(a) a description of the services to be performed, the standard for performance, if practical, and any relevant time requirements of deadlines;

(b) a statement of the cost to the corporation of the services to be performed, including the method and time of payment;

(c) a requirement, where appropriate, that there be periodic progress reports in sufficient detail to permit monitoring of the services to be performed;

(d) provisions relating to conditions and circumstances, if any, under which supplies, facilities and personnel of the corporation may be used by the outside contractor in performing services; and

(e) provisions under which the corporation may terminate the contract.