That's pretty standard wording, but I would ask them to clarify that "inventions/works of authorship" that don't fall under the "work for hire" category only will be assigned to the company to the extent that they are part of "the Company's actual or demonstrably anticipated research or development."
In other words, take the specificity language from the first paragraph you're OK with and add it to the second one.
This is unrelated and may not apply to your situation, but depending on how much work you're doing, I'd also be sure to let them know that you think it's in the interest of both parties if you have a stake in the company, and propose a more of less token (depending on involvement) amount of stock options in addition to other compensation.
In other words, take the specificity language from the first paragraph you're OK with and add it to the second one.
This is unrelated and may not apply to your situation, but depending on how much work you're doing, I'd also be sure to let them know that you think it's in the interest of both parties if you have a stake in the company, and propose a more of less token (depending on involvement) amount of stock options in addition to other compensation.
I'm neither a lawyer, nor ANAL. WTFBBQFTW.