It sounds boiler plate.
It leaves interpretation open for management.
The only interpretation that matters is theirs.
If you want clarification you have to ask.
I would not ask because of the possibility of verbal notice.
If it's a national company I think the likelihood of a negative response is higher.
If it's a Texas company you might have a better chance.
Bottom line is you know the management and can judge what the response might be better than I can.
I would keep it concealed and not make an issue of it.