Exhibit 4.1

Execution Copy

FIRST AMENDMENT TO AMENDED AND RESTATED RIGHTS AGREEMENT

This FIRST AMENDMENT TO AMENDED AND RESTATED RIGHTS AGREEMENT (this “Amendment”) is made and entered into as of August 27, 2014 between Cobra Electronics Corporation, a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC, a New York limited liability trust company (the “Rights Agent”). Except as otherwise provided herein, all capitalized terms used in this Amendment and not defined herein shall have the meanings ascribed thereto in the Rights Agreement.

W I T N E S S E T H:

WHEREAS, the Company and the Rights Agent have entered into that certain Amended and Restated Rights Agreement, dated as of November 3, 2011 (the “Rights Agreement”);

WHEREAS, the Company proposes to enter into an Agreement and Plan of Merger by and among the Company, Venom Electronics Holdings, Inc., a Delaware corporation (“Parent”), and Venom Electronics Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”) (as amended or supplemented from time to time, the “Merger Agreement”) pursuant to which (i) Merger Sub shall commence a cash tender offer (the “Offer”) for any (subject to the Minimum Condition (as defined in the Merger Agreement)) and all of the outstanding shares of common stock, par value $0.33 (1/3) per share, of the Company, and (ii) following the consummation of the Offer, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving corporation, in each case on the terms and subject to the conditions set forth in the Merger Agreement;

WHEREAS, pursuant to Section 27 of the Rights Agreement, at any time prior to the Stock Acquisition Date, the Company and the Rights Agent may from time to time supplement or amend the Rights Agreement in any respect without the approval of any holders of Rights;

WHEREAS, the Board of Directors has determined, in connection with its consideration of the Merger Agreement and the transactions contemplated thereby, including the Offer and the Merger, that it is necessary and desirable to amend the Rights Agreement as set forth herein; and

WHEREAS, the Stock Acquisition Date has not yet occurred, and, subject to and in accordance with the terms of this Amendment, the Company has directed and the Rights Agent has agreed to amend the Rights Agreement in certain respects, as more particularly set forth herein.

NOW, THEREFORE, in consideration of these premises and the mutual covenants and agreements set forth in the Rights Agreement and this Amendment, the parties hereto agree to modify the Rights Agreement as set forth below.

“Merger” shall have the meaning ascribed thereto in the Merger Agreement.

“Merger Agreement” shall mean the Agreement and Plan of Merger, dated as of August 27, 2014, by and among the Company, Venom Electronics Holdings, Inc., a Delaware corporation (“Parent”), and Venom Electronics Merger Sub, Inc., a Delaware corporation and a wholly owned Subsidiary of Parent (“Merger Sub”) (as such agreement is amended or supplemented from time to time).

“Merger Sub” shall have the meaning ascribed thereto in the Merger Agreement.

“Offer” shall have the meaning ascribed thereto in the Merger Agreement.

“Parent” shall have the meaning ascribed thereto in the Merger Agreement.

“Notwithstanding anything to the contrary in this Agreement, immediately prior to the Effective Time (as defined in the Merger Agreement) this Agreement shall automatically terminate (without any further action of the parties hereto), all Rights established hereunder shall automatically expire and such time shall be deemed the Expiration Date for all purposes of this Agreement.”

“Section 35. Exception For Offer, Merger and Merger Agreement. Notwithstanding any provision of this Agreement to the contrary, none of a Section 11(a)(ii) Event, a Section 13 Event, a Distribution Date nor a Stock Acquisition Date shall be deemed to have occurred, none of Parent, Merger Sub or any of their Affiliates or Associates shall be deemed to have become an Acquiring Person, and no holder of any Rights shall be entitled to exercise such Rights under, or be entitled to any rights pursuant to, any of Sections 3, 7, 11 or 13 of this Agreement, in any such case by reason of (i) the approval, execution, delivery or adoption of the Merger Agreement or any of the other documents contemplated by the Merger Agreement; (ii) the public or other announcement of the Offer, the Merger or the other transactions contemplated by the Merger Agreement; (iii) the commencement of the Offer or the extension or amendment thereof from time to time in accordance with the terms of the Merger Agreement; (iv) the acquisition of Common Stock by Parent, Merger Sub or any of their respective existing or future Affiliates or Associates in accordance with the provisions of the Merger Agreement; or (v) the consummation of the Offer (as the Offer may be amended and/or extended from time to time or during any subsequent offering period in accordance with the terms of the Merger Agreement), the Merger or any of the other transactions contemplated by the Merger Agreement.”

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first set forth above.