Plain English Meaning
If an engine quits during or just after takeoff, EOPs are the special escape route the crew flies instead of the normal departure. They are worked out in advance so the aircraft can still climb away safely on the remaining engine(s) without hitting terrain.
Full Definition
Engine out procedures (EOPs) are pre-planned departure procedures developed by an operator for use when an engine fails on takeoff or during the initial climb. They specify the route, headings, altitudes, and obstacle clearance gradients the aircraft must follow with one engine inoperative, and are designed to keep the aircraft clear of terrain and when it can no longer meet the required by the published departure.