[saluki]

I would watch out for . . . prior to or during the term of this Agreement . . . the prior language doesn't sound quite right . . .

I typically work with multiple clients not a single client so I include in my contract that I retain the right use portions of the code provide as a deliverable for previous, current and future clients but will not re-use their code in it's entirety. Typically projects have some portions that are standard and re-used over and over . . . occasionally a client will request I agree not to re-use their business logic specific code and that's fair . . .

I would recommend asking them to change the wording to they only own the code/patents of work developed specifically during working hours for their company and projects and that you hold the rights to any code and IP developed on your own time and all work prior to your agreement. Using a more modern standard agreement would probably be a better starting point . . .and having an attorney review it would be recommended before signing anything.

As far as a rate . . . I would google similar job listings . . . without much knowledge of your position I would expect $100 to $200/hr . . . but I would get the IP agreement worked out at the same time as your salary . . .