered by the Company that specifically
identifies the manner in which the Company believes the Optionee has not
substantially performed his duties, or (ii) conviction for the commission of a felony or a crime involving
moral turpitude.  For purposes of this paragraph, no act, or failure
to act, on the Optionee's part shall be considered "willful" unless done, or
omitted to be done, by him not in good faith and without reasonable
belief that his action or omission was in
the best interest of the Company.  Notwithstanding the foregoing, the
Optionee shall not be deemed to have been terminated for Cause without delivery
to the Optionee of a "Notice of Termination" (as hereinafter defined), from the Board finding that in the
good faith opinion of all of the members of the Board the Optionee was guilty of
conduct set forth above in clause (i) or (ii) hereof, and specifying the
particulars thereof in detail.  For purposes of this
paragraph, a "Notice of Termination" shall mean a
notice (communicated to the Optionee in accordance with Section5(d)) which shall set forth in reasonable
detail the facts and circumstances claimed to provide a basis for termination of
the Optionee's employment for
Cause.




2




4.Exercise of
Option.




(a)The Option shall be exercised in the
following manner:  the Optionee, or the person or persons having the
right to exercise the Option upon the death or Disability of the Optionee, shall
deliver to the Company writtennotice, in substantially the form of the
notice attached hereto, specifying the number of Option Shares which the
Optionee elects to purchase.  The Optionee must include with the
notice full payment for any Option Shares being purchased under an
Option.




(b)Payment of the Option Price for any
Option Shares being purchased must be made in cash, by certified or cashier's
check, or by delivering to the Company Stock which the Optionee already owns or
by a cashless exercise procedure.  If the Optionee pays by
delivering Stock, the
Optionee must include with the notice of exercise the certificates for such
Stock either duly endorsed for transfer or accompanied by an appropriately
executed stock power in favor of the Company.  The Stock delivered by
the Optioneewill be valued by the Company at its Fair
Market Value on the day preceding the date of exercise of the Option, and if the
value of the Stock delivered by the Optionee exceeds the amount required to be
paid pursuant to this Section 4, the Company will provide to the Optionee, as soon as
practicable, cash or a check in an amount equal to the value, as so determined,
of any fractional portion of a share of Stock, and will issue a certificate to
the Optionee for any whole share(s) of Stock, exceeding the numberof shares of Stock required to pay the
Option Price.




(c)Not less than 100 Option Shares may be
purchased at any time upon the exercise of an Option, unless the number of
Option Shares so purchased constitutes the total number of Option Shares then
purchasable under the
Option.  The Option may be exercised only to purchase whole shares of
Stock, and in no case may a fractional share be purchased.  The right
of the Optionee to purchase shares of Stock with respect to which the Option has
become exercisablemay be exercised, in whole or in part at
any time or from time to time, prior to the Expiration Date or such earlier date
on which the Option terminates.




(d)The Company may require an Optionee to
pay, prior to the delivery of any Option Shares to which such Optionee shall be entitled upon
exercise of any Option, an amount equal to the federal, state,localand foreignincome taxes and other amounts required
by law to be withheld by the Company with respect to any
Option.  Alternatively, the Optionee may authorize the Company to withhold from the
number of Option Shares he or she would otherwise receive upon exercise of an
Option, that number of Option Shares having a Fair Market Value equal to the
amount of such required tax.




3




5.Miscellaneous.




(a)Entire Agreement.  This Option Agreement and
the Plan contain all of the understandings and agreements between the Company
and the Optionee concerning this Option and supersedes all earlier negotiations
and understandings, written or oral, between the parties withrespect thereto.  The Company
and the Optionee have made no promises, agreements, conditions or
understandings, either orally or in writing, that are not included in this
Option Agreement or the Plan.




(b)Captions.  The captions and section
numbers appearing in this
Option Agreement are inserted only as a matter of convenience.  They
do not define, limit, construe or describe the scope or intent of the provisions
of this Option Agreement.




(c)Counterparts.  This Option Agreement may
be executed in counterparts
each of which when signed by the Company or the Optionee will be deemed an
original and all of which together will be deemed the sameagreement.




(d)Notices.  Any notice or communication
having to do with this Option Agreement must be given by personal delivery or by certified mail, return
receipt requested, addressed, if to the Company or the Committee, to the
attention of the Secretary of the Company at the principal office of the Company
and, if to the Optionee, to the Optionee's last known addresscontained in the personnel or other
records of the Company.




(e)Succession and Transfer.  Each and all of the
provisions of this Option Agreement are binding upon and inure to the benefit of
the Company and the Optionee and their respective estate, successors and assigns;provided,however, that the Option shall not be
transferable by the holder thereof other than by will or by the laws of descent
and distribution and may be exercised, during the lifetime of the Optionee, only
by the Optionee or by his or her guardian, custodian or legal
representative.




(f)Amendments.  Subject to the provisions
of the Plan, this Option Agreement may be amended or modified at any time by an
instrument in writing signed by the parties hereto.




(g)Governing Law.  This Option Agreement and the rights of all persons
claiming hereunder will be construed and determined in accordance with the laws
of theStateofDelawarewithout giving effect to the choice of
law principles thereof.




(h)Benefits of this Agreement.  Nothing in thisOption Agreement shall be
construed to give to any person or entity other than the Company and the
Optionee any legal or equitable right, remedy or claim under this Option
Agreement; but this Option Agreement shall be for the sole and exclusive benefit
ofthe Company and the
Optionee.




4




(i)Option Agreement Subject to
Plan.  This
Option Agreement is made under and subject to the provisions of the Plan, and
all of the provisions of the Plan are hereby incorporated herein as provisions
of thisOptionAgreement.  If there is a conflict
between the provisions of this Option Agreement and the provisions of the Plan,
the provisions of the Plan will govern.  By signing thisOptionAgreement, the Optionee confirms that he
or she has received a copy of the Plan and has had an opportunity to review the
contents thereof.




IN WITNESS WHEREOF, the parties have
executed this Stock Option Agreement on the date and year first above
written.










AMERICAN
BILTRITE INC.






By: 
_________________________


Name:


Title:











OPTIONEE







______________________________


Name:





5


AMERICAN
BILTRITE INC.


STOCK
OPTION AGREEMENT


NOTICE OF
EXERCISE


_______________,
_____








American
Biltrite Inc.


57 River
Street


Wellesley
Hills, Massachusetts 02481-2047





Attn:  Secretary





Gentlemen:





On ______________, _____, I was granted
an option by American Biltrite Inc. (the "Company") under the Company's 1993
Stock Award and Incentive Plan (the "Plan"), which was memorialized in a stock
option agreement, between myself and the Company, dated as of _________________,
_____ (the "Option Agreement").  This letter is to notify you that I
wish to purchase Option Shares under the Option Agreement as set forth
below.





Exercise
of Stock Option(s)





1. I wish to
purchase __________ Option Shares at the current exercise price of $__________
per share for a total cost of $__________





2. I am paying
for these Option Shares as follows:





___
            By
      enclosing cash and/or a certified or cashier's check payable to the
      Company in the amount of $__________.___
            By
      enclosing a stock certificate duly endorsed for transfer or accompanied by
      an appropriately executed stock power in favor of the Company,
      representing __________ shares of Common Stock of the Company
      ("Stock").___
            By
      cashless exercise procedure.








3. I am paying
the local, state and federal withholding taxes and/or all other taxes that the
Company has advised me are due as follows:





___
            By
      enclosing cash and/or a certified or cashier's check payable to the
      Company in the amount of $__________.___
            By
      enclosing a stock certificate duly endorsed for transfer or accompanied by
      an appropriately executed stock power in favor of the Company,
      representing __________ shares of Stock.___
            By
      authorizing the Company to withhold from the number of Option Shares I
      would otherwise receive that number having a fair market value equal to
      the tax amount due.








Very
      truly yours,Optionee's
      SignatureName
      and Address(please
      print)Telephone
      Number
            (    
      )Social
      Security Number