[bblough]

I rejected an offer from a company that had a similar policy/procedure. Their contract stated that they own pretty much anything you do that's related to their business (which was huge and varied). But you were allowed to list any existing IP over which they had no claims.

That would have been fine and dandy, and probably even acceptable to me. But based on the wording of the contract, the IP clause still applied even after terminating your employment with the company. Which meant that while they might not be able to claim rights to my existing IP, ownership of any future IP could be called into question.

So, while I think your approach is good, there can still be issues with it.