Op should really consult a lawyer. That said I don't think your draconian conclusions necessarily hold. If you are a neurointerface engineer and generate neurointerface IP that you'd prefer to commercialize on your own, probably thats an issue. But if you write an unrelated javascript framework, author a podcast or invent genetically modified corn that makes your hair grow back surely that would not be covered. An agreement that covers any and all intellectual output will not hold in court.

So it really depends on details about what exactly the agreement says and what domain they work & generate IP on.