The Collaborative International Dictionary of English v.0.48:

Notch \Notch\, v. t. [imp. & p. p. Notched (n[o^]cht); p. pr.
   & vb. n. Notching.]
   1. To cut or make notches in; to indent; also, to score by
      notches; as, to notch a stick.
      [1913 Webster]

   2. To fit the notch of (an arrow) to the string.
      [1913 Webster]

            God is all sufferance; here he doth show
            No arrow notched, only a stringless bow. --Herrick.
      [1913 Webster]

WordNet (r) 3.0 (2006):

notched
    adj 1: notched like a saw with teeth pointing toward the apex
           [syn: serrate, serrated, saw-toothed, toothed,
           notched]
    2: having an irregularly notched or toothed margin as though
       gnawed [syn: erose, jagged, jaggy, notched,
       toothed]

Moby Thesaurus II by Grady Ward, 1.0:

40 Moby Thesaurus words for "notched":
   alveolar, alveolate, battlemented, chopped, crenate, crenated,
   crenellated, crenulate, dentate, dentated, dented, dentiform,
   depressed, dimpled, embrasured, engraved, erose, faveolate, gashed,
   honeycombed, incised, indented, jagged, jaggy, lacerate, lacerated,
   nicked, pitted, pocked, pockmarked, saw-toothed, sawlike,
   scalloped, scored, serrate, serrated, serriform, serrulated,
   toothed, zigzag