This probably won't be good enough, though, as the "We can do anything we like" term can't be made good.

Perhaps you could add a term "If any part of this Agreement renders the remainder of the Agreement invalid or unenforceable, that part will be considered void, and the remainder of the Agreement valid and enforceable."

But that doesn't explain how you would resolve a part which only conflicts with a few other parts. You could include something about "if any part invalidates or renders unenforceable another part which is written previously on this Agreement, the part which is written later in this Agreement will be considered null and void." That might be dangerous though - a single bad term at the top could nuke the rest of the agreement.

But ... I'm not a lawyer. This is not legal advice. It's not that expensive to get a lawyer to review (and edit) a contract (OK, it's probably as much as a couple of dedicated servers, which might be a lot for a weekend project... but if you have more than one person in the company it's not expensive), and you get the bonus of a contract that actually does what you want it to, not what Wordpress wants. Wordpress probably has different priorities than you.

I just remembered (smacks forehead with palm) that a couple of years ago I posted a sample privacy policy that can give you and your lawyer a head start---see http://www.ontechnologylaw.com/privacy-policy-for-web-sites-...