[yawaworht12]

I don't know about Silicon Valley, but I've had such a provision in one previous employment contract because the position was high enough up that I'd be legally liable.

The clause was added by my lawyer because he said it was standard practice to have it if you're the officer of a company or in a position where to possibility of liability exists. I would expect anyone signing a non-standard run-of-the-mill at-will employment contract would have their own lawyer and that any good lawyer would ask for such a provision.