I would recommend not over complicating your brief too much - its for your rather than your instructors benifit. Pick a speed at which you can maintain control and accelerate to Vyse - this varies with TOW, DH, pilot
proficiency etc. Then your brief becomes
" XX is my TOSS. If I have an engine failure during the take off roll or below XX I will close the throttles and abort the T/O. If I have an engine failure above XX with no runway remaining I will continue the T/O with my phase one checks, Mixture up, Prop up, Power up etc..."
Your departure brief containing departure details (Alt,track etc), MSA/LSALT's, actions after EFATO from safe height should be done seperately and BEFORE the EFATO brief - this helps the most immediately relevant information stay fresh in your memory.
Here endeth the lesson