Create Vector-based (.eps) file from .jpg image

I have an existing logo that is in .jpg format. I need for someone to convert this .jpg into a vector-based (.eps) file. The file must be a true vector-based file. I must be able to scale it to whatever size, without losing image quality. I must also be able to separate / ungroup the text from background, so that I can put the text on a different color background if needed. The logo must also use the following web-safe colors: #FFFF00 - Yellow #000000 - Black ## Deliverables vector-based .eps file Adobe Illustrator