Need Advice For A Job Contract

About to sign a contract for a W2 position at an ad agency. This is my first "real job" and i'm not sure if I should ask for a section to be re-written.

"During your employement, you shall not render services to any other entity, regardless of wether you receive compensation, without prior written consent of the comapny"

&

"you acklowedge and agree that anything you create during the employment period in the course of your employment for the company, including without limitation all notes, reports, documentation, drawings, computer programs, inventions, creations, works, devices, models, works in progress, and deliverables shall be considered work made for hire ("Work PRoduct") and will be sold property of the company. You hereby assign to the company all right, title and interest to all work product, including but not limited to all audiovisual, literary, moral rights and other copyrights, patent right, trade secret rights, and other proprietay rights herein,"

Just curious as to what risk I expose myself to with a clause like this.

I have income from affiliate stuff and i also have a monetized youtube channel that have nothing to do with the w2 position, they are paid out to an LLC with a business bank account which I have created.

I don't want to put my other stuff at risk.