This memorandum of understanding establishes an agreement between the Global Institute for IT Management (GIIM) and Entrepreneurship Immersion Program Enterprise to offer IT management certificates and courses. Key points of the agreement include that GIIM will provide the courses and certificates while Entrepreneurship Immersion Program Enterprise will handle marketing, recruiting, logistics and collect tuition. The memorandum discusses models for pricing and revenue sharing for the courses offered in collaboration.

1. Memo of Understanding
Dr. Jerry Luftman
Professor & Managing Director
Global Institute for IT
Management
1530 Palisade Ave, Suite 15L, Fort Lee, New Jersey 07024
Email: jluftman@globaliim.com
Office: 201-787-9509 Skype: jerry.luftman
Web: http://www.globaliim.com/
September 15, 2015
Memorandum To: Roshan Kumar Dubey
Founder, CEO & Managing Director
Entrepreneurship Immersion Program Enterprise
India
This Memorandum of Understanding (“MoU”) dated as of September 15, 2015, sets
forth the preliminary understanding between Entrepreneurship Immersion Program
Enterprise represented by Roshan Kumar Dubey with its office in India and the Global
Institute for IT Management (GIIM) LLC represented by Dr. Jerry Luftman with its office
in Fort Lee, New Jersey, USA, with respect to offering IT Management Certificates and
other GIIM courses/seminars as follows:
GIIM and Entrepreneurship Immersion Program Enterprise agree that by offering these
initiatives they are entering into an educational and consulting collaboration and that this
collaboration does not constitute either a partnership or joint venture.
GIIM is in a position to offer any of the 32 different 4-course certificates (or one or more
courses or seminars within the certificates, as described via: http://globaliim.com/32-it-
management-certificates/ ) that Entrepreneurship Immersion Program Enterprise
believes are in demand. Important considerations include:
1. The certificate awarded will be from GIIM and Entrepreneurship Immersion
Program Enterprise to all candidates completing the 4-course certificate
satisfactorily.
2. GIIM will work with Entrepreneurship Immersion Program Enterprise to identify
the best pricing and revenue sharing model for these courses.
3. GIIM shall provide Entrepreneurship Immersion Program Enterprise with, advice
and support for aforesaid marketing.
4. Entrepreneurship Immersion Program Enterprise will be responsible for collecting
all tuition funds to be paid by students enrolled in each of the programs. All
tuition for courses taught by GIIM faculty and attributable to the program shall be

2. received by the GIIM at least two weeks prior to the start of each course, via
bank/wire transfer or certified check.
5. The actual students will be marketed and recruited by Entrepreneurship
Immersion Program Enterprise.
6. The Entrepreneurship Immersion Program Enterprise shall coordinate all local
arrangements for GIIM Faculty. This will include local ground transportation,
hotel, food, venue, and arrangements required for program delivery of the
courses.
7. GIIM will cover all expenses for the actual teaching (GIIM faculty, travel, & living).
Entrepreneurship Immersion Program Enterprise will cover all of the expenses
for marketing, recruiting, logistics, and sales.
8. The specific content and logistics (e.g., venue, schedule) for each program will
be agreed to prior to beginning any marketing/selling which should be at least 3
months prior to the first course being offered.
9. Each of the face-to-face certificate courses conducted would typically follow a 6
week model (as described via: http://globaliim.com/delivery-schedule/flexible-
schedule/). The specific schedule will be agreed to by the Entrepreneurship
Immersion Program Enterprise GIIM prior to marketing/selling the program.
Alternative delivery models such as web (synchronous and asynchronous) and
using local faculty trained by GIIM faculty can also be considered. The model
used by GIIM for preparing local faculty is provided in the Appendix.
10.Entrepreneurship Immersion Program Enterprise agrees, on behalf of GIIM, to
arrange, coordinate, and secure any legal documents necessary to allow the
parties conduct the program(s).
11.Entrepreneurship Immersion Program Enterprise agrees to be responsible for all
taxes incurred through offering the programs.
12.Entrepreneurship Immersion Program Enterprise shall verify the English
qualifications of all candidates prior to admission and ensure that they will be
prepared for the program.
13.Entrepreneurship Immersion Program Enterprise shall be responsible for the
enrollment processes necessary to support the GIIM program.
I look forward to working with you in making this initiative a great success.
Agreed:
__________________ ______________________________
Jerry Luftman Roshan Kumar Dubey
Professor, Managing Director and Manager Founder, CEO & Managing Director
GIIM, LLC Entrepreneurship Immersion Program
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3. APPENDIX: Financial Models Used By GIIM
Recognizing that the pricing in the geographies under consideration will be a major
consideration, alternatives to consider include:
1. Increase the number of participants for each group to reduce the per-person
expense
2. Have GIIM teach its courses via the web (synchronously or asynchronously) to
reduce travel expenses
3. Use local faculty to teach GIIM content
4. A combination of the above
The use of premier faculty means that before we start a course the cost for salary
(faculty will be there for 2 consecutive weeks), travel, and accommodations is at least
$30,000 US ($120,000 for the 4 course certificate). If we have to pay for the venue to
hold the class that will be an additional $5,000/class (including meals/breaks, AV
equipment); bringing the total to $35,000 just to conduct each course. That does not
include the administrative expense, Entrepreneurship Immersion Program Enterprise
compensation and my compensation which would bring the total per course to around
$40,000 US. While the use of distance learning (web) might be able to reduce the cost
somewhat, we have found that the audience that we focus on prefers face-to-face. In
addition, we could use less than premier faculty.
While each alternative has it merits, this is something that you need to decide. We have
done programs with up to 50 students in each group. However, I am not sure that
Entrepreneurship Immersion Program Enterprise could attract the 50 nor is it clear that
this would generate enough revenue to justify the 4 courses. The same might be true
for the other alternatives, plus some might not be as acceptable to students.
One way of meeting the pricing consideration is for us to use local faculty to teach GIIM
content; Alternative 3. The difficulty with others teaching GIIM course material is the
intellectual property ownership and adjudication, qualifications of the local faculty,
preparation of the local faculty to teach the course content, and maintenance of the
course content/material. Hence, we need Entrepreneurship Immersion Program
Enterprise input/thoughts on:
 how to protect and ensure the intellectual property
and maintenance of our content
 ensuring the quality of the local faculty and courses
taught to ensure the integrity of the GIIM brand
 approach for preparing local faculty; Teach-the-
Teachers or Train-the Trainers (T3)
 how GIIM can monitor the accuracy of the revenue
being generated and compensation that we would receive per batch
If we can solve the above, we have found that many candidates prefer the U.S. and
Western Europe faculty, so we should also consider engaging GIIM faculty in at least
parts of the courses, even if via the web.
A suggested model for addressing these important considerations is as follows:
A. Entrepreneurship Immersion Program Enterprise would identify and
manage the local faculty.
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4. B. As part of the local faculty T3 course preparation, GIIM will review the
respective local faculty qualifications (e.g., resumes, ability to understand
and convey content) during the T3 cycle; hence, based on the GIIM
assessment, Entrepreneurship Immersion Program Enterprise might be
required to identify alternative faculty. A recommendation is to use quality
local professors.
C. Formal course/faculty student evaluations will be done and sent to GIIM
for reviews immediately following the delivery of each course. In addition,
periodically GIIM can request to review student final projects and grades.
As appropriate, the local faculty continuing to teach GIIM courses will be
based largely on these assessments.
D. The payment to GIIM for courses taught by qualified local faculty will be
as follows:
1. After the initial/first delivery/offering (described as part of the T3
model below) of a course, GIIM will receive $10,000US for
tuition/revenue of up to $20,000; for tuition/revenue greater than
$20,000 GIIM will receive one-third of tuition/revenue received for
each time the class is delivered to a cohort.
2. The T3 model to be used to prepare local faculty for the first time a
course is delivered is as follows:
a. A GIIM faculty member would spend up to 2 weeks at your
location working with the local faculty in preparing and perhaps
teaching several of the lectures. Alternatively the GIIM faculty
member would be there to teach the respective course. For
that one time engagement GIIM would receive $40,000 (GIIM
would cover all expenses) and the local faculty can use the
course content to deliver the subsequent program offerings.
b. Alternatively the web can be used to prepare the local faculty,
to keep the expenses down.
c. Local faculty would have access to GIIM faculty for Q&A.
3. Payment to GIIM will be made by money transfer by the start of
each course.
4. Annual course updates/maintenance (e.g., updated slides, cases,
reading material, and up to 3 hours of Skype assistance) can be
provided by GIIM faculty to the local faculty for $10,000, depending on
the extent of the changes.
As always, GIIM is open to suggestions.
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