Document:

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                                                                     EXHIBIT 4.1

                                            ------------------------------------
                                            This Certificate is Transferable in
                                            New York, NY and Ridgefield Park, NJ
                                            ------------------------------------

[CELLSTAR CORPORATION LOGO]                                 COMMON STOCK
                                                      PAR VALUE $.01 PER SHARE

                                                                SHARES

                                                          CUSIP 150925 20 4

                                                       SEE REVERSE FOR CERTAIN
                                                      DEFINITIONS AND PROVISIONS
INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

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This Certifies that

is the record holder of
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    FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, PAR VALUE $.01
                                  PER SHARE, OF

                              CELLSTAR CORPORATION

(herein called the "Corporation") transferable on the books of the Corporation
in person or by duly authorized Attorney upon surrender of this Certificate
properly endorsed or assigned. This Certificate and the shares represented
hereby are issued and shall be subject to the laws of the State of Delaware and
to all provisions of the Certificate of Incorporation and By-Laws of the
Corporation as amended from time to time. This Certificate is not valid unless
countersigned and registered by the Transfer Agent and Registrar.

Witness the facsimile seal of the Corporation and the facsimile signatures of
its duly authorized officers.

                                        DATED:
  /s/ TERRY S. PARKER
CHIEF EXECUTIVE OFFICER                 COUNTERSIGNED AND REGISTERED
                                            MELLON INVESTOR SERVICES LLC
                                                    TRANSFER AGENT AND REGISTRAR

                                        BY
 /s/ ELAINE FLUD RODRIGUEZ                                  AUTHORIZED SIGNATURE
              SECRETARY
                                [CELLSTAR SEAL]

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                              CELLSTAR CORPORATION

     The Corporation will furnish, upon request and without charge, a full
statement of the powers, designations, preferences and relative, participating,
optional or other special rights (if any) of each class of stock or series
thereof authorized to be issued by it, and the qualifications, limitations or
restrictions of such preferences and/or rights (if any). Such request may be
made to the Secretary of the Corporation.

     The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM -- as tenants in common
TEN ENT -- as tenants by the entireties
JT TEN  -- as joint tenants with right of
           survivorship and not as tenants
           in common

                          UNIF GIFT MIN ACT -- ___________ Custodian __________
                                                  (Cust)               (Minor)

                                           under Uniform Gifts to Minors

                                           Act __________________________
                                                        (State)

     Additional abbreviations may also be used though not in the above list

     For value received, ___________________________________ hereby sell, assign
and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER
   IDENTIFYING NUMBER OF ASSIGNEE
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             PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE

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------------------------------------------------------------------------ Shares
of the Stock represented by the within Certificate and do hereby irrevocably
constitute and appoint

---------------------------------------------------------------------- Attorney,
to transfer the said stock on the books of the within-named Corporation
with full power of substitution in the premises.

Dated ____________________________________

                                             X  ________________________________
                                                        (Signature)
               NOTICE:

THE SIGNATURE(S) TO THIS ASSIGNMENT MUST
CORRESPOND WITH THE NAME(S) AS WRITTEN      }
UPON THE FACE OF THE CERTIFICATE IN EVERY
PARTICULAR WITHOUT ALTERATION OR ENLARGE-
MENT OR ANY CHANGE WHATEVER.                 X  ________________________________
                                                        (Signature)

This certificate also evidences and entitles the holder hereof to certain Rights
as set forth in the Rights Agreement dated as of December 30, 1996, by and
between CellStar Corporation (the "Company") and ChaseMellon Shareholder
Services, L.L.C., as Rights Agent (the "Rights Agreement"), the terms of which
are hereby incorporated herein by reference and a copy of which is on file at
the principal offices of the Company. Under certain circumstances, as set forth
in the Rights Agreement, such Rights will be evidenced by separate certificates
and will no longer be evidenced by this certificate. The Company will mail to
the holder of this certificate a copy of the Rights Agreement, as in effect on
the date of mailing, without charge promptly after receipt of a written request
therefor. Under certain circumstances set forth in the Rights Agreement, Rights
issued to, or held by, any Person who is, was or becomes an Acquiring Person or
any Affiliate or Associate thereof (as such terms are defined in the Rights
Agreement), whether currently held by or on behalf of such Person or by any
subsequent holder, may become null and void.

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THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN "ELIGIBLE GUARANTOR INSTITUTION"
AS DEFINED IN RULE 17Ad-15 UNDER THE SECURITIES AND EXCHANGE ACT OF 1934, AS
AMENDED.
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  SIGNATURE(S) GUARANTEED BY:

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                                                                    Exhibit 10.1

                        SEPARATION AGREEMENT AND RELEASE
                        --------------------------------

     This Separation Agreement and Release (hereinafter the "Agreement") dated
as of the 11th day of December, 2001, contains all terms and compromises reached
between Austin P. Young ("Mr. Young"), CellStar Ltd. (hereinafter the
"Employer"), CellStar Corporation ("CellStar"), and all affiliated entities, in
connection with Mr. Young's separation from employment with the Employer. It is
the intent of the parties, by entering into this Agreement, to resolve any and
all disputes, claims or causes of action which might now exist or arise in the
future between them.

IT IS THEREFORE AGREED THAT:

     1.   Employer and Mr. Young hereby mutually agree that Mr. Young's
employment with Employer, CellStar and their affiliated entities will
automatically terminate effective December 31, 2001 (hereinafter the
"Termination Date"). Furthermore, effective upon the date set forth in the first
paragraph of this Agreement, Mr. Young resigns from all director and officer
positions with CellStar and its affiliated entities, and any other positions
that he currently holds with the Company and its affiliates. Mr. Young shall
remain on the payroll as an employee from the date of this Agreement to the
Termination Date and perform the duties reasonably assigned to him from time to
time by the Chief Executive Officer and Board of Directors of CellStar. Mr.
Young will devote substantially all of his time, energy, skill and best efforts
to the performance of his duties, and will faithfully and diligently perform
such duties. During such time, Mr. Young's actions shall be subject to the
direction of the Chief Executive Officer and the Board of Directors of CellStar.

     2.   In consideration for Mr. Young's promises and covenants in this
Agreement, the Employer agrees:

     a.   to pay Mr. Young's current salary through the Termination Date.

     b.   to pay Mr. Young, in accordance with the formula set forth in the
          Employment Agreement dated November 5, 1999 between Mr. Young and the
          Employer (the "Employment Agreement"), the amount of $670,341.00 (less
          required withholding), within fifteen (15) days after the Termination
          Date;

     c.   to pay Mr. Young for accrued, but unused, vacation upon the
          Termination Date; and

     d.   to pay Mr. Young the Annual Incentive Payment (less required
          withholding) pursuant to paragraph 1.4(b) and 1.6(c) of the Employment
          Agreement (which sections, as modified by this paragraph 2, are
          incorporated herein by reference) promptly after the amount of such
          payment is determined, if such payment is earned in accordance with
          the terms of its grant; provided, however, it is specifically
          understood and agreed by the parties hereto that Mr. Young will not be
          eligible to participate in the annual incentive plan approved by the
          Compensation Committee of Parent's Board of Directors for fiscal 2002.

     3.   In consideration for the promises, payments and benefits provided
herein by Employer, and in order to fully compromise and settle any and all
claims and causes of action of any kind

                                       1

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whatsoever relating to or arising out of Mr. Young's employment with Employer,
including any claim arising under common law, contractual claim (except for and
as set forth in this Separation Agreement and Release or in any stock option
agreement existing at the Termination Date between Mr. Young and CellStar), or
any other federal, state or local statute or ordinance, Mr. Young agrees:

     a.   that Mr. Young will and hereby does unconditionally release, acquit
          and forever discharge Employer, all of its parent, subsidiary and
          affiliated companies, and all of their officers, directors,
          representatives, employees and agents from any and all charges,
          complaints, claims, causes of action, suits and expenses (including
          attorney fees and costs actually incurred) of any nature whatsoever,
          known or unknown, regarding any matter existing on or prior to the
          date hereof, including without limitation those obligations or matters
          relating to or arising out of the Employment Agreement which is hereby
          terminated and Mr. Young's employment or separation thereof from
          Employer, except as specifically expressed in this instrument or under
          any stock option agreement existing at the Termination Date between
          Mr. Young and CellStar. THIS RELEASE INCLUDES, BUT IS NOT LIMITED TO,
          ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF THE EMPLOYMENT AGREEMENT
          (EXCEPT FOR AND AS SET FORTH IN THIS SEPARATION AGREEMENT, AND IN ANY
          STOCK OPTION AGREEMENT EXISTING AT THE TERMINATION DATE BETWEEN MR.
          YOUNG AND EMPLOYER), MR. YOUNG'S EMPLOYMENT WITH EMPLOYER AND THE
          SEPARATION THEREOF, OR ANY BENEFITS ASSOCIATED WITH SUCH EMPLOYMENT,
          INCLUDING ANY CLAIM UNDER TITLE VII OF THE CIVIL RIGHTS ACTS OF 1964,
          THE AGE DISCRIMINATION IN EMPLOYMENT ACT, OR ANY OTHER COMMON LAW,
          CONTRACTUAL OR STATUTORY CLAIM; and

     b.   that Mr. Young will not file any charges or complaints against
          Employer or any of its affiliates with the Equal Employment
          Opportunity Commission, the Texas Commission on Human Rights, or any
          other local, state or federal agency or court, and that if Mr. Young
          filed or has filed any such complaint or charge, and/or if any such
          agency or court assumes jurisdiction of any complaint or charge
          against Employer or any of its affiliates on behalf of Mr. Young, Mr.
          Young will request such agency or court to withdraw from the matter
          and dismiss said action.

     4.   Employer releases Mr. Young from any and all claims related to, or
arising out of, Mr. Young's performance of his job duties, so long as he acted
in good faith, in a manner he reasonably thought to be in, or not opposed to,
the best interests of the company and had no reasonable cause to believe his
conduct was unlawful or illegal.

     5.   Notwithstanding anything herein contained to the contrary, from and
after the date hereof Mr. Young shall have full rights as described in Article 4
of the Employment Agreement with respect to actions taken or omitted by him on
behalf of the Employer during his employment and also with respect to any
third-party claims.

     6.   Except as required by law, all parties agree that they will keep the
terms, amount and existence of this Agreement confidential, except for
disclosures to Mr. Young's spouse, attorney and

                                       2

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financial advisors, and that neither party hereto will make any disparaging
statements or allegations about the other to any person or governmental agency,
including comments about Employer's employees, officers, directors or agents or
about the reputations of Employer or any such person. It is recognized that
CellStar may be required to file a copy of this Agreement with the Securities
and Exchange Commission, issue a press release relating to Mr. Young's
separation, and make other disclosures required of a public company pursuant to
applicable law, and any such filing, press release or disclosure shall not be
deemed to violate the provisions of this Agreement.

     7.  The provisions of Article 2 of the Employment Agreement are
incorporated herein and remain in effect as if set forth herein in their
entirety, for a period of one (1) year following the Termination Date.

     8.  As a further material inducement to enter into this Agreement, any
party who breaches this Agreement must reimburse the non-breaching party for any
and all loss, cost, damage or expense, including, without limitation, attorneys
fees incurred as a result of any effort, action or lawsuit to enforce this
Agreement. In addition, any breach of the Agreement will entitle the
non-breaching party to seek injunctive relief to enforce this Agreement and to
recover any actual damages incurred as a result of said breach. In the event of
litigation, the losing party must pay the attorneys fees of the prevailing
party.

     9.  Mr. Young represents and acknowledges that in executing the Agreement
he does not rely and has not relied upon any representation made by Employer or
its agents, representatives or attorneys with regard to the subject matter,
basis or fact of said Agreement, except on those contained in this Agreement.
The parties agree that this Agreement represents a resolution of various matters
and shall not be construed to be an admission of any liability or obligation by
either party to the other party.

     10. This Agreement shall be binding upon and inure to the benefit of Mr.
Young and, upon Mr. Young's death, his heirs, administrators, representatives,
executors, successors and assigns. This Agreement shall be binding upon and
inure to the benefit of the Employer, all of its parent, subsidiary and
affiliated companies, and any corporation or other entity into which or with
which any thereof shall be liquidated, merged or consolidated.

     11. This Agreement is made within the State of Texas and shall in all
respects be interpreted, enforced and governed under the laws thereof, and shall
in all cases be construed as a whole (according to its fair meaning and not
strictly for or against any of the parties).

     12. Should any provision of this Agreement be declared or be determined
illegal and invalid, the validity of the remaining parts will not be affected.

     13. The parties, by their signatures below, represent and agree that (a)
each has read this Agreement carefully and completely, and understands all
provisions contained therein; (b) Mr. Young has been given a period of at least
twenty-one (21) days to consider and review this Agreement; (c) Mr. Young has
seven (7) days after he signs this Agreement to revoke it, in which case this
Agreement and all obligations contained herein are null and void; and (d) Mr.
Young is aware of his right to consult with legal counsel and has ample
opportunity to do so if he so desires.

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     14. No change or modification of this Agreement shall be valid unless in
writing and signed by all parties hereto.

     15. Mr. Young will cooperate with Employer in response to requests for
information or assistance by Employer in connection with all matters relating to
or arising out of his employment with Employer.

     16. Mr. Young represents that he has not disclosed, and agrees that he will
not disclose material non-public information about Employer or any of its
parent, subsidiary or affiliate companies to anyone other than Employer's
officers, directors, attorneys and accountants.

     17. CellStar guarantees the payment and performance of all obligations of
Employer under this Separation Agreement and Release and agrees it will pay or
perform those obligations if for any reason Employer fails to do so. This
guarantee is absolute, continuing, irrevocable and not conditional or
contingent. Any notice given hereunder to either Employer or Parent will be
deemed to be notice to Parent for purposes of this guaranty.

                                    ********

                  [Remainder of page intentionally left blank.]

                                       4

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     18. MY SIGNATURE BELOW INDICATES THAT I HAVE READ THE ABOVE AGREEMENT AND
VOLUNTARILY AGREE AND CONSENT TO THE TERMS AND CONDITIONS THEREIN.

/s/ AUSTIN P. YOUNG                             Signed in Carrollton, Texas
-----------------------                         on JANUARY 11, 2002
Austin P. Young

     SUBSCRIBED AND SWORN to before me, the undersigned Notary Public on this
the 11 day of JANUARY 2002.

                                                /s/ SHELLY T. SHEETS
                                                ------------------------------
                                                Notary Public in and for the
                                                State of Texas

CELLSTAR LTD.

By:  National Auto Center, Inc.

     By:  /s/ ELAINE FLUD RODRIGUEZ             Signed in Carrollton, Texas
         --------------------------             on JANUARY 11, 2002
             Elaine Flud Rodriguez
             Sr. Vice President
             And General Counsel

CELLSTAR CORPORATION

By: /s/ ELAINE FLUD RODRIGUEZ                   Signed in Carrollton, Texas
    --------------------------                  on JANUARY 11, 2002
         Elaine Flud Rodriguez
         Sr. Vice President
         And General Counsel

     SUBSCRIBED AND SWORN to before me, the undersigned Notary Public on this
the 11 day of JANUARY 2002.

                                                /s/ SHELLY T. SHEETS
                                                ------------------------------
                                                Notary Public in and for the
                                                State of Texas

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