EXECUTIVE OFFICER RESTRICTED STOCK AWARD AGREEMENT

Exhibit 10.7

EXECUTIVE OFFICER RESTRICTED STOCK AWARD AGREEMENT

THIS EXECUTIVE OFFICER RESTRICTED STOCK AWARD AGREEMENT (the “ Agreement ”) is effective as of [          ] [      ], 2007 (the “ Grant Date ”), between Jackson Hewitt Tax Service Inc., a Delaware corporation (the “ Company ”), and [PARTICIPANT] (the “ Participant ”).

Pursuant to the Jackson Hewitt Tax Service Inc. Amended and Restated 2004 Equity and Incentive Plan (the “ Plan ”), the Compensation Committee of the Board of Directors of the Company (the “ Committee ”) has determined that the Participant is to be granted a restricted stock award (the “ Restricted Stock Award ”), on the terms and conditions set forth herein, and on the terms and conditions set forth in the Plan, and hereby grants such Restricted Stock Award. Capitalized terms used herein which are not defined in this Agreement will have the meanings set forth in the Plan. The Participant acknowledges that the Participant has received a copy of the Plan Prospectus.

Subject to the terms and conditions of the Plan and the additional terms and conditions set forth in this Agreement, the Company hereby grants to the Participant the Restricted Stock Award consisting of [              ] shares of the common stock of the Company (the “ Restricted Shares ”). The Restricted Shares shall vest and become nonforfeitable in accordance with Section 2 hereof.

(a) Subject to the Participant’s continued service with the Company, the Restricted Shares shall vest and become nonforfeitable after one year from the Grant Date as to one third of the Restricted Shares, after two years from the Grant Date as to two thirds of the Restricted Shares and after three years from the Grant Date as to 100% of the Restricted Shares.

(b) Except as otherwise provided in the Participant’s employment agreement, if the Participant’s service with the Company terminates or is terminated for any reason, the Restricted Shares shall, to the extent not then vested, be forfeited by the Participant without consideration.

(c) Notwithstanding any other provision of this Agreement to the contrary, in the event a Change in Control occurs, the Restricted Shares shall, to the extent not then vested and not previously forfeited, immediately become fully vested, subject to the terms of the Plan.

The Restricted Shares shall be held in escrow in a restricted book entry account with the Company’s transfer agent in the name of the Participant. Upon vesting of the Restricted Shares, the Restricted Shares shall be released into an unrestricted book entry account with the Company’s transfer agent; provided, however, that a portion of such Restricted Shares shall be

surrendered in payment of required withholding taxes in accordance with Section 10 below, unless the Company, in its sole discretion, establishes alternative procedures for the payment of required withholding taxes.

The Participant shall be the record owner of the Restricted Shares until or unless such Restricted Shares are forfeited pursuant to Section 2 hereof, and as record owner shall be entitled to all rights of a common stockholder of the Company, including, without limitation, voting rights with respect to the Restricted Shares, and the Participant shall receive, when paid, any dividends on all of the Restricted Shares granted hereunder as to which the Participant is the record holder on the applicable record date; provided that the Restricted Shares shall be subject to the limitations on transfer and encumbrance set forth in Section 7. As soon as practicable following the vesting of any Restricted Shares pursuant to Section 2, certificates for the Restricted Shares which have vested shall be delivered to the Participant along with the stock powers relating thereto. However, the Company shall not be liable to the Participant for damages relating to any delays in issuing the certificates to the Participant, any loss of the certificates, or any mistakes or errors in the issuance of the certificates or in the certificates themselves.

The certificates representing the vested Restricted Shares delivered to the Participant shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the Plan or the rules, regulations, and other requirements of the Securities and Exchange Commission, any stock exchange upon which the common stock of the Company is listed, and any applicable federal or state laws, and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to