[utjutj]

I am not sure why people keep repeating this. As long as you are not using company's property or time, what you do in your personal time is your business, not your employer's.

IANAL, but I believe in some states it is completely illegal for employers to add such clauses in employment contracts. Even if that clause exist, it is highly unlikely to be enforced in courts. We need to stop taking this abuse or living in fear of our employers.

Again standard disclosure, talk to a lawyer.