1. Business Contracts Purpose: To cover a companys monthly employees gross salaries

2. Process for Development of Business Contracts Determine each employees monthly gross salary Determine each employees monthly gross salary Total all employees salaries Total all employees salaries Determine what the Business Contract with the Virtual Enterprise Center will be for: Determine what the Business Contract with the Virtual Enterprise Center will be for: Product (s) Product (s) Service (s) Service (s) Product (s) and Service (s) Product (s) and Service (s)

3. Process, cont. Write scenario detailing what your company will offer the Virtual Enterprise Center (VEC) that may include: Write scenario detailing what your company will offer the Virtual Enterprise Center (VEC) that may include: Narrative Narrative Descriptions of product (s) and/or services (s) Descriptions of product (s) and/or services (s) Pictures of product (s) Pictures of product (s) Determine cost-of-goods-sold or commissions on products/services sold to VEC (should not be more than 50%) Determine cost-of-goods-sold or commissions on products/services sold to VEC (should not be more than 50%) Add these costs to total salaries Add these costs to total salaries Include contract sales & cost-of-goods-sold and/or commissions in Income Statement Include contract sales & cost-of-goods-sold and/or commissions in Income Statement

4. Business Contract Examples

6. Business Contract + Income Statement

7. Business Contract Information Log-on to the VE website: www.virtualenterprise.org Log-on to the VE website: www.virtualenterprise.orgwww.virtualenterprise.org Go to Curriculum, Tasks, Quarter 1, and then to Business or Phantom Contracts Go to Curriculum, Tasks, Quarter 1, and then to Business or Phantom Contracts Go to Curriculum, Workflows, and Phantom Contract for contract example Go to Curriculum, Workflows, and Phantom Contract for contract example Go to the Backoffice of VirtuBank and log-on to your companys account: www.virtualenterprise.org Go to the Backoffice of VirtuBank and log-on to your companys account: www.virtualenterprise.orgwww.virtualenterprise.org Click on Business Contract Click on Business Contract Fill out the information and submit Fill out the information and submit

9. Business Contract Presentation Present your Business Contract to your Business Partner (s) for approval Present your Business Contract to your Business Partner (s) for approval Email or FAX a copy of scenario to the VEC Email or FAX a copy of scenario to the VEC NOTE: Total amount of Contract should be no greater than 50% more of total monthly salaries $100,000 for monthly salaries + $100,000 for monthly salaries + $50,000 (50% of salaries) for COGS = $50,000 (50% of salaries) for COGS = $150,000 for Business Contract $150,000 for Business Contract