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In this paper, we present a compact channel thermal noise model for short-channel MOSFETs which takes into account various short channel effects. Then, we compared measured data with shot-like noise level and thermal noise model in sub-40 nm CMOS devices. Also we characterized four level RTN (Random Telegraph Noise) and extracted the characteristics of two independent traps in MOSFETs and flash cells. Their vertical, lateral locations in the oxide as well as the trap energy (ET) were obtained by using accurate equations.