Employees held financially liable for negligence?

[codename]

Employees that work for a vending company got a letter today and the owner of the company said that we must all sign it.
Here is what the letter states word for word:
(Company name blocked for privacy) has invested heavily in all equipment necessary for you to perform your job. Your cooperation in the care and use of this equipment is required to assist in maintaining optimum operating conditions.
It is your duty to keep all equipment clean and in good working order at all times or to inform through proper channels when it is not. It is the Associate’s responsibility to report and document any equipment that is unsafe or in need of repair through proper channels both verbally and in written form (i.e. manifest).
Associates who drive company property must carry on their person a valid driver’s license and are expected to practice safe and courteous driving habits with awareness on conditions exercised at all times.
Associate negligence causing damage to company property, equipment, and vehicles and including (company name) customer’s property and assets will result in the Associate being held financially liable for said damage.
(End of Document)
Again, all associates must sign this form and turn it back in.
I agree that that associate, if they are a driver, must carry their driver’s license. That is only common sense. The last part of it freaks me out, “Associate negligence” with the end result being that the employee will be held financially liable.
Is it just me or does that last part tie everything else in saying that the company can basically determine what is negligence or not. Negligence is not defined here right? If a customer was to cut their finger off (an accident) on one of our machines that we serviced 3 days ago, could the end result be the associate being sued and not the company because we signed this document?
Would you sign a document like this?
Any advice would help, thank you.