Document:

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                                                                     Exhibit 4.7

                          REGISTRATION RIGHTS AGREEMENT

                                                                January 28, 2000

To Each of the Several Persons
named in Annex I hereto:

Dear Sirs:

         This will confirm that in consideration of the acquisition by you
(subject to the terms of the Merger Agreement referred to below) of up to an
aggregate 653,333 shares (the "Common Shares") of Common Stock, $.001 par value
(the "Common Stock"), of Globespan, Inc., a Delaware corporation (the "Company")
pursuant to the Agreement and Plan of Merger dated as of January 12, 2000 (the
"Merger Agreement") among the Company, FTI Acquisition Corp., a Delaware
corporation and a wholly owned subsidiary of the Company ("Sub"), and Ficon
Technology, Inc., a New Jersey corporation ("FTI"), providing for, among other
things, the merger (the "Merger") of Sub with and into FTI, and as an inducement
to you to consummate the transactions contemplated by the Merger Agreement, the
Company hereby covenants and agrees with each of you, and with each subsequent
holder of Restricted Stock (as such term is defined herein), as follows:

         1.   CERTAIN DEFINITIONS. As used herein, the following terms shall
have the following respective meanings:

         "COMMISSION" shall mean the Securities and Exchange Commission, or any
    other federal agency at the time administering the Securities Act.

         "COMMON STOCK" shall mean the Common Stock, $.001 par value, of the
    Company as constituted as of the date of this Agreement, subject to
    adjustment pursuant to the provisions of Section 9 hereof.

         "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934 or any
    similar federal statute, and the rules and regulations of the Commission
    thereunder, all as the same shall be in effect at the time.

         "REGISTRATION EXPENSES" shall mean the expenses so described in Section
    7 hereof.

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         "RESTRICTED STOCK" shall mean the Common Shares and any securities
    issued upon exchange, adjustment or transfer of any of such Common Shares
    (subject to adjustment pursuant to the provisions of Section 9 hereof), the
    certificates for which are required to bear the legend set forth in Section
    2 hereof.

         "SECURITIES ACT" shall mean the Securities Act of 1933 or any similar
    federal statute, and the rules and regulations of the Commission thereunder,
    all as the same shall be in effect at the time.

         "SELLING EXPENSES" shall mean the expenses so described in Section 7
    hereof.

         2.   RESTRICTIVE LEGEND. Each certificate representing Common Shares
and each certificate issued upon exchange or transfer of any Common Shares
(other than in a public sale or as otherwise permitted by the last paragraph of
Section 3 hereof) shall be stamped or otherwise imprinted with a legend
substantially in the following form:

         "THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED
         UNDER THE SECURITIES ACT OF 1933, AND MAY NOT BE SOLD, TRANSFERRED OR
         OTHERWISE DISPOSED OF UNLESS THEY HAVE BEEN REGISTERED UNDER THAT ACT
         OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE."

         3.   NOTICE OF PROPOSED TRANSFER. Prior to any proposed transfer of any
Restricted Stock (other than under the circumstances described in Section 4 or 5
hereof), the holder thereof shall give written notice to the Company of its
intention to effect such transfer. Each such notice shall describe the manner of
the proposed transfer and, if requested by the Company, shall be accompanied by
an opinion of counsel reasonably satisfactory to the Company to the effect that
the proposed transfer of the Restricted Stock may be effected without
registration under the Securities Act, whereupon the holder of such Restricted
Stock shall be entitled to transfer such Restricted Stock in accordance with the
terms of its notice. Each certificate for Restricted Stock transferred as above
provided shall bear the legend set forth in Section 2, unless (i) such transfer
is in accordance with the provisions of Rule 144 (or any other rule permitting
public sale without registration under the Securities Act) or (ii) the opinion
of counsel referred to above is to the further effect that the transferee and
any subsequent transferee (other than an affiliate of the Company) would be
entitled to transfer such securities in a public sale without registration under
the Securities Act.

         The foregoing restrictions on transferability of Restricted Stock shall
terminate as to any particular shares of Restricted Stock (i) when such shares
shall have been effectively registered under the Securities Act and sold or
otherwise disposed of in accordance with the intended method of disposition by
the seller or sellers thereof set forth in the registration

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statement concerning such shares or (ii) when such shares are sold or are
permitted to be sold by the seller or sellers thereof pursuant to the provisions
of Rule 144(k) of the Securities Act. Whenever a holder of Restricted Stock is
able to demonstrate to the Company (and its counsel) that the provisions of Rule
144(k) of the Securities Act are available to such holder without limitation,
such holder of Restricted Stock shall be entitled to receive from the Company,
without expense, a new certificate not bearing the restrictive legend set forth
in Section 2.

         4.   FORM S-3 REGISTRATION. Subject to the restrictions on transfer
contained in the Merger Agreement and the Escrow Agreement (as defined in the
Merger Agreement), if the Company shall receive from any holder or holders of
Restricted Stock a written request or requests that the Company effect a
registration on Form S-3 and any related qualification or compliance with
respect to Restricted Stock owned by such holder or holders, the reasonably
anticipated aggregate price to the public of which would exceed $1 million, the
Company will:

         i)   promptly give written notice of the proposed registration, and any
    related qualification or compliance, to all other holders of Restricted
    Stock; and

         ii)  as soon as practicable, effect such registration (including,
    without limitation, the execution of an undertaking to file post-effective
    amendments, appropriate qualifications under applicable blue sky or other
    state securities laws and appropriate compliance with applicable regulations
    issued under the Securities Act and any other government requirements or
    regulations) as may be so requested and as would permit or facilitate the
    sale and distribution of all or such portion of such holder's or holders'
    Restricted Stock as are specified in such request, together with all or such
    portion of the Restricted Stock of any holder or holders joining in such
    request as are specified in a written request given within thirty (30) days
    after receipt of such written notice from the Company, PROVIDED, HOWEVER,
    that the Company shall not be obligated to effect any such registration,
    qualification or compliance pursuant to this Section 4 more than once in any
    180-day period. Subject to the foregoing, the Company shall file a
    registration statement covering the Restricted Stock so requested to be
    registered as soon as practicable after re ceipt of the request or requests
    of the holders of the Restricted Stock.

         5.   INCIDENTAL REGISTRATION. Subject to the restrictions on transfer
contained in the Merger Agreement and the Escrow Agreement (as defined in the
Merger Agreement), if the Company at any time (other than pursuant to Section 4
hereof) proposes to register any of its Common Stock under the Securities Act
for sale to the public solely for cash, whether for its own account or for the
account of other securityholders or both (except with respect to registration
statements on Form S-4 or S-8 or another form not available for registering the
Restricted Stock for sale to the public), it will give written notice at such
time to all holders of outstanding Restricted Stock of its intention to do so
and of the intended method of sale. Upon the written request of any such holder,
given within 20 days after receipt of any such notice by the Company, to
register any of its Restricted Stock (which request shall state the number of
shares of

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Restricted Stock proposed to be included and that such shares are to be included
in any underwriting only on the same terms and conditions as the shares of
Common Stock otherwise being sold through the underwriter in connection with
such registration), the Company will use its best efforts to cause the
Restricted Stock as to which registration shall have been so requested to be
included in the securities to be covered by the registration statement proposed
to be filed by the Company, all to the extent requisite to permit the sale or
other disposition by the holder of such Restricted Stock so registered in
accordance with the intended method of sale applicable to the other shares of
Common Stock being sold; PROVIDED that nothing herein shall prevent the Company
from abandoning or delaying such registration at any time. The number of shares
of Restricted Stock to be included in such an underwriting may be reduced PRO
RATA among the requesting holders of Restricted Stock based upon the number of
shares of Restricted Stock so requested to be registered if and to the extent
that the managing underwriter shall be of the opinion that such inclusion would
adversely affect the marketing of the securities to be sold by the Company
therein PROVIDED, HOWEVER, that such number of shares of Restricted Stock shall
not be reduced if any shares are to be included in such underwriting for the
account of any person other than (i) the Company and (ii) holders of Common
Stock exercising "demand" registration rights granted to them by the Company.

         If requested by the managing underwriter(s) of an underwritten offering
of Common Stock or by the initial purchaser(s) in any offering of Common Stock
being resold pursuant to Rule 144A under the Securities Act, the holders of
Restricted Stock shall agree (on the same terms applicable to officers and
directors of the Company) not to effect any public sale or distribution of any
Restricted Stock held by such holders for a period of up to 120 days following,
and 15 days prior to, the date of the final prospectus contained in the
registration statement filed or of the offering memorandum used in connection
with such offering.

         6.   REGISTRATION PROCEDURES AND EXPENSES. If and whenever the Company
is required by the provisions of Section 4 or 5 hereof to use its best efforts
to effect the registration of any of the Restricted Stock under the Securities
Act, the Company will use its best efforts to effect the registration as
expeditiously as possible and will, as expeditiously as possible:

         (a)  prepare (and afford counsel for the selling holders reasonable
    opportunity to review and comment thereon) and file with the Commission a
    registration statement (which, in the case of an underwritten public
    offering pursuant to Section 4 hereof, shall be on Form S-3) with respect to
    such securities and use its best efforts to cause such registration
    statement to become and remain effective for the period of the distribution
    contemplated thereby (determined as hereinafter provided);

         (b)  prepare (and afford counsel for the selling holders reasonable
    opportunity to review and comment thereon) and file with the Commission such
    amendments and sup plements to such registration statement and the
    prospectus used in connection therewith as may be necessary to keep such
    registration statement effective for the period

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    specified in paragraph (a) above and as comply with the provisions of the
    Securities Act with respect to the disposition of all Restricted Stock
    covered by such registration statement in accordance with the sellers'
    intended method of disposition set forth in such registration statement for
    such period;

         (c)  furnish to each seller and to each underwriter such number of
    copies of the registration statement and the prospectus included therein
    (including each preliminary prospectus) as such persons may reasonably
    request in order to facilitate the public sale or other disposition of the
    Restricted Stock covered by such registration statement;

         (d)  use its best efforts to register or qualify, to the extent
    required by applicable law, the Restricted Stock covered by such
    registration statement under the se curities or blue sky laws of such
    jurisdictions as the sellers of Restricted Stock or, in the case of an
    underwritten public offering, the managing underwriter, shall reasonably
    request (provided that the Company will not be required to (i) qualify
    generally to do business in any jurisdiction where it would not otherwise be
    required to qualify but for this paragraph (d), (ii) subject itself to
    taxation in any such jurisdiction or (iii) consent to general service of
    process in any jurisdiction);

         (e)  immediately notify each seller under such registration statement
    and each underwriter, at any time when a prospectus relating thereto is
    required to be delivered under the Securities Act, of the happening of any
    event as a result of which the prospectus contained in such registration
    statement, as then in effect, includes an untrue statement of a material
    fact or omits to state any material fact required to be stated therein or
    necessary to make the statements therein not misleading in the light of the
    circumstances then existing;

         (f)  use its best efforts (if the offering is underwritten) to furnish,
    at the request of any seller, on the date that Restricted Stock is delivered
    to the underwriters for sale pursuant to such registration: (i) an opinion
    dated such date of counsel representing the Company for the purposes of such
    registration, addressed to the underwriters and to such seller, covering
    substantially the same matters with respect to the registration statement
    and prospectus included therein as are customarily covered in opinions of
    issuer's counsel delivered to the underwriters in comparable underwritten
    public offerings, and (ii) a letter dated such date from the independent
    public accountants retained by the Company, addressed to the underwriters,
    in form customarily furnished to underwriters in firm commitment
    underwritten public offerings providing substantially that they are indepen
    dent public accountants within the meaning of the Securities Act and that,
    in the opinion of such accountants, the financial statements of the Company
    included in the registration statement or the prospectus, or any amendment
    or supplement thereof, comply as to form in all material respects with the
    applicable accounting requirements of the Securities Act, and such letter
    shall additionally cover such other financial matters

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    (including information as to the period ending no more than five business
    days prior to the date of such letter) with respect to the registration in
    respect of which such letter is being given as such underwriters may
    reasonably request; and

         (g)  make available for inspection by each seller, any
    underwriter participating in any distribution pursuant to such registration
    statement, and any attorney, accountant or other agent retained by such
    seller or underwriter, all financial and other records, pertinent corporate
    documents and properties of the Company, and cause the Company's officers,
    directors and employees to supply all information reasonably requested by
    any such seller, underwriter, attorney, accountant or agent in connection
    with such registration statement and permit such seller, attorney,
    accountant or agent to participate in the preparation of such registration
    statement.

For purposes of paragraphs (a) and (b) above, the period of distribution of
Restricted Stock in a firm commitment underwritten public offering shall be
deemed to extend until each underwriter has completed the distribution of all
securities purchased by it, and the period of distribution of Restricted Stock
in any other registration shall be deemed to extend until the earlier of the
sale of all Restricted Stock covered thereby or six months after the effective
date thereof.

         In connection with each registration hereunder, the selling holders of
Restricted Stock will furnish to the Company in writing such information with
respect to themselves and the proposed distribution by them as shall be
reasonably necessary in order to assure compliance with federal and applicable
state securities laws.

         In connection with each registration pursuant to Sections 4 or 5 hereof
covering an underwritten public offering, the Company agrees to enter into a
written agreement with the managing underwriter selected in the manner herein
provided in such form and containing such provisions as are customary in the
securities business for such an arrangement between major underwriters and
companies of the Company's size and investment stature, PROVIDED, HOWEVER, that
such agreement shall not contain any such provision applicable to the Company
which is inconsistent with the provisions hereof and PROVIDED, FURTHER, HOWEVER,
that the time and place of the closing under said agreement shall be as mutually
agreed upon among the Company, such managing underwriter and the selling holders
of Restricted Stock.

         7.   EXPENSES. All expenses incurred by the Company in complying with
Sections 4 and 5 hereof, including, without limitation, all registration and
filing fees, printing expenses, fees and disbursements of counsel and
independent public accountants for the Company, fees of the National Association
of Securities Dealers, Inc., transfer taxes, fees of transfer agents and
registrars and reasonable fees and reasonable expenses of one counsel for the
sellers of Restricted Stock, but excluding any Selling Expenses, are herein
called "Registration Expenses". All underwriting discounts, selling commissions
applicable to the sale of Restricted Stock and stock transfer taxes are herein
called "Selling Expenses".

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         The Company will pay all Registration Expenses in connection with each
registration statement filed pursuant to Section 4 or 5 hereof. All Selling
Expenses in connection with any registration statement filed pursuant to Section
4 or 5 hereof shall be borne by the participating sellers in proportion to the
number of shares sold by each, or by such persons other than the Company (except
to the extent the Company shall be a seller) as they may agree.

         8.   INDEMNIFICATION. In the event of a registration of any of the
Restricted Stock under the Securities Act pursuant to Section 4 or 5 hereof, the
Company will indemnify and hold harmless each seller of such Restricted Stock
thereunder and each underwriter of Restricted Stock thereunder and each other
person, if any, who controls such seller or underwriter within the meaning of
the Securities Act, against any losses, claims, damages or liabilities, joint or
several, to which such seller or underwriter or controlling person may become
subject under the Securities Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of any material fact
contained in any registration statement under which such Restricted Stock was
registered under the Securities Act pursuant to Section 4 or 5, any preliminary
prospectus or final prospectus contained therein, or any amendment or supplement
thereof, or arise out of or are based upon the omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make
the statements therein, in light of the circumstances under which they were
made, not misleading, and will reimburse each such seller, each such underwriter
and each such controlling person for any legal or other expenses reasonably
incurred by them in connection with investigating or defending any such loss,
claim, damage, liability or action; PROVIDED, HOWEVER, that the Company will not
be liable in any such case if and to the extent that any such loss, claim,
damage or liability arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission so made in reliance
upon and in conformity with information furnished by such seller, such
underwriter or such controlling person in writing specifically for use in such
registration statement or prospectus and PROVIDED FURTHER, HOWEVER, that if (i)
a preliminary prospectus contains an untrue statement, alleged untrue statement,
omission or alleged omission that is corrected in the final prospectus and (ii)
the seller, under writer(s) or any controlling person delivers the preliminary
prospectus containing such untrue statement, alleged untrue statement, omission
or alleged omission to the person alleging loss and fails to deliver the final
prospectus to such person at or prior to written confirmation of the sale to
such person, then the Company will not be liable with respect to any loss,
claim, damage or liability incurred by such person arising out of or based upon
such untrue statement, alleged untrue statement, omission or alleged omission.

         In the event of a registration of any of the Restricted Stock under the
Securities Act pursuant to Section 4 or 5 hereof, each seller of such Restricted
Stock thereunder, severally and not jointly, will indemnify and hold harmless
the Company and each person, if any, who controls the Company within the meaning
of the Securities Act, each officer of the Company who signs the registration
statement, each director of the Company, each underwriter and each person who
controls any underwriter within the meaning of the Securities Act, against all
losses,

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claims, damages or liabilities, joint or several, to which the Company or such
officer or director or underwriter or controlling person may become subject
under the Securities Act or otherwise, insofar as such losses, claims, damages
or liabilities (or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of any material fact contained
in the registration statement under which such Restricted Stock was registered
under the Securities Act pursuant to Section 4 or 5, any preliminary prospectus
or final prospectus contained therein, or any amendment or supplement thereof,
or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the
statements therein not misleading, and will reimburse the Company and each such
officer, director, underwriter and controlling person for any legal or other
expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action; PROVIDED, HOWEVER,
that such seller will be liable hereunder in any such case if and only to the
extent that any such loss, claim, damage or liability arises out of or is based
upon an untrue statement or alleged untrue statement or omission or alleged
omission made in reliance upon and in conformity with information pertaining to
such seller, as such, furnished in writing to the Company by such seller
specifically for use in such registration statement or prospectus; PROVIDED,
FURTHER, HOWEVER, that the liability of each seller hereunder shall be limited
to the proportion of any such loss, claim, damage, liability or expense which is
equal to the proportion that the public offering price of shares sold by such
seller under such registration statement bears to the total public offering
price of all securities sold thereunder, but not to exceed the proceeds (net of
underwriting discounts and commissions) received by such seller from the sale of
Restricted Stock covered by such registration statement.

         Promptly after receipt by an indemnified party hereunder of notice of
the commencement of any action, such indemnified party shall, if a claim in
respect thereof is to be made against the indemnifying party hereunder, notify
the indemnifying party in writing thereof, but the omission so to notify the
indemnifying party shall not relieve it from any liability which it may have to
any indemnified party under this Agreement and otherwise to the extent the loss
arises from such omission. In case any such action shall be brought against any
indemnified party and it shall notify the indemnifying party of the commencement
thereof, the indemnifying party shall be entitled to participate in and, to the
extent it shall wish, to assume and undertake the defense thereof with counsel
satisfactory to such indemnified party, and, after notice from the indemnifying
party to such indemnified party of its election so to assume and undertake the
defense thereof, the indemnifying party shall not be liable to such indemnified
party under this Section 8 for any legal expenses subsequently incurred by such
indemnified party in connection with the defense thereof other than reasonable
costs of investigation and of liaison with counsel so selected; PROVIDED,
HOWEVER, that, if the defendants in any such action include both the indemnified
party and the indemnifying party and the indemnified party shall have reasonably
concluded that there may be reasonable defenses available to it which are
different from or additional to those available to the indemnifying party, or if
the interests of the indemnified party reasonably may be deemed to conflict with
the interests of the indemnifying party, the indemnified party shall have the
right to select a separate counsel and to assume such legal

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defenses and otherwise to participate in the defense of such action, with the
expenses and fees of such separate counsel and other expenses related to such
participation to be reimbursed by the indemnifying party as incurred.

         Notwithstanding the foregoing, any indemnified party shall have the
right to retain its own counsel in any such action, but the fees and
disbursements of such counsel shall be at the expense of such indemnified party
unless (i) the indemnifying party shall have failed to retain counsel for the
indemnified person as aforesaid or (ii) the indemnifying party and such
indemnified party shall have mutually agreed to the retention of such counsel.
It is understood that the indemnifying party shall not, in connection with any
action or related actions in the same jurisdiction, be liable for the fees and
disbursements of more than one separate firm qualified in such jurisdiction to
act as counsel for the indemnified party. The indemnifying party shall not be
liable for any settlement of any proceeding effected without its written
consent, but if settled with such consent or if there be a final judgment for
the plaintiff, the indemnifying party agrees to indemnify the indemnified party
from and against any loss or liability by reason of such settlement or judgment.

         If the indemnification provided for in the first two paragraphs of this
Section 8 is unavailable or insufficient to hold harmless an indemnified party
under such paragraphs in respect of any losses, claims, damages or liabilities
or actions in respect thereof referred to therein, then each indemnifying party
shall in lieu of indemnifying such indemnified party contribute to the amount
paid or payable by such indemnified party as a result of such losses, claims,
damages, liabilities or actions in such proportion as appropriate to reflect the
relative fault of the Company, on the one hand, and the underwriters and the
sellers of such Restricted Stock, on the other, in connection with the
statements or omissions which resulted in such losses, claims, damages,
liabilities or actions as well as any other relevant equitable considerations,
including the failure to give any notice under the third paragraph of this
Section 8. The relative fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact
relates to information supplied by the Company, on the one hand, or the
underwriters and the sellers of such Restricted Stock on the other, and to the
parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The Company and each of you agree
that it would not be just and equitable if contributions pursuant to this
paragraph were determined by PRO RATA allocation (even if all of the sellers of
such Restricted Stock were treated as one entity for such purpose) or by any
other method of allocation which did not take account of the equitable
considerations referred to above in this paragraph. The amount paid or payable
by an indemnified party as a result of the losses, claims, damages, liabilities
or action in respect thereof, referred to above in this paragraph, shall be
deemed to include any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action
or claim. Notwithstanding the provisions of this paragraph, the sellers of such
Restricted Stock shall not be required to contribute any amount in excess of the
amount, if any, by which the total price at which the Common Stock sold by each
of them was offered to the public exceeds the amount of

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any damages which they would have otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission. No person guilty of
fraudulent misrepresentations (within the meaning of Section 11(f) of the
Securities Act), shall be entitled to contribution from any person who is not
guilty of such fraudulent misrepresentation.

         The indemnification of underwriters provided for in this Section 8
shall be on such other terms and conditions as are at the time customary and
reasonably required by such under writers. In that event the indemnification of
the sellers of Restricted Stock in such underwriting shall at the sellers'
request be modified to conform to such terms and conditions.

         9.   CHANGES IN COMMON STOCK. If, and as often as, there are any
changes in the Common Stock by way of stock split, stock dividend, combination
or reclassification, or through merger, consolidation, reorganization or
recapitalization, or by any other means, appropriate adjustment shall be made in
the provisions hereof, as may be required, so that the rights and privileges
granted hereby shall continue with respect to the Common Stock as so changed.

         10.  REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company
represents and warrants to you as follows:

         (a)  The execution, delivery and performance of this Agreement by the
    Company have been duly authorized by all requisite corporate action and will
    not violate any provision of law, any order of any court or other agency of
    government, the Certificate of Incorporation or By-laws of the Company, or
    any provision of any indenture, agreement or other instrument to which it or
    any of its properties or assets is bound, or conflict with, result in a
    breach of or constitute (with due notice or lapse of time or both) a default
    under any such indenture, agreement or other instrument, or result in the
    creation or imposition of any lien, charge or encumbrance of any nature
    whatsoever upon any of the properties or assets of the Company.

         (b)  This Agreement has been duly executed and delivered by the Company
    and constitutes the legal, valid and binding obligation of the Company,
    enforceable in accordance with its terms, subject to considerations of
    public policy in the case of the indemnification provisions hereof.

         11.  RULE 144 REPORTING. The Company agrees with you as follows:

         (a)  The Company shall file with the Commission in a timely manner all
    reports and other documents as the Commission may prescribe under Section
    13(a) or 15(d) of the Exchange Act at any time during which the Company is
    subject to such reporting requirements of the Exchange Act.

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         (b)  The Company shall furnish to each holder of Restricted Stock
    forthwith upon request (i) a written statement by the Company as to its
    compliance with the reporting requirements of Rule 144 (at any time while it
    is subject to such reporting requirements), and of the Securities Act and
    the Exchange Act (at any time while it is subject to such reporting require
    ments), (ii) a copy of the most recent annual or quarterly report of the
    Company, and (iii) such other reports and documents so filed as a holder may
    reasonably request to avail himself of any rule or regulation of the
    Commission allowing a holder of Restricted Stock to sell any such securities
    without registration.

         12.  MISCELLANEOUS.

         (a)  All covenants and agreements contained in this Agreement by or on
    behalf of any of the parties hereto, including, without limitation, the
    rights to indemnification under Section 8 hereof, shall bind and inure to
    the benefit of the respective successors and assigns of the parties hereto
    whether so expressed or not. Without limiting the generality of the
    foregoing, the registration rights conferred herein on the holders of
    Restricted Stock shall inure to the benefit of any and all subsequent
    holders from time to time of the Restricted Stock (but only so long as such
    Restricted Stock remains Restricted Stock).

         (b)  So long as Restricted Stock remains subject to this
    Agreement, the Company will not enter into any merger, consolidation, sale
    of substantially all of its assets or other transaction in which (i) it is
    not the surviving entity and (ii) following the consummation of which the
    Restricted Stock or other securities, if any, issued in exchange therefor
    remain subject to the restrictions on transfer described in Section 3
    hereof, unless the acquiror shall expressly assume by a supplemental
    agreement, executed and delivered to the remaining holders of Restricted
    Stock, in form satisfactory to holders of a majority of the Restricted Stock
    then remaining, the due and punctual performance of every covenant of this
    Agreement on the part of the Company to be performed and observed with
    respect to the Restricted Stock after such transaction.

         (c)  All notices, requests, consents and other communications hereunder
    shall be in writing and shall be mailed by first class registered mail,
    postage prepaid, addressed as fol lows:

         If to the Company, to:

              GlobeSpan, Inc.
              100 Schulz Drive
              Red Bank, New Jersey   07701
              Telecopy Number: (732) 345-7556
              Attention: President and Chief Executive Officer

         with copies to:

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              Reboul, MacMurray, Hewitt, Maynard & Kristol
              45 Rockefeller Plaza
              New York, New York 10111
              Telecopy Number: (212) 841-5725
              Attention: William H. Hewitt, Esq.

         If to any holder of Restricted Stock, at their address as set forth in
Annex I hereto;

         with a copy to:

              Saiber Schlesinger Satz & Goldstein, LLC
              One Gateway Center
              Newark, New Jersey   07102
              Telecopy Number: (973) 622-3349
              Attention:  John L. Conover, Esq.

or, in any case, at such other address or addresses as shall have been furnished
in writing to the Company (in the case of a holder of Restricted Stock) or to
the holder of Restricted Stock (in the case of the Company).

         (d)  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
    WITH THE LAWS OF THE STATE OF NEW JERSEY.

         (e)  This Agreement constitutes the entire agreement of the parties
    with respect to the subject matter hereof, and supersedes all other prior
    agreements and understandings, whether oral or written, relating to the
    subject matter hereof. This Agreement may not be modified or amended, and
    the provisions hereof may not be waived, except in writing signed by each of
    (i) the Company and (ii) persons then holding, in the aggregate, a majority
    of the Restricted Stock then held by all holders as a whole.

         (f)  This Agreement may be executed in two or more counterparts, each
    of which shall be deemed an original, but all of which together shall
    constitute one and the same instrument, and shall become effective as to
    each holder of Restricted Stock upon such holder's execution of a
    counterpart after execution of a counterpart by the Company.

                                       12

<PAGE>

         Please indicate your acceptance of the foregoing by signing and
returning the enclosed counterpart of this Agreement, whereupon this Agreement
shall become binding upon the Company and you.

                                  Very truly yours,

                                  GLOBESPAN, INC.

                                  By: /s/ Armando Geday
                                     -----------------------------------------
                                  Title: President and Chief Executive Officer

AGREED TO AND ACCEPTED
as of the date first above written.

    /s/ Vivek Bansal
--------------------------------
        Vivek Bansal

    /s/ Amit Gaur
--------------------------------
        Amit Gaur

    /s/ Ashok Gupta
--------------------------------
        Ashok Gupta

    /s/ Ajay Sharma
--------------------------------
        Ajay Sharma

                                       13

<PAGE>

                                                                         ANNEX I

                                  STOCKHOLDERS

         Vivek Bansal

         Amit Gaur

         Ashok Gupta

         Ajay Sharma<PAGE>

                                                             Exhibit 10.20

                                            KEPPEL TATLEE BANK

                                                     Keppel TatLee Bank Limited
                                                     10 Hoe Chiang Road
                                                     Keppel Towers
                                                     Singapore 089315
                                                     Tel:  2228228
                                                     Fax: 2252256

PRIVATE AND CONFIDENTIAL

4 April 2000

Mr. Dick H. Fagerstal
Senior Vice President and Chief Financial Officer
Chiles Offshore LLC
11200 Richmond Avenue,
Suite 490,
Houston, Texas 77082

Dear Dick,

CREDIT FACILITIES

At your request, we are pleased to offer to a subsidiary ("NEWCO") of Chiles
Offshore LLC the following banking facility:

(1)      BORROWER

         Subsidiary ("NEWCO") of Chiles Offshore LLC to be incorporated in
         Delaware or in such other jurisdiction as may be tax efficient for the
         Borrower and acceptable to the Lender(s).

(2)      LENDER(S)

         Keppel TatLee Bank (KTB) Limited and/or Financial Institutions to be
         arranged by KTB Ltd acceptable to the Borrower.

(3)      TYPES AND LIMITS

         o        US$82 MILLION FINANCING PACKAGE WHICH COMPRISES OF:

         Facility A:       US$75,000,000 Term Loan. (This amount consists of
                           contract price of US$72,800,000 plus change order
                           no.l of US$500,000 to be signed together with the
                           shipbuilding contract; and additional change orders,
                           if any, but not exceeding US$1,700,000 contracted
                           after the signing of the shipbuilding contract).

<PAGE>

         Facility B:       US$7,000,000 Revolving Credit Facility

         o        OPTION TO EXTEND FOR 18 MONTHS AFTER DELIVERY

         Facility C:       Fixed Rate Term Loan with amount outstanding not
                           exceeding US$82,000,000. (Loan amount refers to the
                           aggregate amount outstanding under Facilities A and B
                           upon completion of the Rig).

         Facility D:       Money Market Loan of not more than US$1,500,000,
                           provided aggregate of Facility C & Facility D not
                           exceeding US$82,000,000 at all times.

(4)      PURPOSE OF THE FACILITY

         Facility A:       To finance the construction of a jack-up drilling
                           rig (the "Rig").

                           After the Borrower has initially raised cash (minimum
                           US$20,000,000) to be used by the Borrower exclusively
                           to pay for rig construction costs, owner furnished
                           equipment, other related rig construction and
                           supervision costs, the Borrower shall have the right
                           to draw down up to US$20,000,000 under Facility A,
                           prior to or upon delivery of the rig, to the extent
                           there is availability under the Facility. The
                           proceeds from such drawdown may not be used to pay
                           for anything other than outlined above.

                           The Borrower may not use such funds for the payment
                           of dividends or distributions and shall be subject to
                           all other restrictions imposed upon it by the Lenders
                           until all outstandings under the Facilities have been
                           repaid in full.

         Facility B:       For payment of interest incurred on Facilities A
                           and B and commitment fee due under Facilities A
                           and B.

         Facility C:       Refinance all outstandings under Facilities A
                           and B.

         Facility D:       For working capital purposes.

(5)      TENOR/FINAL MATURITY

         Facilities A:     22 months from first drawdown or upon completion of
         and B             the Rig, whichever earlier.

                                                                               2
<PAGE>

         Facilities C      18 months after the completion of the Rig.
         and D:

(6)      PRICING

         INTEREST RATE

         Facility A:       2% per annum above 1, 2, 3 or 6-month LIBOR, payable
                           on the  maturity date of each interest period.

         Facility B:       3% per annum above 1, 2, 3 or 6 months LIBOR,
                           payable on the maturity date of each interest period
                           by way of additional drawdown of Facility B.

         Facility C:       Fixed interest to be determined 2 business days
                           prior to value date, at 3% above average reference
                           Banks' 18-months swap cost of funds quoted by three
                           reference Banks to be determined. The reference Banks
                           would be major Banks like JP Morgan, Union Bank of
                           Switzerland, Chase Bank and Citibank. Interest is
                           payable semiannually in arrears.

         Facility D:       3% per annum above 1, 2, 3 or 6 month LIBOR,  at
                           Borrower's  option.  Interest is payable on the
                           maturity date of each interest period.

         PREPAYMENT FEE/EARLY REPAYMENT

         Facility A:       Prepayment penalty of 1/4% flat on amount prepaid
                           plus breakfunding costs if any. Partial or total
                           prepayment is allowed on interest payment date
                           subject to one week's notice. Minimum prepayment
                           amount shall be US$1,000,000 and in multiples of
                           US$500,000.

         Facility B:       Early repayment allowed. Subject to penalty of 1/4%
                           flat on amount prepaid plus breakfunding costs if
                           any.

         Facilities C      Prepayment penalty of 1/4% flat on amount prepaid
         and  D:           plus breakfunding costs if any. Partial or
                           total prepayment is allowed on interest payment date
                           subject to one month's notice. Minimum prepayment
                           amount shall be US$100,000 and in multiples of
                           US$100,000.

                                                                               3
<PAGE>

         CANCELLATION FEE

         Facilities A      Allowed at anytime during the availability
         and B:            period, in part or in whole, in multiples of
                           US$500,000 subject to a minimum of US$500,000 on
                           payment of 1/4% flat on amount cancelled upon giving
                           at least 7 days prior written notice to the Bank.
                           Notice once given is irrevocable. Any undrawn amount
                           at the expiry of the availability period will be
                           deemed as cancelled and a cancellation fee of 1/4%
                           flat of the undrawn amount will be payable.

         Facilities C      Not applicable.
         and D:

(7)      AVAILABILITY

         Subject to completion of all legal documentation.

         Facility A:       Subject to three days' written notice. To be fully
                           drawn within 22 months from first drawdown or upon
                           completion of Rig, whichever earlier.

         Facility B:       Subject to two days' written notice. Fully
                           revolving for the tenor of the Financing Package such
                           that no interest period shall fall after the Final
                           Maturity.

         Facility C:       Available only after delivery of the Rig, subject
                           to three days' written notice.

         Facility D:       Available only after delivery of the Rig, subject
                           to two days' written notice.

(8)      DRAWINGS

         Facility A:       Drawings must be made in minimum amounts of
                           US$100,000 against surveyors certificates and/or
                           suppliers' invoice, or as provided above under
                           "Purpose" for Facility A.

         Facility B:       To be drawn only for payment of interest expense
                           incurred under Facilities A and B and commitment due
                           for Facilities A and B.

                                                                               4
<PAGE>

         Facility C:       Available only after delivery of the Rig, subject to
                           three days written notice.

         Facility D:       Available only after delivery of the Rig, subject to
                           two days written notice.

(9)      REPAYMENT

         Facility A:       Bullet repayment on maturity.

         Facility B:       Any outstanding to be fully repaid on maturity.

         Facility C:       Bullet repayment on maturity.

         Facility D:       To be fully repaid on maturity. Partial repayment
                           possible on interest payment date.

(10)     SECURITY

i)       First legal mortgage in escrow over the Rig and the Owners Furnished
         Equipment ("OFE") to be converted into a mortgage as and when
         formalities allow. The Borrower shall be allowed to offer the OFE
         suppliers who are willing to extend payment terms to the Borrower a
         second lien over the Rig;

ii)      Assignment of all relevant insurance policies, including pre-delivery
         insurance;

iii)     Assignment of the Rig-Building contract; (not applicable under option
         to extend for 18 months after delivery).

iv)      Assignment of charter agreement (without notification), sale proceeds
         and any other monies due to the Borrower; Regardless of not notifying
         the charterees, of the Lenders' security interest on the charter
         earnings, all earnings of the Borrower shall be deposited into a
         designated account in which the Lender shall have a security interest
         ("Operating Account"). All operating, debt service and other allowed
         costs shall be reimbursed cut of the Operating Account and the excess,
         if any, shall be used to secure the repayment of the Facilities upon
         Final Maturity.

v)       Fixed and Floating charge on all other present and future assets of the
         Borrower, if any.

                                       5
<PAGE>

(11)     QUANTUM OF FINANCING

         Facilities A & B: Shall not exceed 87.7% of the Mortgaged Rig's
                           Construction Costs upon completion. Construction cost
                           is being defined as Total Shipyard Cost plus Value of
                           OFE.

(12)     CONDITIONS PRECEDENT (APPLICABLE TO FACILITIES A AND B ONLY)

         Borrower's minimum networth must not be less than US$20,000,000 prior
         to first drawdown of Facility A. Networth is defined as paid-up capital
         + Subordinated Shareholders' Loans.

(13)     OTHER TERMS AND CONDITIONS

         APPLICABLE TO FACILITIES A, B, C & D

i)       Borrower shall forward a copy of its quarterly financial reports to the
         Lenders within 45 days after the end of the respective period.

ii)      Borrower shall forward a copy of its audited final accounts to the
         Lenders within 180 days after the close of the Borrower's financial
         year. In addition, Borrower shall provide the Lender with any other
         relevant credit and financial information in a format agreeable to the
         Lender, as and when required by the Lender.

iii)     No additional indebtedness to be incurred by the Borrower without prior
         written consent from the Lenders. However, if the additional
         indebtedness are loans from shareholders and/or inter-companies, these
         additional indebtedness would be allowable as long as the loans
         (principal plus interest) are subordinated to that of the Lenders.

iv)      Subordination of all shareholder's and inter-companies' loans.

v)       Borrower to maintain minimum networth of not less than US$20,000,000 at
         all times. Injection of additional capital during the course of the
         loan is allowable. Networth is being defined as Paid-up Capital +
         Subordinated Shareholders' Loans.

vi)      No dividends payment and payment of interest on shareholder's loans by
         the Borrower over the life of the Financing Package.

                                                                               6
<PAGE>

vii)     Standard event of default clauses and other standard conditions
         pertaining to such Facility to apply.

viii)    Restrictions on the sale or transfer of whole or part of the Borrower's
         assets which could result in a material adverse effect on or materially
         change the scope or nature of the Borrower's business.

ix)      Material adverse change clause relating to the business, financials,
         etc. of the Borrower.

x)       Cross-default with all liabilities of the Borrower and its Holding
         Company. However, if the default called by a third party is being
         contested in good faith, the Borrower would be entitled to request for
         waiver of the cross-default condition. The cross-default condition
         would be triggered upon only if the default amount to more than
         US$5,000,000.

         APPLICABLE TO FACILITIES A & B

i)       Borrower has to provide Owner Furnished Equipment ("OFE") amounting to
         not less than US$18,500,000 to the construction of the Rig.

ii)      Valuation by an independent professional valuation firm appointed by
         Borrower but acceptable to the Lenders to be conducted upon completion
         of the Rig construction. All charges incurred would be for the account
         of the Borrower.

iii)     Borrower to provide the Lenders with copies of contracts for
         construction, and any other information concerning the Rig that the
         Lender may require.

         APPLICABLE TO FACILITIES C & D

i)       The vessel shall be Panama flagged.

ii)      Valuation by an independent professional valuation firm appointed by
         Borrower but acceptable to the Lenders, no sooner than 6 months after
         delivery of the Rig. All charges incurred would be for the account of
         the Borrower. Market value of the Rib has to be equal to or greater
         than 114% of total outstandings under facilities C and D.

(14)     TAXATION

         All payments made under the Financing Package shall be made free clear
         of any tax, withholdings and/or deductions, both present and future.

                                                                               7
<PAGE>

(15)     DOCUMENTATION

         The Financing Package is subject to the execution of required legal
         documentation in a form and substance satisfactory to all relevant
         parties.

(16)     EXPENSES

         All out-of-pocket expenses (including legal fees) incurred in
         connection with the preparation, execution and delivery of the Loan
         Facility Agreement and related documentation shall be for the account
         of the Borrower. If upon acceptance of the Letter of Offer and the
         Financing Package are aborted for any reason whatsoever or if the
         Borrower subsequently decide not to proceed with the Financing Package,
         the Borrower shall be required to pay all legal fees and related
         expenses incurred to date.

(17)     GOVERNING LAW & JURISDICTION

         New York Law or such other laws as may be necessary depending on he
         Borrowers' choice of jurisdiction.

We trust that the terms and conditions are acceptable to you. This offer will
lapse after thirty (30) days from the date of this letter unless otherwise
arranged.

Please confirm your acceptance by signing and returning to us the duplicate copy
of this letter together with a certified copy of your Board of Directors'
Resolution accepting the Financing Package.

                                                                               8
<PAGE>

We are pleased to be of service and look forward to hearing from you in due
course.

Yours Sincerely,

/s/ Foo Chee Yong                                /s/ Yeo Li Ping
-------------------------                        ---------------------
Foo Chee Yong                                    Yeo Li Ping
Senior Manager                                   Manager

 ...............................................................................

We confirm acceptance of your Financing Package based on the terms and
conditions stipulated above.

                                                                 4/6/00
-----------------------------                              ------------------
Authorised Signatory (ies)                                 Date
for and on behalf of Chiles Offshore LLC on behalf of subsidiary to be formed.

By virtue of a Directors' Resolution dated ______________
Name
Company Stamp

                                                                               9

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