We present and validate a novel physics-based model for hot-carrier degradation. The model incorporates such essential ingredients as a superposition of the multivibrational bond dissociation process and single-carrier mechanism, dispersion of the bond-breakage energy, interaction of the electric field and the dipole moment of the bond, and electron-electron scattering. The main requirement is that the model has to be able to cover HCD observed in a family of MOSFETs of identical architecture but with different gate lengths under diverse stress conditions using a unique set of parameters.