Document:

<PAGE>   1
                                                                    Exhibit 4.10

                                  $350,000,000

                       FAIRCHILD SEMICONDUCTOR CORPORATION

             10-1/2% SENIOR SUBORDINATED NOTES DUE FEBRUARY 1, 2009

                          REGISTRATION RIGHTS AGREEMENT

                                                                January 26, 2001

CREDIT SUISSE FIRST BOSTON CORPORATION (acting through its affiliate,
DONALDSON, LUFKIN & JENRETTE SECURITIES CORPORATION)
LEHMAN BROTHERS INC.
DEUTSCHE BANK ALEX. BROWN INC.
FLEET SECURITIES, INC.
c/o CREDIT SUISSE FIRST BOSTON CORPORATION
   Eleven Madison Avenue
                  New York, New York 10010-3629

Ladies and Gentlemen:
<PAGE>   2
      Fairchild Semiconductor Corporation, a Delaware corporation ("FAIRCHILD"),
proposes to issue and sell to Credit Suisse First Boston Corporation (acting
through its affiliate, Donaldson, Lufkin & Jenrette Securities Corporation),
Lehman Brothers Inc., Deutsche Bank Alex. Brown Inc. and Fleet Securities, Inc.
(collectively, the "INITIAL PURCHASERS"), upon the terms set forth in a purchase
agreement dated January 26, 2001 (the "PURCHASE AGREEMENT"), $350,000,000
aggregate principal amount of its 10-1/2% Senior Subordinated Notes Due February
1, 2009 (the "INITIAL SECURITIES"). The Initial Securities will be
unconditionally guaranteed on a senior subordinated basis by Fairchild
Semiconductor International, Inc., a Delaware corporation ("FSC SEMICONDUCTOR"),
and each existing and subsequently organized domestic subsidiary of Fairchild
who become guarantors under the Credit Agreement (as defined in the Purchase
Agreement) (together with FSC Semiconductor, the "GUARANTORS" and, together with
Fairchild, the "Company"). The Initial Securities will be issued pursuant to an
Indenture, dated as of January 31, 2001 (the "INDENTURE"), among Fairchild, the
Guarantors and United States Trust Company of New York, as trustee (the
"TRUSTEE"). As an inducement to the Initial Purchasers to enter into the
Purchase Agreement, the Company agrees with the several Initial Purchasers, for
the benefit of the holders of the Initial Securities (including, without
limitation, the Initial Purchasers), the Exchange Securities (as defined below)
and the Private Exchange Securities (as defined below) (collectively the
"HOLDERS"), as follows:

      1. Registered Exchange Offer. The Company shall, at its own cost, prepare
and, not later than 90 days after (or if the 90th day is not a business day, the
first business day thereafter) the date of original issue of the Initial
Securities (the "ISSUE DATE"), file with the Securities and Exchange Commission
(the "COMMISSION") a registration statement (the "EXCHANGE OFFER REGISTRATION
STATEMENT") on an appropriate form under the Securities Act of 1933, as amended
(the "SECURITIES ACT"), with respect to a proposed offer (the "REGISTERED
EXCHANGE OFFER") to the Holders of Transfer Restricted Securities (as defined in
Section 6 hereof), who are not prohibited by any law or policy of the Commission
from participating in the Registered Exchange Offer, to issue and deliver to
such Holders, in exchange for the Initial Securities, a like aggregate principal
amount of debt securities (the "EXCHANGE SECURITIES") issued by Fairchild and
guaranteed by the Guarantors under the Indenture and identical in all material
respects to the Initial Securities (except for the transfer restrictions
relating to the Initial Securities and the provisions relating to the matters
described in Section 6 hereof) that would be registered under the Securities
Act. The Company shall use its reasonable best efforts to cause such Exchange
Offer Registration Statement to become effective under the Securities Act within
150 days (or if the 150th day is not a business day, the first business day
thereafter) after the Issue Date of the Initial Securities and shall keep the
Exchange Offer Registration Statement effective for not less than 30 days (or
longer, if required by applicable law) after the date notice of the Registered
Exchange Offer is mailed to the Holders (such period being called the "EXCHANGE
OFFER REGISTRATION PERIOD").

      If the Company effects the Registered Exchange Offer, the Company will be
entitled to close the Registered Exchange Offer 30 days after the commencement
thereof; provided that the Company has accepted all the Initial Securities
theretofore validly tendered in accordance with the terms of the Registered
Exchange Offer.

      Following the declaration of the effectiveness of the Exchange Offer
Registration Statement, the Company shall promptly commence the Registered
Exchange Offer, it being the objective of such Registered Exchange Offer to
enable each Holder of Transfer Restricted Securities (as defined in Section 6
hereof) electing to exchange the Initial Securities for Exchange Securities
(assuming that such Holder is not an affiliate of the Company within the meaning
of the Securities Act, acquires the Exchange Securities in the ordinary course
of such Holder's business and has no arrangements with any person to participate
in the distribution of the Exchange Securities and is not prohibited by any law
or policy of the Commission from participating in the Registered Exchange Offer)
to trade such Exchange Securities from and after their receipt without any
limitations or restrictions under the Securities Act and without material
restrictions under the securities laws of the several states of the United
States.
<PAGE>   3
      The Company acknowledges that, pursuant to current interpretations by the
Commission's staff of Section 5 of the Securities Act, in the absence of an
applicable exemption therefrom, (i) each Holder which is a broker-dealer
electing to exchange Initial Securities, acquired for its own account as a
result of market making activities or other trading activities, for Exchange
Securities (an "EXCHANGING DEALER"), is required to deliver a prospectus
containing the information set forth in (a) Annex A hereto on the cover, (b)
Annex B hereto in the "Exchange Offer Procedures" section and the "Purpose of
the Exchange Offer" section, and (c) Annex C hereto in the "Plan of
Distribution" section of such prospectus in connection with a sale of any such
Exchange Securities received by such Exchanging Dealer pursuant to the
Registered Exchange Offer and (ii) an Initial Purchaser that elects to sell
Securities (as defined below) acquired in exchange for Initial Securities
constituting any portion of an unsold allotment is required to deliver a
prospectus containing the information required by Items 507 or 508 of Regulation
S-K under the Securities Act, as applicable, in connection with such sale.

      The Company shall use its reasonable best efforts to keep the Exchange
Offer Registration Statement effective and to amend and supplement the
prospectus contained therein, in order to permit such prospectus to be lawfully
delivered by all persons subject to the prospectus delivery requirements of the
Securities Act for such period of time as such persons must comply with such
requirements in order to resell the Exchange Securities; provided, however, that
(i) in the case where such prospectus and any amendment or supplement thereto
must be delivered by an Exchanging Dealer or an Initial Purchaser, such period
shall be the lesser of 180 days after the expiration date of the Registered
Exchange Offer and the date on which all Exchanging Dealers and the Initial
Purchasers have sold all Exchange Securities held by them (unless such period is
extended pursuant to Section 3(j) below) and (ii) the Company shall make such
prospectus and any amendment or supplement thereto available to any
broker-dealer for use in connection with any resale of any Exchange Securities
for a period not less than 180 days after the consummation of the Registered
Exchange Offer (or such shorter period during which Participating Broker-Dealers
(as defined below) are required by law to deliver such prospectus).

      If, upon consummation of the Registered Exchange Offer, any Initial
Purchaser holds Initial Securities acquired by it as part of its initial
distribution, the Company, simultaneously with the delivery of the Exchange
Securities pursuant to the Registered Exchange Offer, shall issue and deliver to
the Initial Purchaser upon the written request of such Initial Purchaser, in
exchange (each, a "PRIVATE EXCHANGE" and collectively, the "PRIVATE EXCHANGES")
for the Initial Securities held by such Initial Purchaser, a like principal
amount of debt securities issued by Fairchild and guaranteed by the Guarantors
under the Indenture and identical in all material respects (including the
existence of restrictions on transfer under the Securities Act and the
securities laws of the several states of the United States, but excluding
provisions relating to the matters described in Section 6 hereof) to the Initial
Securities (the "PRIVATE EXCHANGE SECURITIES"). The Initial Securities, the
Exchange Securities and the Private Exchange Securities are herein collectively
called the "SECURITIES".

      In connection with the Registered Exchange Offer, the Company shall:

            (a) mail to each Holder a copy of the prospectus forming part of the
      Exchange Offer Registration Statement, together with an appropriate letter
      of transmittal and related documents;

            (b) keep the Registered Exchange Offer open for not less than 30
      days (or longer, if required by applicable law) after the date notice
      thereof is mailed to the Holders;

            (c) utilize the services of a depositary for the Registered Exchange
      Offer with an address in the Borough of Manhattan, The City of New York,
      which may be the Trustee or an affiliate of the Trustee;

                                       3
<PAGE>   4
            (d) permit Holders to withdraw tendered Initial Securities at any
      time prior to the close of business, New York time, on the last business
      day on which the Registered Exchange Offer shall remain open; and

            (e) otherwise comply with all applicable laws.

      As soon as practicable after the close of the Registered Exchange Offer or
the Private Exchange, as the case may be, the Company shall:

            (x) accept for exchange all the Initial Securities validly
      tendered and not withdrawn pursuant to the Registered Exchange Offer
      and the Private Exchange;

            (y) deliver to the Trustee for cancellation all the Initial
      Securities so accepted for exchange; and

            (z) cause the Trustee to authenticate and deliver promptly to each
      Holder of the Initial Securities, Exchange Securities or Private Exchange
      Securities, as the case may be, equal in principal amount to the Initial
      Securities of such Holder so accepted for exchange.

      The Indenture will provide that the Exchange Securities will not be
subject to the transfer restrictions set forth in the Indenture and that all the
Securities will vote and consent together on all matters as one class and that
none of the Securities will have the right to vote or consent as a class
separate from one another on any matter.

      Interest on each Exchange Security and Private Exchange Security issued
pursuant to the Registered Exchange Offer and in the Private Exchange will
accrue from the last interest payment date on which interest was paid on the
Initial Securities surrendered in exchange therefor or, if no interest has been
paid on the Initial Securities, from the date of original issue of the Initial
Securities.

      Each Holder participating in the Registered Exchange Offer shall be
required to represent to the Company in writing that at the time of the
consummation of the Registered Exchange Offer (i) any Exchange Securities
received by such Holder will be acquired in the ordinary course of business,
(ii) such Holder will have no arrangements or understanding with any person to
participate in the distribution of the Securities within the meaning of the
Securities Act, (iii) such Holder is not an "AFFILIATE", as defined in Rule 405
of the Securities Act, of the Company or if it is an affiliate, such Holder will
comply with the registration and prospectus delivery requirements of the
Securities Act to the extent applicable, (iv) if such Holder is not a
broker-dealer, that it is not engaged in, and does not intend to engage in, the
distribution of the Exchange Securities and (v) if such Holder is a
broker-dealer, that it will receive Exchange Securities for its own account in
exchange for Initial Securities that were acquired as a result of market-making
activities or other trading activities and that it will be required to
acknowledge that it will deliver a prospectus in connection with any resale of
such Exchange Securities.

      Notwithstanding any other provisions hereof, the Company will ensure that
(i) any Exchange Offer Registration Statement and any amendment thereto and any
prospectus forming part thereof and any supplement thereto complies in all
material respects with the Securities Act and the rules and regulations
thereunder, (ii) any Exchange Offer Registration Statement and any amendment
thereto does not, when it becomes effective, contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading and (iii) any prospectus
forming part of any Exchange Offer Registration Statement, and any supplement to
such prospectus, does

                                       4
<PAGE>   5
not include an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading.

      2. Shelf Registration. If, (i) because of any change in law or in
applicable interpretations thereof by the staff of the Commission, the Company
is not permitted to effect a Registered Exchange Offer, as contemplated by
Section 1 hereof, (ii) the Registered Exchange Offer is not consummated within
190 days of the date of this Agreement, (iii) any Initial Purchaser so requests,
following consummation of the Registered Exchange Offer, with respect to the
Initial Securities (or the Private Exchange Securities) not eligible to be
exchanged for Exchange Securities in the Registered Exchange Offer and held by
it following consummation of the Registered Exchange Offer or (iv) any Holder
(other than an Exchanging Dealer) is not eligible to participate in the
Registered Exchange Offer or, in the case of any Holder (other than an
Exchanging Dealer) that participates in the Registered Exchange Offer, such
Holder does not receive freely tradeable Exchange Securities on the date of the
exchange, the Company shall take the following actions:

            (a) The Company shall, at its cost, promptly (but in no event more
      than 30 days after so required or requested pursuant to this Section 2)
      file with the Commission and thereafter shall use its reasonable best
      efforts to cause to be declared effective ((1) with respect to clause (i)
      above, on or prior to the 190th calendar day following the date hereof and
      (2) with respect to clauses (ii), (iii) and (iv) above, on or prior to the
      60th day after the date on which the Shelf Registration Statement is
      required to be filed) a registration statement (the "SHELF REGISTRATION
      STATEMENT" and, together with the Exchange Offer Registration Statement, a
      "REGISTRATION STATEMENT") on an appropriate form under the Securities Act
      relating to the offer and sale of the Transfer Restricted Securities (as
      defined in Section 6 hereof) by the Holders thereof from time to time in
      accordance with the methods of distribution set forth in the Shelf
      Registration Statement and Rule 415 under the Securities Act (hereinafter,
      the "SHELF REGISTRATION"); provided, however, that no Holder (other than
      an Initial Purchaser) shall be entitled to have the Securities held by it
      covered by such Shelf Registration Statement unless such Holder agrees in
      writing to be bound by all the provisions of this Agreement applicable to
      such Holder.

            (b) The Company shall use its reasonable best efforts to keep the
      Shelf Registration Statement continuously effective in order to permit the
      prospectus included therein to be lawfully delivered by the Holders of the
      relevant Securities, for a period of two years (or for such longer period
      if extended pursuant to Section 3(j) below) from the date of its
      effectiveness or such shorter period that will terminate when all the
      Securities covered by the Shelf Registration Statement (i) have been
      disposed of pursuant thereto or (ii) can be sold pursuant to Rule 144 or
      any successor rule thereof without limitations under clauses (c), (e), (f)
      and (h) of Rule 144 under the Securities Act, or any successor provisions
      thereof. The Company shall be deemed not to have used its reasonable best
      efforts to keep the Shelf Registration Statement effective during the
      requisite period if it voluntarily takes any action that would result in
      Holders of Securities covered thereby not being able to offer and sell
      such Securities during that period, unless such action is required by
      applicable law.

            (c) Notwithstanding any other provisions of this Agreement to the
      contrary, the Company shall cause the Shelf Registration Statement and the
      related prospectus and any amendment or supplement thereto, as of the
      effective date of the Shelf Registration Statement, amendment or
      supplement, (i) to comply in all material respects with the applicable
      requirements of the Securities Act and the rules and regulations of the
      Commission and (ii) not to contain any untrue statement of a material fact
      or omit to state a material fact required to be stated therein or

                                       5
<PAGE>   6
      necessary in order to make the statements therein, in light of the
      circumstances under which they were made, not misleading.

      3.  Registration Procedures.  In connection with any Shelf Registration
contemplated by Section 2 hereof and, to the extent applicable, any
Registered Exchange Offer contemplated by Section 1 hereof, the following
provisions shall apply:

            (a) The Company shall (i) furnish to each Initial Purchaser, prior
      to the filing thereof with the Commission, a copy of the Registration
      Statement and each amendment thereof and each supplement, if any, to the
      prospectus included therein and, in the event that an Initial Purchaser
      (with respect to any portion of an unsold allotment from the original
      offering) is participating in the Registered Exchange Offer or the Shelf
      Registration Statement, the Company shall use its reasonable best efforts
      to reflect in each such document, when so filed with the Commission, such
      comments as such Initial Purchaser reasonably may propose; (ii) include
      the information set forth in Annex A hereto on the cover, in Annex B
      hereto in the "Exchange Offer Procedures" section and the "Purpose of the
      Exchange Offer" section and in Annex C hereto in the "Plan of
      Distribution" section of the prospectus forming a part of the Exchange
      Offer Registration Statement and include the information set forth in
      Annex D hereto in the Letter of Transmittal delivered pursuant to the
      Registered Exchange Offer; (iii) if requested by an Initial Purchaser,
      include the information required by Items 507 or 508 of Regulation S-K
      under the Securities Act, as applicable, in the prospectus forming a part
      of the Exchange Offer Registration Statement; (iv) include within the
      prospectus contained in the Exchange Offer Registration Statement a
      section entitled "Plan of Distribution", reasonably acceptable to the
      Initial Purchasers, which shall contain a summary statement of the
      positions taken or policies made by the staff of the Commission with
      respect to the potential "underwriter" status of any broker-dealer that is
      the beneficial owner (as defined in Rule 13d-3 under the Securities
      Exchange Act of 1934, as amended (the "EXCHANGE ACT")) of Exchange
      Securities received by such broker-dealer in the Registered Exchange Offer
      (a "PARTICIPATING BROKER-DEALER"), whether such positions or policies have
      been publicly disseminated by the staff of the Commission or such
      positions or policies, in the reasonable judgment of the Initial
      Purchasers based upon advice of counsel (which may be in-house counsel),
      represent the prevailing views of the staff of the Commission; and (v) in
      the case of a Shelf Registration Statement, include the names of the
      Holders who propose to sell Securities pursuant to the Shelf Registration
      Statement as selling securityholders.

            (b) The Company shall advise (and confirm such advice in writing if
      requested by the recipient of the advice) the Initial Purchasers, the
      Holders of the Securities and any Participating Broker-Dealer from whom
      the Company has received prior written notice that it will be a
      Participating Broker-Dealer in the Registered Exchange Offer (which notice
      pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction
      to suspend the use of the prospectus until the requisite changes have been
      made):

                  (i) when the Registration Statement or any amendment thereto
            has not been filed with the Commission and when the Registration
            Statement or any post-effective amendment thereto has become
            effective;

                  (ii) of any request by the Commission for amendments or
            supplements to the Registration Statement or the prospectus
            included therein or for additional information;

                                       6
<PAGE>   7
                  (iii) of the issuance by the Commission of any stop order
            suspending the effectiveness of the Registration Statement or the
            initiation of any proceedings for that purpose;

                  (iv) of the receipt by the Company or its legal counsel of any
            notification with respect to the suspension of the qualification of
            the Securities for sale in any jurisdiction or the initiation or
            threatening of any proceeding for such purpose; and

                  (v) of the happening of any event that requires the Company to
            make changes in the Registration Statement or the prospectus in
            order that the Registration Statement or the prospectus does not
            contain an untrue statement of a material fact nor omit to state a
            material fact required to be stated therein or necessary to make the
            statements therein (in the case of the prospectus, in light of the
            circumstances under which they were made) not misleading.

            (c) The Company shall make every reasonable effort to obtain the
      withdrawal, at the earliest possible time, of any order suspending the
      effectiveness of the Registration Statement.

            (d) The Company shall furnish to each Holder of Securities included
      within the coverage of the Shelf Registration, without charge, at least
      one copy of the Shelf Registration Statement and any post-effective
      amendment thereto, including financial statements and schedules, and, if
      the Holder so requests in writing, all exhibits thereto (including those,
      if any, incorporated by reference).

            (e) The Company shall deliver to each Exchanging Dealer and each
      Initial Purchaser, and to any other Holder who so requests, without
      charge, at least one copy of the Exchange Offer Registration Statement and
      any post-effective amendment thereto, including financial statements and
      schedules, and, if any Initial Purchaser or any such Holder requests, all
      exhibits thereto (including those incorporated by reference).

            (f) The Company shall, during the Shelf Registration Period, deliver
      to each Holder of Securities included within the coverage of the Shelf
      Registration, without charge, as many copies of the prospectus (including
      each preliminary prospectus) included in the Shelf Registration Statement
      and any amendment or supplement thereto as such person may reasonably
      request. The Company consents, subject to the provisions of this
      Agreement, to the use of the prospectus or any amendment or supplement
      thereto by each of the selling Holders of the Securities in connection
      with the offering and sale of the Securities covered by the prospectus, or
      any amendment or supplement thereto, included in the Shelf Registration
      Statement.

            (g) The Company shall deliver to each Initial Purchaser, any
      Exchanging Dealer, any Participating Broker-Dealer and such other persons
      required to deliver a prospectus following the Registered Exchange Offer,
      without charge, as many copies of the final prospectus included in the
      Exchange Offer Registration Statement and any amendment or supplement
      thereto as such persons may reasonably request. The Company consents,
      subject to the provisions of this Agreement, to the use of the prospectus
      or any amendment or supplement thereto by any Initial Purchaser, if
      necessary, any Participating Broker-Dealer and such other persons required
      to deliver a prospectus following the Registered Exchange Offer in
      connection with the offering and sale of the Exchange Securities covered
      by the prospectus, or any amendment or supplement thereto, included in
      such Exchange Offer Registration Statement.

                                       7
<PAGE>   8
            (h) Prior to any public offering of the Securities pursuant to any
      Registration Statement, the Company shall register or qualify or cooperate
      with the Holders of the Securities included therein and their respective
      counsel in connection with the registration or qualification of the
      Securities for offer and sale under the securities or "blue sky" laws of
      such states of the United States as any Holder of the Securities
      reasonably requests in writing and do any and all other acts or things
      necessary or advisable to enable the offer and sale in such jurisdictions
      of the Securities covered by such Registration Statement; provided,
      however, that the Company shall not be required to (i) qualify generally
      to do business in any jurisdiction where it is not then so qualified or
      (ii) take any action which would subject it to general service of process
      or to taxation in any jurisdiction where it is not then so subject.

            (i) The Company shall cooperate with the Holders of the Securities
      to facilitate the timely preparation and delivery of certificates
      representing the Securities to be sold pursuant to any Registration
      Statement free of any restrictive legends and in such denominations and
      registered in such names as the Holders may request a reasonable period of
      time prior to sales of the Securities pursuant to such Registration
      Statement.

            (j) Upon the occurrence of any event contemplated by paragraphs (ii)
      through (v) of Section 3(b) above during the period for which the Company
      is required to maintain an effective Registration Statement, the Company
      shall promptly prepare and file a post-effective amendment to the
      Registration Statement or a supplement to the related prospectus and any
      other required document so that, as thereafter delivered to Holders of the
      Securities or purchasers of Securities, the prospectus will not contain an
      untrue statement of a material fact or omit to state any 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.
      If the Company notifies the Initial Purchasers, the Holders of the
      Securities and any known Participating Broker-Dealer in accordance with
      paragraphs (ii) through (v) of Section 3(b) above to suspend the use of
      the prospectus until the requisite changes to the prospectus have been
      made, then the Initial Purchasers, the Holders of the Securities and any
      such Participating Broker-Dealers shall suspend use of such prospectus,
      and the period of effectiveness of the Shelf Registration Statement
      provided for in Section 2(b) above and the Exchange Offer Registration
      Statement provided for in Section 1 above shall each be extended by the
      number of days from and including the date of the giving of such notice to
      and including the date when the Initial Purchasers, the Holders of the
      Securities and any known Participating Broker-Dealer shall have received
      such amended or supplemented prospectus pursuant to this Section 3(j).

            (k) Not later than the effective date of the applicable Registration
      Statement, the Company will provide a CUSIP number for the Initial
      Securities, the Exchange Securities or the Private Exchange Securities, as
      the case may be, and provide the applicable trustee with printed
      certificates for the Initial Securities, the Exchange Securities or the
      Private Exchange Securities, as the case may be, in a form eligible for
      deposit with The Depository Trust Company.

            (l) The Company will comply with all rules and regulations of the
      Commission to the extent and so long as they are applicable to the
      Registered Exchange Offer or the Shelf Registration and will make
      generally available to its security holders copies of such reports which
      it is required to file with the Commission pursuant to Section 13 or 15(d)
      of the Exchange Act.

            (m) The Company shall cause the Indenture to be qualified under the
      Trust Indenture Act of 1939, as amended, in a timely manner and containing
      such changes, if any, as shall be necessary for such qualification. In the
      event that such qualification would require the

                                       8
<PAGE>   9
      appointment of a new trustee under the Indenture, the Company shall
      appoint a new trustee thereunder pursuant to the applicable provisions of
      the Indenture.

            (n) The Company may require each Holder of Securities to be sold
      pursuant to the Shelf Registration Statement to furnish to the Company
      such information regarding the Holder and the distribution of the
      Securities as the Company may from time to time reasonably require for
      inclusion in the Shelf Registration Statement, and the Company may exclude
      from such registration the Securities of any Holder that unreasonably
      fails to furnish such information within a reasonable time after receiving
      such request.

            (o) The Company shall enter into such customary agreements
      (including, if requested, an underwriting agreement in customary form) and
      take all such other action, if any, as any Holder of the Securities shall
      reasonably request in order to facilitate the disposition of the
      Securities pursuant to any Shelf Registration.

            (p) In the case of any Shelf Registration, the Company shall (i)
      make reasonably available for inspection by the Holders of the Securities,
      any underwriter participating in any disposition pursuant to the Shelf
      Registration Statement and any attorney, accountant or other agent
      retained by the Holders of the Securities or any such underwriter all
      relevant financial and other records, pertinent corporate documents and
      properties of the Company and (ii) cause the Company's officers,
      directors, employees, accountants and auditors to supply all relevant
      information reasonably requested by the Holders of the Securities or any
      such underwriter, attorney, accountant or agent in connection with the
      Shelf Registration Statement, in each case, as shall be reasonably
      necessary to enable such persons, to conduct a reasonable investigation
      within the meaning of Section 11 of the Securities Act; provided, however,
      that the foregoing inspection and information gathering shall be
      coordinated, on behalf of the Initial Purchasers by you and on behalf of
      the other parties, by one counsel designated by and on behalf of such
      other parties as described in Section 4 hereof and provided, further, that
      as to any information that is designated in writing by the Company, in
      good faith, as confidential at the time of delivery, such information
      shall be kept confidential by the Holder or by any such underwriter,
      attorney, accountant or other agent.

            (q) In the case of any Shelf Registration, the Company, if requested
      by any Holder of Securities covered thereby, shall cause (i) its counsel
      to deliver an opinion and updates thereof relating to the Securities in
      customary form addressed to such Holders and the managing underwriters, if
      any, thereof and dated, in the case of the initial opinion, the effective
      date of such Shelf Registration Statement (it being agreed that the
      matters to be covered by such opinion shall include such matters as are
      customarily included in opinions requested in underwritten offerings of
      such type); (ii) its officers to execute and deliver all customary
      documents and certificates and updates thereof reasonably requested by any
      underwriters of the applicable Securities and (iii) its independent public
      accountants and the independent public accountants with respect to any
      other entity for which financial information is provided in the Shelf
      Registration Statement to provide to the selling Holders of the applicable
      Securities and any underwriter therefor a comfort letter in customary form
      and covering matters of the type customarily covered in comfort letters in
      connection with primary underwritten offerings, subject to receipt of
      appropriate documentation as contemplated, and only if permitted, by
      Statement of Auditing Standards No. 72.

            (r) In the case of the Registered Exchange Offer, if requested by
      any Initial Purchaser or any known Participating Broker-Dealer, the
      Company shall cause (i) its counsel to deliver to such Initial Purchaser
      or such Participating Broker-Dealer a signed opinion in the form set forth
      in

                                       9
<PAGE>   10
      Sections 6(f) and 6(g) of the Purchase Agreement with such changes as are
      customary in connection with the preparation of a Registration Statement
      and (ii) its independent public accountants and the independent public
      accountants with respect to any other entity for which financial
      information is provided in the Registration Statement to deliver to such
      Initial Purchaser or such Participating Broker-Dealer a comfort letter, in
      customary form, meeting the requirements as to the substance thereof as
      set forth in Section 6(a) of the Purchase Agreement, with appropriate date
      changes.

            (s) If a Registered Exchange Offer or a Private Exchange is to be
      consummated, upon delivery of the Initial Securities by Holders to the
      Company (or to such other Person as directed by the Company) in exchange
      for the Exchange Securities or the Private Exchange Securities, as the
      case may be, the Company shall mark, or cause to be marked, on the Initial
      Securities so exchanged that such Initial Securities are being canceled in
      exchange for the Exchange Securities or the Private Exchange Securities,
      as the case may be; in no event shall the Initial Securities be marked as
      paid or otherwise satisfied.

            (t) The Company will use its reasonable best efforts to (a) if the
      Initial Securities have been rated prior to the initial sale of such
      Initial Securities, confirm such ratings will apply to the Securities
      covered by a Registration Statement or (b) if the Initial Securities were
      not previously rated, cause the Securities covered by a Registration
      Statement to be rated with the appropriate rating agencies, if so
      requested by Holders of a majority in aggregate principal amount of
      Securities covered by such Registration Statement, or by the managing
      underwriters, if any.

            (u) In the event that any broker-dealer registered under the
      Exchange Act shall underwrite any Securities or participate as a member of
      an underwriting syndicate or selling group or "assist in the distribution"
      (within the meaning of the Conduct Rules (the "RULES") of the National
      Association of Securities Dealers, Inc. ("NASD")) thereof, whether as a
      Holder of such Securities or as an underwriter, a placement or sales agent
      or a broker or dealer in respect thereof, or otherwise, the Company shall
      use its reasonable best efforts to assist such broker-dealer in complying
      with the requirements of such Rules, including, without limitation, by (i)
      if such Rules, including Rule 2720, shall so require, engaging a
      "qualified independent underwriter" (as defined in Rule 2720) to
      participate in the preparation of the Registration Statement relating to
      such Securities, to exercise usual standards of due diligence in respect
      thereto and, if any portion of the offering contemplated by such
      Registration Statement is an underwritten offering or is made through a
      placement or sales agent, to recommend the yield of such Securities, (ii)
      indemnifying any such qualified independent underwriter to the extent of
      the indemnification of underwriters provided in Section 5 hereof and (iii)
      providing such information to such broker-dealer as may be required in
      order for such broker-dealer to comply with the requirements of the Rules.

            (v) The Company shall use its reasonable best efforts to take all
      other steps necessary to effect the registration of the Securities covered
      by a Registration Statement contemplated hereby.

      4. Registration Expenses. The Company shall bear all fees and expenses
incurred in connection with the performance of its obligations under Sections 1
through 3 hereof (including the reasonable fees and expenses, if any, of
Cravath, Swaine & Moore, counsel for the Initial Purchasers, incurred in
connection with the Registered Exchange Offer), whether or not the Registered
Exchange Offer or a Shelf Registration is filed or becomes effective, and, in
the event of a Shelf Registration, shall bear or reimburse the Holders of the
Securities covered thereby for the reasonable fees and disbursements of one firm
of counsel designated by the Holders of a majority in principal amount of the
Securities covered thereby to act as counsel for the Holders of the Securities
in connection therewith.

                                       10
<PAGE>   11
      5. Indemnification. (a) The Company agrees to indemnify and hold harmless
each Holder of the Securities, any Participating Broker-Dealer and each person,
if any, who controls such Holder or such Participating Broker-Dealer within the
meaning of the Securities Act or the Exchange Act (each Holder, any
Participating Broker-Dealer and such controlling persons are referred to
collectively as the "Indemnified Parties") from and against any losses, claims,
damages or liabilities, joint or several, or any actions in respect thereof
(including, but not limited to, any losses, claims, damages, liabilities or
actions relating to purchases and sales of the Securities) to which each
Indemnified Party may become subject under the Securities Act, the Exchange Act
or otherwise, insofar as such losses, claims, damages, liabilities or actions
arise out of or are based upon (i) any untrue statement or alleged untrue
statement of a material fact contained in a Registration Statement or prospectus
or in any amendment or supplement thereto or in any prospectus relating to a
Shelf Registration, or (ii) 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 shall reimburse, as incurred, the Indemnified
Parties for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such loss, claim, damage,
liability or action in respect thereof; provided, however, that (i) the Company
shall not be liable in any such case to the extent that such loss, claim, damage
or liability arises out of or is based upon any untrue statement or alleged
untrue statement or omission or alleged omission made in a Registration
Statement or prospectus or in any amendment or supplement thereto or in any
preliminary prospectus relating to a Shelf Registration in reliance upon and in
conformity with written information pertaining to such Holder and furnished to
the Company by or on behalf of such Holder specifically for inclusion therein
and (ii) with respect to any untrue statement or omission or alleged untrue
statement or omission made in any preliminary prospectus relating to a Shelf
Registration Statement, the indemnity agreement contained in this subsection (a)
shall not inure to the benefit of any Holder or Participating Broker-Dealer from
whom the person asserting any such losses, claims, damages or liabilities
purchased the Securities concerned, to the extent that a prospectus relating to
such Securities was required to be delivered by such Holder or Participating
Broker-Dealer under the Securities Act in connection with such purchase and any
such loss, claim, damage or liability of such Holder or Participating
Broker-Dealer results from the fact that there was not sent or given to such
person, at or prior to the written confirmation of the sale of such Securities
to such person, a copy of the amended, supplemented or final prospectus if the
Company had previously furnished copies thereof to such Holder or Participating
Broker-Dealer; provided further, however, that this indemnity agreement will be
in addition to any liability which the Company may otherwise have to such
Indemnified Party. The Company shall also indemnify underwriters, their officers
and directors and each person who controls such underwriters within the meaning
of the Securities Act or the Exchange Act to the same extent as provided above
with respect to the indemnification of the Holders of the Securities if
requested by such Holders.

      (b) Each Holder of the Securities, severally and not jointly, will
indemnify and hold harmless (i) the Company and each person, if any, who
controls the Company within the meaning of the Securities Act or the Exchange
Act, (ii) each of their respective directors and (iii) each of their respective
officers who signs a Registration Statement from and against any losses, claims,
damages or liabilities or any actions in respect thereof, to which the Company
or any such controlling person, director or officer may become subject under the
Securities Act, the Exchange Act or otherwise, insofar as such losses, claims,
damages, liabilities or actions arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in a
Registration Statement or prospectus or in any amendment or supplement thereto
or in any preliminary prospectus relating to a Shelf Registration, or arise out
of or are based upon the omission or alleged omission to state therein a
material fact necessary to make the statements therein not misleading, but in
each case only to the extent that the untrue statement or omission or alleged
untrue statement or omission was made in reliance upon and in conformity with
written information pertaining to such Holder and furnished to the Company by or
on behalf of such Holder

                                       11
<PAGE>   12
specifically for inclusion therein; and, subject to the limitation set forth
immediately preceding this clause, shall reimburse, as incurred, the Company for
any legal or other expenses reasonably incurred by the Company or any such
controlling person in connection with investigating or defending any loss,
claim, damage, liability or action in respect thereof. This indemnity agreement
will be in addition to any liability which such Holder may otherwise have to the
Company or any of its controlling persons.

      (c) Promptly after receipt by an indemnified party under this Section 5 of
notice of the commencement of any action or proceeding (including a governmental
investigation), such indemnified party will, if a claim in respect thereof is to
be made against the indemnifying party under this Section 5, notify the
indemnifying party of the commencement thereof; but the omission so to notify
the indemnifying party (i) will not relieve it from liability under paragraph
(a) or (b) above unless and to the extent it did not otherwise learn of such
action and such failure results in the forfeiture by the indemnifying party of
substantial rights and defenses and (ii) will not, in any event, relieve the
indemnifying party from any obligations to any indemnified party other than the
indemnification obligation provided in paragraph (a) or (b) above. In case any
such action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be
entitled to participate therein and, to the extent that it may wish, jointly
with any other indemnifying party similarly notified, to assume the defense
thereof, with counsel reasonably satisfactory to such indemnified party (who
shall not, except with the consent of the indemnified party, be counsel to the
indemnifying party), and after notice from the indemnifying party to such
indemnified party of its election so to assume the defense thereof the
indemnifying party will not be liable to such indemnified party under this
Section 5 for any legal or other expenses, other than reasonable costs of
investigation, subsequently incurred by such indemnified party in connection
with the defense thereof. No indemnifying party shall, without the prior written
consent of the indemnified party, effect any settlement of any pending or
threatened action in respect of which any indemnified party is or could have
been a party and indemnity could have been sought hereunder by such indemnified
party unless such settlement includes an unconditional release of such
indemnified party from all liability on any claims that are the subject matter
of such action. No indemnifying party shall be liable for any settlement of any
such action effected without its written consent (which consent shall not be
unreasonably withheld), but if settled with its written consent or if there be a
final judgment for the plaintiff in any such action, the indemnifying party
agrees to indemnify and hold harmless any indemnified party from and against any
loss or liability by reason of such settlement or judgment.

      (d) If the indemnification provided for in this Section 5 is unavailable
or insufficient to hold harmless an indemnified party under subsections (a) or
(b) above, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of the losses, claims, damages or
liabilities (or actions in respect thereof) referred to in subsection (a) or (b)
above (i) in such proportion as is appropriate to reflect the relative benefits
received by the indemnifying party or parties on the one hand and the
indemnified party on the other from the exchange of the Securities, pursuant to
the Registered Exchange Offer, or (ii) if the allocation provided by the
foregoing clause (i) is not permitted by applicable law, in such proportion as
is appropriate to reflect not only the relative benefits referred to in clause
(i) above but also the relative fault of the indemnifying party or parties on
the one hand and the indemnified party on the other in connection with the
statements or omissions that resulted in such losses, claims, damages or
liabilities (or actions in respect thereof) as well as any other relevant
equitable considerations. The relative fault of the parties shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a
material fact relates to information supplied by the Company on the one hand or
such Holder or such other indemnified party, as the case may be, on the other,
and the parties' relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The amount paid by
an indemnified party as a result of the losses, claims, damages or liabilities
referred to in the first sentence of this subsection (d) shall be deemed to
include any legal or other expenses reasonably incurred

                                       12
<PAGE>   13
by such indemnified party in connection with investigating or defending any
action or claim which is the subject of this subsection (d). Notwithstanding any
other provision of this Section 5(d), the Holders of the Securities shall not be
required to contribute any amount in excess of the amount by which the net
proceeds received by such Holders from the sale of the Securities pursuant to a
Registration Statement exceeds the amount of damages which such Holders have
otherwise been required to pay by reason of such untrue or alleged untrue
statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this paragraph (d), each person,
if any, who controls such indemnified party within the meaning of the Securities
Act or the Exchange Act shall have the same rights to contribution as such
indemnified party and each person, if any, who controls the Company within the
meaning of the Securities Act or the Exchange Act shall have the same rights to
contribution as the Company.

      (e) The agreements contained in this Section 5 shall survive the sale of
the Securities pursuant to a Registration Statement and shall remain in full
force and effect, regardless of any termination or cancellation of this
Agreement or any investigation made by or on behalf of any indemnified party.

      6.  Additional Interest Under Certain Circumstances.  (a)  Additional
interest (the "ADDITIONAL INTEREST") with respect to the Initial Securities
and the Private Exchange Securities shall be assessed as follows if any of
the following events occur (each such event in clauses (i) through (vi) below
a "REGISTRATION DEFAULT"):

            (i)  If by May 1, 2001, the Exchange Offer Registration Statement
      has not been filed with the Commission;

            (ii) If by June 30, 2001, neither the Registered Exchange Offer is
      declared effective under the Securities Act nor, if required in lieu
      thereof, the Shelf Registration Statement is declared effective by the
      Commission;

            (iii) If the Exchange Offer is not consummated on or before the 40th
      day after the Exchange Offer Registration Statement is declared effective;

            (iv) If the Company is obligated to file the Shelf Registration
      Statement, the Company fails to file the Shelf Registration Statement with
      the Commission on or prior to the 30th day after the date (the "SHELF
      FILING DATE") on which the obligation to file a Shelf Registration
      Statement arises;

            (v) If the Company is obligated to file a Shelf Registration
      Statement pursuant to Section 2(a)(2) above, the Shelf Registration
      Statement is not declared effective on or prior to the 60th day after the
      Shelf Filing Date; or

            (vi) After the Exchange Offer Registration Statement or the Shelf
      Registration Statement, as the case may be, is declared effective, such
      Registration Statement thereafter ceases to be effective or usable (except
      as permitted in paragraph (b)).

Additional Interest shall accrue on the Initial Securities and the Private
Exchange Securities over and above the interest set forth in the title of the
Initial Securities from and including the date on which any such Registration
Default shall occur to but excluding the date on which all such Registration
Defaults have been cured, at a rate of 0.50% per year (the "ADDITIONAL INTEREST
RATE") for the first 90-day period immediately following the occurrence of such
Registration Default. The Additional Interest Rate shall

                                       13
<PAGE>   14
increase by an additional 0.50% per year with respect to each subsequent 90-day
period until all Registration Defaults have been cured, up to a maximum
Additional Interest Rate of 2.0% per year.

      (b) A Registration Default referred to in Section 6(a)(vi) hereof shall be
deemed not to have occurred and be continuing in relation to a Shelf
Registration Statement or the related prospectus if (i) such Registration
Default has occurred solely as a result of (x) the filing of a post-effective
amendment to such Shelf Registration Statement to incorporate annual audited
financial information with respect to the Company where such post-effective
amendment is not yet effective and needs to be declared effective to permit
Holders to use the related prospectus or (y) other material events, with respect
to the Company that would need to be described in such Shelf Registration
Statement or the related prospectus and (ii) in the case of clause (y), the
Company is proceeding promptly and in good faith to amend or supplement such
Shelf Registration Statement and related prospectus to describe such events;
provided, however, that in any case if such Registration Default occurs for a
continuous period in excess of 30 days, Additional Interest shall be payable in
accordance with the above paragraph from the day following such 30 day period
until the date on which such Registration Default is cured.

      (c) Any amounts of Additional Interest due pursuant to clause (i), (ii),
(iii), (iv), (v) or (vi) of Section 6(a) above will be payable in cash on the
regular interest payment dates with respect to the Securities. The amount of
Additional Interest will be determined by multiplying the applicable Additional
Interest rate by the principal amount of the Initial Securities or Private
Exchange Securities, as the case may be, multiplied by a fraction, the numerator
of which is the number of days such Additional Interest rate was applicable
during such period (determined on the basis of a 360-day year comprised of
twelve 30-day months), and the denominator of which is 360.

      (d) "TRANSFER RESTRICTED SECURITIES" means each Security until (i) the
date on which such Security has been exchanged by a person other than a
broker-dealer for a freely transferable Exchange Security in the Registered
Exchange Offer, (ii) following the exchange by a broker-dealer in the Registered
Exchange Offer of an Initial Security for an Exchange Note, the date on which
such Exchange Note is sold to a purchaser who receives from such broker-dealer
on or prior to the date of such sale a copy of the prospectus contained in the
Exchange Offer Registration Statement, (iii) the date on which such Security has
been effectively registered under the Securities Act and disposed of in
accordance with the Shelf Registration Statement or (iv) the date on which such
Security is distributed to the public pursuant to Rule 144 under the Securities
Act or is saleable pursuant to Rule 144(k) under the Securities Act.

      7. Rules 144 and 144A. The Company shall use its reasonable best efforts
to file the reports required to be filed by it under the Securities Act and the
Exchange Act in a timely manner and, if at any time the Company is not required
to file such reports, it will, upon the request of any Holder of Transfer
Restricted Securities, make publicly available other information so long as
necessary to permit sales of their securities pursuant to Rules 144 and 144A.
The Company covenants that it will take such further action as any Holder of
Transfer Restricted Securities may reasonably request, all to the extent
required from time to time to enable such Holder to sell Transfer Restricted
Securities without registration under the Securities Act within the limitation
of the exemptions provided by Rules 144 and 144A (including the requirements of
Rule 144A(d)(4)). The Company will provide a copy of this Agreement to
prospective purchasers of Initial Securities identified to the Company by the
Initial Purchasers upon request. Upon the request of any Holder of Initial
Securities, the Company shall deliver to such Holder a written statement as to
whether it has complied with such requirements. Notwithstanding the foregoing,
nothing in this Section 7 shall be deemed to require the Company to register any
of its securities pursuant to the Exchange Act.

                                       14
<PAGE>   15
      8. Underwritten Registrations. If any of the Transfer Restricted
Securities covered by any Shelf Registration are to be sold in an underwritten
offering, the investment banker or investment bankers and manager or managers
that will administer the offering ("MANAGING UNDERWRITERS") will be selected by
the Holders of a majority in aggregate principal amount of such Transfer
Restricted Securities to be included in such offering.

      No person may participate in any underwritten registration hereunder
unless such person (i) agrees to sell such person's Transfer Restricted
Securities on the basis reasonably provided in any underwriting arrangements
approved by the persons entitled hereunder to approve such arrangements and (ii)
completes and executes all questionnaires, powers of attorney, indemnities,
underwriting agreements and other documents reasonably required under the terms
of such underwriting arrangements.

      9.  Miscellaneous.

      (a) Amendments and Waivers. The provisions of this Agreement may not be
amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, except by the Company and the written
consent of the Holders of a majority in principal amount of the Securities
affected by such amendment, modification, supplement, waiver or consents.

      (b) Notices. All notices and other communications provided for or
permitted hereunder shall be made in writing by hand delivery, first-class mail,
facsimile transmission, or air courier which guarantees overnight delivery:

            (1) if to a Holder of the Securities, at the most current address
given by such Holder to the Company.

            (2)  if to the Initial Purchasers;

                        Credit Suisse First Boston Corporation
                        Eleven Madison Avenue
                        New York, NY 10010-3629
                        Fax No.:  (212) 325-8278
                        Attn.:  Transactions Advisory Group

      with a copy to:   Cravath, Swaine & Moore
                        Worldwide Plaza
                        825 Eighth Avenue
                        New York, NY 10019-7475
                        Fax No.:  (212) 474-3700
                        Attn.: Kris F. Heinzelman, Esq.

            (3)  if to the Company, at its address as follows:

                        Fairchild Semiconductor Corporation
                        82 Running Hill Road
                        South Portland, ME 04106
                        Fax No. (207) 761-6020
                        Attn.: Daniel E. Boxer, Esq.

                                       15
<PAGE>   16
      with copies to:   Gibson, Dunn & Crutcher LLP
                        200 Park Avenue
                        New York, NY 10166
                        Fax No.: (212) 351-4035
                        Attn.: Steven R. Finley, Esq.

      All such notices and communications shall be deemed to have been duly
given: at the time delivered by hand, if personally delivered; three business
days after being deposited in the mail, postage prepaid, if mailed; when receipt
is acknowledged by recipient's facsimile machine operator, if sent by facsimile
transmission; and on the day delivered, if sent by overnight air courier
guaranteeing next day delivery.

      (c) No Inconsistent Agreements. The Company has not, as of the date
hereof, entered into, nor shall it, on or after the date hereof, enter into, any
agreement with respect to its securities that is inconsistent with the rights
granted to the Holders herein or otherwise conflicts with the provisions hereof.

      (d) Successors and Assigns.  This Agreement shall be binding upon the
successors and assigns of each of the parties.

      (e) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement.

      (f) Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

      (g) Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
PRINCIPLES OF CONFLICTS OF LAWS.

      (h) Severability. If any one or more of the provisions contained herein,
or the application thereof in any circumstance, is held invalid, illegal or
unenforceable, the validity, legality and enforceability of any such provision
in every other respect and of the remaining provisions contained herein shall
not be affected or impaired thereby.

      (i) Securities Held by the Company. Whenever the consent or approval of
Holders of a specified percentage of principal amount of Securities is required
hereunder, Securities held by the Company or its affiliates (other than
subsequent Holders of Securities if such subsequent Holders are deemed to be
affiliates solely by reason of their holdings of such Securities) shall not be
counted in determining whether such consent or approval was given by the Holders
of such required percentage.

                                       16
<PAGE>   17
      If the foregoing is in accordance with your understanding of our
agreement, please sign and return to Fairchild a counterpart hereof, whereupon
this instrument, along with all counterparts, will become a binding agreement
among the several Initial Purchasers, Fairchild and the Guarantors in accordance
with its terms.

                                    Very truly yours,

                                    FAIRCHILD SEMICONDUCTOR CORPORATION,

                                      by
                                          /s/ David A. Henry
                                          -------------------------------------
                                          Name:  David A. Henry
                                          Title: Vice President, Controller

                                    FAIRCHILD SEMICONDUCTOR INTERNATIONAL,
                                      INC.,

                                      by
                                          /s/ David A. Henry
                                          -------------------------------------
                                          Name:  David A. Henry
                                          Title: Vice President, Controller

                                    FAIRCHILD SEMICONDUCTOR CORPORATION OF
                                    CALIFORNIA,

                                      by
                                          /s/ David A. Henry
                                          -------------------------------------
                                          Name:  David A. Henry
                                          Title: Vice President

                                    QT OPTOELECTRONICS, INC.,

                                       by
                                          /s/ Stephen C. Sherman
                                          -------------------------------------
                                          Name:  Stephen C. Sherman
                                          Title: President, CEO and
                                                 Chairman of the Board

                                    QT OPTOELECTRONICS,

                                       by
                                          /s/ Stephen C. Sherman
                                          -------------------------------------
                                          Name:  Stephen C. Sherman
                                          Title: President, CEO and
                                                 Chairman of the Board

                                       17
<PAGE>   18

                                    KOTA MICROCIRCUITS, INC.,

                                      by
                                          /s/ David A. Henry
                                          -------------------------------------
                                          Name:  David A. Henry
                                          Title: Vice President

The foregoing Registration
Rights Agreement is hereby confirmed
and accepted as of the date first
above written.

Credit Suisse First Boston Corporation (acting through its
affiliate Donaldson, Lufkin & Jenrette Securities Corporation)
Lehman Brothers Inc.
Deutsche Banc Alex. Brown Inc.
Fleet Securities, Inc.

      by:

      CREDIT SUISSE FIRST BOSTON
      CORPORATION,

        by
         /s/ William Spiro
         -----------------------------------
         Name:  William Spiro
         Title: Director

      DONALDSON, LUFKIN & JENRETTE
      SECURITIES CORPORATION,

        by
         /s/ William Spiro
         -----------------------------------
         Name:  William Spiro
         Title: Senior Vice President

                                       18
<PAGE>   19
                                                                         ANNEX A

      Each broker-dealer that receives Exchange Securities for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Securities. The Letter
of Transmittal states that by so acknowledging and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act. This Prospectus, as it may be amended or
supplemented from time to time, may be used by a broker-dealer in connection
with resales of Exchange Securities received in exchange for Initial Securities
where such Initial Securities were acquired by such broker-dealer as a result of
market-making activities or other trading activities. The Company has agreed
that, for a period of 180 days after the Expiration Date (as defined herein), it
will make this Prospectus available to any broker-dealer for use in connection
with any such resale (or such shorter period during which participating
broker-dealers are required by law to deliver such prospectuses). See "Plan of
Distribution."

                                       19
<PAGE>   20
                                                                         ANNEX B

      Each broker-dealer that receives Exchange Securities for its own account
in exchange for Initial Securities, where such Initial Securities were acquired
by such broker-dealer as a result of market-making activities or other trading
activities, must acknowledge that it will deliver a prospectus in connection
with any resale of such Exchange Securities. See "Plan of Distribution."

                                       20
<PAGE>   21
                                                                         ANNEX C

                              PLAN OF DISTRIBUTION

      Each broker-dealer that receives Exchange Securities for its own account
pursuant to the Exchange Offer must acknowledge that it will deliver a
prospectus in connection with any resale of such Exchange Securities. This
Prospectus, as it may be amended or supplemented from time to time, may be used
by a broker-dealer in connection with resales of Exchange Securities received in
exchange for Initial Securities where such Initial Securities were acquired as a
result of market-making activities or other trading activities. The Company has
agreed that, for a period of 180 days after the Expiration Date (or such shorter
period during which participating broker-dealers are required by law to deliver
such prospectus), it will make this prospectus, as amended or supplemented,
available to any broker-dealer for use in connection with any such resale. In
addition, until       , 200 , all dealers effecting transactions in the Exchange
Securities may be required to deliver a prospectus.(1)

      The Company will not receive any proceeds from any sale of Exchange
Securities by broker-dealers. Exchange Securities received by broker-dealers for
their own account pursuant to the Exchange Offer may be sold from time to time
in one or more transactions in the over-the-counter market, in negotiated
transactions, through the writing of options on the Exchange Securities or a
combination of such methods of resale, at market prices prevailing at the time
of resale, at prices related to such prevailing market prices or negotiated
prices. Any such resale may be made directly to purchasers or to or through
brokers or dealers who may receive compensation in the form of commissions or
concessions from any such broker-dealer or the purchasers of any such Exchange
Securities. Any broker-dealer that resells Exchange Securities that were
received by it for its own account pursuant to the Exchange Offer and any broker
or dealer that participates in a distribution of such Exchange Securities may be
deemed to be an "underwriter" within the meaning of the Securities Act and any
profit on any such resale of Exchange Securities and any commission or
concessions received by any such persons may be deemed to be underwriting
compensation under the Securities Act. The Letter of Transmittal states that, by
acknowledging that it will deliver and by delivering a prospectus, a
broker-dealer will not be deemed to admit that it is an "underwriter" within the
meaning of the Securities Act.

      For a period of 180 days after the Expiration Date (or such shorter period
during which participating broker-dealers are required by law to deliver such
prospectus) the Company will promptly send additional copies of this Prospectus
and any amendment or supplement to this Prospectus to any broker-dealer that
requests such documents in the Letter of Transmittal. The Company has agreed to
pay all expenses incident to the Exchange Offer (including the expenses of one
counsel for the Holders of the Securities) other than commissions or concessions
of any brokers or dealers and will indemnify the Holders

--------
   (1) In addition, the legend required by Item 502(e) of Regulation S-K will
appear on the back cover page of the Exchange Offer prospectus.

                                       21
<PAGE>   22
of the Securities (including any broker-dealers) against certain liabilities,
including liabilities under the Securities Act.

                                       22
<PAGE>   23
                                                                         ANNEX D

/ /   CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10 ADDITIONAL
      COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS
      THERETO.

        Name:    __________________________________________________
        Address: __________________________________________________

If the undersigned is not a broker-dealer, the undersigned represents that it is
not engaged in, and does not intend to engage in, a distribution of Exchange
Securities. If the undersigned is a broker-dealer that will receive Exchange
Securities for its own account in exchange for Initial Securities that were
acquired as a result of market-making activities or other trading activities, it
acknowledges that it will deliver a prospectus in connection with any resale of
such Exchange Securities; however, by so acknowledging and by delivering a
prospectus, the undersigned will not be deemed to admit that it is an
"underwriter" within the meaning of the Securities Act.

                                       23<PAGE>   1

                                                                   EXHIBIT 10.11

                   FAIRCHILD SEMICONDUCTOR INTERNATIONAL, INC.

                             2001 STOCK OPTION PLAN

1.    TITLE OF PLAN

      The title of this plan is the Fairchild Semiconductor International, Inc.
2001 Stock Option Plan, hereinafter referred to as the "Plan."

2.    PURPOSE

      The Plan is intended to align the interests of eligible key employees of
Fairchild Semiconductor International, Inc. (hereinafter called the "Company")
and its subsidiaries (as hereinafter defined) and of the non-employee directors
of the Company with the interests of the stockholders of the Company and to
provide incentives for such employees and non-employee directors to exert
maximum efforts for the success of the Company. By extending to key employees
and non-employee directors the opportunity to acquire proprietary interests in
the Company and to participate in its success, the Plan may be expected to
benefit the Company and its stockholders by making it possible for the Company
to attract and retain the best available talent and by rewarding key management
and technical personnel for their part in increasing the value of the Company's
shares. It is further intended that options granted pursuant to this Plan may be
incentive stock options under Section 422 of the Internal Revenue Code of 1986,
as amended (the "Code"), or may be options which are not incentive stock options
(hereinafter called "non-qualified stock options").

      The total number of shares of the Company's Class A Common Stock, par
value $.01 per share ("Stock"), available under the Plan is 5,000,000.

3.    STOCK SUBJECT TO THE PLAN

      There will be reserved for issue upon the exercise of options granted
under the Plan 5,000,000 shares of Stock, subject to adjustment as provided in
Paragraph 8, which may be unissued shares, reacquired shares, or shares bought
on the market. If any option that has been granted expires or terminates for any
reason without having been exercised in full, the unpurchased shares shall again
become available for the purposes of the Plan (unless the Plan shall have been
terminated).

4.    ADMINISTRATION

      The Plan shall be administered by a committee of the board of directors of
the Company (the "Committee"), consisting of two or more members of the board of
directors. The Committee shall be constituted to permit the Plan to comply with
(i) Rule l6b-3 promulgated under the Securities Exchange Act of 1934, as amended
("Exchange Act"), and any successor
<PAGE>   2
rule and (ii) United States Treasury regulations issued under Section 162(m) of
the Code.

      (a) The Committee shall have the plenary power, subject to and within the
limits of the express provisions of the Plan:

            (i) To determine from time to time which of the eligible persons
shall be granted options under the Plan; the time or times (during the term of
the option) within which all or portions of each option may be exercised and the
number of shares for which an option or options shall be granted to each of
them.

            (ii) To construe and interpret the Plan and options granted under
it, and to establish, amend and revoke rules and regulations for its
administration. The Committee, in the exercise of this power, shall generally
determine all questions of policy and expediency that may arise, may correct any
defect, or supply any omission or reconcile any inconsistency in the Plan or in
any option agreement in a manner and to the extent it shall deem necessary or
expedient to make the Plan fully effective.

            (iii) To prescribe the terms and provisions of each option granted
(which need not be identical).

            (iv) To determine whether options granted shall be incentive stock
options or non-qualified stock options.

            (v) To establish sub-plans under the Plan pursuant to which
specified options shall be governed.

            (vi) To determine whether options granted shall be transferable
without consideration to immediate family members or family trusts for the
benefit of an optionee's immediate family members. As used herein, "immediate
family" means parents, spouses and children.

      (b) The Committee shall not have the authority to grant new options in
exchange for the cancellation of stock options previously granted under the Plan
or under any other stock option plan of the Company.

5.    ELIGIBILITY

      Options may be granted only to regular salaried officers and key employees
of the Company and its subsidiaries and to members of the board of directors of
the Company who are not also employees of the Company. However, only employees
of the Company shall be eligible to receive incentive stock options. The term
"subsidiary" shall mean any company in which the
<PAGE>   3
Company controls, directly or indirectly, 50% or more of the combined voting
power of all classes of capital stock.

6.    TERMS OF OPTION AND OPTION AGREEMENTS

      Each option shall be evidenced by a written Stock Option Agreement which
shall expressly identify the options as incentive stock options or as
non-qualified stock options, and be in such form and contain such provisions as
the Committee shall from time to time deem appropriate; provided, however, that
the grant of a non-qualified option pursuant to this Plan shall in no way be
construed to be an alternative to the right of an employee to purchase stock
pursuant to any incentive stock option heretofore or hereafter granted to an
employee pursuant to any stock option plans now in existence or hereafter
adopted by the Company. The terms of the option agreements need not be
identical, but each option agreement shall include, by appropriate language, or
be subject to, the substance of all of the applicable following provisions:

      (a) The purchase price under each option granted shall be as determined by
the Committee but, in the case of incentive stock options, shall in no instance
be less than 100% of fair market value on the date of grant. The fair market
value on the date of grant shall not be less than the last sale price reported
for the Stock on the New York Stock Exchange ("NYSE") on such date or if there
was no sale on such date, the last date preceding such date on which a sale was
reported. The maximum term of any incentive stock option shall be ten years from
the date it was granted.

      (b) The maximum term of any non-qualified stock option shall be ten years
and one day from the date it was granted.

      (c) An option may not be exercised to any extent, either by the person to
whom it was granted or by the grantee's transferee, or by any person after the
grantee's death, unless the person to whom the option was granted has remained
in the continuous employ of the Company, or of a subsidiary, for not less than
six months from the date when the option was granted. Otherwise, each option
shall be exercisable as determined by the Committee.

      (d) The Company, during the terms of options granted under the Plan, at
all times will keep available the number of shares of stock required to satisfy
such options.

      (e) The Company will seek to obtain from each regulatory commission or
agency having jurisdiction such authority as may be required to issue and sell
shares of stock to satisfy such options. Inability of the Company to obtain from
any such regulatory commission or agency authority which counsel for the Company
deems necessary for the lawful issuance and sale of its stock to satisfy such
options shall relieve the Company from any liability for failure to issue and
sell stock to satisfy such options pending the time when such authority is
obtained or is obtainable.
<PAGE>   4
      (f) Neither a person to whom an option is granted nor his or her
transferee, legal representative, heir, legatee or distributee, shall be deemed
to be the holder of, or to have any of the rights of a holder with respect to,
any shares subject to such option unless and until he or she has exercised his
or her option pursuant to the terms thereof.

      (g) No incentive stock option may be transferable except by will or by the
laws of descent or distribution. During the lifetime of the person to whom an
incentive stock option is granted, he or she alone may exercise such option.

      (h) Unless otherwise specified by the Committee in the terms and
conditions of a particular option grant, an option shall terminate and may not
be exercised if the person to whom it is granted ceases to be continuously
employed by the Company, or by a subsidiary of the Company, or to serve as a
director of the Company, except (subject nevertheless to the second-to-last
sentence of this paragraph): (1) if the grantee's continuous employment or other
service is terminated for any reason other than (i) retirement, (ii) permanent
disability or (iii) death, the grantee may exercise the option to the extent
that the grantee was entitled to exercise such option at the date of such
termination at any time within a period of 90 days following the date of such
termination; (2) if the grantee's continuous employment or other service is
terminated by (i) retirement, (ii) permanent disability or (iii) death, the
option may be exercised in accordance with its terms and conditions at any time
within a period of five years following the date of such termination by the
grantee, or, in the event of the grantee's death, by the persons to whom the
grantee's rights under the option shall pass by will or by the laws of descent
or distribution, provided that, in all cases under clauses (1) and (2) an option
shall only be exercisable to the extent the grantee was entitled to exercise
such option at the date of such termination; (3) if the grantee's continuous
employment is terminated and within a period of 90 days thereafter the grantee
is recalled to the active payroll, the Committee may reinstate any portion of
the option previously granted but not exercised. Nothing contained in this
subparagraph (h) is intended to extend the stated term of the option and in no
event may an option be exercised by anyone after the expiration of its stated
term. With respect to non-qualified stock options, termination of employment or
service as an employee or director shall not be treated as a termination of
employment or service for purposes of this Section 6(h) if the grantee continues
without interruption to serve thereafter in another such capacity for the
Company.

      (i) Option agreements evidencing incentive stock options shall contain
such terms and provisions as may be necessary to render them incentive stock
options pursuant to Section 422 of the Code and the income tax regulations
thereunder, as the same or any successor statute or regulations may at the time
be in effect.

      (j) In order to facilitate the making of any grant of options under the
Plan, the Committee may provide for such modifications and additional terms and
conditions ("special terms") in grants to grantees who are employed by the
Company or any subsidiary of the Company outside the United States (or who are
foreign nationals temporarily within the United States) as the Committee may
consider necessary or appropriate to accommodate differences in local law,
policy or custom or to facilitate administration of the Plan. The special terms
may provide that the grant of an option is subject to (i) applicable
governmental or regulatory approval or other compliance with local legal
requirements and/or (ii) execution by the grantee
<PAGE>   5
and return to the Company of a written instrument in the form specified by the
Plan Administrator. In the event such conditions are not satisfied, the grant
shall be void. The special terms may also provide that a grant shall become
exercisable if a grantee's employment with the Company or subsidiary of the
Company ends as a result of workforce reduction, realignment or similar measure
and the Committee may designate a person or persons to make such determination
for a location. The Committee may approve such appendices or supplements to or
amendments, restatements, sub-plans or alternative versions of the Plan as it
may consider necessary or appropriate for purposes of implementing any special
terms, without thereby affecting the terms of the Plan as in effect for any
other purpose.

      (k) Nothing in this Plan or in any option granted hereunder shall confer
on any optionee any right to continue in the employ or other service of the
Company or any of its subsidiaries, or to interfere in any way with the right of
the Company or any of its subsidiaries to terminate his or her employment or
other service at any time.

7.    TIME OF GRANTING OPTION

      The Committee shall determine the date on which options are granted under
the Plan. All options granted must be approved at a meeting of the Committee by
a majority of the members of the Committee. If an option agreement is not
executed by an employee and returned to the Company on or prior to 90 days after
the date the option agreement is received by the employee (or such earlier date
as the Committee may specify), such option shall terminate.

8.    ADJUSTMENT IN NUMBER OF SHARES AND IN OPTION PRICE

      In the event there is any change in the shares of the Company through the
declaration of stock dividends or a stock split-up, or through recapitalization
resulting in share split-ups, or combinations or exchanges of shares, or
otherwise, the number of shares available for option, as well as the shares
subject to any option and the option price thereof, shall be appropriately
adjusted by the Committee, in its sole discretion. Any such determination by the
Committee shall be final and binding.

9.    PAYMENT OF PURCHASE PRICE AND WITHHOLDING TAXES

      (a) The purchase price for all shares purchased pursuant to options
exercised must be either paid in full in cash, or paid in full, with the consent
of the Committee, in Common Stock of the Company valued at fair market value on
the date of exercise or a combination of cash and Common Stock. Fair market
value on the date of exercise shall be determined in the same manner as provided
in Section 6(a) hereof.

      (b) The Committee may permit the payment of all or part of the applicable
withholding taxes due upon exercise of an option, up to the highest marginal
rates then in effect, by the withholding of shares otherwise issuable upon
exercise of the option. Option shares withheld in payment of such taxes shall be
valued at the fair market value of the Company's
<PAGE>   6
Common Stock on the date of exercise as provided in Section 6(a) hereof.

      (c) The Committee may require, as a condition of exercise, that the
optionee pay to the Company any required withholding taxes.

      (d) The Committee may permit same day sale or "cashless exercise" methods
of exercising the option.

10.   CHANGE IN CONTROL

      In the event the Company is merged into or acquired by another entity in a
transaction involving a change in control, the Committee shall have the complete
authority and discretion, but not the obligation, to accelerate the vesting of
any outstanding options granted hereunder. The Committee may also ask the board
of directors to negotiate, as part of any agreement involving a sale or merger
of the Company, a sale of substantially all the Company's assets or similar
transaction, terms providing protection for employees holding options under the
Plan.

      Any options not exercised or assumed as part of the transaction or
otherwise provided for shall terminate as of the effective date of the
transaction.

11.   NON-U.S. ELIGIBLE PERSONS

      Notwithstanding any provision of the Plan to the contrary, in order to
foster and promote achievement of the purposes of the Plan or to comply with
provisions of laws in other countries in which the Company or any subsidiary
operates or has key employees or non-employee directors, the Committee, in its
discretion, shall have the power and authority to (i) determine which (if any)
eligible persons rendering services or employed outside the United States are
eligible to participate in the Plan; (ii) determine which non-United
States-based subsidiaries or operations (e.g., branches, representative offices)
participate in the Plan or any type of options hereunder; (iii) modify the terms
and conditions of any options made to such eligible persons, or with respect to
such non-United States-based subsidiaries or operations; and (iv) establish
sub-plans, modified exercise, payment and other terms and procedures to the
extent deemed necessary or desirable by the Committee.

12.   AMENDMENT, SUSPENSION, OR TERMINATION OF THE PLAN

      (a) The board of directors of the Company may amend, modify, suspend or
terminate the Plan for the purpose of meeting or addressing any changes in legal
requirements or for any other purpose permitted by law. The board may seek
stockholder approval of an amendment if determined to be required by or
advisable under regulations of the Securities and Exchange Commission or the
Department of Treasury, the rules of any stock exchange on which the Company's
stock is listed, or other applicable law or regulation.
<PAGE>   7
      (b) The Plan shall continue in effect until all shares available for
issuance under the Plan have been issued. An option may not be granted while the
Plan is suspended or after it is terminated.

      (c) The rights and obligations under any options granted while the Plan is
in effect shall not be altered or impaired by amendment, suspension or
termination of the Plan, except with the consent of the person to whom the
option was granted or the grantee's transferee or the person to whom rights
under an option shall have passed by will or by the laws of descent and
distribution.

13.   EFFECTIVE DATE

      This Plan is effective as of January 1, 2001, and applies to any option
grant made on or after such date.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}]]