SIMMONS FIRST NATIONAL CORP
EXHIBIT 10.4
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<TYPE>EX-10.4
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<DESCRIPTION>EXHIBIT 10.4
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      EXHIBIT 10.4
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      <b>TERMINATION OF GRANT UNDER SIMMONS FIRST NATIONAL CORPORATION </b><br><b>LONG
      TERM INCENTIVE PLAN TO MARTY D. CASTEEL</b>
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      EXHIBIT 10.4
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      <b>TERMINATION OF GRANT UNDER</b><br><b>SIMMONS FIRST NATIONAL
      CORPORATION</b><br><b>LONG TERM INCENTIVE PLAN</b>
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      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>WHEREAS</b>,
      Marty D. Casteel (&quot;<b>Participant</b>&quot;) was granted an award under
      the Simmons First National Corporation Long Term Incentive Plan (&quot;<b>Plan</b>&quot;)
      for 2008;
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      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>WHEREAS</b>,
      the award consisted of $65,000.00 in cash and 2,241 shares of Simmons
      First National Corporation Common Stock (&quot;<b>SFNC Stock</b>&quot;);
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      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>WHEREAS</b>,
      in light of the current economic conditions and the recently adopted
      statutory and regulatory provisions restricting the use of incentive
      compensation by certain financial institutions, the Company terminated
      the Plan;
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      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>WHEREAS</b>,
      the Company and the Participant have agreed that the Participant's 2008
      grant under the Plan should be terminated and cancelled.
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      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>NOW,
      THEREFORE</b>, the undersigned agree as follows:
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      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.&#160;&#160;<i><b>Termination
      of Grant</b></i>.&#160;&#160;The 2008 LTIP grant to the Participant, consisting
      of&#160;&#160;$65,000 in cash and 2,241 shares of SFNC Stock, is hereby terminated
      and cancelled, effective February 23, 2009.
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      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>IN
      WITNESS WHEREOF</b>, the parties have executed this instrument this ___
      day of _______________, 2009.
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            <b>SIMMONS FIRST NATIONAL CORPORATION</b>
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            Marty D. Casteel
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