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No offense but I'd never sign a personal liability contract if I were contracting somebody even if I had millions sitting in the bank account. In my opinion that's just a silly idea, akin of asking a VC to sign a NDA.

If you try to do that I can see the company just telling you to go away. One of the reasons to become a LLC/LTD is so you don't have personal liability if the company goes under. It would be a bit stupid to sign that away when you can just hire someone else.

That's a great lesson - thanks. I've never heard of or considered such a thing, but that's a great way to assure payment without raising prices.

EDIT: I think people aren't giving you enough credit here. Every contract is a negotiation - this clause is just another weapon I can include in my starting offer on a new contract. If people say hey, we won't agree to this provision, I can now say "OK, no problem, my rates just went up 10%."