ASSET PURCHASE AGREEMENT



                                  BY AND AMONG



                              INTERSIL CORPORATION



                           INTERSIL (PENNSYLVANIA) LLC



                                       AND



                       FAIRCHILD SEMICONDUCTOR CORPORATION







                          DATED AS OF JANUARY 20, 2001

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                                TABLE OF CONTENTS

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ARTICLE I DEFINITIONS AND TERMS...................................................................................1



         Section 1.1.      Definitions............................................................................1

         Section 1.2.      Other Definitional Provisions..........................................................9



ARTICLE II PURCHASE AND SALE.....................................................................................10



         Section 2.1.      Purchase and Sale of Assets of the Business...........................................10

         Section 2.2.      Nonassignment of Assets...............................................................11

         Section 2.3.      Excluded Assets of the Business.......................................................12

         Section 2.4.      Assumption of Certain Obligations of the Business.....................................14

         Section 2.5.      Retained Liabilities of the Business..................................................15

         Section 2.6.      Purchase Price........................................................................17

         Section 2.7.      Allocation of Purchase Price..........................................................18

         Section 2.8.      Apportionment at Closing and Related Matters..........................................19



ARTICLE III CLOSING..............................................................................................19



         Section 3.1.      Closing...............................................................................19



ARTICLE IV CONDITIONS TO CLOSING.................................................................................21



         Section 4.1.      Conditions to the Obligations of Purchaser and Seller.................................21

         Section 4.2.      Conditions to the Obligations of Purchaser............................................21

         Section 4.3.      Conditions to the Obligations of Seller...............................................22



ARTICLE V REPRESENTATIONS AND WARRANTIES OF SELLER...............................................................23



         Section 5.1.      Organization and Qualification........................................................23

         Section 5.2.      Authorization.........................................................................23

         Section 5.3.      Binding Effect........................................................................24

         Section 5.4.      Non-Contravention.....................................................................24

         Section 5.5.      Seller Consents and Approvals.........................................................24

         Section 5.6.      Absence of Material Changes...........................................................24

         Section 5.7.      No Litigation.........................................................................25

         Section 5.8.      Compliance with Laws..................................................................25

         Section 5.9.      Environmental Matters.................................................................26

         Section 5.10.     Material Contracts....................................................................26

         Section 5.11.     Intellectual Property.................................................................28

         Section 5.12.     Real Property.........................................................................28

         Section 5.13.     Assets................................................................................29

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