Boyce,
You need to get the company to agree in writing that they are not and
will not take an interest in your "hobby" software.
My questions are:
Does the use of the "and/or" in the contract mean that the contract
is binding if only one of the stated conditions is met? (I'm employed
by the company but don't meet any of the other conditions.)
Yes, that is exactly what and/or means in this context
Can a company claim intellectual property that is created
independently by an hourly employee that isn't related to the
company? (I do tech support but develop software as a hobby which is
completely unrelated to anything I do for the company.)
No, since the company has told you no already. But you would be wise to get
this in writing and read this carefully
Would signing this contract potentially cause me to face legal issues
as I develop software completely unrelated to the company? (If one of
my software programs proves very lucrative will they have sufficient
grounds to bring a successful suit against me?)
Probably not since they have agreed verbally that they have no interest in
work that is unrelated to your job.
Would signing this contract keep me from being able to contribute to
GPL (think GNU/Linux) software? (It is important to me that I be able
to contribute to GPL software without worry that anything I
contribute might be owned by my employer and thus impossible for me
to donate.)
See the above comments.
Your comments are appreciated, your legal expertise is begged.
If this issue is really important then discuss it with your attorney. The
advice of internet strangers will be general, not specific. And these
strangers will have opinions but may not have any expertise.
Good luck,
Dave M.